simply as the style or styles of clothing and accessories worn at any given time by groups of people. There may appear to be differences between the expensive designer fashions shown on the runways of Paris or New York and the mass-produced sportswear and street styles sold in malls and markets around the world. However‚ the fashion industry encompasses the design‚ manufacturing‚ distribution‚ marketing‚ retailing‚ advertising‚ and promotion of all types of apparel (men’s‚ women’s‚ and children’s) from
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property and business workers‚ Capitalists produced all of the country’s resources by employing Union Workers. While Capitalists only made up a small percent of the country‚ Union Workers were more of the majority. Currently‚ at the end of the first year‚ the Union Workers run the Government. I being a Union Worker in Secrets of the Oasis found employment in a local farm producing food units. The food unit company produced either Organic food or regular food‚ and sold it at the market events to the citizens
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Chapter 3 Systems Design: Job-Order Costing Types of Costing Systems Used to Determine Product Costs Process Costing Chapter 4 Chapter 4 Job-order Costing Many different products are produced each period. Many different products are produced each period. Products are manufactured to order. Products are manufactured to order. Cost are traced or allocated to jobs. Cost are traced or allocated to jobs. Cost records must be maintained for each distinct Cost records must be maintained for
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• Micro vs. Macro • Microeconomics – the study of how individual households and firms make decisions and how they interact with one another in markets. • Macroeconomics – the study of the economy as a whole. – Its goal is to explain the economic changes that affect many households‚ firms‚ and markets at once. • The Two Groups of Economists • Macroeconomists • Focus on the economy as a whole. • Spend much time analyzing how total income changes and how changes in income cause changes in
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machines made and sold by GMD. The new plastic rings‚ which had only been introduced in April‚ not only appeared to have a much longer life than the steel rings‚ but also apparently were much less expensive to manufacture. Mr. Kurtz’ problem in responding to the new ring was complicated by the fact that he had 25‚000 steel rings in inventory and 26 tons of special alloy steel purchased recently for the sole purpose of making more rings. He knew that this raw steel could not even be sold as scrap because
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How can Socialism solve economic problems ? What to produce ? In socialism‚ planning authorities decided what to produced. The Central Planning Authority or the government will collect detailed statistics on the resource availability in the country and link it with national priorities. If the planning authorities or government feels that the nation needs more computer for current and future consumption‚ more resources will be allocated for the production of computers over other products. Furthermore
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National Product (GNP) is the total value of final goods and services produced in a year by domestically owned factors of production. Final goods are goods that are ultimately consumed rather than used in the production of another good. For example‚ a car sold to a consumer is a final good; the components such as tires sold to the car manufacturer are not; they are intermediate goods used to make the final good. The same tires‚ if sold to a consumer‚ would be a final good. Only final goods are included
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Variable costs per unit $80 Total fixed costs $80‚000 Tax rate 40% _____ must be sold to earn an after-tax net income of $40‚800. B. 2‚313 units Assume the following cost information for Janice Company: Selling price
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the idea. Neither were Mattel’s directors. It wasn’t until 1956‚ when Ruth took a trip to Europe with her children‚ Barbara & Kenneth‚ that she came across a German toy doll called Bild Lilli. According to Wikipedia‚ the “Bild Lilli Doll was produced from 1950 to 1964‚ based on the comic-strip character Lilli.” This doll was exactly what Ruth had in mind‚ so she actually purchased 3 of them. She gave one to her daughter and took the others back to Mattel. When Ruth returned to the USA‚ she
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1. Why was Haier so successful in China? Since 20 years ago‚ 1984‚ Haier was founded and quickly became the largest white goods factory from a little and nearly bankruptcy company. Without a doubt‚ Haier is very successful in china. As we look through Haier’s history‚ they have many factors make their success: 1) Good Reputation of high quality: After Haier was setting up‚ it began to develop a reputation for its refrigerators. It build up the best quality system and get the highest reputation
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