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2 years ago

Why are economic systems needed? Respond to the question below with a minimum of 5 sentences.

Business

1 answer:

harina [27]2 years ago

6 0

Answer:

Explanation:Since economic resources are scarce, they must be used efficiently. We want to produce as much goods and services as we can, and in the process, produce the goods and services needed the most. There are five functions an economic system performs in producing goods and services for consumption.

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Assume an analyst has been hired to estimate the price elasticity of demand for hamburger (which sells for about $2.30 per pound

Pepsi [2]

Answer:

The correct answer is B

Explanation:

Price elasticity of the demand evaluates the demand responsiveness after the change or variation in the product own price.

The formula for computing the coefficient of price elasticity, is the factors which affect the elasticity and also elasticity is vital for business when deciding the prices.

So, Filet mignon(F) sells for $20 per pound when compared to that of hamburger (H) which sells the product for $2.30 per pound. F have the higher price as compare to the H, therefore, the coefficient of the price elasticity of demand in absolute value will be high or larger for F than that of H.

6 0

2 years ago

Natalie owns a condominium near Cocoa Beach in Florida. This year, she incurs the following expenses in connection with her cond

kumpel [21]

Answer and Explanation:

Natalie's Gross Income = $10,000

75 + 35 = 110 days

Expenses:

Insurance Expense (75/110) x 1000 682

Advertising Expense 500

Mortgage Interest (75/110) x 3500 2386

Property Taxes (75/110) x 900 614

Repairs and Maintenance (75/110) x 650 443

Utilities (75/110) x 950 648

Depreciation (75/110) x 8500 5795

Until the depreciation expenses the total expenses accumulate to 5273. If we deduct that with the gross income total we get 4727. We can only deduct 4727 from the total portion of 5795 depreciation expense.

Therefore, for AGI deductions we take total of (5273 + 4727) = $10,000

For Natalie's personal deduction of AGI

Mortgage interest (35/110) x 3500 1114

Property taxes (35/110) x 900 286

Total personal deduction for AGI $1400

4 0

3 years ago

What is the name of Jessie Robinson's employer?<br> PERSONAL FINANCE

Zanzabum

Answer:

Finance Learning Corporation

Explanation:

8 0

2 years ago

The Keynesian view of economics assumes that:

olga nikolaevna [1]

Answer:

The correct answer is

b. wages are sticky.

good luck

7 0

2 years ago

What will happen to your credit score if you do not manage your debt wisely?

galina1969 [7]

Answer:

it will go down

Explanation:

common sense

6 0

2 years ago

Read 2 more answers