Question 6 Consider the following neighbourhood composed of 4 families - Acharya, Belloc, Chen, and Davies as shown in Figure 2. Each family has income as indicated by the number in the corresponding circle (40, 15, 5, and 20) for the first letter of their last name (A, B, C, and D). D AAD yº = 20 A = 40 CD C BD LO A 4AC VA 4AB 5 B y 15 BC A Figure 3: Households A, B, C, and D and their incomes in a neighbourhood What is the Gini coefficient for this neighbourhood? Define the Gini coefficient, explain how to find it, and show your work in finding the Gini coefficient for this neighbourhood. Question 7 [10 marks] Consider the Acharya and Chen families from Question 6 above about the Gini coefficient. Assume that the numbers in the bubbles for each family correspond to an index of the family's wealth (a higher integer corresponding to greater wealth). Explain, with reference to risk preferences and the appropriate graphs, why it is the case that the Chen family would be more likely to depend on wage work and the Acharya family may choose to engage in production of goods and services with their own project (working as an owner-operator); that is, not choosing to work for wages. [10 marks]
Answers
The Gini coefficient is a measure of income inequality. It is calculated by measuring the area between the Lorenz curve and the 45-degree line.
How to explain the informationThe Gini coefficient is calculated by dividing the area between the Lorenz curve and the 45-degree line by the total area under the 45-degree line. In this case, the area between the Lorenz curve and the 45-degree line is 0.36. The total area under the 45-degree line is 0.5. Therefore, the Gini coefficient for this neighbourhood is 0.72.
A higher Gini coefficient indicates greater income inequality. A Gini coefficient of 0 indicates perfect equality, while a Gini coefficient of 1 indicates perfect inequality.
The Chen family is more likely to depend on wage work because they have lower wealth. Wage work is a relatively stable source of income, which is important for families with low wealth. The Acharya family, on the other hand, has higher wealth. They may choose to engage in production of goods and services with their own project because this gives them more control over their income and allows them to potentially earn more money.
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Related Questions
are the costs related to the product that have to be paid regardless of the amount you sell.
A) Fixed cost
B) Opportunity costs
C) Variable costs
D) none of the above
Answers
Answer:
C) Variable costs
Explanation:
Xyz company owns 10000employees and has determind that it is very likely to suffer beetween 70 and 80 badily injery this year .assume the campany expect to suffer 75 injuries
Answers
The XYZ company has determined that it is very likely to suffer between 70 and 80 injuries this year.
Assuming the company expects to suffer 75 injuries, we can calculate the probability of suffering exactly 75 injuries using the concept of probability distribution.
To calculate the probability, we can use the binomial probability formula. In this case, the formula is:
P(X = k) = (n C k) * p^k * (1 - p)^(n - k)
Where:
P(X = k) is the probability of exactly k injuries
n is the total number of trials or employees (10,000 in this case)
k is the number of successes or injuries (75 in this case)
(n C k) is the combination formula, which calculates the number of ways to choose k injuries out of n employees
p is the probability of a single employee suffering an injury (unknown in this case)
Since the company has determined that it is very likely to suffer between 70 and 80 injuries, we can assume that the probability is approximately equal for each injury count within that range. So, let's assume that p is the probability of a single employee suffering an injury.
To calculate p, we can divide the total expected injuries (75) by the total number of employees (10,000):
p = 75 / 10,000
Now, let's substitute the values into the formula and calculate the probability:
P(X = 75) = (10,000 C 75) * (75 / 10,000)^75 * (1 - 75 / 10,000)^(10,000 - 75)
Calculating this probability might be challenging due to the large numbers involved.
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__________ are independently owned third-party net marketplaces that connect thousands of suppliers and buyers for spot purchasing.
Answers
Exchanges are privately held third-party online markets that link thousands of providers and buyers for on-the-spot transactions.
