All categories

3 years ago

How does scarcity affect Trey?

Business

1 answer:

Diano4ka-milaya [45]3 years ago

6 0

Answer:

The answer is: All our actions and decisions are affected by scarcity. Trey must decide what actions he needs to take to maximize his well being.

Explanation:

By definition all resources are finite, they have a limit. Even the richest corporations in the world have a certain amount of money, no one can have infinite money. No basketball team is made up of 7 billion people, someone in the world will not be able to play basketball. Time, materials, goods, services, everything is limited, so everything is scarce.

Trey´s (and everyone else´s) day is only 24 hours long, so he must decide how to divide his time to achieve the goals that maximize his happiness or well being. He must decide what is most important for him, a car or the basketball team. Time scarcity sets up a limit on the decisions we make. He must decide whether to work more to be able to buy the car, or should he stay on the team and forget about the car. Only Trey can decide based on what will make him happier.

You might be interested in

Here are some important figures from the budget of Crenshaw, Inc., for the second quarter of 2019. April May June Credit sales $

ruslelena [56]

Answer and Explanation:

The presentation of the cash budget for the three months is shown below:

Particulars April May June

Beginning

cash balance $182,000 $264,650 $434,150

Add:

Cash receipts :

Credit sales

collections $577,750 $622,700 $621,650

Total cash

available $759,750 $887,350 $1,055,800

Less:

Cash disbursements

Purchases -$289,000 -$302,000 -$282,000

Wages, Taxes

and expenses -$137,000 -$129,000 -$179,000

Interest -$15,600 -$15,600 -$15,600

Equipment

purchases -$53,500 -$6,600 -$248,000

Total

cash disbursements -$495,100 -$453,200 -$724,600

Ending

cash balance $264,650 $434,150 $331,200

Working Notes:

Cash collection from credit sales

Particulars March April May June

Credit sales $561,000 $689,000 $598,000 $751,000

Cash collected :

35% cash collected

in month of sales $196,350 $241,150 $209,300 $262,850

60% cash collected

in following month

of sales $0 $336,600 $413,400 $358,800

Total cash

collected from sales $577,750 $622,700 $621,650

7 0

3 years ago

An association had a fund balance of 75 on January 1 and 60 on December 31. At the end of every month during the year, the assoc

ValentinkaMS [17]

Answer: 0.11 or 11%

Explanation: The dollar-weighted return (DWR) measures the rate of return of an investment or a portfolio, taking under consideration the timing of flows. for every deposit, add the resulting amount to the start balance, and for every withdrawal, subtract that quantity. Check the attachment for the solution.

Once you've got both numbers, divide the first by the second. which will offer you the dollar-weighted investment return, which you'll then multiply by 100 to give you a return in percentage terms.

3 0

3 years ago

Suppose there are 2,000 people who are unemployed as a result of cyclical unemployment and 1,000 people who are unemployed as a

olga55 [171]

Answer:

1,000

Explanation:

Suppose the town of Boone has a total population of 50,000 people. Of those, 45,000 people are employed. There are 1,000 full-time students who are not employed or actively seeking work. The rest of the people are out of work but have been actively seeking work within the past four weeks.

This information is not given in the question.

For computing the frictional unemployment, first we have to determine the unemployed which is shown below:

Number of unemployed would be

= Total population - employed - full time students

= 50,000 - 45,000 - 1,000

= 4,000

Now the frictional unemployment would be

= Unemployed - cyclical unemployment - structural unemployment

= 4,000 - 2,000 - 1,000

= 1,000

5 0

3 years ago

A company has the following balances on December 31, 2018, after year-end adjustments: Accounts Receivable = $62,500; Allowance

Dovator [93]

Answer:

the net realizable value of accounts receivable $56.300

Explanation:

To calculate the net realizable value of accounts receivable is necessary to deduct from Account Receivable the total credit amount of the Allowance for Uncollectible Accounts.

The Debit value of Accounts Receivable minus the credit balance of Allowance for Uncollectible Accounts gives the Net Value of Accounts receivables.

8 0

3 years ago

Certain economic principles are of considerable importance in the valuation of real estate. The principle that "no buyer will pa

Svet_ta [14]

Answer:

Substitution

Explanation:

Principle of subsitution states that no consumer should buy a product for a high price of he can get an alternative (duplicate) that is of a cheaper price.

Substitutes are alternatives that provide similar satisfaction to the customer.

When the price of one product goes up the customer has a choice of going for an alternative.

For example honey and sugar are substitutes. When the price of one goes down people will go for the cheaper alternative. This acts as a price control mechanism.

5 0

3 years ago