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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

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Exercise 15-2 On January 1, 2017, Klosterman Company issued $420,000, 12%, 10-year bonds at face value. Interest is payable annu
Maslowich

Answer:

The journal entry to record the bond issuance is shown below:

Explanation:

The journal entry to record the bond issuance is as:

Cash A/c.............................................Dr  $420,000

        Bonds Payable A/c......................Cr  $420,000

Being the bonds issued

As the bonds are issued by the company so cash is coming into the business, which is an asset and any increase in asset is debited. Therefore, the cash account is debited. And cash is received against the bonds payable, so the account of bonds payable is credited.

6 0
4 years ago
Which of the following statements about conflict is most accurate? Conflict generally occurs between competitive individuals and
MAVERICK [17]

The correct answer is B. Conflict is a normal part of everyday workplace.

Explanation

Conflict is the term to refer to the situation in which two or more people disagree on any matter, that is, they have different points of view on the same thing and neither of them gives in or agrees to negotiate mediation on such matters. affair. This is due to the diversity of likes, thoughts, beliefs, preferences of people that influence their actions in daily life. According to the above, in a workplace, it is very common to find conflict situations because different people are working on the same issues and each one has specific considerations of how it would be better to do things; however, this does is not necessarily negative or reduces productivity; indeed, conflict can lead to negotiation, cooperation and new ideas. So, the correct answer is B. Conflict is a normal part of everyday workplace.

5 0
3 years ago
Before a firm is allowed access to the European marketplace, the European Union requires that the quality of the firm’s manufact
Eduardwww [97]

Answer:

ISO 9000

Explanation:

In this question, the quality of standard being mentioned is known as the ISO 9000. This is a set of standards that helps organizations make sure that they are meeting the customer and shareholder needs as well as complying to the statutory and regulatory requirements that exist regarding the product or service. This is the main quality of standards that are enforced and required by the European Union for every firm in its marketplace.

3 0
3 years ago
You have just purchased a car and, to fund the purchase, you borrowed $25,000. If your monthly payments are $402.18 for the next
Naya [18.7K]

Answer:

E) 4.96%

Explanation:

The computation of the APR could be determined by applying the RATE formula i.e. shown below:

Given that

PMT = $402.18

Present value = $25,000

NPER = 6 × 12 = 72

FUture value = $0

The formula is shown below:

=RATE(NPER;PMT;-PV;FV;TYPE)

After applying the above formula, the annual percentage rate of the loan is

= 0.4135%  × 12

= 4.96%

hence, the correct option is E.

4 0
3 years ago
Big Johnson Products charges Moe's Meats a lower price for goods because Moe and Johnson play golf together regularly. Big Johns
artcher [175]

Answer:

Option A is correct,price discrimination

Explanation:

Price discrimination is charging different customers different prices in the same or different markets.

There are laws that frown against price discrimination in order to ensure fairness in business dealings and to ensure the activities of price discriminator does have negative effects on consumers or businesses that rely on the price discriminator for inputs.

A typical example of price discrimination is financial aid which is common with online courses,where certain people due to their peculiarities are offered financial  assistance in their bid to study that is available to some other students.

8 0
3 years ago
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