Answer: 10 bushels
Explanation:
If they produce 100 barrels of oil using 100 worker hours, it means that the number of work hours taken for 1 barrel is:
= 100 / 100
= 1 work hour
For bushels however, 1 worker hour produces:
= 25 / 100
= 0.25 bushels of corn
If 60 barrels of oil are produced, it means 60 worker hours were used which would leave 40 worker hours.
Bushels of corn produced is therefore:
= 40 * 0.25
= 10 bushels
Answer:
It is 0.98
Explanation:
Total Assets Turnover Ratio(TATR) = <u> Net Sales </u>
Average Total Assets
Net Assets =Gross Sales-Trade discounts-Sales tax-Sales return
TATR = 940,000/955,000 = 0.98 times
It is the ratio of a company's net sales to its average assets employed.
It is a ratio that tells how efficient the company is using its assets to generate its revenue.
The drawback of this ratio is that, if the divisional manager performance is based on this, it may sometimes leads to short-term view of performance. This may then encourage dysfunctional behaviour which may include refusal to replace an old assets with lower based value which when replace may reduce this ratio because of the higher based value of the new assets while sales still remain the same
Answer: allows businesses, within broad limits, to choose what goods to produce
Explanation:
Free enterprise also referred to as the free market is a form of economy whereby prices, services and products, are determined by the market, and not the government. In free enterprise, the susinesses and services are free from the control of the government.
Things that are free means they are unconstrained, while a business means an enterprise. Therefore, the free enterprise is an economy whereby the businesses are free from the control of the government.
