A automobile would be a asset
Scarcity is the condition wherein the mean to and end (that is resources required to achieve set goals) are limited in relation to the goals that need to be achieved.
Because of the above, one has to carefully make their choice while allocating the resources accordingly.
<h3>What is opportunity Cost?</h3>
When a choice is made between two competing alternatives, it means that one alternative has to be foregone. The alternative foregone is called the Opportunity Cost.
<h3>
What is a rationing device?</h3>
A rationing device is a system that determines who receives what of limited commodities and resources.
Price is one of the most regularly employed rationing techniques in a capitalistic (market-based) economic system.
Those who are willing and able to pay the price for a certain commodity (or resource) can obtain it.
Learn more about Scarcity:
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Answer:
The amount of fees that Jill will pay this year=$248.20
Explanation:
Expense ratio is a measure of how much fees that fund management firms charge their clients for their investments services. These fees cover administrative and operational costs. In our case, the expense ratio will be expressed as the fees that Jill will pay as a portion of the total amount she invested. The expense ratio can be expressed as shown;
ER=C/A
where;
ER=expense ratio
C=total funds cost
A=total funds assets
In our case;
ER=0.17%=0.17/100=0.0017
C=unknown to be determined
A=$146,000
replacing;
C=ER×A
C=0.0017×146,000=$248.20
The amount of fees that Jill will pay this year=$248.20
Answer:
because it is always good to have money and understand and then save it and spend it wisely
Explanation:
