<span>I believe the answer for you question would be life-cycle</span>
In most societies, resources are allocated by the combined action of millions of households and firms.
Resources are very important to setup and build societies. Resources are scare and this is the reason why societies and households faces many decisions. How societies manage scare resources, we study this in economics.
Answer:
$5,400
Explanation:
Calculation to determine the estimated average income
Using this formula
Estimated average income=Expected total income yield/Useful life
Let plug in the formula
Estimated average income= $21,600 ÷ 4
Estimated average income= $5,400
Therefore the estimated average income is $5,400
Answer:
C) The theory of Comparative Advantage
Explanation:
The theory of Comparative Advantage is a theory of international trade and it comes into effect in a situation where the <u>opportunity cost of producing a good or offering by a service by a country is lower than that of other countries. </u>
Specifically, to understand the theory of comparative advantage the opportunity cost of production or offering a service has to be measured in terms of the trade off between those countries. It simply means when a country has the comparative advantage then it derives more benefits from other countries buying its products as compared to buying their products and vice versa.
In the question, the European Union has the Comparative advantage over South Africa because the trade-off between buying South Africa's edible fruits and nuts and selling other products to South Africa benefits the European countries.
European countries derive more benefits because South Africa buys their goods at a cost higher than it takes them to produce while they buy at the normal cost from South Africa. The <u>trade-off benefits Europe </u>
Answer:
The finance charge on the September 10 bill is $5.08.
Explanation:
Note: See the attached excel file for the calculation of the sum of total amount owed each day (in bold red color).
From the attached excel file, we have:
Sum of total amount owed each day = $11,675
Average daily balance = Sum of total amount owed each day / Number of days in the billing period = $11,675 / 31 = $376.61
Finance charge = Average daily balance * Interest rate per month = $376.61 * 1.35% = $5.08
Therefore, the finance charge on the September 10 bill is $5.08.
