The link between the Scarcity and choice is the study of how individuals and society choose to allocate scarce resources.
<h3>What is the Meaning of Scarcity?</h3>
Scarcity refers to the insufficient or the shortage of the resources with the individual or in the particular nation. For Example In any Industry there is the shortage of the skilled workers.
The complete question is attached below.
The link between the Scarcity and the Opportunity Cost is that it has the direct implication on the scarcity. In decision making process, one must has to sacrifice the opportunity cost of that action.
The link between the Scarcity and competition is due to the Lack of resources which forces people to compete for the limited resources that are accessible because there aren't enough to satisfy everyone's wants.
Additionally, people would compete for the rationing tool, such as money, whatever it may be.
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Double standing backflip and handspring to turbine-turner
Answer: b. (200 airplanes, 12,500 cars) and (150 airplanes, 15,000 cars)
Explanation:
The opportunity cost of an airplane is 50 cars. This means that if the number of planes produced were reduced by 50, the number of cars should increase by:
= 50 * 50
= 2,500 cars.
In option B, the airplanes were 200 and then reduced by 50 to 150. This led to an increase in cars of:
= 15,000 - 12,500
= 2,500 cars
Option B therefore satisfies the constraints and is correct.
Answer:
$75,000
Explanation:
If the legally required reserve ratio is 20%, then the money multiplier = 1 / 20% = 5.
Since the bank's excess reserves are $15,000 (= $35,000 - $20,000), the total amount of money it can add to the money supply = excess reserves times money multiplier = $15,000 x 5 = $75,000
Answer:
The Security Analyst Relations and the Accounting Department
Explanation:
The Chief Financial Officer or the CFO of an organisation is primarily responsible for the management of an organisation's financial matter, actions and decisions. The CFO is first and foremost an executive of any organisation and he determines the cash inflows and outflows from the organisation.
Furthermore, the CFO is responsible for the analysis of the strength and weakness of an organisation financially and also ensuring that controls are put in place to maintain the strengths and correct the weaknesses.
The accounting department is the primary department in charge of organisational finances, hence, it will be under the direct control of the CFO. The Accounting department ensures the prompt preparation and presentation of the company's financial statement. Furthermore, security analyst relations (in terms of financial securities and even physical security of assets and property) will also fall under the CFO's area of control.
Human Resource deals with human relations, marketing and production works together to ensure patronage of an organisation's products. These are not directly influenced by the CFO.
