which of the following statements about the a-b-c approach is/are true? multiple select question. c items are the most closely managed, while a items are least important. approximately 10% to 20% of items account for about 60% to 70% of annual dollar value. it is intended to help firms allocate control efforts based on the relative importance of items in inventory. its purpose is to identify inventory items that are the most important to the business.
The statements that are true about the A-B-C approach are: option B), C) and D).
The ABC method of inventory control uses a system that manages inventory and is applied to materials and distribution operations. Selective inventory control, or SIC, is another name for it. Inventory is split into three categories, A, B, and C, in descending value as part of the ABC analysis approach.
The highest valued items are those in category A, followed by items in category B and category C, which are both less valuable than category A. A business needs effective inventory management and control. They aid in containing their expenses. The ABC analysis aids in inventory control by allowing management to concentrate on the highest value items (the A-items) rather than the numerous low-value items (the C-items).
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for each of the following situations, (1) indicate whether you agree or disagree with the financial reporting practice employed and (2) state the accounting concept that is applied (if you agree), or violated (if you disagree). winderl corporation did not disclose that it was the defendant in a material lawsuit because the trial was still in progress. alliant semiconductor corporation files quarterly and annual financial statements with the sec. reliant pharmaceutical paid rent on its office building for the next two years and charged the entire expenditure to rent expense. rockville engineering records revenue only after products have been shipped, even though customers pay rockville 50% of the sales price in advance.
for each of the following situations the correct answer is given question is Disagree Expense recognition.
Expense Recognition: What Is It?The process of transforming an asset into an expense is known as expense recognition. When an asset's utility has been used up, this is done. When purchases are made for assets that are not immediately utilised, expense recognition may occur on a delayed basis.
A company spends $100,000 on goods that it then sells for $150,000 the following month. The $100,000 cost should not be recognised as an expense under the expense recognition principle until the subsequent month, when the associated revenue is likewise realised.
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Which of the following predictions about the impact of e-commerce on traditional businesses is the most accurate? Multiple Choice O E-commerce will have little impact on most traditional businesses, because only a few types of products can be sold effectively online O Traditional brick-and-mortar firms will enter the e-commerce market by creating the own websites O E-commerce will prove to be very successful in competing against traditional firms in B2C markets, but will have much less success in B2B markets.
Traditional brick-and-mortar firms will enter the e-commerce market by creating the own websites.
What effect does modern-day e-commerce have?Markets on a national and international scale are opened up by electronic commerce. It lowers the price of producing, processing, disseminating, and retrieving paper-based information. Due to the fact that it lowers transaction costs, e-commerce is extremely important. An empowered consumer is the result of lower transaction costs.
What effect does modern-day e-commerce have?This article outlines the three components of ecommerce: digital marketing, back-end integration, and consumer experience. With these three factors working together, you can be confident that your online store will attract and retain potential clients.
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Wages for a business should be about 32 percent of gross revenue. Does the Y Sample T-Shirt Company, INC make enough revenue to hire another employee?
Yes, Sample T-Shirt Company, INC currently only spends 21% of its budget on staff salaries at the moment. They therefore have room to increase this to 32%.
What does gross revenue mean?Gross revenue, commonly referred to as gross income, is the whole amount of money made by a business, excluding any amounts that have been or will be utilized for expenses.Gross income is the total of all incomes, salaries, profits, interest payments, rents, and other kinds of income for families and people before any deductions or taxes. It differs from net income, which is calculated as gross income less any applicable taxes and other deductions.Gross revenue is the sum of money a company makes from sales in a specific time frame. Net revenue is the difference between a company's sales for a specific time period and its expenses for that same time period.Learn more about gross revenue refer to :
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Which of the following concepts are part of organizational culture? Select all that apply.1 / 1 point A company’s structure and division of responsibilities A company’s history and mission A company’s quarterly earnings and stock price A company’s shared values Correct
A company's structure and division of responsibilities, a company's history and mission, and a company's shared values are all part of organizational culture.
What is organizational culture?
Organizational culture is the set of shared beliefs, values, and norms that an organization has adopted to guide its operations, define its identity, and shape its members' behavior. It is the way of working, the attitudes and beliefs of the employees, and the way everyone interacts with each other and with the public. Organizational culture is usually formed over time as members of the organization interact with each other and develop common ways of thinking and acting. It affects the way employees think, feel, and act, and it plays a key role in how teams, departments, and the entire organization functions. It shapes the way employees perceive and respond to change, how they manage conflicts, how they communicate and how they collaborate.
