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ollegr [7]
3 years ago
7

The production possibilities model illustrates an inverse relationship between two goods or services because

Business
1 answer:
nikklg [1K]3 years ago
6 0

Answer:

production of different types will compete for limited resources.

Explanation:

           The production possibilities model is also known as the Production–possibility frontier. It is the visual model of efficiency and scarcity. It provides the concept of how the economy can change things by using two goods as an example. It determines the trade offs that is associated with the allocation of the resources between the production of the two goods.

           The production possibilities curve or model shows the inverse relationship between the two goods and the services as producing different types of products or services will complete for the limited resources available.

          An economy has a very limited economic resource and therefore it can produce more number of one good by making only less of some another good.

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May 1, 2021, Bibby Company had beginning inventory consisting of 200 units with a unit cost of $7. During May, the company purch
Umnica [9.8K]

Answer:

$7.38

Explanation:

The average cost method recalculates a new cost per unit with each and every purchase made. This new costs would then be used to calculate the costs of goods sold and inventory value.

Average cost per unit = Total Costs ÷ Units available for sale

                                    = (200 x  $7 + 800 x $7 + 600  x $8) ÷ 1,600

                                    = $7.375 or $7.38

The average cost per unit for May is $7.38

4 0
3 years ago
W.W. Grainger, Inc. is one of the world's largest largest business-to-business distributors of equipment, component parts, and s
cestrela7 [59]

Answer:

Merchant wholesaler

Explanation:

A merchant wholesaler is a business owner that specializes in purchasing goods in large quantities and then sell to other retailers and wholesalers.

Since they purchase their products in large quantities, they have different warehouses in their acquisition. These warehouses are used to store the products.

Merchant wholesalers are very vital in the chain of distribution as they facilitate the smooth movement of goods which takes places between the producers and the retailers.

In the scenario described above, W.W. Grainger is an example of a merchant wholesaler.

6 0
3 years ago
When is competition deemed desirable in business, when is it undesirable?​
OverLord2011 [107]
Competition is also considered the basis for capitalist or free market economies.

Competition is desirable when the price charged to individuals equals the marginal cost of production to each firm. In other words, one can say sellers charge buyers a reasonable or fair price.

Competition is undesirable when it leads to a lower output and increased costs. Competition is undesirable in business because you have to prevent new innovative ideas surviving due to firms operating with high research and development costs alongside dominant advertising. In addition fewer incentives to cut costs because of a lack of competitors.



Read more: https://www.referenceforbusiness.com/encyclopedia/Clo-Con/Competition.html#ixzz7Booeb5l4
6 0
3 years ago
What is the failure rate for a franchise?
monitta
Approximately 5% of franchises fail because survey's show about 95% success rate still in business.
6 0
3 years ago
Below is a partial portion of Jolex’s adjusted trial balance. Cash 12,692 Accounts Payable 5,443 Retained Earnings 1,593 Sales R
Nataliya [291]

Answer:

$ 5,937.00  

Explanation:

The credit to retained earnings in the year would be the net income for the year which is computed as sales and rent revenue added together minus salaries and wages expense,depreciation expense , utilities expense recorded in the year.

Net income=$13,108+$2,756-$6,639-$1,610-$1,678=$ 5,937.00  

All in all,the credit to retained earnings would be $ 5,937.00  

The net income is the amount by which the overall retained earnings would  increase in the current year

7 0
3 years ago
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