Economic models are simplified descriptions of processes, relationships, or other phenomena.
Economic models are simplified representations of real-world situations. They are constructed to capture and analyze specific aspects of economic phenomena, such as supply and demand, consumer behavior, or investment decisions. While economic models may not capture every detail of the real world, they serve as valuable tools for understanding and making predictions about economic behavior.
Models are useful because they provide a structured framework for studying complex economic systems, allowing economists to identify key variables, analyze cause-and-effect relationships, and make informed policy recommendations. By abstracting away less important or complicating features, models can focus on the core factors that drive economic outcomes.
While economic models involve simplifications and assumptions, they still provide valuable insights and help in decision-making. Models allow economists to explore different scenarios, test hypotheses, and quantify the potential impacts of policy changes. However, it is important to recognize that models are not perfect representations of reality and that uncertainty and unforeseen factors can affect their accuracy. Nevertheless, their utility lies in providing valuable insights and understanding of economic phenomena, despite their inherent simplifications.
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true or false? group insurance is a type of private insurance that anticipates a large group of individuals will purchase insurance through their employer and the risk is spread among those paying individuals.\
This is untrue; group insurance is a form of private insurance that assumes a sizable number of people will purchase insurance through their employer, distributing the risk among those paying individuals.
The majority of people have some sort of insurance, whether it is for their life, their home, or their car. However, the majority of us don't really take insurance the time to consider what insurance is or how it risk operates.
Simply put, insurance is a contract, represented by a policy, under which a policyholder receives monetary protection or payment from an insurance firm against losses. To make payments more manageable for risk the insured, the company pools the risks of its clients.
Insurance policies are used as a hedge against the risk of monetary losses, both large and minor, that may arise from harm to the insured or their insurance property, or from liability for damage or injury given to a third party.
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Alright y'all, I made a cover for my powerpoint, for a school project, and it took me an embarrassingly long time to make. Please give me some feedback on it. What do you like and what don't you?(There's no wrong answer, but please give a relevant one because I really want to know what y'all think.)
Answer:
I saw the pic. I think it looks great :)
Explanation:
Also it doesn't matter how long it took, I bet it feels good knowing you made that yourself.
true/false. more job loses in the manufacturing sector helped pull employment down by 390,000
The statement more job loses in the manufacturing sector helped pull employment down by 390,000 is false because according to the fourth round (January-March 2022) of the Quarterly Employment Survey (QES), a component of the All India Quarterly Establishment based Employment Survey (AQEES).
Manufacturing remains the largest institutional employer in the nation, employing about 38.5% of the workforce. Since 2000, the employment rate for manufacturing has fallen, in part due to changes in the skills needed to do new tasks, import competition, and a decrease in mobility.
India's manufacturing industry plays a significant role in the economic expansion of the nation. About 12% of the workforce in India is employed by it, and it contributes about 15% of the GDP of the nation.
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What is the best way to minimize fraud expense within an organization?
a. Effective early detection of fraud.
b. Effective investigation of fraudulent behavior.
c. Effective prevention of fraud.
d. Effective research of fraud.
The best way to minimize the cost of fraud within an organization is to implement effective prevention of fraud. This may include establishing internal controls such as segregation of duties and monitoring of employee activity.
In addition, it is important to educate employees on fraud prevention methods and conduct fraud awareness training. This will make employees better informed about the types of fraud that can occur and how to detect and prevent it. Organizations should also have procedures in place to report suspected fraud and investigate any suspicious activity. By taking these steps, organizations can minimize the potential for fraud and ultimately the associated costs of fraud.
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Our daily personal financial transactions has been made easy with the use of A. B. money. cheque. C. pay slips. D. documents.
Answer:
Money
Explanation:
Money is used as mode of exchange
Ray lends $3,500. 00 $ 3,500. 00 to aron at a simple interest of 15% 15 % per year. Aron returned him $3,000. 00 $ 3,000. 00 and a watch after 2 2 years to clear the account. What is the price of the watch?.
