<span>Option correct is C. Governors. The Federal Reserve System is a reserve system governed by an autonomous and private entity that controls the organizational structure that is overseen by a government agency, called the Board of Governors, located in Washington D.</span>
Answer:
The opportunity cost is the cost that is generated by selecting some other alternative. The opportunity cost indicates the value or activity that is foregone to do something else.
In our case, me and my friend decided to go on a concert and concert ticket price is $100.
There are other three alternatives available for me and my friend other than concert:
(i) purchase a textbook worth of $100.
(ii) meal at a highly rated local restaurant
(iii) internet movie downloads
It was given that my next best alternative to the concert is internet movie downloads and my friend's next best alternative to the concert is meal at a highly rated local restaurant.
Hence,
The opportunity cost for me and my friend of the concert tickets that we purchased are internet movie downloads and meal at a highly rated local restaurant, respectively.
Answer:
The correct answer would be option D, Consumers.
In the game of economics, producers get information they need to determine how much people are willing to pay for a good or service from Consumers.
Explanation:
In the game of economics, consumers are the ones who will consume the products produced by the companies/producers, and they are the ones who will determine how much they are wiling to pay for a good or service.
For example, if a product's price is set at 5 dollars but no one is willing to pay 5 dollars for that product, then producers have to lower the prices to meet the customers' demands, and to sell their products.
So in this way, customers determine the prices of the products.
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Answer: The answer is given below
Explanation:
Information Systems are the networks of both the hardware and the software which is used by economic agents to collect, process, create and help in the distribution of data.
Information Technology (IT) flattens organizations simply means that information systems can help in the reduction of the levels in an organization through the provision of information to managers which will be used in the supervision of other emoloyees and also, lower-level employees could be given more authority relating to decision-making.
Since decision making has been pushed to lower level then fewer managers will be needed. This ensures that faster decision making are made and there's increase in the span of control.
<span>If your seller cost is $8.00 and the price ceiling is $7.00, you will: </span>Be unable to sell a book for a profit
Seller Cost refers to the total expense that you have to pay until the product is distributed, while price ceiling is the maximum price imposed by the Government for the product.
The only way for you to obtain profit in this situation is if you could reduce the total operational expense.
