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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.

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Which of these emotions is not a personal benefit of work?
Vesnalui [34]
I think is A because accomplishment is not a emotional thing.
6 0
3 years ago
Read 2 more answers
Who said "only by promoting manufacturing and commerce can our economy grow and prosper"?
AfilCa [17]
This was said by Alexander Hamilton in the 1790s in a debate with Thomas Jefferson during the debate of Jefferson vs. Hamilton when Hamilton proposed the National Bank yet Thomas Jefferson was strongly against it.

8 0
2 years ago
Rachel Robinson owns a small retail store in Cairo, Georgia. The following summary information regarding expectations for the mo
Andrei [34K]

Answer:

Check the explanation

Explanation:

   January  

Beginning Cash Balance                                   $1,000  

Add: Collection:    

December Sale ($5,000*10%)                           $500  

January Cash Sale                                             $6,000  

January Credit Sale ($4,000*90%)                   $3,600  

Total Cash Available a                                      $11,100  

Cash payment to suppliers b                          $24,000  

Cash deficit before financing a-b                   $-12,900  

Add: Borrowing  (Using permutation-comb.) $14,040  

                                                                                   

Less: Interest Payment                                      $-140  

$14,040*12%*1/12    

Ending Cash Balance                                        $1,000

3 0
3 years ago
Graduating from college two years ago, Marshall lives a solidly middle-income lifestyle. He’s paying his student loans, his rent
777dan777 [17]

The correct answer to this open question is the following.

You forgot to include the question. Here we just have a statement, but no question at all.

Maybe you wanted to add an opinion or you need to say if this individual needs an extra credit card.

If that is the case, then we can comment on the following.

No. Marshall doesn't need an extra credit card. He already has six, another one could be a burden to his financial record.

Marshall is doing well. He lives a solidly middle-income lifestyle. He’s paying his student loans, his rent, and all of his other expenses on-time. There is no reason to incur more debt with another credit card.

Plus the fact that the other six cards pay 0% interest for the first year, free airline miles, and 20% off his first month’s purchases at his favorite store. But all of that is going to change after the first year and interests are coming.

Until today, he has been strict in paying his full balance each month and he is responsible enough to stop using the card once the initial features expire. Although he desires to take a vacation using the advantages of another credit card, he has to be disciplined and refrain to get it. Six cards are too many for the way of life and the job he has. The moment he loses control of the use of the credits and gets into debt, plus interests, problems are going to raise.

6 0
2 years ago
If a business closes its accounts only at year-end
Levart [38]

Answer:

The correct answer is letter "D": Revenue and expense accounts reflect year-to-date amounts throughout the year.

Explanation:

Most firms close their accounts by the end of the year because of accounting reporting purposes. It does not imply throughout the year the firm will not be able to make reports of their performance. They actually can but closing the account relevant for the report requested. <em>By closing the accounts only by the end of the year, the revenue and expense accounts will show annual calculations in the upcoming period books.</em>

3 0
2 years ago
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