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The proliferation of new media alternatives has led many firms to shift their promotional budgets from
a. stealth marketing to viral marketing.
b. personal selling to advertising.
c. advertising to direct marketing and website development.
d. publicity to public relations.
e. integrated marketing communications to diverse marketing communications
Many businesses have switched their promotional budgets from advertising to direct marketing and website development as a result of the abundance of new media possibilities. Therefore option C is the correct answer.
A firm is a for-profit business entity that offers professional services, such as a corporation, limited liability company (LLC), or partnership. Most businesses only have one location. On the other hand, a business firm is made up of one or more physical locations that are all owned by the same person and share the same EIN.
The term "firm," when used in a title, is frequently connected to companies that offer expert legal and accounting services, but it can also refer to a wide range of companies, including consulting, marketing, and graphic design firms, among others.
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Which of the following media headlines anticipate a recession and which anticipate an expansion?
a. U.S. jobless claims increase. - recession
b. Wall Street forecasts rising production. - expansion
c. Housing starts to rise. - expansion
d. Firms recall workers. - expansion
e. Automakers worried as car sales plummet. - recession
Is this correct? Let me know
Answer:
Answers Question 4) a) U. S Just claims increase- a recession b) Wall Street forecasts rising production- an expansion Explanation:- a) a recession can be defined as a period of economic contraction in the economy full stop during this stage compani
all of the following are advantages of level loading except which? multiple choice question. provides certainty to the system makes production scheduling easier ensures uniform customer demand requires uniform amounts of inputs from suppliers making ordering simple
Which of the following advantages of level loading is not one? ensures consistent customer demand. The following advantages of level loading include: - Makes production scheduling easier.
What does the word "consistent" mean?
always operating or occurring in the same way, particularly favourably: Her disposition has been steadily improving. Even while she occasionally does quality work, her inconsistent output is a problem. Opposite. Consistency is a critical element that is necessary for success. Committing to your goals and keeping your focus on the things and actions required to achieve them are both characteristics of consistency. Consistency requires a long-term commitment from you because it entails making continuous attempts to carry out actions repeatedly until you achieve your goals.
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1. quest manufacturing incurs the following costs per unit: labor $100/unit, materials $50/unit, and rent $100,000/month. if the quest produces 500,000 units a month, calculate the following:
Total variable costs - $90,000,000
Total fixed costs - $100,000/month.
Total costs - $90,100,000
a. Total variable costs can be calculated by adding together the costs of labor and materials per unit. In this case, the total variable costs are:
$100/unit (labor) + $50/unit (materials) = $150/unit
If the Quest produces 600,000 units per month, the total variable costs for that month would be:
$150/unit * 600,000 units = $90,000,000
b. Total fixed costs are costs that do not change with the level of production. In this case, rent is the only fixed cost given, which is $100,000/month.
c. To find the total costs, you need to add the total variable costs and total fixed costs. So in this case, the total costs would be:
$90,000,000 (total variable costs) + $100,000 (total fixed costs) = $90,100,000
It's important to note that this is a snapshot of the costs for one month, and the costs might change over time depending on the production level, changes in the costs of labor, materials and rent.
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Complete Question -
Quest manufacturing incurs the following costs per unit: labor $100/unit, materials $50/unit, and rent $100,000/month. If the Quest produces 600,000 units a month, calculate the following:
a. Total variable costs
b. Total fixed costs
c. Total costs
T /F The International Monetary Fund (IMF) makes short-term loans to developing countries experiencing balance-of-payment deficits.
The International Monetary Fund (IMF) makes short-term loans to developing countries experiencing balance-of-payment deficits---- False.
Short- and medium-term loans are offered by the IMF to countries that are having trouble meeting their international payment obligations and their balance of payments. Quota contributions from IMF members make up most of the money for loans.
What is the IMF and how does it assist developing nations?The 190 nations that make up the International Monetary Fund (IMF) strive for long-term prosperity and growth. It accomplishes this by providing financial support to economic policies that foster monetary cooperation and financial stability, which are essential for increasing productivity, job creation, and economic well-being.
What role does the IMF play in the balance of payments?A standby arrangement, which makes short-term assistance available to nations experiencing temporary or cyclical balance-of-payments deficits, is one of the IMF's financing programs or facilities for providing these loans; a facility with an extended fund that supports relief in the medium term; an additional
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public goods are underproduced in a competitive market because the free-rider problem causes which of the following?
reduced market demand public goods are underproduced in a competitive market because the free-rider problem causes.
