Cortez company sells chairs that are used at computer stations. its beginning inventory of chairs was 190 units at $43 per unit. during the year, cortez made two batch purchases of this chair. the first was a 275-unit purchase at $48 per unit; the second was a 390-unit purchase at $50 per unit. during the period, it sold 505 chairs. required determine the amount of product costs that would be allocated to cost of goods sold and ending inventory, assuming that cortez uses

Amarket is said to be equilibrium when quantity demanded is equal to quantity supplied. critically analyse the above statement by giving different types of market

Ben collins plans to buy a house for $166,000. if the real estate in his area is expected to increase in value by 2 percent each year, what will its approximate value be five years from now?

Self-interest achieve society’s economic goals because producers know which goods consumers want the most. as consumers and producers exercise their freedom to act in their own self-interest, markets will produce the desired goods at the lowest possible cost. consumers and producers both operate based on society’s economic goals. consumers know which goods can be produced at the lowest cost. there is a wide variety of desired goods and services in a market system because producers determine what to produce. consumers change their minds frequently. there is always a need to produce something new and improved. individual wants are diverse. what is produced is ultimately determined by consumers, because if the goods offered are not what consumers want, consumers will not buy them. producers, because they are driven by profits. producers, because they determine what to produce. consumers, because they participate in marketing surveys.