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3 years ago

A recurring theme in economics is that people:

Business

2 answers:

forsale [732]3 years ago

5 0

Answer:

The correct answer is letter "D": Have unlimited economic wants, but limited resources.

Explanation:

Scarcity <em>is the major economic problem by which individuals have unlimited wants but depend on limited resources to fulfill them</em>. That scenario pushes people to make trade-offs, meaning to sacrifice the satisfaction of part of a need so other desire can also be covered. Due to scarcity, individuals must find ways to allocate their resources efficiently.

Leni [432]3 years ago

3 0

Answer:

D. Have unlimited economic wants, but limited resources

Explanation:

Economics studies human behaviour in relation to ends and scarce means. Wants are unlimited but the resources to satisfy these wants are limited hence the resources are used to meet the unlimited wants in order of importance (scale of preference).

The wants forgone are known as the opportunity cost of the wants that are satisfied with the limited resources.

Hence a recurring theme in economics is that people have unlimited economic wants, but limited resources.

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Knowledge management is most popular among businesses in

Bingel [31]

Knowledge management is the the way how knowledge is captured, organized, distributed and effectively used. It is a whole process of managing knowledge that is very important for the success of the business because it builds learning organizations by making learning routine, facilitates decision-making capabilities and stimulates cultural change and innovation. It should be part of every type of business. However, KM is mos popular among business in the business administration, management, health, information systems and services.

7 0

3 years ago

Which of the following is the Federal Reserve unable to directly do

Alja [10]

Answer:

Increase and decrease the interest rate in the economy by a certain percentage

Explanation:

The Federal Reserve can influence the prevailing interest rates. However, it cannot increase or decrease the interest rate in the economy by a certain percentage. The Federal Reserve influences interests rate by adjusting the fed funds rate. The feds fund rate is the interest rate that banks charge each other when they borrow from each other.

The Federal Reserve can lend to commercial banks, Adjust reserve requirements, and buy and sell U.S. securities.

3 0

3 years ago

A red sleeveless dress has been a fast seller at a clothing store. Which of these might raise the price of the dress? A.A change

grigory [225]

Correct answer choice is:

D. A reduction in the number of dresses available from the manufacturer.

Explanation:

As per the law of supply and demand, a product tends to experience a rise in costs if the availability is faded. When the availability is faded, the merchandise becomes a lot more limited and provides the vendor additional power to extend the worth if the purchasers wish to accumulate it.

8 0

3 years ago

Read 2 more answers

The distinction between a normal and an inferior good is A. when income increases, demand for a normal good increases while dem

alexdok [17]

Answer:

The correct answer is option A.

Explanation:

Normal goods have positive income elasticity, so when there is an increase in the income of the consumer, the quantity demanded of the normal goods will increase.

On the other hand, the inferior goods have a negative income elasticity. So when the income of the consumer increases the demand for inferior goods decline. This is because as income increases, the consumers will prefer normal goods.

8 0

3 years ago

On March 1, 2015, Landon Company acquired real estate on which it planned to construct a small office building. The company paid

Murljashka [212]

Answer:

The amount to be reported as the cost of the land is $101,000

Explanation:

Given information

Paid cash - $90,000

Cost of property $7,600

Salvaged materials - $1,700

Attorney's fee for work concerning the land purchase - $1,100

Real estate broker's fee - $4,000

Architect's fee - $7,800

Put in driveways and a parking lot - $14,000

For computing the amount of the cost of the land, the Architect's fee and Put in driveways and a parking lot is not considered as it is not related to the land expenses. The computation is shown below

= Cash amount + Cost of property - Salvaged materials + Attorney's fee + Real estate broker's fee

= $90,000 + $7,600 - $1,700 + $1,100 + $4,000

= $101,000

Thus, the amount to be reported as the cost of the land is $101,000

4 0

4 years ago