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3 years ago

Can you point out some differenced between welfare definition and scarcity and choice

1 answer:

5 0

Scarcity means limitation of the availability of resources in relation to their wants. That means the available resources are not enough to completely satisfy all the wants.

By now, you must have already learnt that human beings have unlimited wants. And as the resources with which these wants must be satisfied are limited, we can understand that ‘scarcity’ is the central economic problem of everyone including individuals, firms and the government, and even the whole world.

Welfare economics focuses on the optimal allocation of resources and goods and how the allocation of these resources affects social welfare. This relates directly to the study of income distribution and how it affects the common good. Welfare economics is a subjective study that may assign units of welfare or utility to create models that measure the improvements to individuals based on their personal scales

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A business process consists of one or moreâ _______, many of which are supported by information systems.

Pani-rosa [81]

The answer is A operations

6 0

3 years ago

Two best friends, Thelma and Louise, are making long-range plans for a road trip vacation to Mexico. They will embark on this ad

chubhunter [2.5K]

Answer:

Bond Price= $1,081.1

Explanation:

Giving the following formula:

Face value= $1,000

Number of periods= 5*2= 10 semesters

Coupon= (0.1/2)*1,000= $50

YTM= 0.08/2= 0.04

<u>To calculate the price of the bond, we need to use the following formula:</u>

<u></u>

Bond Price= cupon*{[1 - (1+i)^-n] / i} + [face value/(1+i)^n]

Bond Price= 50*{[1 - (1.04^-10)] / 0.04} + [1,000 / (1.04^10)]

Bond Price= 405.54 + 675.56

Bond Price= $1,081.1

5 0

2 years ago

Jefferson Company has sales of $300,000 and cost of goods available for sale of $270,000. If the gross profit ratio is typically

Ivenika [448]

Answer:

$60000

Explanation:

Given: Sales = $300000.

Cost of goods available for sale= $270000.

The gross profit ratio= 30%

First finding the gross profit out of total sales.

Gross profit= $30\% \times 300000$

Gross profit= $\$ 90000$

∴ Cost of goods sold= $Total\ sales - gross\ profit$

Cost of goods sold= $300000-90000$

Cost of goods sold= $\$ 210000$

Hence, cost of goods sold= $\$ 210000$

Now, finding estimated cost of the ending inventory.

Cost of ending inventory= $cost\ of\ goods\ available\ for\ sale - cost\ of\ goods\ sold$

⇒ Cost of ending inventory= $\$ 270000- \$ 210000$

∴ Cost of ending inventory= $\$ 60000$

Hence, estimated cost of the ending inventory under the gross profit method would be $60000.

3 0

2 years ago

Rodriguez Company pays $310,000 for real estate plus $16,430 in closing costs. The real estate consists of land appraised at $21

Sergeeva-Olga [200]

Answer:

Required 1.

Land = $163,215

Land improvements = $65,286

Buildings = $97,929

Required 2.

Land $163,215 (debit)

Land improvements $65,286 (credit)

Buildings $97,929 (credit)

Cash $310,000 (credit)

Explanation:

Allocation of the purchase cost must be made on the bases appraisal value.

Total Appraisal Value = $215,000 + $86,000 + $129,000

= $430,000

Land = $215,000 / $430,000 × $326,430

= $163,215

Land improvements = $86,000 / $430,000 × $326,430

= $65,286

Buildings = $129,000 / $430,000 × $326,430

= $97,929

6 0

3 years ago

Aaron, clerical supervisor for a health maintenance organization, wants to hire the best person for the receptionist job. Ramona

katrin [286]

Answer:

Explanation:

There are two things that Aaron can do to make sure of this. The first is to make the office wheelchair-friendly. Meaning installing ramps in the necessary places so that the candidate can easily traverse the office and get to and from the places she needs easily and by herself. The second thing that Aaron can do is make sure that the candidate's abilities are better than the other candidates. These skills will make her an asset because she will be able to bring insight and experience that the other candidates would never be able to.

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2 years ago