Answer:
d. Law of Demand
Explanation:
The law of demand states, the quantity demanded of a product is indirectly related to it's price keeping other factors affecting demand as constant.
The law states, more of a product is demanded when it's price falls and vice versa.
It is noteworthy here that it is quantity demanded which changes when only price changes, not the demand itself. Demand would change when factors affecting demand other than price of the product change.
In the given case, when price of high speed internet decreases, the quantity demanded increases. The statement indicates the operation of the law of demand.
Answer:
Hazard Control
Explanation:
Hazard control can be defined as the a worldwide accepted system that is setup by industries or companies to ensure the reduction or elimination of work hazards.
It is usually passed across to managers through training and the managers in turn ensure that the employees are trained as well thus ensuring that the practices become standard practices in the organization.
cheers
Based on the amount earned and the monthly expenses, Eric should set aside <u>$16,200</u> for an emergency fund.
It is generally recommended that when settling cash aside for an emergency fund, the amount that one sets aside be 3 times their monthly expenses.
Eric's monthly expenses are $5,400 so the amount to be set aside should be:
= 5,400 x 3
= $16,200
In conclusion, Eric should set aside $16,200 for the emergency fund.
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Answer:
(-$10,000) Unfavorable
Explanation:
Direct materials:
Quantity = 15 pounds
Standard price = $16 per pound
Actual price = Purchase Price ÷ Purchase quantity
= 170,000 ÷ 10,000
= 17
Material price variance:
= Actual purchase quantity × (Standard price - Actual price)
= 10,000 × ($16 - $17)
= 10,000 × (-$1)
= (-$10,000) Unfavorable