Third-party:
A third party is a person who plays a modest role in a business transaction or legal dispute but is not one of the key players. You can give your bank instructions to permit a third party to withdraw money from your account.A third party is, in the opinion of experts, a person or group involved in a situation, particularly a dispute, other than the couple. He or she may be a family member, acquaintance, coworker, or neighbor of one of the couples.A third party has an interest in a deal but who is not a party to it (such as one who is a buyer from one of the parties, was present when the agreement was signed or made an offer that was rejected).Learn more about third-party here brainly.com/question/12401053
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in addition to being valid, a pre-employment test should be consistent with eeo laws, be ethical, and protect the test taker's privacy. these considerations are important when .
Answers
In addition to being valid, a pre-employment test should also be consistent with EEO laws, be ethical, and protect the test taker's privacy. These considerations are important when implementing pre-employment tests to ensure fairness and legality. Consistency with EEO laws:
Ethical considerations: An ethical pre-employment test should be designed to assess job-related skills and qualifications. It should not include irrelevant or invasive questions that violate the test taker's privacy. For instance, asking personal questions about an individual's sexual orientation or medical history may be considered unethical unless directly related to the job requirements.
Considering these factors ensures that pre-employment tests are fair, lawful, and respectful of the individual's rights. By adhering to EEO laws, maintaining ethical standards, and protecting privacy, employers can make informed hiring decisions while treating all applicants with dignity and respect. (more than 200 words)
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A global computer network providing a variety of information and communication facilities, consisting of interconnected networks using standardized communication protocols.
Answers
Answer:
The correct answer is "Internet".
Explanation:
A global structure of data networks, the collection of several types of networks throughout which the clients at any device will, whether they have the authorization, obtain some technical information from other devices, recognized as an internet. Which utilizes a fraction of that same cumulative capacity of the already additional infrastructure network systems.It is impossible to reduce your fixed expenses true or false?
Answers
Answer:
True
Explanation:
what is the source of ya’s financial shortfall and operating problems
Answers
The source of YA's financial shortfall and operating problems is likely due to a combination of factors such as poor financial management, excessive expenses, low revenue generation, or inefficient operations.
YA's financial shortfall and operating problems can stem from various sources within the organization. One possible factor could be poor financial management, including inadequate budgeting, ineffective cost control measures, or mismanagement of funds. This can lead to financial instability and an inability to meet financial obligations.
Additionally, excessive expenses can contribute to YA's financial shortfall. This may include high operating costs, excessive overhead expenses, or inefficient allocation of resources. If expenses outweigh the revenue generated, it can lead to financial difficulties.
Low revenue generation can also be a significant source of YA's financial problems. This may be due to various reasons such as a decline in sales, inability to attract customers, or ineffective marketing strategies. Insufficient revenue can hinder the company's ability to cover expenses and invest in growth opportunities.
Furthermore, operational inefficiencies can impact YA's financial performance. This may involve inefficient production processes, supply chain issues, inadequate inventory management, or poor customer service. These operational challenges can result in increased costs, delays, and dissatisfied customers, ultimately affecting the company's financial health.
In summary, the financial shortfall and operating problems experienced by YA can be attributed to factors such as poor financial management, excessive expenses, low revenue generation, and inefficient operations. Identifying and addressing these issues is crucial for improving YA's financial stability and overall performance.
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1) State with reasons, the method you would adopt to price materials into production.
i.)in a period of rapidly increasing prices of the material,
ii). in a period of rapidly reducing prices of the material.
Answers
The method you would adopt to price materials into production:
i) In a period of rapidly increasing prices of the material is price penetration
ii). in a period of rapidly reducing prices of the material is price skimming
What is pricing methods?Pricing Methods are the ways in which the price of goods and services are determined. It is computed from all factors such as the resources and materials used for production.
In a period of rapidly increasing prices of the material you maintain a low price because of competitive market and then raise the price later. It called penetration price
In a period of rapidly reducing prices of the material use price skimming where you maintain your high price of selling and lower it as the market evolves.
Therefore, different pricing strategy works for different period and market season.
