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11 months ago

Microeconomics is the study of: __________

Business

1 answer:

Kitty [74]11 months ago

3 0

Microeconomics is the study of <u>the decisions made by individuals</u>.

Microeconomics is the study of individuals, households and firms behavior in decision making and allocation of resources of production, exchange, and consumption. Microeconomics deals with prices and production in single markets and the interaction between different markets.

In the economy, microeconomics applies to markets of goods and services and deals with individual and economic issues. Microeconomics is important as it provides the required tools that enable the formulation of various economic policies.

Individual income and savings, consumer equilibrium, are examples of microeconomics.

Hence, microeconomics is the study of the decisions made by individuals in the economy.

To learn more about Microeconomics here:

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Pete the Pizza Man produced $87,000 worth of pizzas in the past year. He paid $39,000 to employees, paid $11,000 for vegetables

Ne4ueva [31]

Answer:

$133,000

Explanation:

We can find Pete's total contribution to GDP by adding up the following numbers:

$87,000 worth of pizzas - because finished goods are part of GDP

$39,000 paid to employees - because wages are part of GDP

$5,000 paid in taxes - taxes are part of GDP because they are government revenue

$2,000 of inventories at the end of year - end-of-year inventories are included in GDP

Therefore: $87,000 + $39,000 + $5,000 + $2,000 = $133,000

the $11,000 worth of ingredients are not included in GDP because GDP only accounts for finished goods and services.

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2 years ago

In the economy of Panicia, the monetary base is $1,000. People hold a third of their money in the form of currency (and thus two

Angelina_Jolie [31]

Answer:

(a) rr: 1/3, cr: 0.5, m:1.8 M: 1800

(b) 1500

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2 years ago

As a manager seeks to develop her leadership skills, she should be aware that:

avanturin [10]

Answer:

b. Many different styles of leadership can be effective.

Explanation:

Leadership is the ability of a person to motivate others to deliver on set goals and objectives.

Depending.on the organisation, the goals to be achieved, needs of the followers, and the personality of the leader.

There are different leadership styles that are all effective depending on the situation

Authoritative leaders states the way things should be done with little input from the team.

Democratic leadership is when the leader gets feedback from the team and uses it to make decisions.

Free rein is when the leader allows the team do what they like in achieving goals.

Task oriented leadership focuses mainly on the task at hand.

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2 years ago

Suppose that Portugal and Switzerland both produce fish and olives. Portugal's opportunity cost of producing a crate of olives i

Rashid [163]

Answer:

Portugal has comparative advantage in producing olives.

Switzerland has comparative advantage in producing fish.

Portugal can gain from trade if it receives more than 3 pounds of fish per crate of olives.

Switzerland can gain from trade if it receives more than 1/11 of olives for each pound of fish.

d. 18 pounds of fish per crate of olives.

Explanation:

Switzerland and Portugal both countries can produce Olives and fish. One country has advantage in producing fish while other has advantage in producing olives. Both countries can gain from trade if they find a intermediary way so that both countries can be in win win situation. It is beneficial for Portugal if it trades with Switzerland if it receives more than 3 pounds of fish.

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2 years ago

Pie Corporation paid $319,500 to acquire 90 percent ownership of Slice Company on April 1, 20X2. At that date, the fair value of

Brums [2.3K]

Answer and Explanation:

As per situation the Journal entries with narrations is here below:-

As per requirement of a

1. Slice Co. investment Dr, $319,500

To Cash $319,500

(Being cash paid is recorded)

2. Slice Co. investment Dr, $27,000

To Income from Slice Co. $27,000

(Being investment is recorded)

3 Cash Dr, $13,500

To Slice Co. investment $13,500

(Being cash is recorded)

As per requirement b

1. Sales Dr, $90,000

To Total Expenses $80,000

To Dividends Declared $5,000

To Retained Earnings $5,000

(Being sales is recorded)

2. Common stock Dr, $160,000

Additional paid-in capital Dr, $40,000

Retained earnings Dr, $155,000

Income from Slice Co. Dr, $27,000

NCI in NI of Slice Co. Dr, $3,000

To Dividends declared $15,000

($1,500 + $13,500)

To Investment in Slice Co. $333,000

($319,500 + $27,000 - $135,00)

To NCI in NA of Slice Co. $37,000

(Being acquisition is recorded)

5 0

2 years ago