BUSINESS HIGH SCHOOL

Paying rent is a needwhile buying a new video game is a want
 If you buy a new video game, you cannot pay your cell phone bill. This is an example of...

setting a long term goal
setting a short term goal
realizing opportunity cost

Answers

Answer 1
Answer:

Answer:

realizing opportunity cost

Explanation:

Opportunity cost is a dilemma where consumers need to choose what to do with their money. To buy something he or she wants, he or she necessarily needs to forgo other possible ways to spend their money. This is because consumers have a financial constraint, meaning they can't buy everything they want. Thus, the opportunity cost of buying a video game is all that one fails to buy with the money spent on buying the video game. For example, he or she could take a trip, buy an outfit etc. Thus every consumer choice involves an opportunity cost. In the narrated case, if he buys the video game, he will not have money to pay the phone bill. Being without a phone is very bad, so the opportunity cost in this case is high as it affects the welfare. Given this, the consumer will decide according to the usefulness of the video game and the mobile phone. Then he will choose to use the money for whatever brings him the most satisfaction and well-being.
Answer 2
Answer:

Realising opportunity cost?

Related Questions

High productivity will typically get you positive attention and feedback when you are on a job. A) True B) False
What describes the nature of cause and effect in the context of the business cycle?
The price of ice cream increases. In 1 or 2 sentences, explain how and why this affects the quantity of ice cream cones demanded by consumers
Suppose you to establish a business.describe how you would use any five entrepreneurial qualities to make sure that your business is a success?
Which of these is NOT an example of a fixed expense in a budget?A) car payment B) mortgage payment C) car insurance payment D) expenses for a birthday party

Embezzlement, forgery and false swearing are examples of which of the following?A) Crimes of depravity
B) Technical violations
C) Crimes of moral turpitude
D) Interference with justice

Answers

Crimes of moral turiptude

Both corporate and individual income taxes are set at _____ rates.a. high
b. progressive
c. regressive
d. low

Answers

Both corporate and individual income taxes are set at progressive rates.

According to the Jo-Hari window model, what are blind spots?a. Something that the sender knows and communicates to the receiver
b. Something that the sender knows but doesn't communicate to the receiver
c. Something that the sender doesn't know but the receiver does
d. Something that neither the sender nor the receiver knows

Answers

According to the Jo-Hari window model,  blind spots C.) SOMETHING THAT THE SENDER DOESN'T KNOW BUT THE RECEIVER DOES.

Blind spots are facts known to others but not known to self.

Other factors in Jo-Hari window model are Arena, Facade, and Unknown.

Choice A is Arena
Choice B is Facade
Choice D is Unknown

On May 27, Buzz Off Inc. reacquired 5,500 shares of its common stock at $23 per share. On August 3, Buzz Off sold 3,200 of the reacquired shares at $26 per share. November 14, Buzz Off sold the remaining shares at $22 per share.Journalize the transactions of May 27, August 3, and November 14. For a compound transaction, if an amount box does not require an entry, leave it blank.
May 27_____
Aug. 3_____
Nov. 14_____

Answers

Answer:

May 27

Dr Treasury Stock $126,500

Cr Cash $126,500

Aug. 3

Dr Cash $83,200

Cr Treasury Stock $73,600

Cr Paid-in Capital from Sale of Treasury Stock $9,600

Nov. 14

Dr Cash $50,600

Dr Paid-in Capital from Sale of Treasury Stock $2,300

Cr Treasury Stock $52,900

Explanation:

Preparation for the Journal entries for Buzz Off Inc

May 27

Dr Treasury Stock $126,500

(5,500 × $23)

Cr Cash $126,500

Aug. 3

Dr Cash $83,200

(3,200 × $26)

Cr Treasury Stock $73,600

(3,200 × $23)

Cr Paid-in Capital from Sale of Treasury Stock $9,600[3,200 × ($26 – $23)]

Nov. 14

Dr Cash $50,600

($5,500-$3,200 × $22)

Dr Paid-in Capital from Sale of Treasury Stock $2,300

[$5,500-$3,200 × ($23 – $22)

Cr Treasury Stock $52,900

(2,300 × $23)

What is the last step in the medical billing cycle?

Answers

The last step of medical billing cycle is the Follow up payments and collections.
The first one usually is to Pre-register the patient
Second - Establish Financial responsibilityc
Third - Check in patient 
Followed by the checkout of patient
and so on until the last part of the process,

An economy in which all the boys become farmers when they are adults, just as their fathers and grandfathers did, would be an example of aA. free market economy
B. command economy
C. traditional economy
D. centrally planned economy

Answers

An economy in which all the boys become farmers when they are adults, just as their fathers and grandfathers did, would be an example of a C.) TRADITIONAL ECONOMY.

Traditional Economy has the 3 characteristics:
1) Based on agriculture, fishing, hunting, gathering or a combination of any of the 4 afore-mentioned basis.

2) Guided by tradition.

3) Uses barter of goods instead of exchange of money.
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