27000$ is Economic surplus of Samantha .
What does the term "economic surplus" mean?
Economic surplus, often known as "total welfare," is the collective advantage that results from the individual gains that a consumer or producer makes as a result of an economic activity.
The terms "total surplus" and "community surplus" may also be used to describe it.
Ivan and Samantha will be voluntarily involved in trade as they both are benefitting in their own ways and reasons. Ivan is getting more money than what he is expecting which is a producer surplus for him. Samantha is paying less that what she is willing to pay ,so there is consumer surplus. Hence both are benefitting from the transaction.
Producer surplus to Ivan = Amount received - willing to sell amount = 55000-45000 = 10000
Consumer surplus to Samantha = willing to pay - Actual amount paid = 72000 - 55000 = 17000
Economic surplus = Consumer + Producer surplus = 10000+17000 = 27000$
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the economizing problem is one of deciding how to make the best use of
The economizing problem is essentially one of deciding how to make thee best use of limited resources to satisfy unlimited human wants.
Which is the best option given the economic situation?
The difficulty in making decisions that results from resource scarcity is typically referred to as an economic dilemma.
People have limitless wants, but there are only so many ways to fulfill them. With limited resources, it is therefore challenging to provide all of human demands.
What is an illustration of the problem with economies?
The distribution of income between consumption and savings expenditures and the distribution of consumption expenditures among alternative available goods and services are a few instances of the economizing issues that will be covered in later chapters. The Problem with Saving The Need for Decision.
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Which is the first central bank in the world Mcq?
Answer:
In 1668, the Riksdag, Sweden's parliament, decided to found Riksens Ständers Bank (the Estates of the Realm Bank), which in 1867 received the name Sveriges Riksbank. The Riksbank is thus the world's oldest central bank.
Hope This Helps You if it Doesn't Sorry And Have a Nice Day. : )
the three most common forms of business organization are sole proprietorship, _____, and ____ ?
the industry that provides commodities that are basic to life is
The industry that provides commodities that are basic to life is Agriscience. Additionally, agriculture is a business that supplies the global economy with goods.
Option C is correct
What is agriculture's significance?
The technology sector receives a lot of attention when global supply chains are disrupted. For instance, a manufacturer's capacity to produce automobiles, computers, and other goods is restricted due to a lack of silicon chips, a non-agricultural raw material. Many areas of society and business are affected by this.
In a world with interconnected economies, agriculture also plays a crucial role in satisfying consumer and business market demand.
What exactly is agribusiness, exactly?The economic activities based on or connected to farm products are referred to as agribusiness. To put it another way, crop production, processing, transportation, and distribution
Incomplete question :
The industry that provides commodities that are basic to life is
a. aerospace.
b. biotechnology.
c. agriscience
d. transportation
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What is the difference between an unsecured and a secured business loan?.
The distinction between a secured loan and an unsecured loan is that in a secured loan, the borrower pledges assets as security; as a result, the cost may be lower than in an unsecured loan.
A secured loan is one where the borrower pledges some form of collateral, such as an asset. In the event that the borrower violates any conditions of the agreement, it is secured by the assets.
On the other hand, an unsecured loan is one that is not backed by any assets. As there is no security to cover or reduce the loss in the event of a term default, the risks associated with this type of loan are higher.
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What are the 4 types of interaction?.
The four primary types of interaction are competition and predation, parasitism, mutualism, and commensalism.
Competition and Predation:
Predation is the term for when an animal chases another one to meet its nutritional needs. An organism that hunts its prey is a predator.
Commensalism:
One entity benefits while the other neither suffers nor gains from the imbalanced sort of contact. There are four different kinds of commensal relationships.
Parasitism:
One entity gains from other entities and suffers harm, but not always death. The host is the entity that suffers, whereas the parasite benefits. This form of behavior is known as parasitoidism when the host is dead.
Mutualism:
The relationship benefits both species involved. Three patterns can be seen in these interactions:
Under favorable conditions, species can exist on their own.Obligate mutualism: One species depends on the other to survive Diffusive mutualism: One entity can coexist with a variety of partnersFor such more question on interactions:
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Write a muical expreion with at leat three operation that ha the ame value a (12-9) x 43 jutify your anwer
The required numerical expression with at least three operations that yield the same value as (12-9) x 43 is (23 - 20) x (40 + 3).
