"Wonderful! Not only did our salespeople do a good job in meeting the sales budget this year, but our production people did a good job in controlling costs as well," said Kim Clark, president of Martell Company. "Our 18,300 overall manufacturing cost variance is only 1.2% of the 1,536,000 standard cost of products made during the year. That's well within the 3% parameter set by management for acceptable variances. It looks like everyone will be in line for a bonus this year."The company produces and sells a single product. The standard cost card for the product follows:The following additional information is available for the year just completed:a. The company manufactured 30,000 units of product during the year.b. A total of 64,000 feet of material was purchased during the year at a cost of 8.55 per foot. All of this material was used to manufacture the 30,000 units. There were no beginning or ending inventories for the year.c. The company worked 43,500 direct labor hours during the year at a direct labor cost of 15.80 per hour.d. Overhead is applied to products on the basis of standard direct labor hours. Data relating to manufacturing overhead costs follow:Denominator activity level (direct labor-hours)....Budgeted fixed overhead costs (from the overhead flexible budget)..Actual variable overhead costs incurred... 35,000 $210,000 $108,000 $211,800 Actual fixed overhead costs incurred. 211,800 Required:
(c) For manufacturing overhead compute:
1. The variable overhead rate and efficiency variances for the year.
2. The fixed overhead budget and volume variances for the year.
Answers
The total variance is $18,180.00
The direct material quantity variance is $33,800.00
The direct material price variance is $6,400
The direct material price and quantity variance is calculated in the table form which is attached with this answer.
1-Material Variances - The difference between the budgeted/standard material cost for a product and the actual material costs after production. Material variances are calculated for the effect of changes in quantity consumed and changes in price of the raw materials price.
It is calculated as follows:
Material price variance=Actual quantity×(Actual price−Standard price)
Material quantity variance=(Actual quantity−Standard quantity)×Standard price
2- Labor variances - Direct labor cost variance is the difference between the standard cost for actual production and the actual cost in production.
It is calculated as follows:
Labor efficiency variance=(Actual hours−Standard hours)×Standard rate
Labor rate variance=(Actual rate−Standard rate)×Actual hours
3- Overhead Variance – Overhead variance is the difference between the actual overheads and the expected/budgeted overheads.
It is calculated as follows:
Overhead rate variance=(Actual rate−Standard rate)×Actual hours
Overhead efficiency variance=(Actual hours−Standard hours)×Standard rate
Overhead budget variance=Actual overhead−Budgeted overhead
Overhead volume variance=(Standard hours allowed−Denominator activity level)×Overhead rate per hour)
What is direct material Variance ?
The direct material variance is the difference between the standard cost of materials resulting from production activities and the actual costs incurred.
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Related Questions
Dr. West's has a fixed asset turnover rate of 1.26 and a total asset turnover rate of 0.97. Medicine Ball's has a fixed asset turnover rate of 1.31 and a total asset turnover rate of 0.94. Both companies have similar operations. Based on this information, Dr. West's must be doing which one of the following? Maintaining the same level of current assets as Medicine Ball's Utilizing its fixed assets more efficiently than Medicine Ball's Generating $1.26 in net income for every $1 in net fixed assets. Utilizing its total assets more efficiently than Medicine Ball's Generating $1 in sales for every $1.26 in net foxed assets
Answers
Based on the information given, Dr. West's has a higher fixed asset turnover rate than Medicine Ball's (1.26 compared to 1.31), which indicates that Dr. West's is utilizing its fixed assets more efficiently than Medicine Ball's. This means that Dr. West's is generating more sales relative to its investment in fixed assets.
However, the total asset turnover rate of Dr. West's is lower than that of Medicine Ball's (0.97 compared to 0.94). This suggests that Dr. West's is not utilizing its total assets as efficiently as Medicine Ball's in generating sales. Therefore, based on the information provided, Dr. West's must be doing the following: Utilizing its fixed assets more efficiently than Medicine Ball's.
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cthe condo price increases annually by the annual rate of inflation of 2 percent per year over the next 10 years.
Answers
Over the next 10 years, the condo price is projected to increase annually by the rate of inflation, which is set at 2 percent per year. This means that the price of condos will steadily rise in line with the general increase in prices across the economy.
