Answer:
Accounting/bookkeeping
1. The income statement provides you with information about the profit and loss
2. The balance sheet gives you a clear picture on the financial position of your business on a particular date.
3. Bookkeeping is important because it helps you budget.
4. Tax Preparation. In most cases, your business has to file a tax return every year.
5. Organization. Being organized is a skill every business owner should have.
6. Analysis. Bookkeeping is important because it helps with business analysis.
7. Planning Purposes
. Bookkeeping presents the past financial performance of your company.
Explanation:
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Mainly income is a huge factor here, if income somehow manages to decrease then there will be a demand on inferior goods because people cannot afford superior goods anymore
Risk aversion is the behavior in someone when they are exposed to uncertainty and are unsure of something due to being uncertain about it.
In this case, reluctant for taking changes when making investment best describes risk aversion from an economics stand point. If someone isn't sure the return on investment they would get from investing or the risks associated with investing in something, they are more hesitant to do that.
The four factors of production are land, labor, capital and entrepreneurship. These factors influence economic growth, innovation and consumer habits.
Combining different material and immaterial inputs to create something for consumption is the process known as production. It is the process of producing an output, a good, or a service that has value and enhances people's utility.
Directly resulting from the productive use of the initial inputs is the production process and output. Land, labor, and capital are regarded as the three primary production factors, or primary producers of goods or services. In the output process, neither the primary inputs nor the output product are significantly changed.
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Answer:
B. the relationship between the price of a commodity and the quantity produced.
Explanation:
Supply curve shows a graphical representation between the price of a good sellers are willing to offer and the quantity they are willing to supply.
There could be an inward or outward shift of a supply curve. An inward shift shows a decrease in the quantity supplied while an outward shift shows an increase in the quantity supplied.
There is also a movement along the supply curve which occurs when there is a change in quantity supplied as a result of change in price . Factors that shift the supply curve either to the left or right are ; technology, input prices, number of sellers etc.