Using the factors of production to produce one item means there are fewer resources to use in the production of another.

a. True

b. False

Cycle Wholesaling sold merchandise on account, with terms n/60, to Sarah's Cycles on February 1 for $550 (cost of goods sold of $375).

12. At his regular hourly rate, Don had estimated the labor cost of a repair job as $336 and he was paid that amount. However, the job took 4 hours longer than he had estimated and consequentially he earned $2 less than his hourly rate.

A-Rod Fishing Supplies had sales of $2,160,000 and cost of goods sold of $1,550,000. Selling and administrative expenses represented 10 percent of sales. Depreciation was 6 percent of the total assets of $4,450,000.

In combination, the ginkgo biloba experiment and the hotel experiment demonstrated that:

Planned investment spending will decrease if: the interest rate rises. consumer expectations about wealth grow more optimistic. firms expect the growth of real GDP to increase. firms are producing near full capacity.

Regan grows flowers and makes ceramic vases. Jayson also grows flowers and makes ceramic vases. Regan can produce 3 times as many vases in a day as Jayson, and Regan can grow twice as many flowers in a month as Jayson.

Danny "Dimes" Donahue is a neighborhood's 9-year-old entrepreneur. His most recent venture is selling homemade brownies that he bakes himself. At a price of $1.50 each, he sells 100. At a price of $1 each, he sells 300. a.

Starting last December, one of the three major credit-score trackers, Experian, added paying monthly rent as one of its criteria for calculating a credit score.

Odell's Furniture has a manufacturing facility in Rigby, Idaho that has an effective capacity of 106 furniture pieces per day and produces 88 furniture pieces per day. What is the facility's efficiency rate? a. Write your answer as a percentage. b.

Benefits are offered by employers to attract good employees. a. True b. False