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Firlakuza [10]
3 years ago
5

Why scarcity and choice are basic economic problems faced by every Society??

Business
1 answer:
Ksju [112]3 years ago
3 0
The basic economic problem is that of scarcity and choice. This is because people have infinite wants in the face of limited resources, therefore decisions have to be made. The basic economic problem ensures that every society has to decide what to produce, how best to produce it, and for whom to produce it.
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2 years ago
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From the point of view of economics, information systems technology can be viewed as a factor of production that can be substitu
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Answer: True

It can be replaced by traditional systems, however, it is not the most appropriate, because information systems help us organize information about a company so that it can be good for reading, analyzing and making decisions, if it does not comply with these principles then we can say that the company is becoming a bit more inefficient.

Traditional systems work, however, in terms of information systems, we can also have the decrease in information errors, so it is important that they be as automated as possible.

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3 years ago
Joe met with all of his department heads to listen to their opinions about buying a new machine. Although they all thought it wa
balandron [24]

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A. Democratic

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Leadership is art of guiding & motivating a group of people to achieve a common goal.

Democracy is form of governing based on considerate importance to all people's opinion in group. It is opposite of 'autocratic' governing where leader has immense power & takes decision based on only own opinion.

Joe is considering opinion of all the members of organisation, while taking a decision of purchasing a machine. He paid attention to not only opinion of department heads, but also opinion of other employees. Despite of he & department heads perceiving it to be a good idea, employees considered it to be unnecessary. Thereafter Joe didn't purchase the machine. So, his decision encompassing all people's opinion depicts Democratic Leadership.

6 0
3 years ago
One way to make it easier to track your progress toward success is A. offer stock to the public. B. improve your product. C. to
jok3333 [9.3K]
The correct option is D.
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Jolene is opening a doggy daycare named "Little Barks." She is leaving her current job where she makes $75,000 per year in order
brilliants [131]

Answer:

Accounting profit is the difference between total revenue and accounting cost in which the accounting cost is containing only the explicit cost incurred. Economic profit is the difference between total revenue and total opportunity cost, the latter containing both the explicit cost and the implicit cost incurred.

Accounting profit = revenue - explicit cost

Accounting profit = 125,000 - (10000 + 20000)

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Economic profit = accounting profit - implicit cost

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Economic profit = 15,000

This implies that while accounting profit does not undertake implicit cost of economic activity (cost for which no explicit payment is made separately), economic profit does deduct them. Now economic profit is positive, Jolene should open Little Barks.

6 0
3 years ago
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