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3 years ago

Use the following classification to determine which category each of the following goods falls into.

Business

1 answer:

valkas [14]3 years ago

5 0

Answer:

When a good is said to be Excludable, it means that it's access can be restricted to being used by only a certain number of people.

Similarly Non-Excludable is the opposite.

And when a good is said to be Rival in Consumption, it means that when it is used, it reduces the chances of other being able to use the good because it is being depleted.

Non - Rival means the opposite.

Public Goods

These goods are said to be Non-Rival and Non - Excludable. Their use by one person does not deplete it for another and it's access cannot be restricted to certain people.

Private Goods

These Goods are both Rival and Excludable.

Club Goods

These goods are Non-Rival in nature, but they are Excludable.

Common Resource

These are Rival goods but they are Not - Excludable.

Public swimming pools with free admission during summer. - <em>Common Resource </em>

Public Pools are rival goods because when they are used by people, the quality reduces and more treatment or water will have to be added to maintain it. It is Non-Excludable however because it is open to all with free entrance.

Flood control - <em>Public Good </em>

Flood control is a state sponsored program aimed at helping everyone in the country or rather the affected area. It is non-excludable and non-rival in nature.

Private security patrol with idle officers - <em>Club Resource </em>

This is a club resource because the security provided is non - rival in that it does not get depleted. However because they are private, they only protect certain people which makes it Excludable in nature.

Public basketball courts - <em>Common Resource </em>

Anyone can use Public Courts thereby making them Non-Excludable. However, the more people that use the courts, the more damaged it gets making it Rival in nature.

Flu vaccine - <em>Private Good </em>

Flu vaccines are Rival in Consumption in that every flu vaccine given to one person reduces the amount of flu vaccine available for others. It is also Excludable because not all people get it as it is free up to a certain age and then has to be paid for.

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Which of the following positions is primarily responsible for raising capital and investing funds?A) The treasurerB) The COOC) T

Ede4ka [16]

Answer: <em>Option (A) is correct.</em>

Explanation:

A treasurer is known as a an individual who is responsible for working the treasury of a/an firm/organization. The compelling main functions of an organizations treasurer usually include liquidity and cash management, corporate finance and risk management. They are also primarily responsible for increasing capital via issuing bonds, stocks and investing funds. They tend to report back to CFO.

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3 years ago

In a perfectly competitive market, a. every seller tries to undercut the prices charged by its rivals. b. every seller takes the

Shkiper50 [21]

In a perfectly competitive market, every seller takes the price of its product as set by market conditions.

<h3>What is a Perfect Competitive Market?</h3>

Perfect competition is an ideal type of market structure where all producers and consumers have full and symmetric information and no transaction costs. There are a large number of producers and consumers competing with one another in this kind of environment.

Perfect competition is a market structure where many firms offer a homogeneous product. Because there is freedom of entry and exit and perfect information, firms will make normal profits and prices will be kept low by competitive pressures.

<h3>What are some examples of Perfectly Competitive Markets?</h3>

3 Perfect Competition Examples

Agriculture: In this market, products are very similar. Carrots, potatoes, and grain are all generic, with many farmers producing them.
Foreign Exchange Markets: In this market, traders exchange currencies.
Online shopping: We may not see the internet as a distinct market.

Thus, we can say that the correct option is B.

Learn more about Perfectly Competitive Markets on:

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1 year ago

suppose the fimrs hires each unit of labor for $700 per week, and each unit of output sells for $9. How many workers will the fi

rusak2 [61]

Answer:

The question is missing the amount of output units that each additional unit of labor generates, but we can calculate how many units each additional unit of labor should produce in order to maximize profit.

In order for a firm to maximize its profit, the marginal revenue product (MRP) = marginal cost (MC).

MRP = output units per additional unit of labor x price per unit = U x $9

MC = $700

U x $9 = $700

U = $700 / $9 = 77.78, so we round up to 78 units

In order to maximize profit, each additional unit of labor must generate 78 additional units of output.

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3 years ago

Specific data such as age, income, family size, and occupation, used for marketing purposes, is called A. demographics. B. the t

kirill [66]

Answer:

A. demographics

Explanation:

"Demographics" refers to the groups that people can be separated in to based on different factors such as those listed (age, income, family size, occupation, etc).

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3 years ago

The __________ Rate is the interest rate the Fed charges banks and thrifts to borrow to meet the reserve requirement.

adoni [48]

Answer:

Federal funds rate

Explanation:

The federal funds rate is the interest rate at which depository institutions (banks and thrifts) lend reserve balances to each other to meet reserve requirements.

Reserve requirements are the amount of funds required by the central bank that banks should keep as reserves to meet liabilities

the Federal funds rate is currently maintained at a range of 0% to 0.25%

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3 years ago