The price of the watch, given the simple interest on the loan from Ray to Aron, is $ 1, 550
How to find the price of the watch?The price of the watch would be the amount that when added to the $3, 000 that was paid back, would complete the repayment of the debt of $3, 500 from Ray.
First, find the total amount to be paid back:
= Loan amount + ( Loan amount x simple interest x number of years )
= 3, 500 + ( 3, 500 x 15 % x 2 )
= $ 4, 550
The value of the watch is:
= Total to pay back - Amount brought in cash
= 4, 550 - 3, 000
= $ 1, 550
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List 3 responsibilities that a consumer has when making a purchase.
check receipt, know the return policy, read the fine print
Answer:
1 searching for information about de goods
2 realizing the need of something
3 evaluating different products
A consumer's responsibilities include checking receipts, knowing the return policy, and reading the fine print.
Responsibility of a Consumer
Every consumer has basic responsibilities they need to adhere to when making a purchase. This is done to protect their right via consumer laws and these responsibilities includes
check the receipt of the purchaseknow the return policyread the fine print.When a consumer makes a purchase, s/he is required to check the receipt to avoid overbilling or charges from done intentionally or not. Knowing the return policy and reading the fine print would guide you in the use of the product.
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the manufacturer has put in place a price discrimination policy, where it charges its household customers more per unit than it charges its industrial users. the manufacturer wants to keep the retailer from arbitraging away the profits from the policy. the manufacturer should a. vertically integrate into the retail operations in the household market b. vertically integrate into the retail operations in the industrial market c. reward the household market retaile
The manufacturer wants to keep the retailer from arbitraging away the profits from the policy. the manufacturer should vertically integrate into the retail operations in the household market . Thus , Option A is correct.
What is Price descrimation?
A selling tactic known as price discrimination involves charging clients various rates for the same good or service depending on what the vendor believes they can persuade the customer to accept. When a merchant uses pure price discrimination, they charge each consumer the highest price they will agree to. In more prevalent types of price discrimination, the supplier divides clients into groups based on particular characteristics and assesses a different price to each group. When a seller discriminates on pricing, each consumer pays a different price for the same good or service.The basis for price discrimination is the seller's conviction that specific groups of customers can be requested to pay more or less depending on their demographics or how much they value the goods or service in question.To know more about Manufacturers visit:
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why cant i work when im 13?
Answer:
Because you're not "old enough" to work, it's like you're still seen as a kid but its different for other countries and states.
Explanation:
DUE TO UNFORTUNATE REASONS YOU CAN NOT bcuz of an age limit. Lifes cruel young blood. The world doesnt want you to advance in life, to strive and prosper. keep living homie :(
Calculating Rates of Return [त्र LO2] Suppose an investment offers to triple your money in 12 months (don't believe it). What rate of return per quarter are you being offered?
Calculating the rate of return for the given scenario is an important step. The investment offers to triple your money in 12 months, so we can use the rule of 72 to calculate the interest rate. The rule of 72 says that to find the number of years it takes to double your investment at a given interest rate, you divide 72 by the interest rate.
So, to triple your money, you need to divide 72 by 3, which is 24. That means you're looking for an investment that will earn you 24% interest over the course of a year. Now, we can calculate the quarterly rate of return. If you want to triple your money in a year, that means you want to earn 200% interest over the course of a year (100% for your initial investment, and 100% to triple your money).
To calculate the quarterly rate of return, you need to divide this by 4, since there are 4 quarters in a year.200% / 4 = 50%So, the quarterly rate of return for this investment would be 50%. In conclusion, the quarterly rate of return for an investment that offers to triple your money in 12 months (don't believe it) is 50%.
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if the monopolist can engage in perfect price discrimination, what is the average revenue when 7 ties are sold
When a monopolist engages in ideal price discrimination, the marginal revenue curve lies beneath the demand curve. the demand curve and the marginal income curve are identical.
What is a flawlessly discriminating monopolist?A discriminating monopoly is a monopoly firm that fees one of a kind costs to one of a kind segments of its customer base. An on-line retailer might also charge greater expenses to customers in wealthy ZIP codes and decrease expenditures to these in poorer regions.
