Q1: explicit costs and implicit costs concepts Explicit Cost Explicit cost is defined as the direct payment which is supposed to be made to others while running business. This includes the wages‚ rents or materials which are due in the contract. The explicit cost is the expense done in business which can easily be identified and accounted for in the business at any stage. The explicit cost represents the out flows of cash in clear and obvious terms. When any out flow of credit occurs in a business
Premium Economics Costs Microeconomics
product costs are the direct materials‚ and manufacturing overhead that are involved in acquiring or making products. Products costs are assigned to an inventory account on the balance sheet and considered to be assets. When the goods are sold‚ the costs are released from inventory and are recognized as expenses in the income statement. Period costs are all the costs that are not included in product cost‚ such as advertising‚ executive salaries‚ and other nonmanufacturing costs. These costs are expenses
Premium Balance sheet Income statement Expense
Medical Science During the Renaissance The Renaissance was a cultural and intellectual movement that began in the 1300’s and spread throughout Europe. This time period revived the significance of art‚ music‚ and architecture. However‚ while advances in those areas were strong‚ the medical science field did not grow at the same rate. Back then‚ it was thought that diseases and illnesses had natural as well as supernatural causes. Many believed that they were punishments from God for sinning. Because
Premium Physician Medicine Black Death
under efficient operating conditions absorption costing all manufacturing costs are assigned to products: direct material‚ direct labour‚ variable and fixed manufacturing overhead acceptable quality level (AQL) the defect rate at which total quality costs are minimised account classification method (or account analysis) the process in which managers use their judgement to classify costs as fixed‚ variable or semivariable costs accounting rate of return (or simple rate of return‚ rate of return on assets
Premium Costs Cost Net present value
(Lynching Charlie Lynch‚ Rick Ray) I believe medical marijuana should be a legally taxed substance in the United States. In a world that has hated marijuana since it was outlawed in 1937‚ the times are finally starting to change. (A NormL Life‚ Rod Pitman) Cannabis is still federally illegal and is considered a schedule 1 drug by the federal government. (A NormL Life‚ Rod Pitman) This means that marijuana has a high potential for dependency and has no accepted medical use. This means it is in the same category
Premium Cannabis Legality of cannabis by country Hashish
other eminent practitioners in the Hellenistic world. With the rise of Islam Muslim scholars wanted to apply medical ideas to theological debates. On a practical and political level‚ because of the new relationship between the new Islamic dynasty and the Hellenistic world Islamic scholars and practitioners had access to libraries contained manuscripts from which they acquired new medical knowledge. There may also have been kudos amongst the social elite and the rulers whose wealth funded the translations
Premium Avicenna
Which country would you rather be ill in and why? Health systems have played a part in the dramatic rise in life expectancy that occurred during the 20th century. They have contributed enormously to better health and influenced the lives and well-being of billions of people around the world. Their role has become increasingly important. The National Health Service was set up in the 1940s‚ post-war Britain‚ based on the principle of universal healthcare free at the point of use‚ financed entirely
Premium Health economics Medicine Health care
fields‚ this could be things such as name‚ date of birth‚ ethnicity‚ medical history etc. this is placed in the system for organisation. LIMS is also known to be an electronic filing cabinet‚ data input done according to the given organisation. It can also store graphical data such as photos‚ CT scans of patients in their medical history; also text an example of this is hospital patients‚ regarding their identity photo and medical history. This image shows an example of patients DNA testing
Free DNA DNA profiling National DNA database
INTRODUCTION: Our natural environment includes all living and non living things like land‚ forests‚ minerals‚ water bodies‚ the atmosphere‚ etc. Some of these resources are renewable and others are non renewable‚ which get depleted and ultimately exhausted with their continuous use. Even the renewable resources may get degraded or polluted. Economic development leads to increase in the rate of national income. Increase in national income would result only from increased production of goods and services
Premium Environmentalism Natural environment Economics
Medical Marijuana Marijuana has been around since ancient Egypt with many uses as a antiseptic‚ paper‚ plastic‚ and even medical but since the probation of marijuana‚ marijuana has been mainly sold on the streets‚ leading up to the war on drugs. In recent years studies have shown some evidence that marijuana may have medical uses but being labeled a Schedule 1 drug by the federal government no study can get the proper funding to keep researching. There are medical benefits to marijuana‚ who knows
Premium Physician Cannabis Medical cannabis