All categories

2 years ago

3. Analyze. Explain how scarcity is related

1 answer:

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
#SPJ1

You might be interested in

What kind of cars is out there?

charle [14.2K]

Answer:

tesla

Explanation:

yes

6 0

3 years ago

Read 2 more answers

Tawstir Corporation has 400 obsolete personal computers that are carried in inventory at a total cost of $576,000. If these comp

34kurt

Answer:

If the company upgrades the units, income will increase by $20,000 (compared to sell as-is).

Explanation:

Giving the following information:

Units= 400

If these computers are upgraded at a total cost of $100,000, they can be sold for a total of $160,000.

As an alternative, the computers can be sold in their present condition for $40,000.

We won't take into consideration costs before the upgrade, because they will remain in both options.

Effect on income= $40,000 increase

<u>Continue processing:</u>

Effect on income= 160,000 - 100,000= $60,000 increase

If the company upgrades the units, income will increase by $20,000 (compared to sell as-is).

7 0

3 years ago

The accounting records of EZ Company provided the data below. Net income $ 64,250 Depreciation expense 13,750 Increase in invent

andrey2020 [161]

Answer:

Net cash flows from operating activities = $94,750

Explanation:

Net cash flows from operating activities = Net income + Depreciation expense - Increase in inventory - Decrease in salaries payable + Decrease in accounts receivable + Amortization of patent + Amortization of premium on bonds + Increase in accounts payable

=> Net cash flows from operating activities = $64,250 + $13,750 - $4,875 - $3,575 + $6,500 + $1,025 + $6,925 + $10,750

=> Net cash flows from operating activities = $94,750

N.B. Cash Dividends fall under Cash Flow from Financing Activities, that's why it has not been taken in account in Net cash flows from operating activities.

6 0

4 years ago

When does a conflict of interest occur???

Ahat [919]

Occurs when employee has an interest that provides an incentive to do his or her job in a way that serves that interest and not necessarily the interest of the employer he or she his obligated to serve

3 0

4 years ago

Managers choose the manufacturing location for each product based on where the best combination of cost, quality, and technology

Bingel [31]

Answer:

The correct answer is letter "D": rationalization.

Explanation:

Rationalization refers to the restructuring of a company in terms of changing its operational processes, strategy, or corporate size on an attempt of increasing its efficiency. That stage is reached by reducing costs and increasing profits. The introduction of a new product could push a firm to rationalize whether to expand or cut part of its operations.

5 0

4 years ago