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When an item becomes scarce how is the cost affected?
the price goes up
How do scarce resources influence you personally?
Black Friday is a perfect example of how people react to scarce resources. They become overtly violent, protective of their space, and will hoard the smallest item.
What effect does advanced technology usually have on the cost of each item produced by a business?
The cost of each item decreases.
Why are things scarce?
Things are considered scarce because their availability is limited relative to the demand for them. Scarcity arises from finite resources, production constraints, or high consumer demand, leading to competition among individuals or groups for access. Economic principles dictate that when an item is scarce, its value often increases, influencing choices and behaviors in consumption and production. Ultimately, scarcity drives innovation and efficiency as societies seek to allocate resources effectively.
Is replacement cost the same as insurable value?
No, insureable value or 'stated amount' is the MAXIMUM that will be paid for that item. replacement cost is the amount it will cost to actually replace the item.
When an item becomes scarce how is the cost affected?
the price goes up
When an item becomes scarce how is the cost effected?
goes up
What happens to the cost when an item becomes scarce?
When an item becomes scarce, its cost tends to increase. This is due to the basic economic principle of supply and demand - as supply decreases and demand remains constant or increases, prices go up. This increase in cost is typically driven by market forces seeking to balance supply and demand.
In economics what clue tells you if an item is more scarce than another item Give an example?
i don't know the answer that's too bad
How do scarce resources influence you personally?
Black Friday is a perfect example of how people react to scarce resources. They become overtly violent, protective of their space, and will hoard the smallest item.
An item cost 20.00 with 25 percent off what is the cost of the item?
16
How much will your item be it it cost 200.00 and you get 15 percent off?
The item will cost 170.00
What would the item cost if it were on sale for25 percent off?
Multiply the cost by 0.75 and that is the sale cost of the item.
How is society affected by the element argon?
The element argon has affected society because it has created things such as electric lightbulbs and floresant tubes. Lightbulbs are the most commonly used item that is made with argon.
What is considered the net cost?
The net cost of an item is the cost of the item after any discounts or returns and before any tax
How do you find the total cost of a item with tax?
First you calculate the amount of the tax on the item. Then you add together the original cost of the item and the tax.
In performing a vertical analysis what is the base for cost of goods sold?
The base for any item in a vertical analysis is Net Sales. This is because you are dividing the item, in this case the cost of goods sold, by the net sales to figure the percentage.
