think about how and why goods and resources are scarce. goods and resources can be inherently scarce at all times, can be scarce on occasion due to temporary or seasonal issues, or can be artificially scarce when access to the resource is restricted. for each of the following goods and resources, indicate whether the good is artificially scarce, inherently scarce, or not scarce. a. air regardless of quality: not scarce . b. land: inherently scarce . c. patented goods: artificially scarce . d. original picasso paintings: inherently scarce .
Answers
Holiday lights in mid-December are artificially scarce, whereas air, land, patented goods, and original Picasso paintings are inherently scarce.
For a variety of causes, some of which are inherent in their nature and others of which are purposely generated, goods and resources might be limited.
Due to their limited availability and high demand during a specific time of year, holiday lights are artificially scarce in the middle of December.
Due to the limited supply in the atmosphere and its finite nature, air is naturally scarce regardless of its quality.
Because it is a limited resource and its availability is influenced by things like population expansion and competition for its usage, land can become scarce on occasion.
The manufacturing and sale of patented items are constrained by the patent holder, creating an artificial scarcity of them. Finally, due to their scarcity and the fact that they can never be duplicated, genuine Picasso paintings are inherently rare.
Complete Question:
Think about how and why goods and resources are scarce. Goods and resources can be scarce for reasons that are inherent to their nature at all times, temporary or seasonal, or artificially created. For each of the following goods and resources, indicate whether the good is artificially scarce, inherently scarce, scarce on occasion, or not scarce.
a. Holiday lights in mid-December: (Click to select)Artificially scarceScarce on occasionNot scarceInherently scarce.
b. Air regardless of quality: (Click to select)Inherently scarce Artificially scarce Scarce on occasion Not scarce
c. Land: (Click to select)Scarce on occasion Inherently scarce Not scarce Artificially scarce.
d. Patented goods: (Click to select)Scarce on occasion Not scarce Artificially scarce Inherently scarce.
e. Original Picasso paintings: (Click to select)Inherently scarce Artificially scarce Not scarce on occasion.
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Related Questions
Linda's company acquired 6,000 new customers last year. They spent $40,000 in marketing costs and $20,000 in sales costs. What is Linda's customer acquisition cost (CAC)?
Answers
Answer:$10.00
Explanation:(cost of sales + cost of marketing) / new customers acquired. So $20,000 plus $40,000 is $60,000 then divide that sum by the acquired customers which is 6,000 and you get 10
Client Acquisition Cost is $10 for Linda , which is determined by dividing the cost of sales and marketing by the quantity of new customers acquired,.
What exactly does a CAC stand for?Customer acquisition cost (CAC), also known as the cost of customer acquisition (CoCA), is best described as the sum of all sales and marketing expenses necessary to acquire a new customer. A customer's lifetime value and the cost of obtaining them are compared using a ratio called the Customer Lifetime Value to Customer Acquisition Cost (LTV:CAC).
(Sales + Marketing Cost) / the number of new clients attracted.
20,000 +40000= $60000
60000/6000=$10, and Linda's CAC is also $10.
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Deciding which car to buy requires thinking; critical thinking, however, involves considering multiple choice how to finance the car. whether it would be a more environmentally sound choice to ride a bike. whether you have good reasons for choosing a particular car. whether you need a car at all.
Answers
Answer:
whether you have good reasons for choosing a particular car.
Explanation:
When deciding which car to buy, it is necessary for an individual to adopt critical thinking in order to decide what are the reasons that will lead him to choose a particular car.
Critical thinking will help to identify whether the features and benefits of a car model are aligned with issues relevant to the consumer, such as price, costs, design, style, etc.
The consumer when deciding to buy something goes through different stages in the purchase decision process, which is identifying needs, searching for information on solutions to their problem, analyzing the available options and purchasing. By following these steps, it is possible to develop critical thinking that will lead the consumer to make an accurate and effective purchase to satisfy their needs and desires.
the price of energy drinks increases by 20 percent and the demand for energy drink falls by 15 percent. based on this information, the price elasticity of demand is?
