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3 years ago

Which activity does economics primarily study?

Business

1 answer:

SashulF [63]3 years ago

3 0

Answer:

c. best utilization of scarce resources

Explanation:

Economics is the study of how society uses its scarce resources to meet the insatiable needs of its members. Resources are the inputs that a county uses to produce goods and services. They are the four factors of production.

Human needs are unlimited and cannot be satisfied with the available scarce resources, necessitating human beings to make choices. Economics will involve analyzing production decisions amidst limited resources. It also analyses how the goods produced are distributed to satisfy the different needs and wants of its members.

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What is local technology

Andrei [34K]

Local Technology is an IT services company focused on building businesses through leveraging the best technology solutions.

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2 years ago

The only deposits of a rare and sought-after mineral known as ursarite are found in Russia. Since no other nation has deposits o

fomenos

Answer: Russia has an absolute advantage in the mineral.

Explanation:

Absolute advantage is an economics term that means to the ability of an individual, firm, or nation to manufacture a larger quantity of a product than its competitors.

Adam Smith proposed absolute advantage of absolute advantage in international trade by using only labor as the input. Absolute advantage is derived by comparing labour productiveness between countries.

Russia has an absolute advantage because it's the nation that can produce the highest amount.

4 0

3 years ago

A correlation coefficient shows that alcohol consumption and driving accidents are indeed related. as a result, a researcher cou

weeeeeb [17]

I believe the answer is: the number of driving accidents a person has will go up or down based on the number of alcoholic drinks consumed

Consuming alcohol would impair the overall function of your brain. This would make your reflex time become significantly slower compared to your capability before consuming the alcohol. Because of this slower reaction, the risk of being involved in driving accidents would also be increased.

5 0

3 years ago

The following lots of Commodity Z were available for sale during the year.

quester [9]

Answer:

The year end closing inventory is $1256

Explanation:

The LIFO or Last In First Out method of inventory valuation follows that the latest or last purchased inventory will be the one that is sold first. Thus, under this method, the inventory that is purchased at start will be the one that will be left at the end and will form up the ending inventory.

The ending inventory of 24 units means that these units will comprise of inventory from the beginning of the period.

Thus, out of these 24 units, 8 units will be from the beginning inventory and the remaining from the first purchase (24 - 8 = 16).

The cost of ending inventory will be,

8 units at $49 per unit = $392

16 units at $54 per unit = $864

The total amount of closing inventory is = 392 + 864 = $1256

5 0

3 years ago

The Easton manufacturing Company is looking to replace its conveyor belt system. A new system will cost $345,000, and will resul

iogann1982 [59]

Answer:

It will take 3 years and 279 days to cover for the initial investment.

Explanation:

Giving the following information:

Initial investment= $345,000

Annual cost saving:

Cf1= $220,000

Cf2 to 4= $100,000

Discount rate= 9%

<u>The payback period is the time required to cover for the initial investment:</u>

Year 1= (220,000/1.09) - 345,000= -143,165.14

Year 2= (100,000/1.09^2) - 143,165.14= -58,997.14

Year 3= (100,000/1.09^3) - 58,997.14= 18,221.21

<u>To be more accurate:</u>

(58,997.14/77,218.35)*365= 279 days

It will take 3 years and 279 days to cover for the initial investment.

7 0

3 years ago