Answer:
The correct answer is letter "A": magnified, reduced.
Explanation:
Scarcity does not only represent individuals having to sacrifice some of their needs to fulfill others because resources are limited. Scarcity can also represent the reason for dispute between social levels. When resources are scarce and one social stratum has more access to it, differences will increase. The opposite happens when the resources are allocated properly between them: differences are likely to be reduced.
Answer:
The correct answer is option D.
Explanation:
An increase in the cost of fishing will lead to a decrease in the supply of fishes. This happens because the suppliers will be able to supply less at the same cost.
So the supply curve will move to the left. This leftward shift in the supply curve will cause the equilibrium price to increase and the equilibrium quantity to decrease.
All the other options would have caused the equilibrium quantity to increase either through increased demand or increased supply.
Answer:
The price elasticity of supply is 1.22
Explanation:
Please refer to the attached file
Answer:
The equivalent units for conversion costs= 6,912 units
Explanation:
<em>The weighted average method of valuation would be used to determine the the equivalent units for conversion costs</em>
<em>Under the weighted average method of valuation, to account for completed units, it is assumed that the entire degree of work required is done in the period under consideration. So there is no separation of the completed units into opening inventory and fully worked. </em>
Equivalent unit = Degree of completion × Units of inventory
<em>Items units Equivalent unit</em>
Completed unit 3,300 3,300× 100 = 3.300
Closing work in progress 4,300 4,300× 84%= <u>3,612
</u>
Total equivalent units <u>6,912
</u>
The equivalent units for conversion costs= 6,912 units
Answer:
all of the above
Explanation:
When outcomes are uncertain, a manger must recognise and describe the risks involved. After identifying the risks, the risks must be evaluated to determine the extent of the risk and how the risk would affect the business. After the risks have been evaluated, the risk should be managed. For example, by taking insurance.
For example, if a manager wants to purchase a machine,
the manger has to identify the risks involved : the machine can be stolen, it can injure workers or it might not produce the desired effect
The manger must then evaluate the risks. The risks can be evaluated using capital budgeting methods. e.g. NPV
The manger can manage the risk by taking out insurance
