If the entire economy should take a downturn, the effect on the manufacturer would be to : offer rebates and incentives for customers who purchase washing machines.
<h3>What is meant by an economic downturn?</h3>
This is the term that is used to refer to the economic downturn that is experienced in a particular economy for a given period of time. This period would usually bring about the failure of the market with the producers and sellers making little gains in the market.
Hence we cam say that If the entire economy should take a downturn, the effect on the manufacturer would be to : offer rebates and incentives for customers who purchase washing machines.
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Answer:
Adjusting entry the company made to record its estimated bad debts expense:
Bad Debts Expense 29,300
Allowance for Doubtful Accounts 29,300
Explanation:
The company uses the aging of receivable method to estimate uncollectible.
Estimated uncollectible would be $28,500
Before year-end adjustments, the Allowance for Doubtful Accounts had a debit balance of $800
Bad debts expense = $28,500 + $800 = $29,300
Adjusting entry the company made to record its estimated bad debts expense:
Bad Debts Expense 29,300
Allowance for Doubtful Accounts 29,300
The link between the Scarcity and choice is the study of how individuals and society choose to allocate scarce resources.
<h3>What is the Meaning of Scarcity?</h3>
Scarcity refers to the insufficient or the shortage of the resources with the individual or in the particular nation. For Example In any Industry there is the shortage of the skilled workers.
The complete question is attached below.
The link between the Scarcity and the Opportunity Cost is that it has the direct implication on the scarcity. In decision making process, one must has to sacrifice the opportunity cost of that action.
The link between the Scarcity and competition is due to the Lack of resources which forces people to compete for the limited resources that are accessible because there aren't enough to satisfy everyone's wants.
Additionally, people would compete for the rationing tool, such as money, whatever it may be.
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Answer:
Option (D) is correct.
Explanation:
We all know that a country imposes tariffs on the imports of a commodity to restrict imports from other country.
Specific tariff is a type of tariff that will be imposed on the every unit of a commodity that will be imported in a country. It is a amount of money that a person have to pay for every unit he or she imports.
It is mostly levied on the products like Fertilizers, rice, wheat, cloth, sugar, cement, etc.
