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Mumz [18]
3 years ago
11

Societies make choices about goods and services based on the availability of A. land B. workers C. resources D. new technology P

lease select the best answer from the choices provided ОА OB O c OD​
Business
1 answer:
kati45 [8]3 years ago
8 0

Answer:

c

Explanation:

Resources are means or factors used to produce goods and services that satisfy human wants.

Human wants and that of the society is unlimited but the resources available to satisfy these wants are limited. As a result, economic agents must make decisions based on the availability of resources.

Resources include :

Land are natural resources used to produce goods and services e.g. gold mine

Labor is the effort used by people in  the production of goods and services.

Capital includes machinery and man made resources used in production e.g. hammer

An entrepreneur is a person who combines the other factors of production together

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The award received after completing a four year undergrad program is called a bachelors degree. 
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Boeing has often cut its prices drastically to try to maintain its 60 percent of sales of commercial aircraft as it competes wit
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A market share objective is the reason they encountered losses. Market share often pursues by companies when industry sales are relatively flat or declining. Although increased market share is a primary goal of some firms, others see it as a means to other ends: increasing sales and profits.



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3 years ago
During the first year of operations, a company sold $113,000 of goods to customers and received $96,500 in cash from customers.
Oksi-84 [34.3K]

Answer:

Net Income for the year is $41700

Explanation:

The accounting basis that is generally followed by the businesses is the accrual basis of accounting. The accrual principle states that incomes and expenses should be recorded and recognized in the period to which they relate to rather than in the period where cash is received or paid.

This means that we will record income and expenses related to this year in this year's profit calculation even when we have not received or paid cash for such incomes and expenses.

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6 0
3 years ago
The following information is taken from the records of Erie Corp.(in thousands) for the year ended on December 31: 2019 2018 Sal
den301095 [7]

Answer:

<u>Favourable Changes:</u>

Sales

Gross Profit

Operating Income

Interest Expense

Net Income

<u>Unfavourable Changes:</u>

Cost Of Sales  

Selling Expenses  

General Expenses

Other Revenue

Income Taxes

Explanation:

Observe Movement from 2018 results to 2019 results

                                        Erie Corp

                   Vertical Analysis of Income Statement

                                                                2019                    2018

Sales                                                        1,397                    1,122

Less Cost Of Sales                                   935                      814

Gross Profit                                               462                      308

<u>Less Operating Expenses</u>

Selling Expenses                                      154                       121

General Expenses                                     88                        77

Operating Income                                   220                       110

<u>Less Non- Operating Expenses</u>

Other Revenue                                            4                          7

Interest Expense                                         2                          9

Income Taxes                                           134                        66

Net Income                                                88                        42

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