Economists are concerned with an individual's wants because wants because the existence of wants leads to scarcity.
<u>Explanation:</u>
Wants are the wishes of the human beings. It is the desire that is to be achieved by human beings. Every individual wants something in life for the survival. The wants of human beings has led to the technology advancements and discovery of many new things.
Wants are never ending things in human life. When something is achieved and there arises another want to be achieved again. This is to live better and this betterment will be never ending one, hence, economists view wants of individuals to lead to scarcity.
Answer: Ordinal scale.
Explanation:Ordinal scale is the level of measurement that gives the ranking of data without showing the degree of variation between them. It helps in identifying if object has more or less characteristic when compared to another object but does not tell the exact weight of the characteristic. Data in Ordinal scale is usually given in order of magnitude since there is no standard of measurement of differences. For example 1=most willing to 5=least willing.
Answer:
Grower Mart
Explanation:
("FOB shipping point" or "FOB origin")is a term that stands for from the point of origin. This means that the buyer incur any risk and takes delivery of the goods once the seller ships the goods. The supplier records it as a sale at the point of departure from its shipping dock. meaning that the purchaser pays the shipping cost from the factory or warehouse and gains ownership of the goods as soon as it leaves its point of origin.
When the term "F.O.B. Hilltop Farms" it means it is from the point of origin
The journal entry to record the purchase of materials on account in process cost accounting is an Increase in assets and an increase in liabilities. Option A. This is further explained below.
<h3>What is a journal entry?</h3>
Generally, In process cost accounting, a rise in assets and an increase in liabilities are recorded in the journal entry for the purchase of materials on account.
In conclusion, A journal entry is a kind of entry that is used in the accounting records of a company to record a transaction that occurred inside the company.
Read more about the journal entry
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Answer:
280,000 pounds
Explanation:
The computation of the purchase of raw material is shown below:
= Ending inventory + production required - beginning inventory
= 100,000 pounds + 250,000 pounds - 70,000 pounds
= 280,000 pounds
We simply added the required production and deducted the beginning inventory to the ending inventory so that the correct pounds can be calculated