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do you have resources that will help you meet your needs
Answers
Answer:
yes
Explanation:
yes
Friday night is a good time to bring in the comments about me being tested for you and your team to make me want you and your team
When a financial institution makes a real estate loan to a home buyer, the transaction takes place: - When the buyer proves his creditworthiness -Illegally -In a primary market -In a secured environment
Answers
Answer:
When the buyer proves his creditworthiness
Explanation:
In simple words, the creditworthiness refers to the ability of a borrower to pay back the loan to the lender at the specified time and interest. While taking loan form a financial institution the home buyer first have to prove that he or she is able to pay back the loan taken.
Thus, from the above we can conclude that the correct option is A.
Assume the assumptions of the CAPM, with E(rm)=[m]%, SDm=[s]% and the rf-=[f]%.If you have a stock that has a beta=[b] what is expected return of the stock?
2. Use the following information for stock ROCK and stock ROLL:
E(rROCK)=.11 SDrock=.20
E(rROLL)=.15 SDroll=.25
rf=.02 Correlation coefficient= .75
A) Find the expected return of a portfolio with 30% allocatedto stock ROCK and 70% allocated to stock ROLL
B) Find the standard deviation of a portfolio with 30% allocated to stock ROCK and 70% allocated to stock ROLL
Answers
The expected return of a portfolio with 30% allocated to stock ROCK and 70% allocated to stock ROLL can be calculated using the weighted average of the expected returns of the individual stocks. Assuming the correlation coefficient is 0.75.
we can use the formula:
Expected Return of Portfolio = (Weight of Stock ROCK * Expected Return of Stock ROCK) + (Weight of Stock ROLL * Expected Return of Stock ROLL)
Expected Return of Portfolio = (0.3 * 0.11) + (0.7 * 0.15)
Therefore, the expected return of the portfolio is 0.132 or 13.2%.
B) The standard deviation of a portfolio can be calculated using the individual stock standard deviations and the correlation coefficient. Assuming the correlation coefficient is 0.75, we can use the formula:
Portfolio Standard Deviation = √[(Weight of Stock ROCK)^2 * (Standard Deviation of Stock ROCK)^2 + (Weight of Stock ROLL)^2 * (Standard Deviation of Stock ROLL)^2 + 2 * (Weight of Stock ROCK) * (Weight of Stock ROLL) * (Standard Deviation of Stock ROCK) * (Standard Deviation of Stock ROLL) * (Correlation Coefficient)]
Portfolio Standard Deviation = √[(0.3)^2 * (0.20)^2 + (0.7)^2 * (0.25)^2 + 2 * (0.3) * (0.7) * (0.20) * (0.25) * (0.75)]
Therefore, the standard deviation of the portfolio is approximately 0.208 or 20.8%.
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The expected return of a portfolio with 30% allocated to stock ROCK and 70% allocated to stock ROLL can be calculated using the weighted average of the expected returns of the individual stocks. Assuming the correlation coefficient is 0.75.
we can use the formula:
Expected Return of Portfolio = (Weight of Stock ROCK * Expected Return of Stock ROCK) + (Weight of Stock ROLL * Expected Return of Stock ROLL)
Expected Return of Portfolio = (0.3 * 0.11) + (0.7 * 0.15)
Therefore, the expected return of the portfolio is 0.132 or 13.2%.
B) The standard deviation of a portfolio can be calculated using the individual stock standard deviations and the correlation coefficient. Assuming the correlation coefficient is 0.75, we can use the formula:
Portfolio Standard Deviation = √[(Weight of Stock ROCK)^2 * (Standard Deviation of Stock ROCK)^2 + (Weight of Stock ROLL)^2 * (Standard Deviation of Stock ROLL)^2 + 2 * (Weight of Stock ROCK) * (Weight of Stock ROLL) * (Standard Deviation of Stock ROCK) * (Standard Deviation of Stock ROLL) * (Correlation Coefficient)]
Portfolio Standard Deviation = √[(0.3)^2 * (0.20)^2 + (0.7)^2 * (0.25)^2 + 2 * (0.3) * (0.7) * (0.20) * (0.25) * (0.75)]
Therefore, the standard deviation of the portfolio is approximately 0.208 or 20.8%.
