Answer:
It can be very difficult for citizens to start private businesses. Citizens must pay for most basic necessities by themselves. There is no guarantee of steady employment for many citizens. Citizens may pay higher taxes than in other economic systems.
Explanation:
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Answer:
b) false
Explanation:
The basic classifications of project priorities are cost, time and performance. Profit is not included in the list, cost is included.
A project manager must decide how to manage the trade offs between cost, time and performance. E.g. if you want something well done and cheap, you cannot expect to have it done fast. If you want something done well and fast, it wouldn't be cheap.
Answer:
1. Relevant costs are also known as unavoidable costs - False.
Relevant costs are in fact, avoidable cost that only emerge in specific business decisions.
2. Incremental costs are also known as differential costs - False
Incremental costs are costs that are incurred when an additional unit of output is produced. Differential costs ocurr when a particular product is made instead of another.
3. An out-of-pocket cost requires a current and/or future outlay of cash. - True
An out-of-pocket cost or expense is a direct payment of money, in other words, an outlay of cash.
4. An opportunity cost is the potential benefit that is lost by taking a specific action when two or more alternative choices are available - True
An opportunity cost can also be defined as what is given up to obtain something.
5. A sunk cost will change with a future course of action. - False
Sunk costs are costs incurred in the past, that cannot be recovered, or modified.
Answer:
The economic order quantity to order for Mr Ben Bar and Restaurant is 7417 bottles
Explanation:
Annual demand D = 6,600 bottles
Ordering cost S = $25
Purchase price = $4
Holding cost = 15% of purchase price
Weekly demand = 132 bottles
Standard deviation = 20 bottles
Lead Time = 2
Using the EOQ model to find out economic order quantity for Mr Ben's Bar and Restaurant
Qopt = ......................(1)
Substitute the values in equation
Qopt =
Qopt =
Qopt = 7416.6198
Qopt = 7417 bottles
Hence, the economic order quantity to order for Mr Ben Bar nd Restaurant is 7417 bottles
Answer: UHM I guess I-
Explanation: