Scarcity exists because: Multiple Choice individuals cannot solve the three central coordination problems. new wants continue to develop and willingness to meet them is limited. the supply of goods is always less than the demand. governments cannot solve the three central coordination problems.

Answers

Answer 1

Answer:

Answer:

new wants continue to develop and willingness to meet them is limited.

Explanation:

In economics, scarcity refers to not being able to satisfy the total demand for goods and services. Everything is scarce, specially time (also capital, labor, technology), and economic agents must allocate resources that yield the highest benefits to them. The demand for goods and services is virtually unlimited, but if you can earn a higher profit from selling certain good X than selling good Y, you will sell good X and the consumers' demand for good Y will be unsatisfied.

Answer 2

Answer:

Final answer:

Scarcity exists because human wants and needs are infinite, but the resources to fulfill these are finite. Our society constantly desires new and more goods, but our ability to produce these items is limited. This results in constant decision-making about what to produce, how to make it, and who will receive it.

Explanation:

Scarcity exists due to the second multiple choice option - new wants continue to develop, and the willingness or ability to meet them is limited. This is a foundational concept in economics explained by the fact that human wants and needs are infinite, but resources to fulfill these wants and needs are finite. This disparity between nearly limitless wants and the limited production capability results in scarcity.

Even as societal productivity improves, and we produce more goods and services, we continually desire more and newer products. Additionally, resources such as land, labor, and capital are not infinite. We always have to make decisions about what to produce, how to produce it, and who will get what is produced. Those are the three central coordination problems.

Learn more about Scarcity here:

brainly.com/question/34071923

#SPJ6

Related Questions

Supply has the potential to contribute to: ___________a. Cost management, profitability, return on assets, competitive position and corporate social policy. b. Cost management, profitability, return on assets and competitive position. c. Cost management, profitability and return on assets. d. Cost management and profitability. e. Cost management.
Suppose First Main Street Bank, Second Republic Bank, and Third Fidelity Bank all have zero excess reserves. The required reserve ratio is 5%. The Federal Reserve buys a government bond worth $200,000 from Lorenzo, a client of First Main Street Bank. He deposits the money into his checking account at First Main Street Bank.Complete the following table to reflect any changes in First Main Street Bank's T-account (before the bank makes any new loans). Assets LiabilitiesReserves $200,000 Deposits $200,000 Complete the following table to show the effect of a new deposit on excess and required reserves when the required reserve ratio is 5%.Hint: If the change is negative, be sure to enter the value as negative number.Amount Deposited Change in Excess Reserves Change in Required Reserves(Dollars) (Dollars) (Dollars)200,000 Now, suppose First Main Street Bank loans out all of its new excess reserves to Juanita, who immediately uses the funds to write a check to Gilberto. Gilberto deposits the funds immediately into his checking account at Second Republic Bank. Then Second Republic Bank lends out all of its new excess reserves to Lorenzo, who writes a check to Neha, who deposits the money into her account at Third Fidelity Bank. Third Fidelity lends out all of its new excess reserves to Teresa as well.Fill in the following table to show the effect of this ongoing chain of events at each bank. Enter each answer to the nearest dollar.Increase in Deposits Increase in Required Reserves Increase in Loans(Dollars) (Dollars) (Dollars)First Main Street Bank Second Republic Bank Third Fidelity Bank Assume this process continues, with each successive loan deposited into a checking account and no banks keeping any excess reserves. Under these assumptions, the $200,000 injection into the money supply results in an overall increase of in demand deposits.
Dr. Evil presents the sound of a buzzer to his pet rabbit, and he follows it with the delivery of a small electric shock. After repeated pairings of the buzzer and shock, the rabbit learns to fear the sound of buzzers. Dr. Evil then proceeds to extinguish the rabbit’s fear of buzzers. Now suppose that, after extinction, Dr. Evil decides to present the buzzer and shock to the rabbit once again. After only one pairing, the rabbit will demonstrate __________ and fear the buzzer again.
The basis for classifying assets as current or noncurrent is conversion to cash within A. the operating cycle or one year, whichever is shorter. B. the operating cycle or one year, whichever is longer. C. the accounting cycle or one year, whichever is longer. D. the accounting cycle or one year, whichever is shorter.
What would the net value of a long straddle position be if the stock price at expiration is $35?

If a purchasing agent must put up a cash deposit for construction services, for security purposes, instead of giving it directly to the contractor, he or she may insist that it be placed in a(n):

Answers

Answer:

Escrow account

Explanation:

An escrow account is a type of account in which a third party helds a certain amount of money while two parties complete a transaction. This is used to protect people from fraud when they are involve in transactions like purchasing a house as both parties can trust that the money is safe and the third party only provides the funds when they agree with everything and are happy with the results.