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Comment on the following statement made by a plant manager: "Meetings with my plant accountant are frustrating. All he wants to do is pin the blame on someone for the many variances he reports."
Answers
The plant manager feels frustrated with the plant accountant's focus on identifying variances and assigning blame.
The plant manager's statement suggests a perception of frustration with the plant accountant's approach to reporting variances. The manager may feel that the accountant's emphasis on identifying variances and attributing blame overlooks the underlying causes or fails to provide constructive solutions. It implies a potential disconnect between the plant manager's perspective on problem-solving and the accountant's focus on analyzing and addressing financial variances. This misalignment of expectations and communication can hinder collaboration and hinder the ability to address issues effectively. Open and transparent communication between the manager and accountant is crucial to finding common ground and resolving any frustrations.
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Discuss about the main types of fish available in Nepal.
Answers
Answer:
There are many types of fish in nepal but and seven of the major types are:-Mola carplet (Amblypharyngodon mola)
Mola carplet (Amblypharyngodon mola)Bighead carp
Mola carplet (Amblypharyngodon mola)Bighead carp Jaya or Mara
Mola carplet (Amblypharyngodon mola)Bighead carp Jaya or Mara Aspidoparia morar
Mola carplet (Amblypharyngodon mola)Bighead carp Jaya or Mara Aspidoparia morarBarred baril
Barnaby baril
Hamilton's barila
Explanation:
I am sure to will get 6 marks out of 6 marks if you submit this answer!
What suggestions did you receive from your partner? (list
each suggestion)
Answers
The journal requires a critical reflection of the outcomes of two surveys - the Stress Management survey and the Connecting with People survey.
1. The study partner's suggestions may include but are not limited to, finding ways to manage stress, developing healthy habits such as exercising, eating nutritious meals, having positive affirmations, and practicing self-care techniques.
2. There can be suggestions that one may dislike because they are not comfortable or unwilling to accept the changes. For example, if a suggestion involves reducing caffeine intake, someone who is addicted to coffee may not like the suggestion.
3. After going through the survey and discussing with a study partner, one can decide to adopt certain suggestions and not adopt others.
4. Actions one can take after going through the information can include setting goals to develop healthy habits, looking for stress-relieving activities, creating a daily routine, and developing better communication skills with friends and family. Finally, the answers from the four questions above should be summarized in the journal.
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Complete Question : This journal is for critical reflection about the results of the Stress Management and Connecting with People surveys in your development plan. After you have completed the survey and talked with your study partner, answer the following questions: 1. What suggestions did you receive from your partner? (list each suggestion) 2. What suggestions did you Like or Dislike and why? 3. What decisions did you make as a result of this survey? 4. What actions you plan to take as a result of this information and why? If your answer is nothing, why not?
Jolene has always wanted to work in Physical Therapy. Which career would be the best choice if she wants to get into a job that has fast-growing availability?
A. Physical Therapist Assistant
B. Physical Therapist Aide
C. Physical Therapist
D. Physical Therapist Technician
help? D:
Answers
Answer:
A.) Physical Therapist Assistant
Explanation:
Just did on Edge 2020. Hope this helps you and others out.
The best career choice that would have taken by Jolene in order to work in the field of Physical therapy is to become a Physical Therapist Assistant.
Option A is the correct answer.
What is meant by physical therapy?Physical Therapy is a kind of treatment done by professionals to relieve a person from pain.
Physical therapist Assistants are professionals who are qualified with an accredited degree in the course of Physical Therapy Education. They are worked under the guidance of Physical Therapists. They also helped the physical therapists with the healthcare problems of the infants to the individual who died.
Therefore, the Physical therapist assistant would be the career chosen by Jolene in order to work in the desired field.
