Visible artifacts; and underlying values. If you don't find an answer on this site, use Google.
Economics in many cases is an exact science, but usually it is a practical one that has applications. Thus there are some practical goals that need to be answered with the use of economics and an easy to summarize form of them are the five fundamental questions of economics. 3 of the choices above are such fundamental questions; determining the way of production, the receiver of the production as well as the ways in which the economic system can change are of fundamental importance to the science of economics. The other 2 questions are: What products will be produced ? and How can we foster progress?
Choice d is a pretty important question too (that falls somewhat under a) but the fact that it mentions the government specifically makes it less general than the other propositions so it is not a fundamental question.
Answer:
Long term liabilities is $23,000,000
Explanation:
Electronic Superstore
Balance Sheet (Not Full) at December 31, 2021
Details Amount ($)
Current liabilities NA
Long-term liabilities <u> 23,000,000 </u>
Total liabilities <u> 23,000,000 </u>
Note that the $7 million will due in 2022 not in 2021. Therefore, this does not effect on the 2021 balance sheet entries.
Answer:
Market price = $2, profit = $0
Product differentiation
Increase profit
Explanation:
The market price will be $2, since the two firms will compete against each other, then the ori e falls to the marginal cost of $2
Product differentiation refers to the distinction made in a market whereby mostly similar products are produced. The variation or distinction made by different producers is usually used to influence consumer decision. The inscription of iguana made on the chest of iz and odd's t-shirt brand is to differentiate its product from that of Ralph and Lauren.
The Economic reason which could have likely sparked iz and odd's decision to put Iguana on its t-shirt brand is to give consumers something a bit more different from their usual design, thereby enticing more customers and ultimately increase profit.
