1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Liula [17]
3 years ago
5

How do the Four Key Elements of Economics work in society?

Business
1 answer:
Varvara68 [4.7K]3 years ago
7 0

Four key economic concepts–scarcity, supply and demand, costs and benefits, and incentives

Explanation:

Although possessing a clear knowledge of economic philosophy isn't quite as critical as managing the family budget or studying how to drive a vehicle, the qualities that motivate the analysis of economics affect every moment of our lives. At the most simple point, economics is attempting to understand how and when we make the buying decisions we do.

Four main economic principles – shortage, supply and demand, costs and profits, and opportunities – can help clarify a variety of human decisions.

You might be interested in
Which of the following is not one of the three most common core ERP components focusing on internal operations? A. Accounting an
viva [34]

Answer: Which of the following is not one of the three most common core ERP components focusing on internal operations? C. Business Intelligence

Explanation: The core ERP components are Accounting and Finance, Production and Materials Management, and Human Resources.  The ERP components help a business focus on internal operations and how to be productive in maintaining them.

4 0
3 years ago
(Scenario 4-2: Production of Wheat and Toys) Given the information provided, one can determine that Country A has an absolute ad
Arte-miy333 [17]

Answer:

wheat, wheat

Explanation:

In the field of economics, absolute advantage may be defined as the ability of a producer to produce a particular goods or services at large amount or quantity at the same price or the same quantity at a very low price as compared to other producers. It means producing goods efficiently.

Whereas a comparative advantage of a product is defined as the ability of a producer to produce more goods and and consumes less of it at a lower opportunity cost when compared to its competitors.

Thus in the context, Country A has both an absolute advantage as well as comparative advantage in production of wheat.

4 0
3 years ago
_____ is not a primary concern when writing menu copy.
NISA [10]

Cleverness is not a primary concern when writing menu copy.

6 0
3 years ago
Subtract ( p-q)-(p+q)​
omeli [17]

Answer:

Explanation:8s9s88s

6 0
3 years ago
If the Mayor of Little Rock, Arkansas is also a director of a Little Rock municipal securities dealer, which of the following st
riadik2000 [5.3K]

Answer: B. I and IV

Explanation:

A CONTROL RELATIONSHIP is defined as a situation where an issuer is controlled by the DEALER, or the Dealer is controlled by the Issuer, or there common control between the Issuer and Dealer of the security. As Mayor of Little Rock and also the Director of the Municipal Dealer, there is definitely a CONTROL relationship going on.

The Municipal Securities Rulemaking Board (MSRB) requires that when a control relationship exists between a municipal securities dealer and the issuer whose bonds are recommended by that dealer, the nature of the relationship must be DISCLOSED to the customer.

Hence option B is correct.

4 0
3 years ago
Other questions:
  • Critics of the National Income and Product Accounts (NIPA) argue that the accounts are outdated and fail to account for "intangi
    10·1 answer
  • Suppose all individuals are identical, and their monthly demand for Internet access from a certain leading provider can be repre
    10·1 answer
  • A firm has net income of $197,400, a return on assets of 8.4 percent, and a debt-equity ratio of .72. What is the return on equi
    8·1 answer
  • Boone Products had the following unit costs:Direct materials $24Direct labor 10Variable overhead 8Fixed factory (allocated) 18A
    13·1 answer
  • All the following are benefits of attending a community college except that
    13·1 answer
  • Explain why peccarelli returned to guatemala and describe the goals his team are trying to accomplish.
    11·1 answer
  • Individuals are said to be collaborating when:_________.A) they have reciprocal faith in others' intentions and behaviors.B) the
    12·1 answer
  • If you have a fixed rate loan for three years with monthly installments, what equation will best allow you to calculate the full
    11·1 answer
  • Foundation for motivation
    11·1 answer
  • Currently in the united states, money is backed by:____.
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!