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3 years ago

Almost everything in economics can be traced back to the law of supply and demand, which states what?

2 answers:

5 0

Answer:The law of supply and demand is a theory that explains the interaction between the sellers of a resource and the buyers for that resource. The theory defines the relationship between the price of a given good or product and the willingness of people to either buy or sell it.

elena-s [515]3 years ago

3 0

Answer:

The law of supply and demand is a theory that explains the interaction between the sellers of a resource and the buyers for that resource. The theory defines the relationship between the price of a given good or product and the willingness of people to either buy or sell it.

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When making business changes in the short run, management sometimes gets locked in to certain costs arising from previous decisi

Jlenok [28]

Answer: This is the type of cost known as Sunk.

sunk cost is a cost that has already been incurred and cannot be recovered. Sunk costs are contrasted with prospective costs, which are future costs that may be avoided if action is taken.

A sunk cost refers to money that has already been spent and which cannot be recovered. ... Sunk costs are excluded from future business decisions because the cost will remain the same regardless of the outcome of a decision.

The sunk cost effect is manifested in a greater tendency to continue an endeavor once an investment in money, effort, or time has been made. Evidence that the psychological justification for this behavior is predicated on the desire not to appear wasteful is presented.

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3 years ago

The Manufacturing Overhead account shows debits of $30,000, $24,000, and $28,000 and one credit for $86,000. Based on this infor

Setler [38]

Answer:

has been overapplied.

Explanation:

The net balance of debit and credit of manufacturing overhead account is under or over applied overhead. On debit sides the Actual costs incurred is recorded and overhead applied is recorded in credit side of manufacturing overhead account. Total actual costs are $82,000 ( $30,000 + $24,000 + $28,000 ) and overhead applied is $86,000. Net balance of account is overapplied overhead of $4,000 ( $86,000 - $82,000 ).

8 0

3 years ago

Discuss the importance of index numbers in business

lesantik [10]

Answer: Index numbers are used to measure changes in the value of money. A study of the rise or fall in the value of money is essential for determining the direction of production and employment to facilitate future payments and to know changes in the real income of different groups of people at different places and times.

Explanation:

6 0

3 years ago

On May 3, 2020, Sweet Company consigned 70 freezers, costing $450 each, to Remmers Company. The cost of shipping the freezers am

Minchanka [31]

Answer:

A. $16,195

B. $7,621

C. $23,816

Explanation:

a. Computation for the inventory value of the units unsold in the hands of the consignee.

Inventory value of the units unsold

First step is to calculate the Total inventory value

Inventory cost $31,500

(70 * $450)

Add Freight $890

Total inventory value $32,390

($31,500+$890)

Now let calculate the Inventory value of the units unsold

Inventory value of units unsold =($32,390 / 2)

Inventory value of units unsold =$16,195

Therefore the inventory value of the units unsold in the hands of the consignee is $16,195

b. Computation for the profit for the consignor for the units sold

Sales $25,900

(35 * $740)

Less Cost of unit sold ($16,195)

($32,390 / 2)

Less Commission ($1,554)

($25,900 * 6%)

Less Advertising ($200)

Less Installation cost ($330)

Profit for the consignor $7,621

Therefore the profit for the consignor for the units sold will be $7,621

c. Computation for the amount of cash that will be remitted by the consignee.

Sales $25,900

Less Commission ($1,554)

($25,900 * 6%)

Less Advertising ($200)

Less Installation cost ($330)

Cash remitted $23,816

Therefore the amount of cash that will be remitted by the consignee is $23,816

4 0

3 years ago

In what situation would the goverment use a no-Bid contract?

Alexandra [31]

Answer:

Explanation:

to produce a public good. i remember having a question like this and this was the answer. hope this helps!

7 0

4 years ago