Answer:1.Factor services, 2 scarce resources, 3. opprtunity cost or real cost or true cost
Explanation:
Circular flow.of income: This is the system of how goods and services flow in for consumption by the households.it also shows the intrrelationship between the households and the business sector of the economy. From the diagram of the circular flow of income, the outer circle presented the flow of real services for productive agents such as land, Labour, capital and enterprise to the business sector.while the flow of goods and services are produced from the inner circle reflect the monetary aspect of what the outer circle produced.
Scarcity : This concept is used to explain how the human wants are unlimited, since human wants are unlimited so the resources to satisfy them are also limited . In order to solve the problem of scarcity, man has to make a choice by ranking his wants in their order of priority this is where we have the scale of preference.
Opportunity cost : This is the cost which described the cost of one product in terms of forgone alternatives. It is the alternative that is forgone in order to satisfy a want. For example a student who need a book that is costing $10, and a cloth that is also costing $10. If the student buys the book instead of the cloth, then the opportunity cost of his choice is the cloth that such student has forgone.
Based on findings suggested by David Allen in his book titled "Getting things done, " one of the benefits of a next actions list is that it "provides clarity, peace of mind, and focus."
- When you have a Next action list available, it implies that you know what to do next as you finish one task.
- This is also based on the idea that finding what to do next coupled with how to do it can lead to mental stress.
Hence, in this case, it is concluded that one of the benefits of a next actions list is that it "provides clarity, peace of mind, and focus."
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Answer:
<em>Competitive assessments.</em>
Explanation:
<em>Jose and his colleagues have been developing </em><u><em>C</em></u><u>ompetitive assessments</u>.
Because competitive assessments is also known as competitive analysis, we can understand it by its name that it is a analysis of the competitors and as well as their potential impacts and their business decisions.
<em>This is the reason we can see in scenario that is given in the question that Jose has also recognized that, what he believes is an asset to him, the competitors will not be able to match his thinking.</em><em> </em>Here, Jose is also taking analysis of his competitor.
Answer:
The market price of a good equates the total cost of production and the marginal value that consumers attach to a unit of the good. Because the price also reflects the opportunity cost of the resources employed to produce the last unit, consumers will value the last unit until they purchase at least as much as they would value any other good that those resources could have produced. These characteristics of perfectly competitive markets guarantee productive efficiency.
Explanation:
Prices in the market are determined by supply and demand. If demand exceeds supply, that is, there is excess demand, the price will rise. If the supply exceeds the demand, that is, there is an oversupply, the price will fall. When demand and supply are equal, the price of a commodity theoretically corresponds to its cost of production. If the market refuses to pay a price equal to the cost of production, the cost of production will exceed revenue and therefore the cost of production must be adjusted to the market price in order to avoid losses. If the commodity has already been produced, one has to settle for the loss-making price it obtains on the market. Prices are distorted, for example, by raising taxes (such as VAT) and subsidies by lowering prices. In addition, prices are distorted by imperfect competition.