Is a perfectly rate discriminating monopolist efficient?The flawlessly charge discriminating monopolist will be allocatively efficient due to the fact the ultimate unit bought will have a fee equal to marginal cost.
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Which organization or agency accredits veterinary technology programs in the united states?
The American Veterinary Medical Association (AVMA) accredits veterinary technology programs in the United States.
The AVMA is the primary organization responsible for accrediting veterinary technology programs in the United States. The AVMA's Committee on Veterinary Technician Education and Activities (CVTEA) oversees the accreditation process.
Accreditation by the AVMA ensures that veterinary technology programs meet specific standards of quality and education, including curriculum, faculty qualifications, facilities, and clinical training opportunities. Veterinary technology programs that are accredited by the AVMA are recognized for providing a high level of education and training to students pursuing a career as veterinary technicians.
The AVMA accreditation process involves a comprehensive evaluation of the program, including a self-study report, site visit by a team of evaluators, and review by the CVTEA. Accreditation status is granted to programs that meet the established standards and requirements.
The American Veterinary Medical Association (AVMA) is the organization responsible for accrediting veterinary technology programs in the United States, ensuring that these programs meet the necessary standards for quality education and training in the field.
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As a newly employed Chief Design Officer (CDO) of a start-up company, Ghana CoFarmers Ltd, you have been tasked to undertake your first project which is to design a system for selling cocoa. The aim is to develop an interface that meets the needs of both the farmers (in Ghana) and the customers. Describe in detail a design methodology of four stages to facilitate the proper design of such a system. Write your answer in the form of a management plan for this project. For each stage, indicate the number of weeks that should be allocated. Hint: Note the four phases of the design process:
Requirements analysis
Preliminary (conceptual) and detailed design
Build and implementation
Evaluation
The project aims to design a system for selling cocoa that satisfies the needs of farmers in Ghana and customers.
The design methodology will consist of four stages: requirements analysis, preliminary and detailed design, build and implementation, and evaluation. The estimated duration for each stage is as follows:
1. **Requirements Analysis (4 weeks):**
During this stage, the team will gather and analyze the requirements of both the farmers and the customers. Engage with stakeholders, conduct interviews, and perform market research to gain a deep understanding of the target users and their needs. Document the identified requirements and prioritize them based on importance and feasibility.
2. **Preliminary and Detailed Design (6 weeks):**
In this stage, the team will create the conceptual design for the cocoa selling system. Generate ideas, sketch out wireframes, and develop prototypes to visualize the system's structure and functionality. Seek feedback from stakeholders and iterate on the designs. Once the conceptual design is finalized, proceed to the detailed design phase, where specific features, interfaces, and workflows will be defined.
3. **Build and Implementation (12 weeks):**
During this stage, the development team will build the cocoa selling system based on the finalized design. Divide the development tasks into sprints, following an agile methodology. Begin with developing the core features and progressively add additional functionalities. Conduct regular testing and quality assurance to ensure the system's stability, usability, and security.
4. **Evaluation (4 weeks):**
In the final stage, the system will undergo a comprehensive evaluation to assess its performance and user satisfaction. Conduct usability tests, collect feedback from users, and measure key metrics such as conversion rates and customer engagement. Identify areas for improvement and refine the system based on the evaluation results.
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Matheson Electronics has just developed a new electronic device which, when mounted on an automobile, will tell the driver how many miles the automobile is traveling per gallon of gasoline.
The company is anxious to begin production of the new device. To this end, marketing and cost studies have been made to determine probable costs and market potential. These studies have provided the following information: a. New equipment would have to be acquired to produce the device. The equipment would cost 315,000 and have a 12 -year useful life. After 12 years, it would have a salvage value of about 15,000 . b. Sales in units over the next 12 years are projected to be as follows: c. Production and sales of the device would require working capital of 60,000 to finance accounts receivable, inventories, and day-to-day cash needs. This working capital would be released at the end of the project's life. d. The devices would sell for 35 the following; variable costs for production, administration, and sales would be 15 per unit. e. Fixed costs for salaries, maintenance, property taxes, insurance, and straight-line depreciation on the equipment would total 135,000 per year. (Depreciation is based on cost less salvage value.) f. To gain rapid entry into the market, the company would have to advertise heavily. The advertising program would be: g. The company's required rate of return is 14% .