Answers
The price elasticity of demand, based change in the price of energy drinks and the change in demand is - 0.75
How to find the price elasticity of demand?The price elasticity of demand shows the impact of a change in price on the demand for a product .
The price elasticity of demand is found by the formula :
= Change in quantity demanded / Change in price
For the energy drinks, the price elasticity of demand would be:
= - 15 % / 20 %
= - 0. 75
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The market return is 10% and the risk free rate is 3%. Rascals Inc. has a market beta of 1.0, a SMB beta of −.60, and a HML beta of −0.85. If the risk premium on HML and SMB are both 2%, using the Fama-French Three Factor Model, what is the expected Return on Rascal Inc. stock?
Answers
The market return is 10% and the risk free rate is 3%. Rascals Inc. has a market beta of 1.0, an SMB beta of −.60, and an HML beta of −0.85. The expected return on Rascal Inc.'s stock is 0.44%.
What is the expected Return?Generally, To calculate the expected return on Rascal Inc. stock using the Fama-French Three Factor Model, you need to first calculate the excess return on the market (also known as the market risk premium), which is the difference between the market return and the risk-free rate. In this case, the excess return on the market is 10% - 3% = 7%.
Next, you need to calculate the sensitivity of Rascal Inc.'s stock returns to the market, small size, and value factors. This is done by multiplying the respective betas by the excess return on the market and the risk premiums for the small size and value factors.
For the market factor, the sensitivity is equal to the market beta of 1.0 multiplied by the excess return on the market of 7%, or 7%.
For the small size factor, the sensitivity is equal to the SMB beta of -0.60 multiplied by the excess return on the market of 7% and the risk premium on the small size factor of 2%, or -2.82%.
For the value factor, the sensitivity is equal to the HML beta of -0.85 multiplied by the excess return on the market of 7% and the risk premium on the value factor of 2%, or -3.74%.
To calculate the expected return on Rascal Inc.'s stock, you need to add the excess return on the market, the sensitivity to the small size factor, and the sensitivity to the value factor.
In this case, the expected return on Rascal Inc.'s stock is 7% - 2.82% - 3.74% = 0.44%.
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Why should you check the spelling by reading a document even if you used Writer's Spell Check feature? A. The Spell Check dictionary is usually out of date. B. Spell Check won't recognize mistakes you've made when you misspell a word in a way that makes another word. C. Spell Check only checks the first half of a document, so you have to check the rest yourself. D. The Spell Check suggestions are always wrong.
Answers
Answer:
B) Spell Check won't recognize mistakes you've made when you misspell a word in a way that makes another word.
Explanation:
explain advertisement
Answers
Answer: Advertisement is a marketing communication. It is used to promote businesses and their products. Used to promote more effectiveness in a businesses profit and their sales. May be seen in the form of commercials or billboard announcements in everyday life.
Draw indifference curves that represent the following individual preferences for hamburgers and soft drinks
a. Joe has convex preferences and dislikes both hamburgers and soft drinks.
b. Jane loves hamburgers and dislikes soft drinks. If she is served a soft drink, she will pour it down the drain rather than drink it.
c. Bob loves hamburgers and dislikes soft drinks. If he is served a soft drink, he will drink it to be polite.
d. Molly loves hamburgers and soft drinks, but insists on consuming exactly one soft drink for every two hamburgers that she eats. . Bill likes hamburgers, but neither likes nor dislikes soft drinks
Answers
Indifference curves are used to represent an individual's preferences over a set of goods. They show the different combinations of goods that an individual is indifferent between, meaning that they would be equally happy consuming any of the combinations on the curve.
(a) Joe, who has convex preferences and dislikes both hamburgers and soft drinks, his indifference curves would be bowed outward, as shown in the diagram below. This indicates that he would prefer a more balanced mix of hamburgers and soft drinks to a more skewed mix.
(b) Jane, who loves hamburgers and dislikes soft drinks, her indifference curves would be steep and sloping downward to the right, as shown in the diagram below. This indicates that she would prefer more hamburgers to fewer and would be willing to give up soft drinks in order to get them.
