Question 1
Saved
Match the definitions to their correct term.

Question 1 options:

Determined by how much of a good or service is produced relative to how badly buyers want it

Supply is lower than Demand. Prices Rise.

Demand always exceeds supply. Want more than we have.

The lower the price of a good or service, the greater the quantity consumers will buy.

The amount of a good that producers are willing to sell at a given price.

Higher the price of a good or service, the greater the quantity that producers will try to sell.

Quantities of a good or service that potential buyers are willing and able to purchase

Supply is higher than demand. Prices Drop

The price at which quantity supplied = quantity demanded

1.
Price

2.
Demand

3.
Supply

4.
Law of Supply

5.
Equilibrium Price

6.
Law of Demand

7.
Scarcity

8.
Surplus

9.
Shortage

Ail industries uses activity-based costing to assist management in setting prices for the company's three major product lines. the following information is available: activity cost pool estimated overhead expected use of cost driver per activity cutting $1,000,000 25,000 labor hours stitching 8,000,000 320,000 machine hours inspections 2,800,000 160,000 labor hours packing 960,000 64,000 finished goods units compute the activity-based overhead rates. (round answers to 2 decimal places, e.g. 12.25.)

On july 1, 2016, killearn company acquired 103,000 of the outstanding shares of shaun company for $21 per share. this acquisition gave killearn a 40 percent ownership of shaun and allowed killearn to significantly influence the investee's decisions. as of july 1, 2016, the investee had assets with a book value of $6 million and liabilities of $1,468,500. at the time, shaun held equipment appraised at $140,000 above book value; it was considered to have a seven-year remaining life with no salvage value. shaun also held a copyright with a five-year remaining life on its books that was undervalued by $562,500. any remaining excess cost was attributable to goodwill. depreciation and amortization are computed using the straight-line method. killearn applies the equity method for its investment in shaun. shaun's policy is to declare and pay a $1 per share cash dividend every april 1 and october 1. shaun's income, earned evenly throughout each year, was $580,000 in 2016, $606,600 in 2017, and $649,200 in 2018. in addition, killearn sold inventory costing $93,000 to shaun for $155,000 during 2017. shaun resold $97,500 of this inventory during 2017 and the remaining $57,500 during 2018.a. determine the equity income to be recognized by killearn during each of these years. 2016 2017 2018b. compute killearn’s investment in shaun company’s balance as of december 31, 2018.

Which term refers to the cost that motivates an economic decision