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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 <em>trade-offs</em> implying part of their needs must be sacrificed so other needs can be covered. Thus, <em>we could say that there is no country able to produce enough products to satisfy everyone's wants.</em>

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Wendy leaves her job as a dancer to start her own dance studio. As a dancer, she made $34,000 per year. During the studio's firs

brilliants [131]

Answer:

$8,884

Explanation:

The computation of the economic profit is shown below:

= Received amount - dance earnings - insurance paid - music and licensing fees - boom box - rent and utilities

= $60,480 - $34,000 - $4,300 - $1,846 - $150 - $11,300

= $8,884

The economic profit is come from subtracting the explicit cost, implicit cost from the revenue earned and the same is reflected above

4 0

3 years ago

Which bric country has a retail environment still dominated by millions of small stores and lacks modern supply chain management

Artyom0805 [142]

India still has a retail landscape that is dominated by millions of small retailers.

<h3>Each of the BRIC nations is regarded as a possible prospect for global expansion, but why?</h3>

Brazil has become a contender on the international stage thanks to its capacity to survive and even prosper during the most recent economic storm. Russia's economy has had numerous ups and downs.

<h3>Why do many American businesses start their efforts at worldwide expansion through exporting?</h3>

When they receive an order from a client in another nation, many American businesses start to expand internationally. Historically, the American market has been large enough for American businesses to focus solely on satisfying domestic Demand.

To Know more about India

brainly.com/question/3612980

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4 0

9 months ago

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Andrei [34K]

Answer: Originally he planned to paint his apartment

Explanation: The loss of other alternatives when one alternative is chosen is what we call opportunity cost. opportunity cost Is when an option is chosen from alternatives, the opportunity cost is the "cost" incurred by not enjoying the benefit associated with the best alternative choice. In a simple term, Opportunity cost is an economics term that refers to the value of what you have to give up in order to choose something else.

5 0

2 years ago

Dicer uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (ret

mestny [16]

Answer:

$371,228

Explanation:

Cost = Beginning inventory + purchases + freight

= $260,000 + $1,370,000 + $86,000

= $1,716,000

Retail = Beginning inventory + purchases + mark-up

= $396,000 + $2,200,000 + $48,000

= $2,644,000

Closing (retail) = Retail - markdown - sales

= $2,644,000 - $72,000 - $2,000,000

= $572,000

Cost to retail ratio = Cost ÷ Retail

= $1,716,000 ÷ $2,644,000

= 0.649017

Therefore,

Ending inventory value at cost = Closing (retail) × Cost to retail ratio

= $572,000 × 0.649

= $371,228

8 0

3 years ago

Why strategic evaluation and control is a waste of time

d1i1m1o1n [39]

Answer:

strategic takes a long time, its like long division in math. Control, you cant control most things unless ur a big person in a company/buisiness.

Explanation:

8 0

3 years ago