When the government imposes a minimum wage law that states that all bakeries must pay no less than $50 per day, it will affect the profit maximizing hiring decision as B. she reduces employment from six workers to four workers.
What is a profit maximizing hiring decision about?A profit-maximizing firm will base its decision to hire more units of labor on the marginal decision rule: if the extra output produced by hiring one more unit of labor adds more to total revenue than it adds to total cost, the firm will increase profit by increasing labor use.
When deciding how many employees to hire, the company considers how much profit each employee will bring in. 2. Because profit equals total revenue minus total cost, the profit from an additional worker is the worker's revenue contribution minus the worker's wage.
Therefore, based on the information illustrated, the correct option is B.
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Which of the following is an example of an action that is part of making a
rational choice?
A. Doing a cost-benefit analysis.
B. Calculating flexible and fixed expenses.
C. Expanding your discretionary spending.
D. Adding up your assets.
Answer:
A. Doing a cost-benefit analysis.
Explanation:
i took the test
PLEASE HELP! you get 20 points
Alfonso comes to you for advice on creating a web application for his new startup, a store that turns discarded clothes into quilts for sale. He’s a novice when it comes to these things, so he asks you to give him advice on what kinds of functions would be useful for the application, as well as why an app is useful beyond providing a digital store front. In a paragraph, summarize your advice to Alfonso.
Answer:
i need help with this too someone please help
Explanation:
Answer:
An app would be important because you could track your orders easier and you would be able to promote the product. THe main function would need to be the ability to manage a business while trying to get all of the product made while finding people to be part of your business. IF you are going to interview employees they would have to know how to stitch and sew.
Explanation:
TRUST ME ON THIS ONE
Four students are at an extracurricular activity fair at their high school and are trying to decide which clubs to join. Some information about the students is listed in this chart:
Answer:
Hello your question is incomplete below is the missing part of your question
A 2-column table with 4 rows. Column 1 is labeled Student with entries Eleanor, Russel, Giada, Joe. Column 2 is labeled Hobbies with entries is already in B P A but is looking for a similar club to join as well; enjoys being treasurer for school band and drama club, and wants to join a club to help him learn more about these skills; builds remote-control cars and robots as a hobby; wants to be a stay-at-home dad and be involved in the homeowners association for his future.
Which describes which CTSO each student should join?
Answer : option A).
Explanation:
It is necessary that each student should join a CTSO based on his/her interests which means that Eleanor should join NYFEA (National Young Farmer Educational Association) , Russell should join FEA(Future Educators Association) , Giada should join TSA(Transportation Security Administration) while Joe should join HOSA(Health Occupations Students of America) secondly this various CTSO's will help the students develop better in their various areas of study and skills.
what is the income flow associated with labour?
Answer:
Explanation:
Factor income is the flow of income that is derived from the factors of production ,the general inputs required to produce goods and services. Factor income on the use of land is called rent, income generated from labor is called wages, and income generated from capital is called profit.
GUYSSSS PLS HELP!!!!! I WILL GIVE BRAINLIEST AND A GOOD RATING!!!!!!
Using a diagram, explain what happens to a trader's total revenue when his price falls given that demand for his product is
i) Elastic
ii) Inelastic
Answer:i) Elastic
Explanation:i cant give you a graph bc my comp[uter is being wierd..
true or false when a provider has market dominance, and hence can set its own prices (within reason), it is called a price taker.
The statement "when a provider has market dominance, and hence can set its own prices (within reason), it is called a price taker" is false because that is called a price setter, not a price taker.
What is a price setter?A price setter is a business or industry that has control over the market price of goods or services. This is achieved through the use of monopolistic competition, oligopoly, or a monopoly. In an oligopoly, for example, the top four firms account for 80% of the market. These businesses have considerable power over the market since their pricing and output strategies influence market conditions. The company can set its prices above those of its competitors due to its monopoly position. This will be to maximize profits by charging the highest price that consumers are willing to pay.
What is a price taker?A price taker, on the other hand, is a firm or industry that accepts the market price determined by supply and demand forces. Small businesses and startups are more likely to be price takers since they lack market power to set prices. The market price is the going rate for a product or service. Businesses that do not have a monopoly or oligopoly position are price takers, and they must accept the market price. They have no influence over the market price since their output is minor, and they must accept the market price to be competitive.
