Answer:
c. Optimum replacement interval (ORI)
Explanation:
Optimum replacement interval used to estimate the most cost effective time to replace an asset on the basis of their replacement cost.
There needs to be a balance between the replacement cost and the value that is being lost by changing the asset.
The useful value must be low to justify replacement cost.
For example if the cost of maintaining a machine has increased a lot as a result of wear and tear, it will be more cost effective to make a replacement in order to minimise cost and increase efficiency
Answer:
A financial system functions as an intermediary and facilitates the flow of funds from the areas of surplus to the areas of deficit. It is a composition of various institutions, markets, regulations and laws, practices, money managers, analysts, transactions, and claims & liabilities.May 29, 2016
(can u flag me)
Answer:
The answer is below
Explanation:
1. Yes, making uninformed decisions is irrational. This is because it will cost the individuals making uninformed decisions to lose money in the process. Such individuals may also lose another important aspect concerning their decision, such as technological advantage, political assistance, social benefits, economic privilege, etc.
2. To determine how much information is the right amount is to ensure you continue to acquire information as long as the benefit of the additional information exceeds the additional costs. Otherwise, it is no longer the right amount anymore.
Conspicous Consumption was the term used by thorstein veblen to describe fundamental change in people's orientation to the economy.
Who was Thorstein Veblen?
Thorstein Veblen was a famous sociologist and economist who wrote the book The Theory of the Leisure Class. He wrote about the relationship between the economy, culture, and society.
Conspicuous consumption is the act of acquiring things or services specifically with the intention of flaunting one's affluence. When publicly displayed products and services are too expensive for other people in a person's class, conspicuous consumption is a way to demonstrate one's social position. Although it is frequently associated with the wealthy, this type of consumerism can occur in any income class.
The complete question is :
What term did Thorstein Veblen use to describe the fundamental change in people's orientation to the economy from producing goods to using them?
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They are prone to corrosion and are not as strong
