You would Ask for cash back
Question:
If Korea is capable of producing either shoes or soccer balls or some combination of the two then a. Korea should specialize in the product in which it has an absolute advantage.
b. It would be impossible for Korea to have an absolute advantage over another country in both products.
c. Korea is efficient in the production of both goods.
d. Korea's opportunity cost of shoes is the inverse of its opportunity cost of soccer balls.
Answer:
d. Korea's opportunity cost of shoes is the inverse of its opportunity cost of soccer balls.
Explanation:
Opportunity cost is defined as the cost of choosing or picking particular option or alternative over another option or alternative.
In question, we are told that Korea is capable of producing either shoes or soccer balls or some combination of the two.
Therefore Korea would have to make a list of priorities also know as alternatives or options, to decide if
a. they would produce shoes,
b. or soccer balls
c. or a combination of both shoes or soccer balls.
This process described here is the process of Opportunity cost. Korea would then weigh their options and choose which is better for them either based on profit or any other reason.
Hence, Korea's opportunity cost of shoes is the inverse of its opportunity cost of soccer balls.
Answer:
Dividend paid in current year = $6,898
Explanation:
Calculating net profit
Sales = $818,790
Less: Costs = $748,330
Less: Interest = $24,450
Less: Depreciation = $56,100
Earning before taxes = Loss (10,090)
Tax benefits = $10,090 
34% = $3,431
Net losses = $10,090 - $3,431 = $6,659
Opening retained earnings = $172,270 Less: Losses for the year = $6,659
Balance = $165,611
Less: Closing balance = $158,713 = $6,898
Thus<u> amount of dividend paid in current year = $6,898</u>
Change in value of common stock will not be considered.
Answer:
Annual depreciation= $28,940
Explanation:
Giving the following information:
Kansas Enterprises purchased equipment for $78,500 on January 1, 2021. The equipment is expected to have a five-year service life, with a residual value of $6,150 at the end of five years.
Annual depreciation= 2*[(original cost - residual value)/estimated life (years)]
Annual depreciation= 2* [(78,500 - 6,150)/5]= $28,940
Answer:
The resources are allocated by the combined actions of the firms and the households and the central planning authority like the government.
Explanation:
Market economy is the economy where the demand and the supply laws direct the production of the services and goods. The supply involve the labor, natural resources and capital. Demand comprise of purchases by the consumers and the government.
In the market economy, the resources are allocated by the decisions of the firms and the households who are interacting in markets. It is an economy where the most economic decisions are the consequence from the interaction of the sellers and the buyers in the market but the government also plays a very vital role while allocation of resources are done.
