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SIZIF [17.4K]
3 years ago
7

Economics is the social science concerned with the efficient use of scarce resources to achieve the maximum satisfaction of econ

omic wants. True or False
Business
1 answer:
Katena32 [7]3 years ago
4 0

Answer: True

Explanation:

Economics is the study of how decisions are made by humans when they're faced with scarcity of resources. It is concerned with how the resources that are in the economy will be efficiently used.

Therefore, the statement that "Economics is the social science concerned with the efficient use of scarce resources to achieve the maximum satisfaction of economic wants" is true

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Jarvey Corporation is studying a project that would have a ten-year life and would require a $450,000 investment in equipment wh
Tems11 [23]

Answer:

Payback period = 3 years

Explanation:

<em>The payback period is the average length of time it takes the cash inflow from a project to recoup the cash outflow.</em>

<em>Where a project is expected to generate a series of equal annual net cash inflow, the payback period can be calculated as:  </em>

<em>Payback period =The initial invest /Net cash inflow per year </em>

The cash inflow = Net operating income + Depreciation

                          = 105, 000 + 45,000 = 150,000

Note we have to add back depreciation because it is not a cash-based expenses. And payback period makes use of only cash-based revenue and expenses.

Payback period = 450,000/150,000

                          = 3 years

Payback period = 3 years

5 0
3 years ago
Wage and price stickiness Select one: a. gives rise to a vertical long-run aggregate supply curve. b. gives rise to a vertical s
Tresset [83]

Answer:

d. prevents the economy from producing its potential level of real GDP.

Explanation:

Price-stickiness or Wage-stickiness, is a term that describes a condition in which a nominal price or wage is resistant to change. Often referred to as Nominal Rigidity, this occurs when a price or wage is fixed in nominal terms for a given period of time.

In other words, Price stickiness or Wage Stickiness occurs when workers' earnings or price don't adjust quickly to changes in labor market conditions, thereby creating sustained periods of shortage or surplus.

Hence, Price and Wage stickiness prevent the economy from achieving its natural level of employment and its potential output, which in turn prevents the economy from producing its potential level of real GDP.

5 0
3 years ago
Stadium owners have often been accused by business owners of doing what to the prices for sponsorship opportunities
slega [8]
The answer is A. inflation
8 0
3 years ago
What Human Resource Management activities were illustrated by Sam’s schedule in the Application Case?
lesya692 [45]

Explanation:

First we need to understand what activities are performed by human resource management. They are:

  • HR Development
  • Relationship with employees
  • Compensation and benefits
  • Cheers
  • Safety
  • Equal Employment Opportunities
  • staffing
  • Strategic HR Management

According to the text, none of these activities were performed by Sam on that particular day. What we can analyze is that during the working day, there were some situations that distracted Sam and prevented him from performing tasks efficiently.

He did not know how to properly manage the time to carry out the proposed activities, which were attempts to execute projects and priority by the integration of the objective management program (MBO), but the plans were never put into action by Sam, because he did not. there was no procedure for conflict resolution at work and did not share your work

with his subordinates in the company.

6 0
3 years ago
You are the manager of a retail store. You believe the economy is in a recession and that sales for the month will be unusually
Schach [20]

Answer:

C) False consensus

Explanation:

False consensus refers to the trust what one feel regarding other and think as similar for other person as he thinks. Also in this the opinions of the other persons would not be considered

Since in the question it is mentioned that the majority of the other store managers would feel the same way so here the false consensus would be applied

hence, the correct option is c.  

4 0
3 years ago
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