All categories

2 years ago

What gives rise to the problem of scarcity

Business

1 answer:

dem82 [27]2 years ago

5 0

Answer:

Explanation:

Often scarcity is caused by a combination of demand and supply induced effects. A rise in demand, e.g. due to rising population causes overcrowding and population migration to other fragile ecological areas

You might be interested in

At the beginning of the year (January 1), Buffalo Drilling has $12,000 of common stock outstanding and retained earnings of $7,1

Mrrafil [7]

Answer:

Statement of stockholders' equity

at the end of the year (December 31)

Common Stock Retained Earning Total

Opening Balance $12,000 $7,100 $19,100

Income for the year $7400 $7400

Dividend Paid ($2,100) ($2,100)

Common stock issuance $6,900 $6900

End of the year Balance $18,900 $12,400 $31300

3 0

2 years ago

The 1,000 accounts receivable of Baker Company have a total book value of $30,000 (Average book value = $30). Wendy Duffo, CPA,

Lyrx [107]

Answer:

B) $29,500

Explanation:

If we are going to use the mean per unit sampling to estimate the total audited value all we have to do is multiply the total number of accounts by the mean audited value of the sample (50 accounts):

total estimated audited value = 1,000 accounts x $29.50 per account

total estimated audited value = $29,500

7 0

2 years ago

Brummer Corporation makes a product whose variable overhead standards are based on direct labor-hours. The quantity standard is

IRISSAK [1]

Answer:

$91 favorable

Explanation:

Variable overhead rate variance = (Standard variable overhead rate - Actual variable overhead rate) * Actual hour worked

Therefore, we have:

Variable overhead rate variance = ($8.00 - $7.90) * 910 = $91 favorable

Note: the variable overhead rate variance is said to be favorable becasue standard variable overhead rate is geater than the actual variable overhead rate.

6 0

2 years ago

Janet Home went to Citizen Bank. She borrowed $7,000 at a rate of 8%. The date of the loan was September 20. Janet hoped to repa

coldgirl [10]

Answer:

The interest is $189.78

Explanation:

The computation of the interest on January 20 is shown below:

= Principal × interest rate × number of days ÷ total number of days in a year

= $7,000 × 8% × 122 days ÷ 360 days

= $7,000 × 8% × 0.338

= $189.78

The 122 days are calculated below:

September - 10 days

October - 31 days

November - 30 days

December - 31 days

January - 20 days

Total - 122 days

And we assume the 360 days in a year

8 0

2 years ago

whats good ways to get all of your homework done at a recent time instead of staying up doing not to your full capability and st

gayaneshka [121]

Plain out your day making time to do your work. Do some of your work then set aside 10-15 mins to relax then work until you feel you need another 10-15 just limit it to two 15 min breaks for 4 hrs of work.

Hope this help and have fun. :)

8 0

2 years ago

What gives rise to the problem of scarcity​

What gives rise to the problem of scarcity