Answer:
<h2>In this case,visit to the Butchart Garden is an excludable and non-rivalrous good and is an example of a Club Good.</h2>
Explanation:
First,since the Burchart Gardens charges an admission fee of $30 for each visitor,anyone who has not paid the fee cannot or will not be able to have access inside the garden.Therefore,it is currently not a free service for all the visitors.In this sense,a visit to the Butchart Garden is excludable.It can be assumed that any visitor who wishes to come inside the garden and have a visit will have to mandatorily pay the admission fee.
Secondly,as Butchart Garden is a public area and anyone who pays the admission fee can officially gain access to the garden,enjoyment of the natural and aesthetic beauty of the garden by any one visitor does not reduce the simultaneous enjoyment of any other visitor who has paid the admission fee and hence,gained access to the garden.In economic language,if we consider the garden visit as a particular commodity,then the consumption of the commodity by any one visitor or consumer does not reduce the simultaneous consumption of any other visitor/s or consumer/s,provided that they have all paid the admission fee to gain access to the commodity or garden in this case.Therefore,visits to the Butchart Garden can be considered as non-rivalrous.
Now,since the visit to the Butchart garden is both excludable and non-rivalrous in nature,it can be considered as an example of a Club Good.
Answer:
Target costing
Explanation:
Target costing is a demand-based pricing strategy in which the budget is determined based on a target cost that is stablished according to the customer's willingness to pay. The cost of production added to the desired profit margin should not surpass the customer's willingness to pay in order for this method to be applied.
Answer:
c. volume of goods or services moved to or from location i
Explanation:
we know as per Rectilinear Distance formula
Wi = Ci × Qi .........................1
here Wi is the transportation cost of carry load for the customer “i”
we can say it is weighted load values so volume of goods or services moved to or from location
so correct option is c. volume of goods or services moved to or from location i
Answer:
B) Storming
Explanation:
Storming
the second stage in the team development
When the group began to contradict other views, this meant that they had crossed the first stage of formation and were now trying to cross the boundaries. This phase is the stage of the storm, which can cause group failure.
so correct option is B) Storming
Answer:
A) DEBIT to Accounts Payable for $1,500
Explanation:
The records that the company should make regarding the payment of the purchased merchandise is:
- Debit record Accounts Payable account 1,500 (since Accounts Payable is a liability account, when it decreases it should be debited)
- Credit record Cash account 1,500 (since Cash is an asset account, when it decreases it should be credited)
