Ramone Company Had $600,000 in Net Sales for the Year

question 90

Multiple Choice

Ramone Company had $600,000 in Net Sales for the year 2010. The total assets at the beginning of the year were $240,000 and total assets at the end of the year were $280,000. The ratio of net sales to total assets is (round answer to 2 decimal places) :

• A) 2.31
• B) 1.15
• C) .43
• D) .87

Explain the mechanisms through which individuals and groups experience social mobility.

Identify the factors contributing to the creation and maintenance of the upper-upper class.

Understand the relationship between technology, economy, and changes in social stratification.

Grasp the global nature of social inequality and its consequences.

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Definitions:

Entrepreneur's Sole Function

The primary responsibility of an entrepreneur, often seen as identifying opportunities, allocating resources, and driving innovation and economic growth.

Marginal Analysis

An examination of the benefits and costs of one more unit of a product or activity to help make efficient allocation decisions.

Full Employment

This term refers to the condition where all available labor resources are being used in the most economically efficient way, with no involuntary unemployment.

Production Possibilities Curve

A graph that shows the different quantities of two goods that an economy can produce with fixed resources and technology.