Homework Answers
Q1) answer is (C) scarcity
Because of scarcity of resources we cannot satisfy society's all wants.
Q2) answer is (C) trade off
A trade off is where one thing increses and other must decrease. i.e to gain benefit we must pay a cost.
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Please select the economic term that is best described by each statement below. There are limited...
l. The most fundamental economic problem is a) Scarcity b) Security c) Health ) The fact...
l. The most fundamental economic problem is a) Scarcity b) Security c) Health ) The fact that the United States buys more goods from foreigners than we sell to foreigners 2. Scarcity is a situation in which a) People cannot satisfy all their wants. b) Most people can get only bare necessities c) People can satisfy all their wants. 3. Scarcity requires that people must a) Cooperate c)Trade b) Compete d) Make choices 4. Which of the following are considered...
Question 13 pts Scarcity is a condition that is everywhere and always, since it is based...
Question 13 pts Scarcity is a condition that is everywhere and always, since it is based upon two assumptions that reflect permanent universal conditions. The assumptions are that more output will satisfy more wants and there are limited wants. the world has limited productive resources. the world has unlimited productive resources. Flag this Question Question 23 pts What are the factors of production? land, labor, opportunity land, economic capital, labor, entrepreneurship money, resources, labor, management Flag this Question Question 33...
7. The business cycle What Is a Business Cycle and How Does It Affect You? The term business cycle, or economic cycle,...
7. The business cycle What Is a Business Cycle and How Does It Affect You? The term business cycle, or economic cycle, describes the pattern of expanding and contracting business activity that an economy exhibits over a period of time. In this context, increasing production and consumption are generally referred to as economic growth, and declining production and consumption are usually called economic contraction. What are the phases of a business cycle? Which of the following statements accurately describe the...
The government of the United States is best described as Select one: O a. a constitutional...
The government of the United States is best described as Select one: O a. a constitutional monarchy. Ob. a democratic republic. stion C. an anarchy. d. a direct democracy. Oe. a confederation. The financial statements of Carrier Office Furniture Company include the following items: 2019 $50,500 2018 $46,000 13,000 98,000 144,000 549,000 293,000 55,000 Cash Short - term Investments 25,000 Net Accounts Receivable 92,000 164,000 Merchandise Inventory Total Assets 527,000 267,000 63,000 Total Current Liabilities Long - term Note Payable...
QUESTION 4 As a barometer of short-term liquidity the current ratio is limited by the nature...
QUESTION 4 As a barometer of short-term liquidity the current ratio is limited by the nature of its components. All of the following are reasons that this is true except: C A firm could have a high current ratio but not be able to meet demands for cash because inventory is salable only at discounted rices. C The balance sheet is prepared as of a particular date and the actual amount of liquid assets may vary considerably from the date...
1. Economics can best be defined as the study of how a. Society decides to use...
1. Economics can best be defined as the study of how a. Society decides to use its scarce resources in an attempt to satisfy unlimited wants b. The government should deal with the problems of unemployment and inflation C. To make money in the stock market d. The government should eliminate the problem of scarce resources 2. What you give up to obtain an item is called your a. True cost b. explicit cost c. opportunity cost d. direct cost...
Select the term from the list provided that best matches each of the following descriptions. 1...
Select the term from the list provided that best matches each of the following descriptions. 1 Re-engineering 4 Just in time 2 Managerial accounting 3 Continuous improvement 6 Financial Accounting Standards Board Activity-based management 5 7 Securities and Exchange Commission 8 Cost of goods sold 10 9 Nonvalue - added activities Upstream costs Match each of the options above to the items below. An inventory flow system that minimizes the amount of inventory on hand 4 The organization established by...
An individual income tax is a tax on: Select the correct answer below: o the profits...
An individual income tax is a tax on: Select the correct answer below: o the profits of a corporation O an individual's annual income O an individual's purchases at major retailers o the wages an individual receives from an employer When the budget deficit rises... Select the correct answer below: O domestic private investment falls O government spending falls O the trade deficit falls O private savings fall Which of the following will lead to expansionary fiscal policy? Select all...
Assignment 1 Give the correct term as described by each statement Part A 1 2 A...
Assignment 1 Give the correct term as described by each statement Part A 1 2 A portion of profits that is paid out to shareholders The total amount of share capital that can be raised by a company during its time The monetary value of the shares of stock a company actually offers for sale to investors - A characteristic of a corporation, it means it has an identity in the eyes of law, whose nights and abilities are 3...
Economics is the study of how people make money. run a business. invest. make choices using...
Economics is the study of how people make money. run a business. invest. make choices using limited resources. Flag this Question Question 21 pts The opportunity cost of an activity is zero if you choose the activity voluntarily. the amount of money spent on the activity. the value of the best alternative not chosen. the sum of benefits from all of the alternatives not chosen. Flag this Question Question 31 pts At equilibrium price, the quantity demanded is _____ the...
l. The most fundamental economic problem is a) Scarcity b) Security c) Health ) The fact that the United States buys more goods from foreigners than we sell to foreigners 2. Scarcity is a situation in which a) People cannot satisfy all their wants. b) Most people can get only bare necessities c) People can satisfy all their wants. 3. Scarcity requires that people must a) Cooperate c)Trade b) Compete d) Make choices 4. Which of the following are considered...
7. The business cycle What Is a Business Cycle and How Does It Affect You? The term business cycle, or economic cycle, describes the pattern of expanding and contracting business activity that an economy exhibits over a period of time. In this context, increasing production and consumption are generally referred to as economic growth, and declining production and consumption are usually called economic contraction. What are the phases of a business cycle? Which of the following statements accurately describe the...
The government of the United States is best described as Select one: O a. a constitutional monarchy. Ob. a democratic republic. stion C. an anarchy. d. a direct democracy. Oe. a confederation. The financial statements of Carrier Office Furniture Company include the following items: 2019 $50,500 2018 $46,000 13,000 98,000 144,000 549,000 293,000 55,000 Cash Short - term Investments 25,000 Net Accounts Receivable 92,000 164,000 Merchandise Inventory Total Assets 527,000 267,000 63,000 Total Current Liabilities Long - term Note Payable...
QUESTION 4 As a barometer of short-term liquidity the current ratio is limited by the nature of its components. All of the following are reasons that this is true except: C A firm could have a high current ratio but not be able to meet demands for cash because inventory is salable only at discounted rices. C The balance sheet is prepared as of a particular date and the actual amount of liquid assets may vary considerably from the date...
1. Economics can best be defined as the study of how a. Society decides to use its scarce resources in an attempt to satisfy unlimited wants b. The government should deal with the problems of unemployment and inflation C. To make money in the stock market d. The government should eliminate the problem of scarce resources 2. What you give up to obtain an item is called your a. True cost b. explicit cost c. opportunity cost d. direct cost...
Select the term from the list provided that best matches each of the following descriptions. 1 Re-engineering 4 Just in time 2 Managerial accounting 3 Continuous improvement 6 Financial Accounting Standards Board Activity-based management 5 7 Securities and Exchange Commission 8 Cost of goods sold 10 9 Nonvalue - added activities Upstream costs Match each of the options above to the items below. An inventory flow system that minimizes the amount of inventory on hand 4 The organization established by...
An individual income tax is a tax on: Select the correct answer below: o the profits of a corporation O an individual's annual income O an individual's purchases at major retailers o the wages an individual receives from an employer When the budget deficit rises... Select the correct answer below: O domestic private investment falls O government spending falls O the trade deficit falls O private savings fall Which of the following will lead to expansionary fiscal policy? Select all...
Assignment 1 Give the correct term as described by each statement Part A 1 2 A portion of profits that is paid out to shareholders The total amount of share capital that can be raised by a company during its time The monetary value of the shares of stock a company actually offers for sale to investors - A characteristic of a corporation, it means it has an identity in the eyes of law, whose nights and abilities are 3...
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