Eco 2023 - Study guides, Class notes & Summaries

Scarcity correct answers unlimited wants but limited resources what is produced? correct answers economic question "what" How will goods and services be produced? correct answers economic question "how" Who will get the goods and services? correct answers economic question "who" Traditional approach correct answers do what we have always done. Inflexible Command approach correct answers government dictates what to produce market-based approach correct answers let prices, ...

ECO 2023 FSU Exam 1 (ANSWERS) 2024 - DISTINCTION GUARANTEED / Complete Verified Latest Version

Well-structured SCH4801 Assignment 2 (ANSWERS) 2024 - DISTINCTION GUARANTEED. (DETAILED ANSWERS - DISTINCTION GUARANTEED!)..... SECTION A TOTAL:[24 MARKS] Please read the case study below before answering any questions. SCH4801 ASSIGNMENT 2 2024 Page 7 of 16 Nando’s: A Triumph of Supply Chain Excellence Nando’s, a South African casual dining restaurant chain renowned for its delectable flame-grilled peri-peri chicken, has had a remarkable journey that started in 1987 in Johannesburg, So...

the study of economics correct answers the choices people make to attain their goals, given their scarce resources productive efficiency correct answers when goods and services are produced at the lowest possible cost _________ occurs a statement that is true about competition in a market correct answers competitions forces firms to produce and sell products as long as the margin benefit to consumers exceeds the marginal cost of production whether or not consumers will buy its products ...

Robert withdrew $100,000 from an account that paid 10 percent annual interest and used the funds to purchase real estate. After one year he sold the property for $120,000. Robert's economic profit on this deal was: a) $120,000 b) $100,000 c) $20,000 d) $10,000 correct answers D, $10,000 In the long run: a)some inputs are fixed. b) the firm is constrained in regard to what production decisions it can make. c) all inputs are variable. d) some inputs are variable and some are fixed. cor...

Law of diminishing marginal utility correct answers The basic economic principle that as the consumption of a product increases, the marginal utility derived from consuming more of it (per unit of time) will eventually decline marginal utility correct answers the additional utility, or satisfaction, derived from consuming an additional unit of a good marginal benefit correct answers the maximum price a consumer will be willing to pay for an additional unit of a product. It is the dollar va...

TAX3701 Assignment 2 (VERIFIED ANSWERS) Semester 2 2024 (798141) - DUE 13 September 2024 QUESTION 1 (35 marks, 63 minutes) Tau Steelworks (Pty) Ltd (Tau) is a South African company manufacturing a range of steel products used in building construction for the local and the export market. The company is not a small business corporation as defined and is also registered as a VAT vendor with the South African Revenue Service (SARS). The company’s process of manufacturing has been approved by SARS...

a combination of goods on a given PPF is correct answers Both obtainable and Efficient For a normal good, if INCOME goes UP, what happens to supply? Demand? correct answers Demand shifts right and the supply remains unchanged For an inferior good, if INCOME goes UP, what happens to supply? Demand? correct answers Demand shifts left and the supply remains unchanged bananas and oranges are perfect substitutes. If the PRICE of bananas goes UP, what happens to the demand for oranges? the Su...

This document contains workings, explanations and solutions to the HRM2604 Assignment 3 Semester 2 2023. For assistance call or whatsapp us on 065 505 3119 .....................Rudy has recently started his job as a performance management specialist at EcoBoat, a company that builds small to medium-sized boats in an eco-friendly way. The company is based in KwaZulu-Natal. EcoBoat recently changed its performance management (PM) system. This helped to stabilise a problematic period brought by the...

SCH4801 Assignment 2 (DETAILED ANSWERS) 2024 - DISTINCTION GUARANTEED - DISTINCTION GUARANTEED - DISTINCTION GUARANTEED Answers, guidelines, workings and references ...... SECTION A TOTAL:[24 MARKS] Please read the case study below before answering any questions. SCH4801 ASSIGNMENT 2 2024 Page 7 of 16 Nando’s: A Triumph of Supply Chain Excellence Nando’s, a South African casual dining restaurant chain renowned for its delectable flame-grilled peri-peri chicken, has had a remarkable jou...