Economics deals with the allocation and efficient utilization of scarce resources as human wants are unlimited and resources to satisfy those needs are limited in nature. Hence, to utilize the resources in the optimum possible way and meet the demands of humans, the economy allocates scarce resources.
<h3>How Microeconomics allocates scarce resources?</h3>
Microeconomics analyses how scarce resources are allotted efficaciously to the production of products and services. It facilitates in resolving the critical financial issues of the economic system at an individual level.
Thus, in this manner, Economics deals with the allocation and efficient utilization of scarce resources as human wants are unlimited and resources to satisfy those needs are limited in nature.
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Answer:
1.90%
Explanation:
Note that that CAD exchange rate would be in terms of how many US dollars can be exchanged for 1 CAD, which means that the formula for forward premium would be stated in terms of US dollars, I mean the US$ as the numerator and CAD's interest rate would be the denominator
the forward premium for CAD=((1+US interest rate)/(1+Canada interest rate))-1
the forward premium for CAD=((1+7%)/(1+5%))-1
the forward premium for CAD=1.90%
Answer:
<u>Production budget for October and November</u>
October November
cushions cushions
Budgeted Sales 13,000 15,000
Add Budgeted Closing Inventory 3,000 3,600
Total Production needed 16,000 18,600
Less Budgeted Opening Inventory (2,600) (3,000)
Production Budget 13,400 15,600
Explanation:
A Production Budget shows the quantities of finished goods that must be produced to meet <em>expected sales</em> <u>plus</u> any <em>increase in inventory</em> levels that might be required.
Answer:
$10
Explanation:
10% of 100 is 10. 100÷10=10
Answer:
A. Product's price
Explanation:
In this question, we applied the law of demand which shows an inverse relationship between the price and the quantity demanded of a particular commodity. If the price increases, the quantity demanded decreased and if the price decreased, the quantity demanded increased.
In the case of a market demand schedule, it takes the price and quantity demanded the overall market.
In this schedule, X-axis shows the quantity demanded of the product and Y-axis shows the price of the product.
According to the given scenario, the most appropriate option is a. product price as the market demand schedule shows that price and quantity demanded are inversely related to each other.
In buyer income, it considers the income of the buyer to purchase the product And option C is related to the producer point of view plus time period are also the not correct option