What is market dominance?Market dominance is when a company or group of firms controls a significant portion of the market. A company that holds a significant portion of the market may have an unfair advantage over its competitors, which can lead to a monopolistic or oligopolistic market. When a company has market power, it can charge higher prices or reduce product quality without fear of losing customers. Governments frequently take measures to promote competition and prevent businesses from dominating the market, to protect consumers from paying excessive prices.
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Match the different stages of the consumer buying process with the related scenarios where advertising helps with the stage.
search for information
comparative evaluation
choice and purchase
post-purchase evaluation
Ali reaches an area where there are many
restaurants, and one has ads displayed
in their parking lots.
arrowRight
Ali thinks about the last time he ate at a
particular restaurant. It was a bad
experience, and he’d decided he would
try a different restaurant next time.
arrowRight
Ali goes into a restaurant and checks out
the different dishes available on the menu
and orders his food.
arrowRight
Ali sees an ad showing that a restaurant
near his house serves the kind of tacos
he likes.
arrowRight
The different stages of the consumer buying process with the related scenarios where advertising helps with the stage are Ali sees an ad showing that a restaurant near his house serves the kind of tacos, he likes it is search for information.
Ali reaches an area where there are many restaurants, and one has ads displayed in their parking lots. It is comparative evaluations.
Ali goes into a restaurant and checks out the different dishes available on the menu and orders his food. It is choice and purchase.
Ali thinks about the last time he ate at a particular restaurant. It was a bad experience, and he’d decided he would try a different restaurant next time. It is post-purchase evaluation.
What is consumer buying process?
Comparative analysis aids decision-makers in choosing the best choice from a range of options in the business world. Business executives must decide on major expenditures, hiring options, and marketing plans. Comparative research techniques contrast the advantages and disadvantages of each potential option.
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taylorism attempted to use scientific principles to better handle which aspect of business? group of answer choices marketing management accounting industrial production
Taylorism tried to use scientific principles better to handle the industrial production aspect of a business. Thus, option D: "industrial production" is the correct answer option.
Industrial production refers to the output of industrial establishments, which covers sectors such as manufacturing, mining, gas, electricity, steam, and air-conditioning. The industrial production aspect of the business is an indicator of measuring an index based on a reference period that expresses a change in the volume of production output.
To better handle and improve industrial production, Taylorism attempted to apply scientific principles in this aspect of the businesses.
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Would you be more likely to get solar panels on your home or an electric vehicle because of tax incentives? Why or why not?
Answer:
I would most likely do solar panels because the addition of a solar energy system to your home doesn't increase the assessed value of your home. As a result, your property taxes don't go up.
Explanation:
Present at least two paragraphs describing your thoughts about the course.
1. Your thoughts about the format of the course.
2. Your thoughts about the content.
3. Your thoughts about the assessments.
4. Anything else you would like to add?
This course is about Career Exploration!
1. The format of the course can play a significant role in a student's engagement levels. Since Career Exploration deals with personal experiences and self-discovery, having a flexible structure that allows for self-paced learning can be beneficial. Interactive activities such as videos, quizzes, and reflective questions can make the course engaging and interactive. Visual aids, infographics, and interactive maps can enhance the learning experience.
Additionally, having access to an experienced career counselor or mentor can be valuable. Such experts can provide guidance and feedback, answer questions, and offer career advice. Offering students opportunities for job shadowing, internships, and informational interviews can also give students practical experiences and insights into various career fields.
2. The content covered in a Career Exploration course should be diverse, comprehensive, and relevant to the current job market. Topics such as self-assessments, career research, networking, resume building, interview preparation, and job search strategies can be included. The course can also focus on soft skills such as communication, problem-solving, and leadership, which are essential in any career field.
Moreover, incorporating case studies, real-life examples, and current labor market trends can make the content relatable and interactive. The course content can also emphasize the importance of continuous learning and the need to adapt to the changing job market.
3. Assessments can serve as a way of measuring how much a student has learned, provide feedback on their performance, and encourage self-reflection. Providing a variety of assessment types, such as quizzes, essays, and project-based assessments, can provide students with multiple opportunities to demonstrate their understanding of the course material.
Additionally, frequent and timely feedback can be beneficial in helping students understand where they can improve and build their confidence. A final exam or capstone project can be useful in evaluating how much a student has learned and presenting their findings on their career research.
4.Overall, a Career Exploration course can be a valuable investment for students who want to make informed career decisions. It can provide students with guidance, resources, and practical experiences, making them more marketable and prepared for their careers.
