Answer:
Economics
Explanation:
Economics is the study of the activities that individuals and society undertake to satisfy their unlimited wants using scarce resources. Economics involves analysis of the production of goods and services, their distribution and consumption in a country. It involves the study of how individuals, firms, and the government allocates scarce resources to meet the need of society.
Economics is categorized in microeconomics and macroeconomics. Microeconomics concentrates on the key economic indicators such as demand, supply, and income and how they affect an individual, firm, or product. Macroeconomics studies the economic conditions in a country as a whole. It is concerned with issues such as inflation, Unemployment rate, and GDP
The opportunity cost of choosing to live in a rural area instead of an urban area is the accessibility to greater choices which is in terms of entertainment, food, and shopping. Thus, statement B is correct.
<h3>What do you mean by opportunity cost?</h3>
In microeconomic theory, the opportunity cost of a particular activity alternative is the loss of price or advantage that could be incurred through engaging in that activity, relative to engaging in an alternative activity providing a better return in value or advantage.
The opportunity cost of choosing to live in a rural area instead of an urban area is the accessibility to greater choices in terms of entertainment, food, and shopping. Thus, statement B is correct.
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Answer:
The payback period of the investment is 6.5 years
Explanation:
1. In order to calculate the payback period of the investment we would have to make the following calculation:
payback period of the investment=Year before full recovery+(Unrecovered cost at the start/cash flow during the year
)
payback period of the investment=6+ ($23,000−$20,500)
/$5,000
payback period of the investment=6.5 Years
The payback period of the investment is 6.5 years
Answer:
$58,600
Explanation:
The computation of the total cost for producing the 400 units for the new product is shown below:
= Learning curve at 65% for producing 400 units × cost for produced first time
= 23.44 × $2,500
= $58,600
By multiplying the Learning curve at 65% for producing 400 units with the cost i.e produced first time so that the total cost could come and the same is to be considered
According to business management roles, the "financial manager" of a firm uses information from the sales budget and various cost budgets to develop a forecast of net earnings for the planning period.
This is because the financial managers are the individuals in a firm whose role or responsibility is to ensure that the organization is functioning well financially.
Their roles usually involve providing the financial guidance, developing financial reports, making direct investment activities, etc.
Hence, in this case, it is concluded that the correct answer is "Financial Manager."
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