Required:
(Ignore income taxes.)
(a) Compute the net cash inflow (cash receipts less yearly cash operating expenses) anticipated from sale of the device for each year over the next 12 years.
John need to invest $16393.44 with the process of simple interest.
What is simple interest?Simple interest is calculated based on a loan's principal or the initial deposit into a savings account. Simple interest doesn't compound, therefore a creditor will only charge interest on the principal sum, and a borrower will never be required to pay further interest on the interest that has already accrued.
Rate of interest = 12%principal + interest = $40000
Time = 12 years
Simple interest = \(\frac{p \times 12 \times 12}{100}\\=1.44p\)
Now principal + interest = 40000
\(\frac{p \times 12 \times 12}{100}\\=1.44pNow principal + interest = 40000\Rightarrow p+1.44p=40000\\\Rightarrow 2.44p=40000\\\Rightarrow p=\frac{40000}{2.44}\\\Rightarrow p= 16393.44\)
Therefore, John need to invest $16393.44.
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suppose that on october 1 (two years from now) the warrant is trading at a price of $27.36 per warrant. the premium over the formula value on october 1 will be .
The premium over the formula value on October 1 two years from now cannot be determined without knowing the formula value of the warrant.
Without knowing the formula value of the warrant, it is impossible to determine the premium over the formula value on October 1 two years from now.
The formula value of a warrant is typically based on a combination of factors including the underlying asset's price, the exercise price, time to expiration, volatility, and interest rates.
To calculate the premium over the formula value, you would need to know the formula value of the warrant on October 1 two years from now. If the warrant is trading at $27.36 per warrant and the formula value is $25 per warrant, then the premium over the formula value would be $2.36 per warrant. However, if the formula value is higher than $27.36 per warrant, then the warrant would be trading at a discount to its formula value.
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3. Effects of a government budget deficit
Consider a hypothetical open economy. The following table presents data on the relationship between various real interest rates and national saving,
domestic investment, and net capital outflow in this economy, where the currency is the U. S. Dollar. Assume that the economy is currently experiencing a balanced government budget.
The relationship between net capital outflow and net exports implies that the economy is experiencing a trade deficit.
What is a trade deficit?A trade deficit simply means a situation when the value of the import is more than the value of the export in the country.
In this case, the relationship between net capital outflow and net exports implies that the economy is experiencing a trade deficit.
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Which statement about a letter of complaint is true?
You should maintain a polite and business-like tone.
The true statement about a letter of complaint is that you should maintain a polite and business-like tone.
When writing a letter of complaint, it is crucial to maintain a polite and business-like tone. This means using formal language and addressing the recipient respectfully. It is important to avoid any offensive or aggressive language, as it can undermine the effectiveness of the complaint and may lead to a negative response.
A letter of complaint should focus on the specific issue or problem. Clearly state the details of the incident or situation that prompted the complaint. Provide any relevant evidence or documentation to support your claims. This helps to establish the credibility of your complaint and increases the chances of a satisfactory resolution.
In addition to outlining the problem, it is important to suggest a resolution or request appropriate action. This shows that you are seeking a fair and reasonable outcome. Be specific about what you would like to see happen, whether it is a refund, replacement, apology, or other form of resolution.
By maintaining a polite and business-like tone throughout the letter, you demonstrate professionalism and increase the likelihood of your complaint being taken seriously. It also helps to establish a constructive and respectful dialogue with the recipient, which can lead to a more positive outcome.
