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Answer:
quantity demanded; quantity supplied; supply; demand
Explanation:
When there is a change in price of goods, this change will lead to quantity demanded and it will also lead to a change in the quantity supplied. According to the law of demand, an increase in price will lead to a decrease in quantity demanded and vice-versa.
When there is a change in government susidies, this change will lead to a change in supply, and a change in the number of buyers will lead to a change in demand.
Therefore, the correct statement is:
A change in price will lead to a change in quantity demanded and to a change in <em>quantity supplied,</em> while a change in government subsidies will lead to a change in supply and a change in the number of buyers will lead to a change in demand.
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Answer:
$248
Explanation:
The LIFO inventory method implies that the inventory that was purchased last would be the first to be sold.
Here, we would compute the inventory units as seen below;
= 5 units + 9 units + 5 units - 8 units
= 11 units
Now, the value of inventory is;
= 5 units × $16 + 6 units × $28
= $80 + $168
= $248.
The 6 units come from
= 11 units - 5 units
= 6 units.
Therefore, the value of inventory is $248.