Answer:
Opportunity cost
Explanation:
Opportunity cost is the sacrificed benefits in decision making. Making a decision involves selecting one option from several choices. The forfeited advantage from the next best alternative is the opportunity cost.
Monica has chosen to join college. She has sacrificed her job at the supermarket to make time for college. Her forfeited weekly pay from her job is the opportunity cost for joining college.
Answer:
$2960 yearly savings
Explanation:
From the values given and from mathematical manipulation, he or she needs a contribution of at least $2900 every year in order to achieve his goal of $50,000.
EXPLANATION
- If the child is 5yr old now, in 13years time, she will be 18yr old.
- for the next 13years, it would have amount to $38350
- remember the bank will give an annual interest rate of 2%
- so for 13years, that's 26% = 0.26
- In the 13th year, he would have saved $38350, add the 26% interest for the duration of 13years = 26% x $38350 + $38350 = $48321
- His savings will fall between $2950 - $2960 yearly.
Answer:
To pay for groceries
Explanation:
Personal loan is a type of unsecured loan which a person takes to fulfill his basic daily financial needs. And it is quite flexible, means the borrower is free to use as per his/her need. For example, travelling costs, groceries, medical emergencies, home renovation etc.
If a store runs a sale on a product to clear out its stock, we can conclude that there was a surplus of the product in the<u> </u>store.
When a product's supply and demand diverge, or when a small number of buyers are willing to pay more than the vast majority of buyers, there is a surplus. In theory, there should be neither a surplus nor a deficit of a good when it is sold for a fixed price that everyone is willing to pay.
Product surplus is the region that is above the supply level and below the equilibrium price.
To know more about surplus, click here:-
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