Gomer decides to spend an hour playing basketball rather than studying. His opportunity cost is: Group of answer choices
Gomer's opportunity cost is the benefit to his grades from studying for an hour.
What is an Opportunity cost?The opportunity cost of an item or a decision taken is based on the concept of the loss of other alternatives when one decision is made out of those other alternatives.
From the given information, Gomer has two alternatives;
To play basketball, or To studyThe inability for Gomer to see the brighter side of studying but rather choose to play basketball for an hour has a detrimental effect on his academics.
Therefore, it would be better if Gomer studied for an hour because the opportunity cost is the benefit to his grades from studying for an hour.
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When adjusting the bank balance in a bank reconciliation, which item must be subtracted from the bank balance?.
Answer:deposits outstanding
Explanation:
correct
What are the cash flows involved in the purchase of a 5-year zero coupon bond that has a par value of $1,000 if the current price is $800? Assume the market rate of interest is 5 percent.
The cash flows involved in the purchase of a 5-year zero coupon bond is: Pay $800 today and receive $1000 at the end of 5 years.
What is Cash flowsCash flows can simply be defined as the inflow and outflow of cash in an organization.
Given:
Par value=$1,000
Current price=$800
Market rate of interest=5%
If the market rate of interest is 5% the cash flow involved in the purchase will be to pay the amount of $800 today (Present value) and receive the amount of $1,000 (Future value) at the end of 5 years reason being that zero coupon bonds do not pay interest periodically.
Inconclusion the cash flows involved in the purchase of a 5-year zero coupon bond is: Pay $800 today and receive $1000 at the end of 5 years.
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One suggestion for helping poor countries enjoy the benefits of free trade is for richer nations to reduce barriers to importing products from those nations particularly for __________ and agricultural products.
The suggestion is that poor countries reduce barriers to products relating to agriculture and textile products.
Why the suggestion?It is thought that poorer nations produce certain type of products and these should be traded freely in developed countries. It is hoped that this would allow poorer nations to become richer.Some of those products include agricultural and textile products, both of which require little processing from raw materials which are abundant in poorer nations.
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How do you think consumer interest in a product impacts the price of that item?
Explanation:
Price has a relative effect: some consumers are sensitive to price, whereas others do not consider the price when making a purchase decision (Sangadji and Sopiah, 2013). ... Consumers tend to associate price with product level, that is, a perceived high price reflects high quality and vice versa.
Steve can bake either 4 loaves of bread or 8 dozen cookies a day. Sarah can bake either 4 loaves of bread or 4 dozen cookies a day.
a. Show the production possibilities frontiers for Steve and Sarah
b. Suppose trade is not allowed between Steve and Sarah and as a result, both Steve and Sarah spending half a day (12 hours) baking bread and the other half a day baking cookie. Show both the production and consumption bundles for Steve and Sarah on their respective PPFs, when trade is not allowed between Steve and Sarah.
c. Show, using production possibility frontiers in (a), that Steve and Sarah would be better off specializing in their baking activities and then trading, rather than baking only for themselves. Be specific and state the production and consumption bundles with trade
The production possibility frontier (PPF) of both Steve and Sarah per day is given in graph A.
Production and consumption bundle of Steve and Sarah on their respective PPF when trade is not allowed is given in graph B
Consumption of steve:
2 Loaves of bread and 6 cookies
Consumption of sarah:
2 Loaves of bread and 2 cookies
The opportunity cost of baking bread for steve:
4 Bread = 12 cookies
4 : 12
= 1 : 3
So,
1 Bread = 3 cookies
The opportunity cost of baking bread for Sarah:
4 Bread = 4 cookies
4 : 4
= 1 : 1
So,
1 Bread = 1 cookies
The opportunity cost of cookies for steve:
12 cookies = 4 Bread
3 cookies = 1 bread
1 cookie = 1/3 bread
The opportunity cost of cookies for Sarah:
4 cookies = 4Bread
1 cookies = 1 Bread
Recall, the lower the opportunity cost, the higher the comparative advantageTherefore,
Steve has a comparative advantage in producing cookies while Sarah has a comparative advantage in producing bread
Before trade:
Total consumption = 4 Bread 8 cookies
After trade:
Total consumption = 4 Bread 12 cookies
In conclusion, the economy is better off
What is production possibility frontier?The production possibility frontier also known as the production possibility curve is the graphical representation of possible combination of goods that can be produced by a producer at a particular time with the available resources.
