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2 years ago

How does scarcity determine the economic value of an item?.

1 answer:

7 0

Scarcity has an impact on how people value goods and services, as well as how governments and private companies divide resources. The infinite wants of the consumers define the economic value of an item.

<h3>What factors influence the economic value of an item?</h3>

The relationship between supply and demand for a specific product determines relative scarcity.

The scarcity principle is an economic theory that explains the dynamic supply-and-demand price relationship.

The scarcity principle states that if an item has a low supply and a high demand, the price will rise to meet the predicted demand.

Check out the link below to know more about scarcity;

brainly.com/question/27445025

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c. Report $10,000 revenue and expense | Disclose in the notes

Explanation:

Not-for-profit entities must report the fair value of all the goods they receive as donations. in this case, they would have to report the $10,000 worth of food received from a local supermarket. But they are not required to report the value of volunteer work, they only have to disclose it on the footnotes of their financial statements.

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3 years ago

In order to satisfy the needs and wants that people have, businesses must combine factors of production. The factors of

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Answer:

by utilizing the goods by their proper uses

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2 years ago

An investment bank agrees to underwrite an issue of 15 million shares of stock for Looney Landscaping Corp.

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Answer:

A) Looney Landscaping will receive $187,500,000 (= $12.50 x 15,000,000 shares)

The bank's profit will be $11,250,000 (= ($13.25 - $12.50) x 15,000,000 shares)

B) Looney Landscaping will receive $166,260,000 (= ($12.50 - $0.275) x 13,600,000 shares)

The bank's profit will be $3,740,000 (= $0.275 x 13,600,000 shares)

If the stocks are sold at $11.95 per share, then Looney Landscaping will receive $158,780,000 (= ($11.95 - $0.275) x 13,600,000 shares)

The bank's profit will be the same, $3,740,000

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3 years ago

State the following statement is True or False, and explain why. Thor who lives in Montana purchased a car produced in Japan for

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Answer:

false

His purchase left GDP unchanged

Consumption of non durables would increase.

Also, net export would decrease.

these effects would cancel out

Explanation:

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export

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3 years ago

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3 years ago