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kodGreya [7K]
3 years ago
7

“In fact, production theory is much simpler than consumption theory because the output of a production process is generally obse

rvable, whereas the “output” of consumption (utility) is not directly observable”. Explain this statement.
Business
1 answer:
laila [671]3 years ago
6 0

Answer:

The given statement 'In fact,...observable' conveys the idea that <u>it is comparatively convenient and simple to calculate the amount or quantity of goods that are being produced within a firm, territory, or country to determine the economic worth directly</u>. On the other hand, estimating the amount or quantity of goods consumed by the people across a region or country is difficult and can not be observed directly. However, the latter is given more significance and determined more usually through calculating the expenditure made by the consumers depending on their choices and within their income constraints and these are the primary factors that affect the economic growth or development while the production theory lays emphasis on the maximization of profit.

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_____ occurs when an individual or business capitalizes on a price differential for a firm’s product between two countries by bu
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Answer: Arbitrage

Explanation:

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3 years ago
Which statement is false?
WINSTONCH [101]

Option B, The predetermined overhead allocation rate is based on actual costs.

Explanation:

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The predetermined rate is derived by calculation as follows:

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3 years ago
When you organize an analytical report indirectly, in what order should the ideas be presented?
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The answer is D the indirect strategy does not allow a set order of ideas
4 0
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Residents of Mill River have fond memories of ice skating at a local park. An artist has captured the experience in a drawing an
Irina18 [472]

Answer:

the artist should make the elegant version since the expected profits are higher

Explanation:

elegant version:

expected revenue = (400 x $150 x 40%) + (350 x $110 x 60%) = $47,100

expected profits = $47,100 - $30,000 = <u>$17,100</u>

deluxe version:

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5 0
3 years ago
A department adds raw materials to a process at the beginning of the process and incurs conversion costs uniformly throughout th
Evgen [1.6K]

Answer:

51,000

Explanation:

Beginning WIP 0

Started into Production (60,000+15,000)

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Transferred Out (60,000 – 15,000)

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7 0
3 years ago
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