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3 years ago

A basic concept in economics is that all resources are scarce. Allocated. Valuable. Renewable.

Business

2 answers:

DIA [1.3K]3 years ago

7 0

A basic concept in economics is that all resources are scarce.

<h3><u>Explanation:</u></h3>

There are wants, needs and desires that are unlimited in nature with respect to humans. Resources are very essential for the survival of human beings. The distribution of these scare resources is studied by the Economics. Free goods refer to those goods that come without any cost associated with that.

The resources that are available naturally is scarce because there are only finite quantity available for the utilisation. Some of the examples of scarce resources include raw materials, workers, etc that are very essential for the production of the scarce goods.

maksim [4K]3 years ago

3 0

Answer: scarce

Explanation: edg 2020

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3 years ago

What’s dangerous about taking out a payday loan?

vagabundo [1.1K]

Answer:

the main danger with taking out a payday loan is that you may quickly get trapped in a cycle of debt ,although altho payday loan is normally for a fairly low sum of money, such as £200, it is easy to get trapped in a cycle of taking a new loan out every month to cover the same or increased shortfall

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3 years ago

Technoid Inc. sells computer systems. Technoid leases computers to Lone Star Company on January 1, 2013. The manufacturing cost

Taya2010 [7]

Answer:

b. $3,115,234

Explanation:

Opening Balance as on 01.01.2013 $21,000,000

Less: Payment of First Instalment on 01.01.2013 <u>$3,002,038</u>

Net Balance as on 01.01.2013 $17,997,962

Add: Interest at 9% up to 30.06.2013 $1,619,816

Less: Payment of 2nd instalment on 30.06.2013 <u>$3,002,038</u>

Balance as on 01.07.2013 $16,615,740

Interest at 9% up to 31.12.2013 $1,495,417

Total interest revenue to be reported on the lease during the calendar year 2013 = $1,619,816 + $1,495,417 = $3,115,234

7 0

3 years ago

Moss and Barber organize a partnership on January 1. Moss’s initial net investment is $75,000, consisting of cash ($17,500), equ

Olegator [25]

Answer:

journal entries are as given below

Explanation:

solution

journal entries are as

first we get here investment by Moss

date account title debit credit

January 01 cash $17500

equipment $82500

note payable $25000

Angela Moss capital $75000

and now we get investment by barber

date account title debit credit

January 01 cash $31250

autumn barber capital $31250

4 0

3 years ago

Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $217,200 of raw materials on credit

sukhopar [10]

Answer:

The cost of product transferred to Finished Goods Inventory is $450,100

Explanation:

The computation of the cost of the product transferred to Finished Goods Inventory is shown below:

= Beginning Work in Process Inventory + direct material + direct factory payroll + overhead cost - Ending Work in Process Inventory

where,

Direct material = Total material - indirect material

= $211,000 - $34,800

= $176,200

Direct factory payroll = Total factory payroll - indirect labor

= $159,600 - $44,800

= $114,800

Overhead cost = 150% of direct labor cost

= 150% × $114,800

= $172,200

The other items values would remain the same

Now put these values to the above formula

So, the value would equal to

= $17,100 + $176,200 + $114,800 + $172,200 - $30,200

= $450,100

7 0

3 years ago