Give examples of pure tangible goods
What will be an ideal response?
Examples will vary. A company's market offering often includes both tangible goods and services. Examples of pure tangible goods include soap, toothpaste, or salt; no services accompany these products.
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All of the following may be exit barriers EXCEPT
a. employee health benefit costs. b. treatment, storage and disposal costs. c. penalties for terminating contracts with raw material suppliers. d. increasing opportunity cost of production.
The cost of wages paid to employees directly involved in converting materials to finished product is classified as direct labor cost
Indicate whether the statement is true or false
_____________ is the generation of meaningful ideas by individuals or teams.
What will be an ideal response?
In Sweden, businesses are free to sell any legal product they want in any manner they desire as long as it does not violate any laws or ordinances. The nation has a very liberal welfare policy with most citizens, even at an early age, receiving monthly pension checks from the government. What type of economic system is employed in Sweden?
A. Sweden has a command economy. B. Sweden has a socialist economic system as demonstrated by its pension program. C. Sweden has a free market capitalistic economy. D. Sweden has a mixed economy similar to the United States.