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2 years ago

Which of the following best describes economics?

1 answer:

5 0

Based on the given options, the option that best describes economics is B. Economics is about making choices on how best to use limited resources.

<h3>What is economics about?</h3>

Economics is a field that was founded in order to help societies to best manage their resources by being able to make choices on what to produce based on the resources that the society had. These resources are limited and so there is a need to properly use them for productions.

Humanity cannot survive without the production of goods and the provision of services but to do these things, we need to use the resources available to us. We cannot therefore produce everything we want and need to make choices about what to do with these resources and that is where economics comes in.

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The ________ contains job descriptions for all U.S. workers in more than 800 occupations. Standard Occupational Classification (

Hoochie [10]

Answer:

The correct answer is A. Standard Occupational Classification (SOC)

Explanation:

The standard occupational classification system is the classification and grouping of all the jobs and occupations that the department of labor uses to carry out its projections. What is sought with this system is to maintain an organized database to be able to classify all workers by area of action. This classification is made taking into account the skills, level of education and training required to perform the job.

3 0

3 years ago

A 15-year annuity pays $2,220 per month, and payments are made at the beginning of each month. If the interest rate is 10 percen

myrzilka [38]

The present value of the annuity is $304,744.04.

<h3>What is an annuity?</h3>

An annuity is a periodic fixed amount of money that is received periodically.

An annuity is usually a long-term insurance product that provides guaranteed income.

<h3>Formula for Present Value of Annuity:</h3>

PV = P \times \frac{1 - (1 + r)^{-n}}{r}

PV = present value of an ordinary annuity

P = value of each payment

r = interest rate per period

n = number of periods

<h3>Data and Calculations:</h3>

N (# of periods) = 72 (12 x 6)

I/Y (Interest per year) = 10%

PMT (Periodic Payment) = $2,220

FV (Future Value) = $0

Results:

PV for 6 years = $119,832.64

Sum of all periodic payments $159,840.00

Total Interest $-40,007.36

PV for 9 years = $184,911.40

Sum of all periodic payments = $239,760 ($2,220 x 108)

Total Interest $54,848.6

Total PV for 15 years = $304,744.04 ($119,832.64 + $184,911.40)

Thus, the present value of the annuity is $304,744.04.

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3 0

2 years ago

Although she wasn't told this when hired, at her new job Donna noticed that the employees eat lunch at their desks while continu

Yakvenalex [24]

Answer:

organizational culture.

Explanation:

organizational culture refers to a set of principles or beliefs that influence the way people behave within the organization.

The organizational culture tend to be differ between one company to another. It will be heavily depended on how the upper management wants the company to operate.

For example,

Some company wanted to create a very formal environment. They want their employees to dress like a professional and wants their employees to be extremely disciplined /completely focus their time on the job. You can see this type of organizational culture in most companies within the Finance industry.

Some company on the other hand, wants to create a comfortable environment. They let the employees dress casually and treat their work space like their private room at home. This type of culture can usually be found in art-related companies. Donna's workplace will most likely included in this category;.

7 0

4 years ago

Having a(n) means the amount of your liabilities is larger than the value of your assets.

EastWind [94]

Having a negative net worth means the amount of liabilities is larger than assets.

<h3>What is net worth?</h3>

Net worth is the amount by which assets exceed liabilities. In other words, net worth shows the difference between what is owned by one and what one owe.

If the assets exceed liabilities, then it is a positive net worth. Also, if the liabilities are greater than the assets, it is a negative net worth. Net worth would be the amount of cash you would have if you were to sell all of your personal belongings and pay off all the debt

Therefore, having a negative net worth means the amount of one's liabilities is larger than the value of the assets.

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8 0

2 years ago

At the end of its first year of operations, shapiro's consulting services reported net income of $27,000. they also had account

Otrada [13]

Answer: $11,200

Explanation:

Using the accounting equation:

(Total Assets) = (Total Liabilities) + (Total Capital)

So,

(Total Liabilities) = (Total Assets) - (Total Capital) (1)

Based on equation (1), in order to compute for the total liability, we need to compute the total assets and total capital.

At the end of the first year, the following are the assets Shapiro's consulting services (together with the amount):

Cash: $16,000
Office Supplies: $3,200
Equipment:    $24,000
Accounts Receivable: $8,000
TOTAL ASSETS $51,200

Note that the total assets is obtained by adding the amount (or value) of the all the assets listed above.

Since the net income is an increase (or decrease if it's a net loss) of capital, we classify net income as capital. In particular, the net income of Shairo's at the end of first year adds to the capital at the start of first year.

Moreover, the withdrawal of money by the owner also decreases the capital.

Thus, the total capital at the end of first year is calculated as follows:

Capital (start of the year): $15,000
Net Income (end of year): $27,000
Withdrawal Amount: ($2,000)
TOTAL CAPITAL: $40,000

Note: ($2,000) means -$2,000. This notation is used in accounting.

Hence using equation (1), the total liabilities at the end of first year is given by

(Total Liabilities) = (Total Assets) - (Total Capital)
= $51,200 - $40,000
Total Liabilities = $11,200

7 0

3 years ago