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Mama L [17]
3 years ago
9

When society gets the most it can from its scarce resources, then the outcome is called.

Business
1 answer:
Sergio039 [100]3 years ago
5 0

When society gets the most it can from its scarce resources, then the outcome is called : Efficiency

<h3>What is efficiency?</h3>

Efficiency means that society is getting the maximum benefits from its scarce resources.

When a resource becomes relatively scarce due to population growth, it often becomes more valuable. This increase in value may motivate powerful groups within society to take greater control of the resource, making it scarcer still.

However, efficiency ensures the scarce resources are judiciously utilized.

Examples of scarce resources includes :

  • Labor
  • Capital
  • Land
  • Entrepreneurship used by society to produce consumer satisfying goods and services.

Therefore, efficiency is when society gets the most it can from its scarce resources.

Learn more about efficiency here : brainly.com/question/25350730

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The ""invisible hand"" works to promote general well-being in the economy primarily through:.
MAVERICK [17]

The "invisible hand" works to promote general well-being in the economy primarily through people's pursuit of self-interest. therefore, Option A is the correct statement.

<h3>How does the Invisible Hand work?</h3>

The invisible hand is a part of laissez-faire, which means the "let do/permit go," method in the marketplace. In different words, the method holds that the marketplace will discover equilibrium without authorities or different interventions forcing it into unnatural patterns.

The complete information about the question is given below:

a. people's pursuit of self-interest.

b. the political process.

c. government intervention.

d. altruism.

therefore, The "invisible hand" works to promote general well-being in the economy primarily through people's pursuit of self-interest. Option A is the correct statement.

Learn more about "invisible hand":

brainly.com/question/1056081

#SPJ1

3 0
2 years ago
RST Company produces a product that has a variable cost of $6 per unit. The company's fixed costs are $30,000. The product sells
Sonja [21]

Answer:

$75,000

Explanation:

The computation of the revised break-even point in dollars is shown below:

Break even point = (Fixed expenses) ÷ (Profit volume Ratio)  

where,  

Contribution margin per unit = Selling price per unit - Variable expense per unit  

= $10 - $4

= $6

And, Profit volume ratio = (Contribution margin per unit) ÷ (selling price per unit) × 100

So, the Profit volume ratio = ($6) ÷ (10) × 100 = 60%

And, the fixed expenses is $30,000 + $15,000 = $45,000

Now put these values to the above formula  

So, the value would equal to  

= ($45,000) ÷ (60%)  

= $75,000

8 0
3 years ago
1 point
Alenkinab [10]
Capital

Have a good day
6 0
3 years ago
At a production level of 5,150 units, a project has total cash costs of $130,789. The variable cost per unit is $11.07, and the
Sphinxa [80]

Answer:

d. $73,778.50

Explanation:

Variable Cost = $11.07 per unit x 5,150 units = $57,010.50

Total Cost = $130,789

Fixed Cost = Total Cost - Variable Cost

Fixed Cost = $130,789 - $57,010.50

Fixed Cost = $73,778.50

Since Depreciation is the Fixed Cost and we have been given the Total Cost of the Project, so the Depreciation is already included in the Fixed Cost.

Hence Total Fixed Cost is equal to $73,778.50.

3 0
3 years ago
What are long-term decisions that set the direction for the entire organization called?a. Tactical b. Operational c. Directional
kvv77 [185]

Answer:

The correct answer is letter "E": Strategic.

Explanation:

Strategic decisions imply analyzing what direction is the overall company going to take in the long run. It represents the groups of decisions high-rank executives must take to conduct the operations of the firm, the resources that will be used and how they will combine those factors to reach the organization's objectives.

8 0
3 years ago
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