Which of the following is an essential part of making a rational choice?
C. Doing cost-benefit analysis.
I got my answer from quizlet. 2.05 Quiz: Consumer Choice
Answer: b. Services, marketing intermediaries, and manufacturing
Explanation:
The three types of businesses today;
- Services - Service companies sell intangible goods otherwise known as services to people who will derive value from them. As such they are highly focused on customer satisfaction which leads to them employing individuals with the knowledge and experience to provide services. Examples include; Accounting firms, law firms, etc
- Marketing Intermediaries - These are the middle men in the market. The facilitate the flow of goods from the producer/ supplier to the end user. They include: agent, wholesalers, retailers, financial institutions etc.
- Manufacturing - Manufacturing businesses are those who produce the goods that we use today. They are most probably the biggest and most valuable of the 3 types as they comprise of all goods manufactured in the market including technology, commodities, construction, automobiles and the like.
Answer:
The correct answer is unorganized taxpayers to well-organized interest groups.
Explanation:
Public choice theory seeks to study the problems of political science applied to economics. A positive public election means that the decisions of politicians face the needs of civil society. In the case of the example, it is easy to determine towards whom the work of people in political positions should be oriented, and it is by definition to unorganized communities with some type of unsatisfied basic need.
Answer:
a debit to Insurance Expense and a credit to Prepaid Insurance
Explanation:
The adjusting entry to record the prepaid insurance is shown below:
Insurance expense Dr XXXXX
To Prepaid insurance XXXXX
(Being the prepaid insurance account is adjusted)
For recording the adjusting entry, we debited the insurance expense and credited the prepaid insurance account so that the proper posting could be done
Answer: Depreciation or consumption of fixed capital
Explanation:
The National Income is the total income earned in a country in a given period thereby making it the GDP because it is assumed that all income in the economy is spent on the expenditures in the same economy.
When calculating the National Income, the depreciation or consumption of fixed capital is not included. Included rather are things like; Rent, Profits/losses, Wages and Pensions.
