Answer:
1. <u>implicit cost</u>
2.<u> explicit cost</u>
3. <u>implicit cost</u>
4. <u>explicit cost</u>
Explanation:
Implicit costs refer to those costs that represent opportunity cost. In simple terms they are notional or those which haven't been actually incurred but considered.
Opportunity costs refer to the cost of sacrificed alternatives when an alternative is opted for. For instance, a student pursuing post graduation incurs implicit cost in the form of income foregone had he chosen to work instead for the same duration.
In the given case, the foregone rental income Jacques would've earned had he chosen to rent out his showroom represents opportunity cost or implicit cost.
Similarly, the salary Jacques sacrificed by working in boat business represents implicit cost.
The wages and utility bills that Jacques pays and wholesale cost which he pays represent costs which have actually been incurred, which are termed as explicit costs.
Answer:To allocate scarce goods and resources, a market economy uses non-price rationing preferential treatment price rationing . this means that individuals will get the goods and services if they have the ability to pay meet the government's requirements stand in line at the store.
Explanation: hope this helps u! (:
Answer:
26.4%.
Explanation:
Net Profit:
= Saving of Labor & other Costs - Maintenance Cost of Machine - Depreciation On Machine (100,000/ 16 years)
= $40,000 - $10,000 - $6,250
= $23,750
Initial Investment:
= Cost of new Machine - Salvage value of old machine
= $100,000 - $10,000
= $90,000
Simple Rate of Return = Net Profit ÷ Initial Investments
= $23,750 ÷ $90,000
= 0.264 × 100
= 26.4%
Answer:
More-deceloped country
Explanation:
Industrialized countries with high per capita incomes, such as Canada, England, France, Germany, Japan, and the United States fall into the category of more-developed country
Answer:
The answer is: $215,000
Explanation:
Railway Company should include the goods worth $35,000 that Rogers Consignment store has. Once this amount is included, the total inventory for Railway Company should be $215,000 ($180,000 + $35,000).
Merchandise purchased and shipped as FOB destination, belongs to the seller until it has been properly delivered to the buyer. It will increase the inventory once it arrives on January 3.
