Factors of production are the parts of the economy that: c. are necessary for creating goods and services.
Option C
Answer:
b. the equilibrium quantity of cigarettes smoked will be greater than the socially optimal quantity of cigarettes smoked.
Explanation:
A negative externality occurs when the costs of economic activities to third parties not involved in economic activities are greater than the benefits.
Negative externality are usually overproduced in the economy. so, the equilibrium quantity of cigarettes smoked will be greater than the socially optimal quantity of cigarettes smoked.
Answer:
D. $460,500
Explanation:
Given that
Cost of parcel of land = 450000
Legal fees = 3000
Broker's fees = 7500
Therefore,
Amount recorded as cost of parcel of land is
Cost of parcel of land + legal fees + brokers fee
= 450000 + 3000 + 7500
= $460,500
When purchasing land, fees like commissions, legal fees, bank fees, title fees and other expenses added before the land can be used are considered as part of the land's cost. Hence the answer.
Answer: Trade associations are non-profit organizations whose primary purpose is to <u>provide different learning tools for businesses in a particular industry.</u>
Answer:
Both cover an unexpected loss of income.
Explanation:
Both life insurance and disability insurance protect personal finances during a disaster. Life insurance pays beneficiaries when the insured dies. Disability insurance compensates for lost income when one is unable to work as a result of injuries.
Life and disability insurance policies are about financial loss protection. Life insurance protects the insured's beneficiaries against financial loss when the insured dies, while disability insurance covers the insured against any financial loss due to the inability to work.
