Economists are concerned with an individual's wants because 1. wants always lead to shortages in the economy. 2. needs because economists define needs to be the goods people need to survive. 3. wants because the existence of wants leads to scarcity. 4. needs because needs are most important to an individual's well being.

Answers

Answer 1

Answer:

Economists are concerned with an individual's wants because wants because the existence of wants leads to scarcity.

Explanation:

Wants are the wishes of the human beings. It is the desire that is to be achieved by human beings. Every individual wants something in life for the survival. The wants of human beings has led to the technology advancements and discovery of many new things.

Wants are never ending things in human life. When something is achieved and there arises another want to be achieved again. This is to live better and this betterment will be never ending one, hence, economists view wants of individuals to lead to scarcity.

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A flexible budget expresses variable costs on a per unit basis and fixed costs on a total basis. T/F

Answers

Answer:

False

Explanation:

A flexible budget is a financial plan that varies with the levels of output and input. It is a budget that adjusts to the needs of a company and the actual revenue levels. Flexible budgets contrast fixed budgets that remain the same regardless of actual income levels.

A flexible budget uses actual revenues for a period. It records the actual expenses incurred, whether fixed or variable. A flexible budget like other financial plans and will have fixed, and variable costs indicated separately. Separating fixed and variable cost helps the management in evaluating financial performance for that period.

Theoretically, what would happen if a nation had an unlimited supply of a certain resource? Why

Answers

the would sell it.because it ould bring in money.

LBC Corporation makes and sells a product called Product WZ. Each unit of Product WZ requires 4.1 hours of direct labor at the rate of $20.00 per direct labor-hour. Management would like you to prepare a Direct Labor Budget for June. The company plans to sell 28,000 units of Product WZ in June. The finished goods inventories on June 1 and June 30 are budgeted to be 500 and 80 units, respectively. Budgeted direct labor costs for June would be:

Answers

Answer:

$2,261,560

Explanation:

Budgeted finished goods inventory (June 1) = beginning = 500 units

Budgeted finished goods inventory (June 30) = ending =80 units

Planned sales (June) = 28,000 units

Direct labor hours = 4.1 per direct labor hour

Direct labor rate = $20 / direct labor rate

June production :

Planned sales + ending inventory - beginning inventory

(28000 + 80 - 500) units

= 27,580 units

Total Direct labor hour required for production :

27,580 × 4.1 = 113,078 labor hours

Cost of production:

Total direct labor hour × rate per hour

113,078 × $20 = $2,261,560

Financial planning is _____________. Option a: A static process Option b: An ongoing process Option c: A finished process

Answers

Answer:

Financial planning is Option b: An ongoing process.

Explanation:

Financial planning refers to the process of setting goals, assessing financial resources, and creating a plan to achieve those goals. It involves various activities such as budgeting, saving, investing, and managing risks. Financial planning is not a one-time event but rather an ongoing process that requires regular review and adjustments to ensure that the plan remains aligned with changing circumstances and goals.

By continuously monitoring and updating the financial plan, individuals can make informed decisions about their finances and work towards achieving their short-term and long-term objectives. This ongoing process helps individuals adapt to changes in their personal circumstances, financial markets, and economic conditions.

If you have any more questions or need further assistance, feel free to ask!

Arman sets the goal for his sales team to increase revenue by 40%. Which main function of a manager does this demonstrate?

Answers

the main function that demonstrated by Arman is : Planning

In this step, Arman hasn't yet started how to achieve that goal. But he's already decided the benchmark for his team and started to formed various strategies that they can do

hope this helps

17 As the jobs become more complex the importance of employee development also __________. A. Terminates C. Increases B. Decreases D. Declines

Answers

C. As the jobs become more complex, the importance of employee development also increased. Jobs get new policies and procedures as it becomes complex, and that means employees must be well trained for the new tasks that they will take.

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Comparing international trade with trade among the different states of the united states shows that a. There is no need to study international trade as a special subject. b. The basic reasons for trade are equally applicable within a country or among countries. c. The logic of international trade is quite different from that of intranational trade. d. All of the above are correct.

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