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LenKa [72]
2 years ago
8

The study of how resources are distributed for production of goods and services within a social system is called.

Business
1 answer:
Fantom [35]2 years ago
4 0

It should be noted that the study of how resources are distributed for production of goods and services within a social system is called Economics.

<h3>What is Economics?</h3>

Economics  can be regarded as a social science which focus on the study of production as well as distribution, and consumption of goods as well as services.

Therefore, economics focus on how resources are distributed for production of goods.

Learn more about economics at:

brainly.com/question/25791968

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“The outstanding faults of the economic society in which we live are its failure to provide for full employment and its arbitrar
denis-greek [22]
John Maynard Keynes believed in government intervention into the economy to regulate the markets. Therefore, this statement would signify Keynes' view that B) government regulation is necessary  to stabilize the economy. 
5 0
3 years ago
The following data relate to direct materials costs for November: Actual costs 4,700 pounds at $5.40 Standard costs 4,500 pounds
Vera_Pavlovna [14]

$2,820 favorable

Calculation to determine direct materials quantity variance

Using this formula:

Direct materials price variance = (Actual materials cost per lb. - Standard materials cost per lb.) × Actual quantity lb

Direct materials price variance = ($5.40 - $6.00) × 4,700 lbs.

Direct materials price variance = (-$0.60) × 4,700 lbs.

Direct materials price variance = $2,820 favorable

Therefore the direct materials price variance is $2,820 favorable.

Direct material costs:

are the costs of raw materials or parts that go directly into producing products. For example, if Company A is a toy manufacturer, an example of a direct material cost would be the plastic used to make the toys.

Why is direct materials important?

Direct materials is an important concept in throughput analysis, where throughput is the revenue generated by a product sale, less all totally variable costs. In most situations, the only totally variable costs associated with a product are its direct materials.

What do you mean by actual cost?

In accounting, Actual Cost refers to the amount of money that was paid to acquire a product or asset. This could be the historical, past, or present-day cost of the product

What do you mean by standard cost?

A standard cost is the budgeted cost of a regular manufacturing process against which actual costs are compared. Of course, if a new product, service, or process is to be carried out, the initial standard costs will have to be estimated.

Learn more about direct costs:

brainly.com/question/21104316

#SPJ4

6 0
2 years ago
2. Chico Co. sold $4 million of 10-year bonds on December 31, 2015, with interest payable June 30 and December 31 at an annual r
Aleonysh [2.5K]

Answer:

The requirement of the question is provided below:

a.  What were the proceeds received by Chico upon the sale of the bonds?  

b.  Prepare the entry made by Chico to record the sale of the bonds on December 31, 2015.

The proceeds from the issue is $4,498,488.41

The entries are:

Dr Cash                     $4,498,488.41

Cr Bonds payable                              $4,000,000

Cr Premium on bonds payable           $498,488.41

Explanation:

The first task here is to determine the proceeds from the issue, which can be done using the present value formula in excel.

=pv(rate,nper,pmt,fv)

rate is the effective rate of 10% divided by 2,since coupon is paid twice a year.

nper is the time to maturity of 10 years multiplied by 2

pmt is the coupon payment paid twice a year, that is :12%/2*$4000,000=$240,000

fv is the value expected by investors upon redemption that is $4 million

=-pv(5%,20,240000,4000000)

pv=$4,498,488.41

5 0
3 years ago
Read 2 more answers
Employees are a vital part of the success of a service based business, particularly because they are normally present and intera
g100num [7]

Answer:

true

Explanation:

employees play a significant role in the success of a service based business because they build an atmosphere of trust , confidence and loyalty among the customer by interacting with the customer while the service is being provided.

8 0
3 years ago
When the Federal Reserve decreases bank's reserves through an open-market operation: ____________
Sedbober [7]

Answer:

d. the monetary base decreases, loans decrease, and the money supply decreases.

Explanation:

In the case when the federal reserve reduce the reserve of the bank via open market operation so it would be resulted in decrease in the monetary base, reduction in the loan and the reduction in the money supply. Overall, all three things would be decrease

Therefore as per the given situation, the option d is correct

And the same would be  relevant

8 0
2 years ago
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