Answer:
In your list of options there are 2 Major functions of an entrepreneur:
1. Innovate
2. Take Risks
Explanation:
Remember that being an entrepreneur and being a manager are 2 very different things. When an entrepreneur takes over the functions of a manager then things get more complicated. You can have a really big company that goes belly up because of bad management but that doesn't mean you had an incompetent entrepreneur.
The organizing function is one of my personal favorites. Here you have to get everything together, materials, machinery, material resources to operate, legal requirements etc. Then with successful leadership you can execute the plans directed by the entrepreneur.
Answer:
- Factors of production, household-to-firm
- Factors of production, household-to-firm
- Goods and services, firm-to-household
- Goods and services, firm-to-household
Explanation:
As per Circular Flow of Income
- Households provide firms with factors of production - Land, Labour, Capital, Entrepreneur. They get factor incomes from firms - wages, rent, interest, profit in return.
- Firms provide households with goods & services, get prices for them in return.
- Yakov earning 'wage' by working i.e supplying 'labour' services : is flow of factor of production from households to firm .
- Juanita earning 'profit' by supplying 'entrepreneurship' service : is flow of factor of production from households to firms
- Ana paying 'price' for good 'yoghurt' : is flow of goods & services from firms to households
- Dina paying 'price' for service 'piano lesson' : is flow of goods & services from firms to households
Decent worker that works for a tire and rubber company
More abundant leisure increases Social Welfare, but it decreases real GDP.
<h3>What is GDP?</h3>
GDP also known as the gross domestic product is the monetary measure of the market value of all products and services produced in a country within a particular period of time.
When a country increases its leisure, it increases the level of social welfare but at the same time decreases the value of the GDP of that country.
Learn more about GDP here:
brainly.com/question/1383956
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Answer:
$17.5
Explanation:
Direct Labour- 55000
Variable Overhead- 45000
Fixed overhead- 70000
Direct material- 20000
Total = $190,000
Total relevant cost of manufacturing = Direct material + Direct labour + Variable overhead + Avoidable Fixed cost + Opportunity cost
Where Avoidable fixed cost = 10,000 units * 4 = 40.000
0pportunity cost= $15,000
Total relevant cost of manufacturing = 25000 + 55000 + 45000 + 40000 + 15000 = $175,000
Now, Price that CJP would be indifferent to XYZ Offer can be derived by: Total Relevant Cost of Manufacturing / No of unit product
= $175,000 / 10,000 units
=$17.5