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DiKsa [7]
3 years ago
14

Which of the following most accurately states the economic significance of exchange? a. Physical goods have value because they e

xist; exchange can neither increase nor decrease their value. b. Production of physical goods creates value; exchange merely redistributes this value. c. Exchange creates value by moving goods from parties who value them less to parties who value them more. d. Exchange reduces value since it consumes resources without adding to the physical supply of goods.
Business
1 answer:
Annette [7]3 years ago
6 0

Answer:

c. Exchange creates value by moving goods from parties who value them less to parties who value them more.

Explanation:

Exchange is described as the process of changing some goods for some other goods.

Exchange clearly provides you with the goods you value for, and in exchange for those goods you pay the goods you do not value.

This, results in adding value to the goods acquired by you, and adds value to the goods given by you for the person to whom it is exchanges.

As for example when a cloth is purchased by me for $100 then such adds the value to cloth and because it was worth less than $100 for the seller it has added value to the cloth.

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Why is it important to seek as much aid as possible through scholarships and grants?
SIZIF [17.4K]

Answer:

The correct answer is letter "B": They are both forms of free money that you will not need to pay back after you graduate.

Explanation:

One of the biggest benefits of grants and scholarships while financing your college expenses is the fact that the amount of money provided for school is not repaid. Compared to college loans that have high-interest rates, <em>there will not be a debt after finishing school</em> with grants and scholarships.

8 0
3 years ago
A law firm received $2,500 cash from a client for legal services to be rendered in the future. The full amount was credited to t
Savatey [412]

Answer:

D.

Revenues to be understated

Explanation:

Understated amounts indicate a reported amount is not correct and the reported amount is less than the true amount.

5 0
3 years ago
The emirates group has a workforce comprised of individuals with 160 different nationalities. Suppose that one individual is con
spin [16.1K]

The individual is being Ethnocentric.

Ethnocentrism, whether conscious or unconscious, is a term that applies to cultural or ethnic bias, where individuals see the world from the perspective of their own group and establish their own group as a prototype. And evaluate all other groups in relation to that ideal.

People with ethnocentrism judge other cultures by comparing them with their immediate culture. Ethnocentrism Americans may overlook the unique charm of any city in the world compared to New York City. If you use the standards of your own culture to judge another culture, you are ethnocentric.

"Ethnocentrism" is a commonly used word in circles where ethnicity, interethnic relationships, and similar intergroup issues are important. The usual definition of this term is "think your group is better than the other" or "decide that the other group is inferior to your group".

Learn more about Ethnocentric here: brainly.com/question/4458198

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8 0
2 years ago
Illinois​ Furniture, Inc., produces all types of office furniture. The​ "Executive Secretary" is a chair that has been designed
viktelen [127]

Answer:

hello your question is incomplete attached below is the missing table to your question

Illinois​ Furniture, Inc., produces all types of office furniture. The​ "Executive Secretary" is a chair that has been designed using ergonomics to provide comfort during long work hours. The chair sells for​ $130. There are 480 minutes available during the​ day, and the average daily demand has been 50 chairs. There are eight tasks

answer : a) 9.6 minutes

               b) 5 work stations

               c) choose initial task and task with maximum task time

               d) 21 minutes

Explanation:

A) cycle time for the production of a chair

cycle time = (production time available per day ) / ( unit demand per day )

                 = 480 minutes / 50 chairs

                 = 9.6 minutes ≈ 10 minutes

B) theoretical minimum number of workstations

    = Total task / cycle time

 where total task = (4 + 7 + 6 + 5 + 6 + 7 + 8 + 6 ) = 49 minutes

             cycle time = 9.6 minutes

hence theoretical minimum number of workstations = 49 / 9.6 = 5.1

 ≈ 5 workstations

C ) Assignment of tasks to workstations

      attached below

you will choose the initial/first task and also the task with maximum tax time

D) For the process the total idle time per cycle

total idle time = summation of all idle times for the 8 tasks = 21 minutes

Task A, C = 0 minutes

Task B = 3 minutes

Task E = 4 MINUTES

Task F = 3

Task G = 2

Task H = 4

Task D = 5

6 0
3 years ago
All else being equal, does elastic or inelastic demand curve result in higher social surplus? How does elasticity of supply affe
disa [49]

Answer:

An elastic demand curve will result in higher social surplus. Social surplus equals consumer surplus plus supplier surplus, or simply total surplus. The highest possible social surplus is reached at the equilibrium point.

If a product's demand is completely inelastic, the supplier can increase the price at will, reducing consumer surplus to minimum levels. If a product's demand is completely elastic, then consumer surplus increases while supplier surplus is directly related to shifts in the demand. Higher demand increases supplier surplus.

7 0
3 years ago
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