The condo price is expected to experience an annual growth rate equivalent to the annual rate of inflation, set at 2 percent per year, for the next 10 years. Inflation refers to the general increase in prices of goods and services in an economy over time.
This means that as the cost of living and expenses rise, the price of condos will also follow suit. The 2 percent annual increase accounts for the expected rise in the overall price level and reflects the average inflation rate projected for the foreseeable future.
Consequently, potential buyers and sellers in the condo market should consider this inflationary trend when assessing future prices and making investment decisions.
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the role of music my life...
Answers
Answer:
yes
Explanation:
role of music is very important
Which of the following is an example of race?
Answers
Answer:
make sure to put the examples:)
Explanation:
if you dont we wont be able to know what you meant
1) Nelson Company began operations on December 1, Year 1. The following transactions and adjustments were recorded in December and posted to the company’s ledger accounts:
5) Purchased $500 of supplies on account to be used in January
1.1) Acquired $3,800 cash from the issue of common stock to its stockholders
2.2) Provided services on account for $3,300
3.3) Paid $1,900 cash for land
4.4) Owed $1,400 of salaries expenses to employees for work done in December that will be paid during January
5.6) Collected $1,700 from customers
What is the total of the debit account balances that will be reported on the company's adjusted trial balance at December 31, Year 1?
A) $6,900
B) $9,000
C) $5,200
D) $3,500
Answers
The total of the debit account balances that will be reported on the company's adjusted trial balance at December 31, Year 1 is B) $9,000
Nelson Company Adjusted trial balance at December 31, Year 1
Debit side
Cash $3,600
($3,800+$1,700-$1,900)
Account Receiveble $1,600
($3,300-$1,700)
Supplies $500
Land $1,900
Salaries expenses $1,400
Total debit balance $9,000
Credit side
Account payable $500
Salaries payable $1,400
Common stock $3,800
Service revenue $3,300
Total Credit balance $9,000
Inconclusion The total of the debit account balances that will be reported on the company's adjusted trial balance at December 31, Year 1 is B) $9,000
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describe the student's role with the employer and how that role is directly relatd to enhancing the students knowledge obtained through her stem degree
Answers
The student's role with the employer can vary depending on the nature of the employment, The student's role with the employer is to contribute to the organization's objectives while gaining practical experience.
This can involve completing tasks related to research, development, or production of products or services, as well as collaborating with colleagues and supervisors.
Through this employment, the student can enhance her knowledge obtained through her STEM (Science, Technology, Engineering, and Mathematics) degree in several ways. Firstly, by working on real-world projects, the student can apply the theoretical concepts she learned in her courses and gain practical experience in her field. This can deepen her understanding of how the concepts and theories apply in practice and expose her to new technologies, techniques, and methods.
Secondly, the student can learn from her colleagues and supervisors, who may have more experience and expertise in the field. This can help the student gain new insights and perspectives, and learn about the latest trends and developments in the field. The student can also benefit from mentorship and guidance from her employer, who can help her identify areas of strength and weakness and provide feedback on her work.
Finally, the student can develop skills such as problem-solving, critical thinking, communication, teamwork, and time management through her employment. These skills are essential in the STEM field and can enhance the student's career prospects after graduation.
In summary, the student's role with the employer is to gain practical experience in her field of study while contributing to the organization's objectives. This employment can directly enhance the student's knowledge obtained through her STEM degree by allowing her to apply theoretical concepts in practice, learn from colleagues and supervisors, and develop essential skills.
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Whom does the government and public administration career clutter serve?
A. Private citizens
B. Army and navy
C. Government employees and the military
D. National security and the foreign service
Answers
Answer:
it is A. Private citizens
Explanation:
edge 2020 :)
In the tutorial, you learned about various types of employee compensation. How would you structure the compensation for a new administrator? What incentives would you offer? Why?
Answers
As an Employee Compensation professional, the best way to structure the compensation of an organization, not just the administrator is to ensure that it meets the triple criteria of:
EquityCapacityObjectivity.Equity means that it is a scientific process that ensures that the system is fair, Capacity means that the company must be able to meet the compensation structure. Objectivity means that the structure helps to attain organizational objectives.
