Answer: Economics studies the behaviour of human beings when there is scarcity and choices have to be made.
Explanation:
Economics is a social science i.e study of human behavior in relation to the manufacturing, distribution and consumption of products. Economics focal point is the interaction and behaviour of economic agents (households, firms and governments) and how economies work.
Economics is divided into microeconomics and macroeconomics. Microeconomics deals with the small elements in the economy such as interaction of markets and prices of certain products. Macroeconomics deals with the whole economy and issues discussed include unemployment, economic growth, inflation etc.
Answer:
Explanation:
The journal entries are shown below:
a. Short term notes receivable A/c Dr $5,300
To Service revenue A/c $5,300
(Being the service is provided based on the notes receivable)
b. Short term notes receivable A/c Dr $9,300
To Cash A/c $9,300
(Being cash is paid)
c. Short term notes receivable A/c Dr $4,300
To Account receivable A/c $4,300
(Being 3-month note receivable is accepted which is signed by the customer)
Answer:
The correct answer is option C.
Explanation:
A rightward shift in the demand curve means that at the same price levels, the consumers are demanding more of the commodity. A rightward shift in the demand curve causes it to intersect with the supply curve at a higher point.
The equilibrium point shifts upward. This causes both equilibrium quantity and price level to increase.
A leftward shift, on the other hand, causes the equilibrium price and quantity to decrease.
Answer: Alternative resolution
Explanation: In simple words, alternative resolution refers to the conclusion taken for a dispute after considering the points made by every party involved. In such resolution no party gets full win and everyone gets to compromise a little.
In the given case, after an extensive discussion about the sales promotion techniques, Harry came out with an alternative that suits all the four parties involved.
Hence from the above we can conclude that the given case is an example of alternative resolution.
