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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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Use the following compound interest formula to complete the problem. A = P (1 StartFraction r over n EndFraction) superscript n

Tatiana [17]

Credit cards are the card which is given by banks to the customers for withdrawing some amount beyond the account balance. The card I's is increased by $1579.3 than card H.

<h3 /><h3>What is a credit card?</h3>

A credit card refers to a payment mechanism that helps both consumer and commercial business proceedings, including purchases and cash advances.

Computation of credit card's balance:

Amount of Card H after 3 years:

Given,

Principal(P) = $1,186.44

Interest Rate(r) = 14.74%

Number of time period(n) = 3 years.

Applying the above values in the formula given in the question:

$\text{A} = \text{P}(1+ \dfrac{r}{n} )^n^t\\\\\\\text{A} =\$1,186.44(1+ \dfrac{14.74\%}{3} )^3\\\\\\\text{A}= \$1792.2$

Amount of Card I after 3 years:

Principal(P) = $1,522

Interest Rate(r) = 12.05%

A number of the time periods (n):

$12\text{Months}\times3\text{Years} = 36 \text{Months}$

Again, apply the above values in the formula given in the question:

$\text{A} = \text{P}(1+ \dfrac{r}{n} )^n^t\\\\\\\text{A} =\$1,522.16(1+ \dfrac{12.05\%}{12} )^3^6\\\\\\\text{A}= \$3,371.58$

Now we take the difference between both the credit cards, we have:

$\text{Amount of Credit Card I}-\text{Amount of Credit Card H}\\\\=\43,371.58-\$1,792.2\\\\=\$1,579.38$

Therefore, card H's balance is decreased by $1579.3 than a card I.

Learn more about credit cards, refer to:

brainly.com/question/14716152

4 0

3 years ago

You want to buy a car, and a bank will lend you $15000. The loan will be fully amortized over 5 years(60 months), and the nomina

inysia [295]

Answer:

a) $ 333.67

b) 12.6825

Explanation:

a) The 333.67 amount is the payment per month without interest and of course interest will differ from month to month as the loan is amortized monthly. to get the payment using financial calculator its N= 60, I/YR = 12%/12=0.01, 15000=PV, FV=O THEN COMPUTE PMT

OR use the formula pmt= PV/1-1/(1+rate)^time/rate

b) To get EAR = (1+ rate/ compounding)^compounding-1

(1+0.12/12)^12-1

6 0

3 years ago

Knowledge Check 01 Coolidge Company owes $1,000 for merchandise inventory purchased from Ross Company during April. The amount o

lubasha [3.4K]

Answer:

Journal Entry is as follows;

June 15

DR Accounts Payable $1,000

CR Cash $400

CR Notes Payable $600

7 0

3 years ago

lubasha [3.4K]

Answer:

Both focus on providing incentives to consumers or wholesalers to make an immediate purchase.

Explanation:

Trade sales promotion serves a purpose of taking products out of warehouses to points of retails where consumers can make purchases. The consumer sales promotion pulls customers into retail stores to promotional display units, giving shoppers the incentive to make an immediate purchase.

The Consumer sales promotion and trade sales promotions share a similarity. They are both used in helping to drive short-term consumer demand for products by giving consumers or wholesalers the incentive to purchase now or incentive to make an instant payment.

3 0

3 years ago

A company constructs a building for its own use. Construction began on January 1 and ended on December 30. The expenditures for

Alenkasestr [34]

Answer:

total capitalized interests = $118,300

Explanation:

Weighted average expenditures:

January 1 = $660,000 x 12/12 = $660,000

March 31 = $760,000 x 9/12 = $570,000

June 30 = $560,000 x 6/12 = $280,000

October 30 = $1,080,000 x 2/12 = $180,000

total weighted expenditures = $1,690,000

weighted interest rate:

$2,000,000 x 9% = $180,000

$4,000,000 x 6% = $240,000

total = $420,000 / $6,000,000 = 7%

capitalized interest:

$1,020,000 x 7% = $71,400

($1,690,000 - $1,020,000) x 8.8% = $46,900

total capitalized interests = $118,300

8 0

3 years ago