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Sati [7]
3 years ago
8

One of the basic facts of life is that people must make choices as they try to attain their goals. This unavoidable fact comes f

rom a reality an economist calls.
Business
1 answer:
Natalka [10]3 years ago
8 0

Answer:

scarcity  is the fact that people must make choices as they try to attain their goals.

Explanation:

  • Scarcity is a commodity's lack of availability, and may be in consumer or commons production.
  • Scarcity often includes a lack of resources for buying goods from a person. There is plenty to the reverse of lack. 
  • Scarcity provides limited resources than is required to fulfill human needs and desires.

so, we say that scarcity leads to dissatisfaction.

therefore the right answer is Scarcity.

You might be interested in
Last year Hamdi Corp. had sales of $500,000, operating costs of $450,000, and year-end assets (which is equal to its total inves
adelina 88 [10]

Answer:

1.74%

Explanation:

                               17% Debt       50% Debt

Sales                      $500,000      $500,000

Less: Cost              $450,000      $450,000

Less: Interest         <u>$5,546</u>           <u>$17,400</u>

Profit before tax   $44,454        $32,600

Less: Tax at 35%  <u> $15,559</u>          <u>$11,410</u>

Net Income           <u> $28,895</u>        <u>$21,190</u>

Equity                     $361,050        $217,500

Return on Equity   8.00%             9.74%

Change in ROE = 9.74% - 8.00% = 1.74%

Workings

Interest (17% Debt) = 43,500*17%*7.5% = $5,546

Interest (50% Debt) = 43,500*50%*8% = $17,400

Tax (17% Debt) = $44,454 * 0.35 = 15,559

Tax (50% Debt) = $32,600 * 0.35 = 11,410

Equity (17% Debt) =435,000*83% = 361,050        

Equity (50% Debt) = 435,000*50% = $217,500

Return on Equity = $28,895/$361,050 = 8.00%

Return on Equity = $21,190/$217,500 = 9.74%

7 0
3 years ago
Company ABC makes kitchen appliances that have many features in great demand by professional chefs whose only interest is in the
weeeeeb [17]

Answer:

d. quality.

Explanation:

-Delivery area refers to the places in which the appliances can be delivered.

-Quantity refers to the amount of appliances that the company can produce and sell.

-Price refers to the amount of money that customers would pay for the appliances.

-Quality refers to the degree in which the appliances can meet the customer's requirements.

According to this, the answer is that based on its customers, ABC should try to dominate the market in quality because its products meet the expectations of professional chefs and that should be market to focus on as the company can have an important advantage by providing exactly what they need.

The other options are not right because professional chefs are interested on what they can do with this appliances and not on price, quantity or delievery area.

6 0
4 years ago
Explicit and Implicit Costs) Amos McCoy is currently raising corn on his 100-acre farm and earning an accounting profit of $100
loris [4]

Answer:

No

Amos McCoy is earning an economic loss. His implicit cost ($200) is greater than his accounting profit ($100)

Explanation:

Economic profit it accounting profit less implicit cost.

Accounting profit is total revenue less total cost or explicit cost.

Implicit costs are opportunity costs.

Economic profit = $100 - $200 = $-100

Amos McCoy Is making an economic loss of $-100

I hope my answer helps you.

3 0
4 years ago
Identifying the Appropriate GAAP. (LO15-1, LO15-3) Section A lists a number of reporting requirements for colleges and universit
Serggg [28]

Answer: Please refer to Explanation.

Explanation:

The Government Accounting Standards Board (GASB) is an NGO that oversees the formulation of the Generally Accepted Accounting Principles (GAAP).

The Financial Accounting Standards Board (FASB) does the same as well and is also an NGO.

The difference between the above 2 is that the whilst the GASB caters for Government organisations, the FASB caters for private Organizations.

Classifying the above we have,

1. Patents are classified as capital assets. GASB STANDARD.

2. Sidewalks are classified as land improvements. FASB STANDARD

3. Revenues and expenses must be categorized as operating and nonoperating. GASB STANDARD.

4. Tuition and fees must be shown net of any estimated uncollectible amounts. Both a GASB and an FASB STANDARD.

5. Expenses must be reported by program and support (management and general, and fund-raising) function classifications. FASB STANDARD.

6. Statement of cash flows must be prepared using the direct method. GASB STANDARD.

7. The purchase of a building is reported as an investing activity on the statement of cash flows. FASB STANDARD.

8. The receipt of student deposits for housing is reported as a liability, Deposits Held in Custody for Others. Both GASB and an FASB STANDARD.

9. The cash from a debt issuance is reported in the capital and related financing activities section on the statement of cash flows. GASB STANDARD.

10. The collection of historical first editions can be reported as a note rather than on the face of the financial statement provided certain conditions are met. Both a GASB and an FASB STANDARD.

7 0
3 years ago
A fully inclusive document detailing an​ organization's mission,​ organization, objectives, and operations is called​ a(n) _____
inn [45]

The one responsible of providing a fully inclusive document that details the mission of the organization, its objectives and their operations is called business. Business are likely to be run by a group of people in which they have a common interest or purpose in order to achieve their goal.

4 0
4 years ago
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