The Exchange Theory of Value proposes that the value of a good is based on what people are willing to give up in order to get it. was developed by David Ricardo. replaced the Labor Theory of Value previously accepted by economists. fails to resolve the question of the intrinsic value of goods. is rejected in favor of the Labor Theory of Value by Marxists. is one of the fundamental concepts in economics. is consistent with the Labor Theory of Value. does not answer the question whether some goods are more valuable because of what they are, rather than simply what people are willing to give up for them.

Thomas kratzer is the purchasing manager for the headquarters of a large insurance company chain with a central inventory operation. thomas's fastest-moving inventory item has a demand of 6,000 units per year. the cost of each unit is $100, and the inventory carrying cost is $10 per unit per year. the average ordering cost is $30 per order. it takes about 5 days for an order to arrive, and the demand for 1 week is 120 units. (this is a corporate operation, and the are 250 working days per year.)a) what is the eoq? b) what is the average inventory if the eoq is used? c) what is the optimal number of orders per year? d) what is the optimal number of days in between any two orders? e) what is the annual cost of ordering and holding inventory? f) what is the total annual inventory cost, including cost of the 6,000 units?

Fabian got into an accident on his way to work. he had multiple fractures in his leg. his doctor advised strict bed rest for at least three months. fabian is a freelance wildlife photographer who usually works on a contract basis, and this is his primary source of income. before the accident, fabian was planning his finances. which goal of his financial plan would fabian in getting through without pay for the next three months? the goal that requires the creation of a/an would fabian get through the next three months without pay.

Gary lives in an area that receives high rainfall and thunderstorms throughout the year. which device would be useful to him to maintain his computer?