All categories

3 years ago

Scarcity can be eliminated if

Business

1 answer:

bogdanovich [222]3 years ago

6 0

Answer:

The scarcity is the key problem that the economics are trying to find an answer to and try to mitigate by making the resources more productive.

The scarcity arises because of 2 main factors,

The human wants are Unlimited
The resources available to satisfy these wants are Limited

In theory, if we need to "eliminate" scarcity complete we should either Limit our Needs or find an Unlimited source of resources we require.

However, these are not practical solutions.

So because of this, economics try to utilize technology and other factors to harness the full potential of resources and to use them optimally.

Explanation:

You might be interested in

What should you do when the job you interviewed for is not what you wanted?

Delicious77 [7]

Answer:

C reject the position if you can't do it

5 0

2 years ago

Patrick, a marketing manager at Flares Inc, sets performance goals for his subordinates. He discusses the goals with one of his

Julli [10]

The answer is C goal acceptance

3 0

3 years ago

Feldpausch Corporation has provided the following data from its activity-based costing system:Activity Cost Pool Total Cost Tota

Alenkinab [10]

Answer:

Product margin= $11.03

Explanation:

<u>First, we need to calculate the activities rates:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Assembly= 1,150,100 / 62,000= $18.55 per machine-hour

Processing orders= 54,554 / 1,860= $29.33 per order

Inspection= 194,310 / 2,550= $76.2 per inspection-hour

<u>Now, we can allocate overhead to Product W26B:</u>

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Assembly= 18.55*1,610= $29,865.5

Processing orders= 29.33*65= $1,906.45

Inspection= 76.2*30= 2,286

Total allocated costs= $34,057.95

Unitary allocated overhead= 34,507.95 / 990= $34.86

Finally, the unitary cost and product margin:

Total unitary cost= 34.86 + 52.35 + 17.21= $104.42

Product margin= 115.45 - 104.42

Product margin= $11.03

3 0

3 years ago

Garcia Co. sells snowboards. Each snowboard requires direct materials of $122, direct labor of $52, and variable overhead of $67

lianna [129]

Answer:

$336.60 per unit

Explanation:

The computation of selling price per unit is given below:-

For computing the selling price per unit first we need to follow some steps which is shown below:-

Total fixed costs = Fixed overhead costs + Fixed selling and administrative costs

= $679,000 + $114,000

= $793,000

Fixed cost per unit = Total fixed costs ÷ Number of units expected to be produced

= $793,000 ÷ 12,200

= $65 per unit

Total costs per unit = Direct materials + Direct labor + Variable overhead + Fixed cost per unit

= $122 + $52 + $67 + $65

= $306

Now,

Selling price per unit = Total cost per unit × (1 + Markup)

= $306 × (1 + 10%)

= $306 × 1.1

= $336.60 per unit

7 0

4 years ago

Land, a building and equipment are acquired for a lump sum of $1,000,000. The market values of the land, building and equipment

sergij07 [2.7K]

Answer:

The answer is option (b). $250,000

Explanation:

Step 1: Determine total market value

The expression for the total market value is;

Total market value=land value+building value+equipment value

where;

land value=$300,00

building value=$600,000

equipment value=$300,000

replacing;

Total market value=(300,000+600,000+300,000)=$1,200,000

Total market value=$1,200,000

Step 2: Determine fraction of the total market value that is equipment

Equipment fraction=equipment value/total market value

where;

equipment value=$300,000

total market value=$1,200,000

replacing;

Equipment fraction=300,000/1,200,000=0.25

Step 3: Determine cost assigned to the equipment

Cost assigned to the equipment=equipment fraction×lump sum

where;

equipment fraction=0.25

lump sum=$1,000,000

replacing;

Cost assigned to the equipment=(0.25×1,000,000)=250,000

Cost assigned to the equipment=$250,000

3 0

4 years ago