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Alex
3 years ago
9

An economic system describes how and why resources are transformed into GOODS and SERVICE to satisfy human consumption needs. We

call such a system efficient (efficient allocation of resources) when it satisfies what two fundamental objectives?
Business
1 answer:
Marta_Voda [28]3 years ago
3 0

Answer:

Minimizing waste

Pareto efficiency

Explanation:

- This is a situation where waste from allocation of goods is reduced to the nearest minimum.

- This is when every economic good is optimally allocated across production and consumption so that no changes made to allocation can make any body better.

You might be interested in
How would you make a convincing case that open trade in goods and services as well as free flow of foreign direct investment wil
lidiya [134]

Answer:

Free trade of goods and services benefits all countries in the world. This is because of the concept of comparative advantage that tells us that some countries are better at providing specific goods and services than others.

For example, Japan is made up of relatively small islands that are very mountainous, forested, and lacking in natural resources. Besides, the country has a large population concentrated in the few flat areas. This essentially means that Japan is severly lacking in agricultural land and raw materials, and has to import most of its food, oil, natural gas, among other things. This is why the country has specialized in electronics, automobiles, and pharmaceuticals.

Brazil is the opposite: a very large country with hundreds of thousands of square miles fit for agricultural production. The country is a great exporter of soy, rice, sugar, and oil. However, the brazilian industry is not competitive, and most of its exports are to neighboring Argentina.

Without free trade, Japan could hardly feed itself, or it would do so with great difficulty. At the same time, Brazil would have a large surplus of food and raw materials, but its citizens would lack access to high-tech Japanese goods such as Toyota cars, or Sony electronic devices. Both countries would be worse-off.

5 0
3 years ago
A pension fund has an average duration of its liabilities equal to 15 years. The fund is looking at 5-year maturity zero-coupon
gayaneshka [121]

Answer:

The 52 of its portfolio should be allocated to the zero-coupon bonds to immunie if there are no other assets funding the plan.

Explanation:

the duration of the perpetuity = (1+YTM)/YTM

                                                  = (1+0.04)/0.04

                                                  = 26 years

the weights of the bonds = w

5*w + 26*(1-w) = 15

5*w + 26 - 26*w = 15

21*w =  11

w = 0.52

Therefore, The 52 of its portfolio should be allocated to the zero-coupon bonds to immunie if there are no other assets funding the plan.

7 0
3 years ago
TransactionsUnitsUnit Cost a. Inventory, Beginning 4,000 $24 For the year: b. Purchase, March 5 10,000 25 c. Purchase, September
Komok [63]

Answer:

Explanation:

1. Number of goods available for sale = Beginning Inventory + Purchase, March 5 + Purchase, September 19 = 4,000+10,000+6,000 = 20,000 units

Cost of goods available for sale = Beginning Cost of inventory + Cost of Purchase, March 5 + Cost of Purchase, September 19 = 4,000×24 + 10,000×25 + 6,000×27 = 96,000+250,000+162,000 = $508,000

2. Number of units in ending inventory = Number of units available for sale - Number of units sold = 20,000-4,200-9,000 = 6,800 units

3.  Calculations are attached

4.

Income statement FIFO:

Sales $937,800 (4,200×69 + 9,000×72)

Less: Cost of Goods Sold ($326,000)

Gross profit  $611,800

Less Operating expense $602,000

Net income $9,800

Income statement LIFO:

Sales $937,800 (4,200×69 + 9,000×72)

Less: Cost of Goods Sold ($342,000)

Gross profit  $595,800

Less Operating expense $602,000

Net loss $($6,200)

Income statement LIFO:

Sales $937,800 (4,200×69 + 9,000×72)

Less: Cost of Goods Sold ($334,092)

Gross profit  $603,708

Less Operating expense $602,000

Net income $1,708

**Cost of goods sold:-

Under FIFO = 96,000+5,000+225,000 = $326,000

Under LIFO = 105,000+162,000+75,000 = $342,000

Under weighted average method = 103,782+230,310 = $334,092

6. LIFO method minimize taxes

3 0
3 years ago
a manufacturer of games sell each copy for 21.95.the manufacturing cost of each copy is 14.92. monthly fixed cost is 8500. durin
natali 33 [55]

The break-even point is calculated as -

Break-even point (in units) = Fixed cost ÷ Contribution margin per unit

Here,

Selling price = $ 21.95

Variable cost (manufacturing costs) = $ 14.92 (since, costs bifurcation is not given, the manufacturing costs are taken as variable costs)

Contribution per unit = Selling price - Variable cost (manufacturing costs)

Contribution per unit = $ 7.03

Fixed cost (monthly) = $ 8500

Now,

Break-even point (in units) = $ 8,500 ÷ $ 7.03

Break-even point (in units) = 1,209.1 or 1210 games

7 0
3 years ago
Brian is the 99% shareholder, president, and director of Arapine Corp. He frequently uses the corporation credit card for his pe
Alika [10]

Answer: (C) Brian is liable because the court will pierce the corporate veil.

Explanation:

The phrase "PIERCING THE CORPORATE VEIL" is used to describe a situation where a Court decides to hold Corporate Shareholders and/or LLC Owners personally liable for the liabilities of a corporation.

When individuals act in a way that does not separate them from the company (dissolving this 'veil'), the Court looks upon this seriously and treats it in kind. Some instances of this happening are, failure to keep business and personal funds separate and diverting business assets for personal use without proper documentation as Brian seems to have done.

For this reason, the Court will very much likely Pierce the veil.

If you need any clarification do react or comment.

6 0
3 years ago
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