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mafiozo [28]
3 years ago
11

Which of the following questions must be asked about the use of resources

Business
1 answer:
amid [387]3 years ago
7 0

Answer:

B. What is the most effective allocation?

Explanation:

Economics is the social study of how society allocates its limited resources to meet the unlimited need of its members. It involves the distribution of scarce resources to various sections of the community to meet different wants. Economist's primary concern is the efficient use of the available resources to achieve maximum benefits.

Economics will involve making decisions on the use of available resources. Economists will calculate the opportunity cost in every situation before making a decision. The purpose of finding the opportunity costs to determine the most effective ways of allocating resources.

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You are the vice president of a computer sales company. You could save significant money by firing one of two employees who serv
patriot [66]

Answer:

I would fire Gary.

Explanation:

Even if Gary has a better sales record, he seems to be unable to keep good personal relationships, both with coworkers and clients. This in the long-run could become more problematic and lead to a decline in sales record, and also, a decline in other areas.

Brenda, on the other hand, needs to improve her sales record, but she has strong interpersonal skills that give her an advatange. It is easier to teach a person how to sell than how to be a well-mannered person, therefore, in theory, if should not be so difficult to help Brenda reach higher sales.

8 0
3 years ago
Economic models often: vary greatly in assumptions and simplifications. are correct. provide similar answers. fail to explain an
polet [3.4K]

Answer:

Economic models often vary greatly in assumptions and simplifications.

Explanation:

Most models in Classical Economics are based on a lot of generalizations and simplifications, that intend to model the behavior of the situations of the real world but often fail to encompass all the intricacies and complications that even most straightforward situations present. These simplifications help the Economists figure out the mathematical laws that are governing the real world economic systems. Therefore making the economic modeling a simpler process.

Classic economics implies three basic assumptions:

1- People behave rationally in any situation.

2- Firms and individual want to maximize profit and utility

3- People act independently based on available information.

7 0
3 years ago
Jacob is a customer whose sales region code is 14. He had bought goods worth $150 from ABC company in June. He does not have dea
anyanavicka [17]
I’m not sure Hyde’s we hygiene but we are going on the boat and we can go to get your hair and get some rest before I leave I can go to
4 0
3 years ago
What are deficient products? products that have neither immediate appeal nor long-run benefits products that give high immediate
Lisa [10]

Answer:

Products that have neither immediate appeal nor long-run benefits

Explanation:

A product represents a bundle of utilities created by a producer to satisfy a want.

A deficient product as the name suggests, would refer to such products which are deficient in attributes that represent a customer want and the ones which fail to satisfy customer wants.

Those products who do not conform to a particular quality standard or whose performance is below par as per customer expectations would be termed as deficient products.

Sometimes, organizations deliberately create deficient products so as to induce repurchase of subsequent products depicted as improvements over the previous ones.

Such products lack current appeal and are neither expected to accrue to long term benefits.

7 0
3 years ago
A woman buys a house for a ​$320000. She pays ​$40000 down and takes out a mortgage at 5.7​% for 20 years on the balance. Find h
sdas [7]

Answer:

PMT= 1957.850

Explanation:

For this case the total payment is $320000, and she pays $40000 so the remain amount to pay would be:

$320000-40000=$ 280000

For this case we assume that the annual interest rate is APR=5.7% =0.057 on fraction.

The total number of years are 20. For this case n represent the number of payments per year and since we have monthly payments then n =12.

In order to find the PMT we can use the following formula:

PMT= \frac{P(\frac{APR}{n})}{[1-(1+\frac{APR}{n})^{-nt}]}

On the last expression the APR needs to be on fraction and P represent the principal amount, for this case P = $280000. So if we replace we got:

PMT= \frac{280000(\frac{0.057}{12})}{[1-(1+\frac{0.057}{12})^{-12*20}]}

PMT= 1957.850

And we can verify this using the following excel function: "=PMT(0.057/12,12*20,-280000)"

3 0
3 years ago
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