'Scarcity' is defined as the economic concept that refers to the situation of 'having finite resources and infinite demands.'
The concept of 'Scarcity' explains:
C). why consumers are willing to pay high prices for items.
D). why decisions must be made on how to use resources
F). why a single resource has more value than another resource.
The term 'scarcity' elaborates the causes of all the above-stated problems. Since the demand for produced goods, as well as, services is endless and the resources available to meet this demand are limited, there is an imbalance between the demand and supply. This leads to the hike in prices of the available goods so that one could afford to pay higher will take the good. This makes it important for deciding upon the efficient utilization of resources so that every individual's demand can be satisfied up to some extent.The single resources cost higher due to this reason only as it develops a competition among the buyers.Learn more about 'scarcity' here:
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Answer:
C, D, F
Explanation:
According to the Law of Supply, what's the result of an increase in the supply of workers for a job, if all other factors remain equal?
Question 12 options:
A:The wage rate will increase, since the pool of talented workers has increased.
B:The wage rate for that job will be pushed down.
C:The wage rate for that job will shift closer to the average rate in that country.
DThe wage rate will be unaffected, since jobs factor in skill and experience.
Answer:
Its A
Explanation:
i just took the test
Assuming all other conditions are equal, the outcome of a rise in the supply of workers for a job Due to the increase in the number of qualified people, wages will rise. Hence option A is correct.
What is Law of Supply ?A key tenet of economic theory is the rule of supply, which asserts that an increase in price will result in an increase in the quantity supplied, all other things being equal.
In other words, there is a direct correlation between price and quantity, and quantities react to price changes in the same way. This indicates that manufacturers are willing to increase production as a means of raising profits in order to sell more of a product on the market at higher prices.
The law of supply, to put it simply, is an association between quantity supplied and the supply curve's rising slope is caused by price and.
According to some heterodox economists like Steve Keen and Dirk Ehnts, the supply curve for mass-produced items is frequently downward-sloping: as production rises, unit prices fall, and vice versa, if demand is extremely low, unit prices rise.
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Role o vision, mission,and objectives in entreprenial development in Nigeria businesses? Pls describe
Answer:
Developing a vision and mission statement is crucial to the success of community initiatives. These statements explain your group's aspirations in a concise manner, help your organization focus on what is really important, and provide a basis for developing other aspects of your strategic plan
Explanation:
it help u
what are job responsibitiltes
Explanation:
we have to do all the work of our employees and we have to respect our employees and our seniors and to do lot of work mark brainleast please plz plz please please please please please please please please please please please please please please please please please please pleaseA company currently makes a component used in production. The per unit costs incurred to make the component include: Direct materials: $5; Direct labor: $2; Overhead: $4; Total cost: $11. Twenty-five percent of the overhead costs are considered incremental. The company can purchase the component from another source for $10. The company should do which of the following?
A. The company should make the components because incremental costs are $2 less than the purchase price.
B. The company should buy the components to save $2 per unit.
C. The company should buy the components to save $1 per unit.
D. The company can be indifferent because incremental costs are $10 and the purchase price is $10.
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Which of the following are incorporated in GAAP?
A. Requirements, policies, and ideals
B. Laws, regulations, and policies
C. Concepts, constraints, and principles
D. Mandates, laws, and ethics
You are the executive director of a law firm. You find out that your articling student has accidentally destroyed an important piece of evidence that would have cleared a wrongfully accused person. If you reveal this to the authorities, your student will not only lose her job, but will face jail time for destroying court evidence. CASPer Sample Questions:
Answer:
What is the question?
Explanation:
there are no multiple choices.. is it written response??
Discuss the project planning steps ?
Answer:
the project planning steps are ;
first getting informed about the specific topics .
second blow your creativeness and write in shot about that in the way of making a powerful presentation which looks attractive and easy to memorise the information.
which of the following assets is the most liquid
Answer:
A. A $20 bill
because cash is the most liquid asset
Reference:
https://africa.businessinsider.com/markets/what-are-liquid-assets-a-guide-to-the-investments-that-are-easiest-to-cash-in-and-why/k6073h1
From the provided options, the most liquid asset is the bill stating $20.
Option A is correct.
What is an asset?An asset is the monetary resource of a company which is acquired in order to get benefits in the future years.
The bill of $20 is considered to be the current asset as it can be converted into cash in short span of time in comparison to the checking account. The current assets are most liquid assets of the balance sheet.
