Answer:
An example of scarce source of production is "Labour"
Explanation:
An example of scarce source of production is "Labour"
Labour
This refers to the work done by those who contribute to the production processes. Many people not in paid employment also provide things that are needed by people. For example, a woman might not hold a job in order to raise her children and look after the home. Some people are more productive in the work place than others because they have different levels of education, training and experience. They are said to possess a greater amount of human capital. This implies that this factor can be enhanced in an economy through educational initiatives and investment in training.
Answer:
1. Supply will decrease
Explanation:
Due to the basic economic principle that when supply superceeds the demand for goods and services, the prices of such goods and services fall. As a result of this, and an expected increase in future prices, the supply of coffee beans by coffee merchants to the markets will decrease.
This is because the merchants want to receive higher profits and to do so, they will withhold supply to sell in the next six months when the price is higher.
Answer:
$100,000 and $241,000
Explanation:
The computation of the gross profit for the Black and Navy Divisions shown below:
As we know that
Gross profit = Sales - cost of goods sold
For Black, it would be
= $200,000 - $100,000
= $100,000
And, for Navy, it is
= $400,000 - $159,000
= $241,000
We simply applied the above formula to compute the gross profit
Answer:
No, contracts for personal services are not assignable.
Explanation:
According to a different source, these are the options that come with this question:
Yes, as long as the assignment does not increases the burden on Max.
Yes, Claire can assign her obligations under the contract to anyone who accepts.
No, contracts for personal services are not assignable.
No, the assignment is not valid since Max did not give any consideration.
This is most likely not a good strategy for this woman. The fact that this woman has been hired as a freelance web designer means thta the woman is beig paid for her professional expertise. No one else can perform the job in the way that she can perform it. Therefore, she cannot assign this duty to another person.
In a market economy, the factors of production are allocated by PRODUCERS AND CONSUMERS.
A market economy is a type of economy in which investment decisions about production and distribution of goods and services are based on the interplay of the forces of supply and demand which determine the prices of goods and services.
