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3 years ago

The study of how people choose to use scarce resources to satisfy their wants and needs

Business

1 answer:

NeTakaya3 years ago

5 0

Answer:

Economics

Explanation:

Economics is the study of the activities that individuals and society undertake to satisfy their unlimited wants using scarce resources. Economics involves analysis of the production of goods and services, their distribution and consumption in a country. It involves the study of how individuals, firms, and the government allocates scarce resources to meet the need of society.

Economics is categorized in microeconomics and macroeconomics. Microeconomics concentrates on the key economic indicators such as demand, supply, and income and how they affect an individual, firm, or product. Macroeconomics studies the economic conditions in a country as a whole. It is concerned with issues such as inflation, Unemployment rate, and GDP

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Individual Retirement Accounts (IRAs) allow people to shelter some of their income from taxation. Suppose the maximum annual con

Ierofanga [76]

Answer:

(a) This change in the tax treatment of saving causes the equilibrium interest rate in the market for loanable funds to DECREASE and the level of investment spending to INCREASE.

The supply of loanable funds will increase, therefore, the equilibrium price (interest rate) will decrease.

(b) An investment tax credit effectively lowers the tax bill of any firm that purchases new capital in the relevant time period. Suppose the government repeals a previously existing investment tax credit.

The repeal of the previously existing tax credit causes the interest rate to DECREASE and the level of investment to DECREASE.

The demand of loanable will decrease, therefore, decreasing the equilibrium price (interest rate).

(c) Initially, the government's budget is balanced, then the government responds to the conclusion of a war by significantly reducing defense spending without changing taxes.

(d) This change in spending causes the government to run a budget SURPLUS, which INCREASES national saving.

(e) This causes the interest rate to DECREASE, and the level of investment spending to INCREASE.

Since the government has extra money, it can use it to pay existing debts or finance themselves without having to issue new debt. Since the demand for loanable funds decrease, the interest rates will fall.

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3 years ago

Starting from a full-employment equilibrium, an increase in aggregate demand ______, and creates ______ gap.

zavuch27 [327]

Starting from a full-employment equilibrium, an increase in aggregate demand increases, and creates an inflationary gap.

In an economy, the total quantity of demand for all finished goods and services is measured as aggregate demand. A measure of aggregate demand is the total amount of money spent on certain goods and services at a particular price level and period.

The entire demand for products and services at any given price level throughout a specific period is referred to as aggregate demand in macroeconomics. Since the two indicators are derived in the same way, aggregate demand over the long run equals gross domestic product (GDP). A country's gross domestic product (GDP) reflects all the products and services that are produced there, whereas aggregate demand refers to consumer demand for the same goods.

Learn more about Aggregate demand, here

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1 year ago

Two of the biggest products the United States receives from other countries are

SOVA2 [1]

Importation is the term used to describe the act of buying and securing goods from another country.

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2 years ago

Kelly inherits land that had a basis to the decedent of $95,000 and a fair market value of $50,000 on August 4, 2019, the date o

expeople1 [14]

Answer:

A. ($1,000).

Explanation:

In the question, it is given that the fair market value of the land is $49,000 and the selling value is $48,000. So, in the given situation the selling value of the land is less than the fair market value which reflect the loss of $1,000

The $1,000 is come by subtracting the selling value and the fair market value

All other information is not relevant for the computation part. Hence, ignored it

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3 years ago

An attractive industry is one that is characterized by high entry barriers, suppliers and buyers with strong bargaining power, l

lord [1]

Answer:

False.

Explanation:

An attractive industry are not one that is characterized by high entry barriers, suppliers and buyers with strong bargaining power, low threats from substitute products, and low rivalry among firms.

An industry is defined by a group of firm that produce good and service, which are close subtitute and bargaining power of supplier are not considered as entry barrier to a firm in the open market. Industry with high fixed cost can pose high degree of rivalry among firm.

5 0

3 years ago

The study of how people choose to use scarce resources to satisfy their wants and needs​

The study of how people choose to use scarce resources to satisfy their wants and needs