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PtichkaEL [24]
3 years ago
13

What do economists mean by​ scarcity? A. Economists mean that trade is not possible. B. Economists mean that unlimited wants exc

eed limited resources. C. Economists mean that production is inefficient. D. Economists mean that the economy is unable to produce increasing quantities of goods and services. E. Economists mean that people are not employed.
Business
1 answer:
Stels [109]3 years ago
6 0

Answer: Option A

Explanation: Scarcity refers to the situation when there is limited availability of a commodity. This term is usually used for the natural resources like coal, drinking water etc.

In economics it refers to the situation when there is not limited quantity of resources available for fulfilling the market demand. Scarcity deals with the problem of limited resources in nature and unlimited wants of the population.  

Hence, from the above we can conclude that the correct option is A.

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expensing the cost of copy paper when the paper is acquired is an example materiality. industry practices. conservatism. expense
sergejj [24]

Expensing the cost of copy paper when the paper is acquired is an example of .Cost constraint.

<h3>What is Cost constraint?</h3>

A cost constraint in accounting occurs when it is excessively expensive to report specific information in the financial statements. The applicable accounting standards permit a reporting entity to forego the associated reporting where doing so would be prohibitively expensive. The purpose of enabling the cost constraint is to prevent firms from paying excessive expenditures to fulfill their financial reporting duties, especially when compared to the benefit received by readers of the financial statements.

Only certain requirements for financial reporting that are mentioned in the accounting standards are subject to the cost limitation. In all other instances, regardless of the underlying cost, financial information must be reported.

To learn more about Cost constraint from the given link:

brainly.com/question/21270823

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4 0
1 year ago
Both the inventory conversion period and payables deferral period use the average daily COGS in their denominators, whereas the
il63 [147K]

Answer:

Explanation:

In business accounting, the inventory conversion period / payables deferral period and average collection period use different inputs due to the fact that Inventory and accounts payable are carried at cost on the balance sheet, whereas accounts receivable are recorded at the price at which goods are sold. Therefore the accounts receivable (average collection period) are attached and dependent on the specific/changing price of the goods sold.

7 0
3 years ago
Blossom Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During
shutvik [7]

Answer:

Prepare journal entries for the transactions noted above.

4 0
3 years ago
those making more than $200,000 are the primary beneficiaries of the home mortgage interest deduction.
netineya [11]

Answer:true

Explanation:

4 0
1 year ago
Fixed Overhead Spending and Volume Variances, Columnar and Formula Approaches
shutvik [7]

Answer:

Fixed Overheads Spending Variance = $5,000 Unfavorable(U).

Fixed Overheads Spending Variance = $20,000  Favorable (F).

Explanation:

Fixed Overheads Spending Variance = Actual Fixed Overheads  - Budgeted Fixed Overheads

                                                              = $305,000 -  $300,000

                                                              = $5,000 Unfavorable(U).

Fixed Overheads Spending Variance = Fixed Overheads at Actual Production  - Budgeted Fixed Overheads

                                                              = ($5.00 × 64,000) - $300,000

                                                              = $320,000 - $300,000

                                                              = $20,000  Favorable (F)

3 0
3 years ago
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