(c) Bob, who loves hamburgers and dislikes soft drinks but will drink them to be polite, his indifference curves would be similar to Joe's but would be convex, as shown in the diagram below.
(c) Molly, who loves hamburgers and soft drinks but insists on consuming exactly one soft drink for every two hamburgers that she eats, her indifference curves would be linear and have a slope of -1/2, as shown in the diagram below. This indicates that she values soft drinks and hamburgers equally and wants to consume them in a 1:2 ratio.
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Jordan is living out the american dream; at long last he is ready to purchase his dream home, a two-story house in a modern, happening suburb just outside los angeles. Before he can purchase the house, though, he needs a loan. At the loan office, a credit check is performed on jordan despite the fact that he insists that he is fiscally responsible. The loan office discovers that jordan has bad credit due to unpaid credit card bills and refuses to give him a loan, dashing his dreams of his first home. This credit check is an example of moral hazard. Signaling. Screening. A sin tax
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This credit check is an example of screening by the company given that a credit check is being performed on Jordan. Option 3
What is a credit check?A credit check, sometimes referred to as a credit search, is when a business examines data from your credit report to comprehend your spending patterns. Although they don't always require your permission to do this, they must have a good reason (e.g. you applied for a loan with them).
Your credit reports detail the kinds of credit accounts you've had, your payment history, and other details including your credit limitations.
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one part of a cooperations income is paid out to shareholders it is called a ______.
Answers
Answer:
dwadaddaddadawdawdwa
Explanation:
awdawdadawdawdawdaw
Answer:
cash dividend
Explanation:
which of the following statements regarding thunderstorms is correct? a. thunderstorms and their consequences are common, but rarely create problems. b. it is necessary for it to be raining to be struck by lightning. c. sustained winds of more than 20 mph and hail greater than or equal to 2 inches in diameter are characteristic of severe thunderstorms. d. annual property loss resulting from thunderstorms, including damage to farms and barns, is estimated in the hundreds of millions of dollars.
Answers
herefore, the correct statement regarding thunderstorms is option D, i.e., annual property loss resulting from thunderstorms, including damage to farms and barns, is estimated in the hundreds of millions of dollars.
Thunderstorms are weather-related phenomena that can create many issues. Thunderstorms often produce gusty winds, heavy rainfall, and lightning that might cause significant damage to property and life.
T In the United States, thunderstorms are common weather phenomena, particularly during the spring and summer months.
When a storm system moves through, it may cause lightning, hail, and damaging winds.
Because of their frequency, thunderstorms are responsible for significant annual property damage.
For instance, the National Weather Service reported that in 2020, there were 18 weather and climate disasters with losses exceeding $1 billion each.
These disasters resulted in a total of $95 billion in damages. Therefore, option D is the correct statement regarding thunderstorms.
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you maintain an average balance of $950 on your credit card, which carries an 18% annual interest rate
Answers
The annual interest expense on an average balance of $950 on a credit card with an 18% interest rate would be $171.
How much would you pay in annual interest on a $950 average credit card balance with an 18% interest rate?To calculate the annual interest expense, we multiply the average balance by the annual interest rate. In this case, the average balance is $950 and the annual interest rate is 18%.
Interest Expense = Average Balance * Annual Interest Rate
Interest Expense = $950 * 0.18
Interest Expense = $171
Therefore, the annual interest expense on an average balance of $950 with an 18% interest rate would be $171.
It's important to be aware of the interest rates on credit cards and to manage credit card balances responsibly to avoid accumulating high interest charges.
Paying off credit card balances in full and on time each month can help minimize interest expenses and maintain a healthy financial standing.
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A firm's opportunity costs of production are equal to its a. explicit costs only. b. implicit costs only. c. explicit costs implicit costs total revenue. d. explicit costs implicit costs.
Answers
A firm's opportunity costs of production are equal to its implicit costs only.
What is opportunity cost?Opportunity cost is an economic term for expressing cost in terms of foregone alternative. It is the loss of potential gain from other alternatives when one alternative is chosen.
Implicit cost is the opportunity cost equal to what a firm must give up in order to use a factor of production for which it already owns and thus does not pay rent.
Hence, a firm's opportunity costs of production are equal to its implicit costs only.
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Markets fail to allocate resources efficiently when a. demanders and suppliers cannot agree on a price. b. property rights are not well established. c. too many buyers and sellers exist in the same market. d. goods are rival in consumption and excludable.
Answers
Answer:
b. property rights are not well established.
Explanation:
Since in the question it is mentioned that the markets is not able to allocate or distribute the resources efficiently and this would happen at the time when the property rights were not well created or developed
Therefore as per the given situation, the option b is correct
hence, the same is to be considered
ANd, the rest of the options are wrong
suppose you find a $50 bill that you put in a coat pocket last winter. if you deposit it in your checking account: a m1 increases by $50 and m2 decreases by $50. b m1 and m2 both increase by $50. c m1 increases by $50. d m2 increases by $50. e there is no change in m1 or m2.
Answers
If you deposit a $50 bill that you put in a coat pocket last winter in your checking account, then "M1 increases by $50 and M2 remains unchanged." This is because M2 is greater than M1. Thus, the correct option is C.
What is M1 and M2?M1 is defined as the currency in circulation plus checkable deposits. It refers to the cash and coins that people have available for spending, as well as the money that is quickly accessible in bank accounts, such as checking accounts.M2 is defined as M1 plus savings deposits, small-denomination time deposits (less than $100,000), and retail money market mutual fund balances, among other things.
M2 is a broader classification of money than M1. It includes cash and coins, but it also includes deposits that aren't quickly available in bank accounts, such as savings deposits, time deposits, and retail money market mutual fund balances, among other things.
Therefore, if you deposit a $50 bill that you put in a coat pocket last winter in your checking account, then M1 increases by $50 and M2 remains unchanged.
Therefore, the correct option is C.
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bonds are issued in the primary market through a telecommunications network. group of answer choices true false
Answers
The statement "bonds are issued in the primary market through a telecommunications network" is false.
What is the primary market?A primary market is a financial market in which a corporation or government entity offers and issues new security for the first time, and the general public is given the opportunity to buy the offering. Because the issuer is the beneficiary of the sale proceeds, this market is critical in raising capital for companies and governments.
Investors can purchase securities directly from the issuer in the primary market. The securities can be offered in various ways, including public offerings, initial public offerings (IPOs), and private placements. The primary market can also be used to offer existing securities for resale in the event of an initial public offering (IPO).
What is telecommunications?
Telecommunications is the transmission of data over long distances through the use of electronic or optical signals. This kind of data transfer can be used for voice, video, and internet communication. Telecommunication technologies have advanced to include radio, television, the internet, and mobile phones. They may also include wired lines, wireless transmission, and satellite communication.
Answer: False. Bonds are not issued in the primary market through a telecommunications network.
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Which of the following is not a business-to-business (B2B) market.
A. Raw Materials
B. Process materials
C. Major equipment
D. Shopping Goods
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Answer:
I don't know the exact answer but I guess it will be option (B) process materials
how can a business meet customer needs
Answers
two document uesd in home trade
Answers
Documents used in Home Trade
Enquiry Letter Making an enquiry.
Reply Letter.
Order Letter Ordering goods.
Acknowledgement Letter.
Invoice Invoice.
Receipt of goods.
hope this helps!! <3
Devonte is balancing his checking account. His account statement does not include a deposit of $107.00 that he made on November 1st. What is Devonte’s actual account balance?
Answers
Answer:
✓ $1,330.26
Explanation:
Answer:
$1,330.26
Explanation:
Which of the following are characteristics of hard money? i. donations from individuals and interest group pacs ii. regulated by the federal election commission iii. goes directly to a political candidate iv. can be used for advertising or other campaign expenses a. i, ii, iii, and iv b. i and ii only c. i, iii, and iv only d. ii, iii, and iv only please select the best answer from the choices provided a b c d
Answers
The characteristics of hard money include donations from individuals and interest group PAC'S, and they are regulated by the Federal Election Commission.