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GAWAIN 2
Panuto, Gamit ang Venn diagram, Thambing ang mga katangian ng balalawiting panudyo,
lugmang de gulong, hugtong, apalalaman, Teulat sa aimang bahagi ang pagkakatulad ng
dalawang karunungang hayang inihahambing,
Tulal Awiting
Papudyo
Tugmang de Galang
Pagkakatulad
Bulong
Palaisipan
Pagkakatulad
Explanation:
ANG TUGMANG DE GULONG AY ISANG TUMANG TULAANG TUGMANG DE GULONG AY ISANG TUMANG TULA꧁#CarryOnLearning꧂ANG TUGMANG DE GULONG AY ISANG TUMANG TULA꧁#CarryOnLearning꧂❀⊱─━━━━━━⊱༻●༺⊰━━━━━━─⊰❀For which of the following goods would you expect demand to be the most responsive to a rise in price?
a.spaghetti
b.electricity
c.hospital emergency room visits
dwater for a shower
The correct answer is b. electricity. Electricity is a good with relatively elastic demand, which means that demand is very responsive to a change in price.
This is because electricity is a necessity for most people, but there are many substitutes and alternatives available that can be used to reduce consumption. For example, people can conserve electricity by using energy-efficient appliances, turning off lights when not needed, and adjusting the thermostat. Additionally, consumers can switch to alternative sources of energy, such as solar or wind power, if the price of electricity becomes too high.
Spaghetti, water for a shower, and hospital emergency room visits are goods with relatively inelastic demand. This means that demand is not very responsive to a change in price. Spaghetti and water for a shower are necessities that people will continue to buy even if the price increases because there are few substitutes or alternatives available. Hospital emergency room visits are also relatively elastic demand because people will generally seek medical treatment regardless of the cost.
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What typically motivates entrepreneurs to improve goods and services or create new ones?
answer choices.
A. prestige.
B. production.
C. profit.
D. philanthropy.
Entrepreneurs are motivated by a desire to make a profit, either by improving goods and services or creating new ones.
So the correct option is C. Profit
This can be motivated by an ambition to be successful and to be seen as a leader in their field or industry. Profit is typically the main driver of innovation and improvements. Profit gives the entrepreneur the resources to grow and develop their business, as well as the ability to reinvest in the business, hire staff, and purchase resources.
Another motivation is philanthropy, or the desire to do good in the world. This can drive entrepreneurs to create new products or services, or to improve existing ones, in order to make the world a better place. Finally, entrepreneurs may also be motivated by prestige, or the recognition they get from others when they make improvements or introduce new ideas and products. Ultimately, entrepreneurs are driven by a combination of these motivations, each of which can be a powerful force in driving the business forward.
So the correct option is C.
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First and foremost, the video game industry is a business. It makes billions of dollars every year, and a large part of that money comes from M-rated games. Halo 3, one of those M-rated games, sold $170 million on its first day of release. Somehow, people expect to put a stop to that, just rid the industry of millions of dollars worth of high-quality adult games that are responsible for hundreds or thousands of jobs and are a viable alternative to movies or television aimed at the same audience. What type of argument does this passage utilize
Answer:
Appeal to logic
Explanation:
Appeal to logic is a type of argument that relies on presentation of facts to convince a target audience.
Logical appeal is made up of claim, evidence, and warrant.
In the given scenario the author claims the video game industry is a business that makes billions of dollars every year.
The evidence he presents is that a a large part of that money comes from M-rated games. For example Halo 3, one of those M-rated games, sold $170 million on its first day of release.
which causes most problems associated with computer security?
group of answer choices dishonest employee accidental errors-disgruntled employees natural disasters government spying
Among the given choices, the most common cause of problems associated with computer security is "accidental errors."
While all the options listed can potentially cause security issues, accidental errors are often the most common cause of computer security problems. Accidental errors can include mistakes made by employees, such as misconfigurations, mishandling of sensitive data, or falling victim to social engineering attacks like phishing.
Dishonest employees and disgruntled employees can pose security risks as well, but they are typically less common than accidental errors. These individuals may intentionally engage in malicious activities or unauthorized access to systems.
Natural disasters can also lead to computer security problems by causing physical damage to infrastructure or disrupting network connectivity. However, they are relatively less frequent compared to accidental errors.
Government spying, while a concern in certain contexts, is not typically a primary cause of problems associated with computer security for most organizations.
