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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:

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Keren Wiseman is an employee of Dimensionworks Designs in New Mexico. She received the following achievement awards from her emp

puteri [66]

Answer:

$2,300

Explanation:

Assuming that the requirements for qualified plan awards are otherwise satisfied, each award by itself would be excluded from income.

The excludable amount or deduction is $1,600 out of total amount of awards.

Total amount of awards = Design + Graphic + Employee of the year

= $1,340 + $1,775 + $785

= $3,900

Taxable awards = Total amount of awards – Excludable amount

= $3,900 – $1,600

= $2,300

However, because the $3,900 total value of the awards is more than $1,600, Keren must include $2,300 in his taxable income.

8 0

3 years ago

Each business day, on average, a firm writes checks totaling $17000 to pay its suppliers. The usual clearing time for the checks

BaLLatris [955]

Answer:

The disbursement float is $ 68,000, collection float is -$44,000 and net float is $24,000.

Explanation:

DISBURSEMENT FLOAT -

Formula that can be used to calculate the disbursement float is =

Amount of average monthly check written X Average number of days it

takes to clear check

Where, amount of average monthly check = $17,000

and average number of days for it to be cleared = 4 days

Disbursement float = $17,000 x 4

= $68,000

COLLECTION FLOAT -

Formula that can be used to calculate the collection float is =

Amount of average monthly check received X Average number of days it

takes to clear check

Where, amount of average monthly check =-$22,000

and average number of days for it to be cleared = 2 days

Collection float = -$22,000 x 2

= -$44,000

NET FLOAT -

Formula that can be used to calculate the NET float is =

DISBURSEMENT FLOAT - COLLECTION FLOAT

= $68,000 - $44,000

= $24,000

7 0

3 years ago

The stated purposed of NAFTA is to A. gain membership in the WTO. B. reduce the outsourcing of jobs to foreign countries. C. pha

jekas [21]

Answer:

C. phase out all trade and tariff barriers among Canada, Mexico, and the U.S

Explanation:

The North American Free Trade Agreement (NAFTA)

This agreement creates a bloc of trade for the region, Canada, Mexico and the US.

As state on "C" It result in the elimination or reduction of barriers to trade and investment between the countries.

It will be replaced in the following year by the United States–Mexico–Canada Agreement (USMCA)

But NAFTA will keep working until this new agreement is finished.

4 0

3 years ago

Scenario: wang's techno toys ann wang has been successfully running wang's techno toys that sells high-tech toys in the domestic

vfiekz [6]

Based on the given scenario above regarding Wang's Techno toys which was successfully run by Ann Wang, the method of import or export financing that the Techno Toys' bank used if it functions as an intermediary without considering any financial risk is called the DOCUMENTARY COLLECTION.

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3 years ago

If the bath was set to 80 °c, what do you think would happen to the rate of photosynthesis

Dmitry_Shevchenko [17]

The rate of photosynthesis would be slowed down, the rapid heat increase would put the plant into a sort of shock, slowing down the cells activities and then the plant would eventually die

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3 years ago