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2 years ago

Deciding how to make the best use of limited resources to satisfy virtually unlimited wants is known in economics as.

1 answer:

7 0

Deciding how to make the best use of limited resources to satisfy virtually unlimited wants is known in economics as economizing behavior.

<h3>What is Economics?</h3>

Economics is a social science that examines the decisions that people, businesses, governments, and nations make regarding the distribution and consumption of products and services.

Economics is the study of how individuals divide up finite resources between individual and group uses for production, distribution, and consumption.

Economics has two subfields: macroeconomics and microeconomics. Efficiency in exchange and production is the main focus of economics. Both the Consumer Price Index (CPI) and the Gross Domestic Product (GDP) are frequently used economic statistics.

To spot prospective trends or predict the future of the economy, economists use economic indicators like the GDP and the consumer price index.

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Briefly explain whether you agree or disagree with the following statement: "AssetsLOADING... are things of value that people

bekas [8.4K]

Answer:

A. Disagree. Checking accounts represent something that the bank owes to the owner of the account. It is a bank liability.

Explanation:

Given the definitions of liabilities and assets, it is also important to distinguish the <em>point of view</em> when discussing whether a specific item is an asset or liability.

Since a checking account represents money bank users deposit into the bank, that means that the <u>bank owes the money deposited</u> to the bank customer.

Similarly, a car loan is a bank asset. It is an essential bank product representing the money lent to someone. That means <u>bank users owe the bank</u> in that case. Although the bank doesn't possess the loan money after providing someone with a loan, the loan money will be returned to the bank after some time (representing the key asset characteristic).

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3 years ago

A bank account has an initial balance of $450. The account holder deposits $125 every week. How many weeks (excluding any intere

LUCKY_DIMON [66]

It will take the account holder 15 weeks to come up with a principal balance of $2325.

How?

Principal Balance - Initial Balance: $2325 - $450 = $1875

The account holder needs $1875 more in order to come up with the total principal balance of $2325.

$1875 / Weekly Deposits: $1875 / $125 = 15 Weeks

7 0

3 years ago

Read 2 more answers

Grace Food Company Contribution Income Statement for the Month of October Corn Flakes Frosted Flakes Total Amount Percent Amount

ivann1987 [24]

Answer:

$1.5 million.

Explanation:

Calculation of the amount of the break-even sales for Grace Food Company:

Sales mix calculation will be:

Corn Flakes = $2,000,000/$2,500,000

= 0.80,

Frosted Flakes = $500,000/$2,500,000

= 0.20.

Calculation for the Contribution margin ratio will be:

(60%) × (0.80) + (50%) × (0.20) = 58�lculation for the Break-even point will be:

Break even point= Total Fixed Costs/Overall Contribution margin ratio

Hence,

$870,000/0.58= $1.5 million.

Therefore amount of break even sales will be $1.5 million.

8 0

3 years ago

A new operating system for an existing machine is expected to cost $565,000 and have a useful life of six years. The system yiel

Inessa [10]

Answer:

The net present value of each potential investment:

Machine A Machine B

NPV $167,675 $2,267

Explanation:

a) Data and Calculations:

Machine A Machine B

Cost of machine $565,000 $410,000

Incremental after-tax income 165,000 75,000

Salvage value 25,000 26,000

Estimated useful life 6 years 8 years

Required rate of return 10% 10%

Annuity factor 4.355 5.335

PV factor 0.564 0.467

PV of incremental after-tax income $718,575 $400,125

($165,000*4.355) ($75,000*5.335)

PV of salvage value $14,100 $12,142

Total PV of income $732,675 $412,267

NPV $167,675 $2,267

= Total PV of income minus PV of initial investment cost

7 0

3 years ago

When Sebastian wrote the contract with BP for over two billion dollar s, he included targets for performance that had to be met

Alexeev081 [22]

Answer:

Escalation of commitment

Explanation:

Escalation of commitment is the situation where an individual invest the resources into a course of action which is failing. Resources could be time, energy and money which an individual continue to invest into an investment as the individual do not want to be inconsistent.

So, in this situation, before releasing the payment, he ensures that the targets should be met for the performance. He is avoiding the situation of escalation of commitment bias.

7 0

3 years ago