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yawa3891 [41]
4 years ago
8

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

Business
1 answer:
Llana [10]4 years ago
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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_____ is a stage of vertical integration that occurs when a company transforms a product from one stage to the next so that it h
postnew [5]

Answer:

Forward integration

Explanation:

The stage of vertical integration that occurs when a company transforms a product from one stage to the next so that it has more worth to the next company at the next stage in the chain is called the forward integration, a company transforms a product from one stage to the next so that it has more worth to the next company at the next stage in the chain by merging with business entities that were its customers while still maintaining control over its initial business. the major components of supply chain include raw materials, intermediate goods, manufacturing, marketing and sales, and after-sales service, Examples include iron mining companies that own "downstream" activities such as steel factories. The forward integration of this company will sustain profit of the company while minimizing loss of profits to the intermediate entities.

4 0
4 years ago
If the Federal Reserve sets the reserve rate to 2%, what is the resulting money multiplier?
Sergio039 [100]
Multiplier = 1 / Reserve Ratio.
Multiplier = 1 / 0.02 (2%)
Multiplier = 50.


7 0
3 years ago
As a project lead, your team is on its way to finishing work on the project, while you have the impression that a staff member i
lawyer [7]

The action most likely to resolve the situation is to use your network of project managers to find another role for the person that allows for a smooth transition and doesn't conflict with your needs.

This is the best course of action because a smooth transition between projects allows for greater motivation in the current project, according to the PMBOK.

Therefore, using your network of project managers to find another assignment and allow for a smoother transition that doesn't conflict with your needs is the most suitable option.

Learn more about project managers here:

brainly.com/question/6500846

5 0
2 years ago
A producer of felt-tip pens has received a forecast of demand of 39,000 pens for the coming month from its marketing department.
alexandr1967 [171]

Answer:

(a) 12,595.4 units

(b) $1.59

Explanation:

Demand = 39,000

Fixed cost = $33,000 per month

Variable costs = 38 cents per pen

(a) Revenue per unit = $3

Let the volume be x,

Total cost:

= Fixed cost + Variable cost

= $33,000 + (0.38x)

Total revenue = Revenue per unit × Volume

                        = 3x

TR = TC

3x = $33,000 + (0.38x)

3x - 0.38x = $33,000

2.62x = $33,000

x = 12,595.4 units

(b) Let the revenue per unit be x,

Total cost:

= Fixed cost + Variable cost

= $33,000 + (0.38 × 12,595)

= $47,820

Total revenue = Revenue per unit × Volume

                        = 39,000x

Profit = Total revenue - Total cost

$14,000 = 39,000x - $47,820

39,000x = 61,820

x = 1.5851 or $1.59

6 0
4 years ago
Steve and Ed are cousins who both turned 25 today. Their grandfather began putting $2,500 per year into a trust fund for Steve o
iVinArrow [24]

Answer:

Answer A is correct

Explanation:

Step 1 find how much Steve will have when he retires:

financial calculator steps

press g 7 (to set the calculator to assume payments are made at the beginning of the period)

8 i (interest earned)

46 n (periods remaining)

-2500 pmt (payment made into the account each period)

0 PV (starting balance of account)

solve for FV

FV = $1,129,750.38

We can now use this value to solve backwards

8 i

41 n (only 41 more payments here)

0 PV (starting balance)

1,129,750.38 FV (ending value)

solve for pmt

pmt = 3,725.55 ~ 3,726 so answer A

6 0
3 years ago
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