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pashok25 [27]
2 years ago
5

The economic principle of ______ says that when there are two houses in the same neighborhood with the same size, appeal, and ut

ility, the lower-priced one will tend to sell first.
Business
1 answer:
Rina8888 [55]2 years ago
4 0

The economic principle of substitution says that when there are two houses in the same neighborhood with the same size, appeal, and utility, the lower-priced one will tend to sell first.

<h3>The economic principle of substitution</h3>
  • According to the principle of substitution, the cost of purchasing a substitute that is just as desired tends to establish the upper limit of value, assuming no inopportune delays.
  • A shrewd investor would not spend more on an asset that generates income than it would cost to construct or buy an asset of a similar nature.
  • According to this theory, the cost of acquiring a comparable substitute property with the same use, design, and revenue determine the maximum value of a property in most cases.
  • For instance, why would somebody pay $1,000,000 for a home when they could pay $750,000 for a different but as appealing home in the same neighborhood?

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lee reed, marisa a. pagnattaro, et al., the legal and regulatory environment of business (18th or 19th edition mcgraw-hill irwin
timurjin [86]

19th Edition of The Legal and Regulatory Environment of Business

By Julie Manning Magid, Daniel Cahoy, Peter Shedd, and Marisa Pagnattaro ISBN10: 1260734285 ISBN13: 9781260734287

An extremely dependable, simple-to-use online homework and learning management solution that incorporates cutting-edge adaptive tools and learning science to enhance student performance.

The Legal and Regulatory Environment of Business, 19th Edition, by Marisa Pagnattaro, Daniel Cahoy, Julie Manning Magid, and Peter Shedd is available for free download as an eBook, PDF, EPUB, and other digital formats. Detailed and scientifically thorough writing that is acceptable for use as a university reference. It's a requirement that both lecturers and students read this book. Book publishers have already worked for businesses. obtainable as a hardcover, paperback, and e-book. You have the option of paying for or using free digital formats.The English-language book, published on February 1st, 2021, was written by four scientists. This book has been translated into a number of different languages for distinct nations.

The totality of all external and internal influences on a business can be referred to as the business environment. It's important to remember that a firm can be impacted by both internal and external influences acting in concert. An external component that affects the internal environment of corporate activities, for instance, is a health and safety legislation. Additionally, you have no influence over some outside variables. These elements are sometimes referred to as external constraints. Let's examine some important environmental aspects.

To learn More about business environment from the given link.

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6 0
2 years ago
Sam​ Snead, the owner of​ Snead's Fine Golf​ Wear, used $1800 of his personal funds to go on vacation. Which of the following is
AveGali [126]

Answer:

D. Do not record the transaction in the general journal

Explanation:

There is no need to record the transaction in the general journal since the money that was actually spend by Sam Snead happens to be his own personal <em>fund rather than the company's fund (That is, the Golf Wear company). Funds belonging to the company are those that deserve to be recorded in the general journal.</em>

4 0
3 years ago
E21A­1. (Lessee Entries; Finance Lease with No Residual Value) (LO 1, 4) DU Journeys enters into an agreement with Traveler Inc.
Nadusha1986 [10]

Answer:

<u>(a) Prepare DU Journeys' journal entries for 2016, 2017, and 2018.</u>

Date            Account Title and Explanation    Debit($)     Credit($)

31/12/2016  Right of Use asset                          15,000

                   Lease Liability                                                    15,000

(to record lease of asset)

31/12/2017  Interest Expense                             1,200

                  Lease Liability                                 4,352.82

                  Cash                                                                    5,552.82

(to record interest expense and lease payment)

31/12/2017  Amortization Expense                     5,000

                  Right of use Asset                                               5,000

(to record amortization expense for right of use asset)

31/12/2018 Interest Expense                               851.77

                 Lease Liability                                   4,978.69

                 Cash                                                                      5,830.46

(to record interest expense and lease payment)

31/12/2018 Amortization Expense                      5,000

                 Right of use Asset                                                 5,000

(to record amortization expense for right of use asset)

Date: 31/12/2016

Annual Payment: -

Interest Expense: -

Reduction of Lease Liability: -

Lease Liability: $15,000

Depreciation Expense: -

Date: 31/12/2017

Annual Payment: $5,552.82

Interest Expense: $1,200

Reduction of Lease Liability: 4352.82

Lease Liability: 10647.18

Depreciation Expense: $5,000

Date: 31/12/2018

Annual Payment: $5,830.46

Interest Expense: 851.7744

Reduction of Lease Liability: 4978.6856

Lease Liability: -44331.5056

Depreciation Expense: $5,000

Date: 31/12/2019

Annual Payment: $6,121.98

Interest Expense: -3546.520448

Reduction of Lease Liability: - 44331.5056

Lease Liability: 0

Depreciation Expense: $5,000

(b) Consumer Price index means: book the same amount year to year for payment. The increase in CPI may be booked as an expense when incurred.

5 0
3 years ago
A firm in a perfectly competitive market: a.must reduce its price if it wants to sell a larger quantity. b.must be large relativ
mr Goodwill [35]

A firm in a perfectly competitive market: d. must take the price that is determined in the market.

<h3>What is a perfectly competitive market?</h3>

A perfectly competitive market can be defined as a type of market in which there are many buyers and sellers of homogeneous products, and there is free entry and exit in the market.

This ultimately implies that, all business firms in a perfectly competitive market must be willing to take the price that is determined in the market.

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4 0
2 years ago
The Nordstrom department store chain emphasizes the great lengths to which it goes in customer service. In fact, when it moves i
rosijanka [135]

Answer:

21

Explanation:

4 0
3 years ago
Read 2 more answers
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