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CHARACTERISTICS OF SHORT TERM SAVINGS STRATEGIES
Answers
Answer:
saving accounts at banks... That's what the internet told me :|
Explanation:
Conclusion about public companies and state owned enterprises task
Answers
Public company is a company that has the opportunity to sell all or a portion of the company to the public where state-owned enterprise serves as a legal entity that is created by a government.
What is public and state owned company?A public company can be described as the company that can sell all or a portion of itself to the public .
A state-owned company on the other hand is a legal entity which is been created by a government for the sake of commercial activities which is been run on government's behalf.
Therefore, Public company is a company that has the opportunity to sell all or a portion of the company to the public where state-owned enterprise serves as a legal entity that is created by a government.
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Lloyd is the manager of the marketing department for a large firm. His department was given 3 new computer systems. Lloyd must determine which of his employees should get the new equipment. By doing so, Lloyd is acting as a
Answers
Lloyd is the manager of the marketing department for a large firm. His department was given 3 new computer systems. Lloyd must determine which of his employees should get the new equipment. By doing so, Lloyd is acting as a resource allocator.
Lloyd, as the manager of the marketing department for a large firm, is responsible for overseeing the tasks and performance of his employees. One crucial role that Lloyd plays is that of a resource allocator. In this specific case, his department has received three new computer systems, and Lloyd must make a decision about which employees will be assigned the new equipment.
As a resource allocator, Lloyd needs to evaluate the needs and priorities of his department to ensure that the new computer systems are utilized most effectively. He may consider factors such as the workload of each employee, their role in the department, and the extent to which their tasks require advanced computing capabilities. Additionally, Lloyd may also take into account the current performance and future potential of each employee, as the new equipment could potentially enhance their productivity and contribute to the overall success of the department.
In making his decision, Lloyd should consider not only the immediate benefits of allocating the new computer systems to certain employees but also the long-term impact on the department's performance and growth. By acting as a resource allocator, Lloyd demonstrates his ability to make strategic decisions that are in the best interest of his department and the firm as a whole. This skill is essential for effective management and contributes to the success of the marketing department within the larger organization.
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What can be said about the culture of services?
I. Processes are invisible
II. Processes are well defined
III. More scientific
IV. Not well defined or documented
A. I, II, and III only
B. I, II, and IV only
C. II, III, and IV only
D. All of the above
Answers
In the service culture, processes are invisible and procedures are not well defined or documented. This culture is focused on customer service, to provide the best experience.
Therefore, processes are invisible, that is, the customer is not able to identify internal processes if they are not useful, but they must perceive the service as a mystery where all their needs are promptly met.
In the service culture, this is also not well defined or documented, so as not to create standardization of the service, but a personalized service that meets the needs of each customer individually.
Therefore, in the service culture, the focus is on offering the best experience for the customer, through the creation of value, excellent service and employees capable of satisfying their needs.
The service culture is capable of generating greater competitiveness, customer loyalty and positioning for a company.
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give four reason as to why being an entrepreneur is beneficial than a doing a job
Answers
Answer:
Hope this helps!
4 reasons:
Explanation:
1) Being an entrepreneur is beneficial because it helps you get to know yourself better. You get to be your own boss.
2) Entrepreneurs get to make their own schedule. You can work for flexible hours.
3) You get to be more independent. Taking entrepreneurship will grant you freedom.
4) Choosing to be an entrepreneur is a big risk. This means your taking a challenge in your life. You'll make yourself stronger!
The best part though? It is a big satisfaction when you succeed, yeah and you'll definitely be proud of yourself.
gertrude quit her $40,000- per- year job to start her own own consulting firm. she withdrew her savings of $50,000 which was earning her an interest of $2000 in the bank and invested in her own consulting firm. at the end of her first year of operation, her total revenues were $208,000. her total explicit costs were $108,000. how much are her accounting profits from her own consulting firm? group of answer choices $30,000 $100,000 $50,000 $48,000
Answers
Gertrude's accounting profits from her consulting firm are $100,000, calculated by subtracting explicit costs ($108,000) from total revenues ($208,000).
