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3 years ago

List the four factors of production

Business

2 answers:

mylen [45]3 years ago

7 0

Answer:

Land, Labour,Capital and Entrepreneur

Explanation:

Land is a natural resource which can be used to create goods or service

Labour is the workdone by the peoplw in the workforce

Capital is the man-made goods that are used in the production of goods

Entrepreneurs are people who take risks in search of profit

yawa3891 [41]3 years ago

3 0

Answer:

The four factors of production are land, labor, Capita and entrepreneurship.

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The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. Princ

kap26 [50]

Answer:

After 4 years the amount of money in the account will be $10,704.8

The interest earned is $1,204.8

Explanation:

To calculate future value on a certain amount (principal), with compound interest, the formula below is used:

FV = PV × $(1+\frac{r}{n}) ^{n*t}$

where:

FV = Future value

PV = present value = principal = $9,500

r = interest rate in decimal = 3% = 0.03

n = compounding period per year = quarterly = 3 times per year

t = time in years = 4 years

∴ FV = 9,500 × $(1+\frac{3}{0.03}) ^{3*4}$

FV = 9,500 × $1.001^{12}$

FV = $10,704.8 (to 1 decimal place)

interest earned = future value - Present value

= 10,704.8 - 9,500 = $1,204.8

4 0

3 years ago

The balance in accounts receivable at the beginning of 2016 was $600. During 2016, $3,200 of credit sales were recorded. If the

andreyandreev [35.5K]

Answer:

$3,100

Explanation:

Step 1: Draw up the Accounts Receivable Account

Opening Balance $600 Allowance for Doubtful debt $200

Sales $3,200 Cash Collected $3,100

Closing Balance $500

$3,800 $3,800

To calculate the cash collected from customers

first, add the debit side of the accounts receivable which is a sum of the opening balance and sales= 3,800

Secondly, add the figures in the credit side including allowance for doubtful debt and closing balance= $700

Thirdly, Subtract the lesser side from the greater, $3,800 - $700 = $3,100

$3,100 was cash collected from the customers in 2016

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3 years ago

Each of us perceives "ethics" from our own point of reference as to what is or is not ethical. This assignment asks you to consi

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Business ethics Padding an expense account and save documents with record

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4 years ago

You decide to quit your $60,000-per-year job as an information technology specialist and illustrate children's books. At the end

Lesechka [4]

Answer:

- $45000

Explanation:

Economic profit is different from accounting profit in the sense that former also takes into consideration the implicit costs, also referred to as opportunity costs unlike the latter.

Economic Profit = Accounting profit - Opportunity Costs

Opportunity costs are defined as the the cost of sacrificed or foregone alternative for pursuing a particular alternative. Such costs are implicit or notional as they are not actually incurred.

In the given case, Economic Profit = Revenues - Explicit costs - Implicit costs

Here, the implicit cost is $60,000 income foregone.

Thus, Economic Profit = $20,000(income) - $ 5000 (expense) - $60,000 (opportunity cost)

Economic Profit = ($ 45,000) or -$45,000.

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4 years ago

Out of fears that the money supply is too large, the federal reserve has decided to decrease the money supply. how could the fed

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The money supply can be reduced by not continuing to print new bills. Banks could be asked not to distribute more than a set amount of money, thereby lessening the amount of money put into general circulation. Sellers could raise the price of their goods and services. When prices rise, people take a closer look at their goals and their disposable income. Cost of living usually results in more prudent spending, more savings, and less money in general circulation.

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4 years ago

List the four factors of production​

List the four factors of production