Answer:
C) limited; unlimited
Explanation:
Economics can be described as the study of how people use limited resources to satisfy unlimited wants.
Answer:
Industrial capitalism is a system both social and economic whereby industry and resources are owned by few for profit.
Explanation:
In order to understand the term industrial capitalism, the term capitalism must first be understood.
Capitalism is an economic and political system in which a country's trade and <u>industry are controlled by private owners</u> for profit, rather than by the state.
Hence, Any society is capitalist if the means of production that is tools and materials belongs to the employer and not the employees and the employees produce commodities belonging to their employer. Otherwise, it would be socialism.
Industrial capitalism is therefore a system, both social and economic whereby <u>industry and resources are owned by few</u> for profit.
Answer:
5.52%
Explanation:
Cost of Furniture= $150,000
discount= 5.25% (120-day note)
To get the exporter's true effective annual financing cost, we have:
![150,000*[1-(0.0525*120/360)] = 147,375](https://tex.z-dn.net/?f=%20150%2C000%2A%5B1-%280.0525%2A120%2F360%29%5D%20%3D%20147%2C375%20)
=(150,000/147,375) 365/120-1 = 5.52%
Therefore, the exporter's true effective annual financing cost is 5.52%
Answer:
The value of cost of goods sold is $2,730 as shown below
Explanation:
The sale of 120 units made on January 17 is valued at $1,080 (120*$9) taking from stock purchased last on January 1
The sale of 160 units on January 29 is valued at $1,650 (150 units*$11) taking the items purchased last on January 20
The cost of goods sold =$1,080+$1,650
Cost of goods sold=$2,730
The value of closing inventory=30*$9+10*$11
=$270+$110
=$380
Hence value of costs of good sold is $2,730 while closing inventory is valued at $380