First, determine the solution for the given expression:
= (12-9) x 43
= 3 x 43
= 129
The given expression gives result 129.
Now write a numerical expression that provides the same value as the expression (12-9) x 43 produces.
For instance,
= (23 - 20) x (40 + 3)
Now solve it to check to see if it gives 129.
= (23 - 20) x (40 + 3)
= 3 x 43
= 129
Therefore, (23 -20) x (40 + 3) is the required numerical expression.
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What are factors of production resources used to provide goods and services?.
Answer:
Capital
Labour
Land
Entrepreneurship
1. Which of the following is not true of a debenture?
a. Debenture holders get a fixed rate of return b. All businesses can have debenture holders
c. They must be repaid on an agreed date
d. Debenture holders are creditors of the company
Answer:
B.
Explanation:
A debenture can only be taken on a limited company or limited liability partnership; it can't to be taken over a sole trader or standard partnership. A director who has advanced or lent money into their own company could take a debenture to secure the loan. A private lender can also take a debenture.
How does unemployment affect the overall growth of an economy?.
Unemployment affects the overall growth of an economy as (i) it is a wastage of manpower resource. (ii) it increases the economic overload. (iii) it tends to increase the number of dependent population.
According to the OECD (Organization for Economic Co-operation and Development), unemployment is defined as people over a certain age who are currently unemployed or self-employed but are still eligible to work during the period of participation.
The number of unemployed people compared to the labor force is used to calculate the unemployment rate, which is used to calculate the unemployment rate. For example, a country can influence the unemployment rate and the state of the economy through its fiscal policies. In addition, the central bank of a country or other monetary authority can influence the cost and availability of money by applying monetary policy.
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Which of the following jobs would only require on-the-job training?
The following jobs would only require on-the-job training
A. computer programmer:
Computer programmer job description featuring job openings, training courses, desirable skills and certifications, and education requirements.
B. fashion designer :
For instance, you can consider a bachelor's degree with a major in visual art, fashion design, or fashion merchandising. A visual art program can help you master color theory and design elements, while a fashion design degree teaches you how to work with fabrics and develop clothing and accessory prototypes.
C. customer service agent:
customer service agent. Although arguably, no human profession, skill, or job, is a simple matter of execution, some are fitter to be learned while being executed. One of these is customer service.
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Members of Generation Z are most likely to influence? a. furniture design b. health care and insurance.c. retirement plans. d. e-textbooks
The correct answer is option d. Members of generation Z are most likely to be influenced by e-textbooks.
A portion of the population that is known as Generation Z was born between 1996 and 2010. They are most likely to be influenced by internet platform. This members of this generation spends a huge amount of time on the internet and especially on social media. They are readily swayed by it.
Gen Z, as they are generally known as, grew up with technology, the internet, and social media. It labelled them to be stereotyped as tech-addicted, anti-social, or “social justice warriors". This generation is the one that follows Millennials and comes before Generation Alpha. They are also known as zoomers.
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why is self-representation important in the corporate world?
The correct answer is A. It determines the kind of interaction you have with your coworkers.
What is self-representation?Self-representation is the word used to describe people's conceptions, ideas, and beliefs about themselves and how these ideas, beliefs, and conceptions affect the way they present themselves to others.Additionally, one's self-perception affects attitudes, behaviors, and interactions with others. For instance, if you think of yourself as superior to others, you probably have arrogance, which will negatively affect your dealings with others. This is especially important in the business environment because it may have an impact on relationships with colleagues. This states that self-representation is crucial because "it controls the interactions you have with your coworkers." A is the right response. Your interactions with coworkers are influenced by it.The complete question is,
Why is self-representation important in the corporate world?
a. It determines the kind of interaction you have with your coworkers.
b. It determines the percentage of salary increases during appraisals.
c. It shows that you are an honest person with strong work ethics.
d. It shows your self-management abilities.
e. It helps you avoid conflicts
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Izzy Corporation reported the following in its 2016 financial statements (in millions): (in millions) Total assets Revenues Research and development expense Net income December 31, Year 2 $96,328 $50,479 $12,740 $8,769 December 31, Year 1 $86,240 $47,052 $12,128 $9,707 What is the common-size amount for Izzy Corporation's research and development expense for Year 2
25.2% is the common size amount for Izzy Corporation's research and development expense for Year 2.
