Select the correct answer.

The problem of determining what goods and services society should produce: would not exist if government owned all of the resour

kenny6666 [7]

Answer:

exists because there are not enough resources to provide all of the goods and services that people want.

Explanation:

Factors of production can be defined as the fundamental building blocks used by individuals or business firms for the manufacturing of finished goods and services in order to meet the unending needs and requirements of their customers.

The four factors of production are;

I. Land: this refers to the natural resources and raw materials extracted from the ground or grown in the soil e.g oil, gold, rubber, cocoa, etc.

II. Labor (working): this is the human capital or workers who are saddled with the responsibility of overseeing and managing all the aspects of production.

III. Capital resources: it includes the physical assets used for production of goods and services such as equipment, money, plant, etc.

IV. Entrepreneurship: it is intellectual capacity required to drive a business and the skills to develop an idea into a money making venture (business).

These four (4) factors of production when combined effectively and efficiently are used for the manufacturing or production of goods and services that meets the unending requirements or needs of the consumers.

However, the problem of determining what goods and services society should produce in order to meet the unending requirements or needs (demands) of consumers, exists because there are not enough resources such as the factors of production to provide all of the goods and services that consumers want.

4 0

3 years ago

san antonio, texas, has a system in which the names of the top three applicants for promotion are submitted to the chief of pol

tino4ka555 [31]

<span>This system uses what is called career-banding. This system identifies employee competencies, reduces the number of job titles and simplifies the management process. It also allows and employee to move within their pay range while allowing managers to have a say in compensation and will hold them accountable to their decisions.</span>

8 0

3 years ago

Closing prices of two stocks are recorded for 50 trading days. The sample standard deviation of stock X is 4.638 and the sample

White raven [17]

Answer:

a) The correlation coeffcient is given by:

$r = \frac{Cov(X,Y)}{S_x S_y}$

And replacing we got:

$r = \frac{-36.111}{4.638 *9.084}= -0.857$

b) For this case we can conclude that we have a strong, negative linear association between the two stock prices.

Explanation:

Part a

For this case we have the following info:

$s_x = 4.638$ represent the sample deviation for the variable X

$s_y = 9.084$ represent the sample deviation for the variable Y

$Cov(X,Y)= -36.111$ represent the covariance between the variables X and Y

The correlation coeffcient is given by:

$r = \frac{Cov(X,Y)}{S_x S_y}$

And replacing we got:

$r = \frac{-36.111}{4.638 *9.084}= -0.857$

Part b

Describe the relationship between prices of these two stocks.

For this case we can conclude that we have a strong, negative linear association between the two stock prices.

5 0

3 years ago

Suver Corporation has a standard costing system. The following data are available for June: Actual quantity of direct materials

Sergeu [11.5K]

Answer:

$6.25

Explanation:

Given the data below from the above information,

The actual quantity of direct materials purchased 24,000 pounds

Standard price of direct materials price $6 per pound

Material price variance unfavorable -$6,000

Material quantity variance $2,400

Therefore;

Direct material price Variance = (Standard price - Actual price) × Actual quantity

- $6,000 = ($6 - Actual price ) × 24,000

-$6,000 = $144,000 - 24,000 AP

24,000 AP = $144,000 + $6,000

24,000 AP = $150,000

AP = $6.25

6 0

3 years ago

On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 210,000 shares of $30 par common stock at $34,

hodyreva [135]

Answer:

Jefferson County Rocks Inc.

a. Journal Entries:

January 22:

Debit Cash Account $7,140,000

Credit Common Stock $6,300,000

Credit Additional Paid-in Capital - Common $840,000

To record the issue of 210,000 shares of $30 par common stock at $34.

February 27:

Debit Cash Account $180,000

Credit Preferred Stock $135,000

Credit Additional Paid-in Capital - Preferred $45,000

To record the issue of 15,000 shares of preferred stock, $9 par at $12.

b. Total amount invested by all stockholders as of February 27:

Common Stock $6,300,000

Additional Paid-in Capital - Common $840,000

Preferred Stock $135,000

Additional Paid-in Capital - Preferred $45,000

Total $7,320,000

Explanation:

a) Shares issued at above par value: The difference between the par value and issue price is credited to the Additional Paid-in Capital Account. This allows the Common Stock and the Preferred Stock to be showed at their par values.

5 0

3 years ago