To calculate Gertrude's accounting profits, we need to subtract her explicit costs from her total revenues.
Total revenues = $208,000
Explicit costs = $108,000
Accounting profits = Total revenues - Explicit costs
= $208,000 - $108,000
= $100,000
Hence, Gertrude's accounting profits from her own consulting firm are $100,000.
Therefore, Gertrude's decision to start her own consulting firm has resulted in a positive accounting profit of $100,000. This indicates that her firm's revenues from consulting services exceed the explicit costs incurred in running the business.
It is important to note that accounting profits do not take into account implicit costs, such as the opportunity cost of Gertrude quitting her job and the foregone interest income from her savings. However, based on the given information, her accounting profits alone amount to $100,000. Hence, Gertrude's accounting profits from her own consulting firm are $100,000.
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You are planning to finance your start up with a bank loan of 400,00 and equal contribution of 50,000 each cash from a group of partners you need $1.2million for the start up how many partners including yourself do you need to recruit
Answers
In order to raise the $1.2 million needed for startup costs, which includes hiring yourself and 30930589 other people, you plan to finance your business with a bank loan of $400,000 and an equal cash commitment of $50,000 from a group of partners.
What is meant by Startup Business ?
Nevertheless, it might be difficult to secure finance for a business that is still in its infancy or early stages. Also, the Micro, Small, and Medium Businesses (MSME) sector in India has only a limited amount of access to formal finance, which is why the Indian government opted to implement startup business financing programs for MSMEs and startups.
Instead of going via banks, the Small Industries Development Bank of India (SIDBI) has started lending directly to MSMEs and startups. These loans have interest rates that are almost 300 basis points lower than those that banks offer.
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During what marketing era were manufacturers concerned with product innovation and not with satisfying the needs of individual consumers?.
Answers
During the Production Oriented Era, manufacturers were concerned with the innovation of products and not with satisfying the needs of individual consumers.
What do you know about Production Oriented Era?A commercial enterprise-dominated market sustained from the beginning of Capitalism to the mid-1950s, which is referred to as the production-oriented era.
The winning mindset was that a very good excellent product might truly promote itself. This technique labored for plenty of companies for the duration of this Era due to strong demand and restricted delivery of products.
Thus, During the Production Oriented Era, manufacturers were concerned with the innovation of products and not with satisfying the needs of individual consumers.
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What is the objective of the Joint Project Planning Session?
Question 5 options:
Produce a detailed Project Plan
Produce Conditions of Satisfaction
Produce a Project Overview Statement
Produce Stakeholder Agreements
Which of the following is NOT a situation requiring team operating rules?
Question 16 options:
Conflict resolution
Problem solving
Project Training
Decision making
Mr. John Smith has been appointed as manager of large installation project. In his new role, Mr. Smith is responsible for managing potentially 300 stakeholders. Which of the following would be the BEST course of action for him to take?
Question 25 options:
Gather the needs
Find an effective way to gather the needs of all stakeholders
Contact the CEO and ask which stakeholders are most important
Eliminate some stakeholders
Answers
Produce a Project Overview Statement. Project Training. Find an effective way to gather the needs of all stakeholders.
The objective of the Joint Project Planning Session is to produce a Project training. This statement provides a high-level overview of the project, including its goals, scope, deliverables, and key stakeholders. It serves as a concise summary that helps align the project team and stakeholders on the project's direction and objectives. Project Training is not a situation that requires team operating rules. Team operating rules are typically established to guide and regulate team activities in areas such as conflict resolution, problem solving, and decision making. Project training, on the other hand, focuses on equipping team members with the necessary skills and knowledge to effectively perform their roles and contribute to the project's success.
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A recent poll of Canadians has indicated that would like to see senior management heid criminaly responsible for avoidable (especially fatal) accidents that occur in the workplace. 10−15% 20-30%6 40−50% 60−7096 over 80%
Answers
A recent poll indicates that over 80% of Canadians want senior management to be held criminally responsible for avoidable workplace accidents, particularly fatal ones.
