Answer:
The answer is A) Rational self-interest because he is attempting to increase his own income by identifying and satisfying someone else's wants.
Explanation:
Traditional economic theory is based on three fundamentals, the first one being we are all rational consumers or suppliers.
Alex is trying to earn some money, completely rational and intelligent. He is able to do it by satisfying his neighbors´ need for lawn mowing.
Is he greedy? Probably yes, but he is still rational. No one is forced to pay his fee, so his also rational neighbors will decide if the price is correct or not. Those who believe the price is correct will hire him. If someone believes his is charging too much and that they can offer the same service for a lesser price, should show up and offer their cheaper services.
Can people who buy a 25 million dollar car be considered irrational? No they can´t, because for them is probably an investment or they simply have tons of money and like extremely expensive cars. What one person considers expensive may be considered cheap by someone else.
Answer:
adverse event, incident
Explanation:
contingency planning is referred to as the planning for unexpected events. The main focus behind inducing Contingency planning is to restore the normal position without disrupting business operations.
An incident response plan is induced to take action against the incident while the Disaster recovery plan is used to restored business operation after incident occurred.
To calculate for the approximate market potential, we
simply have to take the ratio of the current market demand over the market
development index in fraction. That is:
market potential = 320 million / 0.55
<span>market potential = 582 million</span>
Answer:
bank statement 56,300
Checks outstanding (25,390)
Deposit in transit not recorded by bank<u> 13,325 </u>
Adjusted bank statement 44,235
Cash account 42,920
Bank debit memo for service charges (35)
check register error: <u> 1,350 </u>
Adjusted cash account 44,235
Explanation:
The procedure is to adjust for the unknow information and mistake of each party.
The bank is unaware of the check outstanding and deposit in transit
The company thanks to the banbk statement gets information about a mistake in his check register as it was posted for 1,500 when it should be 150.
Answer:
war communism
Explanation:
The necessities of the civil war pushed the government to a more radical economic system known as war communism. This were the economic policies that were introduced in Russia in 1918 towards the end of the first World War by Vladimir Lenin which was the leader of Russia at that time. This Economic Policy was terminated in 1921 and was deemed as a failure.
