All categories

3 years ago

Wat is the definition of economics

2 answers:

8 0

Economics is a social science concerned with the production, distribution, and consumption of goods and services. ... Economics can generally be broken down into macroeconomics, which concentrates on the behavior of the economy as a whole, and microeconomics, which focuses on individual people and businesses.

Cerrena [4.2K]3 years ago

4 0

The branch of knowledge concerned with the production, consumption, and transfer of wealth. The condition of a region or group as regards material prosperity.

You might be interested in

1. The giving up of one benefit or advantage in order to gain another regarded as more favorable.

Serjik [45]

Answer:

1. Trade off

2. Opportunity cost

3. Cost-benefit analysis

4. Diminishing marginal utility

Explanation:

1. Giving up one benefit or advantage to gain another regarded as more favorable is called trade-off. Every economic decision involves some trade-off.

2. Opportunity cost is the second-best alternative or value of the alternative, that must be given up when making a choice. Because of scarce resources with alternative uses allocation of resources involves some opportunity cost.

3. Cost-benefit analysis can be defined as the process of examining the benefits and costs of each available alternative in arriving at a decision. Resources are allocated efficiently if the cost incurred and benefit earned is equal.

4. As we go on increasing the quantity consumed of a product, the marginal utility or satisfaction earned from its consumption goes on decreasing. This is called diminishing marginal utility.

7 0

3 years ago

At the beginning of the period, the Cutting Department budgeted direct labor of $52,350 and supervisor salaries of $42,150 for 3

xxTIMURxx [149]

Answer:

$77,000

Explanation:

Direct Labor = $52,350 (Its varies with the number of Production hours). Hence, $52,350 for 3,490 hours

For 3,800 hours, (52,350/3,490) * 3,800 = $57,000

Supervisor Salaries = $20,000 (Since the Supervisor Salary is not an incremental cost, it is a fixed one). So, the Supervisor Salaries remain $20,000

Net budget (flexible) = $57,000 + $20,000

Net budget (flexible) = $77,000

4 0

3 years ago

Which of the following theories suggests that employee motivation is influenced by what other people contribute to and receive f

Debora [2.8K]

Explanation:

good good morning everyone in the wind blows when Devon bless the wind blows the pic which snap on snap grip cycle Godfather lead in the cord few questions

3 0

3 years ago

Boyle Company makes fine jewelry that it sells to department stores throughout the United States. Boyle is trying to decide whic

Ksivusya [100]

Answer:

Explanation:

Fixed Costs of Bracelet A

Advertising Costs 5,000$

Annual depreciation 5,000$

Total Fixed Costs 10,000$

Fixed Costs for Bracelet B

Advertising Costs 3,000

Annual depreciation 4,000

Total Fixed Costs $ 7,000

Variable Costs for Bracelet A

Cost of Materials per unit $ 10

Cost of labor per unit $ 15

Total Variable Costs per unit $25

Variable Costs for Bracelet B

Cost of Materials per unit $20

Cost of labor per unit $15

Total Variable Costs per unit $35

c) Avoidable costs

Avoidable Costs Bracelet A

Cost of Materials per unit $10

Cost of labor per unit $ 15

Avoidable Costs Bracelet B

Cost of Materials per unit $20

Cost of labor per unit $15

7 0

3 years ago

How do you say no .....without saying no in PERSON?

san4es73 [151]

Answer:

You can say it through a text, a phone call, an email, or a letter.

Explanation:

7 0

3 years ago

Read 2 more answers

Wat is the definition of economics​

Wat is the definition of economics