Financial managers use common size analysis, also known as vertical analysis, as a tool to examine financial statements. Each line item is expressed as a percentage of the base amount for that period to evaluate financial statements.
When common size analysis is being performed, the base for all expense items would be sales.
Research and development is an expense, so for a common size analysis of this account, the base would be sales.
For year 2:
Sales =$50,479
Research and development expense = $12,740
common size amount= Research and development/ Sales × 100
( 12,740/50,479) × 100 = 25.2%
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Does maine require lottery winners to be identified?
Maine require lottery winners to be identified and anonymous are not acceptable. There are only 11 states where you are allowed to remain anonymous following a big lotto, and from 11 states, Maine are excluded.
In economics, A lottery generally can be defined as a form of gambling that involves the drawing of numbers at random for a prize. There are several rules about lottery in several countries. Some of governments in county are accept the lottery activities, in the other hand, there are also some governments that not allow any activities of lottery. There are 11 countries that accept lottery as anonymous, such as Kansas, Maryland, New Jersey, North Dakota, Arizona, Delaware, Georgia, Ohio, South Carolina, Virginia, and Texas.
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What happens when you overdraft?.
Answer:
If your balance goes into overdraft, the funds are transferred automatically to your checking account to cover the difference. In other cases, the bank won't return the transaction and process it, which means you'll be charged fees until you deposit money to cover the difference.
A firm can begin to implement the marketing mix immediately after which of the following steps?
A firm can begin to implement the marketing mix immediately after the firm has implemented segmentation, targeting, and positioning their products.
The marketing mix is the set of actions, or tactics, that a firm use to market its brand or product.
The STP model is important when developing marketing communications plans because it assists marketers in prioritizing propositions and then developing and delivering individualized and relevant messages to engage with various audiences. Market segmentation, market targeting, and product positioning are the three steps in the funnel.
You want to identify a basis for segmenting your target clients and determine significant criteria to separate each market segment during your research-based market segmentation phase.
Your question is incomplete, most likely it was:
A firm can begin to implement the marketing mix immediately after which of the following steps?
manufacturing
segmentation
targeting
positioning
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Why is it important to read a fund fact sheet before investing in a bond fund?
The fund's performance over the past ten years will be presented in the fact sheet. Because it provides a sense of the fund's past and current trajectory, this is essential information to have before purchasing a fund.
What is the objective of the fact sheet for the fund?An overview of a fund, including information on the fund's investment objective, risk level, costs, past performance, and holdings, is known as a fund factsheet. One of the most convenient and timely resources for investors to learn about a fund is the factsheet, which is typically published monthly and available online for free.
How do you present fund information?A Fund Facts document provides a summary of important information about the fund you've purchased, such as its risk rating, investments, and performance history.
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In what ways does scarcity affect both consumers and producers?.
Scarcity affects producers because they have to make a choice on how to best use their limited resources. It affects consumers because they have to make a choice on what services or goods to choose.
What is scarcityIn simple terms, the notion of scarcity can be interpreted as limited resources, resulting in human needs being not fulfilled. When we need something, we cannot find what we need, this is also known as scarcity. Broadly speaking, economic scarcity can be interpreted as, one of the most basic economic problems we face every day, it is widely used in business to denote the gap between supply and demand.
During this pandemic, there were many shortages in many sectors. This is due to the spread of the corona covid-19 virus happening very quickly throughout this earth. People are advised to keep their distance, not to crowds, to wear masks, to wash their hands after handling something with soap and running water.
In order to break the chain of the spread of the virus, governments around the world have issued regulations so that people work from home. However, in practice, not all activities that can support economic activity can be carried out from home. So many industrial sectors experience congestion or are out of business. The many industries that closed caused scarcity in various fields of resources.
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Which of the following taxes will be levied on imports?
A. CGST
B. SGST
C. IGST
D. CGST and SGST
IGST is the tax that will be levied on imports of goods and services. Option C is the correct answer.
The majority of products and services sold for domestic use are subject to the goods and services tax (GST), a value-added tax (VAT). Consumers pay the GST, but businesses that sell the products and services are responsible for remitting it to the government.
