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Georgia [21]
3 years ago
7

Cheizza, a pizza vendor in the country of Wisbane, believes that the taste of fresh cheese in its pizzas is its unique selling p

oint. However, recently there has been a rise in the number of pizza vendors in Wisbane who have also started using fresh cheese to prepare their pizzas. This has led to a drastic increase in the demand for cheese. However, the amount of milk produced in the country is insufficient to meet the increased demand for cheese. In the context of changing environments, which of the following does this scenario best illustrate?
a.Resource scarcity.
b.Buyer dependence.
c.Discontinuous change.
d.Punctuated equilibrium.
Business
2 answers:
AlladinOne [14]3 years ago
6 0

Answer: Option (a) is correct.

Explanation:

Cheizza, a pizza vendor knows that the fresh cheese is the unique selling point for him. And because of this fresh cheese, the demand for his pizza is drastically increases. So, for meeting this demand, he have to purchase more cheese.

We know that cheese is made up from milk and milk is used as an input for the production of cheese. But milk is a raw material and limited in quantity to meet this demand.

Cheizza also knows that cheese is used in the pizzas, hence, if there is any changes in the supply of cheese, as a result it directly affects the demand for pizzas.

Therefore, there is a scarcity of resources in the form of milk.

kozerog [31]3 years ago
5 0

Answer:

The correct answer is letter "A": Resource scarcity.

Explanation:

Resource scarcity is the fundamental economic issue by which individuals have limitless desires and needs but depend on limited sources to meet them. Because of this scenario, individuals must trade-off the fulfillment of some desires, so that others can also be met.

In the example, <em>the scarce resource is the milk that is useful to produce cheese for the pizzas sold in Wisbane.</em>

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3 years ago
The most recent data from the annual balance sheets of Free Spirit Industries Corporation and LeBron Sports Equipment Corporatio
shutvik [7]

Answer:

Free Spirit Industries Corporation and LeBron Sports Equipment Corporation

1a. Free Spirit Industries Corporation’s current ratio is , and its quick ratio is 1.3337 : 1 and 0.7469 : 1 respectively.

1b. LeBron Sports Equipment Corporation’s current ratio is , and its quick ratio is 1.6596 : 1 and 0.9294 : 1 respectively.

2. True: Free Spirit Industries Corporation has less liquidity but also a greater reliance on outside cash flow to finance its short-term obligations than LeBron Sports Equipment Corporation.

3. True: A current ratio of 1 indicates that the book value of the company’s current assets is equal to the book value of its current liabilities.

4. True: An increase in the current ratio over time always means that the company’s liquidity position is improving.

Explanation:

a) Data:

Balance Sheet December 31st (Millions of dollars)

LeBron Sports Equipment Corporation   Free Spirit Industries Corporation

                             LeBron   Free Spirit                             LeBron   Free Spirit

Assets                                                        Liabilities

Current assets                                        Current liabilities

Cash                            $1,435      $922     Accounts payable         $0    $0

Accounts receivable      525         338      Accruals                       316      0

Inventories                   1,540         990      Notes payable          1,793   1,687

Total current assets $3,500   $2,250 Total current liabilities $2,109$1,687

Net fixed assets                                          Long-term bond      2,578 2,063

Net plant & equipment 2,750 2,750         Total debt             $4,687 $3,750

                                                                    Common equity

                                                                    Common stock     $1,016     $813

                                                                    Retained earnings   547       437

                                                            Total common equity $1,563  $1,250

Total assets      $6,250 $5,000 Total liabilities and equity$6,250 $5,000

b) Current Ratio and Quick Ratio:

Current Ratio = Current Assets/Current Liabilities

Quick Ratio = (Current Assets - Inventory)/Current Liabilities

1a. Free Spirit Industries Corporation’s current ratio is , and its quick ratio is

Current Ratio = $2,250 / $1,687 = 1.3337 : 1

Quick Ratio = ($2,250 - 990) / $1,687 = 0.7469 : 1

1b. LeBron Sports Equipment Corporation’s current ratio is , and its quick ratio is:

Current Ratio = $3,500 / $2,109 = 1.6596 : 1

Quick Ratio = $3,500 -1,540 / $2,109 = 0.9294 : 1

5 0
3 years ago
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Answer:

Opportunity cost of holding the money = $1.650

Explanation:

Opportunity cost is the value of the next best alternative sacrificed in favour of a decision.

The opportunity cost of holding the money is the interest on deposit that would be have been earned should it be invested at the savings rate.

Interest on savings deposit = interest rate × deposit

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Opportunity cost of holding the money = $1.650

3 0
3 years ago
Which of the following best describes a surplus?
muminat

Answer:

C. there is more supply than demand

Explanation:

surplus means extra so there's more in supply than demand

7 0
3 years ago
Read 2 more answers
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