This is a Firm and True Statement.
Each row of the production possibilities schedule illustrates the <u>MAXIMUM</u> amount of a good service that may be produced given the production of the other.
- A production possibilities schedule demonstrates the fundamental economic principle of opportunity cost, which states that the economy must forgo producing one thing in order to create another. The incredibly helpful production possibilities curve is likewise derived from a production possibilities schedule (or frontier)
<h3><u>What is an example of a production possibility?</u></h3>
- The trade-off between manufacturing one good vs another is gauged by the production possibilities curve. Consider a scenario in which a country produces 120,000 apples and 20,000 oranges. That is the point B on the diagram. It must produce fewer apples if it wishes to grow more oranges.
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Answer:
Substitute goods
Explanation:
Substitutes goods are products that can be used in place of one another. Consumers will be happy consuming either of the substitute goods. Therefore, substitute goods are similar and offer solutions to similar customer problems. Examples of substitute goods are tea and coffee.
If the price of one substitute good decreases, its demand will rise. Customers will prefer consuming that product over its substitutes due to its lower prices. The demand for other substitute goods will decrease as customers prefer the more affordable options.
Answer:
Cutoff.
Explanation:
At the end of an accounting period, it is important to ensure proper inventory cutoff to determine the ownership of goods in transit.
In Financial accounting, the term cutoff refers to the process which ensures that business transactions and activities are recorded in the correct accounting period.
An inventory cutoff involves stopping or pausing shipments or receiving of supplies of goods, in order to enable proper accounting and count checks.
The outcome that is expected is that the students would purchase more than 750 cups per day. This is a good selling strategy because it raises the belief that they are buying more and it is cheaper. The result is that the business will have better outcomes and the incomes will increase. Not to mention that the clients will prefer same quality of cofee for a "cheaper" price.
Answer:
both
Explanation:
there is not enough supply to fit the demand meaning said oil is more valuable so it is a good time to drill for more because it is more expensive and you know you can charge more because people will have no choice but to purchase it at your price until supply exceeds demand which will make it less valuable until the demand once again is higher than supply which will make it more valuable again.