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4 years ago

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

Business

2 answers:

Sati [7]4 years ago

3 0

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

An example is scarcity of rain is drought.

arsen [322]4 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.

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Duluth Co. collected a $6,000 cash advance from a customer on November 1, 2016 for work to be performed over a six-month period

uysha [10]

Answer:

c. Decrease liabilities and increase revenues.

Explanation:

Duluth Co. collected a $6,000 cash advance from a customer on November 1, 2016 for work to be performed over a six-month period beginning on that date.

If the year-end adjustment is properly recorded, the effect of the adjusting entry on Duluth's 2016 financial statements will be a decrease in liabilities and increase in revenues.

This will be the case because when Duluth Co. collected a $6,000 cash advance from a customer on November 1, it would have passed the following entries:

Dr Cash................$6000

Cr Prepaid Revenue...$6000

But note that 'prepaid revenue' is a liability which is why it has a credit balance.

By year end, the adjustment will be to take credit to revenue for 2 months that has elapsed for November and December, which is 2/6 x $6000.

Hence the entry will be:

Dr. Prepaid Revenue.....$2000

Cr. Revenue....................................$2000

which implies that the liability of prepaid revenue has reduced and revenue has increased

4 0

3 years ago

What is the total value of items owned by a business called

Arisa [49]

Answer:

Explanation: assets

7 0

1 year ago

Read 2 more answers

Describe an economic problem the government in America is trying to solve. How does scarcity and unintended consequences affect

Svetach [21]

Answer:

an economic problem in America that they are trying to solve is the population but they really don't say much making people not care because they thin it not there problem

7 0

3 years ago

The type of control that managers typically use in the input stage of the process of transforming raw materials into finished go

Mashutka [201]

The correct answer would be feedforward control. It is a control type where the process flows in the direction from the input or the raw materials to the output or the products. It regulates the input ensuring that the product meets the requirements or the standard.

3 0

4 years ago

Discuss the concepts of Mean, Median, Mode, and Standard Deviation, including when each should be used, and evaluate the differe

yaroslaw [1]

The mean is a mathematical concept that is used to determine what the average number is in a given set of numbers. For example, given a set of numbers, 5, 1, 1, 1, and 4, the mean is 2.4 ( $\frac{5+1+1+1+4}{5}$ ), where /5 is the sum of the given set of numbers.

<h3>What is the Median?</h3>

The median is a term used to represent the middle value in a given set of numbers. For example, given a set of numbers, 5, 1, 1, 1, and 4, the median is 1 because it is the middle for this set of numbers counting from left to right.

The mode is a term that refers to the most frequently repeated value in a given set of numbers. For example, given a set of numbers 5, 1, 1, 1, and 4, the mode in the set is 1 since it occurs most, exactly three times.

<h3>What is the Standard deviation?</h3>

Standard deviation is a statistical method used to determine how far (i.e the deviation) of a given dataset relative to its mean. It is often calculated as the square root of variance.

You can learn more about the concepts of Mean, Median, and Mode here brainly.com/question/14532771

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5 0

2 years ago