Workplace accidents can be devastating and can have long-lasting impacts on the lives of those involved and their families. Accidents, particularly avoidable ones, can leave workers with serious injuries or can even result in fatalities. In a recent poll of Canadians, over 80% of respondents expressed a desire to see senior management held criminally responsible for these types of incidents. Senior management is responsible for ensuring that workplace safety standards are met and that employees are trained and equipped with the necessary tools to work safely. When accidents occur, it may be an indication of a failure in these responsibilities. Holding senior management accountable for avoidable accidents could serve as a strong deterrent to prevent similar incidents from happening in the future and could improve workplace safety for all employees. Overall, the poll results suggest that Canadians place a high value on workplace safety and believe that senior management should be held accountable when safety standards are not met.
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Jobs that require lower level skills have better benefits, like health insurance, than jobs that require a college education. Please select the best answer from the choices provided T or F
Answers
Answer:
falseeeee
Explanation:
Answer:
nope (false)
Explanation:
What should you avoid using when writing a formal email?
O An official signature
O Emojis
O Familiar acronyms
O Last names
Answers
Emojis are not formal and they should not go in a formal email
Answer:
emojis
Explanation:
Write a paragraph explaining what kind of assessment works best for you to really be able to show what you know. (Consider standardized tests, open ended responses, essays, projects, speeches, labs). Explain how your learning style may influence your success on each kind of assessment. 100 POINTS PLZ HELP TODAY
Answers
Answer:
In my experience, essays work best for me to be able to show what I know. I feel that they are more effective than taking, say, a standardized test for example. This is because they are often multiple choice, and I find myself sometimes guessing rather than doing the intended work. In an essay, I have no option other than to type/write out what I know with little-to-no guesswork, making writing out an essay a superior option when it comes to displaying my knowledge on a topic. My preferred learning style is of the visual sort, and that means I learn best by taking notes, seeing examples, using charts and diagrams, etcetera. These skills influence my success on many different types of assessments, including essay writing, test taking, and project making. I am able to visually take notes on the topic at hand, often with examples, which, in my experience, greatly influences my success on these different types of assessments.
As we have discussed, the most fundamental study of economics must address
the issue of needs vs. wants and the consideration of available resources in
making choices. go to the discussion board and tell about a recent purchase you
or your family made that required you to make a choice between a need and a
want.
this situation may deal with you personally or with your family as a whole. if you
have not made any personal purchases in the last few months, ask one of your
parents (or another adult) to share with you a purchase they made and the reasons
why they chose the product they purchased over another product. share with the
class the scenario by discussing the item purchased, the other items that were
considered, and the reasons the item purchased was chosen over the others.
comment on some of the entries of your classmates. refer to the discussion
rubric for guidance.
Answers
Let's consider a scenario where a person is in need of a new refrigerator. The person has limited financial resources and needs to make a choice between a basic model that only meets their needs and a more expensive model with additional features that they would like but are not necessary.
In this scenario, the person's need is for a functional refrigerator to store their food and keep it fresh. The want is for additional features such as a water dispenser, an ice maker, and a larger capacity. The person considers their options and realizes that the basic model that only meets their needs is within their budget, while the more expensive model with additional features is beyond their budget. The person ultimately decides to purchase the basic model that meets their needs and forgoes the additional features that they would have liked but are not necessary. This scenario demonstrates the concept of balancing needs and wants and the consideration of available resources in making choices. It highlights the importance of prioritizing needs over wants and making choices that are within one's budget and financial means.
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use the table and proivded and explain the law of diminshing returns
plz help asap
Answers
Answer:
The law of diminishing returns states that at some point, the amount of additional output per amount of additional input decreases more and more as more inputs are used. In other words, at some point the marginal product will continuously decrease with more labor (input).
This is reflected in the table, where marginal product decreases past 2 units of labor. At 2 units, the marginal product is 14. This reduces to 6 at 3 units, and further to 2 with 12 units of labor.
Explanation: