Answer:
Resources
Explanation:
In company's perspective, Resources are the things available at company's disposal that can be used to achieve its goal. This could includes both animated objects , living subjects, or even an abstract concept.
But in general,for a company to be formed, it needs to possess three of the most basic resources.
- Land
This consists of fixed assets that the company need for its operation. Such as land and building.
- Labor
This include workers that contribute their effort for the company.
- Capital
This is the amount of money that the company can use to fund the operation.
Things such as information, managerial skills, firm attributes, etc are considered as resources too. But all of them can be postponed until the three basic resources are met.
Answer:
Yes, the Astrid maximizing her utility
Explanation:
Given that
Utils for the last quart = 30
Per quart = $3
Honey price = $0.75
Utils of Last jar = 7.5
The calculation of maximum utility is given below:-
Per dollar utility gained by milk
= 30 ÷ 3
= 10 utils
Milk utility for $0.75
= 30 ÷ 3 × $0.75
= 7.5 utils
Therefore from the last quart the utility was same and the dollars was spent in last jar. So, Astrid can maximizing her utility.
Answer:
a. Dave has a COMPARATIVE ADVANTAGE in the production of sweaters.
Explanation:
If both Dave and Caroline produce sweaters and socks. If Dave's opportunity cost of producing 1 sweater is 3 socks, and Caroline's opportunity cost of producing 1 sweater is 5 socks, then Dave has a COMPARATIVE ADVANTAGE in the production of sweaters.
Comparative advantage can be defined as an economy's ability to produce goods and/or services at a lesser opportunity cost than other countries.
In the end comparative advantage gives a country the ability to sell those goods and services that he could produce at lower opportunity costs; cheaper to other countries.
This definition adequately describes the position of Dave in relation to caroline, in the given Scenario.
Answer:
$ 2,504,000
Explanation:
Budgeted overhead= $2,375,000
FOH budget variance= $129,000
Actual amount of fixed overhead= $2,375,000+$129,000
=$ 2,504,000
Therefore the actual amount of fixed overhead will be $ 2,504,000
