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siniylev [52]
2 years ago
7

How do the choices we make both producers and consumers help us with scarcity?

Business
2 answers:
marshall27 [118]2 years ago
8 0
Scarcity refers to the gap between limited resources and theoretically limitless wants. Scarcity affects producers because they have to make a choice on how to best use their limited resources. On the other hand, it affects consumers because they have to make a choice on what services or goods to choose. 
user100 [1]2 years ago
7 0

Answer:

Producers can choose fair prices and according to the consumer's income capacity, to avoid shortages. The consumer, on the other hand, can choose to consume various products and services.

Explanation:

In the economy, the term "shortage" refers to a situation in the market where a product has a very high demand and a very small supply in relation to that demand. As a result, this product, or service, does not appear on the shelves of the market becoming ezcasso. We have an example of this, occurring at that moment with the shortage of alcoholic gel products.

To avoid this shortage it is necessary for producers to offer a fair price for their products, in addition to increasing their production. On the other hand, consumers must consume the same product from different brands, in addition to not buying more than necessary.

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How Central Bank control the activities of the Commercial Bank?
pishuonlain [190]

The Central Bank is the "banker" to banks, government, and financial institution, where the Commercial Bank is the "banker" to the citizens. The Central Bank is the monetary authority of the country. The Central Bank does not deal with the general public, but Commercial Bank does

7 0
3 years ago
Why might legal rules be insufficient for fulfilling one’s ethical responsibilities? Research current events to identify and bri
Sidana [21]

Legal norms and ethical norms are not same and sometimes not agreeable also. Some ethical norms may be wrong legally but some legal norms may be wrong ethically.

<u>Explanation:</u>

The law is set of rules that guide our conduct in society and enforceable through public agencies. For business environment, law provides important guide to make ethical decision making. But sometimes the norms which are ethically right are illegal and sometimes legal norms are unethical.

The example of cases which are ethically right but legally wrong are cheating in taxes or driving over the speed limit or spitting by the road side. The example of cases which are ethically wrong but legal right are falsifying financials, misleading markets and many more.

4 0
3 years ago
XYZ Corporation, whose common stock is currently selling for $40 per share, is having a rights offering. The terms of the offeri
____ [38]

Answer:

$0.45

Explanation:

Computation for the theoretical value of a right before the ex-rights date

Using this formula

Theoretical value=(Common stock-Required offering subscription shares)÷(Offering require right+1)

Let plug in the formula

Theoretical value= ($40 ‒ $35) ÷ (10+1)

Theoretical value= $5.00 ÷ 11

Theoretical value=$0.45

Therefore the theoretical value of a right before the ex-rights date will be $0.45

3 0
2 years ago
Diversity of the planning group: A. Requires the group leader to control of decision making and action planning. B. Makes it dif
lana66690 [7]

Option C. Diversity of the planning group: Often results in more comprehensive and creative planning.

<h3>What is diversity?</h3>

This is the term that is used to refer to a group that is made up of people that are from different cultures, areas and fields.

In such a group there is the tendency for creativity if they are able to work together and share ideas.

Read more on diversity here:

brainly.com/question/7170490

#SPJ1

8 0
1 year ago
AccuBlade Castings Inc. casts blades for turbine engines. Within the Casting Department, alloy is first melted in a crucible, th
mixer [17]

Answer:

AccuBlade Castings Inc.

Casting Department

a. Journal Entries for:

1. The materials charged to production:

Debit WIP $350,000

Credit Raw materials $350,000

To record the cost of materials charged to production.

2. The conversion costs charged to production:

Debit WIP $49,600

Credit Direct Labor $19,840

Credit Manufacturing overhead $29,760

3. Debit Machining Department $402,827

Credit WIP $402,827

To record the transfer of completed units to the machining department.

b. Work-in-Process - Casting Department balance = $29,616

c. The change in the costs per equivalent unit for direct materials and conversion from April:

                                                 Direct Materials              Conversion

April cost per equivalent unit        $132.00                    $18.00

May cost per equivalent unit         $139.33                    $19.89

Change in cost per equivalent unit  $7.33 increase       $1.89 increase

The cost per equivalent unit increased in both direct materials and conversion for May when compared to April's.

Explanation:

a) Data and Calculations:

                         Units

Beginning WIP    230

Started             2,500

Transferred     2,530

Ending WIP        200

Equivalent units of production:

                         Units  Direct Materials  Conversion

Transferred  2,530       2,530 (100%)    2,530 (100%)

Ending WIP     200           200 (100%)         88 (44%)

Total equivalent unit    2,730                 2,618  

Cost of production:

                       Direct Materials             Conversion               Total

Beginning WIP$30,360 (230*$132)   $2,484 (230*60%*$18)  $32,844

Started           350,000 (2,500*$140) 49,600 (2,500*$19.44) 399,600

Total costs    $380,360                    $52,084                         $432,444

Cost per equivalent unit:

                                   Direct Materials      Conversion

Total costs                        $380,360            $52,084

Equivalent units                   2,730                 2,618

Cost per equivalent unit   $139.33              $19.89

Allocation of production costs:

                                       Direct Materials                Conversion              Total

Units transferred out  $352,505(2,530*$139.33) $50,322 (2,530*$19.89) $402,827

Ending WIp                      27,866(200*$139.33)        $1,750 (88*$19.89) $29,616

Total costs                  $380,371                             $52,072                    $432,443

7 0
3 years ago
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