Answer:
It is important to start saving at an early age. You can set some financial goals for things that you want to buy in the future instead of spending it all at one time. You can save for bigger ticket items, like a car.
Explanation:
Answer:
The correct option is C,will result in the consumer buying less of a good at a higher price
Explanation:
When there are close substitutes for a product,a rational consumer will switch to an alternative good or service when the price of the good rises.
This ultimately is line with the law of the demand that the higher price the lower the quantity demanded and vice versa.
Hence, the substitution effect works in such a way that the product that has a lower price compared to its rival commodities catches the attention of the consumers much more due to its lower price nature.
Answer:
Inventory
Explanation:
A periodic inventory system is an efficient method to record the sale and purchase of inventory. It is a method which instantly using accounting software to record an entry. In the periodic inventory system, the cost of purchases is debited to an inventory account. The reason is that the purchase of goods increases the inventory, which is why the cost of purchases is debited to an inventory account.
Answer: 2 Apple Pies.
Explanation:
As you may well know, the OPPORTUNITY COST of doing something is the gain you would have gotten if you did an alternative.
In this scenario therefore we will be simply answering that Monica would have done if she wasn't making 1 loaf of bread.
Monica takes 2 hours to bake a loaf of bread and 1 hour to bake a pie.
So what would happen if Monica had 2 hours free because she didn't make a loaf of bread?
If it takes just an hour to make an apple pie, Monica now has 2 spare hours so she will be able to make 2 Pies.
Therefore Monica's opportunity cost of making a loaf of bread is 2 Pies.
Answer:
15%
Explanation:
The computation of the internal rate of return is shown below:
Given that
Year Cash Flow
0 -$27,100
1 $11,100
2 $14,100
3 $10,100
The formula to compute IRR is
= IRR()
After applying the above formula, the internal rate of return is 15%
