How do consumers inform manufacturers about what to produce?

A. By writing letters to government officials

B. By making particular purchases

C. By paying attention to advertisements

D. By increasing their income

When an economy relies on specialization, A. the economy will generally produce only one product. B. the economy will usually be heavily agricultural. C.

Select the statements that are true. The amount of one currency that can be traded for a unit of another currency is the exchange rate. Many exchange rates float, or constantly change.

Use the following information for the next four questions. St. James, Inc. currently uses traditional costing procedures, applying $800,000 of overhead to products Beta and Zeta on the basis of direct labor hours.

The force that leads to zero economic profits for monopolistically competitive firms in the long run is a. excess capacity. b. price wars among firms. c. entry by new firms. d. excessive advertising.

A corn futures contract closed yesterday at a price of $2.40 a bushel. The maximum daily price range is $0.40 and the daily price limit is $0.20. Therefore, the: Question 1 options: a) highest closing price for today is $2.80 a bushel.

What role do entrepreneurs play in economics? Entrepreneurs tell consumers what they should want or need. Entrepreneurs create the businesses that produce products and services that meet the wants and needs of consumers.

Zhang company reported cost of goods sold of $842,000, beginning inventory of $38,600 and ending inventory of $47,000. the average inventory amount is:

Aces Inc., a manufacturer of tennis rackets, began operations this year. The company produced 6,200 rackets and sold 5,100. Each racket was sold at a price of $92.

Farmbeck, Inc. used direct materials of $500,000 and conversion costs of $535,500. Farmbeck started 100,000 units into production during the month, of which 92,000 units were completed.

Shoshone County uses the consumption method to account for supplies. At the beginning of the year the city had no supplies on hand. During the year the city purchased $450,000 of supplies for use by activities accounted for in the general fund.