Suppose that the hypothetical country of Andesland suffers a chronic scarcity of its staple grain, quinoa.
Andesland is restrained by the resources it has to satisfy the various wants of its residents. The given statement is true.
One of the core principles of economics is scarcity. It indicates that there is a gap between the supply of an item or service and the demand for it. As a result, customers, who ultimately drive the economy, may have fewer options due to scarcity.
Given such shortages are unheard of in wealthy nations, Andesland must be a developing nation. When a country's resources are insufficient to meet all of its citizens' needs, the situation is referred to as scarcity. Even though it is less obvious in wealthy countries, scarcity still occurs.
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A lifeguard would be an example of one.<span />
Answer:
$10,000
Explanation:
The required sales is calculated as;
= Fixed costs + Desired profit / Contribution margin ratio
Given that;
Fixed costs = $2,200,000
Desired profit = $200,000
Variable cost = 20% of sales
Sales = X
Contribution margin ratio =
X = $2,200,000 + $200,000 /
Answer:
BEP $347,383.5223
Explanation:
becuse we have multiple producets, we have to calclate the CMR including all of them.
292,760 contribution mix
450,000 sales mix
292,760/450,000 = 65.05777% CMR mix
226,000 fixed cost / 0.6505777 = $347,383.5223
Answer:3 years
Explanation:
Cliff vesting is when an employee of a company becomes fully vested on a specified date rather than the employee becoming partially vested in increasing amounts over extended period. Cliff Vesting is a process whereby the employees are entitled to full benefits from their firm’s pension policies and qualified retirement plans on a given date.
Upon the completion of the cliff period, employees receive full benefits. The Pension Protection Act of 2006 deduced a three-year cliff vesting schedule for the designated defined-contribution plans which includes 401Ks.