Therefore, the asset given in option A is correct.
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Select all that apply Select the components of a market analysis. (Select all that apply) Multiple select question. The economic, physical, and technological environment The organization's own capabilities An understanding of injurious consumption The capabilities of current and future competitors The consumption process of potential customers
The components of market analysis include:
Three types of environment - economic, physical & technological.The organization has its own capabilities.Present & future competitor's analysis.Customers' consumption process.The following information related to the market analysis is:
It is a quantitative & qualitative market evaluation.The market size in volume & in amount.Purchasing patterns & segments of the customers.Competition or rivalry.Barries with respect to the entry & regulation of the economic environment.Therefore we can conclude the above components of the market analysis should be considered.
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if the required reserve ratio
Answer:
4
Explanation:
Formula: 1 / Reserve money ratio -> 1 / 0.25 = 4
three reasons for unequal distribution of income in developing countries
Answer:
High unemployment is a major factor behind the inequality levels. South Africa's unemployment rate is significantly higher than in other emerging markets, with youth unemployment exceeding 50 percent.
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How do property rights influence the exchange of goods and services in the market?
a. Property rights prevent market failures from arising in an economy.
b. Property rights prevent producers from exhibiting profit-seeking behavior.
c. Property rights allow consumers' wants and needs to control the output of producers.
d. Property rights determine ownership of resources among businesses, individuals, and governments.
Answer:
B. Property rights determine ownership of resources among businesses, individuals, and governments.
The property rights impact the exchange for goods and services in the market in the way when it measures the resources' ownership between the business, individuals, and the governments.
The information regarding the property rights is as follows:
In this, the resource or the good is to be used & owned.Resources should be owned by individuals, governments, etc.It represents the characteristic of the economic good.Therefore we can conclude that property rights impact the exchange for goods and services in the market in the way when it measures the resources' ownership between the business, individuals, and the governments.
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Two monetary measures that can be used to combat inflation
Answer:
Government spending and public borrowing
Explanation:
they compromise the fiscal policy
what is the best speed limit for driving and why?
anyone know about the air force like seriously anything?
Answer:
Pararescue is a dangerous job because you are ordered to put your life on the line to save someone else's. Even a slight malfunction in a parachute can have deadly consequences for the airman, as reported by the Air Force Times in 2020, a longstanding source of Air Force news.
________________ serves society in three functions: medium of exchange, unit of account,and store of value.
Answer:
Money serves society in three functions: medium of exchange, unit of account,and store of value.
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In these, money serves society in three functions: medium of exchange, unit of account, and store of value. This three factors are included.
What is the role of money in the economy?According to its primary purposes as a medium of trade, a store of value, and a unit of account, money has an impact on the economy.
Modern economies use fiat currency, which is money that is neither backed by nor represented by a physical good.
The primary purpose of money is to serve as a medium of exchange for transactions. Without money, all transactions would have to be made through direct exchange of one commodity or service for another, or barter.
Lower interest rates are often a result of increased money supply, which leads to more investment and more money in consumers' hands, which in turn boosts consumption.
Therefore, in these, money serves society in three functions: medium of exchange, unit of account, and store of value. This three factors are included.
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fractional reserve banking
Answer:
I'm thinking D because several banks have gone bankrupt from people not paying
Answer:
E
Explanation:
All of them would essentially lead to the bank to fail
Which statement best describes total task chaining?
A. The steps of the behavior chain are taught one at a time, in the order outlined by the task analysis, starting with step one
B. The client is taught one step at a time beginning with the last step of the behavior chain.
C. All previous steps are complete for the student
D. The client is taught all steps of the behavior chain in order and assistance is provided for any step the client is not able to complete independently
E. The client is taught one step at a time starting with the step that is easiest for the client
Sylvester is 57 and his company is downsizing. He knows that his position is one that will be cut so he has started to prepare his resume to look for a new job. Hunter tells him not to bother, as he will not get another job, at least not one that is equivalent to his current job. He tells Sylvester that things have changed since Sylvester went to college and that he couldn’t realistically offer too much in the workforce today. Hunter is demonstrating a(n)
Answer:Age Stereotype
Explanation:
1.List at least four factors that can affect the workforce today and in the future.
Explanation:
To understand the future of work, we believe it is essential to explore four major factors that will impact on the future of work: 1) Technological progress, IT platforms, the sharing and knowledge economy; 2) Demographic, social and environmental changes; 3) Globalisation and glocalisation; and 4) Labour flexibility.
volatile, not permanent, RAM
: non-volatile, permanent, often referred to as ‘space’
secondary memory/storage
primary memory/storage
peripheral
Answer:
RAM - primary memory/storage
please mark me as brainliest please
Answer:
RAM - primary memory/storage
Explanation:
Which is true of an intrapreneur?
A. They operate in a business as a collaborator
B. They are a failed business person
C. They have no desire to branch out or move up in the business world
Answer:
I belive it would be A
Explanation:
This most matches the defenition
MULTIPLE CHOICE
What's the most common reason for a vertical merger?
(A) To create subsidiaries of the company in order to specialize in different product areas.
(B) To reduce the number of directly competing businesses that are selling the same thing.
(C) To reduce the cost of doing business by combining with a supplier.
(D) To foster competition among businesses and give customers more buying options.
Answer:
D
Explanation:
To gain more control of the supply chain process, and increase business
The most common reason for a vertical merger is to foster competition among businesses and give customers more buying options. So, D is the correct option.
What do you mean by a vertical merger?A vertical merger refers to the combination of two companies that are primarily involved in the production of the same goods or services but at different stages of production.
The most common reason for a vertical merger is to foster competition among businesses and give customers more buying options.
Therefore, D is the correct option.
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The job _______ results in two written statements: one that specifies the responsibilities, duties and working conditions of the job, and the other setting forth the minimal education and skills required to do the job. specification description analysis assessment
Answer:
The word "Analysis" would most likely fit the statement.
Explanation:
The job analysis results in two written statements: one that specifies the responsibilities, duties, and working conditions of the job, and the other setting forth the minimal education and skills required to do the job.
What is The Humane Society of North Central Florida's mission? *
Answer:
Our mission is to build an ecologically sustainable and humane world for all animals.
Explanation:
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Which conclusion does this graph most support?
Product A
100
75
Demand
Product B
50
25
0
$10
$20
$25
$15
Price
O A. Demand for product A is more inelastic than demand for product
B.
B. The price for product A is closer to its equilibrium price.
C. Demand for product A is more elastic than demand for product B.
D. The price for product B is closer to its equilibrium price.
Demand for product A is more elastic than demand for product B is the conclusion does this graph most support. Hence, option A is correct.
What is elasticity of demand?A demand that is elastic experiences a significant shift in quantity demanded as a result of a price adjustment. When the amount sought changes little as a result of a price adjustment, the demand is said to be inelastic.
Example if the price of the tea change, the consumption of the tea remains the same or little less.
Thus, option A is correct.
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what is stock exchange?
penny and Theodore comprise a scheme whereby Penny will send information to Theodore in regards to the moves her telecommunications company is making when she learns about it in their company's internal strategy meeting so he can make a better stock trade. This is known as
Answer:
I think this is Insider trading
Explanation:
insider trading is an illegal practice where someone uses their own advantage of having access to confiditional information to practice stock trading on the stock exchange
Match each model with its matching example
Sketch
Simulation
Infographic
Graph
A) Pictures of car design options with special highlights
B) An imitation on how to drive a car
C) Results of car safety tests
D) A detailed illustration of a car design
Answer:
Sketch = A detailed illustration of a car design
Simulation = An imitation on how to drive a car
Infographic = Pictures of car design options with special highlights
Graph = Results of car safety tests
I just took the test and got all four points
Sketch = A detailed illustration of a car design, Simulation = An imitation on how to drive a car, Infographic = Pictures of car design options with special highlights, Graph = Results of car safety tests.
What is a Sketch?A rough drawing sometimes made as an initial study that captures the key features of an object or situation. An early version, as for a literary work. A brief synopsis or description.
A rapid drawing or painting called a sketch lacks finer details. Sketch is another word for drawing a preliminary draft of something. A sketch could also be a quick dramatic performance. A sketch is a preliminary design created by a clothing designer before moving on to the final product.
A sketch is a series of brief, straightforward drawings. An example of a sketch would be a drawing of a garment that the designer plans to sew. A person with humour.
Thus, the statements are matched in the above sentence.
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PLEASE HELP ASAP ITS A TEST
Which of the following is a disadvantage of a sole proprietorship?
(A) Proprietors are their own bosses and can work their own hours.
(B) It's the least expensive type of business organization to create.
(C) The owner has unlimited liability for the debts of the business.
(D) The owner gets to decide what to do with all of the profits made.
Answer:
A is the right answer so right it