Answer:
Allocative inefficiency.
Explanation:
Factors of production can be defined as the fundamental building blocks used by individuals or business firms for the manufacturing of finished goods and services in order to meet the unending needs and requirements of their customers.
In Economics, there are four (4) main factors of production and these are;
I. Land.
II. Labor (working).
III. Capital resources.
IV. Entrepreneurship.
When these aforementioned factors of production are combined effectively and efficiently, they can be used for the manufacturing or production of goods and services to meet the unending requirements or needs of the consumers.
Basically, there are two (2) types of inefficiency associated with the production of goods and services to meet the unending requirements or needs of consumers, these includes;
1. Technical (productive) inefficiency: it occurs when a company or business firm produce goods and services that consumers do not want. This is typically as a result of the incorrect and inefficient allocation of scarce resources by a business firm or entity.
2. Allocative inefficiency: it occurs when a company or business firm do not maximise output from the given inputs such as raw materials, capital, etc. Thus, it arises when businesses fail to increase the level of their production or productivity from a number of given inputs.
Hence, when a business do not maximise output from the given inputs, it is referred to as an allocative inefficiency.
<em>In conclusion, allocative inefficiency typically occurs when the price of a good or service isn't equal to its marginal cost i.e P ≠ MC.</em>
Answer:
Please find the complete question in the attached file.
Explanation:
Rocky believed there would be a 
possibility of a July bonus for touring, i.e 
, from July 1-July 15 (10 days)-. Therefore no bonus can be calculated as 
/ day trip \times 10 days = throughout this duration.
The expected 15-day revenues from 16th July – 31st July may well be calculated as 
Rocky calculated that it would get the bonus 
of the time. Estimates a 
Answer:
The reason for a civil law suit can be almost any harm or wrongful act done to an individual or business, by another person or business entity. For example, a breach of most contracts can be considered as the reason for a civil law suit. Also, car accidents and misfortunes take a big share in civil law suits.
If a defendant loses in a civil law suit, he usually pays in dollars, as reimbursement for the harm done. Rarely, this results in actual time in prison (behind bars).
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Usually, when harm or potential misunderstanding includes someone you know or work with, the first step is to try to settle things without court. Legal costs can become overwhelming, especially if the problem could be solved beforehand.
Also, the social and relationship aspect is extremely important. If you take a case to the court (especially if the reason is minor and could be potentially settled without the aid of legal entities), the relationship between you and the defendant will always have a hostile notion to it. That is a factor to take into consideration if the defendant is an acquaintance or co-worker.
Answer:
D. Operating activities.
Explanation:
A financial statement is a written report that quantitatively describes a firm's financial health. Under the financial statements is a cash-flow statement, which is used to record the cash inflow and cash equivalents leaving a business firm.
Cash flow statement, also known as the statement of cash flows, contains financial information about operating, financial and investing activities.
Hence, activities that involve the production or purchase of merchandise and the sale of goods and services to customers, including expenditures related to administering the business, are classified as operating activities. All the net income or cash from all operational business activities of a company is recorded as operating activities.
Answer:
a letter grade in literature
Explanation:
Opportunity cost or implicit is the cost of the next best option forgone when one alternative is chosen over other alternatives.
If i weren't studying economics, i would be studying literature. Thus by studying economics, i am forgoing the opportunity to study literature This is my next best option and thus my opportunity cost
