Answer:
The correct answer is letter "B": resources are limited and therefore cannot satisfy one's many competing wants.
Explanation:
Scarcity is the main problem in economic by which people have unlimited needs but finite resources to satisfy them. As a result, individuals must make tradeoffs to sacrifice part of the satisfaction of a need, to satisfy part of another need. Scarcity pushes people to make rational decisions to maximize their returns.
Answer:
C) An increase in imports into the United States and a decrease in exports to Canada, which will cause a decrease in aggregate demand and real GDP.
Explanation:
This is because an appreciation in dollar increases the price of computers for Canada which are purchased via USD. This reduces the Canadian demand for computers. This also means that as USD is now stronger they can buy Canadian products as cheaper. This then increases the imports in to the USA and decreases the exports.
As the exports have fallen and more American demand is for the imports, aggregate demand and GDP which is associated with locally produced goods - falls.
Hope that helps.
I<span>f the container store owners/managers were to walk around and personally thank each employee for doing a good job, then this would be a motivating factor. This action exhibits a good environment as well for employees to foster as they're performances are acknowledged by their employers. if this goes on, this will inspire many employees to alleviate their status.</span>
Answer: The corrects answers are: "a. If both firms are localized in position 1/2 (i.e., center of the line), neither firm has incentives to deviate and move to a different position.", "c. If Firm localize at the same point along the line, they will each sell to 50% of the consumers." and "d. If Firm 1 is located at position 1/2 (i.e., center of the line) and firm 2 is located somewhere else, then both firms have incentives to deviate and change their position along the line.".
Explanation: According to the Hotelling model of the competition between two firms:
a. If both firms are localized in position 1/2 (i.e., center of the line), neither firm has incentives to deviate and move to a different position. - If this were the case, it would be indifferent for customers to go to either.
c. If Firm localize at the same point along the line, they will each sell to 50% of the consumers. - This happens because each consumer will go to the nearest one.
d. If Firm 1 is located at position 1/2 (i.e., center of the line) and firm 2 is located somewhere else, then both firms have incentives to deviate and change their position along the line. - This happens because the strategy chosen is not suitable for either company.
Guilds were the associations for skilled craftsmen