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3 years ago

2. Distinguish between economic and non-economic wants.

Business

1 answer:

bulgar [2K]3 years ago

4 0

Answer:

Difference among the economic wants and the non- economic wants is shown below:

Explanation:

Wants is the term which is described as the desires for the things that the person or an individual may or may not actually require or needed.

a. Economic wants

1. Economic wants are those wants which generally known as the desires and are usually satisfied or fulfilled after taking or consuming he service, goods or in other cases leisure.

2. Economic wants is spending money in order to satisfy the want or the desire.

b. Non - economic wants

1. Non- economic wants are those wants which are generally the human needs, that is required or needed to be satisfied without involve the monetary cost or the value.

2. It might involve the water, air.

3. These are those wants that could be fulfilled without spending the money.

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3 years ago

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FrozenT [24]

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2 years ago

The opportunity cost of an action: Group of answer choices can be determined by considering both the benefits that flow from as

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Answer:

The action of opportunity cost is that is the subjective measurement which could be determined only through the individual, who selects the action.

Explanation:

Opportunity cost is the cost or an expense or the value of the next best possible thing which the person or an individual gave up whenever make or take a decision.

In short, it is the loss of the gain that is potential from the other alternatives which are available when an individual or person selects the alternative.

Therefore, the action of the opportunity cost is the cost which is the subjective measure, that could be determined only through individual, who selects the action.

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3 years ago

William Brown, the CFO of Oriole Automotive, Inc., is putting together this year's financial statements. He has gathered the fol

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Answer:

$169,521

Explanation:

The computation of long-term debt is shown below:-

Total asset = Cash + Inventory + Goodwill + Net plant and equipment + Receivables + Current assets

= $23,015 + $213,100 + $78,656 + $710,100 + $141,258 + $11,223

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= $169,521

Hence, we have applied the above formula for determining the long term debt.

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3 years ago

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"what is south korea's opportunity cost of producing one digital camera?"

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3 years ago