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son4ous [18]
4 years ago
8

Discuss the following statement: "If society decides to use its resources fully and efficiently (that is to produce on the PPF),

then future generations will be worse off because they will not be able to use these resources." If this assertion is true, full employment of resources may not be a good thing. Comment on the validity of this assertion.
Business
2 answers:
Varvara68 [4.7K]4 years ago
8 0

Answer:

The validity of this assertion depends on the usage of these resources.

Explanation:

The answer to this question lies on how the available resources are spent. In a situation where resources are spent on the production of goods that have short lifespan of about 3 years with little or no capital production, it becomes a problem for future generations.

On the other hand, if a society uses the resources it has for the production of capital goods and for the sake of research purposes, future generations would benefit and be better off because economic growth would be faster.

notka56 [123]4 years ago
3 0

Answer: The efficient use of resources will be useful to the society at large and the future generations in particular because in this generation resources are limited while human want are numerous

Explanation:

Production possibility frontier (PPF) is the points showing the various combination of goods which can be produced with respect to the resources available for the production of such goods in addition to the technique of production available for used in the production of such goods at that particular period of time. In economics, human wants are said to be numerous, while resources to satisfy them are said to be limited. This explains the concept of scarcity of resources, the use of resources efficiently by producing on the production possibility frontier, doing so will be useful to the society at large and the future generations in particular. In the sense that, in this generation we are made to understand that resources are limited while the human wants are numerous.

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Before going into space ,astronauts spend many hours training on flight simulators allowing them to learn how to fly without lif
Zielflug [23.3K]

Explanation:

Fully loaded simulators are built with actual hardware and these hardware are supported by simulation software. Such systems are used by NASA. Every possible scenario is tested with the help of these simulator systems. If any problem comes, that is resolved at the spot to avoid any problem in the actual environment.

Software are designed to give commands to the hardware and hardware receive signals from software and do what they are being commanded.

Some technologies that are involved in this flight simulator may include 6 Degrees of Freedom of Motion, Visual Systems, Visual Effects, Realistic acoustics and the Robotics as well.

7 0
4 years ago
Ernest Burns, Orlando summemour, and randy Hatcher formed swi Partners, a general partner- ship. J. t. turner Construction Compa
SpyIntel [72]

Answer:

Summemour and Hatcher WERE JOINTLY and SEVERALLY LIABLE

Explanation:

What is Partnership

Partnership is a form of business, where individuals come together to carry on business with the primary intention of making profit. Mostly, they come together by contributing capital and expertise to make the business work . Every partner is however liable and responsible for both the profit made and the losses or liabilities of the partnership.

Although the general partner has unlimited liability, every partner is however jointly and severely liable for the business

Were Summemour and Hatcher Liable?

This case is referred in the J.T. Turner Construction Company v. Summerour and Hatcher(2009). The court this case declared that both Hatcher and Summemour were jointly and severally liable as a result of the following reasons.

A partner becomes liable especially for a prior judgment based on the following

1. The partnership has proven indebtedness

2. A general partner in the partnership was sued to court

Based on these, Summemour and Hatcher WERE JOINTLY and SEVERALLY LIABLE

6 0
3 years ago
A woman deposits ​$11 comma 000 at the end of each year for 15 years in an account paying 5​% interest compounded annually. ​(a)
nignag [31]

Answer and Explanation:

The computation is shown below:

a. The final amount she will have on deposit is

Future value = Present value × {(1 + interest rate)^number of years - 1} ÷ interest rate

= $11,000 × {(1 + 0.05)^15 - 1} ÷ 0.05

= $11,000 × 21.57856359

= $237,364.20

b. The amount at 4% is

Future value = Present value × {(1 + interest rate)^number of years - 1} ÷ interest rate

= $11,000 × {(1 + 0.04)^15 - 1} ÷ 0.04

= $11,000 × 20.02358764

= $220,259.46

c. The losing amount in case when she used her brother-in-law's bank is

= $237,364.20 - $220,259.46

= $17,104.74

We simply applied the above formula

5 0
4 years ago
What are the three main characteristics of most of the 1 billion malnourished people in the world?
Margarita [4]
Little power, little money, are women or children
3 0
3 years ago
"" The ________________ arises when a price changes because consumers have an incentive to consume less of the good with a relat
Elis [28]

Answer:

The correct answer is "substitution effect"

Explanation:

When the price of a good or service rises, and the consumers change into a cheaper product with similar characteristics; immediately the market experiencing a decrease in sales for these changes; That phenomenon is called substitution effect.  

For Example:

When the chicken price increases, the consumers prefer to consume pork; Immediately the chicken sales decrease for this decision. That is called a substitution effect.

7 0
3 years ago
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