What is hard money?Hard money and soft money are often used to describe the type of currency and also refer to political currency in the United States.
These two combined factors are the definition of what is considered "hard money" in politics.
Hard money is separated from soft cash, because the latter comes from a donation that can be controlled by the Federal Election Commission.
Thus, the correct answer is option B.
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megan, the marketing manager for boot hill wants to export the company’s line of fashion boots to an eu country. however, she discovers that there is a complete restriction on the import of any form of leather into that country. this is an example of
Answers
This scenario of Megan, the marketing manager is an example of a boycott.
The required details about the marketing manager are mentioned below.
Managers of marketing oversee advertising campaigns for companies and goods. Marketing managers work to increase awareness of your product or service and bring in new clients by creating appealing stories and running strategic campaigns.
It is advantageous to have a broad variety of marketing experience for this mid-level position. Marketing managers frequently organize and handle a wide range of tasks, including product launches, advertising, email campaigns, events, and social media. Additionally, you will develop marketing initiatives and campaigns, work cross-functionally, and produce marketing metrics reports.
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why do you suppose California and Texas have the highest concentrations of federal employees outside of the Washington DC region? use your knowledge of geography and the location of the states on this map to guide your decisions (select all that apply)
A. both states have large seaports handling petroleum and another imports each year .
B. both states are important producers of agricultural products for the nation.
C. both states maintain international borders.
D. California headquarters the U.S air force and Texas headquarters the army.
Answers
Answer:
I hope this helps
Explanation:
The answer is B
State the following statements are True or False. State the reason for your answer. Each question
carries 2 marks.
1. Labour intensive production means firms hire more people than any other factor of production. It is the
value (amount) spent that is measured.
Answer:.........
Reason:.....
2. Poor quality means that a firm's prices are higher than the industry average.
Answer:.....
Reason:........
3. Quality means that a product is high-class and one of the best in its industry, such as Rolls Royce cars or
Rolex watches.
Answer:.......
Reason:...
4. The location decision is irreversible.
Answer:.
Reason:..
Answers
Answer:
See below
Explanation:
1. True
Labor refers to human efforts in production. A labor-intensive production is when the manufacturing of a product or service relies heavily on labor than the other factors of production. Labor-intensive production is mostly applied in small-scale manufacturing or customized production.
2. False
Poor quality describes a product or a service that does not meet the expected standards. Poor quality is of low quality, one that is not properly made. Poor quality refers to a product or service that is of bad quality. A Poor quality product attracts low prices that are below the industry average.
3. True
Quality means a high degree of excellence. A quality product or service implies the product meets expected standards. Quality products offer excellent service to customers. Consumption of the product gives great satisfaction to the user.
4. False
The location decision can be reversed. A location is a place or area where a business will be set-up. The location decision involves identifying the most appropriate place to establish the business. The location decision is crucial as it can be the difference between success and failure.
Businesses have always re-located from one place to another. If the location chosen is not favorable, a decision can be made to re-locate. Reversing a location decision is expensive and time-consuming.
Levels of agriculture?
Answers
Answer:
Helloooo
the steps are :-
Soil preparationmanuringirrigationweedingharvestingstoringExplanation:
thanks hope it helps
Which payment option takes money out of your bank immediately?.
Answers
Answer:
auto pay takes money out automatically
cut-off for their coGs accounts? An inventocy count is performed each quarter listing for any oufdaled gear or slow-moving inventory. An if veniory count is performed each quarter. The controlfes perterns a depares a detaled shipping document for all imentory lems that leave the warehouse. The controlfer performs a detalted analysis of raw material inventory, work-in process and finished goods imventory to detect any unexpectod variance.
Answers
The cut-off for cost of goods sold (COGS) accounts is the scheduled time when the financial year ends. It means that the inventory at hand at that specific time must be recorded as the cost of goods sold.
The cut-off date for their COGs accounts should be scheduled in advance so that it can be considered by the relevant financial and accounting staff. The inventory count should be performed each quarter so that any slow-moving inventory or outdated gear can be listed. The controller, who is the person in charge of the inventory, should prepare detailed shipping documents for all inventory items that leave the warehouse.
