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3 years ago

The basic goal in dealing with the problem of scarcity is

1 answer:

6 0

Scarcity is to not have enough resources to fullfil a societies wants and needs. The 3 basic questions a society must ask inorder to deal with this are. what to produce? how to produce? and, for whom to produce? whoever answers those questions is how I societies economic system is decided. Though to answer your question in short, the basic goal of a society is to deal with scarcity, they achieve this by producing as much resources as possible with the little resources available.

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Look at the examples, and then determine which type of advantage each one describes.

lara [203]

Answer:

1) If a producer can provide cable service more cheaply than another producer, it is an absolute advantage.
2) If a producer can produce salads while giving up fewer opportunities to make sandwiches than another producer, it is a comparative advantage.

3) If a producer can create more car parts than another producer does, using the same number of resources, the price per unit is cheaper and it is an absolute advantage.

Absolute advantage is the ability of a person, a country, company or region to produce a good or service at a cheaper price per unit than another entity producing the same good or service.

Comparative advantage is the ability of a person, a country, company or region to produce a specific good or service more efficiently (lower opportunity cost) than another entity to produce the same good or service.

4 0

3 years ago

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Waterways Corporation is a private corporation formed for the purpose of providing the products and the services needed to irrig

zmey [24]

Answer:

Explanation:

PREPARE COST OF GOODS MANUFACTURED :

Beginning work in process 42000

Raw material consumed

Beginning raw material 38000

Add : raw material purchase 184500

Less : Ending raw material (52700)

Raw material consumed 169800

DIrect labour 42000

Factory overhead

Factory supplies used 16800

Factory utilities 10200

Depreciation factory equipment 16800

Indirect labour 48000

Property taxes 5500

Reent factory equipment 47000

Repairs factory equipment 4500

Total manufacturing overhead 148800

Total manufacturing cost 360600

Less : Ending work in process (52700)

Cost of goods manufactured

INCOME STATEMENT :

Sales revenue 1350000

Cost of goods sold

Beginning finished goods inventory 72550

Cost of goods manufactured 349900

goods available for sale 422450

Less : endin finished goods inventory (68800)

Cost of goods olsld (353650)

Gross profit 996350

Less : advertising expenses (54000)

Less : selling commission (40500)

Less : dep on office equipment (2400)

Less : office suppplies used (1600)

Less : other administrative exp (72000)

Less : Salaries exp (325000) (495500)

Net income 500850

BALANCE SHEET CURRENT SECTION :

ASSETS

Current assets

Cash 260000

Account receivable 275000

Prepaid exp 41250

Inventory

Raw material 52700

Work in process 52700

Finished goods 68800 174200

Total current assets 750450

8 0

3 years ago

Which one of these affects the length of the cash cycle but not the operating cycle? A) Inventory period B) Accounts payable per

kifflom [539]

Answer:

E) Both the accounts receivable and the accounts payable periods

Explanation:

The account receivable and the accounts payable affect the length of the cash cycle. This is because, the longer the cash cycle, the more likely a firm will need external financing.

4 0

3 years ago

The _____ stage of the Change Management Continuum Model demonstrates a positive impact on the organization.A. internalizationB.

gladu [14]

Answer:

The correct answer to the following question will be Option C (Adoption).

Explanation:

The adoption stage falls under the Change Management Continuum System educational process. This explains the change which has shown a significant or positive impact on the corporation.

The mental process by which a person moves from the first hearing about such an invention to actual adoption is the acceptance process for either a new product.

There are five stages are in the Adoption stage:

Product awareness
Product interest
Product evaluation
Product trial
Product adoption

Therefore, Option C is the right answer.

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3 years ago

This year, Mr. Thomas has a higher credit score than he did last year. Which of the following should Mr. Thomas expect with the

9966 [12]

An easier time getting a car loanan easier time renting an apartment

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3 years ago

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