How would one structure the compensation of a new Administrator?Note that the role of an administrator involves a lot of interfacing and is both an office role and an onsite role in most cases.
In light of the above, you want to ensure that besides the basic components of
Basic SalaryHousing Allowance andTransport and other allowances such as Data, Call Credit, etc must be taken into consideration.Learn more about compensation:
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the foreign corrupt practices act outlawed question 13 options: accounting fraud. price collusion. corruption in government. bribery of officials in other countries. executive misconduct.
Answers
The foreign corrupt practices act outlawed d. bribery of officials in other countries.
What is corrupt practices act?
The United States passed the Federal Corrupt Practices Act, often known as the Publicity Act, in 1910 and revised it in 1911 and 1925. Up until the Federal Election Campaign Act was passed in 1971, it remained the basic legislation of the country governing campaign funding in federal elections. On June 25, 1910, President William Howard Taft signed the Act.
For House general elections, the Act set expenditure caps for political parties. By mandating political party national committees to provide post-election reports on their contributions to particular candidates and their own expenditures, it was the first federal law to call for the public disclosure of spending by political parties but not by candidates.
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If the labor force is 1000 workers, but 32 are unemployed, what is the unemployment percentage?
Answers
3.2% is the unemployment percentage, if the labor force is 1000 workers, but 32 are unemployed.
What is the reason of unemployment?Unemployment is influenced by a lot of circumstances on both the demand and supply sides. Rising interest rates, a global recession, and a banking meltdown may all contribute to demand-side decreases. Underemployment and structural employment have a big impact in the supply side.
Thus, it is 3.2 percent.
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Economists mostly argue that skill-biased technological change is a better explanation for the global rise in income inequality than international trade. True False
Answers
True. Economists generally argue that skill-biased technological change has been a more significant driver of the global rise in income inequality compared to international trade.
Skill-biased technological change refers to technological advancements that disproportionately benefit high-skilled workers, leading to an increase in their wages and income. This phenomenon has contributed to the growing wage gap between skilled and unskilled workers. While international trade can also have an impact on income inequality, the consensus among economists is that technological change has played a more significant role in driving inequality trends.
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the type of listing that assures a broker of compensation for procuring a customer, regardless of the procuring party, is a(n)
Answers
A(n) listing is the kind that guarantees a broker payment for bringing in a client, irrespective of the party doing the bringing in exclusive selling rights.
If you sign a purchase agreement with a buyer within a predetermined period of time after your listing agreement expires and that buyer was introduced to your property during the listing agreement, a holdover clause enables your real estate brokerage to collect its fee or commission from you.
If a sale happens after the listing agreement ends, a real estate broker is entitled to a fee under a safety protection provision. Open listings are uncommon since they provide the least guarantee that the broker will be paid for their work.
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How do you use the Selection Bar to select an entire document?
single-click in the Selection Bar
double-click in the Selection Bar
triple-click in the Selection Bar
quadruple-click in the Selection Bar
Answers
The answer is triple-click in the Selection Bar.
The Selection Bar is the gray bar on the left side of the document, next to the line numbers, in most text editing software. To select an entire document, you need to triple-click in the Selection Bar. This will highlight all the text in the document, making it ready for any editing or manipulation.
A single-click in the Selection Bar will select a line of text.
A double-click in the Selection Bar will select a word.
A quadruple-click in the Selection Bar is not a common method to select an entire document and it may not work in all the text editing software.
It's worth noting that there are also other ways to select an entire document, such as using keyboard shortcuts (Ctrl+A or Command+A) or by going to the Edit menu and selecting "Select All."
Keep in mind that the method of selection may vary depending on the text editor you are using, but the triple-clicking the Selection bar is a common method.
Hope This Helps You!
ralph and his wife are hoping to purchase their new home. their lender is running their credit scores. how are ralph and his wife’s credit scores determined?
Answers
Ralph and his wife's credit scores are determined by a variety of factors that reflect their creditworthiness. The higher the credit score, the lower the risk of defaulting on a loan.
Credit scores are calculated based on several factors, including payment history, outstanding debts, length of credit history, types of credit used, and new credit applications. Payment history, which is the record of paying bills on time, has the most significant impact on credit scores. Outstanding debts, or the amount of debt owed, also plays a significant role in determining credit scores.