A detailed analysis of raw material inventory, work-in-process inventory, and finished goods inventory should be performed by the controller to detect any unexpected variance. This is important in order to ensure that the inventory is accurately recorded and that there are no discrepancies that could lead to errors in the financial statements.
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Decision Point: Using the Association to Grow the Business Several months after starting the advertising campaign, you meet with the director again. She says, "Our consumers are finally associating our cookie with a good-tasting experience over time. We see this in increased sales as well." She continues, "We feel that we can use this newly forged association in the consumer's mind between the cookie brand name and good taste in other ways to help grow our business, but we're not sure how. I'd like you to come up with some ideas." Which of the following options is the best choice to use the brand and its association in the consumer's mind with good taste? Select an option from the choices below and click Submit. License the brand to another company to use on a potato chip. Develop a line extension using the brand on a chocolate chip cookie. License the brand to a company that wants to use it on their lower cost baked goods.
Answers
The best choice to utilize the brand and its association with good taste in the consumer's mind would be to develop a line extension using the brand on a chocolate chip cookie. Option B.
By developing a line extension, the company can leverage the positive association consumers have between the brand name and good taste to introduce a new product variant that aligns with their existing offerings. Chocolate chip cookies are a natural fit as they maintain the core essence of the original cookie while adding a popular flavor variation.
This allows the company to tap into the existing customer base who already associate the brand with good taste and provide them with a new product option to explore.
Introducing a line extension also provides an opportunity for the company to expand its market reach and capture new customers who may be attracted to the brand's reputation for quality and taste. By leveraging the positive brand association, the company can differentiate its chocolate chip cookies from competitors and establish a strong presence in the market.
On the other hand, licensing the brand to another company to use on a potato chip or licensing it to a company that wants to use it on their lower-cost baked goods may dilute the brand's association with good taste. Associating the brand with lower-cost or unrelated products could create confusion among consumers and weaken the brand's overall image.
Therefore, developing a line extension with a chocolate chip cookie aligns with the brand's existing identity, capitalizes on the positive association with good taste, and provides the company with the opportunity to expand its product portfolio while maintaining brand consistency and consumer loyalty. So Option B is correct.
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the importance of financial function
Answers
The finance function must support organizational-wide choices, necessitating a deeper, more precise understanding of operations, customers, markets, and the external business environment.
What sort of financial function would that be?Financial functions compute financial data like payments and net present value. The PMT function, for instance, can be used to determine the monthly payments necessary to purchase a car at a specific lending rate.
What are the three roles that finance plays?Three interconnected sectors make up finance: (1) money and credit markets, which deal with financial institutions and the securities markets; (2) investments, which concentrate on the choices made by both retail and institutional investors; and (3) financial management.
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How does shopping around for an automobile loan benefit you?
Answers
Answer:
Shopping around for an automobile loan benefits me from the interest that we are charged gets added to the amount we are borrowing.
which of the following debt collection practices would be legal under the fair debt collection practices act (fdcpa)? using physical force on a debtor to recover debt making repeated phone calls to a debtor with the intent to harass the debtor contacting a debtor in an unfair, abusive, or deceptive manner contacting third parties to locate a debtor
Answers
Answer:
Under the Fair Debt Collection Practices Act (FDCPA), contacting third parties to locate a debtor is generally legal, as long as the third party is not contacted more than once, and the debt collector does not reveal the reason for the call.
Explanation:
Using physical force on a debtor to recover debt and making repeated phone calls to a debtor with the intent to harass the debtor are prohibited by the FDCPA. Debt collectors are not allowed to use any physical force, threats, or intimidation to collect a debt. Additionally, they are not allowed to make repeated phone calls that are intended to harass, annoy, or abuse the debtor.
Finally, the FDCPA also prohibits debt collectors from contacting a debtor in an unfair, abusive, or deceptive manner. This includes using false or misleading information, using profane language, or misrepresenting the amount of the debt or the consequences of not paying it. Overall, the FDCPA sets clear guidelines for debt collection practices and protects consumers from harassment and abuse.
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