All categories

3 years ago

Write a summary of the 3 principles of economic activity

Business

2 answers:

nadezda [96]3 years ago

8 0

Answer:

Explanation:

1. The four principles of economic decision making are: (1) people face tradeoffs; (2) the cost of something is what you give up to get it; (3) rational people think at the margin; and (4) people respond to incentives. people face tradeoffs because to get one thing that they like, they usually have to give up another thing that they like. the cost of something is what you give up to get it, not just in terms of monetary cost but all opportunity cost. rational people think at the margin by taking an action if and only if the marginal benefits exceeds the marginals costs. people respond to incentives because as they compare benefits to costs, a change in incentives may cause their behavior to change.

2. The three principles concerning economic.

notsponge [240]3 years ago

3 0

Explanation:

this might be helpful..

You might be interested in

Cafeteria Department Cutting Department Assembly Department Janitorial Department cost allocation $155,000 $31,000 $124,000 Cafe

Mama L [17]

Answer: Assembly Department

Explanation:

Missing part of question is attached below.

Cutting Department

Under the direct method, the Cutting Department is allocated $62,000 of the Janitorial cost and $126,750 of the Cafeteria cost for a total of:

= 62,000 + 126,750

= $188,750

Assembly department

Allocated $248,000 of the Janitorial cost and $42,450 of Cafeteria:

= 248,000 + 42,450

= $290,450

Assembly Department is therefore the department that is allocated the most support department costs under the direct method. 

7 0

2 years ago

When hale appears at the proctors' door in act ii of the crucible, he is described as "different now—drawn a little, and there i

Oxana [17]

This visit to the proctor by Hale occurs after the events that transpired in the town of Salem. Hale feels immense guilt for allowing events to get out of hand in Salem. It is this conflict which gives him a more demure outward persona.

4 0

3 years ago

Prepare Hertog Company’s journal entries to reflect the following transactions for the current year. May 7 Purchases 200 shares

Mrrafil [7]

Answer:

Explanation:

Prepare Hertog Company’s journal entries to reflect the following transactions for the current year.

1. May 7 Purchases 200 shares of Kraft stock as a short-term investment in trading securities at a cost of $50 per share plus $300 in broker fees.

Dr Short Term Investments..............................10,000

Dr Broker Fess..........................................................300

Cr. Cash.................................................................................10,300

Being purchase of 200 shares of Kraft stock as a short-term investment in trading securities at a cost of $50 per share plus $300 in broker fees

2. June 6 Sells 200 shares of its investment in Kraft stock at $56 per share. The broker’s commission on this sale is $150.

Dr Cash................................................................11,050

Dr Broker Fess........................................................150

Cr. Cash............................................................................10,000

Cr. Gain on Sale of Short-term investments..............1,200

Being Sale of 200 shares of its investment in Kraft stock at $56 per share. The broker’s commission on this sale is $150

4 0

3 years ago

By providing good customer service, firms __________ their products.

dybincka [34]

Answer:

B. add value to

Explanation:

Customer service includes all forms of assistance and advise given to a firms' customer.

A firm with good customer service adds value to the firms' product.

For instance, if I buy a decoder and can't figure out how to set it up, if I contact a firm's customer service and they are unresponsive or provide bad service, I might be unable to effectively use the decoder. This would reduce the value of the decoder to me.

But if I contact the customer service and they are prompt to answer my questions and give assistance, the value of the decoder to me would be enhanced.

I hope my answer helps you

7 0

3 years ago

The situation analysis section of a business plan for all of a company's products,

riadik2000 [5.3K]

Answer:

technology

Explanation:

because they have to be search

8 0

1 year ago