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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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I believe your answer would be C. Speech and Debate. Being a lawyer requires lots of debate, and speech to support your answer and make it more clear. 
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How are revenues and expenses reported on the income statement under (a) the cash basis of accounting and (b) the accrual basis
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Answer:

(a) <u>Under Cash Basis of accounting</u>

Revenues and expenses are recorded either when payment is made or payment is received. It relates to accounting receipts and payments. The drawback of this approach being, it ignores accounting period as it places relevance on actual receipts and payments.

(b) <u>Under Accrual Basis of Accounting</u>

Under accrual basis, a transaction is recorded when income is earned and when expenditure is incurred and not when actual cash for the same has been received and paid for.

Accrual system of accounting is more prudent form of accounting and ensures transactions relating to a period are recorded and accounted for in that particular period.

4 0
3 years ago
The common denominator for decisions on service processes is _______, but for manufacturing processes it is _______
igomit [66]

The common denominator for decisions on service processes is customer contact while but for manufacturing processes, it is product variety.

<h3>What is a common denominator?</h3>

This refers to the feature that is shared by all members, item, quantity of a subject matter.

Hence, the common denominator for decisions on service processes is customer contact while but for manufacturing processes, it is product variety.

Read more about common denominator

<em>brainly.com/question/542317</em>

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5 0
2 years ago
When the incentives to join an organization emphasize a sense of pleasure, status, or companionship, the incentives are said to
tiny-mole [99]
The answer to your question is;

<em>Emotional Incentives.</em>

I hope this helps!
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