Which of the Four Types of Economic Decision Makers Is

question 52

Multiple Choice

Which of the four types of economic decision makers is most important?

• A)firms, because they produce all goods and services in the economy
• B)households, because they demand goods and services and supply resources
• C)government, because it ultimately sets and enforces the "rules of the game"
• D)government, because it steps in when there is market failure
• E)the rest of the world, because there are over 150 countries

Learn how to calculate budgeted purchases based on beginning and ending inventory, and the cost of goods sold.

Gain knowledge of sales budget preparation, including unit sales, sales prices, and ending inventory desires.

Get familiar with the concept of safety stock and its role in inventory management.

Identify factors influencing the preparation of a sales budget.

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Definitions:

Spatial

Relating to, occupying, or having the character of space.

Conventional Pattern

a traditional or commonly accepted way of organizing or doing something.

Cause and Effect

The relationship between events where one or more are the result of the other(s), illustrating how interactions occur.

Organizational Pattern

The structured arrangement of ideas in a written or spoken form to effectively convey a message to the audience.