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Ket [755]
2 years ago
8

Explain the link between scarcity and each of the followin​

Business
1 answer:
Leto [7]2 years ago
8 0

The link between the Scarcity and choice is the study of how individuals and society choose to allocate scarce resources.

<h3>What is the Meaning of Scarcity?</h3>

Scarcity refers to the insufficient or the shortage of the resources with the individual or in the particular nation. For Example In any Industry there is the shortage of the skilled workers.

The complete question is attached below.

The link between the Scarcity and the Opportunity Cost is that it has the direct implication on the scarcity. In decision making process, one must has to sacrifice the opportunity cost of that action.

The link between the Scarcity and competition is due to the Lack of resources which forces people to compete for the limited resources that are accessible because there aren't enough to satisfy everyone's wants.

Additionally, people would compete for the rationing tool, such as money, whatever it may be.

Learn more about Scarcity here:

brainly.com/question/13186252

#SPJ1

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At Westco Company, a mission statement is presented to all new employees promoting the philosophy that all departments depend on
sineoko [7]

Answer:

The answer is: interdependence systems approach

Explanation:

refers to the idea that an organization as a whole is the result of the combination of smaller combined systems that exist within it. These smaller systems are autonomous form each other but they also depend on the performance of other systems that exist inside the organization. If one system fails, the whole organization will fail.

7 0
3 years ago
All of the following would be considered examples of employer postretirement benefits EXCEPT
melisa1 [442]
A. Social Security

All of the following would be considered examples of employer post retirement benefits except Social Security
4 0
2 years ago
The accounts listed below appeared in the December 31 trial balance of the Savard Theater.
ioda

Answer:

Adjusting journal entries

a) 1 . Debit Depreciation $10500 Credit Accumulated depreciation $10500.

2 . Debit interest expense  $40 , Credit Bank $40

3 . Debit Admission revenue $ 60000, Credit Unearned admission revenue $60000

4. Debit Prepaid expense $1100 , Credit Advertising expense $1100

5. Debit salary $4700, Credit Salary payable ( accrued salary) $4700

Explanation:

Depreciation = (cost - salvage value)/ useful life

it is said that the equipment has a useful life of 16 years at that date (31 Dec) and depreciation needs to be adjusted for the year. Even even that $192000 is Carrying amount it is not depreciable amount we still need to subtract the salvage value hence (192000- 24000)/16 = $10500 Depreciation

interest expense = 90000*8%*72/360 = $1440

The 72 days numerator is arrived at by adding the remaining 11 days in Oct plus full 30 days Nov plus full 31 days Dec. $1400 of interest has already been recorded so in adjusting to the total of $1440 we need to record $40 of interest.

december coupon = 2000*$30 =$60000

if the coupon admission book revenue for december is not included in the trial balance then its journal entry is debit bank $60000 credit unearned revenue $60000

3 0
3 years ago
The December 31, 2021, adjusted trial balance for the Blueboy Cheese Corporation is presented below. Account Title Debits Credit
Umnica [9.8K]

Answer:

<u>Blueboy Cheese Corporation </u>

<u>Income Statement</u>

<u>December 31, 2021</u>

<u>Account Title                                  Debits                      Credits </u>

Sales revenue                                                                     680,000

Less Cost of goods sold               408,000

Gross Profit                                                                          272,000

less

Salaries expense                       108,800

Rent expense                           18,000

Depreciation expense             53,000

Interest expense                        3,900

Advertising expense                  3,600

<u>Un adjusted Profit                                                              84,700</u>

<u> </u><u>Adjusted Profit                                                                  82,900     </u>                            

<u>Blueboy Cheese Corporation </u>

<u>Balance  Sheet</u>

<u>December 31, 2021</u>

<u>Account Title                                  Debits                      Credits </u>

Cash                                               51,900

Accounts receivable                    290,000                                

Inventory                                      43,000

Office equipment                         308,000

                                       

Accounts payable                                                             56,000

Notes payable (due in six months)                                    39,000

Common stock                                                                    400,000

Retained earnings                115,000 + 82,900=              197,900

<u>                                                                                                               </u>

<u>Total                                            $ 692,900                         692,900</u>

<u />

Closing Entries

Dec 31            Sales Revenue             $680,000 Dr

                             Income Summary                    $680,000 Cr

The first closing entry transfers credit balances in revenue ( and gain ) accounts to the income summary accounts.

Dec 31          Income Summary          $ 187,300 Dr

                               Salaries expense                       108,800 Cr

                                Rent expense                           18,000 Cr

                                 Depreciation expense             53,000 Cr

                                     Interest expense                        3,900 Cr

                                       Advertising expense                  3,600 Cr

The second closing entry transfers debit balances in expense ( and loss) to the income summary accounts.

Dec 31                    Income Summary            $ 82,900

                                    Retained Earnings Accounts            $ 82,900

The third entry transfers the balance of income summary account to the owner's capital account or retained earnings account.

5 0
3 years ago
Which of the following things does the Affordable Care Act do? A. Regulates the amount of co-pays B. Provides insurance for peop
kipiarov [429]
Hi.

I believe this is:

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3 0
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