Answer:
Difference between primary needs and secondary needs: Primary needs: The primary needs are the basic requirements according to biological demands like oxygen for breathing, water for overcoming thirst, food for living and shelter. The secondary needs are the needs that remain even after the primary needs are satisfied
Answer:
Pine Corp. will base the determination of its loss on involuntary conversion on fair market value of $550,000.
Explanation:
Involuntary conversion is the forced payment for property that was damaged or stolen.
Capital gains will when compensation received is greater than conversion market value.
Answer:
Answer: US had a trade deficit and China had a surplus in its BOP
Explanation:
Inflow to US economy / Outflow of Chinese economy
1. Chinese tourist spent $ 1000
2. Chinese purchased a business $600
3. Puchased goods $300
Total Inflow $1900
US Outflow / China' inflow
US purchases goods $800
Sent aid $100
Investment in stocks $200
US tourist spent $1000
Total Outflow $2100
US had a trade deficit and China had a surplus in its BOP
Chinese government purchase of US bonds' value is not given, the purchase will be treated as credit to US BOP and the income received will be credit to China's BOP.
Answer:
The carpenter earned an extra $ nothing in the first year.
$160
Explanation:
Loan 2000
% interest 12%
FV=C*(1+I)
FV=2000*(1+12%)
FV=2000*1,12
FV=2240
Loan = 2000
Interest=240
Earn=400
Extra earning=400-240
Extra earning=160
Answer:
the value of attending the class he decided to miss
Explanation:
Opportunity cost is defined as the forgone alternative an individual has missed as a result of taking an action.
In economics both the actual cost of an activity and the opportunity cost are considered when analysing economic activity.
In the given scenario Tim decided to skip class so he can get more rest. This is the actual activity chosen.
However the value of the class missed is the forgone alternative. So this is the opportunity cost