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3 years ago

Economics studies Scarcity.

Business

1 answer:

NNADVOKAT [17]3 years ago

5 0

Answer:

2. What to produce, how to produce it, and who gets it.

Explanation:

Scarcity of resources is the major issue, Economics deals with.

In any economy resources are scarce i.e limited in quantity and how efficiently those resources are used is what Economics revolves around.

The central problems in an economy are:

What to produce
How to produce
For whom to produce

Economics aims at answering this central problem.

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TEA [102]

As a new Curtis hire, the first step in looking for a supplier is to explore priorities within your own company and find out which Curtis stakeholders, such as manufacturing and marketing, need a supplier.

Every organizational action comes from planning, there needs to be analysis, gathering of relevant information, evaluation of alternatives and therefore decision-making.

Therefore, the choice of a new supplier must be based on the company's needs, and the one that offers the best opportunity cost, the best price, service and quality must be chosen.

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3 years ago

Racing Motors wants to save $825,000 to buy some new equipment three years from now. The plan is to set aside an equal amount of

victus00 [196]

Answer:

$63,932.91

Explanation:

FV = $825,000

Number of payments = 4 quarters * 3 years = 12

Rate = 4.45%, assuming per annual

The amount company need to save each quarter is the payment amount.

We can easily calculate payment amount by formula in excel =PMT(4.45%/4,12,,825000,1) = 63,932.91

6 0

3 years ago

Celine Dion Company issued $600,000 of 10%, 20-year bonds on January 1, 2020, at 102. Interest is payable semiannually on July 1

anzhelika [568]

Answer:

The Journal entries are as follows:

(a) On January 1, 2020

Cash A/c(6,000 bonds × $102) Dr. $612,000

To Bonds payable $600,000

To premium on bonds payable $12,000

(To record the issuance of the bonds)

Workings:

premium on bonds payable = $612,000 - $600,000

= $12,000

(b) On July 1, 2020

Interest expense A/c Dr. $29,700

Premium on bonds payable A/c Dr. $300

To cash A/c $30,000

(To record the interest expense)

Workings:

Cash = $600,000 × (6/12) × 10%

= $30,000

Premium on bonds payable = $12,000 ÷ 40 periods

= $300

Interest expense A/c Dr. $29,700

Premium on bonds payable A/c Dr. $300

To Interest payable A/c $30,000

(To record the accrual of interest expense)

8 0

3 years ago

Grain co-op, llc and hearty cereals, inc., discuss the terms of a contract for periodic deliveries of corn. grain faxes hearty a

pishuonlain [190]

The answer is "Refer to Fact Pattern 16-1. Between Grain and Hearty, there is a written contract".

An agreement is a verbal or written consent to do work in return for some advantage, for the most part an payment. A written contract is an agreement made on a printed record that has been marked by both the moneylender and the borrower. Composed contracts are lawfully official and less demanding to implement than oral contracts.

3 0

3 years ago

a. If Canace Company, with a break-even point at $960,000 of sales, has actual sales of $1,200,000, what is the margin of safety

lutik1710 [3]

Answer:

Results are below.

Explanation:

Giving the following information:

Break-even point in sales= $960,000

Actual sales= $1,200,000

To calculate the margin of safety in dollars and as a percentage, we need to use the following formulas:

Margin of safety= (current sales level - break-even point)

Margin of safety= (1,200,000 - 960,000)

Margin of safety= $240,000

Margin of safety ratio= (current sales level - break-even

point)/current sales level

Margin of safety ratio= 240,000 / 1,200,000

Margin of safety ratio= 0.2 = 20%

8 0

2 years ago