1. Inventory is:Group of answer choicesa. the total amount of goods that a company produces now, regardless of whether they've sold it or not.b. the stock of goods that a company produced last year, but had to sell for below cost.c. the stock of goods that a company produces now, but keeps to sell at a future time.d. the stock of goods that a company produces and sells in a given time perio 2. The four categories of expenditure (spending) in the economy are wages, rent, interest, and profit.Group of answer choicesTrueFalse

Question
Asked Sep 30, 2019
10 views

1. Inventory is:

Group of answer choices

a. the total amount of goods that a company produces now, regardless of whether they've sold it or not.

b. the stock of goods that a company produced last year, but had to sell for below cost.

c. the stock of goods that a company produces now, but keeps to sell at a future time.

d. the stock of goods that a company produces and sells in a given time perio

 

2. The four categories of expenditure (spending) in the economy are wages, rent, interest, and profit.

Group of answer choices

True

False

check_circle

Expert Answer

Step 1

1. Inventory is a stock or store of goods. Every company store goods as inventory which will keep fo...

Want to see the full answer?

See Solution

Check out a sample Q&A here.

Want to see this answer and more?

Solutions are written by subject experts who are available 24/7. Questions are typically answered within 1 hour.*

See Solution
*Response times may vary by subject and question.
Tagged in

Business

Economics

Macroeconomic models

Related Economics Q&A

Find answers to questions asked by student like you
Show more Q&A
add
question_answer

Q: Sam has two options this weekend. He could work at his job and earn $9/ hour for three hours, or he ...

A: Next best alternative cost is the opportunity cost. If Sam is going to theatre, he would spend $30 f...

question_answer

Q: 6. Classify each of the following statements as positive ornormative. Explain.a. Society faces a sho...

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and s...

question_answer

Q: ities/97507c54-29b3-4b89-bbid-c07ca40b872e/curiosity-feed?section=ef2825d6-34c2-4bae-8d5b-fec67cf632...

A: Tax:Tax is a compulsory payment which is imposed by the government of the country and for the govern...

question_answer

Q: For each scenario, calculate the cross-price elasticity between the two goods and identify how the g...

A: Cross price elasticity of demand: It refers to the degree of responsiveness of demand for one good w...

question_answer

Q: Assume that a national restaurant firm called BBQ builds 10 new restaurants at a cost of $ 1 million...

A: Economic investment refers to an increase in the capital stock of a company, here, BBQ. That means, ...

question_answer

Q: A manufacturer of entertainment centers uses the completion of new homes as part of their demand for...

A: Given:For every 5 new home which cost over $300000, the forecast sale = 1For every 20 new home which...

question_answer

Q: Can you please explain how to calculate Total Cost, Total Benefit, and Net Benefit from looking at a...

A: Total cost is the cost that measures the total opportunity cost of each production factor irrespecti...

question_answer

Q: After World War II, the United States was the world’s dominant economic power. We’re still the large...

A: United States has a world’s dominant economic power or leadership after World War II. The main reaso...

question_answer

Q: 1. Which of the following variables does not directly impact the quantity of a good the firm is will...

A: When the income of the consumer who buys the commodity changes, it changes the quantity demanded of ...