In a market where there is competition, why are public goods underproduced?Because the extra value that the items provide for others is not reflected in the price that the producers of the goods receive, goods with positive externalities are underproduced.
Why is there a lack of public goods?Because individual actors are driven to free-ride, conventional economic theory claims that public goods are typically underprovided. They can be content to wait for others to step up and supply the good, believing that once it is available, they will also benefit from it—for free
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Whether a consumer's need is utilitarian or hedonic, the ________ it creates determines the urgency the consumer feels to reduce it.A) magnitude of the tensionB) direction of the tensionC) expectancyD) reinforcement
Whether a consumer's need is utilitarian or hedonic, the magnitude of the tension it creates determines the urgency the consumer feels to reduce it.
Utilitarian requirements are connected with rationality, cognitive ability, and task orientation. Utilitarian demands are made up of a product's functionality and ability. Emotional desire is another term for hedonic requirements. Hedonic wants include emotions and feelings such as delight, arousal, interest, and pleasure. This mood may result in the linkage of a product or brand with a symbolic meaning or visual. This leads to a consideration of product symbolism via the consequences of hedonic requirements (symbolic meaning or visual association). Product symbolism implies that consumers buy items not just for their function (utilitarian), but also for what they represent to them. Furthermore, the product logo drives the motivating force behind acquiring things for their significance.
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Which of the following are places companies have achieved reduction in the time required to complete activities? 1) Processing time 2) Promotion time ... Quality-based strategies focus on reducing the time needed to conduct the various activities in a process.
The correct answer is that processing time and lead time are two places where companies can reduce the time required to complete activities through quality-based strategies.
Companies can achieve a reduction in the time required to complete activities in several areas, including:
Processing time: by streamlining processes and reducing waste.
Lead time: by reducing the time it takes to complete a task, from start to finish.
Cycle time: by reducing the time between completing one task and the start of the next one.
Waiting time: by reducing the time workers or products spend waiting for resources or other tasks to be completed.
Inspection time: reducing the time required for quality control checks and inspections.
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which of the following would be a ramification of a license holder failing to inform the buyer, in writing and before closing, that they should have an attorney review the abstract or obtain a title insurance policy? automatic revocation of license with the potential of criminal charges loss of the right to receive payment or recover commission nothing since these matters are between the buyer and the title company a reduction by half in commission owed submit answer
If the licensee does not inform the buyer in writing and before the contract is entered into that they should have an attorney review the abstract or obtain title insurance, the most likely consequence is that the commission owed is halved.
This is because failure to provide this information is a breach of real estate laws and the licensee could be held liable for any damages or losses caused by the omission. In some cases, the licensee could face disciplinary action by the state licensing board, which could include suspension or even revocation of the license. In extreme cases, the license holder could also face criminal prosecution for failure to provide the required information.
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During a festival sale, the cost of an object is ₹ 870 on which 20% is off. The same object is available at other shops for ₹ 975 with a discount of 623%. Which is a better deal and by how much?
Accordingly, the first store's offer is 214.65 rupees better.
How to find the calculation?To calculate the present value of a future payment or stream of payments, a procedure known as discounting is used.
In the first store, finding the discount's value
Discount is 870*20/100.
Discount = 174 rupees
Price to sell: 870 minus 174
Selling cost = 696 rupees
In the second store, finding the discount's value
Reduction = 6 2/3%
Reduction = 20/3%
Savings = 6.6%
Discount is 975*6.6/100.
Discount = 64.35 rupees
Price to sell: 975 minus 64.35
Selling price = 910.65 Rupees
The pricing difference between the two stores is 910.65 minus 696.
Difference: 214.65 rupees
Therefore, the first shop's offer is superior by Rs. 214.65.
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for a restaurant, all the following are examples of variable costs, except labor costs cost of raw materials rents on dining space none- all of them are variable costs
Variable costs include groceries, hourly wages, and utilities. These costs are harder to predict when opening a restaurant because they vary from production to production.
What are examples of variable costs other than labor costs? Labor, raw material rentals?
Variable costs are costs that change as the size changes. Examples of variable costs are raw materials, piecework, production materials, commissions, shipping costs, packaging materials, and credit card fees. In some accounting reports, variable costs of production are referred to as "Cost of Goods Sold." Health, disability, or life insurance premiums. Property taxes. Child care costs. Student loan or car loan repayment. Employee salaries are considered a fixed cost, while sales commissions are variable. Although fixed costs change over time, this change is unrelated to production. The first cost, fuel cost, is a variable cost.