According to this, the answer is that if a purchasing agent must put up a cash deposit for construction services, for security purposes, instead of giving it directly to the contractor, he or she may insist that it be placed in an escrow account because the money would be safe and it would be maintained by a third party that will provide the funds when the services are complete.

What should an adjustment letter focus on?a. Explaining the resolution to the problem b. Preventing a recurrence of the problem c. Communicating compliance d. Blaming the customer Apologizing

Answers

Answer:

The correct answers are letters "A", "B", and "C": Explaining the resolution to the problem; Preventing a recurrence of the problem; Communicating compliance.

Explanation:

Adjustment letters are communications with legal nature from companies to customers who filed a claim. The main purpose of the letter is to politely inform the client that the claim was received, what steps were taken to analyze the situation, what is the final resolution after the study and what will be done as a result. The ultimate goal of the adjustment letter is to keep a good relationship with the customer so they can continue doing business.

Final answer:

An adjustment letter should focus on explaining the resolution to the problem, preventing a recurrence of the issue, communicating compliance, and issuing an apology to the customer.

Explanation:

An adjustment letter should focus on several key elements to ensure effective communication and customer satisfaction. These include:

Explaining the resolution to the problem: The letter should clearly state what actions have been or will be taken to solve the issue. This is to reassure the customer that their issue is being handled properly.
Preventing a recurrence of the problem: The letter should detail the steps that are taken by the business in order not to let the issue occur again in the future, thereby showing concern for customer experience.
Communicating compliance: This involves ensuring that all the procedures, policies and regulatory requirements have been complied with, by apprising the customer about the same in detail.
Apologizing: An important part of an adjustment letter is an apology to the customer for the inconvenience they've experienced. The apology should sound sincere and indicate that the business values the customer.

The focus of the letter should never be blaming the customer. Rather, it should be centered around finding a resolution and preventing the recurrence of the problem.

Learn more about Adjustment Letter here:

brainly.com/question/33839634

#SPJ3

During January, Luxury Cruise Lines incurs employee salaries of $2.9 million. Withholdings in January are $221,850 for the employee portion of FICA, $435,000 for federal income tax, $181,250 for state income tax, and $29,000 for the employee portion of health insurance (payable to Blue Cross Blue Shield). The company incurs an additional $179,800 for federal and state unemployment tax and $87,000 for the employer portion of health insurance.Required:
A) Record the employee salary expense, withholdings, and salaries payable.
B) Record the employer-provided fringe benefits.
C) Record the employer payroll taxes.

Answers

Explanation:

The journal entries are shown below:

a. Salaries expense $2,900,000

To Income tax payable $616,250 ($435,000 + $181,250)

To FICA tax payable $221,850

To Account payable $29,000

To Salaries payable $2,032,900

(Being the employee salary expense, withholdings, and salaries payable is recorded)

b. Salaries expense $87,000

To Account payable $87,000

(Being the employer-provided fringe benefits is recorded)

c. Payroll tax expense $179,800

FICA tax expense $221,850

To Unemployment tax payable $401,650

(being the employer payroll taxes is recorded)

"When The Bank of Bank County borrows funds from the Federal Reserve; the rate the Fed charges the commercial bank is called the _____ rate."

Answers

Answer: Bank Rate/ Discount Rate

Explanation:

The Bank Rate is the interest rate that the Fed as the country's Central Bank charges commercial banks when they borrow money from it. The loans given are usually short term in nature.

The Bank Rate is a very useful tool in Monetary Policy by the Central Bank. If the Fed for instance would like to increase Economic activity by injecting cash into the economy, they can lower the bank rate and thus encourage more banks to loan money from them which will then be loaned to the public. If the Fed wanted to decrease Economic activity, the reverse would hold true.

We learned about Cost-Volume-Profit analysis. Review a few of the break even examples in the chapter. 1. If only the selling price per unit of a product increases (variable cost per unit and total fixed costs do not change), does the breakeven point increase or decrease?
2. Using Break Even Analysis, provide a unique mathematical example to support you answer. (Calculate the breakeven point for a base example, then increase the selling price and re-calculate your breakeven point.) Label all numbers in your examples."

Answers

Answer:

decrease

1. fixed cost is 100

variable cost is 10

price = 20

100 / ( 20 - 10) = 10

2. fixed cost is 100

variable cost is 10

price = 30

100 / (30 - 10) = 5

Explanation:

IRobot designs andmanufactures robots for consumer, commercial, and military use. For the ﬁscal year ended January 2, 2016, the company reported the following on its balance sheet and income statement(amounts in thousands): Accounts receivable, net of allowance of $33 at January 2, 2016, and $67 at December 27,2014, of $104,679 and $71,056, respectively.
Revenue for ﬁscal 2015 (i.e., the year ended January 2, 2016) of $616,778.
Bad debt expense for ﬁscal 2015 of $0.

Required:
Compute the amount of cash collected from customers during ﬁscal 2015.