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Lina20 [59]
3 years ago
12

What kind of good is It? Determine whether each of the following goods is a private good, a public good, a common resource, or a

club good.
Private Good Public Good Common Resource Club Good
A cabana along beach that is open to the public
A new sUV that you use to drive your friends around town
A large, beautiful fountain in a town square
Business
1 answer:
blsea [12.9K]3 years ago
4 0

Answer: Please refer to Explanation

Explanation:

Private Goods are those goods that exclusive and excludable. This means that people can be prevented from using it by the owners if the people who want to use it don't pay for it or reach an agreement with the owner.

A Public Good on the other hand is provided to every member of the public for use. They are non-excludable meaning that people can use them without having to pay a fee.

Common Resources are a mixture of both man-made and natural resources. As such, even though it is open to the public, it's use can be restricted by certain requirements such as payment.

Classifying the above,

A. Common Resource.

The Cabana is a common Resource because it is open to all members of the public and is a man-made resource on the beach which is a public good. However, one must pay to use it as well.

B. Private Good.

The SUV is your own personal property and as such is a private good whose use you can restrict from people making it exclusive and excludable.

C. Public Good.

The fountain is for everyone and no one has more right to it than others. Neither do they have to pay to view it. This makes it a Public good.

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A country is currently producing bricks and spatulas using all of their resources and satisfying the wants of their economy. If
makkiz [27]

Answer:

C. The country will have a smaller marginal return from bricks.

Explanation:

This is because it will lead to an increased production in the economy and ppf will shift outward.

5 0
3 years ago
REV Co. is reviewing the accounting and disclosure requirements for its significant guarantees, commitments, and contingencies,
victus00 [196]

Answer:

REV Co. has made disclosure in notes to the financial statement section. The disclosures include the details about related party transaction which was carried out by the brother of Chief Operating Officer. It is ensured that the transaction was completed on arm's length.

Explanation:

Disclosures are mandatory for any company which is listed. The companies provide details of specific transactions in Notes to the Financial statements. These additional information provides details of transaction to the shareholders and removes any ambiguity in the transaction. The purpose of disclosures is to ensure the shareholders that the company has not incurred any fraudulent activity in certain transactions and all transactions are fair and complies with International Accounting Standards.

5 0
2 years ago
For the quarter ended March 31, 2017, Croix Company accumulates the following sales data for its newest guitar, The Edge: $316,7
erastovalidia [21]

Answer:

Explanation:

The preparation of ta static budget report for the second quarter is shown below:

                                          CROIX COMPANY

                                         Sales Budget Report

                             For the Quarter Ended June 30, 2017

                       Second Quarter                      Year to date

Product Line  Budget  Actual  Difference  Budget  Actual  Difference

New Guitar $383,500  $387,400 $3,900    $700,200 $690,500  $9,700

                                                      Favorable                             Unfavorable

The year to date balances are computed below:

For Budget:

= $383,500 + $316,700

= $700,200

For Actual:

= $387,400 + $690,500

= 690,500

6 0
3 years ago
The custodian of a $450 petty cash fund discovers that the fund has $65 in coins and currency plus $382 in receipts at the end o
Mandarinka [93]

The entry to replenish the petty cash fund will include a credit to cash for $385.

What is petty cash fund?

When regular purchasing techniques are impractical, such as when buying office supplies or paying employees, a tiny sum of money called petty cash is utilized instead.

The entry to replenish the petty cash fund amount will include:

Fund amount : $450 - Used

Fund amount  :$450 - $382 = 68

cash on hand - remaining ; $68 - $65 = $3

Used + remaining ; $382 + $65 = 385

As a result, a credit to cash for $385.

Learn more about on petty cash fund, here:

brainly.com/question/23864192

#SPJ1

8 0
1 year ago
Craydye Corporation manufactures a part for its production cycle. The costs per unit for 8,000 units of this part are as follows
irakobra [83]

Answer:

Make; $72,000

Working:

Make ($106*8000)                         848,000

Buy [($120*8000 - 40,000)]           920,000

Make increases profits by              72,000

7 0
3 years ago
Read 2 more answers
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