Answer:
scarcity means that a good is limited in supply, relative to it's demand.
Explanation:
By limited, it means that the available resources are not enough for the satisfaction of a need.
Price hikes tells us of scarcity of a resource. When the price of a resource or good gets increased or is continuously increasing the price of the resource may show that it is scarce.
Management have to allocate resources in such a way that they do not have to run out of the resources or or they may decide to use substitute resources.
This form of production that operates on supply and demand is the <u>market economy.</u>
<h3>Facts about the market economy </h3>
- Is controlled by forces of supply and demand.
- Citizens are allowed to own the means of production.
The warehouse Daveed works in is privately owned and they seek supply based on the demand for their goods.
This is in conclusion, a market economy.
Find out more on the market economy at brainly.com/question/1659498.
The factor that would inhibit Petra, who works in procurement, from advancing her career in supply chain operations is <u>her </u><u>professional qualification</u>.
<h3>How is supply chain management different from procurement?</h3>
Procurement concentrates on acquiring goods and services needed in an organization.
Supply chain management embraces all the activities involved in the procurement, production, and distribution of an organization's goods and services until they reach the end-users and create value for the organization.
Thus, the factor that would inhibit Petra, who works in procurement, from advancing her career in supply chain operations is her professional qualification and experience.
Learn more about supply chain management at brainly.com/question/25160870
Answer:
16 cupcakes
Explanation:
U(C, M) = C⁰°⁵ x M⁰°⁵ = √C x √M
total utility obtained by eating 16 cupcakes and 4 muffins = √16 x √4 = 4 + 2 = 6
since the bakery is out of muffins, then utility function = √C x √2 = √C x 1.4142
√C x 1.4142 = 6
√C = 6 / 1.4142 = 4.2426
C = 4.2426² = 18
since there were 2 cupcakes left, Christopher must purchase 18 - 2 = 16 cupcakes
Answer:
The answer is absorption costing.
Explanation:
This method is used to indicate that all costs have been absorbed by the units produced, and includes the following costs (fixed and variable):
1. Direct labor.
2. Direct materials.
3. Fixed manufacturing overhead.
4. Variable manufacturing overhead.