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Estimates of current rates of extinction:_____________
A) indicate that we have reached a state of stable equilibrium in which speciation and
extinction rates are approximately equal.
B) suggest that one-half of all animal and plant species may be gone by the year 2100.
C) indicate that rates may be greater than the mass extinctions at the close of the Cretaceous period.
D) indicate that only 1% of all of the species that have ever lived on Earth are still alive.
E) suggest that rates of extinction have decreased globally.
It is to be noted that the current rates of extinction as relates to certain animals and plants species show the rates to be higher than the mass extinctions at the end of the Cretaceous Period.
What is the rate of extinction?Rates of extinction simply refer to how quickly species are becoming non-existent.
The rates are said to be on the average of 100 E/MSY. In 2020 for instance about 15 species (according to IUC) were declared extinct.
E/MSY is Extinctions per Million Species-Years. The correct answer, thus, is C.
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In supporting their local economic base, cities may at times incur expenses from doing business with entities located outside of their local community (e.g., in cities with high tourist activity, souvenirs are likely to come from low-wage countries). These expenses are an example of ______ from the local economy.
When cities incur expenses by doing business with entities outside of their economic base, these are called Leakages.
What are leakages?These refer to the flow of cash and resources out of a local economy to other economies.
When cities engage in business with entities from outside their economy, they would be passing on cash to those entities. This cash would therefore leave the local economy which makes it a leakage.
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3.18 The diamond flowcharting symbol is also called the __________ symbol. a) determination b) derision c) declarative d) decision
Answer:
d) decision
Explanation:
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Industries like to be in control of their own destiny and as a result prefer self-regulation to laws imposed by governments. Self-regulation is often ____.
Industries like to be in control of their own destiny and Self-regulation is usually less costly for firms and industry.
What is Self-regulationSelf-regulation is the ability to monitor and manage your behavior, action, emotions, and thoughts in ways that are acceptable.
Self-regulation is usually less costly for firms and industries than government regulation for businesses.
Therefore, Self-regulation is usually less costly for firms.
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The Luminarium Corporation has a market capitalization of $100,000,000, and each share is worth $100. How many outstanding shares of Luminarium Corporation are there
The number of outstanding shares of Luminarium Corporation in the market share is 1,000,000 shares.
What is an outstanding shares?An outstanding shares refers to the number of a firm's shares that is traded on the secondary market.
Outstanding shares = $100,000,000/$100 per share
Outstanding shares = 1,000,000 shares
In conclusion, the number of outstanding shares of Luminarium Corporation in the market share is 1,000,000 shares.
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Question 7 of 10
What is the main disadvantage of overdraft protection?
A. Banks usually charge a fee when it is used.
B. Banks take several days to process the transaction.
C. It keeps a check from being returned due to insufficient funds.
D. It requires customers to maintain a positive account balance.
Answer:
b because I would say in am 72% sure I am right
There's a large number of bakeries in the United States and each of these bakeries produces similar, but not identical, products. Some bakeries will claim to have the best cupcakes in town, while others specialize in breads or cookies. The bakery market is an example of
The bakery market is an example of monopolistic competition.
What is monopolistic competition?A monopolistic competition is competitive market. Monopolistic competition can be defined as the way in which companies selling different products or goods compete against one another.
Despite the product produce by this companies are unidentical product, they still compete against each other as some of them will claim to have the best product than the other companies in the market.
Inconclusion the bakery market is an example of monopolistic competition.
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Rohan wants to buy part of a company, and is interested in stocks. He knows that his favorite company, Apple, is traded on the stock market.
Can he purchase stock in the company?