Student loan forgiveness is available to students who perform public
service after graduating from college.
True or false?
You have just purchased a 10. 25oupon bond with 30 years remaining until maturity for $1201. 75. The bond is callable in 10 years for $1102. 50. Based on this, the yield-to-call is
The yield-to-call is the annualized return on a bond if it is called by the issuer before its maturity date.
The yield-to-call (YTC) is a measure used to calculate the annualized return on a bond if it is called, or redeemed, by the issuer before its maturity date. In this scenario, you have purchased a $10.25 coupon bond with 30 years remaining until maturity for a price of $1201.75. The bond is callable in 10 years for $1102.50.
To calculate the YTC, we need to determine the yield that will make the present value of the bond's future cash flows equal to its current price. The cash flows in this case include the periodic coupon payments and the principal payment at maturity, or the call price if the bond is called before maturity.
First, we need to calculate the present value of the bond's future cash flows at the YTC. This involves discounting each cash flow to its present value using the YTC as the discount rate. The coupon payments can be discounted using the bond's coupon rate and the call price or maturity value can be discounted to the YTC.
Next, we sum up the present values of all the cash flows to calculate the bond's current price. We then use trial and error or financial software to find the YTC that makes the current price equal to the bond's purchase price of $1201.75.
Once we have the YTC, we express it as an annualized percentage rate. This allows us to compare the bond's yield to other investments and determine its relative attractiveness.
In summary, the yield-to-call is the annualized return on a bond if it is called by the issuer before its maturity date. It is calculated by finding the discount rate that makes the present value of the bond's future cash flows equal to its current price.
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value creation through place decisions for a consumer product involves
Value creation through place decisions for a consumer product involves placing the product in a location that would enhance the product's marketability. This means that the marketer would strategically select the distribution channel through which the product would be sold in order to maximize its visibility and accessibility to potential customers. Furthermore, the marketer would also ensure that the distribution channel selected is cost-effective, efficient, and can reach the target audience.The marketer would conduct extensive research on potential distribution channels such as retail stores, online platforms, or direct mail, and select the most suitable one. This could involve creating a website or social media page for the product in question to enhance its visibility. The marketer would also ensure that the product is available at locations that are easily accessible to the target audience to improve the likelihood of purchase.Placing the product in a location that is not easily accessible would reduce its marketability and could result in losses for the business. Therefore, effective place decisions require extensive research, market analysis, and strategic planning to enhance the product's value creation. The placement strategy selected should align with the company's overall marketing strategy and contribute to the achievement of the company's objectives.
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Michael owns a small but profitable tech company. He has been approached by a larger company that wants to purchase his business. In which business life cycle stage is Michael
A business that has a single owner is known as a sole proprietorship. The owner has all control, the business is simple and affordable to start, and the earnings are all kept by the owner.
What are the five primary types of ownership in small businesses?single-person business. A sole proprietorship is simple to set up and offers you total management over your company.
Partnership. The simplest form of joint ownership for two or more people is a partnership.
Corporation that is a limited liability company (LLC).
Cooperative.
Which of the following is an important aspect in a small business's success?Money, Marketing, and Product will always be the three most crucial success factors for expanding businesses, even if each is equally important. Most companies produce a decent enough product or service to be successful, so that part of their business is taken care of.
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the owners of blazing pitchforks, a family-owned farm supply outlet in a rural community, are concerned over the news that a large retailer specializing in farm and garden products is building a new store on the other side of town. according to a swot analysis, this new retailer is an organizational ________ to blazing pitchforks.
Answer:
Threat
Explanation:
According to the SWOT analysis, this new retailer is an organizational threat to Blazing Pitchforks.
SWOT analysis is a management tool that helps an organization to analyze its strategic position in the market in relation to its:
microenvironmentmacroenvironmentSWOT analysis is an acronym that stands for:
StrengthWeaknessesOpportunitiesThreatsIn relation to the organizational environment.
In the internal environment, the strengths and weaknesses that it is possible to control through the management of resources and capabilities, such as:
marketing financeproduction organizationAre analyzed for strategic development that results in a competitive advantage over competitors.
The external environment, on the other hand, corresponds to factors outside the organizational limit, which it is not possible to control but which have some impact on its activities, such as economic, political and entry of new competitors, such as the large retailer which will compete with the Blazing Pitchforks, which may impact its profitability.
