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3 years ago

The physical production possibilities frontier depicts the various combinations of output that society can produce given:_____.

Business

1 answer:

Kay [80]3 years ago

8 0

Answer:

The correct answer is the option C: the constraints of finite resources and the current state of technology.

Explanation:

To begin with, the production-possibility frontier is a concept known in the area of economy that refers to a curve whose main purpose is to show various combinations of output betweem two goods that the society can produce given finite resources and the current state of technology. Therefore that it comprehends the graphical representation of all that possible combinations between those two goods where the finite resources and the current state of technology are the two most important factors to take in mind.

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Assume that the economy is in a recession and there is a budget deficit. A strict balanced-budget rule that would require the Fe

sukhopar [10]

Answer:

Contractionary and worsen the effects of the recession

Explanation:

Given that during the period of the recession of a given economy, there is a decrease in revenue and inversely, there is an increase in expenditures, this situation will consequently lead to a deficit. Therefore, for a Federal government to balance the budget, it will have to increase additional revenue and at the same time reduces expenditures.

However, in this case, this would be contractionary and worsen the effects of the recession

8 0

3 years ago

Perfectly competitive firms will: increase output up to the point that the marginal revenue of an additional unit of output is e

zavuch27 [327]

Answer:

increase output up to the point that the marginal revenue of an additional unit of output is equal to the marginal cost.

Explanation:

In a perfect competition, there are many buyers and sellers of homogeneous products, and there is free entry and exit in the market.

This simply means that, in a perfectly competitive market, there are many buyers and sellers (price takers) of homogeneous products (standardized products with substitute) and the market is free (practically open) to all individuals or business entities that are willing to trade all their goods and services.

Generally, a perfectly competitive market is characterized by the following features;

1. Perfect information.

2. No barriers, it is typically free.

3. Equilibrium price and quantity.

4. Many buyers and sellers.

5. Homogeneous products.

Examples of a perfectly competitive market are the Agricultural sector, e-commerce and the foreign exchange market.

Perfectly competitive firms always strive to maximize profits by increasing their level of output, such that P = MC.

In a nutshell, in the long run equilibrium P = MR = MC.

Where;

P is the profit.

MR is the marginal revenue.

MC is the marginal cost.

7 0

3 years ago

Which of these statements about cycle inventory is BEST? A. Cycle inventory exists to avoid customer service problems. B. Cycle

zavuch27 [327]

Answer:

A. Cycle inventory exists to avoid customer service problems.

Explanation:

Cycle inventory is the part of inventory kept by a supplier, that shows the amount of inventory available to satisfy demand. Cycle inventory allows the supplier to keep track of his available inventory so as to remove the problem of not meeting customers demand, which can led to loss of customers. And also to reduce the problem of over-storage that can lead to additional holding charge.

4 0

4 years ago

The objectives of internal control are to a.prevent fraud and promote the social interest of the company b.provide control over

Marina86 [1]

Answer:

d.provide reasonable assurance that assets are safeguarded and used for business purposes, financial reports are accurate, and laws and regulations are complied with.

Explanation:

The purpose of internal controls is to provide reasonable assurance that assets are safeguarded and used for business purposes, financial reports are accurate, and laws and regulations are complied with.

By definition: An internal control is a procedure or policy put in place by management to safeguard assets, promote accountability, increase efficiency, and stop fraudulent behavior.

Summarily, internal controls are put in place as a process to prevent employees from stealing assets or committing fraud.

4 0

3 years ago

Which statement is not correct about the business-society interdependence?

Dmitry_Shevchenko [17]

Answer:

D. Actions by governments rarely significantly affect business

Explanation:

Business-socciety interdependence points out how business activities impact society and how society impacts business decisions. Government actions play a significant role in business performance. For example, an increase in interest rate increases the cost of borrowing and acts as an investment disncentive. Likewise, an increase in corporation tax stifles the incentive to invest and reduces corporate profit. Other government interventions such as standards and regulations, minumum wage legislations, permits and licenses would not only reduce business profits but could make doing business very cumbersome. Also, the extent to which the government is committed to maintaining political stability could determine the extent to which invesmtent thrives in an economy.

6 0

3 years ago