The length of credit history is another crucial factor that determines credit scores. The longer an individual has been using credit, the more information lenders have to assess their creditworthiness. Additionally, the types of credit used, such as credit cards, car loans, and mortgages, also impact credit scores. Finally, new credit applications can negatively affect credit scores, as they indicate a higher risk of defaulting on a loan.
Overall, Ralph and his wife's credit scores are determined by a complex algorithm that takes into account several factors. Maintaining a good credit score is essential for obtaining favorable interest rates and loan terms.
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If bank with leverage of 8 to 1 increases its assets by adding $1 to capital for every $1 added to assets:
a. leverage increases.
b. leverage decreases.
c. leverage stays constant.
d. the answer cannot be determined from the information in the question.
Answers
If a bank with a leverage of 8 to 1 increases its assets by adding $1 to capital for every $1 added to assets: leverage decreases. Thus, option B is the correct option.
Leverage falls if an 8:1 bank raises assets by increasing capital by $1 for every $1 growth in assets. Deleveraging is the process through which a business or person tries to reduce their overall financial leverage. Deleveraging, then, is the elimination of debt and the polar opposite of leverage.
Paying up any outstanding debts and commitments on an entity's balance sheet right away is the quickest approach to deleveraging. If unable to do so, the business or person may be at an elevated risk of default. Deleveraging aims to lower the proportion of a company's balance sheet that is supported by liabilities.
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In the context of budget deficits, what is crowding out?.
Answers
You have enough money to buy a a large bag of chips and your favorite drink or a large pizza. What is your opportunity cost if you decide to buy the pizza?
The Pizza
The bag of chips and drink
Neither
Answers
Answer:
pizza
Explanation:
because it is saying that to take pizza what should you pay so i replace it pizza=pizza
If you decide to buy the pizza, your opportunity cost would be the bag of chips and drink. Option B is correct
The opportunity cost of buying the pizza would be the bag of chips and drink you could have chosen instead.
Opportunity cost refers to the value of the next best alternative that you have to give up when making a choice. In this case, if you choose to buy the pizza, you are forgoing the bag of chips and drink that you could have purchased with the same amount of money. The pizza is the primary topic of this question.
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Open enrollment periods are offered on a(n) ______ basis that allows individuals to enroll without evidence of insurability or to make changes.
Answers
Open enrollment periods are offered on a yearly basis that allows individuals to enroll without evidence of insurability or to make changes.
During these periods, individuals can sign up for health insurance plans or make changes to their existing coverage without having to provide proof of their health status.
This means that they can enroll or switch plans regardless of any pre-existing conditions they may have. Open enrollment periods typically occur once a year and usually last for a few weeks or months. This allows individuals to review their insurance options and make informed decisions about their healthcare coverage.
These periods are designed to provide individuals with the opportunity to access and make changes to their insurance coverage in a fair and equitable manner.
In conclusion, open enrollment periods are an annual opportunity for individuals to enroll in or make changes to their health insurance plans without having to provide evidence of insurability.
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Raw material and resource prices increase significantly in the US: Computer technology brings new efficiency to industries. There is a significant increase in consumer spending- Labor productivity increases dramatically due to new training programs The government raises corporate taxes significantly _ An increase in expected inflation causes workers to demand higher wages_ 10. The government gives tax credits to businesses There is a significant decrease in the price of electricity. 12. Due to a trade dispute , oil prices more than double_ Businesses begin tracking inventories ectronically, increasing efficiency_ 14.A significant increase in government transfer payments to individuals'
Answers
Each of these situations can affect the economy in various ways. Some can lead to economic growth, while others may trigger inflation, reduce profits, or change the balance of trade, reflecting the intricate dynamics of economic variables.
Raw material price hikes and higher wages due to expected inflation can increase production costs, potentially leading to inflation if businesses pass these costs onto consumers. Similarly, significant corporate tax increases and sharp rises in oil prices can reduce profits and economic growth. On the other hand, efficiency gains from computer technology, new training programs, and electronic inventory tracking can boost productivity, lowering costs and promoting growth. Increased consumer spending, tax credits for businesses, and a significant decrease in electricity prices can stimulate economic activity. However, a substantial rise in government transfer payments to individuals might result in a budget deficit if not balanced by increased revenue.
