The statement which best describes the economic concept of scarcity is People's wants can never be satisfied by the available resources.
The idea of scarcity is anchored in one of life's most fundamental truths: there are only so many resources in the world, and decisions must be made about how to distribute them. In that sense, anything from a pack of gum to a book of matches is limited since it required the use of resources that could have been used elsewhere.
As to how essential scarcity is to economics, scarce products are also referred to as economic goods. When it comes to economics, scarce products are those for which, at a price of zero, demand would outweigh supply.
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The complete question is:
Which of the following statements best describes the economic concept of scarcity?
a. Society is not employing all of its available resources in an efficient manner.
b. People's wants can never be satisfied by the available resources.
c. Scarcity afflicts only poor countries.
d. Too many frivolous goods and services are produced at the expense of socially desirable goods and services.
e. Production is efficient, but distribution is inefficient.
Competition in the 21st century is no longer between companies; it is between:
a. supply chains
b. technologies
c. countries
d. individuals
Correct answer is option A. Competition in the 21st century is no longer between companies; it is between supply chains.
The leadership of the flow of products and services is known as supply chain management, and it encompasses all procedures that transform finished products from raw materials. It entails actively streamlining a company's supply-side activities in order to enhance customer value and gain a competitive advantage on the market. Supply chain administration (SCM) is the greater control of the flow of goods and services, and it encompasses all processes that convert raw materials into finished goods. Companies can reduce costs as well as deliver products to customers faster and more efficiently by managing the supply chain. Good management of supply chains keeps businesses out of the news and away from costly recalls and lawsuits.
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The most common form of theocratic totalitarianism is judaism. True or False?
Fasle. The most common form of theocratic totalitarianism is not judaism. Judaism is one of the oldest Abrahamic religions.
Totalitarianism is a form of government and a political system that prohibits all opposition parties, outlaws individual and group opposition to the state and its claims, and exercises an extremely high if not complete degree of control and regulation over public and private life. It is regarded as the most extreme and complete form of authoritarianism. In totalitarian states, political power is often held by autocrats, such as dictators (totalitarian dictatorship) and absolute monarchs, who employ all-encompassing campaigns in which propaganda is broadcast by state-controlled mass media in order to control the citizenry. By 1950, the term and concept of totalitarianism entered mainstream Western political discourse. Furthermore this era also saw anti-communist and McCarthyist political movements intensify and use the concept of totalitarianism as a tool to convert pre-World War II anti-fascism into Cold War anti-communism.
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What is the way Accenture plan achieve sustainability goal?.
On its part, Julie Sweet said, Accenture has decided to achieve net zero emissions by the year 2025. “We will reuse or recycle all our e-waste and ensure reduction in water usage,” she said. “We see commitment from companies to make their businesses
About AccentureAccenture is a multinational professional services provider based in Ireland. Listed on the Fortune Global 500 list, the company recorded revenues of $43.2 billion in 2019 and employs 492,000 people, to serve clients in more than 120 countries. In 2015, the company employed around 150,000 people in India,48,000 people in the United States,and 50,000 people in the Philippines. Accenture's current clients include 91 Fortune Global 100 companies, as well as more than three-quarters of the Fortune Global 500 companies.
On July 11 2019, Accenture officially appointed Julie Sweet as the new CEO. He also took office on September 1, 2019.
This company was registered as a legal entity in Dublin, Ireland in 2009.
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The circular economy encourages reusing and recycling old products rather than simply discarding them. This allows Poshmark to provide fashion at a reasonable price and with a small environmental footprint. Which business environment does the circular environment fall under? a. technological environment b. global environment c. social environment
d. competitive environment e. economic and legal environment
The right response is C. Social context. Because recycling and reusing products helps to greatly reduce environmental pressure while making efficient use of resources.
The term "environment" may be used to refer to the entirety of all living and non-residing factors as well as their effects on human behaviours. Non-dwelling or abiotic components are water, land, daylight, rocks, and air, whereas all living things or biotic factors include animals, plants, forests, fisheries, and birds.
The status of the environment has a direct impact on human health and wellbeing. In terms of clean air and water, productive land for growing food, energy, and fabric inputs for manufacture, correct wonderful herbal settings fulfil basic aspirations.
The word "environment" is finished. It comes from the word "environed" in French, which meaning to enclose or surround. As a result, the term "environment" encompasses both living and non-living elements, economy including plants, animals, and their relationships to one another, as well as the non-living elements such as air, water, and soil.
