1. what type of economic system exists when individuals answer the three basic economic questions?
a. mixed
b. market
c. command
d. traditional

2. what term defines the income paid to the owner of land, labor, or capital in return for productive service?
a. cost
b. price
c. factor payment
d. economic system

3. if a society answers the three basic economic questions by relying on ritual, ancestral laws, and religious dictates, what type of economic system is it using?
a. mixed
b. market
c. command
d. traditional

Druganaut company buys a $21,000 van on credit. the transaction will affect the

Nichols inc. manufactures remote controls. currently the company uses a plantminuswide rate for allocating manufacturing overhead. the plant manager is considering switchingminusover to abc costing system and has asked the accounting department to identify the primary production activities and their cost drivers which are as follows: activities cost driver allocation rate material handling number of parts $5 per part assembly labor hours $20 per hour inspection time at inspection station $10 per minute the current traditional cost method allocates overhead based on direct manufacturing labor hours using a rate of $20 per labor hour. what are the indirect manufacturing costs per remote control assuming an method is used and a batch of 10 remote controls are produced? the batch requires 100 parts, 5 direct manufacturing labor hours, and 3 minutes of inspection time.

The textbook defines ethics as “the principles of conduct governing an individual or a group,” and specifically as the standards one uses to decide what their conduct should be. to what extent do you believe that what happened at bp (british petrolium) is as much a breakdown in the company’s ethical systems as it is in its safety systems, and how would you defend your conclusion?