A) Producing the combination of goods most desired by society
Answer:
-The technology that is available for the market.
- The nature of the products
Explanation:
Latest technology often able to produce larger amount of products with significantly lower time. This will help reduce the overall cost of production in the long run. Business owner need to consider this and calculate whether the initial investment that needed to be made to install the technology will worth the value in the long run.
Nature of the products consisted of all the characteristics that our products process. For example food products tend to not have a long shelf life unlike fashion product. This difference in characteristics influence the type of production method that business owners could implement.
For example, It is impossible for business owners to mass produce produce food products with the expectation that it can maintain their quality in the warehouse, but producer of fashion products could make that expectation.
Answer:
Elena wants to open a Chinese restaurant near a university. She has the required capital to start her restaurant. However, she is unable to find
good chefs for her restaurant. Which type of resource is Elena lacking?
Elena is lacking Labor resource.
Explanation:
The Labor resource is the term related with the people needed for running the operation of a business. In this case Elena has the need for the chefs that will help you with the elaboration of the dishes that she wants to offer.
A business usually needs the following type of resources: labor, capital and land.
As we said previously Labor is the resource related to people.
Land is the resource related to the physical space where you want to set up your business. e.g store, online site, offices, building and so on.
Capital is the resource related to the money or financial investment needed to cover the initial launching costs.
Answer:
Please refer the reason in detail below
Explanation:
For state and local government entities, additional standards are promulgated by the Governmental Accounting Standards Board ("GASB") and for the federal government, additional standards are promulgated by the Federal Accounting Standards Advisory Board ("FASAB").
GASB considers budgetary comparisons as an important part of the basic financial statements and financial reporting and therefore include budgetary comparisons in their concept statements