The rationing function of prices refers to the a. tendency of supply and demand to shift in opposite directions. b. fact that ration coupons are needed to alleviate wartime shortages of goods. c. capacity of a competitive market to equalize quantity demanded and quantity supplied. d. ability of the market system to generate an equitable distribution of income.

Resources that are valuable but not rare can be categorized asanswers: organizational weaknesses. distinctive competencies. organizational strengths. complementary resources and capabilities.

Emil motycka is considered an entrepreneur because

Waterway company’s record of transactions for the month of april was as follows. purchases sales april 1 (balance on hand) 672 @ $6.00 april 3 560 @ $11.00 4 1,680 @ 6.08 9 1,568 @ 11.00 8 896 @ 6.41 11 672 @ 12.00 13 1,344 @ 6.51 23 1,344 @ 12.00 21 784 @ 6.61 27 1,008 @ 13.00 29 560 @ 6.79 5,152 5,936 (a) calculate average-cost per unit. (b) assuming that periodic inventory records are kept in units only, compute the inventory at april 30 using lifo and average-cost. (c) assuming that perpetual inventory records are kept in dollars, determine the inventory using (1) fifo and (2) lifo. (d) compute cost of goods sold assuming periodic inventory procedures and inventory priced at fifo.