Answer: 5% of RS 100,000
Explanation:
Opportunity cost is what an economic agent such as an individual, form or government forgoes when a choice is made from different available choices.
Here, since Inaya has used Rs100000 for her ice cream business, the opportunity cost will be the 5% interest that she could have made on the money used for the business
Answer:
Through the purchasing decisions they make
Explanation:
An example might be that a producer would stop producing an item if very few consumers buy it.
Answer: The correct answer is "False".
Explanation: The newspaper editors are offering:
The way: because they offer a well developed that has acquired value through a productive process.
Time: Why do you make newspapers available to the consumer at the specific time (in the morning).
The usefulness of the place: Why the newspaper is taken directly to their homes.
And also the Utility of possession: which is the one that gives possession of a good.
Answer:
Scarcity or limited resources, is one of the most basic economic problems we face. We run into scarcity because while resources are limited, we are a society with unlimited wants.
Explanation:
Society would produce, distribute, and consume an infinite amount of everything to satisfy the unlimited wants and needs of humans.
Answer:
$32,990
Explanation:
The retained earnings is the accumulated balance of the net income/loss of n entity over time less the dividends paid over the years. Mathematically,
Opening retained earnings + net income - dividend paid = closing retained earnings
Both the retained earnings and common shares are elements of the owners equity.
$29,240 + $6,015 - $2,265 = ending retained earnings
Ending retained earnings
= $32,990