Answer:
Being self-sufficient dramatically reduces one's standard of living.
Explanation:
Thoreau had a view that one should go into the woods, live simply and produce what you need with your own hands (be self-sufficient).
Economists explain why most people in the United States do not do this. To an economist everyone in society have their own specialisation. That is why they emphasize division of labour.
So going into the woods to be self-sufficient is not the best use of one's resources and abilities.
Everyone has something unique to contribute in an interaction. What I have comparative advantage producing will be difficult for another person.
This will create a network of people giving what they have comparative advantage producing in exchange for goods and services they do not have competitive advantage producing. This results in everyone maximising utility.
But Thoreau's view will not maximise utility because it is not possible you have advantage producing all you need.
Answer:
Answer:
Date General Journal Debit Credit
a. Cash $70,000
Common stock $5,000
(5*100 shares * $10)
Additional paid - in - capital $65,000
b. No journal entry required - -
c. Cash $18,000
Notes payable (long term) $18,000
d. Equipment $11,000
Cash $1,500
Notes payable (Short term) $9,500
e. Notes receivable $2,000
Cash $2,000
f. Store fixtures $15,000
Cash $15,000
Answer:
Worldwide Wholesalers, Inc. has decided that instead of having its employees manage its raw materials inventory, it will pay its suppliers to store and deliver the products as needed. What action has Worldwide taken?
A. Operations control
B. Outsourcing
C. Value-added analysis
D. Business process re-engineering
E. Quality control
Answer: B
Explanation:
Outsourcing is the business practice of contracting a gathering outside an organization to perform benefits and make products that generally were acted in-house by the organization's own workers and staff. Outsourcing is a training for the most part attempted by organizations as a cost-cutting measure. In that capacity, it can influence a wide scope of employments, going from client care to assembling to the back office. Outsourcing can assist organizations with decreasing work costs fundamentally. At the point when an organization utilizes outsourcing, it enrolls the assistance of outside associations not partnered with the organization to finish certain errands. The outside associations normally set up various remuneration structures with their representatives than the outsourcing organization, empowering them to finish the work for less cash. This at last empowers the organization that decided to redistribute to bring down its work costs.
I guess the correct answer is conversion rate.
Zappos.com constantly reminds customers of recently viewed items and informs them when stock is low in effort to entice the customer to make a purchase. Zappos is trying to improve its conversion rate.
Answer: in personam jurisdiction
Explanation: The “long-arm statute,” is a law in majority of states that explains when a court can have in personam jurisdiction over parties who do not reside in that state. Certain conditions must be met for the court to have this jurisdiction. In general, the cause of action should have occurred in the state where the case is being filed; the defendant was personally served with the court papers in the state; or the defendant has a minimum contact with the state.
In personam jurisdiction is defined as a court's jurisdiction over the parties in a lawsuit, that is, it has both the authority to rule on the law and evidences of a suit and the power to enforce its decision upon all parties to the suit.
