Which of the following suggests that by widening the market's size, international trade can permit longer production runs for manufacturers, which leads to increasing efficiency?
a. economies of scale
b. diseconomies of scale
c. comparative cost theory
d. absolute cost theory
a. economies of scale
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Jefferson has a capital balance of $65,000 and devotes full time to the partnership. Washington has a capital balance of $45,000 and devotes half time to the partnership. If no other information is available regarding distributions, in what ratio is net income to be divided?
a. 6.5:4.5 b. 1:1 c. 4.5:6.5 d. 1:2
Work in process inventory reflects a delay in getting products to customers, which is considered wasteful by lean businesses.
Answer the following statement true (T) or false (F)
________ is a measure of the percentage of people in a target market who are exposed to an ad campaign during a given period of time
A) Frequency B) Qualitative value C) Impact D) Premium E) Reach
Which of the following is NOT characteristic of values?
a. Values serve as guiding principles in people lives b. Values can create tension between subjective values and societies values c. Values are transituational d. Values are easy to change to suit the situation