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McGlone Corporation had a 1/1/17 balance in the Allowance for Doubtful Accounts of $40,000. During 2017, it wrote off $28,000 of accounts and collected $8,400 on accounts previously written off. The balance in Accounts Receivable was $800,000 at 1/1 and $960,000 at 12/31. At 12/31/17, McGlone estimates that 5% of accounts receivable will prove to be uncollectible. What should McGlone report as its Allowance for Doubtful Accounts at 12/31/17
Answers
Answer:
$48,000
Explanation:
The computation of the amount that should be reported as its allowance for doubtful accounts is shown below
= Ending balance of account receivable × uncollectible percentage
= $960,000 × 0.05
= $48,000
hence, the amount that should be reported as its allowance for doubtful accounts is $48,000
The above formula should be applied
Four people are applying for a job. This chart shows the company’s favorite characteristic of each of these job applicants:
Answers
Management at Work Brian, Felix, Daesun, Nathan, and Jared are wool blanket makers, all of whom perform the following steps each year: 1. Raise and take care of sheep 2. Shear sheep to obtain pounds of wool 3. Prepare wool to be turned into blankets 4. Make blankets 5. Bring blankets to market for sale Suppose Brian proposes that-instead of each man performing all five tasks-they divide the tasks so that Brian raises and takes care of all the sheep, Felix shears the sheep to obtain the wool, Daesun prepares the wool to be turned into blankets, Nathan makes the blankets, and Jared brings the blankets to market for sale. The men agree to this proposal and find that specialization in the absence of hierarchy yields both positive and negative outcomes. In the following table, indicate which outcomes reflect benefits and which reflect drawbacks to the men's new system. Benefit Drawback The machinery that Daesun buys is much more efficient than Felix's machinery, so Daesun spends idle time waiting for Felix to provide him with wool. Each worker can devote more time to his task, because he does not have to spend time transporting blankets to the market. The cost of renting one large blanket-selling stand at the market is less than the combined cost of renting five small stands
Answers
Brian, Felix, Daesun, Nathan, and Jared are wool blanket makers perform tasks such as raise and take care of sheep, shear sheep to obtain pounds of wool, prepare wool to be turned into blankets, make blankets, and bring blankets to market for sale.
What are the benefits and drawbacks of specialization?The benefits of specialization are as follows: Each worker can devote more time to his task because he does not have to spend time transporting blankets to the market. The machinery that Daesun buys is much more efficient than Felix's machinery.
Drawbacks of specialization are as follows: Daesun spends idle time waiting for Felix to provide him with wool. The production process could be slowed down due to the non-availability of wool in time.
In conclusion, the wool blanket makers should analyze the drawbacks and benefits of specialization and then decide whether to move forward with specialization or not.
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Ruff Games, Inc., wishes to acquire a controlling interest in Smart Toy Company by buying its stock. Smart Toy is
A an alien corporation.
B an acquiring corporation.
C a receiver.
D a target corporation.
Answers
Smart Toy Company can be classified as a D, a target corporation. When Ruff Games, Inc. aims to acquire a controlling interest in Smart Toy Company by purchasing its stock, Smart Toy Company becomes the target of the acquisition. In this scenario, Ruff Games, Inc. is the acquiring corporation, as mentioned in option B.
To provide some more information, a target corporation is the entity that is being sought after for acquisition or takeover. It is the company that another organization wants to gain control over by buying its stock or shares. The acquiring corporation, on the other hand, is the entity that is seeking to gain control over another company through the acquisition process.To summarize, the correct answer is D, a target corporation, as Smart Toy Company is the company that Ruff Games, Inc. wants to acquire.
In this case, Ruff Games, Inc. intends to acquire a controlling interest in Smart Toy Company, indicating that Smart Toy Company is the target corporation. It's important to note that an alien corporation (option A) refers to a company incorporated under the laws of a foreign country, which is not applicable in this context. Similarly, a receiver (option C) typically refers to a person or entity appointed by a court to manage the affairs of a bankrupt company, which is also not relevant here .To summarize, the correct answer is D, a target corporation, as Smart Toy Company is the company that Ruff Games, Inc. wants to acquire.
