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Which concept does Adam smithbuse to describe an item sold for exactly the amount of money it cost to produce it?
Adam Smith refers to the concept of "natural price" to describe an item sold for exactly the amount of money it cost to produce it. The natural price includes the costs of labor, materials, and other expenses, reflecting the true cost of production. When goods are sold at their natural price, it indicates a balance between supply and demand in a competitive market.
What else can I help you with?
Which type of printer is commonly used in stores to produce cash register receipts?
A thermal printer is commonly used in stores to produce cash register receipts.
If the firm produces 5 units that it sells at a price of 30 each what will its profits or losses equal?
You are not providing enough information for an answer. We know what they are selling for, but you did not say how much they cost to produce. Profit is how much more they sell for that what they cost to produce. If each cost 25 to produce, and sold for 30, then the profit of each sale is 5, or 25 if you sell 5 of them. If each cost 35 to produce, and sells for 30, you lose 5 on each sale.
What is a smoothing plane used for?
its used 2 produce the wood with a smooth finish
What are the main benefit that businesses got from the typewriter?
It made it quicker to produce letters.
When prices are increasing which inventory method will produce the highest cost of goods sold?
Lifo (Last in first out) method will produce highest cost of goods sold because inventory with higher value will be charged first as it arrived in last.
What does Adam Smith use to describe an item sold for exactly the amount of money it cost to produce it?
Natural price is the term Adam Smith used to describe an item sold for exactly the amount of money it cost to produce it.
The concept of The amount of a good that must be given up to produce another good is the concept of?
trade
Motown borrowed a production concept in oder to mass produce hit record s what was that concept?
The assembly-line concept used in the automobile industry
What is the concept of produce exchange?
A produce exchange is an organized market that allows people to sell and buy produce through a broker or in person. It is an exchange where produce is sold ad bought.
Do female giant pandas produce milk?
yes, is feaml gaint woman produce milK when they are pregnant? same concept!"
How do monkeys produce solid and liquid wastes?
Exactly the same way we do
Can you have descriptive words to describe country?
it is a type of country that produce health
What is the term used to describe trees that produce their seed in cones?
gymnosperms
What means to produce a large number of goods that are exactly alike?
Mass Production
Which species concept would be most useful to a team of biologists conducting a biodiversity survey?
The most useful species concept for a team of biologists conducting a biodiversity survey would be the Biological Species Concept, which defines a species as a group of organisms that can interbreed and produce fertile offspring. This concept is practical for field biologists as it allows them to identify and categorize species based on their ability to produce viable offspring in their natural environment.
When will concept cars be made?
Manufacturers produce concept cars whenever they have new and fairly radical ideas and innovations for their products. They are a 'one of' to try out the ideas and are not for sale.
What is concept mapping?
A concept map is a diagram showing the relationships among concepts. See a short article in wikipedia. Concept mapping is a process to produce a concept map to describe knowledge about a topic (e.g., how wrting was invented?), describe learning from sources on the topic, (creative) thinking about a topic, and many more applications. See link for a free CmapTools application.
