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Slav-nsk [51]
3 years ago
12

Given that resources are scarce, Multiple Choice 1. A "free lunch" is possible, but only for a limited number of people. 2. Oppo

rtunity costs are experienced whenever choices are made. 3. Poor countries must make choices, but rich countries with abundant resources do not have to make choices. 4. Some choices involve opportunity costs while other choices do not.
Business
1 answer:
Semmy [17]3 years ago
5 0

Answer:

Opportunity cost are experienced whenever choices are made

Explanation:

Scarce resources means the shortage or unavailability of resources required for production of goods and services . In fact economists believe that all resources are scarce because of the limit to the availability of factors of production involved in the production.

To manage scarcity , economist came up with the principle of opportunity cost.

Opportunity cost is the cost of the alternative forgone while making a choice.

This means that as a man may not be able to meet up with all his needs due to scarcity of resources , he will need to select the ones that are of utmost importance and forgo the other needs on the list , whichis the opportunity cost of the transaction.

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When Larry purchased a Jet Ski personal watercraft for $4,999, he was also given free financing and three hours of free lessons
stellarik [79]

Answer:

Value added

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Value-added - it is the total difference that comes out between the product value in the market and the cost of producing that product. cost of a product is based on the survey which gives the idea that how much cost may be assigned to the product.

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3 years ago
A shift in the demand curve can be caused by a change in one of the determinants of demand.
Dominik [7]

Answer:

A- A change in the technology used by firms.

Explanation:

A change in technology can affect the demand of products and services.  It can lead to the increased demand for a certain product, reducing the demand for an older product.

With the use of technology to upgrade products and services, demand curves will continually shift, according to preferences of customers.

Technology could be used by firms to produce upgrades and newer variations of products at more favorable prices for customers  than existing products. This leads to competition and the demand for the newer device goes up since people see the new product as 'getting more for less'. A good example is computers and tablets. Tablets which could match up with the work of computers were produced at lower prices. This shifted the demand towards tablets, making computers more obsolete.

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2 years ago
Also, national saving is the income of the nation that is left after paying for . Therefore, national saving (S) is defined as:
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National saving is the nation's income that is left after paying for current consumption and government purchases, that is S = Y-C-G.

What is national saving?

National saving (saving) is the portion of the economy's total income that is left over after paying for consumption and government expenditures. individual saving the amount of money that households have after paying for expenses like taxes and expenditures.

How does national savings affect our economic growth?

Larger investments resulting from stronger GDP growth would be produced by an increase in overall savings. The high savings rates have the effect of increasing capital and boosting the nation's economic growth.

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The cartesian coordinate system is also referred to as a(n) _____________ coordinate system.
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The Cartesian coordinate system is also referred to as a <span><span>rectangular <span>coordinate system</span></span> coordinate system. It i a system used in geometry which uses coordinates in order to determine the position of a geometric element (point for example). According to this system each point is specified by a pair of numerical coordinates. </span>

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2 years ago
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