A No, only those who work for Apple can Invest in the company.
B No, but he can purchase Apple dividends.
C Yes, he can buy bonds In Apple.
DYes, he can buy stock in Apple.
Answer:
Yes, he can buy stock in Apple.
Explanation:
He knows that his favorite company, Apple, is traded on the stock market. so Yes, he can buy stock in Apple.
What is the stock price?Stock market Analysts in economics and financial theory utilize random walk techniques to model the behavior of asset prices, particularly share prices on stock exchanges. This technique is founded on the assumption that investors operate rationally and without bias.
As we buy stock straight from company, There are several companies that will sell stock directly to individual investors. Most companies that offer this kind of purchase option don't charge investors a commission, and if they do, the commission or service charge is very low compared to buying stocks through a broker.
Therefore, Thus option (D) is correct.
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Chris and Nick hope to qualify for an FHA loan. Their lender calculates their housing ratio as 33% and their total debt obligation as 43%. Their credit score is 620. Do they qualify under FHA underwriting guidelines
write the necessary steps that need to be followed in maketing
If the income elasticity of a good is positive, we can conclude that the good is.
Answer:
a normal good
Explanation:
If the income elasticity of a good is positive, we can conclude that the good is a normal good
-Decide if there is a change in demand or just a change in the quantity demanded (movement along the demand curve). Graph the items in the ( )
-If there is a shift in demand state reason for the shift
-Graph each situation and use arrows to illustrate whether demand curve shifts right or left and whether the quantity demanded increases or decreases.
1.The price of gasoline falls (new automobiles)
2.The consumer income rises (new automobiles)
3.the price of pork falls. (Pork and chicken)
4. Household water rates rise (“desert plants”: drought tolerant for landscaping)
5. Pick up stix prices to rise next week (pick up stix food)
6.unemployment rate decreases (Disneyland passes)
7. Tariffs added on imported wine (imported & American wine)
8. Lindsey Lohan is seen wearing a rebel yell sweatshirt (rebel yell shirt)
9. Cream cheese experiences an increase in price (bagels)
10.new reports state Starbucks teas are good for your heart (Starbucks tea)
As the price of gas goes up, The buying and operating a car is said to be very expensive and as such, the demand for cars to decrease.
What is Demand?The definition of Demand in terms of economics is simply known as the zeal or willingness of a consumers and their ability to buy or consume a given goods/services.
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Gina Baccardi is an accounting intern working under the tax accountant for Starlight Fashions, a clothing manufacturer, in New York City. Gina’s salary would be classified as
Since he is working as a tax accountant for Starlight Fashions which is a clothing manufacturer, his salary would be classified as period cost..
What is period cost?In preparation of financial account, a period cost refers to a cost that cannot be capitalized into prepaid expenses, inventory, fixed assets etc
In conclusion, because works as a tax accountant for the clothing manufacturer, his salary would be classified as period cost.
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Assume interest is compounded monthly. The ______ annual rate will express this rate as though it were compounded annually.
A compounded interest rate is sometimes called an effective annual rate.
Answer: effective
What‘s a zero-based budget, and why is it important?.
Answer:
A zero-based budget is the most efficient and useful way of budgeting because it makes you thin about how every dollar that you make is going to be spent so that you don't blow it all on unnecessary stuff. It is important because it allows you to not blow your money on wants instead of spending it on needs.
Explanation:
It should be right because I'm learning about it right now in Finance. Hope it helps! Plz give brainliest. Also, plz sub to Kgirl633 on yt.
50 POINTS AND BRAINLIEST
Econ U2 Intro to Economics
Multiple Choice
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3. A sports collector is considering the purchase of either a hockey jersey or a baseball that was struck for a home run. If the collector chooses to purchase the jersey, what is the opportunity cost? *1point
the time lost looking at both items
the net value of the jersey for the collector
the net value of the ball for the collector
4. A farmer must decide between growing peppers or growing tomatoes. Which trade-off is the farmer considering? *1 point
the profit of growing peppers, compared to the profit of growing tomatoes
the retail value of peppers at the store, compared to the retail value of tomatoes at the store
the cost of growing peppers, compared to the cost of growing tomatoes
5. Kendra is trying to decide whether to go to Abby's house to watch a movie or to go to Samuel's house to play board games. They live about the same distance away, and there is no cost for either event. If she chooses to go to Abby's house, what is the opportunity cost? *1 point
There is no opportunity cost because there is no cost associated with either option. Economics do not apply to this kind of decision.