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Economic consequences of accounting standard-setting means:
a. standard-setters must give first priority to ensuring that companies do not suffer any adverse effect as a result of a new standard.
b. standard-setters must ensure that no new costs are incurred when a new standard is issued.
c. the objective of financial reporting should be politically motivated to ensure acceptance by the general public.
d. accounting standards can have detrimental impacts on the wealth levels of the providers of financial information.
The correct answer is option c. Economic consequences of accounting standard-setting means: the objective of financial reporting should be politically motivated to ensure acceptance by the general public.
The economic consequences are refer to dealing with the economic cost and benefits of the company as well as the industry in which that standard is applicable. And it will affect the whole country. It will also affect the financial statements of the company.
Economic consequences of accounting standard-setting means that it can have major impact on the level of wealth of financial information provider. Accounting standard-setting's main aim is to ensure the financial reporting process of the companies that becomes more reliable, transparent, consistent, and comparable. It prevents the financial information provider from manipulating the books of account and their wealth.
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The equation, a equal to p quantity 1 plus 0.03 over 4 end quantity all raised to the power of 4 times t, represents the amount of money earned on a compound interest savings account with an annual interest rate of 3% compounded quarterly. determine the value of p if after 7 years, the account balance is $10,478.05. round the answer to the nearest hundredths place.
The value of p calculated by using the saving equation is $9,000.
We are given that the equation for the compound interest savings account is A = P(1 + 0.03/4)^(4t), where P is the initial deposit, t is the number of years, and A is the final account balance.
We are also given that after 7 years, the account balance is $10,478.05 and the annual interest rate is 3% compounded quarterly.
To solve for the initial deposit, we can use the given information to set up the equation: 10478.05 = P(1 + 0.03/4)^(4*7)
We can then use algebra to solve for P: P = 10478.05 / (1 + 0.03/4)^(4*7)
Using a calculator, we can find that P = $9,000 (rounded to the nearest hundredths place)
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According to the AMA definition of marketing, who benefits from this activity?
A. Anti-establishment politicians
B. Partners
C. Customers
D. Elements of society not involved in the exchange
According to the AMA definition of marketing Customers, partners, elements of society not involved in the exchange benefits from this activity.
The American Marketing Association's AMA definition of marketing is likely the most accurate to take into account. The American Marketing Association is truly the top organisation for marketing practitioners, and as a result, it reflects contemporary perceptions and understanding even though many textbooks will have their own variation of the definition of marketing. Every few years, the American Marketing Association examines its definitions to make sure they are still accurate. The process of developing, communicating, delivering, and trading offerings that are valuable to customers, clients, partners, and society at large collectively is known as marketing.
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What is the best economic system to address the three economic questions?.
The best economic system for addressing the three economic questions of what to produce, how to produce, and for whom to produce is a mixed economic system.
This type of system combines aspects of both capitalism and socialism in order to create an environment that is efficient and fair.
With a mixed economic system, market forces are used to drive production decisions, while the government intervenes to ensure that there is an equitable distribution of goods and services that meets the needs of all members of society.
By combining the advantages of both capitalism and socialism, a mixed economic system is able to create a balance between economic efficiency and social equity.
With a variety of economic systems available, it can be difficult to decide which one best suits your needs.
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Which of these organizations is considered for-profit?
a retail clothing store
a social-welfare agency
a local police department
a labor unio
A retail clothing store organization is considered for-profit
Hence, Option A is correct
A for-profit organization is one whose primary objective is to generate revenue or profit. It stands in contrast to a non-profit or not-for-profit organization, which is more concerned with maintaining itself. Non-profit organizations frequently have objectives that are not commercial in nature, like assisting the community.A for-profit organization's main goal is to make a profit, which is to raise more money than it pays out.The business's owners have the option of keeping all profits for themselves or investing some or all of them in running the actual company.Owners of businesses that are for-profit may also distribute a portion of their earnings to their staff. They can therefore implement a profit-sharing plan.To learn more about for-profit here
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Han make parkling juice by mixing 1. 5 liter of juice and 500 milloliter of parkling water
Using mathematical operations we know that the sparkling water is of 2 liters.
What are mathematical operations?
The process of calculating a value using operands and a math operator is known as a mathematical "operation."
