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defon
1 year ago
8

Fundamentally, economics deals with:______.

Business
1 answer:
attashe74 [19]1 year ago
6 0

Fundamentally, economics deals with scarcity. Assuming humans have unlimited wants within a world of limited means, economists analyze how resources are allocated for production, distribution, and consumption. The study of microeconomics focuses on the choices of individuals and businesses, and macroeconomics concentrates,

On the behavior of the economy as a whole, on an aggregate level. One of the earliest recorded economists was the 8th-century B.C. Greek farmer and poet Hesiod who wrote that labor, materials, and time needed to be allocated efficiently to overcome scarcity. The publication of Adam Smith's 1776 book,

An Inquiry Into the Nature and Causes of the Wealth of Nations sparked the beginning of the current Western contemporary economic theories.

To learn more about  scarcity, click here

brainly.com/question/17899742

#SPJ4

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Sellers of a good bear the larger share of the tax burden when a tax is placed on a product for whicha.the supply is more elasti
Roman55 [17]

Answer:

B. The demand is more elastic than supply .

Explanation:

Demand & supply are buyers & sellers ability , willingness to buy & sell respectively .

Elasticity means responsiveness of demand & supply to prices.

'Tax burden' can be forwarded / shared only in case of Indirect taxes , whose burden & incidence lie on different people.

The burden falls on the party (consumers / suppliers) whose market element (demand / supply) is inelastic i.e less responsive to prices.

So , if sellers are bearing larger burden : It means demand is relatively elastic & supply is relatively inelastic.

6 0
2 years ago
Fifteen years ago, Mr. Fairhold paid $50,000 for a single-premium annuity contract. This year, he began receiving a $1,300 month
marusya05 [52]

Answer: $1091.61

Explanation:

From the question, we are told that fifteen years ago, Mr. Fairhold paid $50,000 for a single-premium annuity contract and that this year, he began receiving a $1,300 monthly payment that will continue for his life and based on his age, he can expect to receive $312,000. The amount of each monthly payment is taxable income to Mr. Fairhold goes thus:

Based on the question, Mr Fairhold will have a tax free return of the $50,000 paid. The exclusion ratio will be the investment divided by the expected return. This will be:

= $50,000/$312,000

= 0.1603

Since he received monthly payment of $1,300 and exclusion ratio is 0.1603, the tax free return on investment will be:

= $1,300 × 0.1603

= $208.39

Taxable annuity payment will now be:

= $1300 - $208.39

= $1091.61

6 0
3 years ago
Operations management is the management of:
Furkat [3]

designing and controlling the process of production and redesigning business operation in the production of goods and services.

4 0
2 years ago
In the long run, inflation is caused by
NeTakaya

Answer:

c. governments that print too much money

Explanation:

In the long run, increase in money supply causes inflation. Since there are more money circulated in the market than the needs for transaction, inflation (an increase in prices) will be rise inevitably.

The government print too much money when they borrow to much or cannot pay their loans. The government finance its policies by tax and borrowing (issuing the government bonds), when the tax is not enough, the will issue bonds. If the due comes and they do not have enough money, they may force the central bank to print more money to pay their loans or buying their own bonds. This causes the rise of money supply resulting in inflation in the long run. Bolivia is an example of this situation.

8 0
3 years ago
For each of the following, compute the present value: (Do not round intermediate calculations and round your answers to 2 decima
Crazy boy [7]

Answer:

Results are below.

Explanation:

Giving the following information:

Years - Interest Rate - Future Value

9 7% $18,828

1 12% 43,017

13 15% 805,382

18 14% 662,816

To calculate the present value, we need to use the following formula:

PV= FV/(1+i)^n

1: PV= 18,828/(1.07^9)= $10,241.18

2: PV= 43,017/(1.12)= $38,408.04

3: PV= 805,382/(1.15^13)= $130,897.1

4: PV= 662,816/(1.14^18)= $62,676.63

4 0
3 years ago
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