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2 years ago

Property rights are theoretical elements in economics for determining how a resource is used and owned. Resources can be

1 answer:

8 0

There are four parts to property rights are namely the right to use the good, the right to transfer the good to others, the right to enforcement of property rights, and the right to earn income from the good .

Option C

<u>Explanation: </u>

Property rights are abstract and legally regulated legal buildings for deciding which property or economic goods are used and held. Property rights may be owned by (and therefore belong to) individuals, organizations, collectives. This characteristic comprises four wide elements and is frequently called a bundle of rights.

The right to make use of the good
The right to earn an income from the good
The right to transfer the good to someone else, change it, give up it or destroy it (the right to cease ownership)
The right to implement property rights.

Throughout economics, the land is normally considered to be owned by an asset or good (rights on the income obtained from property). In fact, several economists argue that ownership rights must be fixed and relations between other parties represented in order to be more efficient .

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If a family spends its entire budget in a given time frame, the family can afford either 80 cans of beans or 35 frozen pizzas. A

Fofino [41]

Answer:

7/16

Explanation:

Opportunity cost is the cost of the alternative forgone. It is also called the real cost. It is a concept in economics developed due to the fact that wants are unlimited but the resources available to meet the wants are limited. Hence a scale of preference would be drawn up for the wants in order of importance.

If the family can afford either 80 cans of beans or 35 frozen pizzas, the cost of a can of beans in terms of frozen pizza is 35/80 frozen pizza while the cost of a unit of frozen pizza in terms of beans is 80/35.

As such, the opportunity cost of one can of beans in terms of frozen pizza is 35/80 which is 7/16 in the lowest term

6 0

3 years ago

Uber is a tech company that connects its mobile phone app users who have a trip request with nearby Uber drivers who use their o

Liula [17]

Answer:

1. The price for Uber services increases.

2. The quantity of Uber services sold increases.

Explanation:

As the college students use the uber so here the number of students are rised up that means the demand is more when the semester is started i.e. the price is more

Also the uber has one attribute i.e. surge pricing which represent the law of demand and the supply. In the case when the demand is more or the supply is less the price would increase

So overall the price and the quantity should increased

6 0

2 years ago

On May 1, Study and Burrow, two college professors, entered into and oral contract under which study agreed to sell his computer

nasty-shy [4]

Answer:

Check the following explanation

Explanation:

a) Usually a contract has the following elements:

Offer .

Acceptance .

Consideration .

Intention to create a legal relationship .

In the given case, the intention to create a legal relationship is missing. Though Study had sent a written legal contract to Burrow to affirm the contract, Burrow did not show any interest regarding the same. Hence Burrow can’t be sued for breach of contracts. Moreover the confirmation letter sent by Study does not qualify under the Merchant Memo Rule as the involved parties are not merchants. Burrow can use the terms of UCC for his favour. The UCC states that any contract with value more than $500 must be in writing. As the involved amount in this case is $1300, hence this case does not qualify as a contract under UCC.

b) If Study and Burrow were merchants, then the Merchant Memo Rule gets applicable. Then in that case, if 2 merchants enter into an oral contract, which is worth $500 or more and one of the merchant sends a written confirmation for the same, then a contract will be considered enforceable. In such a case, Burrow will be held liable for breach of contract and can be sued by Study.

4 0

2 years ago

All of the following are examples of a business transaction except Select an answer and submit. For keyboard navigation, use the

Simora [160]

Answer:

a A. Thomas invests $2,000 in her business.

DOES NOT QUALIFY AS A BUSINESS TRANSACTION, THIS QUALIFIES AS AN INVESTMENT TRANSACTION

Explanation:

Business transactions must involve two distinct parties, and must result in the exchange of goods or services. Thomas invested on he business, and that is considered an investment transaction, not a business transaction.

b A. Thomas purchases a computer system on account to be used in her business. QUALIFIES AS BUSINESS TRANSACTION, INCREASES ASSETS AND LIABILITIES

c A. Thomas gives an $800 quote to a potential client for services requested.

QUALIFIES AS BUSINESS TRANSACTION, INCREASES REVENUE AND INCOME

d A. Thomas writes check 1002 out of the business checking account to pay the first month's rent on the space her business is leasing. QUALIFIES AS BUSINESS TRANSACTION, INCREASES EXPENSES AND REDUCES INCOME

8 0

3 years ago

Read 2 more answers

Robinson Manufacturing found the following information in its accounting records: $ 519 comma 800 of direct materials used, $

Damm [24]

Answer:

Cost of good manufactured= $1507100

Explanation:

To calculate the cost of manufactured goods we need to use the following formula:

Cost of good manufactured= Beginning work in progress+ direct materials of the period + direct labor + manufactured overhead - ending work in progress

Beginning work in progress= 72400

Direct materials = beginning inventory + purchase - ending inventory= 519800

Direct labor= 226700

Manufactured overhead= 775800

Ending work in progress= 87600

Cost of good manufactured= 72400 + 519800 + 226700 + 775800 - 87600= $1507100

5 0

3 years ago