The link between the Scarcity and choice is the study of how individuals and society choose to allocate scarce resources.
<h3>What is the Meaning of Scarcity?</h3>
Scarcity refers to the insufficient or the shortage of the resources with the individual or in the particular nation. For Example In any Industry there is the shortage of the skilled workers.
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The link between the Scarcity and the Opportunity Cost is that it has the direct implication on the scarcity. In decision making process, one must has to sacrifice the opportunity cost of that action.
The link between the Scarcity and competition is due to the Lack of resources which forces people to compete for the limited resources that are accessible because there aren't enough to satisfy everyone's wants.
Additionally, people would compete for the rationing tool, such as money, whatever it may be.
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Net worth is the value of all the non-financial and financial assets
owned by an institutional unit or sector, minus the total of all its
outstanding liabilities. The value of all of the Worthingtons assets
Worthingtons have a net worth of $412,700. The Answer is b.
Answer:
As Susan is conducting a group discussion in her organisation with two different groups, one group is from Sales department while other is from the Production department. She has also come to know that both groups have different perspectives on certain things. So, what exactly she can do to make her discussion effective and successful, she need to find common points within both groups arguments, then she should highlight those common points two both groups, in this way both groups will develop harmony or they will fee some synchronization among them.
Next, she should make both groups realize that we are working for one organization, if sales team win, then automatically it will be the win of the production departments as well because whole organization will be benefited for it. Likewise, if Production departments achieves something incredible, then Sales team will also be beneficial. Therefore, in this way Susan can make her discussion is a success.
Answer: See explanation
Explanation:
a. Predetermined overhead rate will be:
= Administrative costs/Number of users
= 739,500/25,500
= $29 per user
Administrative costs applied to Toot will be:
= Number of users x Predetermined overhead rate
= 8900 x 29
= $258100
Administrative costs applied to Tix will be:
= Number of users x Predetermined overhead rate
= 16600 x 29
= $481400
b. For Toot
Revenue: $1,450,000
Less: Engineering cost: $402,500
Less: Administrative cost: $258,100
Profit = $789400
For Tix:
Revenue: $1,200,000
Less: Engineering cost: $521,875
Less: Administrative cost: $481,400
Profit = $196725