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2 years ago

Economics is the study of how individuals and societies make choices under the condition of:.

2 answers:

7 0

Economics is the study of how individuals and societies make choices under the condition of scarcity.

<h3>What is economics?</h3>

The study of how individuals use resources and respond to incentives by using it in decision-making is known as Economics. It is a vast study that helps us comprehend past trends, analyze current headlines, and forecast future events.

It signifies that the price of the product or service exceeds the supply of that product or service. As a result, scarcity might limit the options available to customers, who make up the economy in the end.

Individuals, organizations, and governments all use economics to understand their behaviors and decisions. It gives people a way to comprehend how people interact in a market-driven society and to analyze how government policies affect them.

Learn more about Economics, here:

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GenaCL600 [577]2 years ago

7 0

Answer:

ig Scarcity

Explanation:

Hope it Helps!!!

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On January 1, 2016, Lester Company purchased 70% of Stork Corporation's $5 par common stock for $600,000. The book value of Stor

Soloha48 [4]

Answer:D. $0

Explanation:

Goodwill is the excess of the purchasing price of a company value of indentifiable net assets.. The purchasing price in this example is less than the value of the.

3 0

3 years ago

Marin Industries had one patent recorded on its books as of January 1, 2020. This patent had a book value of $201,600 and a rema

konstantin123 [22]

Answer:

The patent should be reported at $302,400 on the December 31, 2020, balance sheet.

Explanation:

Remaining useful life in month of patent on January 1, 2020 = 8 * 12 = 96 months

Remaining useful life in month of patent on December 1, 2020 = 96 - 11 = 85 months

Amortization of book value of patent in 2020 = (Patent Book value / Remaining useful life in month of patent on January 1, 2020) * 12 = ($201,600 / 96) * 12 = $25,200

Amortization of legal cost in 2020 = (Legal cost / Remaining useful life in month of patent on December 1,, 2020) * 1 = ($127,500 / 85) * 1 = $1,500

Carrying amount of patent = Patent Book value + Legal cost = $201,600 + $127,500 = $329,100

Patent book value on December 31, 2020 = Carrying amount of patent - Amortization of book value of patent in 2020 - Amortization of legal cost in 2020 = $329,100 - $25,200 - $1,500 = $302,400

Therefore, the patent should be reported at $302,400 on the December 31, 2020, balance sheet.

8 0

3 years ago

Jamal was recently hired as a sales representative for a pharmaceutical company. He notices that all the other sales reps "pad"

il63 [147K]

Answer: Conformity

Explanation: Ethics trap refers to the situation in which an individual finds difficult to assess what is morally correct for him or her and what is not.

Conformity refers to the ability of an individual to match the customs and beliefs of a group to mingle with that particular group.

In the given case, Jamal has been working in the company where all the members have been cheating on their accounts except for him. This urges Jamal to do the same for being a part of group.

Hence we can conclude that the correct option is C.

7 0

3 years ago

Suppose a small economy produces only two goods: books and shirts. The opportunity cost of 1 book is constant at 3 shirts. For e

Anastaziya [24]

Answer:

Books Shirts

4 0

3 3

2 6

1 9

0 12

Explanation: At combination E, the economy is producing 0 books and 12 shirts. Since the opportunity cost of 1 book is 3 shirts, moving from point E to point D (gaining 1 book) requires this economy to produce 3 fewer shirts. Thus, the number of shirts in combination D must be 12 shirts−3 shirts=9 shirts. The rest of the combinations can be calculated in a similar fashion, with the answers summarized in the following table.

A 4 3−3=0

B 3 6−3=3

C 2 9−3=6

D 1 12−3=9

E 0 12

8 0

2 years ago

Old Camp Company manufactures awnings for its own line of tents. The company is currently operating at capacity and has received

Helen [10]

Answer:

It is more convenient to continue the production in house.

Explanation:

Giving the following information:

The company is currently operating at capacity and has received an offer from one of its suppliers to make the 12,000 awnings it needs for $25 each. Old Camp’s costs to make the awning are $12 in direct materials and $7 in direct labor. Variable manufacturing overhead is 70 percent of direct labor. If Old Camp accepts the offer, $42,000 of fixed manufacturing overhead currently being charged to the awnings will have to be absorbed by other product lines.

Make in house:

Variable costs= 12 + 7 + (7*0.70)= $23.9

Total variable costs= 23.9*12000= 286,800

Buy= 25*12,000= $300,000

It is more convenient to continue the production in house.

3 0

3 years ago