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Fynjy0 [20]
3 years ago
7

Theory of production​

Business
1 answer:
Helen [10]3 years ago
3 0

Answer:

Theory of production, in economics, an effort to explain the principles by which a business firm decides how much of each commodity that it sells (its “outputs” or “products”) it will produce, and how much of each kind of labour, raw material, fixed capital good, etc., that it employs (its “inputs” or “factors of .

Explanation:

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2. Think of a real or made up but realistic example of a speculative risk that you or someone you know may face, and then answer
Advocard [28]

Answer:

See explanation section

Explanation:

a) Implementing an urban planning project is an example of speculative risk. There is a huge uncertainty before implementing a project as well as after its implementation regarding its gross outcomes. Projects of any type can completely fail. But there are some cases that they succeed; they may spawn some positive outcomes for a specific community. In any project, there is always a probability of both gain and loss.

b) There are a lot of possible adverse outcomes of this type of risk. Maybe the project is not running sustainably. The ground condition may not be suitable afterward, but inclement weather can reduce the desired project utilitarian. It can attribute an adverse impact on the present environment. Assume that the budget cross before the implementation of that project. Finally, these sorts of adverse outcomes may result in the project’s failure.

c) Project risk can also beget some positive outcomes. In this type of threat, after implementation of that project, it may run sustainably. The ground and atmospheric conditions may appear suitable for this specific project. The approved budget may consider sufficient for the project implementation. That is how; these sorts of positive outcomes may result in the project’s success.

d) These types of risks, both positive and negative, may create unexpected expenses. If we think about the real risks, to manage these risks, we should exploit, share and enhance the specific risk, And in case of managing the harmful risks, we should transfer into a better resource-based project or try to mitigate the negative impacts of the project. Both of these efforts can be considered as unexpected expenses.

e) To protect myself against the real risks, I’ll exploit the specific risk. Because operating the risk is about increasing the chances of positive effects, the risk may have on the project. But if it is about the detrimental risks, I’ll try to avoid the risks by doing some activities like delegating tasks, changing the deadline, and increasing the human resources of the project team.

5 0
3 years ago
Units of production data for the two departments of Continental Cable and Wire Company for November of the current fiscal year a
ser-zykov [4K]

Answer and Explanation:

As per the data given in the question,

Calculation for direct material and equivalent conversion is presented below:

Particulars                           Materials                                Conversion cost

      Units (a)        % of completion (b)  Equivalent units (a ×b)     % of completion (d)   Equivalent units  (a × d)

Beginning WIP    6,000 units    0%                    0                          50%

3,000 units

Completed units  76,200 units  100%                76,200                100%

76,200 units

Ending WIP            4,600 units    100%                4,600 units         65%

2,990 units  

Total                      86,800 units                           80,800 units

82,190 units

Working notes

1. The 50% is considered as 50% is beginning work in process so the remaining would be considered

2. The 76,200 units is come from

= 82,200 units - 6,000 units

= 76,200 units

3.  And at last we total beginning WIP + completed units and ending WIP

8 0
3 years ago
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Lina20 [59]
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7 0
3 years ago
The demand for ben & jerry's ice cream will likely be ________ the demand for dessert.
kotykmax [81]

The demand for ben & jerry's ice cream will likely be more price elastic than the demand for dessert.

<h3>What is the elasticity of Demand?</h3>

When all other conditions are equal, the elasticity of demand is a concept in economics that quantifies how responsive consumers are to shifts in the quantity desired as a result of a price adjustment. In other words, it demonstrates the number of things consumers are willing to buy as the cost of those products rises or falls.

By dividing the percentage change in quantity by the percentage change in price during a specific period, the elasticity of the demand formula is computed. It appears as follows:

Elasticity is defined as % change in quantity / % change in price.

The quantity demanded as a result of a percentage change in a product's price is hence the measure of demand elasticity. Demand can be elastic or inelastic depending on whether products' demand is more responsive to price fluctuations. When a product's demand is flexible, the desired quality is extremely responsive to price variations. When a product's demand is rigid, the desired quality does not adapt well to price variations.

Therefore, The demand for ben & jerry's ice cream will likely be more elastic than the demand for dessert.

For more information on the elasticity of demand, refer to the following link:

brainly.com/question/23301086

#SPJ4

7 0
2 years ago
Stock Company has 2,000 units in beginning work in process inventory, 20% complete as to conversion costs, 23,000 units transfer
ss7ja [257]

Answer:

B. 26,000, 24,000.

Explanation:

Stock Company

Equivalent units

Particulars                 Units       % of Completion           Equivalent Units

                                                   Mat. Conversion          Mat.  Conversion

Transferred Out      23000         100         100           23000      23000

<u>Ending WIP              3000            100       331/3%       3000        999.9= 1000</u>

<u>Total Equivalent units                                                  26000        24000</u>

<u />

The Equivalent units can be calculated either by adding the units transferred out and ending WIP or by adding beginning WIP and units started.

Equivalent units for materials 26000

and Equivalent units for conversion are: 24000

3 0
3 years ago
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