Scarcity is how common or rare a specific resource or service is. This is one of the largest driving points in price and availability.
Products and services that are scarce, yet in high demand will fetch a high price. In contrast, a scarce product or service that has low demand will fetch a low price.As scarcity and demand increase, price goes up. As scarcity and demand decrease, price goes down.
To conclude, scarcity is one of the most influential variables in economics.
Answer:
D) Credit paid in capital in excess of par on common, $400
Explanation:
The summary journal entry should be:
Dr Cash 1,200
Cr Common stock 800
Cr Additional paid-in capital in excess of par value 400
the subscriber paid $1,200 / $15 per stock = 80 stocks
par value = $10 per stock x 80 stocks = $800
additional paid-in capital = $5 per stock x 80 stocks = $400
Answer: Option(b) is correct.
Explanation:
Correct option: Whether consumers care about fairness when they make decisions.
The Ultimatum game and the dictator game economists generally used to know the fairness and the economic behavior of the consumers.
The dictator game is a derivative of the ultimatum game.
From these two games it was seen that consumers firstly thinks about their own payoff and split the amount in an unequal ratio.
In the ultimatum game, a sum of money will be given to a person and asked him to split the amount with the other person. If the other person accepts his offer then they both get the decided amount and if the other person rejects his offer then they both get nothing.
This gives us the consumers preferences, economic behavior or whether they care about the fairness or not.
Answer:
The correct answer is letter "A" and "C": Your name will be automatically entered in the raffle if you attend the annual company BBQ; Your satisfaction is important to us. Please complete the customer satisfaction survey.
Explanation:
Marketing uses different types of messages to reach consumers effectively. In some cases, it is necessary to convert noun phrases into the subjects of the sentence to emphasize the importance of the audience. For instance, the noun phrase "<em>your satisfaction</em>" or "<em>your name</em>" play the role of the subject in the following segments where calling the attention of customers is needed. This practice is seen in:
- <em>Your name will be automatically entered in the raffle if you attend the annual company BBQ.
</em>
- <em>Your satisfaction is important to us. Please complete the customer satisfaction survey.</em>
Answer:
The package of shoes and carryalls based on the sales mix expected for the coming year is:
= 4:1
Explanation:
a) This means for every 4 shoes, there is 1 carryall.
b) Data:
Company-wide Fixed costs = $91,500
Unit price of a pair of shoes = $60
The variable cost = $21
This gives a contribution to the fixed cost = $39 ($60 - $21) per unit
Unit price of carryalls = $36
The variable of carryalls = $9
This gives a contribution to the fixed cost = $27 ($36 - $9) per unit
Estimated quantity of pairs of shoes to be sold next year = 3,500
Estimated quantity of carryalls to be sold next year = 875
The ratio of shoes to carryalls = 3,500:875
= 3,500/875
= 4:1
The sales mix for Chillmax Company refers to the proportion of the company's total sales for each type of product sold (pairs of shoes and carryalls).
