James is the owner of a small toy manufacturing company. James primarily focuses on buying and selling a product using the Internet. Which of the following best describes James business practice

The business market consists of all the organizations that acquire goods and services used in the production of other products or services that are sold, rented, or supplied to others.

Orion Flour Mills purchased a new machine and made the following expenditures: Purchase price $65,000 Sales tax 5,500 Shipment of machine 900 Insurance on the machine for the first year 600 Installation of machine 1,800 The machine, including sales

The following information is from the Income Statement of the Cheyenne Laundry Service: Revenues Service Revenues $5720 Expenses Salaries and wages expense $ 2160 Advertising expense 440 Rent expense 260 Supplies expense 180 Insurance expense 90

At nick's bakery, the cost to make homemade chocolate cake is $4 per cake. as a result of selling five cakes, nick experiences a producer surplus in the amount of $17.50. nick must be selling his cakes for

The major shortcoming of a barter economy is A. the requirement of specialization and exchange. B. that goods and services are not traded. C. that money loses value from inflation. D. the requirement of a double coincidence of wants.

A company wishes to make $8,000,000 per year in sales. 45% of revenue is from product sales, 35% is from annual maintenance, and 20% is from training.

Consider an economy with only two sectors: manufacturing and service. Both sectors are perfectly competitive, and labor is homogeneous. Assume that changes in the labor market do not affect the product demand curve in either sector.

A variable that likely is incorporated in the error term is: A. The fixed cost of production B. the variable cost of production C. Profit from popsicle sales

Domingo Corporation makes a variety of headphones with logos. The company has discovered a new market for wireless headphones with logos. Market research indicates that these headphones would sell well in the market priced at $34.80 each.

Derek has liquid assets of $4,450 and he saves $615 a month. His current liabilities are equal to $1,750 and monthly credit payments of $425. Derek's gross income is $5,900 each month and a take-home pay of $4,775.