The total cost at the end of the year varies based on activity level and flight hours over the same period.
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Which of the following would be considered a source document in an accounting system? (Check all that apply.)
The following would be considered source documents in an accounting system credit memos, deposit slips, expense reports, invoices, and material requisition forms.
What is a document?A document is a written, drawn, presented, or documented expression of ideas, which is frequently the manifestation of both non-fictional and fictitious content. The term comes from the Latin Documentum, which means “teaching” or “lesson”: the verb done means "to teach.”
As by the accounting system, The source document is the piece of paper that provides both evidence that a transaction has occurred and the details of the transaction itself.
Therefore, By the source document in an accounting system, expense reports, and invoices are there in it.
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Question 9 (1 point)
Which of the following statements about the power of the human voice is correct?
a) The voice sends only verbal messages to receivers.
b) Individuals can learn to change their voice to make it more effective and powerful
c) No correlation exists between the voice and perceived authority and trust.
d) Flat monotone voices are considered to be polished and professional
Answer:
B.
The other ones don't sound the most accurate compared to B.
Explanation:
which of the following could cause an increase in the supply of peanut butter? instructions: in order to receive full credit, you must make a selection for each option. for correct answer(s), click the option once to place a check mark. for incorrect answer(s), click the option twice to empty the box. check all that apply 1 an increase in the number of firms in the market a decrease in the expected future price of peanut butter an improvement in technology an increase in the price of jelly a decrease in the price of peanut butter which of the following could cause a decrease in the supply of jelly? instructions: in order to receive full credit, you must make a selection for each option. for correct answer(s), click the option once to place a check mark. for incorrect answer(s), click the option twice to empty the box. check all that apply 2 an increase in the price of peanut butterunanswered an increase in the price of jellyunanswered a decrease in the expected future price of jellyunanswered a decrease in income, if jelly is an inferior goodunanswered an increase in the price of sugar, an input to jelly production
Jelly demand will move to the left of the supply curve (decrease). You would purchase less peanut butter if the price rose.
Manufacturers of peanut butter won't be able to produce as much at different price points as they once could as a result. Since the supply curve will shift to the left as a result, the equilibrium price and quantity will increase. Demand for jelly will also be affected. Remember that peanut butter and jelly pair well. We consume less jelly because we consume less peanut butter, even if jelly is still the same price. The popularity of Jelly is ebbing (jelly demand curve shifts inward). As consumer income rises, demand for a product increases, especially when the products are commonplace. The demand for "normal" goods increases along with consumer income.
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Describe the dynamic through which a tight labor market might give rise to a wage-price spiral. Tight labor market's force workers to ask for the raises to protect themselves from inflation which then causes a drop in production which then kicks off the wage price spiral noted above.v
The wage-price spiral postulates that higher wages increase disposable income, which increases demand for commodities and pushes up prices.
An economic concept known as the wage-price spiral describes the phenomena of price rises brought on by rising salaries. When wages are increased, more goods and services are demanded, which increases demand and, consequently, prices. As a result of the salary increase, general business expenses go up, which is ultimately passed on to the consumer as higher pricing. Essentially, it is a never-ending cycle of steadily rising prices.Since the wage-price spiral illustrates the causes and effects of inflation, Keynesian economic theory is known for it. The cost-push origin of inflation is another name for it. Demand-pull inflation is another reason for inflation, and according to monetary theorists, it is a result of the money supply.
POINTS TO NOTE
1. In a never-ending loop known as the wage-price spiral, rising prices lead to increased wages and vice versa.
2. To stop the wage-price spiral, central banks deploy open market operations, reserve requirements, interest rates, and monetary policy.
3. A type of monetary policy called inflation targeting seeks to reach and maintain a predetermined interest rate over time.
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Compared to NAFTA, the USMCA requires that a greater percentage of a car and its components be produced in North America, and by workers who get better wages. True or false
True that Compared to NAFTA, the USMCA requires that a greater percentage of a car and its components be produced in North America, and by workers who get better wages.
