The Production Planner for a Private Label Soft Drink Maker $\le$

question 11

Multiple Choice

The production planner for a private label soft drink maker is planning the production of two soft drinks: root beer (R) and sassafras soda (S) .Two resources are constrained: production time (T) ,of which she has at most 12 hours per day; and carbonated water (W) ,of which she can get at most 1500 gallons per day.A case of root beer requires 2 minutes of time and 5 gallons of water to produce,while a case of sassafras soda requires 3 minutes of time and 5 gallons of water.Profits for the root beer are $6.00 per case,and profits for the sassafras soda are $4.00 per case.What is the production time constraint (in minutes) ?

• A)2 R + 3 S \(\le\) 720
• B)2 R + 5 S \(\le\) 720
• C)3 R + 2 S\(\le\) 720
• D)3 R + 5 S \(\le\) 720
• E)5 R + 5 S \(\le\) 720

Identify the roles and jobs of money in an economy.

Describe the Keynesian motives for holding money.

Differentiate between what is considered money and what is not in the economy.

Comprehend the factors influencing the motives for holding money.

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Definitions:

Economic Systems

The structured and organized methods by which societies allocate resources, distribute goods and services, and manage economic activity.

Factors of Production

are the inputs necessary for the creation of goods and services, which typically include land, labor, capital, and entrepreneurship.

Economic Function

The role or purpose that an economic activity serves in the broader economy, contributing to overall economic performance.

Profits and Losses

Financial gains achieved when revenue exceeds expenses, or deficits incurred when expenses outstrip revenue.