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kotykmax [81]
3 years ago
10

Martin has given himself an entertainment budget of $5 per week. He has decided that each week he will spend that $5 by either a

ttending a matinee movie at his local theater or downloading five songs by one ofhis favorite artists. What is the non-monetary opportunity cost of seeing a movie this week?- Five songsOpportunity cost is:- The value of the opportunity that you give up when you choose one activity instead of another.In the circular model, only by selling resources _____ can obtain the income they need to buy the products they want to consume.- householdsA waste of resources that could have been used to produce something else occurs when:- MB < MCEconomics is the study of how individuals and societies allocate ____ resources among many competing uses.- limitedThe value of the next-best foregone alternative is the _______cost. - opportunity
Business
1 answer:
777dan777 [17]3 years ago
4 0

Answer:1.Factor services, 2 scarce resources, 3. opprtunity cost or real cost or true cost

Explanation:

Circular flow.of income: This is the system of how goods and services flow in for consumption by the households.it also shows the intrrelationship between the households and the business sector of the economy. From the diagram of the circular flow of income, the outer circle presented the flow of real services for productive agents such as land, Labour, capital and enterprise to the business sector.while the flow of goods and services are produced from the inner circle reflect the monetary aspect of what the outer circle produced.

Scarcity : This concept is used to explain how the human wants are unlimited, since human wants are unlimited so the resources to satisfy them are also limited . In order to solve the problem of scarcity, man has to make a choice by ranking his wants in their order of priority this is where we have the scale of preference.

Opportunity cost : This is the cost which described the cost of one product in terms of forgone alternatives. It is the alternative that is forgone in order to satisfy a want. For example a student who need a book that is costing $10, and a cloth that is also costing $10. If the student buys the book instead of the cloth, then the opportunity cost of his choice is the cloth that such student has forgone.

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What are some potential positive outcomes of filing for bankruptcy?
matrenka [14]

Answer:

An automatic stay against creditors. Once you file, the court automatically issues this stay against any and all debt collection activity.

Dischargeable debts.

Bankruptcy exemptions might allow you to maintain ownership of your property after bankruptcy.

Credit Score.

8 0
2 years ago
Which is the correct sequence for recording transactions and preparing financial​ statements?
zheka24 [161]

Answer:

The answer is B.

Explanation:

The first is the journal. A journal entry may be a summary of the debits and credits of the transaction entry to the journal.

Followed by a ledger which may be a book containing accounts during which the classified and summarized information from the journals is posted as debits and credits.

Trial balance which is that the listing of all accounts (asset, liability, equity, revenue, expense) with the ending account balance or or its a report that lists the balances of all book accounts of a corporation at a specific point in time.

And lastly the financial statements. they're written records of a business's financial situation

8 0
3 years ago
Which one of the following positions would have salaries or wages that are classified as a factory overhead cost by a baking com
frutty [35]

<u>Answer: </u>

Out of the following positions, the position of the factory supervisor would have a salary or wage that is classified as a factory overhead cost by a baking company.

<u>Explanation: </u>

  • For a baking factory, professionals like a baker, a salesman, or the president of the company are mandatory to have.
  • The need for a factory supervisor arises only if it is devised or felt that the employees would not work properly if they are not monitored.
  • If such a need is not felt anymore, the salary of the factory supervisor would be considered as an overhead cost by the company.
7 0
3 years ago
The Smith Company manufactures insulated windows. Costs for March were as follows. Direct labor $53,000 Indirect labor 18,000 Sa
Marat540 [252]

Answer:

$27,000

Explanation:

The following costs were incurred by Smith's company during the month of March

Direct labor $53,000

Indirect labor 18,000

Salary of corporate vice president for advertising 25,000

Direct materials 48,000

Indirect materials 4,000

Interest expense 7,500

Salary of factory supervisor 3,000 Insurance on manufacturing equipment 2,000

Therefore the actual manufacturing overhead for March can be calculated as follows

= Indirect labour + indirect materials + salary of factory supervisor + insurance on manufacturing equipments

= $18,000 + $4,000 + $3,000 + $2,000

= $27,000

Hence the actual manufacturing overhead for March is $27,000

8 0
3 years ago
Answer ASAP will give 45 points
Licemer1 [7]
Sorry I’m not really sure of the answer
4 0
3 years ago
Read 2 more answers
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