Market failure occurs when a free market is unable to

a. distribute resources efficiently.

b. provide open opportunity

c. meet government regulations.

d. encourage innovation

A worker in charge of assembling a bicycle finds a faster way to mount the pedals. He turns to his supervisor.

During May, Keenan Company accumulated 570 hours of direct labor costs on Job 200 and 610 hours on Job 305. The total direct labor was incurred at a rate of $20 per direct labor hour for Job 200 and $23 per direct labor hour for Job 305.

The primary participants in a market are A. firms who supply the product and consumers who buy it, but government policies such as taxes also play an important role in the operation of markets. B.

Assume that the MPC is 0.75. Full employment is considered to be at a GDP level of $500 billion. The GDP is $600 billion.

12. The Waverly Brush Company issued 4,000 shares of common stock worth $200,000.00 total. What is the par value of each share? A. $400 B. $500 C. $40 D. $50 User: 13. All insurance is based on a principle called A. division of risk. B.

Occurs when a country has a monopoly on producing a product or is able to produce it at a cost well below that of all other countries. Multiple Choice o Dumping advantage o Complete advantage o Comparative advantage o Absolute advantage

Better Publications sold annual subscriptions to their magazine for $42,000 in December, 2016. The magazine is published monthly. The new subscribers received their first magazine in January, 2017.

What is the primary thing a company risks when attempting to find a cheaper vendor? A. reliability B. quality C. delivery timeline D. consistency

Activity based costing can be used by the buyer to:a. correct the distortions built into product costing by the way that direct costs are allocated. b.

Craftmaples, a chain of handicraft stores, was established with the purpose of preserving traditional handicrafts. The company's strategic purpose is clear to all its employees, and all of them work toward achieving the same purpose.