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How does a fixed exchange rate set the value for a currency?
A. By setting it at a specific value based on another currency
B. By adjusting the price based on the supply and demand for it
C. By comparing the terms of trade between multiple countries
D. By evaluating the overall economic health of different countries
Answers
A fixed exchange rate set the value for a currency by setting it at a specific value based on another currency. Thus the correct answer is A.
What is currency?A currency is referred to as a form of money that is utilized for buying and selling goods. This currency differs in value from country to country. A fixed exchange rate system is one in which the value of one currency is equal to the valuation of another common currency.
Two currencies from different countries will be shared at an equal price with the help of a fixed exchange rate, the prices of the currency will fluctuate based on the factors like demand and supply as well as inflation.
Therefore, option A by setting it at a specific value based on another currency is appropriate.
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Answer:
A. By setting it at a specific value based on another currency
Explanation:
The following table shows the units of steel and personal computers a worker can produce per month in Germany and South Korea. Use this table to answer the question.
Tons of steel Personal Computers (PC)
Germany 40 10
South Korea 16 8
Which of the following statements about absolute advantage are true?
a. Neither country has an absolute advantage in the production of either good.
b. South Korea has an absolute advantage in the production of steel while Germany has an absolute advantage in the production of PCs.
c. Germany has an absolute advantage in the production of steel while South Korea has an absolute advantage in the production of PCs.
d. South Korea has an absolute advantage in the production of both steel and PCs.
e. Germany has an absolute advantage in the production of both steel and PCs.
Answers
Answer:
Option E
Explanation:
Absolute advantage means that with the same input one country is able to produce more goods and services as compared to the other.
As we can see, Germany is able to produce 40 tons of steel with the same inputs as that of South Korea.
In the same way, Germany is able to produce 10 personal computers with the same inputs as that of South Korea.
Hence, Germany has an absolute advantage in the production of both steel and PCs
Option E is correct
In general, the ____ risk you are willing to take the ____the possible return on your investments.
Answers
Answer: sexual aids
Explanation:
Description
CS city hires M workers who drive water trucks. They spray water on the streets to clean them, and reduce the dust concentration.
There are N streets in CS city. The city has a dust control plan, which uses a task scheduler to generate a daily cleaning plan. This plan tells each worker what streets they are responsible for, and ideally all streets will be cleaned.
For example, the plan tells worker A to clean street 0 to street 3 ([0,3]), worker B to clean streets [4, 6]. This plan will clean 7 streets.
However, the task scheduler is buggy. Today it tells worker A to clean streets [0, 3] and tells worker B to clean streets [3, 5]. Someone realizes that two workers cleaned street 3 twice, and no one cleaned street
6. It's your job to write a program to automatically detect the task scheduler's bugs, and report how many streets are not cleaned in today's plan.
Input Format
The first line contains two integers M, N. M is the number of workers, and N is the number of streets. The following M lines are just the plan generated by task scheduler. Each line contains two integers [Li,
Ri]. It indicates that worker i should clean street Li to Ri.
Output Format
One integer, representing how many streets have not been cleaned.
Sample
Answers
The notion that producers' choices must eventually be in line with customer desires is referred to as "consumer sovereignty."
Why do you use the word demands?
Demand is really the consumer's intention to buy a specific product or service. The desire for a certain item on the market is known as market demand. The entire demand for services and goods in the economy is known as aggregate demand. How well market forces align will decide how much a good or service will cost.
Why does demand matter?
The link between the supply and demand is crucial because it helps to establish the costs and availability of the majority of products and services in a particular market. The interplay between both supply and demand eventually balances out in accordance with the tenets of a market economy.
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The main types of markets are called _____.
residential
consumer
industrial
customer
Answers
A person who makes goods or provides services is called a
Answers
Answer:
Manufacturers
Explanation:
Because I said
two regional ________ have shut down amid a nationwide financial slowdown.
Answers
Answer:
This makes the Great Lockdown the worst recession since the Great Depression, and far worse than the Global Financial Crisis.