The difference in value to Kendra of the two options
The net value to Kendra of going to Samuel's house to play games.
6. Sergei had to decide among watching a two-hour movie with a cost of $20, buying a book to read for $10 that would take about four hours to read, and going to a three-hour concert for $30. If he considers the benefit of each situation to be proportional to the amount of time, with a value of about $50 per hour, what is the opportunity cost of the best decision? *1 point
$80
$150
$120
9. How does a pure command economy answer the basic question of which goods and services should be produced? *1 point
The producers decide what should be produced.
The government decides what should be produced.
The consumers decide what should be produced.
10. How does a pure market economy answer the basic question of which goods and services should be produced? *1 point
Producers decide what should be produced.
The government decides what should be produced.
The law of supply and demand drives this choice.
11. Which of the following principles of a free enterprise system BEST explains why businesses in an industry cannot maintain an artificially high price? *1 point
producer sovereignty - they can choose to produce what they want
property rights - producers can own or rent the building they manufacture in
open opportunity - other producers can decide to sell it slightly cheaper to attract more customers
12. Which of the following is an example of open opportunity? *1 point
A student learns to make web pages and starts making websites for local small businesses.
A business decides to change its website provider to reduce cost.
A farmer has the right to decide which crops to plant in his field.
13. Which is an example of a private good? *1 point
an internet connection from a local cable company
a personal computer or tablet used to access the internet
positions in a free online game limited to 100 people
14. Which of the following is a positive externality that would result from converting the inner part of a city to a pedestrian only area? *1 point
the increase in commute time for people who work in the area
a decrease in business in the area
the decrease of pollution in the city
Answer: sorry i took long
3. the time lost looking at both items
4. The cost of growing peppers, compared to the cost of growing tomatoes.
5.The net value to Kendra of going to Samuel's house to play games.
6. $150
9. The producers decide what should be produced.
10. Producers decide what should be produced.
11. property rights - producers can own or rent the building they manufacture in
12. A student learns to make web pages and starts making websites for local small businesses.
13. a personal computer or tablet used to access the internet
14. the decrease of pollution in the city
3. A sports collector is considering the purchase of either a hockey jersey or a baseball that was struck for a home run. If the collector chooses to purchase the jersey, what is the opportunity cost?
the time lost looking at both items ✓ the net value of the jersey for the collectorthe net value of the ball for the collector⇢ opportunity cost refers to the time wasted when we look for one thing and buy another one
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4. A farmer must decide between growing peppers or growing tomatoes. Which trade-off is the farmer considering?
the profit of growing peppers, compared to the profit of growing tomatoesthe retail value of peppers at the store, compared to the retail value of tomatoes at the storethe cost of growing peppers, compared to the cost of growing tomatoes ✓⇢Trade off refers to the lost when we perform something resulting in losing a day wage
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5. Kendra is trying to decide whether to go to Abby's house to watch a movie or to go to Samuel's house to play board games. They live about the same distance away, and there is no cost for either event. If she chooses to go to Abby's house, what is the opportunity cost?
There is no opportunity cost because there is no cost associated with either option. Economics do not apply to this kind of decision.The difference in value to Kendra of the two optionsThe net value to Kendra of going to Samuel's house to play games. ✓⇢opportunity cost refers to the time wasted when we look for one thing and buy another one
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6. Sergei had to decide among watching a two-hour movie with a cost of $20, buying a book to read for $10 that would take about four hours to read, and going to a three-hour concert for $30. If he considers the benefit of each situation to be proportional to the amount of time, with a value of about $50 per hour, what is the opportunity cost of the best decision?
