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NNADVOKAT [17]
2 years ago
13

3. Analyze. Explain how scarcity is related

Business
1 answer:
frosja888 [35]2 years ago
8 0

Scarcity is the condition wherein the mean to and end (that is resources required to achieve set goals) are limited in relation to the goals that need to be achieved.

Because of the above, one has to carefully make their choice while allocating the resources accordingly.

<h3>What is opportunity Cost?</h3>

When a choice is made between two competing alternatives, it means that one alternative has to be foregone. The alternative foregone is called the Opportunity Cost.

<h3>What is a rationing device?</h3>

A rationing device is a system that determines who receives what of limited commodities and resources.

Price is one of the most regularly employed rationing techniques in a capitalistic (market-based) economic system.

Those who are willing and able to pay the price for a certain commodity (or resource) can obtain it.

Learn more about Scarcity:
brainly.com/question/4747543
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The inventory costing method that reports the earliest costs in ending inventory is:_______
nikdorinn [45]

Answer:

a. LIFO.

Explanation:

The LIFO method refers to an inventory method that means the item which is last purchased should be sold first during the period of time. So in this inventory method the earliest cost in the closing inventory should be recorded

Therefore the given situation, the correct option is a.

And, the other options are wrong

4 0
3 years ago
Hat Tricks Company (HTC) is a Buffalo, New York, manufacturer of hats and gloves. Recently, the company purchased a new machine
saul85 [17]

The selling price per hat is mathematically given as

S=$62

<h3>What is the selling price per hat?</h3>

Direct labor hours required to produce first 100 hats=10hr

Direct labour cost =20hr*60$/hour = $1200

Other Direct cost =100hats*19$/hat = $1900

Total Direct cost. = $3100

Selling price is 200% of Direct production cost

$3100*200% = $6200

The selling price per hat = $6200 / 100hats

The selling price per hat = $62

In conclusion, The selling price per hat = $62

Read more about selling price

brainly.com/question/28017453

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3 0
2 years ago
A hardware store owner placed an advertisement for Sylvania LED bulbs in the local newspaper. Sylvania provided the storeowner w
Zolol [24]

Answer:

cooperative advertising

Explanation:

Based on the scenario being described within the question it can be said that Sylvania was using cooperative advertising to promote its products. This refers to when a retailer/wholesaler and a manufacturer share the costs for locally placed advertisements. Such as Sylvania is doing by paying 50% of the advertisement, mainly because it also benefits them to place their sample advertisements as well.

3 0
3 years ago
From a marginal analysis perspective, what is the inventory carry cost for Andrews if the company carries one additional unit of
Viktor [21]
Yes it is at the all the way at the end of it
7 0
3 years ago
How does the nurse arrange the events that take place during the promotion of glucose transportation into the cells through cell
Advocard [28]
The events that take place during the promotion of glucose transportation into the cell through the cell membrane occur in the following order:
1. Secretion of pro insulin by beta cells.
2. Storage of pro insulin in the pancreas.
3. Transformation of pro insulin into active insulin and 
4. Attachment of insulin to receptors.
8 0
3 years ago
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