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solniwko [45]
3 years ago
12

In 1-2 sentences, explain why scarcity exists.

Business
1 answer:
prohojiy [21]3 years ago
3 0
Scarcity refers to a state of being in short supply.

Scarcity exists because distribution of resources is unequal. Majority of the people tend to get more than they need in preparation for future uses. They did not take into consideration that other people also need the items they have stocked up on. This results to unequal distribution of resources. Those who had first access to the goods have more than they need while those who came last have goods that is not enough to sustain their needs. They are the ones experiencing scarcity.

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BruceCo is planning on selling backpacks for $100 each. The company can buy the backpacks for $30.00 and have them customized fo
Evgen [1.6K]

Answer: BruceCo would have to sell 220 backpacks

Explanation: The projection of a $10,000 profit can be calculated properly by the equation;

Revenue - Cost = Profit

There is a one-time set up charge of 1000 and this is a fixed cost (as it does not change regardless of how many units they eventually sell). Also they would be spending $30 to buy each unit and still spend $20 to customize each. So each unit would cost $50 to acquire. If they plan on selling each unit at the rate of $100, then the total revenue would be 100 times X (where X is the number of units sold). Therefore the profit can be better projected by the equation;

Revenue - Cost = Profit

100X - (50X + 1000) = 10000

100X -50X - 1000 = 10000

50X = 10000 + 1000

50X = 11000

Divide both sides of the equation by 50

X = 220

Therefore, BruceCo must sell 220 units (at least) in order to meet a $10,000 profit projection

4 0
3 years ago
Selecting a base year and expressing each amount as a percent of the base year amount is called:
Sliva [168]

The process of selecting a base year and expressing the amount as a percent of the base year amount is referred to as trend analysis. Percentage change can be calculated between two periods or over a longer period of time.

Percentage change between two periods:

<span> Subtract the earlier year from the later year. A negative difference means the change is a decrease. A positive difference means it is an increase. Then divide the change by the earlier year's balance. </span>

Percentage change over a longer period of time:

<span>1.    </span>Select the base year.

<span>2.    </span><span>Divide the amount in each nonbase year (for each line item) by the amount in the base year and multiply by 100.</span>

4 0
3 years ago
Under the Uniform Limited Liability Company Act (ULLCA), managers in a manager-managed LLC owe fiduciary duties, such as the dut
Ivahew [28]

Answer:

True

Explanation:

The reason is that all the management owe fiduciary duties towards the shareholders and the corporation as well because the managers are acting as an agent and their principal is shareholders are principal so the agent must act in the best interest of the principal and shareholder's best interest here is long term success of the company with no fraudulent activities in the company. This law protects the shareholders by stating that management owe fiduciary duty to shareholders which is a true statement.

4 0
3 years ago
Read 2 more answers
Which is an advantage corporations enjoy over partnerships?
Trava [24]
<span>The owners of a corporation don't have to work together to make all of the business decisions.

</span>An advantage of corporations enjoy over partnerships is that the owners of a corporation don't have to work together to make all of the business decisions, while this is true for partnership. Partnership<span> generally has more money to invest in starting or expanding a business.</span>
3 0
3 years ago
Public Good Contribution: Three players live in a town, and each can choose to contribute to fund a streetlamp. The value of hav
givi [52]

Answer:

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Explanation:

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