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maksim [4K]
2 years ago
9

Explain way economic deals with allocation and efficient utilization of scarce resources only?

Business
1 answer:
solniwko [45]2 years ago
3 0

Economics deals with the allocation and efficient utilization of scarce resources as human wants are unlimited and resources to satisfy those needs are limited in nature. Hence, to utilize the resources in the optimum possible way and meet the demands of humans, the economy allocates scarce resources.

<h3>How Microeconomics allocates scarce resources?</h3>

Microeconomics analyses how scarce resources are allotted efficaciously to the production of products and services. It facilitates in resolving the critical financial issues of the economic system at an individual level.

Thus, in this manner, Economics deals with the allocation and efficient utilization of scarce resources as human wants are unlimited and resources to satisfy those needs are limited in nature.

learn more about allocation of scarce resources:

brainly.com/question/6107102

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a driver who lends his or her vehicle to a member of the u.s. forces is required to provide the borrower with the registration c
alexira [117]

This is true. A  driver who lends his or her vehicle to a member of the u.s. forces is required to provide the borrower with the registration certificate.

<h3>What is a car registration certificate?</h3>

This is used to refer to the required papers that have to do with the proof of the registration details of a vehicle.

It carries the name and the address of the diver as well as the information that concerns the particulars of the owner of the vehicle.

Hence we can say that This is true. A  driver who lends his or her vehicle to a member of the US forces is required to provide the borrower with the registration certificate.

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8 0
2 years ago
What are two ways that a small business typically uses it’s profits?
ArbitrLikvidat [17]

Answer:

Profit arises when total sales exceed total cost for a period. Once a profit has been made, the owners of the business have a choice: Take the profit out of the business (e.g. pay a dividend to shareholders) Retain the profit in the business – either in cash or by investing the profit into new assets.

5 0
2 years ago
Wilson Products uses standard costing. It allocates manufacturing overhead (both variable and fixed) to products on the basis of
mrs_skeptik [129]

Answer:

Please see attached solution

Explanation:

a. Total manufacturing overhead costs allocated $356,400

b. Variable manufacturing overhead spending variance $40,500U

c. Fixed manufacturing overhead spending variance $17,600U

d. Variable manufacturing overhead efficiency variance $19,500F

e. Production volume variance $39,200F

Please find attached detailed solution to the above questions

5 0
4 years ago
Mr. and Mrs. Jones had an extensive flood in their basement. They incurred casualty losses of $20,000. Their insurance company r
andreev551 [17]

Answer:

<u>True</u>

Explanation:

According to the IRS tax guidelines in such a case the unreimbursed amount is deductible as an itemized deduction from tax returns.

What this implies for Mr. and Mrs. Jones is that the $12,000 unreimbursed amount would be deducted from their tax return. <u>Thus, reducing the amount of taxes to be paid by them.</u>

4 0
3 years ago
In finance what is the time horizon
Genrish500 [490]
A time horizon<span> is the length of </span>time<span> over which an investment is made or held before it is ended. </span>Time horizons<span> can range from seconds, in the case of a day trader, all the way up to decades for a buy-and-hold investor or an individual who is investing in a retirement plan.</span>
6 0
4 years ago
Read 2 more answers
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