The economy consists of producers, who make and sell goods and services, and consumers, who buy the goods and services.
Producers rely on consumers to buy from them, and consumers rely on producers to provide the goods and services they want.
Money allows this relationship to work.
When a business owner uses price discrimination, the marginal revenue curve and the market demand curve are in line, therefore the marginal revenue is the same as the product's price.
The additional money made by selling one more unit of output is known as marginal revenue. The law of diminishing returns eventually leads marginal revenue to start dropping as output level grows, even though it can stay constant at a certain level of output.
The incremental cost or profit made when producing the following item is referred to as marginal. While marginal cost is the additional expense for producing one extra unit, marginal product is the increased revenue.
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All transactions b. affect assets, liabilities, and/or stockholders' equity, and d. must affect both assets and stockholders' equity.
<h3>What is the accounting equation?</h3>
The accounting equation shows that assets are equal to liabilities and equity.
The implication of the accounting equation is that every transaction has at least two effects on the elements of financial statements, given their linkages.
Thus, the correct options are Options B. and D.
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Answer:
The normal balance of liabilities is a credit.
Explanation:
In the double entry system one account must be debited in order for the other to be credited.
There are different balances for each account. For the accounts with normal credit balance a credit causes it to increase while a debit decreases it.
For accounts with negative balance a credit reduces its balance while a debit increases its balance.
- Asset: Debit
- Expense: Debit
- Dividends: Debit
- Liability: Credit
- Owner’s Equity: Credit
- Revenue: Credit
- Retained Earnings: Credit
Liabilities are debt owed by a business. When payment is given out to settle a debt (a debit) it reduces to amount a business owes.
If more loans are collected (a credit) the liability figure increases.
So liability has a normal credit balance
Answer:
Modeling
Explanation:
The efforts of one good worker can often motivate others to reach their potential through a process called modeling. In this process, the person who is setting an example and motivating others to achieve the very best of their potential serves as the best role model for others. When people work in an organization, or in any team or groups, modeling plays an important part there. Managers can motivate their employees and get best and maximum out of them in order to get the work done effectively and efficiently.