$80 $150$120 ✓⇢opportunity cost refers to the time wasted when we look for one thing and buy another one
⇢Most benefit : 2 hours movie cost $20
=$20 + $50 x 2=$20 +$100=$120-----------------------------------------------------------------
9. How does a pure command economy answer the basic question of which goods and services should be produced?
The producers decide what should be produced.The government decides what should be produced.The consumers decide what should be produced. ✓⇢More demand,more production
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10. How does a pure market economy answer the basic question of which goods and services should be produced?
Producers decide what should be produced. ✓ The government decides what should be produced.The law of supply and demand drives this choice.⇢Here , producer being the head , decides what should be produced.
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11. Which of the following principles of a free enterprise system BEST explains why businesses in an industry cannot maintain an artificially high price?
producer sovereignty - they can choose to produce what they wantproperty rights - producers can own or rent the building they manufacture inopen opportunity - other producers can decide to sell it slightly cheaper to attract more customers ✓⇢Lower the price,more the sale if both are of same quality
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12. Which of the following is an example of open opportunity?
A student learns to make web pages and starts making websites for local small businesses. ✓ A business decides to change its website provider to reduce cost.A farmer has the right to decide which crops to plant in his field.⇢ It's government plan to encourage manufacturers
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13. Which is an example of a private good?
an internet connection from a local cable companya personal computer or tablet used to access the internet ✓positions in a free online game limited to 100 people⇢Private good belongs to an individual and not to a group or an organisation
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14. Which of the following is a positive externality that would result from converting the inner part of a city to a pedestrian only area?
the increase in commute time for people who work in the area ✓ a decrease in business in the areathe decrease of pollution in the city⇢the increase in commute time for people who work in the area would help people to use pathways more often
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Identify the stage of the rational decision-making process illustrated by the situation. Your goal was to capture at least 25% market share by the end of the year, but with six months to go you have only 15% market share.
Identify the problem
State the situational goal
Generate alternatives
Read this brief case study and answer the question that follows.
CASE STUDY
Your candy making company is at a crossroads. You have maxed out your current production capacity, but think that there may be a new opportunity in custom fruity nut caramel clusters that could be very profitable to the company. You think through your options, and decide that you would like to expand your company to include this high potential new product.
As the production line for the custom fruity nut caramel clusters is being implemented you realize that if you do it slightly differently than you originally decided you can produce 10% more candy every hour.
Choose an alternative
Evaluate alternatives
Control
Although you thought that paying high performers significantly more than low performers best motivated your employees, when you looked at the data you found that wide disparities in pay actually weakened trust among team members and the social connectivity that contributes to strong team- based decision-making.
Alternative generation
Choose an alternative
Evidence-based management
1. The stage of the rational decision-making process illustrated by the situation is B. State the situational goals.
What is rational decision-making?Rational decision-making involves the following seven steps:
Identify the decision (state the goals)Gather relevant informationIdentify the alternativesWeigh the evidenceChoose among the alternativesTake actionReview your decision.What is a situational goal?A situational goal concentrates on assessing individuals for their strengths, skills, and levels of maturity in achieving stated the goal.
Thus, stating the situational goals is one of the stages of the rational decision-making process.
2. When the candy-making company comes to a crossroads, with an expansion decision that changes midway, what you are doing is C. Control.
What is Control in Management?In management, control checks errors so that corrective actions are taken timely.
Implementing this function of management helps the organization to avoid deviations that can ruin the attainment of its goals.
3. Discovering that paying high performers significantly more than low performers weakened team trust and the essential social connectivity that contributes to strong team-based decision-making, means that you are using C. Evidence-based management style.
What is evidence-based management?Evidence-based management helps managers to embark on critical evaluation of the following factors concerning the evidence:
ValidityGeneralizabilityApplicability.Thus, the rational decision-making process involves choosing the best solution to a problem.
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Money has time value because: _______________
a. people prefer to sell things later rather than today.
b. people do not require compensation for deferring consumption.
c. people can earn interest on money that is invested.
d. people prefer to receive money tomorrow than today because it is worth more.
