The study that tells about the production, usage and distribution of goods and services among the people of the nation is called the economy.
<h3>What is production?</h3>
Production is the process of making finished goods by converting them from its raw materials.
- Economy is referring to the study that describes the manufacturing, consumption and distribution of the goods and services among the citizens of the country. The field which studied about economy is called Economics.
- It could be inclusive of customers, business firms and the government. The customers are the ones who acquire the goods for satisfying his/her wants.
- The business houses are the entities that made the goods and then make it available in the market for sale to the customers. The government is the authority who regulate the equal distribution of goods to each and every people of the country.
Therefore, the economy is briefly explained above.
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Answer:
D. Food Preparation Sink
Explanation:
You are correct! Must wash hands always at the PROPER place, when handling food.
Answer: The correct answer is C. The value of the best alternative that is given up in order to do or get something.
Explanation: Opportunity cost literally means alternative thing forgone - meaning what is given up to get something <em>(sacrifice</em>). It is a concept used by economists to allocate limited resources for production, consumption, distribution and exchange of goods and services. Production of goods or services entails the creation of value. In other words, it gives a more understanding on how limited resources are allocated in order to satisfy the human insatiable desires.
For example, a student may be constrained with limited amount of pocket money, say $100 and the student wants to buy textbooks that cost $10 each or go for different outings going for $20 each. In this scenario, the student has different options: a) buy 10 textbooks and 0 outing b) buy 8 textbooks and a outing c) 6 textbooks and two outings d) 4 textbooks and three outings e) 0 textbooks and five outings. For the student to have any more of the other, he has to give up the other unit. What is given up is called opportunity cost.
Answer:
Communication
Explanation:
Communication is the exchange and flow of information and ideas from one person to another; it involves a sender transmitting an idea, information, or feeling to a receiver
Answer:
Debit Office Furniture account $710
Credit Cash account $170
Credit Accounts payable $710
Being entries to recognize office furniture partly paid for.
Explanation:
When items are purchased using cash, the corresponding credits in such transactions are recorded in the cash account. Where the item is purchased on account (or credit), the credit is posted to accounts payable.
Total worth of the office furniture = $170 + $540 = $710
The total debit for this will be recorded in the office furniture account.
Hence to recognize the transaction,
Debit Office Furniture account $710
Credit Cash account $170
Credit Accounts payable $710
Being entries to recognize office furniture partly paid for.
