Answer:
$34,100
Explanation:
The computation of the net income is shown below:
Net income = Total revenues - Total expenses
where,
Total revenues
= Service revenue + sales revenue
= $145,200 + $27,500
= $172,700
And, the total expenses is expenses incurred i.e $138,600
So, the net income is
= $172,700 - $138,600
= $34,100
As we know that the income statement records only revenues and expenses and the same is considered
Answer:
GDP = $14,755.1 and expenditure approach
Explanation:
The formula to compute the GDP is shown below:
GDP = Personal consumption expenditures + Gross private domestic investment + Government consumption expenditures and gross investment + Net exports
where,
Net exports = Exports - imports
= $1,935.3 - $2,435.5
= -$500.2
So, the GDP is
= $10,417.1 + $1,818 + $3,020.2 - $500.2
= $14,755.1
And, the summing of all this items which are shown above while calculating the GDP is known as expenditure approach
Explanation:
This is circular flow model with three agents ; customers , governments and businesses.
There are two markets ; Goods and services market and factor market.
The two types of transaction are resources or monetary transaction.
▼ you buy a coffee at starbucks : It is a trade between companies, households with commodities and households. This is achieved via the demand for goods and services.
▼ the government buys some dell computers : This is the exchange of the money market between the government and goods and services. Assets are transferred from government to market for goods and services.
▼ a student works at kinko : The transaction includes the demand element from the household to the resource sector. It is a financial transaction between companies and households.
▼ donald trump rents a building to marriot hotels: It is a monetary transaction across the factor network from business to households. This is indeed a resource transaction between households and companies via the factor market.
▼you pay your income tax : This is indeed a money transaction between households and government.
I think this is specific to your class or we need a bit more context!
Answer: Form utility
Explanation: Form utility refers to the enhancement in the value of a commodity done by altering the product in one way or another. Form utility means making a product more usable for the consumers by modifying its physical appearance. Changing the wood into furniture is one of many examples of form utility.
Hence, from the above we can conclude that the right answer to this question is form utility.
