Answer:
Comparative advantage
Explanation:
This concept of economics is comparative advantage that means one country has advantage of producing same product at lower cost than other. In this question China has comparative advantage over USA,
This may be due to different reasons.
1. Population of China is greater than USA, that is why employees are willing to work on low salaries in China as compared to salaries are offered in the US.
2. China is comparatively better in manufacturing industry as of with USA.
Compared to the other classifications of consumer products, shopping products are: widely available. This is further explained below.
<h3>What are
consumer products?</h3>
Generally, Examples of things that fall under the category of consumer goods include food, clothing, and jewelry. Because they must first undergo processing before they can be deemed consumer goods, fundamental or raw elements like copper are not included in this category.
In conclusion, When compared to the other categories of consumer goods, shopping items have the following characteristic: they are easily accessible.
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Answer:
Indirect loss
Explanation:
The lost profits are an example of indirect loss.
Indirect loss also known as consequential loss is a loss sustained by a business owner when it is unable to use its assets for the intended purpose. Indirect loss is as a result of damage caused by fire, flood, earthquake etc.
An insured business is able to recover part of indirect loss but if the business is not insured, then it will bear the consequences alone.
Answer and Explanation:
The computation is shown below:
1.
<u>Particulars Units Unit Cost Dollars
</u>
Beg. Inv. 84 $3 $252
Apr-02 75 $4 $300
Apr-14 66 $7 $462
Apr-23 52 $8 $416
Total 277 $1,430
Average cost of one hat is
= Total cost of purchases ÷ Units purchased
= $1,430 ÷ 277 units
= $5.16
2.
Ending Inventory in Units = Units purchased - Units sold
= 277 units - 142 units
= 135 units
Now
Value of Ending Inventory = Units in Ending Inventory × Average cost per unit
= 135 units × $5.16
= $696.60
= $697
3
Gross Margin = Units sold × (Selling Price - Cost of goods sold)
= 142 units × ($24 - $5.16)
= $2,675.28
= $2,675