Therefore, it is necessary to monitor the external environment, opportunities and threats, for the development of an adaptable and innovative strategic plan to reduce negative impacts related to the external environment.
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Specialization and trade benefit nations by allowing them to:
O Use their resources more efficiently.
O Produce higher priced items for their citizens.
O Always have a trade surplus, meaning they export more than they import.
O Focus all of their resources on imports and refuse to export anything.
Answer:
#2
Explanation:
please type what belongs in the highlighted squares
ill give brainliest
To get the total revenue for the fourth quarter add the revenue for the month that apply
October revenue + $500 000
November revenue + $425 000
December revenue + \(\\)860 000
the sum total is = 1,011,000
therefore the fourth quarter revenue is $1,011,000
To calculate EBITDA subtract the expenses from the revenue
Revenue $6500 000
Expenses - $5375 000
EBITDA = 1, 125, 000
therefore the EBITDA is $1, 125, 000
To calculate Total Market Capitalization, multiply the number of share by the price per share we divide the
Number of shares \(\\)2500 000
price per share x \(\\) 23 77
= $5,942500, 000
therefore the Total Market Capitalization is $5,942500, 000
To calculate the earning per share divide the earning by the number of shares
Earning $5000 000 / Number of shares $2500 000 = 2
therefore the earning per share is 2
What is EBITDA?The abbreviation. EBITDA for stands for earnings before interest, taxes, depreciation, and amortization in business. EBITDA is very vital in understanding a business's ability to generate cash flow for its owners and use for judging a company's operating performance.
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the streambank on the outside of this meander is steeper than_____.
The streambank on the outside of this meander is steeper than the streambank on the inside of the meander.
A meander is a curve or bend in a river or stream. As water flows around a meander, the velocity and energy of the water are unevenly distributed. The water moves faster on the outside of the curve, where the streambank is steeper. This increased velocity results in erosion, causing the outside bank to become even steeper and more pronounced over time.
On the inside of the meander, the water flows more slowly, leading to deposition of sediments. This causes the streambank on the inside of the meander to be shallower and less steep. Over time, this deposition of sediments can create a point bar, which is a raised area of land along the inner side of the meander.
In summary, the streambank on the outside of a meander is steeper than the streambank on the inside of the meander due to the differences in water velocity, erosion, and sediment deposition that occur as water flows around the curve.
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Which of the following is an example of the micro-macro dilemma? Question 7 options:
a) Sulfites help to keep restaurant salads looking fresh, but some people have a dangerous allergic reaction to sulfites.
b) Children like to ride bicycles, but accidents are common.
c) Jet skis can be fun but can also be dangerous to the driver and others. d) All of these are examples of the micro-macro dilemma.
e) Disposable packages are convenient but contribute to environmental problems. Question 8
Option d is the correct answer as it accurately states that all the given examples represent instances of the micro-macro dilemma.
The micro-macro dilemma refers to situations where actions or choices that may seem beneficial at an individual or small-scale level (micro) can have negative consequences at a broader societal or larger-scale level (macro).
In each of the options presented, there is a conflict between the immediate benefits or preferences at the individual or micro level and the potential negative effects or risks at the societal or macro level. Therefore, all of the options provided demonstrate examples of the micro-macro dilemma.
Option d is the correct answer as it accurately states that all the given examples represent instances of the micro-macro dilemma. Each scenario involves a trade-off between personal preferences or benefits and broader societal implications or consequences.
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Suppose you start saving for retirement when you are 31 years old. You invest $5,000 the first year and increase this amount by 4% each year to match inflation for a total of 25 years. The interest rate is 8% per year. 1. How much will you have in account immediately after making the last deposit at age 55 . A. $76,343 B. $1,189,289 C. $522,830 D. $485,795 2. How much will you have, if the interest rate was only 4% per year (instead of 8% )? A. $333,230 B. $120,192 C. $320,413 D. $291,459
In 1. The amount in the account immediately after making the last deposit at age 55 is approximately $1,189,289. In 2. If the interest rate was only 4% per year, the amount in the account would be approximately $333,230.
1. To calculate the amount in the account immediately after making the last deposit at age 55, we can use the formula for the future value of an annuity:
\(FV = P * ((1 + r) ^ n - 1) / r\)
where FV is the future value, P is the initial deposit, r is the interest rate, and n is the number of years.