What are the main differences between the USMCA and NAFTA?The sunset clause, which stipulates that the agreement will expire 16 years after it was adopted, is one of the main distinctions between NAFTA and USMCA (2036). In order to make sure no flaws are missed, the trade agreement must also be reviewed and updated every six years. The USMCA also stipulates that a vehicle manufacturer must source at least 70% of its purchases of steel and aluminum from North America. Last but not least, the USMCA added a new labor value content (LVC) provision that mandates that a particular proportion of eligible automobiles be produced by workers making an average of $16 per hour or more.United States of Mexico On November 30, 2018, the United States, Mexico, and Canada signed the Canada Agreement, which supports businesses, farmers, ranchers, and some high-paying jobs.
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When the Federal Reserve wants to increase the supply of bank deposits in the system and hence the money supply, they _______ the level of required reserves.
When the Federal Reserve wants to increase the supply of bank deposits in the system and hence the money supply, they decrease the level of required reserves.
To raise or lower the amount of money in the economy, central banks employ a number of strategies collectively referred to as monetary policy. By reducing the reserve requirements for banks, the Fed can increase the money supply by enabling banks to make more loans.A portion of all deposits are held in reserves, which are the funds that banks keep in safes. Banks must maintain a minimum percentage of all deposits and are subject to strict regulations in the majority of nations just in case someone needs to withdraw some money. The required reserve is this minimum percentage.To learn more about federal reserves here
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You are an entrepreneur in the process of purchasing a small business. You want your investment to be safe, so you need to select a business that can be classified as a small business so as to qualify for SBA financing and government contracts. Which of the following would qualify? A. A For-Profit commercial bakery with 475 employees. B. A Not-For-Profit hospital with 1,200 employees. C. A For-Profit architecture design business with 3-year average revenue of $9.2M. D. An Independently owned and Operated farm business with $900,000 in average revenue over 3-years.
D. an Independently owned and Operated farm business with $900,000 in average revenue over 3-years.
What is revenue ?
Revenue is the income generated by a company or organization when it provides goods or services to customers. It is the total amount of money received by a company before subtracting any expenses or taxes. Revenue is essentially the “top line” of a company’s financial statement, and it can come from various sources, such as the sale of goods or services, investments, or donations.
the sale of goods or services, or any other use of capital or assets, associated with the main operations of an organization before any costs or expenses are deducted.
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bank w borrows $10 million from the federal reserve and lends out $8 million to firm x and keeps $2 million in vault cash. firm x deposits $6 million in a checking account at bank y and bank y lends out $5 million to firm z. firm z buys farm equipment with the $5 million. the farm equipment manufacturer spends the $5 million money on parts, rent, labor, interest and dividends. $4 million of the farm equipment expenditures end up in checking accounts at various banks. the initial loan to bank w by the fed: did not change the money supply. increased the money supply by more than $10,000,000. increased the money supply by less than $10,000,000. loans to banks by the fed are not open market operations so they do not increase the money supply.
Loans by the Fed to banks do not increase the money supply because the Fed does not buy or sell securities from its member banks in open market operations.
Option D is correct.
Elaborating:These are typically Treasury bills or mortgage-backed securities. Open market operations are the Fed's main tool for adjusting interest rates.
When it wants interest rates to increase, the Fed sells securities to banks. It curbs inflation and economic growth. When rates need to be lowered, it purchases securities.
Its goal is to boost economic growth and lower unemployment. The Federal Open Market Committee sets its interest rate target during its regularly scheduled meetings.
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Question incomplete:Bank W borrows $10 million from the Federal Reserve and lends out $8 million to firm X and keeps $2 million in vault cash. Firm X deposits $6 million in a checking account at Bank Y and bank Y lends out $5 million to Firm Z. Firm Z buys farm equipment with the $5 million. The farm equipment spends the $5 million money on parts, rent, labor, interest and dividends. $4 million of the farm equipment expenditures end up in checking accounts at various banks. The initial loan to bank W by the Fed:
A. Increased the money supply by more than $10,000,000.
B. Increased the money supply by less than $10,000,000.
C. Did not change the money supply.
D. Loans to banks by the Fed are not open market operations so they do not increase the money supply.
Musicians are much ____
likely to supply recordings to the market if property rights are enforced.
More or Less
Answer:
Musicians are much more likely to supply recordings to the market if property rights are enforced.
Explanation:
Musicians are much more likely to supply recordings to the market if property rights are enforced.
What is the market?The entire number of buyers and sellers in the area or region under consideration is referred to as the market. Earth, as well as several nations, regions, states, and cities, may be the subject. The worth, expense, and cost of the goods traded depend on the forces of supply and demand in the market.
Musicians are much more likely to supply recordings to the market if property rights are not enforced. A single gas station has exclusive rights to operate along a private toll road. As a result, the company can set the price of gasoline market power.
Therefore, By property rights are not enforced. A single gas station has exclusive rights.
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WILL GIVE BRAINLIEST
A hotel will only hire people who can lift 50 pounds or more as bellpersons. This is considered a
- business necessity
- discriminatory action
- nonessential function
- biased decision
Answer:
Business necessity
Explanation:
A hotel that only hires people who can lift 50 pounds or more as bellpersons is considered a business necessity. This is because the job of a bellperson requires physical strength and ability to lift and move heavy bags. This is a legitimate requirement of the job and not considered a discriminatory action, nonessential function or a biased decision.
identify the information an advertising manager gains from reviewing the marketing plan of a company. (check all that apply.) multiple select question.
Identify the information an advertising manager gains from sales goals ,advertising budget ,target market
What is advertising ?
Advertising is the communication used to promote or sell products, services, or brands. It is typically delivered through various media, including traditional media such as newspapers, magazines, television and radio, as well as digital media such as search engines, websites, social media, email, and mobile apps.
is used to inform, persuade, and/or remind an audience about a product, service, or brand. Furthermore, it is used to influence consumers’ attitudes, beliefs, and behaviors. Advertising can be used to increase sales, create brand awareness, or introduce new products or services. It can also be used to build a favorable image for a company or its products. Additionally, it can be used to increase customer loyalty and encourage repeat purchases.
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consumers who have _____ are particularly good targets for marketing communications that use fantasy appeals.
a. a small gap between their real and ideal selves b. a large gap between their real and ideal selves c. looking-glass selves self-fulfilling prophecies
Consumers who have a large gap between their real and ideal selves are particularly good targets for marketing communications that use fantasy appeals.
A consumer is a person or group who wants to order or utilises acquired items, products, or services primarily for personal, social, family, or home purposes and is not actively involved in entrepreneurial or company operations. A person who buys products and services for personal consumption is most usually referred to by the word.
A consumer in an economy purchases products or services for personal consumption rather than resale or business objectives. Without customer demand, one of the primary motives for producers to produce would be to sell to consumers.
Hence the correct option is D
The above question is incomplete the complete question is-
Consumers who have ________ are particularly good targets for marketing communications that use fantasy appeals.
A) self-fulfilling prophecies
B) looking-glass selves
C) a small gap between their real and ideal selves
D) a large gap between their real and ideal selves
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Which of the following is not a significant difference between competing with a new technology in an existing market and competing with a new technology in an entirely new market?
a) A new market for a radically new offering tends to attract many entrants, most offering different designs.
b) At the formation of a new market, there are no incumbent firms.
c) The technology strategist needs to recognize the potential for new competitive positions and new sources of competitive advantage, and to perceive the most profitable opportunities and the most potent threats.
d) In an existing market, a new entrant exploiting a new technology must take market share from incumbent firms.
e) For industry incumbents, transitioning to a new technology can be expensive and time-consuming.
Option D is not significant . An existing market requires that a new entry using a new technology steal market share from established companies.
This claim is false because there is no discernible difference between competing with a new technology in an existing market and competing with a new technology in a market that has never existed before. In both situations, the new entrant will need to outbid existing players in order to gain market share.
A, B, and C are accurate. A fresh market for a fundamentally new product or service tends to draw several competitors, many of whom offer unique designs. There are no established companies when a fresh market first emerges. The potential for new competitive positions and sources of competitive advantage must be recognised, as well as the most lucrative possibilities and the most serious threats.
E also holds true, It might be expensive for industry leaders to switch to a new technology.
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The Incentive Principle states that:
A. scarcity is a universal phenomenon that arises because resources are limited.
B. an action should be taken if and only if the additional benefits from taking the action are at least as great as the additional costs of doing so.
C. if the marginal benefit of an activity increases, then a rational person will engage in more of the activity.
D. having more of one thing usually means getting by with less of something else.
The Incentive Principle states that scarcity is a universal phenomenon that arises because resources are limited. . The correct option is A.
The Incentive Principle is a fundamental principle in the economic analysis, in the incentive principle in a market based economies, prices send signals that act as incentives to buyers and sellers.
The Incentive Principle that act as incentives to buyers and to sellers, changing their behavior that is the amount of a products or services they are willing to purchase or to offer for the sale. The scarcity is a universal phenomenon that arises because resources are limited.
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