The following statements describe the economic concept of scarcity:
1. All useful resources are limited.
2.Resources are scarce which explain why we are willing to pay for them.
3. Because of scarcity, individuals must make choices.
In economics, scarcity is the study of how people attempt to satisfy their needs and wants by making choices. The principle of scarcity states that limited goods and services are available to meet unlimited wants.
Answer:
a.
Explanation:
Based on the information provided within the question it can be said that this is an example of Customer relationship management (CRM). This is an approach to management in which the company uses data from a customer's history in order to improve the business relationships with the customer. Since the catalogs are customized based on what the customer's need or likes.
Answer: increase asset
Explanation:
Cash basis accounting is an accounting method that is used to records revenue as at the point that the cash is received. Also, the expenses are recorded when expenses are paid in cash.
From the question, we are informed that a corporation received $550 from a customer as a deposit and the company uses cash basis accounting. The effect of this transaction is to increase assets.
Answer:
Guile
Explanation:
Guile is associated with a person who is crafty or understands right/wrong behavior but uses tricks to obtain an unfair advantage.
For instance, you have an urgent appointment such as a meeting with a business partner but you chose to deceitfully distract him from the fact that you are already lagging behind schedule (time) by telling a joke or mind blowing story. This is typically an example of Guile.