The provided operands or integers must follow certain established rules that are associated with the math operator's symbol.
symbols for basic mathematical operations A succession of numbers and processes make form a mathematical expression.
In order to solve mathematical expressions, the following processes are used: parentheses, exponents, multiplication, division, addition, and subtraction.
The order in which each expression should be abbreviated is important.
So, we know that:
1 litle = 1000 mililiters
Then,
Sparkling water = 1.5 liters + 0.5 liters
Sparkling water = 2 liters
Therefore, using mathematical operations we know that the sparkling water is of 2 liters.
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Complete question:
Han makes sparkling juice by mixing 1. 5 liter of juice and 500 milliliters of sparkling water. What are the total liters of sparkling Juice?
difference between standard and itemized deductions
For many taxpayers, not having to itemize their real deductions is an advantage of the standard deduction. To receive the lower tax liability, itemize your deductions if they are larger than your ITEMIZED DEDUCTIONS.
Why do standard deductions exist?You can reduce your taxable income by taking the standard deduction, which is a fixed dollar amount. The standard deduction you are qualified for depends on your filing status. The standard deduction amounts, second, might be of interest to you.
Itemized deductions: what are they?Itemized deductions, though they operate differently from a basic deduction, still lower your adjusted gross income (AGI). In contrast to the standard deduction, itemized deductions have different amounts for each taxpayer.
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One value of uing ______ material i that they are uually well-recognized, which may help to boot ale
The answer is Trademark. One value of using Trademark material is that they are usually well-recognized, which may help to boost sales.
Another benefit of using Trademark is that they can help you build your brand. This can be useful if the brand is well-known and people know about it. Additionally, it can help increase the likelihood that someone will buy from you because they know your brand and the products it relates to.
Trademarks can help increase sales by helping you build a strong, recognizable brand. This can help customers use your product or service with confidence and can lead to increased profits for your business.
Question:
One value of using _____ material is that they are usually well-recognized, which may help to boost sales.
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The internal audit function reports to the CFO or ______ and the ________________.
The internal audit function reports to the CFO or CEO and the Audit Committee of Board of Directors.
In business, Internal auditing generally can be defined as an objective assurance , independent, and consulting activity designed to add value and improve an organization's operations or also company's operations. Through the business of an organizations, internal audit has a function for Evaluate the adequacy of the system of internal controls and also Recommend improvements in controls. Beside that, there are several types of internal audit, such as compliance audits, operational audits, financial audits, and an information technology audits.
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Seventeenth-century economic theory that held that the prosperity of a nation depended on a large supply of gold and silver
a. Columbian exchange
b. Mercantilism
c. Middle passage
Out of the choices given, it may be brought into conclusion that the economic theory of mercantilism was the one that had held prosperity of a nation which depended on a large supply of gold and silver, especially during the seventeenth century. Therefore, the option B holds true.
A lot of economic theories have been able to dominate and stay relevant during different economic periods that have existed. Moreover, the theories have also evolved as per the changing needs and requirements of the ever-increasing scope of operations. However, the theory of mercantilism stayed relevant in the world during the seventeenth century, as the supply of gold and silver was a need of a nation to prosper.
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Which of these operations and supply chain management career paths works closely with manufacturing, marketing, and purchasing to create timely, cost-effective import/export supply chains? a) analyst b) logistics & material planner c) sourcing mgr d) intl logistics mgr
Operations management, supply management, logistics, and channel management are all included in supply-chain management. The best choice is b.
It directs the group's efforts toward achieving particular, prioritised objectives. "Management" is the process of collaborating with and working through people to successfully accomplish organisational goals while making efficient use of limited resources in a dynamic environment. These essential competencies are now part of four widely acknowledged management functions, which Henri Fayol originally referred to as the Five Elements. Control is defined as the way something is handled, the care that is taken, the capacity to supervise, or the obligation to an organisation or group. How someone manages their personal finances is an illustration of control. An illustration of management is the concern for handling delicate items.
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An information system that ________ is typical for a business that uses a differentiation strategy.
An information system that eliminates the primary value chain is typical for a business that uses a differentiation strategy.
Businesses that employ a differentiation strategy often rely on an information system that can effectively eliminate the primary value chain. This information system allows businesses to create unique products and services that set them apart from their competitors, helping them to gain an edge in the market.
By understanding and utilizing the value chain, businesses are able to identify opportunities to add value to their products and services, giving them the potential to increase their profits.
The information system also helps businesses to create cost efficiencies and reduce waste, leading to increased efficiency and productivity. By taking advantage of the primary value chain, companies can gain a competitive edge in their industry.
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what did an association of american colleges and universities survey of employers find that was one of the weakest skills of college graduates?
A survey conducted by the Association of American Colleges and Universities revealed that one of the weakest skills among college graduates is an inability to effectively communicate.
Employers found that graduates often lack the ability to express their ideas in a clear, concise and persuasive manner, both orally and in writing. This can be especially problematic in a professional setting, where effective communication is essential to success.
As such, employers often look for graduates who can demonstrate their communication skills and show that they have the necessary tools to be successful in the workplace.
According to a survey conducted by the Association of American Colleges and Universities, employers have cited a lack of communication skills as one of the weakest skills possessed by college graduates. This includes both verbal and written communication, as well as the ability to effectively collaborate with coworkers.
Employers have stated that effective communication is essential to success in the workplace and is a skill that they often have to teach new hires.
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What is meant by opportunity cost Mcq?.
Which type of firm invests in lean manufacturing programs in order to improve customer service levels for a given inventory investment?
Assemble-to-order
Make-to-order
Engineer-to-order
Make-to-stock
In order to increase customer service levels for a specific inventory investment is make-to-stock, the company makes investments in lean manufacturing programmes.
Spending money now in the pursuit of future growth is what it means to invest. An investment is the use of capital—such as time, money, effort, etc.—with the expectation of earning a return greater than the initial investment. You can choose from four fundamental asset classes, often known as investment categories. Each offers particular advantages, risks, and characteristics. primary investments, including defensive and growth investments, etc. American manufacturers are utilising production strategies like enterprise resource planning and lean manufacturing to increase their competitiveness internationally.
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a person who supports artists especially financially is
A person who supports artists especially financially is Patron. The original word from "patron" is "pater" or "patr-."
Patron is a person who pays support (financial support) to artists, writers, musicians, or charities. The original word "patron" comes from the Latin language → pater or patr- both mean "father."
This word is relatable; consider how a father is expected to financially support his children.
What is financially supports?Financial support refers to any type of financial help or assistance received by a person, institution, or government. It can be in the form of:
1. Assurances
2. Loan payments
3. Expense accommodations
4. Subsidies
5. Welfare payments
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Which of these topics is not of especial interest to a financial manager?
1. Debt
2. Working capital management
3. Capital structure
4. Capital budgeting
Answer: Product Development
Explanation:
Why does comparison shopping lead to better buying decisions?.
Price comparison shopping helps consumers identify which item to buy and where to get it, but price isn't the end-all, be-all of shopping.
About Comparison ShoppingComparison shopping is a way that is done before a transaction, namely by making a comparison of options. This is very important to do either personally or corporately.
For individuals, this process is often found in shops and sellers by comparing benefits, prices, quality, promotions, etc.
In a business or corporate environment. This comparison shopping has a formal procedure in which bids are submitted with healthy competition between sellers.
Now there are also search engines that can perform price comparison functions thanks to technological sophistication. online shops and other online businesses are contributing to this progress.
The offers displayed are real-time prices according to the posts on each product. This greatly facilitates this comparison shopping.
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How does a high unemployment rate affect the economy a high?.
If the unemployment is high, then it will leads the huge effect in the economy.
The term unemployment is defined as the individuals who do not have a job are considered unemployed and it will also includes not having either a part-time, full-time or independent contractor position.
Here we have given that we need to find the effects when high unemployment rate on economy.
As we all know that the high unemployment rate affects the economy in many ways.
Where as the unemployed people tend to spend less, may accrue more debt, and unemployment may lead to higher payments from state and federal governments for things like food stamps.
On the other hand they do not have any other source of income often rely on their savings or borrowed money to fund essential costs such as food and living expenses.
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Is an economic system in which property is owned by the government and allocated to all citizens not only those with the money to afford it?.
Communism, also known as a command system, is an economic system where the government owns most of the factors of production and decides the allocation of resources and what products and services will be provided.
History of the communist economic systemKarl Marx and Friedrich Engels are two people who played a role in the communist economic system. Karl Marx developed a communist economic system in 1800.
He believed that the only way to form a harmonious society was to establish control over the economic system.
The economic goal of communism is to eliminate all differences between classes and realize the means of production that are carried out together.
The main goal is to abolish the capitalist system, where the economic system is controlled by the owners of productive capital.
Karl Marx did not want a capitalist economy because the proletariat was treated unfairly, allowing the bourgeoisie to hold power in a disproportionate way.
Therefore, Karl Marx thought that if the distribution was held by the state and distributed equally, then the workers' paradise would be achieved.
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What is an example of a solution that requires the use of edge computing and the Internet of things?.
Edge computing and the Internet of Things (IoT) are two powerful technologies that can be used together to create innovative solutions to a variety of problems.
For example, an edge computing and IoT-based solution could be used to monitor traffic on a busy highway.
Sensors installed on the highway could detect and transmit real-time data about traffic conditions, which could then be used to optimize traffic flow and reduce congestion. Additionally, edge computing and IoT could be used to connect medical devices in hospitals to create a smarter, more efficient healthcare system.
The possibilities are endless, and these two technologies can be used together to create powerful, innovative solutions.
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companies use a predetermined overhead rate rather than an actual overhead rate because ______.
Companies use a predetermined overhead rate rather than an actual overhead rate because to get around this problem.
For businesses, using a predetermined overhead rate rather than an actual overhead rate can be beneficial in many ways.
Predetermined overhead rates provide a consistent and reliable estimate for the total overhead costs of a company, helping to ensure that sufficient funds are being allocated for these costs.
This type of rate also allows for easier budgeting since the amount of overhead costs is known in advance, rather than changing from project to project due to fluctuating actual costs. By using a predetermined overhead rate, companies can easily plan for and budget their overhead costs, helping them to stay on track financially.
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ceteris paribus, a decrease in the demand for loans
A. drives the interest rate down.
B. drives the interest rate up.
C. might not have any effect on interest rates.
D. results from an increase in business prospects and a decrease in the level of savings. E. results from an increase in business prospects and a increase in the level of savings
Ceteris paribus, a decline in demand for loans lowers interest rates. Because there will be more lenders than borrowers in the market when the demand for loanable money declines, this will result in lower interest rates. As a result, a balance between supply and demand can be achieved through excess supply and decreased demand. Hence, option a) is correct.
The Latin expression ceteris paribus, which means "keeping other things constant," is frequently translated into English as "everything else being equal."
When all other variables are held constant, it serves as a concise indication in the economics of the impact one economic variable has on another. To describe relative market trends and to create and evaluate economic models, many economists rely on ceteris paribus.
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An information system that ________ is typical for a business that uses a differentiation strategy.
A. reduces costs
B. eliminates the primary value chain
C. provides the best online ordering environment
D. reduces the number of employees hired
An information system that C. provides the best online ordering environment is typical for a business that uses a differentiation strategy.
In economic and business, Product strategy generally can be described as the high-level plan for developing and marketing a product. Beside that, product strategy also can be described as how the product supports the business strategy and goals, and is brought to life through product roadmaps. There are four major elements of business strategies, such as customer, competitors, makro environment, and also market. Beside that also there are several types of business strategies, such as comparative business strategies, differentiation business strategies, and segmentation business strategies.
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Explain the difference between scholarships, grants, and work-study programs.
The main difference between scholarships, grants, and work-study programs is that scholarships are merit-based, grants are need-based and work-study are funded.
Scholarships, grants, and work-study programs are all forms of financial aid that can help you pay for college expenses.
Scholarships are usually merit-based and awarded based on academic achievements, athletic abilities, or other talents.
Grants are usually need-based and awarded based on financial need. Work-study programs are funded by the federal government and provide jobs for students with financial needs.
Scholarships and grants do not need to be repaid, whereas work-study programs involve working part-time to earn money to pay for college expenses.
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to analyze the relationship between two variables while holding the values of other variables unchanged is a device known as
To analyze the relationship between two variables while holding the values of other variables unchanged is a device known as Ceteris Paribus.
Ceteris Paribus is a device used to analyze the relationship between two variables while keeping the values of other variables constant.
By using this device, it is possible to understand how changes in one variable can affect the other variables, without having to consider their independent values.
This can be especially useful for understanding the effects of changes in economic or social conditions on a particular outcome. By focusing solely on the relationship between two variables, Ceteris Paribus allows for a more focused analysis of the data being studied.
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