Table 12-7 -Refer to Table 12-7

question 11

Essay

Table 12-7
$\begin{array}{|l|c|c|}\hline \text { Product } & \text { Quantity } & \text { Price } \\\hline \text { iPods } & 20 & \$ 125.00 \\\hline \text { T-shirts } & 100 & 20.00 \\\hline \text { Bottled water } & 2,000 & 1.00 \\\hline \text { Pranges } & 600 & 0.50 \\\hline\end{array}$
-Refer to Table 12-7.Suppose that a simple economy produces only four goods and services: iPods,t-shirts,bottled water,and oranges.Calculate nominal GDP for this simple economy.

Categorize different groups of algae and their classifications within the tree of life.

Explain the role of microbial eukaryotes in the formation of geological formations and fossil fuels.

Understand the diversity of nutritional strategies among eukaryotic microorganisms, including photosynthesis, absorption, and ingestion.

Understand the basic structure and function of DNA.

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Definitions:

Units Sold

The total quantity of products that a company has sold to its customers during a particular time frame.

Net Income

The total earnings of a company after all expenses and taxes have been deducted from revenue.

Contribution Margin

The amount remaining from sales revenue after variable expenses are deducted, used to cover fixed costs and generate profits.

Gross Margin

Gross Margin is the difference between revenue and the cost of goods sold, divided by revenue, expressed as a percentage. It indicates the percentage of revenue that exceeds the cost of goods sold.