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3 years ago

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

1 answer:

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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On January 1, 2020, a county government sends out property tax bills in the amount of $100,000,000. Of this amount, $15,000,000

Lesechka [4]

Answer:

B. $12,000,000

Explanation:

Hi there!

At the beginning of 2020 we estimate the credits that will be uncollectible and constitute the allowance for uncollectible.

The journal entry:

Debit Credit

Bad debts expense $15,000,000

Allowance for uncollectible account $15,000,000

During the year $88,000,000 was collected and part of the forecast must be reversed since it was overestimated (remember that it was estimated to collect $85,000,000 from the $ 100,000,000)

The jorunal entry:

Debit Credit

Allowance for uncollectible account $3,000,000

Bad debts expense $3,000,000

Allowance for uncollectible account ledger, December 31 2020

<h3>Allowance for uncollectible account </h3>

Debit Credit

$15,000,000

$3,000,000

$12,000,000

4 0

3 years ago

Group of answer choicesThe riskiness of the portfolio is greater than the riskiness of one or two of the stocks. The beta of the

boyakko [2]

Answer:

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3 years ago

A country with a relatively low level of real GDP per person is considering adopting two policies to promote economic growth.The

IceJOKER [234]

Answer:

The correct answer is the letter d. Neither the first nor the second.

Explanation:

GDP (gross domestic product) growth is influenced by various factors, consumption, investment, technology, external sector, etc. The policy of restricting foreign trade by placing barriers to trade has reduced GDP as it burdens one of the drivers of economic growth, for example by reducing exports to the rest of the world and thus GDP. Similarly, restricting foreign portfolio investment contributes to non-GDP growth, as foreign investments play an important role in increasing companies' capitalization, helping them to make more investments. Therefore, both economic policies are wrong.

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4 years ago

Barney Company makes and sells stuffed animals. One product, Michael Bears, sells for $28 per bear. Michael Bears have fixed cos

Karo-lina-s [1.5K]

Answer:

6,250 units

Explanation:

The computation of the number of units that should be sold and produced in order to break even is shown below:

as we know that

Break even point = Fixed cost ÷Contribution margin per unit

Here

Contribution margin per unit = Selling price - Variable costs

= $28 - $12

= $16

So, the breakeven is

= $100,000 ÷ $16

= 6,250 units

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3 years ago

What will happen if the value of the american dollar decreases

SSSSS [86.1K]

Answer:

If the money decreases things will be more harder and more expensive to buy

Explanation:

Pretend you have $10 and something you want is $10 it is easier to buy it when the value of money is higher and if the money is lower than it'll be harder to get $10 to buy the item you want

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3 years ago

Read 2 more answers