Scarcity is to not have enough resources to fullfil a societies wants and needs. The 3 basic questions a society must ask inorder to deal with this are. what to produce? how to produce? and, for whom to produce? whoever answers those questions is how I societies economic system is decided. Though to answer your question in short, the basic goal of a society is to deal with scarcity, they achieve this by producing as much resources as possible with the little resources available.
Answer:
OPTION D: Direct Labor and Direct Material
Explanation:
Prime cost of a product is defined as the direct costs of producing a product including direct material costs and direct labor costs. Any other manufacturing overheads, indirect expenses and indirect materials/labor cost are not included in the calculation of PRIME COSTS
.
Prime Cost = Direct Material Cost + Direct Labor Cost
Therefore, OPTION D: direct Labor and direct materials is the correct definition of prime costs.
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The answer is Perishability. It means that a firm cannot store its service. Service Perishability is used in marketing to describe the way in which service cannot stored in the future. The services in Perishability cannot be saved, resold, stored and return once they have been used.
Answer:
$115 million
Explanation:
Calculation for the present value of the business.
Using this formula
Present value=Free cash flow+Horizon value
Where,
Free cash flow =$15 million
Horizon value=$100 million
Let plug in the formula
Present value=$15 million +$100 million
Present value=$115 million
Therefore the Present value of the business will be $115 million