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Viefleur [7K]
2 years ago
7

Summary and reflection ....how can we manage the problem of scarcity ?

Business
2 answers:
Effectus [21]2 years ago
7 0

The main thing we can do to manage the problem of scarcity is to not overspend.

Scarcity happen when the number of demand in our society heavily outnumber the amount of  resources available. By observing our consumption behavior today, we will notice that a lot of people spend money to buy more goods or services that they actually need.

If we control this overspending behavior, not only people who overspend can save some of their money, there will be a lot of goods/services left for other people.

maksim [4K]2 years ago
3 0

Answer:

There are three, and only three, options for society to deal with scarcity, and all societies must deal with scarcity because there are limited resources and unlimited wants.

Those three options are:

  1. <u><em>Economic growth</em></u>
  2. <u><em>Reduce our wants</em></u>
  3. <u><em>Use our existing resources wisely </em></u>

<u><em /></u>

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The following selected transactions were completed by Fasteners Inc. Co., a supplier of buttons and zippers for clothing:
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<u>Solution and Explanation:</u>

The following journal entries will be passed in the book sof fasteners Inc., Co., which is a supplier of buttons and zippers for clothing

Date        Accounts Titles and Explanation  Post Ref    Debit  Credit

1 Nov-21  Notes receivable                                      $ 72,000  

      Accounts receivable-McKenna Outer Wear Co.        $ 72,000

2  Dec-31  Interest receivable (72000 * 9 \% * 40 / 360)    $720  

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3  Jan-20  Cash                                           $ 73080  

 Interest revenue (72000 * 9 \% * 20 / 360)         $360

 Interest receivable                                          $720

 Notes receivable                                               $72,000

Note: the figures have been calculated and rounded off in the nearest dollar amount.

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3 years ago
Ivanhoe, Inc. received the following information from its pension plan trustee concerning the operation of the company's defined
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Answer:

The pension expense for 2021 = $543,500

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Service cost = $523,000

Amortization of prior service cost = $113,000

Settlement rate = 11%

Projected benefit obligation = $1,450,000

Accumulated benefit obligation = $3,600,000

Note: The necessary calculations are in the table attached as a file to this solution.

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The method of acquiring knowledge by authority is one of the most widespread ways of obtaining knowledge in society. It is characterized as the implementation and learning of a new idea or belief because some authority figure affirmed a certain concept as true, which ensures greater reliability. and acceptance. As examples of authorities, we can mention: doctors, teachers, bosses, government, parents and others.

But in an ideal scenario it is important to analyze what methods and sources the authority figures have determined for a conclusion about something, one should seek to exercise critical sense to rationalize the beliefs and decisions that are imposed as truth. .

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