Answer:
We can try to get a lot of money for family to stay comfortably in future.
Money has time value because people prefer to receive money tomorrow than today because it is worth more. Hence, option D is the correct answer.
The statement "money has time value" refers to the concept that the value of money can change over time. Time value of money recognizes that a dollar received today is generally considered more valuable than receiving the same dollar in the future. There are several reasons for this:
Opportunity CostInflationRisk and UncertaintyThe time value of money recognizes that receiving money today allows individuals to benefit from opportunities, mitigate the impact of inflation, and have greater control and certainty over its use.
Therefore, option D is the correct answer.
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Termites have a protozoan symbiote in their gut that breaks down the cellulose in wood, allowing the termite to obtain nutrients from the wood while the protozoan is protected from the external environment. Therefore, the termite and the protozoan are:______________
The termite and the protozoan are Inseparable.
What is protozoan?
Single-celled organisms are called protozoa. They appear in a wide variety of sizes and shapes, ranging from the flexible amoeba to the fixed-shaped, intricately arranged unicellular organism.
Therefore,
Termites have a protozoan symbiote in their gut that breaks down the cellulose in wood, allowing the termite to obtain nutrients from the wood while the protozoan is protected from the external environment. Therefore, the termite and the protozoan are Inseparable.
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At the drive-up menu for his favorite fast food restaurant, Jake notices the menu is listed in categories: breakfast items, lunch items, dinner items, and dessert items. Why would the fast food chain organize its menu in this way?
The fast food chain organizes its menu by categories to make it easier for customers to relate to categories based on the time of day they are purchased.
What is the Customer experience?It can be understood as the cognitive, sensory and psychological responses that will guide consumer behavior in the stages:
Pre-purchaseConsumptionPost-purchaseTherefore, it is essential that an organization thinks about every detail of the business that will create a positive experience for the consumer, generating value and increasing market positioning.
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The process of leaving your money and any accumulated interest in an investment for more than one period, thereby reinvesting the interest, is called:.
Compounding is the process of leaving your money and any accumulated interest in an investment for more than one period, thereby reinvesting the interest.
What is compounding?This can be explained to be a situation where the interest that is made from a sum of money is added into the principal sum of money and reinvested.
The initial principal amount and the interest made after a period when added together is regarded as compounding.
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A rule that requires developers to provide purchasers with written comprehensive property reports and disclosures with a sales contract is created by the A) Georgia Time-Share Act. B) Georgia Land Sales Act. C) Condominium Declaration. D) Georgia Condominium Act.
Georgia Condominium Act is the law that requires developers to present purchasers written documents of all their agreement about the property involved.
Georgia Condominium Act?Georgia Condominium Act is a rule that requires developer to give a written document contains the terms surrounding the purchase and sale agreement on the property between between the parties involved. All relevant information about the property and the financial cost , deadlines are stated in the documents plus every other necessary agreements. individuals.
Therefore, Georgia Condominium Act. is the law that requires developers to present purchasers written documents of all their agreement about the property involved.
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What inventions need to be made?
What difference will they make
Answer:
A nice invention that'd be nice for it to be made would be Anti Polluting Machines they purify the air all over the world ending majority of diseases that could spread throughout the world. Which would make earth a Healthier planet to be on.
Answer:
I think a Dream Recording Device needs to be made
Explanation:
The average person has between 4-7 dreams per night. But most of them are not remembered, or forgotten moments after waking. So wouldn’t it be nice to be able to record your dreams and play them back in 3D High Definition the next day?
A retired couple tells a real estate agent that they want to find a home close to medical facilities and a senior citizens center. On which of the five major factors influencing the choice of property location is the couple basing this request?
The major factor influencing the choice of property location is the couple basing the request on Social services.
What is Social services?
These are services that provide support and assistance to disadvantaged people such as elderly and physically challenged.
The retired couple wanting to be close to medical facilities and a senior citizens center means that social services was greatly considered in their choice of location.
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