What is scarcity?

A.

The study of how people decide what they want

B.

The study of the types of products available in an economy

C.

When people want more of something than is available

D.

When people do not want the products that are available

Suppose that a small hair styling salon had revenues of $150,000 in a given year. The owner spent $10,000 on utilities, $60,000 on supplies (shampoo, conditioner, hair coloring and other chemicals, etc.

Creating central distribution centers can allow a business to run more efficiently. True False

In your budgeting process, when should you look at recurring expenses? Before looking at your needs Before reviewing your wants After your wants but before you needs After considering entertainment expenses

When revenues exceed expenditures, a. there is a budget surplus. b. there is a budget deficit. c. the government must create more money. d. the government is forced to issue more bonds to raise money.

Explain the differences in working cultures in the U. S. verses Japan. How is leadership affected? Minimum of 100 words

Suppose the dollar is currently worth 110 yen. Based on trade flows and inflation, if the U. S. trade deficit with Japan continues, and if U. S. inflation rates exceed those in Japan which one of the following could be the correct result? A.

Given the following account balances at year end, compute the total intangible assets on the balance sheet of Anisha Enterprises.

Crusher Company has provided the following data for maintenance cost: Prior Year Current Year Machine hours 15,600 19,100 Maintenance cost $33,300 $37,850 Maintenance cost is a mixed cost with variable and fixed components.

Indian GDP in 2014 was 119 trillion rupees, while U. S. GDP was $16.5 trillion. The exchange rate in 2014 was 61.0 rupees per dollar.

A production order quantity problem has a daily demand rate = 10 and a daily production rate = 50. The production order quantity for this problem is approximately 750 units. What is the average inventory for this problem? A. 600 B. 245 C. 300 D.