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True [87]
2 years ago
11

Demands differ from wants because:______.

Business
1 answer:
elena55 [62]2 years ago
5 0

Answer:

The correct answer is:

demands reflect a decision about which wants to satisfy and a plan to buy the good, while wants are unlimited and involve no specific plan to acquire the good. (d)

Explanation:

Let me first try to define what demand and want are:

want: want is a desire for a product or service. It is said that wants are unlimited, however, the resources to actualize such wants are in a limited supply.

Demand: Demand is the quantity of good or service that a person is willing and able to pay for because of the availability of resources to do so, at a given price and time.

For a clearer understanding, demand can be seen as a subset of want that a consumer takes a further step to acquire, not just desire. There is a specific plan to acquire such wants.

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Shockglass Company had a beginning inventory of $15,000. During the year, the company recorded inventory purchases of $45,000 an
Otrada [13]

Answer:

A. $10,000

Explanation:

We know that :

cost of goods sold = opening inventory + purchases - ending inventory

hence,

Ending Inventory = opening inventory + purchases - cost of goods sold

therefore,

Ending Inventory = $15,000 +  $45,000 - $50,000

                              = $10,000

The ending inventory must equal: $10,000

8 0
3 years ago
Courts Distributors needed two hundred compact refrigerators on a rush basis. It contacted Eastinghouse Corporation, a manufactu
Romashka [77]

Answer:

Courts Distributors and Eastinghouse Corporation

Dispute over Contract Price

The two parties have a legal contract.  The contract was established when Courts requested Eastinghouse to send the refrigerators and bill later.

The exact price for the contract is in dispute.  This dispute can be resolved between the parties.  Reference to the market price will help resolve the dispute, otherwise, the parties may seek alternative dispute resolutions, like litigation, mediation, or arbitration.

Explanation:

a) Data and Analysis:

Eastinghouse's invoice price for the refrigerators = $140,000

Courts' adopted market price = $120,000

b) Since Courts' reference to the price is with regard to the wholesale market price, it may be that Eastinghouse quoted the retail price instead.  Since Courts is a distributor, it has the right to be charged a wholesaler's price and not a retailer's.  Therefore, we can conclude that after due reference to the prevailing market price of similar refrigerators, the two parties may agree to a price of $120,000 or a little higher.

7 0
2 years ago
Berry Good LLC registers its trademark with the U.S. Patent and Trademark office and uses it to market a distinctive line of ice
artcher [175]

Answer:

b. Creamy Inc.

Explanation:

From the question we are informed about Berry Good LLC which registers its trademark with the U.S. Patent and Trademark office and uses it to market a distinctive line of ice cream products. Creamy Inc. uses the mark without Berry's consent to sell imitation frozen desserts. Berry has a cause of action against Creamy Inc. What happen here was a Trademark infringement on Creamy Inc part. Infringement can be regarded as violation of exclusive rights that is associated with someone trademark. This as a result of not taken authorization from the owner of the Trade mark who has the licensees

7 0
3 years ago
Identify the principle of internal control to each of the following cases. 1. Cash is locked in a safe overnight. select princip
ivann1987 [24]

Answer:

1. Physical control

2. Segregation of duties

3. Pre-numbered documents

4. Segregation of duties

5. Establishment of responsibility

Explanation:

1. As this shows that someone locked cash in safe, so this will be physical control.

2. As this shows the division of duties among employees, so this will be segregation of duties.

3. As this shows documents are pre numbered so it comes under pre-numbered documents.

4. As this shows the division of duties for bookkeeper, so it comes under segregation of duties.

5. This shows the responsibility of any work on a person, so this will be establishment of responsibility.

4 0
3 years ago
Even though the research and development team of Orbiton Computer Inc. came up with promising technological innovations, the inn
nordsb [41]

Answer:

C

Explanation:

An organizational suitability statement for employees points out the reasons why the organization think their experience and skills are suitable for the position they are applying for in the organisation.

A suitability statement, known as a personal statement, shows a summary of the key skills and experience you possess for a given job

Thus Orbiton Computer's failure can be attributed to the lack of organizational suitability meaning the employees are not suitable and dont have the required skills for this job. They need to find the adequate skills for the job.

7 0
3 years ago
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