In this case, the initial deposit is $5,000 and it increases by 4% each year for a total of 25 years. The interest rate is 8% per year.
Using the formula, we have:
\(FV = 5000 * ((1 + 0.08) ^ 25 - 1) / 0.08\)
Calculating this, we find that the future value is approximately $1,189,289.
Therefore, the answer to the first question is B. $1,189,289.
2. If the interest rate was only 4% per year instead of 8%, we can use the same formula to calculate the future value.
Using the formula again, but this time with an interest rate of 4%, we have:
\(FV = 5000 * ((1 + 0.04) ^ 25 - 1) / 0.04\)
Calculating this, we find that the future value is approximately $333,230.
Therefore, the answer to the second question is A. $333,230.
In summary:
1. The amount in the account immediately after making the last deposit at age 55 is approximately $1,189,289.
2. If the interest rate was only 4% per year, the amount in the account would be approximately $333,230.
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For question 1, the answer is A. $76,343, compound interest.
and for question 2, the answer is B. $120,192.
1. To calculate how much you will have in your account immediately after making the last deposit at age 55, we need to calculate the future value of the investment using the formula for compound interest.
First, we calculate the future value of each year's investment using the compound interest formula: Future Value = Principal × (1 + Interest Rate)^Time.
In this case, the principal is $5,000, the interest rate is 8%, and the time is the number of years from the first deposit at age 31 to the last deposit at age 55, which is 25 years.
Using this formula, we calculate the future value for each year's investment, and then sum them up to find the total amount.
After performing the calculations, the correct answer is A. $76,343.
2. If the interest rate was only 4% per year instead of 8%, we would follow the same steps as before but use the new interest rate.
Using the compound interest formula, we calculate the future value for each year's investment, and then sum them up to find the total amount.
After performing the calculations, the correct answer is B. $120,192.
In summary, for question 1, the answer is A. $76,343, and for question 2, the answer is B. $120,192.
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Bermuda Cruises issues only common stocks and coupon bonds. The firm has a debt-equity ratio of 0.45. The cost of equity is 17.6 percent. Required: What is the pre-tax cost of the company debt if weighted average costs of the company is 13.5% and the firm's tax rate is 35 percent? (10 marks)
Answer:
The pre-tax cost of the company debt is 6.75%
Explanation:
In order to calculate the pre-tax cost of the company debt if weighted average costs of the company is 13.5% and the firm's tax rate is 35 we would have to use the following formula:
weighted average cost of capital = pretax cost of debt (1 - tax rate) x weight of debt + cost of equity x weight of equity
0.135 = pretax cost of debt (1 - 0.35) x 0.45 / 1.45 + 0.176 x 1 / 1.45
0.135 = pretax cost of debt x 0.201724138 + 0.12137931
(0.135 - 0.12137931) / 0.201724138 = pretax cost of debt
6.75% Approximately = Pretax cost of debt
In South Africa , what are SABC, ESKOM and SAA are known as?
SABC, ESKOM, and SAA are all well-known acronyms in South Africa.
Here's what they stand for and what they are known for:SABC: The South African Broadcasting Corporation (SABC) is the national public broadcaster in South Africa. It provides a wide range of radio and television programming, including news, sports, entertainment, and educational content. It is often referred to as "the SABC" or simply "SABC."
ESKOM: Eskom Holdings SOC Limited (ESKOM) is a South African electricity public utility, responsible for generating, transmitting, and distributing electricity to South Africa and other neighboring countries. It is the largest electricity supplier in Africa and is often referred to as "Eskom."
SAA: South African Airways (SAA) is the national flag carrier airline of South Africa. It provides both domestic and international flights to various destinations around the world. It is often referred to as "SAA."
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Daniel has been working hard all year and just received a bonus check from his employer. Rather than spend
it now, Daniel stores all his money in a high-yield savings account because he is planning to buy a boat in
the future. Daniel is using money as a
a: store of value
b: medium of exchange
c: source of inflation
d: unit of account
Answer:
Store of Value.
Explanation:
Money will successfully function as a store of value when it’s easy to store and it can reliably hold its value over time.
Which of the following techniques for reducing resistance to change assumes that much of the resistance lies in misinformation?
a. education and communication
b. negotiation
c. facilitation and support
d. participation
The technique for reducing resistance to change that assumes much of the resistance lies in misinformation is a) education and communication.
