Specialization is important in an economy because it leads to which important economic concept?

allocation of resources

price ceilings

government regulation

voluntary exchange

In order to ensure that american farmers can make enough money to support their families and to ensure that the american economy is stable, congress passes a law that states that no more than three billion pounds of raw sugar may be brought in to

Slapshot Company makes ice hockey sticks. Last week, direct materials (wood, paint, Kevlar, and resin) costing $28,000 were put into production. Direct labor of $28,000 (10 workers x 100 hours x $28 per hour) was incurred.

The 1997 a value of an object was $5000. In 2012, it was worth $9500. The annual percent growth has been constant. What is the annual percent growth? A) 1.37% B) 2.37% C) 3.37% D) 4.37%

How did monopolies and trusts affect industry and banking in the late 1800s?

How have you found yourself affected by Positioning Theory?

Which legal form of organization did ben cohen and jerry greenfield choose when they started their business?

How many mcdonald's are there in the world?

Inventories Raw materials $ 43,000 $ 52,000 Work in process 10,200 21,300 Finished goods 63,000 35,600 Activities and information for May Raw materials purchases (paid with cash) 210,000 Factory payroll (paid with cash) 345,000 Factory overhead

Tori's checking account charges a $10.75 monthly service fee and a $0.14 per-check fee. If Tori writes 19 checks per month, should she switch to a checking account that charges a $13.50 monthly service fee and no per-check fee?

Metlock Co. has a held-to-maturity investment in the bonds of Schuyler Corp. with a carrying value of $76,700. Metlock determined that due to poor economic prospects for Schuyler, the bonds have decreased in value to $65,000.