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2 years ago

7

Why is scarcity a fundamental problem in economics

1 answer:

KATRIN_1 [288]2 years ago

8 0

Answer:

Scarcity or limited resources, is one of the most basic economic problems we face. We run into scarcity because while resources are limited, we are a society with unlimited wants.

Explanation:

Society would produce, distribute, and consume an infinite amount of everything to satisfy the unlimited wants and needs of humans.

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Ronald is 92 years old and in poor health. Clever investing earlier in his life has left him with a sizeable income. He is able

Sergio039 [100]

Answer:

Two(2) exemptions

Explanation:

The first exemption would be based on the fact that Ronald has health challenges while the second exemption would be on the basis of Ed's (his son) state of mental capability.

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3 years ago

Which of these purchases is more likely to be paid for with a credit card?

patriot [66]

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3 years ago

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A 2-year maturity bond with face value of $1,000 makes annual coupon payments of $80 and is selling at face value. What will be

il63 [147K]

Solution:

Annual coupon payment of the bond is $80

At the beginning of the year, remaining maturity period is 2 years.

Price of the bond is equal to face value, i.e. the initial price of the bond is $1000.

New price of the bond = present value of the final coupon payment + present value of the maturity amount.

New price of the bond = $\frac{80}{1+r} +\frac{1000}{1+r}$

where, r is the yield to maturity at the end of the year.

Substitute 0.06 for r in the above equation,

Therefore new price of the bond is = $\frac{80}{1+0.06} +\frac{1000}{1+0.06}$

= $\frac{1080}{1.06}$

= $ 1010.87

Calculating the rate of return of the bond as

$\text{rate of return}=\frac{\text{coupon+new price-old price}}{\text{initial price}}$

$=\frac{80+1018.87-1000}{1000}$

= 0.09887

Therefore, the rate of return on the bond is 9.887%

≈ 10 %

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3 years ago

Firm A's demand for a product is 15 units per month. Its supplier charges an ordering cost of $5 per order and $10 per unit with

lys-0071 [83]

Answer:

Annual ordering cost=$32.142

Explanation:

Annual ordering cost = Annual demand/order quantity × ordering cost per order

Annual demand = 15 × 12 = 180 units

Kindly note that there are 12 months in year.

Annual Ordering cost = 180/28 × $5= $32.142

Annual ordering cost=$32.142

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3 years ago

In 1973 Arab countries imposed an oil embargo on the United States and other developed countries in the aftermath of the Yom Kip

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Explanation:

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3 years ago