Education and communication is a technique used to address resistance to change by focusing on providing accurate and relevant information to individuals or groups affected by the change. It assumes that resistance primarily arises from misinformation or a lack of understanding about the change and its implications.
By engaging in education and communication efforts, organizations aim to dispel misconceptions, clarify misunderstandings, and provide factual information about the change initiative. This can involve conducting training sessions, disseminating written materials, holding informational meetings, or utilizing various communication channels to ensure that stakeholders receive accurate and timely information.
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If market demand is not strong enough to provide a price that covers the average variable cost what conclusion should a business draw about its allocation of capital and labor? a. They need more advertising to change consumer desire for the product b. They have too many workers for their amount of capital c Their workers are not using their capital equipment efficiently d. They have too much capacity (capital) for the size of their market
If market demand is not strong enough to provide a price that covers the average variable cost, a business should draw the conclusion that they have too much capacity (capital) for the size of their market.
This means that the business is producing more than what the market demands, resulting in excess capacity and inefficient use of resources. The business may need to re-evaluate their production levels and adjust accordingly to match the demand of the market. This could mean reducing production or finding new markets to sell their product. It is important for businesses to regularly monitor market demand and adjust their allocation of capital and labor to ensure they are operating efficiently and effectively. Simply increasing advertising or reducing the number of workers may not solve the underlying issue of excess capacity and low demand.
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Which of the following is a common way to describe a product that is being offered for sale? (Select the best answer.)
Which of the following is a common way to describe a product that is being offered for sale? (Select the best answer.)
In business
On exchange
On the market
In the market
Answer:
On the market
Explanation:
On the market is the phrase that refers to items that have been offered to the market for sale. When an item has been labeled 'on the market,' it means the item is available for sale. Buyers are invited or welcomed to buy.
In the market is when a buyer is shopping for an item to buy. In the market for a car mean they are looking for a car to buy.
The primary reason for the recent reduction in the number of banks is:
A) bank failures.
B) re-regulation of banking.
C) restrictions on interstate branching.
D) mergers and acquisitions.
The primary reason for the recent reduction in the number of banks is option C) Mergers and acquisitions.
Mergers and acquisitions refer to a situation where two or more companies unite to form a single entity or when one company buys out another company. It's been the most common reason for the recent reduction in the number of banks.
There has been a significant decrease in the number of banks in the United States, and the primary reason is Mergers and acquisitions. In the past few years, many banks have merged or acquired other banks, resulting in fewer numbers of banks.
Mergers and acquisitions refer to a situation where two or more companies unite to form a single entity or when one company buys out another company. These mergers and acquisitions have allowed banks to increase their market share, increase their profitability, and cut costs.
On the other hand, bank failures, re-regulation of banking, and restrictions on interstate branching are not the primary reasons for the recent reduction in the number of banks.
Although these factors have also played a part, the effect has not been significant enough to account for the reduction in the number of banks. Therefore, the primary reason for the recent reduction in the number of banks is Mergers and acquisitions.
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The most basic form of ownership in a firm consists of:
Read the statements below. Select "L" if the statement describes the Linux OS. Select "M" if the statement describes the Mac OS. Select "W" if the statement describes the Windows OS.
L - Linux
M - Mac
W - Windows
___code can be modified by users
____customer service provided by volunteers
___introduced the first GUI
___open source
____used by the majority of businesses
_____widely used in artistic fields
All the above statements describe Linux OS.
"Code can be modified by users" refers to the open-source nature of Linux."Customer service provided by volunteers" can be interpreted as a reference to the community-driven support for Linux."Introduced the first GUI" is not accurate, as the first GUI was actually introduced by Xerox PARC, but Linux certainly played a role in popularizing the use of GUIs in computing."Open source" refers to the fact that Linux's source code is freely available for users to view, modify, and distribute.
explain why wants are considered unlimited, changing, and competing
Wants are limitless, they evolve through time, and as a result, they are in competition. Economics is the study of how to balance finite resources with infinite, conflicting wants.
We need and want an infinite amount of what is available. But our financial resources are constrained or finite. This is a core component of what it is to be human. Despite the fact that we use a variety of goods and services, it is never enough. Another way to say it is that there is always something else that I, you, or anyone else would need or want.
All social classes can use the expression. The requirements of low-income groups are always greater than their limited resources. However, middle-class and upper-class people have the same experience. Having insufficient resources all the time.
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