Answer:
D. Society and its individuals have unlimited wants.
Explanation:
Economics can be defined as the study of how to use scarce or limited resources to meet the unending needs and wants of the consumers.
One of the basic principles of economics is that society and its individuals have unlimited wants because humans are generally insatiable. Therefore, we are left with the option of choosing (choices) because we cannot have all that we desire or want and the resources used to meet the demands are scarce or limited.
Generally, Economics can be classified into two (2) categories, namely;
1. Macroeconomics can be defined as the study of behaviors, performance and factors that affect the entire economy. Hence, it focuses on aggregate phenomena such as price level, economic growth, Gross Domestic Product (GDP), inflation, unemployment and national income levels with respect to the central bank, demand or supply shocks, government policies, aggregate spending and savings.
2. Microeconomics can be defined as the study of the effect of price and quantity levels through interactions between individual buyers and sellers in various markets.
Hence, it is focuses on analyzing or evaluating the decisions of consumers (buyers) and those of firms (sellers) such as methods of production, pricing; and the manner in which government policies affect those decisions.
Answer:
Break even point will be 50 units
So option (D) will be correct answer
Explanation:
We have given fixed cost = $10000 per year
Variable cost is $50 per unit
Selling price = $250 per unit
We have to find the break even point for the operation
We know that break even point is equal to
Break even point
So break even point will be equal to 50 units
So option (D) will be correct answer
Answer:
The correct answer is $7,500
Explanation:
So, the hiring cost would be:
Hiring quater × hiring cost
= 300 × $20
= $6,000
Firing Cost would be:
Firing cost = 100 × $5
= $500
= 200 × $5
= $1,000
Therefore, the total hiring and firing cost = $6,000 + $500 + $1,000
= $7,500
Answer:
3.82 times
Explanation:
The computation of times interest earned ratio is shown below:-
Bond Interest charges Earned = Bond Value × Interest Rate
= $1,459,536 × 8%
= $116,762.88
Net Income before Interest = Net Income Income Before Interest + Interest
= $328,796 + $116,762.88
= $445,558.88
Number of times bond interest charges were earned = Net Income before Interest and taxes ÷ Interest charges
= $445,558.88 ÷ $116,762.88
= 3.82 times