Both the CGST and SGST will be collected when a state's borders are crossed to provide goods or services, a practice is known as intra-state transactions. In contrast, only IGST will be collected if a supply of goods or services occurs in what is known as inter-state transactions.
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Where do banks get the majority of the money they lend?.
Answer:
Banks collect savings from households and businesses (savers) and use these funds to make loans to those who want to borrow (borrowers).
Banks assemble savings from individuals and companies (savers) and utilize these resources to provide loans to borrowers.
Financial institutions known as banks offer a variety of services pertaining to lending, managing finances, and conducting financial transactions. By enabling the movement of money and providing a range of financial goods and services, they contribute significantly to the economy resources . Banks perform the following important tasks and offer the following services:
Deposits: Banks welcome contributions from private citizens, companies, and other nonprofits. These deposits might be in the form of savings accounts, checking accounts, certificates of deposit (CDs), and other kinds of accounts. Government-backed schemes that guarantee deposits often exist to safeguard the money of clients.
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A new restaurant offers a 14% discount off a customer’s total bill to the first 500 customers to eat at the restaurant. if the first customer’s total bill is $38.50, how much does the customer owe after the restaurant applies the discount, in dollars and cents?
The first customer owes $33.11 after the restaurant applies the 14% discount.
To calculate the amount the customer owes after the discount, we need to first calculate the amount of the discount. We can do this by multiplying the original total bill by the discount rate, which is 14%.
$38.50 x 14/100 = $5.39
This means the discount for the customer is $5.39
Next, we subtract the discount from the original total bill to find the new total.
$38.50 - $5.39 = $33.11
So the customer owes $33.11 after the restaurant applies the 14% discount.
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A free enterprise system provides individuals the opportunity to make their own economic decisions, without restrictions from the government. it allows the supply and demand of consumers to determine the success or failure of an economic endeavor. as a result, some business owners have become successful, while others have not. in an essay, you will choose an entrepreneur and argue whether the free enterprise system was necessary for that individual to make an impact on the business world. Please write an essay. Not a short paragraph.
The entrepreneur I have chosen to focus on in this essay is Steve Jobs, co-founder of Apple Inc. Steve Jobs is widely recognized as a pioneer in the technology industry and is credited with revolutionizing the way we interact with technology through the development of products such as the Macintosh computer, the iPod, and the iPhone.
The free enterprise system, also known as capitalism, allows individuals the freedom to pursue their own economic goals without interference from the government. In the case of Steve Jobs, this system played a crucial role in his ability to make an impact on the business world.
Without the free enterprise system, Steve Jobs would not have been able to start Apple Inc. and bring his innovative ideas to the market. The ability to start a business and compete in the marketplace is a fundamental aspect of capitalism. Steve Jobs' drive and determination to succeed, combined with the freedom to start a business, allowed him to create and market products that changed the world.
Furthermore, the free enterprise system also allows for the success or failure of a business to be determined by consumer demand. This is known as the "invisible hand" of the marketplace. Steve Jobs' ability to consistently create products that consumers wanted and were willing to pay for was a major factor in his success as an entrepreneur. The market demand for Apple's products, such as the iPod, iPhone, and iPad, helped the company become one of the most valuable in the world.
In conclusion, Steve Jobs' impact on the business world can be attributed, in part, to the free enterprise system. The freedom to start a business and the ability for consumer demand to determine success allowed Steve Jobs to bring his innovative ideas to the market and change the way we interact with technology. Without the free enterprise system, it is unlikely that Steve Jobs would have been able to achieve the level of success that he did as an entrepreneur.
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What is the best economy in the world?.
The best economy in the world is the United States of America (USA) with a GDP of 23.32 trillion dollars.
There are two main sources that are attributed to economic growth: 1- growth in the size of the workforce and 2 - growth in the productivity, i.e. output per hour worked, of that workforce. Either of these two sources can increase the overall size of the economy. But only strong productivity growth can result in an increase in per capita GDP and income.
In the context of the world's best economy, the USA is this. With a GDP of 23.32 trillion dollars, the US is by far the world's largest and the best economy in this ranking for 2021. USA's economy is followed by China in the second number with a GDP of 17.73 trillion dollars.
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How many nickels make 30 cents?.
A nickel coin is equal to 5 cents. To make 30 cents, we need 6 nickels.
