The probability of event B given that event A has already occurred is known as a CONDITIONAL PROBABILITY.
Conditional probability is written mathematically as: P[B/A], where P stands for probability.
Event A and B can be dependent or independent and this will have effect on the general formula of conditional probability, that is, the formula will change in form depending on the relationship between the two events.
Answer:
Explanation:
The characteristics of money are durability, portability, divisibility, uniformity, limited supply, and acceptability.
Answer:
produces
increases
trade-offs
Explanation:
The law of increasing opportunity cost states that when firms decide to make additional units of a certain product by reallocating resources, they do that at a higher opportunity cost than the previous production. The major traceable reason for this is inefficiency in resource reallocation.
This increase in opportunity cost is associated with increasing and increasing trade-off.
2. and 4., hope this helped!
It should be noted that statement of retained earnings gives lists of the beginning and ending balances of key equity accounts.
<h3>What is statement of retained earnings?</h3>
The statement of retained earnings can be regarded as a financial statements which provides details changes in the volume of retained earnings over some period.
statement of retained earnings describes the changes that occur during the period.
Learn more about statement of retained earnings at:
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