What are the three types of economic systems?

Benny employs people to sell candy bars at intersections. Assume that Benny can obtain candy bars to sell for no cost. The marginal product of the last worker Benny hired is 20 candy bars per hour.

If a market produces a level of output that exceeds the competitive equilibrium output, then a) producer surplus will be higher. b) social welfare will be higher. c) marginal cost will exceed price. d) All of the above.

Depreciation: A. Is applied to land. B. Is the process of allocating the cost of a plant asset to expense. C. Is an outflow of cash from the use of a plant asset. D. Measures the decline in market value of an asset. E.

Cycle counting: assumes that the most frequently used items must be counted more frequently. is a process by which inventory records are verified once a year. eliminates annual inventory adjustments. provides a measure of inventory turnover.

The inputs into production of goods and services that are provided by nature, such as land, rivers, and mineral deposits are calleda. physical capital. b. technological knowledge. c. natural resources. d. human capital.

2. Let's work out a simple example where a person smooths her consumption over time. Gwen is a real estate agent, and she knows that she will have some good years and some bad years.

What is the process of an economy's increasing industrialization, standard of living, and economic wealth.

the context of bringing the code of ethics of a company to life, which of the following statements is true when experts try to advocate a forceful, integrated approach to ethics?

Privatisation leads to ... A) Lower productivity and lower profit B) Higher productivity and higher profit C) Higher productivity and lower profit D) lower producitivity and lower profit

As of December 31, 2019, Armani Company's financial records show the following items and amounts. Cash $ 10,000 Accounts receivable 9,000 Supplies 6,000 Equipment 5,000 Accounts payable 11,000 A. Armani, Capital, Dec. 31, 2018 16,000 A.