All categories

3 years ago

What is scarcity? And give one example of scarcity GUYS HELP MEE PLSSSS

Business

2 answers:

Sati [7]3 years ago

3 0

The state of being scarce or in short supply; shortage:

An example is scarcity of rain is drought.

arsen [322]3 years ago

3 0

Scarcity is when there's a constant need for something, but there's not enough of that something to go around. For example, in some poor African countries, water is scarce because everyone wants and needs it, but there's a very limited amount of it available.

You might be interested in

The invisible hand refers to the Multiple Choice fact that the U.S. tax system redistributes income from rich to poor. fact that

oksian1 [2.3K]

According to the theory of the invisible hand, when there is competition, self-interested decisions advance the society interests.

<h3>What is the invisible hand theory?</h3>

Adam Smith, a Scottish philosopher and economist, popularized the metaphor of the "invisible hand" to describe the processes by which positive social and economic consequences may result from the collective self-interested acts of individuals, none of whom intend to produce such outcomes.

<h3>How is Adam Smith's invisible hand idea still applicable today?</h3>

An important economic idea that is still relevant today is the invisible hand theory. It may provide insight into the operation of free markets and consumer behavior. Although the idea is significant, it is frequently applied in ways that are inconsistent with Smith's original text or out of context.

<h3>What exactly is the "invisible hand" and why is it significant?</h3>

The term "invisible hand" describes how an individual's self-interests help society as a whole. In other words, through pursuing the profit motive, individuals are required to offer commodities at a cost that others are prepared to pay. Society gains as a result since those goods might not have been created otherwise.

learn more about invisible hand theory here

<u>brainly.com/question/3078419</u>

#SPJ4

8 0

2 years ago

From the perspective of employee, the effective channeling of work-related infomation and concerns

tino4ka555 [31]

From the perspective of an employee, the effective channeling of work-related information and concerns A. <span>should be conveyed directly to the manager in charge of function involved</span>

3 0

3 years ago

Wholemark is an Internet order business that sells one popular New Year greeting card once a year. The cost of the paper on whic

Orlov [11]

Answer:

9644

Explanation:

cost of paper on which a card is printed = $0.40 per card

cost of printing = $0.10 per card

profit made per card sold = $3.75

number of areas where customers are located (n)= 4

mean of customers from each region = 2300

standard deviation for each region = 200

note : each region is independent

The optimal production quantity for the card can be calculated going through these steps

first we determine

the cost of card = $0.10 + $0.40 = $0.50

selling value = $3.75

salvage value = 0

next we calculate for the z value

= ( selling value - cost of card) / ( selling price - salvage value )

= ( 3.75 - 0.50 ) / 3.75 = 0.8667

Z( 0.8667 ) = 1.110926 ( using excel formula : NORMSINV ( 0.8667 )

next we calculate

<em>u</em> = n * mean demand

= 4 * 2300 = 9200

б = $200\sqrt{n}$ = 200 * 2

= 400

Hence optimal production quantity for the card

= <em>u</em> + Z (0.8667 ) * б

= 9200 + 1.110926 * 400

= 9644.3704

≈ 9644

3 0

3 years ago

You deposit $100 in an account that pays 6 percent annual interest, compounded quarterly. What will your deposit grow to in 3 ye

Burka [1]

Answer:

$119.56

Explanation:

We will use compound interest formula to solve this problem.

The formula is:

$F=P(1+r)^t$

Where

F is the future value

P is the present amount

r is the rate of interest per period

t is the number of periods

Here,

F is the value we want, after 3 years

P is the present amount, $100

r is the rate of interest per quarter (per period)

Given r = 6% annually, so that would make:

6%/4 = 1.5% per quarter, or 1.5/100 = 0.015

Also, t is the number of quarters in 3 years, that would be 4*3 = 12

Now, substituting, we get our answer:

$F=P(1+r)^t\\F=100(1+0.015)^{12}\\F=100(1.015)^{12}\\F=119.56$

The first answer choice is right, $119.56

3 0

3 years ago

In a traditional economy decisions are based largely on

Luden [163]

Custom

Hope this helps ;)

5 0

3 years ago