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3 years ago

What are the three types of economic resources? Give an example of each type of resource.

2 answers:

8 0

"The three types of economic resources are also referred to as factors of production. Land (including all natural resources), Labor (including all human resources), Capital (including all man-made resources), and when you combine all of those you get production. "

BartSMP [9]3 years ago

8 0

The three types of economic resources and they are land, labor, and capital. Labor is what comes when humans work and produce items for their job. They are putting in labor hours to complete a task and getting compensated for it. Land is defined as natural resources. These resources are items that are just "there" for us to use, not man-made. The final is capital, capital are all items that are man-made resources. These items are a combination of other items to make a final good.

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3) What is the present value of $1000, received at the end of 4 years of investment, with a discount rate of 4%?

MA_775_DIABLO [31]

Answer:

$854.81

Explanation:

The formula for calculating the present value is as below

PV = FV/( 1 + r)^n

Where Fv =1000

r = 4% or 0.04

n= 6

PV = $1000/ (1 + 4/100)^4

PV=$1000/(1 + 0.04)^4

PV=$1000/1.16985

PV =$854.81

8 0

2 years ago

Read 2 more answers

How should a person cope with situational factor for which there are ethical confident skills?

ipn [44]

Self-confidence is considered one of the most influential motivators and regulators of behavior in people's everyday lives (Bandura, 1986). A growing body of evidence suggests that one's perception of ability or self-confidence is the central mediating construct of achievement strivings (e.g., Bandura, 1977; Ericsson et al., 1993; Harter, 1978; Kuhl, 1992; Nicholls, 1984). Ericsson and his colleagues have taken the position that the major influence in the acquisition of expert performance is the confidence and motivation to persist in deliberate practice for a minimum of 10 years.

Self-confidence is not a motivational perspective by itself. It is a judgment about capabilities for accomplishment of some goal, and, therefore, must be considered within a broader conceptualization of motivation that provides the goal context. Kanfer (1990a) provides an example of one cognitively based framework of motivation for such a discussion. She suggests that motivation is composed of two components: goal choice and self-regulation. Self-regulation, in turn, consists of three related sets of activities: self-monitoring, self-evaluation, and self-reactions. Self-monitoring provides information about current performance, which is then evaluated by comparing that performance with one's goal. The comparison between performance and goal results in two distinct types of self-reactions: self-satisfaction or -dissatisfaction and self-confidence expectations. Satisfaction or dissatisfaction is an affective response to past actions; self-confidence expectations are judgments about one's future capabilities to attain one's goal. This framework allows a discussion of self-confidence as it relates to a number of motivational processes, including setting goals and causal attributions.

7 0

3 years ago

Essman might overlook strategic risks, the business plan at hand can be a good plan and the Product mix may be one of the best.

WITCHER [35]

Risk retention is good for the company as the good has the better strategies planned about the product mix and if the things changed in the future the company is able to conquer the loss.

<h3>What is product mix?</h3>

Product mix is the total number of products sell by the particular company, the products can be further divided into the categories and division. Many big companies have the different line products like the cosmetics, glasses, home materials and others.

Thus, Risk retention is good for the company as the good has the better strategies

For more details about Product mix, click here:

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6 0

1 year ago

Roadway Corporation produces a special line of plastic toy racing cars. Roadway Corporation , produces the cars in batches. To m

r-ruslan [8.4K]

Answer:

the efficiency variance for variable overhead setup costs is $4,810 favorable

Explanation:

The computation of the efficiency variance for variable overhead setup costs is shown below;

= ((15,700 ÷ 265) × 4.25) × $45 - ((15,700 ÷ 325) × 3) × $45

= $11,330.6604 - $6,521.5384

= $4,809.12 favorable

= $4,810 favorable

hence, the efficiency variance for variable overhead setup costs is $4,810 favorable

4 0

3 years ago

Tarrant Corporation was organized this year to operate a financial consulting business. The charter authorized the following sto

algol [13]

Answer:

Find the requirement below:

1. Prepare the journal entries required to record the sale of common stock in (a) and (b). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

2. Prepare the stockholders’ equity section as it should be reported on the year-end balance sheet. (Amounts to be deducted should be indicated by a minus sign.)

First issue of shares:

Dr Cash $197,200

Cr Common stock $98,600

Cr Paid-in capital in excess of par $98,600

Second issue of shares:

Dr Cash $85,800

Cr Common stock $37,400

Cr Paid-in capital in excess of par $48,400

Shareholders equity section:

Common stock ($98,600+$37,400) $136,000

Paid in capital ($98,600+$48,400) $147,000

Retained earnings $7,300

Total shareholders' equity $290,300

Explanation:

First issue of shares:

cash proceeds 5,800*$34=$197,200.00

split into common stock $17*5,800=$98,600.00

paid-in capital in excess of par ($197,200-$98,600)= $98,600.00

second issue of shares:

cash proceeds 2,200*$39=$ 85,800.00

split into common stock $17*2200=$ 37,400.00

paid-in capital in excess of par ($85,800-$37,400)= $48,400.00

4 0

3 years ago