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3 years ago

Trade-offs force society to make choices, particularly when answering the following three fundamental questions:

Business

1 answer:

joja [24]3 years ago

5 0

Answer:

The correct answer is D. One, what goods and services will be produced? Two, how will the goods and services be produced? Three, who will receive the goods and services produced?

Explanation:

There are two questions in particular that summarize the reason for the economy:

• How do elections determine what, how and for whom goods and services are produced?

• At what point are choices made in pursuit of personal interest promoting social interest?

What, how and for whom?

Goods and services are the objects that people value and produce to meet their needs.

What? It determines the goods and services that are produced as well as the amount that is produced from each good and service.

How? Goods and services are produced using what economists call production factors.

The factors of production are the resources that companies use to produce goods and services. These factors fall into four categories:

• Earth

• Job

• Capital

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Davis Florist has two employees, Anita and Jerome, and two tasks that need to be completed, floral arrangements and floral deliv

OlgaM077 [116]

Answer:

Davis Florist

a. (Anita, Jerome) __Jerome____ absolute advantage in floral arrangements. __Jerome____ (Anita, Jerome) has an absolute advantage in deliveries.

b. Anita’s opportunity cost of making one floral arrangement is ___0.75__

( 1.33, 0.75, .33, 3) deliveries. Anita’s opportunity cost of making one delivery is __1.33_ (1.33, 0.75, .33, 3) floral arrangements.

c. Jerome’s opportunity cost of making one floral arrangement is ___0.33__(.75,3,1.33..33) deliveries. Jerome’s opportunity cost of making one delivery is 3 (3, 1.33, .75, .33) floral arrangements.

d. (Jerome, Anita)_Jerome____ has a comparative advantage in floral arrangements. (Jerome, Anita)__Anita___ has a comparative advantage in deliveries.

e. Suppose that, initially, both Jerome and Anita spend four hours each day doing floral arrangements and two hours each day doing deliveries. Now suppose they change their tasks, so that each individual does nothing but the task in which she or he has a comparative advantage. How many more floral arrangements and deliveries could they produce each day?

____4_____ additional floral arrangements

____5____ additional deliveries

Explanation:

a) Data and Calculations:

Time it takes Anita to finish one floral arrangement = 30 minutes

Time it takes Anita to make a delivery = 40 minutes

Time it takes Jerome to finish one floral arrangement = 10 minutes

Time it takes Jerome to make a delivery = 30 minutes

b) Absolute Advantage: Jerome will finish 3 floral arrangements (30/10), whereas Anita can only finish 1 in 30 minutes.

c) Anita's opportunity cost is the time it will take her to make a delivery using the same time it takes her to finish one floral arrangement. In 30 minutes time, she can only make (30/40) 0.75 deliveries. Using 40 minutes of making a delivery, she can finish 1.33 (40/30) floral arrangements.

d) Anita's comparative advantage in making deliveries is based on her opportunity cost when compared with Jerome's opportunity cost of making deliveries.

Floral Delivery Total hours

Arrangement

e) Total time spent by

Anita 4 hrs 2 hrs 6 hrs

Jerome 4 hrs 2 hrs 6 hrs

Anita Jerome Total

Number of floral arrangements 8 (240/30) 24 (240/10) 32

Number of deliveries 3 (120/40) 4 (120/30) 7

Anita Jerome

Number of floral arrangements 0 36 (360/10) 36

Number of deliveries 12 (360/30) 0 12

4 0

2 years ago

If employees are bonded a. it means that they are not allowed to handle cash b. they have worked for the company for at least 10

Ierofanga [76]

Answer:

c. they have been insured against misappropriation of assets.

Explanation:

A company bonds its employees to protect itself against theft by its workers. Being bonded means securing the money available to customers if a claim is made against the company. Bonding offers compensation to a business should a loss arise through employee's actions.

The law requires companies that handle cash and cash equivalents such as stocks certificates to bond their employees. A company may choose from the various types of bond insurance in the market. For example, employers may use the fidelity bond to protect against employee theft.

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2 years ago

Diversification merits strong consideration whenever a single-business company A. has integrated backward and forward as far as

Gennadij [26K]

Answer:

The correct answer is B.

Explanation:

Diversification is a business strategy in which a company enters a field or market different from its core activity. It is a risk management strategy that mixes a wide variety of investments within a portfolio by allocating capital in a way that reduces the exposure to any one particular asset or risk.

Diversification merits strong consideration whenever a single-business company is faced with diminishing market opportunities and stagnating sales in its principal business.

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2 years ago

A reading researcher does what

Dmitry_Shevchenko [17]

Answer:

They reveal how the author(s) interpreted the findings of their research and presented recommendations or courses of action based on those findings.

Explanation:

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2 years ago

Which career professional sets up, runs, and maintains equipment such as lights? Camera Operator

mylen [45]

I would say camera operator

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3 years ago

Read 2 more answers

Trade-offs force society to make​ choices, particularly when answering the following three fundamental​ questions:

Trade-offs force society to make choices, particularly when answering the following three fundamental questions: