All categories

1 year ago

What forces businesses, industries, and governments to make decisions? services producers goods scarcity

Business

2 answers:

777dan777 [17]1 year ago

5 0

<h2>Answer:</h2>

The most powerful in their decisions is scarcity. Shortage alludes to the essential financial issue, the hole between constrained – that is, rare – assets and hypothetically boundless needs.

This circumstance expects individuals to settle on choices about how to designate assets effectively, so as to fulfill essential needs and however many extra needs as would be prudent.

klio [65]1 year ago

5 0

Answer:

Scarcity is what forces organizations to make decisions and is the most influential factor in decision making.

Explanation:

Scarcity is regarded as the basic economic problem which is encountered globally. Scarcity defines the concept of how resources are limited whilst the societal demands are infinite. For example: 100,000kgs of wheat flour is available from one a collection point (within a factory), based on the availability of resources, the organization seeks to identify the need with the highest demand (Total demand for wheat based products: Bread – 75%, Biscuits – 10% and Cakes – 15%), therefore, based on the demand, the organization can make a decision to allocate resources to produce bread.

Further explanation:

Industries, businesses and governments collectively allocate resources based on its availability and based on the level of demand communicated by society.

When decisions are been made on what should be prioritized, any establishment will look into the amount of resources available, accordingly the demand for the need is looked into. The higher the demand, the higher the degree of resources allocation is.

The scarcity helps determine what producers will produce, what services will require and utilize the available resources and what goods will be produced with the available assets.

Learn more:

1. about scarcity at brainly.com/question/4747543 by GACHSstudentE2020

2. about demand at brainly.com/question/1828126 by marks8ginatu

3. about scarce resources at brainly.com/question/1669168 by Barbaraboanada

Keywords

Resource Allocation, Scarcity, Demand

You might be interested in

Suppose you were hired as a consultant for a company that wants to penetrate the Comp-XM market. This company wants to pursue a

Andreas93 [3]

Answer:

Option B. Chester Company

Explanation:

The company wants to pursue Niche Cost Leader Strategy. In a Niche cost leader strategy the product is highly differentiated and the cost the company charges to its customer is low as apposed to other competitors. The companies that has highly differentiated product and are new entrants usually use this strategy to win a good share of market size.

The strongest competitor would have lowest price, very stable market share price, high investment in plant and equipment, higher production capacity, lowest return on investment, lowest earnings per dollar sales. etc.

Now we will asses different reports and conclude which competitor will be the strongest competitor for the Niche Cost Leader Strategy company. The analysis is given as under:

Lowest Price: If we look at the Production information, Price Column and take the average price of the products of each company then we can conclude that Chester's price of average product is $20, Baldwin has $24.17 and the rest of the competitors are charging high. This means Chester is charging lowest price.
Stable Market Share Price: The vulnerability of share price of Chester is the lowest which stands at $0.45. This means that the stock exchange values the company's share as a stable stock with least vulnerability. (See Stock Market Summary)
Lower Return on Asset and Return on Sales: If we analyze the Selected Financial Statistics then we will acknowledge that Chester also has 2nd lowest Return on Assets and Return on sales which shows that the company is charging lower prices to its customers. Baldwin is not appropriate to consider here because the company is incurring losses hence its Return on Assets and Return on Sales can not be considered as good indication.
Higher Investment in Plant and equipment: The company has 2nd highest investment in plant and equipment with highest Net Book Value of $148k and Baldwin stands at $178k. Now again the higher investment of Baldwin is financed by debt which costs the company more than Chester. This means Chester would be strongest competitor because the company will have to only bear the depreciation cost which is non cash flow in nature and not the interest cost which Baldwin is bearing. (See Income statement for Interest Cost and Balance sheet for Carrying value of the asset).
Production Capacity: Chester has the highest production capacity which means that the company despite its 2nd largest investment in plant and equipment. This means that the plant and machinery of Chester is more innovative which is the reason that the production capacity is higher than other competitors.

From the above analysis it seems that Chester is pursuing Niche Cost Leader Market and is the strongest competitor that the company will face. Hence B is the correct option here.

6 0

2 years ago

Jersey Corporation has a process costing system in which it uses the weighted-average method. The equivalent units for conversio

solmaris [256]

Answer:

Units started=35,000 units

Explanation:

First we will have to calculate the number of units transferred out:

Equivalent units for month=47,500

Ending work in process inventory=10,000*0.75=7,500 units

Formula:

Equivalent units =Units transferred out+ Ending work in process inventory

Units transferred out=Equivalent units - Ending work in process inventory

Units transferred out=47,500=7,500

Units transferred out=40,000 units

Formula for calculating units in the start:

Units transferred out=Units in beginning inventory+Units Started-Units in Ending Inventory

40,000=15,000+Units started-10,000

Units Started=40,000-15,000+10,000

Units started=35,000 units

6 0

2 years ago

Steve Corp bought a $600,000 apartment building in June of 2014. Of the purchase price, $104,950 is allocated to the value of th

blsea [12.9K]

Answer:

$18,000

Explanation:

According to the Internal revenue service, the useful life of the rental property would be 27.50 years.

The computation of the maximum amount of depreciation is shown below:

= (Purchase cost of building - allocated value of land - salvage value) ÷ useful life

= ($600,000 - $104,950 - $0) ÷ 27.50 years

= $495,050 ÷ 27.50 years

= $18,000

7 0

1 year ago

In January, Stripe, Inc. purchased 50 shares of its own $10 par value common stock for $20 per share. In March, Stripe sold 10 s

kvasek [131]

Answer: credit; $200

Explanation:

The journal entry to record the sale of treasury stock using the cost method would include a credit to Treasury Stock in the amount of $200.

Using the cost method, the journal entry should reflect the sale of the stock at the original price it was purchased at ( its cost). With the original cost of purchase being $20, the 10 shares that were sold will be recorded as;

= 10 shares * $20

= $200

This will be credited to the Treasury account and along with the additional amount made on the sale, debited to the cash account to reflect a cash increase.

3 0

1 year ago

How did Ben Casnocha decide on a price for his product?

romanna [79]

Answer:

We figured out how much the problem was costing the customer — and priced the product around that number.

Explanation:

i was writing a paper and had this in my notes

3 0

1 year ago

Read 2 more answers