Answer:
The basic objective of planning is to exercise control over the private sector of an economy. ... When the economic resources of the country are rationally arranged with a predetermined purpose, it is called economic planning. It usually refers to planning by the State.
hope it helps
Answer:
in this problem, we need to calculate Gomez's accounting and economic profit. To do this, let us first classify and list the explicit and implicit costs. Revenue: Sales: $85,000 Explicit costs: Cost of one helper: $18,000 Rent: $8,000 Materials: $24,000 These are the costs that require an outlay of cash. Implicit costs: Opportunity cost of funds invested in equipment: $7,000 Gomez could have invested the funds in another asset that could earn him $7,000 Opportunity cost of working as a potter in his own shop: $20,000 Gomez could have worked as a potter for a competitor that could earn him $20,000. This is the worth of Gomez's skill as a potter. Entrepreneurial talent: $4,000 This is the worth of Gomez's talent in running the business. These costs do not require an outlay of cash. These are the implicit costs. Now, we are ready to calculate both the accounting and economic profit of Gomez. a. Calculate the accounting profit for Gomez's pottery firm. $_ Accounting profit = Total Revenue − Total Explicit Costs Accounting profit = $ 85 , 000 − ( $ 18 , 000 + $ 8 , 000 + $ 24 , 000 ) Accounting profit = $ 85 , 000 − $ 50 , 000 Accounting profit = $ 35 , 000 The accounting profit is equal to $35,000. b. Now calculate Gomez's economic profit. $_ Economic profit = Total Revenue − Total Explicit and Implicit Costs Economic profit = $ 85 , 000 − ( $ 18 , 000 + $ 8 , 000 + $ 24 , 000 + $ 7 , 000 + $ 20 , 000 + $ 4 , 000 ) Economic profit = $ 85 , 000 − $ 81 , 000 Economic profit = $ 4 , 000 The economic profit is equal to $4,000.
Nirav recently opened a savings account offering 2% annual compound interest, this means that Nirav will earn the same amount of interest each year for four years.
<h3>What is a saving account?</h3>
An account at a retail bank is formally called as a savings account. This is a type of account that person granted a person that his money is safe in a particular bank. Refer to the image below for the complete question.
The given case tells about that <u>what would be the impact</u> of savings account offering 2% annual compound interest on Nirav, then he will earn the same amount of interest compounded each year for four years.
Learn more about the interest, refer to:
brainly.com/question/1040694
#SPJ1
Answer:
d. declines continually as output increases.
Explanation:
Fixed costs remain constant throughout a period regardless of output level. Average fixed costs are obtained by dividing fixed costs by the total output. Because fixed costs do not change, average fixed costs will be influenced mostly by the production level.
A large output means that fixed costs will be spread in many units. The result is a reduction in average fixed costs. When the output is large, a firm enjoys economies of scale. A small output will result in high fixed average costs. A Fixed amount will be shared among a fewer number of units.
There are three major types of paper packaging: corrugated boxes, boxboard or paperboard cartons, and paper bags and sacks. Corrugated Boxes: Corrugated boxes are commonly used to carry heavier products such as appliances, electronic goods, wine, fruit and vegetables.
