Designs by Candice is a graphic design studio specializing in logos and business stationery. Candice has just made a $69,300 investment in her company and desires a 11% return. Annually, she designs and prints 3,000 orders. Her costs include

Designs by Candice

Her costs include:

Costs of materials, labor, overheads.  

Then in charging her customers she would include the profit target of $7,623 (representing 11% of her capital investment).

Explanation:

As a graphic design studio, Design by Candice would buy stationery and design materials, including 3D printers and other software.  Candice would also incur labor costs on those doing the design proper.  There are also manufacturing overheads, including rent, utilities, etc. and not to forget other indirect costs like selling and marketing and administrative expenses.

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

answer; lags, push the econ below the natural level of output;