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1 year ago

Which individual is acting most like a consumer

Business

1 answer:

victus00 [196]1 year ago

8 0

Answer:

a person who hires a mechanic to fix their car

Explanation:

In business, consumers refer to the group of people who purchase either goods or services from another people,

Let's examine the options one by one

- a person whose job is selling goods at a market

Clearly the seller. This person does not purchase the goods. He/She sells it.

- a person who hires a mechanic to fix their car

This person is qualified as a consumer. He/she purchase a service from another person (the mechanic)

- a person eats a meal from vegetables grown in their garden

This person is qualified as a producer since he/she produce the vegetables, not purchasing it from other people

- a person sells their old television to a friend

Sam reason as the first option

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A catering company prepared and served 350 meals at an anniversary celebration last week using 8 workers. The week before, 2 wor

pav-90 [236]

Answer:

Labour productivity at an anniversary celebration = 43.75

Labour productivity at a wedding reception = 115

Labour productivity is higher at the wedding reception.

Explanation:

Labour productivity is the ratio of output to labour

Labour productivity at an anniversary celebration = 350 / 8 = 43.75

Labour productivity at a wedding reception = 230 / 2 = 115

Labour productivity is higher at the wedding reception. Less labour produces more more meals.

This can be explained by the law of diminishing marginal returns

the law of diminishing returns states that as more units of a variable input is added to a fixed income of production, output might increase at a point but after some time total output would increase at a decreasing rate and marginal product would be decreasing.

3 0

1 year ago

Here are data on two companies. The T-bill rate is 4.8% and the market risk premium is 5.9%. Company $1 Discount Store Everythin

tiny-mole [99]

Answer and Explanation:

The computation of the fair return for each company is shown below:

Fair Return = Risk free rate of return + Beta × market risk premium

= 4.8 + 1.6 × 5.9

= 14.24%

Now

Everything $5 is

= 4.8 + 1 × 5.9

= 10.7%

Hence, the same should be considered

8 0

1 year ago

Explain the impact of effective purchasing on an operation’s cash flow.

Paraphin [41]

Answer:

Thus, effective purchasing Implies buying the right items needed for operations at the right/fair price so as to reduce the total cost of operations, which invariably leads to more Profit since there's reductions in costs.

8 0

1 year ago

Which of the following best describe the interrelated components of internal control? Risk assessment process, backup facilities

kvasek [131]

Answer:

Control environment; risk assessment process; control activities; the information system, including related business processes; and monitoring of controls.

Explanation:

From the following, the OPTION which best illustrates the interrelated components of internal control is OPTION (C).

Because as we know that interrelated components of internal control consists of co-ordination, as well as handling and controlling the system, taking illustration of the work and making of positive decisions.

So this is the reason OPTION (C) will be the answer, as it also consist all of the components which are present in interrelated components of internal control.

6 0

2 years ago

Price, Variable Cost per Unit, Contribution Margin, Contribution Margin Ratio, Fixed Expense For each of the following independe

lesantik [10]

Answer and Explanation:

The computation is shown below:

1. Given that

Break even point units 115000 units

Fixed cost = $349,600

As we know that

CM per unit is

= Fixed cost ÷ Break even units

= $349,600 ÷ 115,000

= 3.04 per unit

Now

Selling price = Variable cost +CM per unit

= $4.56 + $3.04

= $7.60 per unit

2. Given that

Net Income at 15600 units is $166,000

Fixed cost = $458,000

So,

Contribution is

= $458,000 + $166,000

= $624,000

Now

CM per unit is

= $624,000 ÷ 15,600

= 40 per unit

Selling price per unit: 120

So,

Variable cost per unit is

= $120 - 40

= 80 per unit

And,

CM ratio is

= CM per unit ÷ Selling price per unit

= $40 ÷ 120 × 100

= 33.33%

3. Given that

Net Operating income = $22,500

CM ratio = 25%

Actual revenue = $235,000

So,

Contribution earned is

= $235,000 × 25%

= $58,750

Now

Fixed cost = Contribution - Net income

= $58,750 - $22,500

= $36,250

4. Given that

Variable cost ratio = 56%

Fixed cost = $103,840

Break even units= 23600 units

So,

CM per unit is

= $103,840 ÷ 23,600

= $4.40

CM ratio = 100 - 56% = 44%

And, the Selling price per unit is

= $4.40 ÷ 44%

= $10 per unit

Now

Variable cost per unit is

= $10 × 56%

= $5.60 per unit

And,

Contribution per unit is

= $10 × 44%

= $4.40 per unit

5 0

1 year ago