Answer:
Economics is the scientific study of the ownership, use, and exchange of scarce resources – often shortened to the science of scarcity. Economics is regarded as a social science because it uses scientific methods to build theories that can help explain the behaviour of individuals, groups and organisations.
Answer:
An organizational structure is a system that outlines how certain activities are directed in order to achieve the goals of an organization. These activities can include rules, roles, and responsibilities. The organizational structure also determines how information flows between levels within the company.
Answer:
b.the portion of whole units that are completed with respect to materials or conversion costs.
Explanation:
In process costing the inventory in the work in process is valued using the equivalent numbers of units completed. The completed units are transferred to the finished goods Inventory. Equivalent numbers of unit are percentage completed those unit which are in process and needs to further processing to complete. It involves the cost of material and conversion as well. It also includes the unit completed during the period to value the inventory.
Answer:
a.Increase Net Income
Explanation:
Unearned Revenue
The Accrual Principle requires Incomes and expenses to be recorded in the period they occur or incur.
Revenue not earned has not yet occurred and can not be recognized hence no effect on revenues reported for the period.
Fees earned
Fees earned represents increases in economic benefits from non primary activities of the company.
This has the overall effect of increasing Net income in the reporting period
Option C. If the cross-price elasticity of two goods is negative, then the two goods are <u>complements.</u>
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What is Cross-Price Elasticity?
- Cross-price elasticity measures how sensitive the demand of a product is over a shift of a corresponding product price.
- Often, in the market, some goods can relate to one another.
- This may mean a product’s price increase or decrease can positively or negatively affect the other product’s demand.
- A price increase of a complementary product will lead to lower demand or negative cross-price elasticity, and a price increase in a substitute product will lead to increased demand or a positive cross-price elasticity.
- Unrelated products have zero cross-price elasticity.
- For substitute products, an increase in the price of a substitute product increases the demand for the competing product.
- This is often because consumers always try to maximize utility.
- The less they spend on something, the higher the perceived satisfaction.
To know more about cross- price elasticity , refer:
brainly.com/question/15308590
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