1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
mr Goodwill [35]
3 years ago
15

What is scarcity, as a term used in economics? What is an every day example of scarcity that demonstrates why scarcity is a basi

c economic problem that faces every society.
Business
1 answer:
kirill115 [55]3 years ago
5 0

Answer:

Scarcity refers to the basic economic problem, the gap between limited – that is, scarce – resources and theoretically limitless wants. ... Any resource that has a non-zero cost to consume is scarce to some degree, but what matters in practice is relative scarcity

Scarcity dictates that economic decisions must be made regularly in order to manage the availability of resources to meet human needs. Some examples of scarcity include: The gasoline shortage in the 1970's. ... Coal is used to create energy; the limited amount of this resource that can be mined is an example of scarcity.

Explanation:

HOPE it helps

You might be interested in
Non-toxic-toys currently has $400,000 of equity and is planning a $160,000 expansion to meet increasing demand for its product.
Rashid [163]

Answer:

1. $100,000 and 25%

2. $137,200 and 34.3%

3. $150,000 and 27%

Explanation:

1. It does not expand

    a. Net income= $100,000 (as given in the question)

    b. Return on equity= (net income)/(shareholder’s equity)

Shareholder’s equity= $400,000

Thus return on equity= 100000/400000 = 0.25  or 25%

2. It expands and issue $160,000 in debt

    a. Net income= $100000 + 50000 –  12800 (debt interest 8% of     $160000)

= $137,200

b. Return on equity= (net income)/(shareholder’s equity)

= 137200/400000

=0.343  or 34.3%

3. It expands and raises equity of $160000

a. Net Income= $100000 + 50000

= $150000

b. Return on equity= (net income)/(shareholder’s equity)

= 150000/(400000 + 160000)

Where ($560,000) 400000 + 160000 is shareholder’s equity

= 0.27 or 27%

5 0
3 years ago
Montana company was authorized to issue 125,000 shares of common stock. the company had issued 54,000 shares of stock when it pu
ycow [4]
Do you have Any answer choices
4 0
3 years ago
Types of Economic Data For each of the following e whether the data are cross-section, time series or panel data. (a) Quarterly
Nitella [24]

Answer:

A. Time series

B. Cross Sectional

C. Panel

D.  Cross Sectional

Explanation:

(a) Quarterly data on the level of U.S. new housing construction from 2000 to 2018, Time series data, numerical

(b) Data on number of doctor visits in 2018 for a sample of 192 individuals. Cross sectional data, numerical

(c) Data on annual health expenditures for each U.S. state from 2000 to 2018. Panel Data, Numerical

(d) Data on usual mode of transportation used to commute to work for a sample of 151 individuals. Categorical

3 0
3 years ago
. Discuss and Implement the Price Adjustment Strategies in current market. Apply each strategy with 3 examples along with pictur
astra-53 [7]

Answer:

There are many different price adjustment strategies which can be implemented in the current market.

Explanation:

Psychological pricing:

Psychological pricing is a strategy in which the price of a product is displayed with mostly one cent difference so the whole number shown is less by $1 and this difference can get higher if the price of the product is more.

Example 1: The price for a toy in a toy shop is $4.99, if rounded this will be $5 but the whole number visible is $4.

Example 2: The price of a laptop is $193, this again is nearly $200 but the price is reduced by $7 in order to influence their customers into buying the product.

Example 3: The price of a car is $35,995, this again is about $36,000 but the buyer may be influenced by this technique and result in purchasing the product with such price.

Geographical Pricing:

Geographical pricing is a strategy where different prices are charged in different outlets, this strategy is made keeping in mind the purchasing power of the locality, if the local people can pay higher price for a product then the price is high there but same product may have a lower price in an area where people can not pay high price.

Example 1: Price of a T-shirt is $15 in a posh area while the price of the same T-shirt is $5 in an area with poor locality.

Example 2: Price of a hair brush is $10 in a poor area while the same brush is available in a posh area at a rate of $35.

Example 3: Price for a food item is $6 in a restaurant in posh area while the same burger is available for $3 in a restaurant in a poor area.

7 0
3 years ago
What are some similarities and differences between Home Depot, Target, and Petsmart?
evablogger [386]

Answer:

They all are stores and having customers and sell products but a difference is they sell different things like pet food and wood power tools

7 0
3 years ago
Other questions:
  • PLEASE HELP!!!!! Nicholas starts a taxi cab business. He buys a garage, hires three drivers, buys two taxi-cabs, he sends his ca
    12·1 answer
  • You find that you have significatantly overcharged one of your clients. The error was discoverd by you when you recieved payment
    14·1 answer
  • If a company that is in a 35 % tax bracket invests in assets that increase its depreciation expense by $ 562 per year, its chang
    12·1 answer
  • Murphy Printers ​(MP) manufactures printers. Assume that MP recently paid $ 500 comma 000 for a patent on a new laser printer. A
    10·1 answer
  • Suppose that disposable income is $1,000, consumption is $700, and the marginal propensity to consume (MPC) is 0.6. If disposabl
    5·1 answer
  • Which of the following is consistent with the law of​ demand?
    6·1 answer
  • Western company begins the year with $50,000 of inventory on hand. During 2018, western purchases additional inventory for $100,
    14·1 answer
  • What is the value of $1000 par value 8 3/8% Marriott Corporation bond for the for each of the following required rates of return
    13·1 answer
  • Alex is a member of Government Accounting Standard Body (GASB). This accounting body is not a government entity. GASB has been f
    15·1 answer
  • What is equilibrium wage?
    7·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!