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3 years ago

Which of the following scenarios most accurately reflects the concept of scarcity?

Business

1 answer:

mojhsa [17]3 years ago

3 0

Answer:

2. Brett is a farmer with an open field on which he can plant either soybeans or corn.

Explanation:

Scarcity in economics means the resources available to meet man's needs are limited or scarce.

In brett's case, land is limited, so he has to choose between planting soybeans and corn.

I hope my answer helps you

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Wylie has been offered the choice of receiving $5,000 today or an agreed-upon amount in 1 year. While negotiating the future amo

Studentka2010 [4]

Answer:

The answer is 14%

Explanation:

Formula for Future value (FV) FV = PV (1+ni)

Whereas FV= Future value, PV = present value, n= number of years, i= TVOM in percentage

Rearranging the formula for i

i = (FV/PV)-1

So, i = (5,700/5,000)-1

i = 1.14-1

i = 0.14

i = 14%

(0.14x100=14%)

8 0

4 years ago

Case X: Compute cash received from customers:

Inessa05 [86]

Answer:

Sahim Company

Case X: Cash received from customers = $508,600

Case Y: Cash paid for rent = $141,400

Case Z: Cash paid for merchandise = $481,500

Explanation:

a) Data and Calculations:

Case X: Compute cash received from customers:

Sales $ 515,000

Accounts receivable, December 31, 2013 27,200

Accounts receivable, December 31, 2014 33,600

Case Y: Compute cash paid for rent:

Rent expense $ 139,800

Rent payable, December 31, 2013 7,800

Rent payable, December 31, 2014 6,200

Case Z: Compute cash paid for merchandise:

Cost of goods sold $ 525,000

Merchandise inventory, December 31, 2013 158,600

Accounts payable, December 31, 2013 66,700

Merchandise inventory, December 31, 2014 130,400

Accounts payable, December 31, 2014 82,000

Case X: Cash received from customers:

Accounts receivable

Account Titles Debit Credit

Sales $ 515,000

December 31, 2013 27,200

December 31, 2014 $33,600

Cash received 508,600

Case Y: Cash paid for rent:

Rent Payable

Account Titles Debit Credit

Rent expense $ 139,800

December 31, 2013 7,800

December 31, 2014 $6,200

Cash paid 141,400

Case Z: Cash paid for merchandise:

Cost of goods sold $ 525,000

Merchandise inventory, December 31, 2014 130,400

Merchandise inventory, December 31, 2013 (158,600)

Purchases during 2014 $ 496,800

Accounts payable

Account Titles Debit Credit

December 31, 2013 $66,700

Purchases during 2014 496,800

December 31, 2014 $82,000

Cash paid for merchandise 481,500

3 0

3 years ago

Neha is writing a report comparing the profits of three fashion design houses What type of organizational method should she use?

Marta_Voda [28]

Answer:

b) Component

Explanation:

Since in the question it is mentioned that the neha has written a report in which the profits of three fashion design houses could be compared

So in this situation, the component organizational method could help for knowing the strategic and the operational information so that it would be easy for comparing the profits between these three fashion houses

Therefore the option b is correct

3 0

3 years ago

Christy enjoys baking pies from fresh fruit, especially blueberries, blackberries, and strawberries. When she goes to the market

Bess [88]

Answer:

Christy's demand for blackberries is elastic.

Explanation:

Christy purchases blueberries, blackberries, and strawberries. When the price of blackberries rises to a small extent, Christy will instead purchase strawberries or blueberries.

This shows that the demand for blackberries is elastic. Elastic demand refers to the situation when a small change in price causes the quantity demanded to change to a great extent.

6 0

4 years ago

Which one of the following is NOT one of the benefits of self-regulation? Select one: a. Less expensive b. Practical and realist

UNO [17]

Answer:

Option E.

All 4 of the listed benefits are correct

Explanation:

Self-regulation in business is a practice whereby businesses come together to set standards and guidelines for themselves and any other new business that are coming into the industry.

All the options are correct when we are talking about the benefits of self-regulation

A. It is less expensive when businesses self regulate since they would set standards and prices that favour themselves rather than when those regulations are out in place by external bodies.

B. The guidelines set by the businesses are practical and realistic as they will only agree on what will work out well for themselves

C. Since the bodies can regulate their industrial activities themselves, there is no need for the government to step in.

D. It is relatively easier for the associations to enforce the guidelines since they are all in the same industry and they belong to the same association.

6 0

4 years ago