Answer: A: remain constant on a per-unit basis but change in total based on activity level
Explanation: A Variable cost is a cost an organisation incurs that is affected by fluctuations in production and so changes between given periods.
variable costs are not consistent but fluctuates in relation to the production activity of an organisation. Variable costs increases as production level increases and vise versa.
Costs associated with variable costs are those that contribute directly to the goods or service being offered by a business and therefore differ from period to period.
The total costs a company incurs are divided into Variable costs and Fixed costs. variable costs are costs incurred on raw materials, commission, labour, packaging and shipping while fixed costs are costs incurred on rent, salaries, repairs and maintenance, electricity etc.
Answer:
c. subsidies
Explanation:
Based on the scenario it can be said that the instrument of trade policy that is being used by the French Government are known as subsidies. These are government incentives that are given as a form of financial aid to an economic sector. This is given for the main purpose of increasing economic and social policy within that sector. Such as the French Government wants to do with the agricultural industry in this scenario.
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<u><em>Answer:</em></u>
<u><em>Mixed economy</em></u>
<u><em>Explanation:</em></u>
There are three types of Economies:
<u><em>Command Economy:</em></u>
An economy where price and products are controlled by the government. It is very commonly seen in communist countries, like China or Vietnam.
<u><em>Free market:</em></u>
An economy where the government has little to no control. However, a perfect free economy doesn't exist anywhere, and is just a concept.
<u><em>Mixed Economy:</em></u>
An economy where the market is controlled by both the people/consumers, and the government. America is a mixed economy. Individuals are allowed to own property with little government intervention. However, the government has a lot more control over other sectors of the market.
<u><em>So, to answer the your question, because the Mixed economy is controlled by the government and the poeple, it is the answer.</em></u>
Answer:
Scarcity and Utility
I will explain the concepts of scarcity, value, and utility using my laptop and some writing pens. I have only one laptop available in my family. I use it 24-hours daily. I attach so much value (utility) to the laptop because it is only one. It is very scare in my household. On the other hand, I have a packet of writing pens. Pens are relatively not scare in my household. If my laptop is missing, I will raise uproar in the house. Everybody present will answer a tedious query. But, if one of the pens gets missing, I may not even be aware that it is missing. At the moment, I do not attach much value (utility) to the writing pens because I have many of them presently . Writing pens are not scare in my household, as I said earlier.
Using these examples, I have demonstrated the concepts of scarcity, utility, and value.
Explanation:
Therefore, scarcity is defined by the value and the relative availability of a good. Scarcity is a basic economic problem that shows the gap existing between limited resources and unlimited needs. Based on the lack experienced with satisfying a need, one has to always choose between alternatives in order to maximize resource allocation and utility.
Utility in Economics refers to the value or satisfaction derivable from the meeting of a human or economic need. It is initially connected to the concept of scarcity. But after attaining some level of utility, scarcity temporarily evaporates. And this is the dividing thin line. This is why they are mostly used together. "Something that is valuable is scarce and give utility." Something that is not highly valuable is not usual scarce and does not give much utility, at least, to an extent.