Overall, accidental errors, whether due to lack of awareness, inadequate training, or simple mistakes, tend to be the most prevalent cause of computer security issues. Organizations should focus on educating employees, implementing robust security measures, and regularly reviewing and updating security protocols to mitigate the risks associated with accidental errors.
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How can an increase in exports help in the economic development of your country?
A nation grows through exports. They gain prominence in diplomatic and foreign policy as a component of trading.
Countries export products and services where they have a competitive advantage or a comparative advantage. Exports boost revenues, employment, foreign currency reserves, and liquidity, so governments encourage them.
How can exports contribute to an economy's growth?The expansion of imports, technological advancement, and investment all result from exports, which contribute to economic expansion. By encouraging the adoption of technology and raising the level of imports used as inputs for export-oriented production, economic expansion can, in turn, facilitate further export expansion.
What advantages does exporting bring to the economy?Exporting can bring in money for any size business. When compared to businesses that do not export, employees earn more, sales rise at a faster rate, and more jobs are created. Advantage over rivals. The high quality of its products and services, customer service, and sound business practices have earned the United States a worldwide reputation.
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What type of contract is a hire purchase agreement?
7. Choose if the product is a Good, a Service, or Both.
buying a bicycle
getting a back massage
getting the plumbing fixed in your house
use of a smartphone app
buying a new AC unit for your house
buying a hamburger
getting your taxes completed by a tax firm
Answer:
1 buying a bicycle it's a good
2 getting a back message it's a service
3 getting the plumbing fixed in your house it's a service
4 use of a smartphone app it's a service
5 buying a new Ac unit for your house it's a service
6 buying a hamburger it's a good
7 getting your taxes completed by a tax firm it's both
I need to borrow $20 to buy a book. My friend Mary offers to lend me $20, with the payback price increasing by $1 for each day it takes my to repay the loan. My friend Joe offers to lend me $20 as well, but with the payback price increasing by 4% for every day it takes me to repay the loan. Which is the better deal? Does the answer depend on the number of days it will take me to repay the loan? Show your work step-by-step and explain your reasoning.
The best deal for me depends on how long it will take me to repay the loan. If I can repay the loan in a short period of time, then I should go with Mary's deal. If I will need to repay the loan in a longer period of time, then I should go with Joe's deal.
Here is the step-by-step calculation of the two deals:
** Mary's deal:
The payback price increases by $1 for each day it takes to repay the loan.
So, if I repay the loan in 1 day, the payback price will be $20 + $1 = $21.
If I repay the loan in 2 days, the payback price will be $20 + $2 = $22.
And so on.
** Joe's deal:
The payback price increases by 4% for every day it takes to repay the loan.
So, if I repay the loan in 1 day, the payback price will be $20 * 1.04 = $20.80.
If I repay the loan in 2 days, the payback price will be $20 * 1.04^2 = $21.64.
And so on.
** Which deal is better?
The answer depends on the number of days it will take me to repay the loan.
If I repay the loan in a short period of time, then Mary's deal is better. This is because the payback price increases by a fixed amount each day, so the total payback price will be lower.
However, if I repay the loan in a longer period of time, then Joe's deal is better. This is because the payback price increases by a percentage each day, so the total payback price will be higher.
** Does the answer depend on the number of days it will take me to repay the loan?
Yes, the answer depends on the number of days it will take me to repay the loan. If I repay the loan in a short period of time, then Mary's deal is better. However, if I repay the loan in a longer period of time, then Joe's deal is better.
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PLEASE HELP QUICKLY: (FIRST ANSWER GETS BRAINLIEST) 40 POINTS
Every monetary decision we make involves a level of choice, usually of one thing over another. What is the name for this financial trade-off?
A. personal risks
B. inflation
C.opportunity cost
Answer:
C
Explanation:
Im about 92% sure it is C
Answer:
C!
Explanation:
I took the test :)
4. If your checking account's balance is
$3,678.89 and you withdraw $1,514, what
is the remaining balance?
A $2,164.89
B $5,192.89
C$2,614.89
D $3,678.89
(Step by step ) please