Answer:
It is not efficiently using all of its resources.
Explanation:
PPC is the graphical representation of product combinations that an economy can produce, given resources & technology.
- Points on PPC reflect the best potential production of economy, by best efficient utilisation of available resources & technology.
- Any point under PPC reflects production under best potential of economy, by inefficient utilisation of resources.
- Points beyond PPC are unattainable, unless growth in either resources/ technology shifts the PPC curve outwards.
The answer to the question relates to the concept of primary and secondary group. <em>Primary group </em>is a small social group where members share personal relationships that are generally enduring while <em>secondary groups </em>are large groups where relationships are temporary, impersonal, and goal-oriented.
The relationship between Monique and Zhong start off as members of a secondary group, which is their company. When they met in a company party and eventually dated each other, they become members of a primary group, which is a couple.
In the United States alone, $16 billion of products and services are traded every year without any money changing hands in a practice referred to as Barter transactions account .
- A barter exchange account is handled as an asset account and the revenue from bartering is treated as income in a typical journal entry.
- In the aforementioned scenario, barter income would be credited with $100 and the barter exchange account would be debited with $100.
- A barter exchange is a group of people or businesses that have decided to swap goods or services without taking payment in cash.
- Disadvantages are that bartering frequently requires much time and hassle and that goods are often not readily divisible, meaning that swapped goods have to be basically equal in value if a trade is to occur.
What are barter accounts?
- A barter exchange operates as a broker and bank in which each participating member has an account that is debited when purchases are made, and credited when sales are made.
- Compared to one-to-one bartering, concerns over unequal exchanges are reduced in a barter exchange.
Learn more about barter accounts brainly.com/question/23967562
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Answer:
The student must purchase the number of items in which the price exceeds the ability of the student to pay.
<em>The number of bags he will purchase at the price of $4, is 2, because the willingness to purchase is $4.
</em>
The solution is therefore 2 sachets of jelly beans.
Whenever the student eats 2 bags of jelly beans at $4, the consumer surplus is determined as follows;
<em>Consumer Surplus</em>
<em>= ($5-$4) + ($4-$4)</em>
<em>= $1.</em>