The nickel is the five-cent coin of the United States. Thomas Jefferson, our third president, is depicted on the obverse (heads) of the nickel. Although the current portrait is from 2006, he has been on the cent since 1938.
The United States Mint added a new portrait of Jefferson to the front of the nickel in 2005 to give the currency a more modern appearance. Joe Fitzgerald created the image. The Mint had designed two possible reverse sides of the coin, each with a distinct motif based on "a Westward Journey." One design portrayed the American bison, while the other depicted the Pacific Ocean, the expedition's ultimate aim.
A nickel = 5 cents.
It means that:
2 nickels = 2 x 5 cents = 10 cents
3 nickels = 3 x 5 cents = 15 cents
Therefore, to get 30 cents, we need: 30/5 = 6 nickels.
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what group of individuals establishes the policies that govern fbla-pbl?
Board of directors group of individuals establishes the policies that govern fbla-pbl.
The highest governing body of a corporation or publicly listed company's management structure is the board of directors. The board's responsibilities include choosing, assessing, and approving the chief executive officer's (CEO) compensation, determining whether to pay dividends, recommending stock splits, supervising share repurchases, approving the company's financial statements, and recommending or rejecting merger and acquisition opportunities, among other things.
Individual men and women who are elected by the company's shareholders for tenure lasting several years make up boards. As a result of the rotational systems used by many businesses, only a small portion of the directors are up for election each year.
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why do businesses want customers to demonstrate brand insistence for them?
Businesses want customers to demonstrate brand insistence for them as customers will avoid competing brands due to their loyal to the brand and will only purchase the desired brand.
A brand is a product, service, or concept that's also openly distinguished from other brands, services, or concepts in order to facilitate communication and marketing. Branding is the method of creating and promoting the brand name, as well as its characteristics and personality. Branding can refer to both the overall corporate identity and specific products, services, or concepts. David Ogilvy, the founder of the advertising agency Ogilvy & Mather, defined a brand as "the intangible total amount of a company's attributes: its name, wrapping, and price, its history, prestige, and the way it's publicised."
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the philosophy of utilitarianism is used to explain why restaurants, theaters, and hotels should make themselves handicapped accessible.
Utilitarianism will produce both winners and losers. Utilitarianism is a philosophical school that argues that disability accessibility in places like restaurants, theatres, and hotels is essential.
What exactly is utilitarianism?Morality is determined by emphasising outcomes, according to utilitarian ethical theory. This type of consequentialism exists in this context.
A decision should be made if it will result in the greatest amount of benefit for the greatest number of people, according to utilitarianism. This is the only moral foundation that can support the use of force or war.
It is also the most commonly used method of moral reasoning in business because it considers both costs and benefits.
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is tipping getting out of control? many consumers say yes
Yes according to many consumer the tipping is getting out of control
Across the country, there is a silent frustration brewing about an old practice that many say is getting out of hand which is tipping. As more businesses adopt digital payment methods, customers are automatically being prompted to leave a gratuity and many times as high as 30% and some say it has become more frustrating as the price of items has increased due to inflation. Dylan Schenker is 38 years old who earns about $400 a month in tips, which provides a helpful supplement to his $15 hourly wage. Most of those tips come from consumers who order coffee drinks or interact with for other things, such as carryout orders. The gratuity helps cover his monthly rent and eases some of his burdens while he attends graduate school and juggles his job.
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Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $1,500 of direct materials and used $3,000 of direct labor. The job was not finished by the end of September, but needed an additional $2,000 of direct materials and additional direct labor of $4,500 to finish the job in October. The company applies overhead at the end of each month at a rate of 200% of the direct labor cost incurred. What is the balance in the Work in Process account at the end of September relative to Job A3B
The balance in the Work in Progress account at the end of September relative to job A3B is $10500.
During September month material amounting to $1500 and direct labor amounting to $3000 was introduced in the process and Overheads at the end of each month is 200% of direct labor.
Cost incurred = 200% of $3000
= $6000.
As specified by the question that the job is not finished at month end and additional material and labor amounting to $2000 and $4500 respectively is required in October month . So the whole cost incurred in September month that is $1500+$3000+$6000=$10500.
$10500 is transferred to Work in progress account . When Job gets finished that is in month of October the whole cost amounting to 10500+2000+4500+(4500*200%) =$ 26000 transferred to Finished Goods Account.
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