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padilas [110]
2 years ago
13

Suppose there is a simple two good economy that produces fish and cars. When the economy increases its production of fish from 0

to 15 tons of fish, it has a relatively small opportunity cost in terms of cars. What is the most likely explanation for this?
Business
1 answer:
Veseljchak [2.6K]2 years ago
7 0

Answer:

The most likely explanation for the relatively small opportunity cost that the economy incurs as a result of increasing production of fish from 0 to 15 tons is that the economy will lose some of the benefits it derives from the production of cars now that more resources have been committed to the production of fish.  It is like a question of not being able to "eat your cake and have it."  Something must give way.

Opportunity cost is an economic cost that an entity or individual bears when it forgoes one option in preference to another.  Once there is a choice between two options, economists will always recognize the forgone benefits from the other option a consequence of the loss.

Explanation:

When economists refer to the “opportunity cost” of a resource, they imply that the value of the next-highest-valued alternative resource will be lost.  This means that a cost is incurred by not enjoying the benefit associated with the best alternative choice.  A consideration of opportunity cost is, therefore, an assessment of the relative risk of each option vis-a-vis its potential returns.

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Becky’s daughter was in the sixth grade and growing very fast. In early fall, her daughter tried on her soccer cleats from the s
olga nikolaevna [1]

Answer:

Purchase decision process

Explanation:

A purchase decision process is defined as the thought process that goes into buying a certain product. This thought process include the buyer identifying a need, creating options, seeing different brands and then finally buying the product.

Purchase decision could be either minor or major. Purchasing things like tea, toothpaste, etc require minor decision processes while buying a house or piece of land involves major decision processes.

As in the question, Becky now has to under purchase decision process as to buying soccer cleats for her daughter. This decision will involve buying a brand that won't shrink as a result of weather changes or wear out easily, etc

I hope this helps.

5 0
3 years ago
Ruston Company had Net Income for 2020 of $6,200,000. The firm invested $4,000,000 in manufacturing equipment during 2020. The e
Aloiza [94]

Answer:

$3,000,000

Explanation:

Calculation to determine the Net Cash Flow in 2020

STATEMENT OF CASH FLOW

For the Year 2020

Cash flow from operating Activities:

Net Income $6,200,000

Add Depreciation Expense $ 800,000

Net Cash provided by operating activities $7,000,000

($6,200,000+$800,000)

Cash flow from Investing activities:

Investment in Equipment ($4,000,000)

Net Cash used in Investing activities ($4,000,000)

Net Cash flow in 2020 $3,000,000

Depreciation under Straight Line method = (Cost - Salvage Value)/Useful Life

Depreciation under Straight Line method= (4000000-0)/5

Depreciation under Straight Line method= 800,000

Therefore the Net Cash Flow in 2020 is $3,000,000

4 0
3 years ago
Write a short essay listing three jobs you believe would be right and good for you.
soldier1979 [14.2K]

Answer:

I  believe following three jobs would be best for you

1: University Lecturer

2: Market Researcher

3: Marketing Consultant

Explanation:

1: University Lecturer

I am very good student and have strong grip over different academic concepts, I always have stood first in my class. I always got Distinction in my college. Moreover, I am very good at giving presentation, theretofore, I definitely believe that I can perform very well in teaching at the university level.

2: Market Researcher

I am very good at conducting research. I have conducted couple of market researches like measuring brand loyalty of Pepsi, Coke and Aquafina etc. Therefore, this job would be right and good for me.

3: Marketing Consultant

I can work as an independent Marketing Consultant and provide different Marketing expertise  to clients, including SEO (search engine optimization - related to google), content Marketing and mobile marketing. I am very much proficient in this field as well, so this also can be right and good job for me.

3 0
2 years ago
On June 30, 2021, the Esquire Company sold some merchandise to a customer for $66,000. In payment, Esquire agreed to accept a 8%
umka21 [38]

Answer:

Esquire Company

Date                            Particulars                  Debit           Credit

30 June                   Accounts  Receivable            $ 66,000

                                         Sales                $ 66,000

On June 30, 2021, the Esquire Company sold some merchandise to a customer for $66,000.

31 Mar                 Note Receivable         $ 66,000

                                  Account Receivable                  $ 66,000

Esquire agreed to accept a 8% note requiring the payment of interest and principal on March 31, 2022.

31 December   Notes Receivable                       $ 66,000

                                Interest Receivable               $ 3960

                                            Sales                           $ 66,000

                             Interest Revenue                          $ 3960

To record the accrued interest earned. $66,000*8%= $ 5280. As it is for nine months the amount would be $ (5280/12)*9= $ 3960

31 March                  Cash                $ 71,280

                                              Interest Income $ 5280

                                                      Notes Receivable $ 66,000

March 31, 2022 collection of Note receivable and interest accrued.                    

2. The income will be understated by an amount of $ 3960 in 2021 if an adjusting entry is not made on Dec 31 of accrual interest.

The adjusting entry on 31st December 2022 of the interest accrual will not be required as interest has been received on March 31st 2022.

The income will be understated by $ 5280 in 2022 if an adjusting entry is not made on Mar 31st 2022 of the interest received.

8 0
3 years ago
2020 Under what conditions is it ethically defensible to outsource production to the developing world where labor costs are lowe
fomenos

Answer:

Morally, how about we start with business morals. Extensively business morals spin around progressively the estimation of the business to investors or partners (contingent upon the type of private enterprise). In the event that redistributing work diminishes costs and converts into expanded benefits for the organization, that is sufficient to consider it in accordance with the all-encompassing order of the business whether or not there is a decrease in cost for the buyer.  

Is it morally wrong to use innovative advances to build creation productivity when request in a market is generally inelastic? Cultivating used to be 40% of American employments. Presently it's generally 2% but then out creation has developed.  

Long haul the pulverization of a class of business is regularly counterbalanced by the formation of another classification the requires increasingly psychological assets. Actually, whole new enterprises can be made. So it is additionally not so much exact to restrict your view to simply the individuals who are dislodged from their occupations. It is completely conceivable that the net impact on the economy is sure.  

Be that as it may, again morals are increasingly emotional and have to do with the type of private enterprise to which one buys in, political way of thinking, and perspective on social duty of business.

7 0
3 years ago
Read 2 more answers
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