Consider the TOYCO production problem with two products toy CARS and toy TRAINS. The toys are sold to a wholesale distributor who demands shipments in packs (boxes). There is no limit on how much we can produce. The toy CARS are delivered in boxes of 20 while the toy TRAINS are delivered in boxes of 25. What is the best product mix in this scenario

Package both CARS and TRAIN toys into a single box.

Explanation:

Remember, if TOYCO delivers these toys separately it will incur more cost on the packaging. Since they are dealing with a wholesale distributor they can pack both products into a single box.

This product mix approach saves TOYCO financially.

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