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3 years ago

The term "scarcity" in economics can refer to the fact that:

Business

1 answer:

Dominik [7]3 years ago

7 0

Answer:

The correct answer is letter "C": no country can produce enough products to satisfy everybody's economic wants .

Explanation:

Scarcity is the basic economic problem by which individuals have unlimited wants but have limited resources to fulfill them. Scarcity drives individuals to allocate their resources efficiently so most of their needs can be satisfied.

Because of scarcity, people are forced to make trade-offs implying part of their needs must be sacrificed so other needs can be covered. Thus, we could say that there is no country able to produce enough products to satisfy everyone's wants.

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Find out equilibrium price and output for the following market condition.

Ierofanga [76]

Answer:

At equilibrium demand is equal to supply therefore

Qd=Qs

50-2P=3P

By collecting like terms

50=3P+2P

50=5P

P=10

THEREFORE equilibrium price is 10

Explanation:

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3 years ago

PLZ HELP ASAP 20 POINS FOR CORRECT ANSWER!!!!!!! Jonson Works in a retail store and updates all the sales records by the end of

Zigmanuir [339]

Answer:

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3 years ago

Read 2 more answers

Perfect Clean, Inc. provides housekeeping services. The following financial data have been provided. Service Revenue $ 70 comma

Dennis_Churaev [7]

Answer:

The contribution margin is $29,650

The contribution margin ratio is 42.35%

Explanation:

Contribution Margin : The contribution margin shows a difference between sales revenue and variable cost.

For computing the contribution margin, the following formula is used which is shown below:

= Service revenue - Cleaning supplies - wages expenses

= $70,000 - $22,000 - $18,350

=$29,650

Thus, the contribution margin is $29,650

Now, the contribution margin ratio is a ratio between contribution margin and sales.

In mathematically,

Contribution margin ratio = Contribution ÷ Service revenue

= $29,650 ÷ $70,000

= 42.35%

Hence, the contribution margin ratio is 42.35%

5 0

3 years ago

Stanford Corporation has four categories of overhead. The expected overhead costs for each category for next year are as follows

aliina [53]

Answer:

Results are below.

Explanation:

First, we need to calculate the predetermined overhead rate:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 2,325,000 / 20,000

Predetermined manufacturing overhead rate= $116.25 per direct labor hour

Now, we can allocate overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 116.25*375

Allocated MOH= $43,493.75

b)

Total cost= 5,000 + 7,500 + 43,493.75

Total cost= $55,993.75

c)

Selling price= 55,993.75*1.3

Selling price= $72,791.88

d)

First, we need to calculate the activities rate:

Maintenance= 210,000 / 10,000= $21 per machine hour

Materials handling= 90,000 / 2,000= $45 per material move

Setups= 75,000 / 100= $750 per setup

Inspection= 150,000 / 4,000= $37.5 per inspection

Now, we can allocate overhead:

Maintenance= 21*150= 3,150

Materials handling= 45*4= 180

Setups= 750*2= 1,500

Inspection= 37.5*3= 112.5

Total allocated costs= $4,942.5

8 0

2 years ago

The american recovery and reinvestment act of 2009 is a good example of ________ principles.

soldier1979 [14.2K]

The American healing and reinvestment act of 2009 is a good instance of fiscal policy.

Fiscal policy is the usage of government spending and taxation to persuade the financial system. Governments commonly use economic coverage to sell strong and sustainable increase and decrease poverty.

The 2 major examples of expansionary fiscal policy are tax cuts and accelerated government spending. each of those policies is meant to increase aggregate demand even as contributing to deficits or drawing down financial surpluses.

Fiscal coverage refers to the tax and spending guidelines of the federal government. fiscal coverage choices are determined via Congress and the administration; the Fed performs no role in determining economic policy. fiscal coverage is the use of authorities' spending and taxation to influence the economic system. Governments generally use financial policy to sell sturdy and sustainable increases and reduce poverty.

Fiscal coverage is the means by using which the authorities adjust their spending and revenue to persuade the broader economic system. by way of adjusting the stage of spending and tax sales, the authorities can affect the economic system by using either growing or decreasing financial activity in the brief time period.

Learn more about fiscal policy here:

brainly.com/question/6583917

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6 0

1 year ago