Fatima works in a bakery and earns $120 per week. Fatima’s grandfather has given her $5,000. Fatima is going to use this money to start her own business. She is going to make cakes for special occasions such as birthdays, weddings, and religious
festivals.
1. Give an example for each of the four factors of production Fatima will use in her new business.
2. What is the ‘opportunity cost’ to Fatima of her decision to start her own business?
3. Is Fatima’s business meeting consumer ‘needs’ or consumer ‘wants’? Justify your answer.

Answers

Answer 1

1). The four factors that would be involved in Fatima's bakery business would be:

Land or the place where she would prepare and pack the cakes. Labor who would be involved in the production of the cakes. Capital that would be invested to incur the costs of the production. Entrepreneurship is the 'art of employing innovation and risk-taking in the business for making profits.'

2). The opportunity cost of Fatima's decision to run her own bakery business would be her weekly earning of $120 per week as it is the cost of the most valuable forgone opportunity.

3). Fatima's business would assist the customers in meeting their 'wants' as she assists them in fulfilling their special and personalized demands for cakes for their various occasions like weddings, festivals, or birthdays and not for regular meals.

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Related Questions

discuss how the problems of what, how and for whom exist​

Answers

What does this mean I’m so confused

15. Which one of the following statements is true? A. The maintenance margin is the amount of money you post with your broker when you buy or sell a futures contract. B. If the value of the margin account falls below the maintenance-margin requirement, the holder of the contract will receive a margin call. C. A margin deposit can only be met with cash. D. All futures contracts require the same margin deposit. E. The maintenance margin is set by the producer of the underlying asset.

Answers

Answer:

b because it kinds of relate 2 agreeing 2 buy or sell a pacific amount of sum

Explanation:

B- The value if it falls below the maintenance-margin requirement, the holder of the margin receives a margin call and ultimately becomes liable to pay such sum to proceed further.

The margin trade funding is a system used by the discount brokers to facilitate its clients to trade with a gradually less amount of funds in the balance with the broker.

The client however is required to pay certain fees to avail such facilities offered by the discount broker on the trade of futures and options in the stock market.

But the statement that securities investments are subject to market risks and the money can be zeroed essentially so trades are only advisable to be undertaken by the trader in future securities.

When the margin of account holder falls below the allotted margin i.e., it becomes negative then in such cases the trader is liable to bear the losses realized due to such trades.

Hence, the correct option is B that the trader will be liable to receive a margin call and pay any such dues arising out of it.

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Private goods are not rival in consumption, but excludable. rival in consumption and excludable. rival in consumption, but not excludable. not rival in consumption and not excludable

Answers

Answer:

private goods—excludable and rival in consumption.

Explanation:

1) Private goods = excludable + rival in consumption (wheat/phone/parking space)

2) Public goods = non excludable + non rival in consumption (public sewer system/national defence/Scientific research.)

3) Common resources, non excludable + but rival in consumption (clean water in a river/clean air/fish in the ocean)

4) Club goods, excludable + but non rival in consumption (movies on Netflix/cinemas)

identify business equipment or resources required to complete task under direct instruction?​

Answers

Answer:

Explanation:

Estimate quantities and resources correctly to.

The job _______ results in two written statements: one that specifies the responsibilities, duties and working conditions of the job, and the other setting forth the minimal education and skills required to do the job. specification description analysis assessment

Answers

Answer:

The word "Analysis" would most likely fit the statement.

Explanation:

The job analysis results in two written statements: one that specifies the responsibilities, duties, and working conditions of the job, and the other setting forth the minimal education and skills required to do the job.

ANSWER NEEDED ASAP MULTIPLE CHOICE
What's the difference between the federal deficit and the national debt?
(A) Th federal deficit is the amount of money owed to the government by individual taxpayers, and the national debt is the amount of money owed to the government by other countries.
(B) The federal deficit refers to the gap between what the government earns and spends in a year, while the national debt is the total cumulative amount of money the government owes.
(C) The federal deficit refers to a situation in which the government brings in more than it spends, and the national debt refers to a situation in which the government spends more than is earns.
(D) The federal deficit is the total amount of money the government owes, and the national debt is the amount the country overspent in the last fiscal year.

Answers

B-The federal deficit tells you how much more money the government spent in a single year than it received in revenue. The national debt, on the other hand, is the cumulative amount of money that the federal government has borrowed to make up for all those deficits in previous years. Source: https://www.nytimes.com/2017/01/11/insider/whats-the-difference-between-the-national-debt-and-the-federal-deficit.amp.html

Which of the following is NOT a function of the Federal Reserve?

To promote stability of the financial system.

To collect taxes from taxpayers.

To conduct monetary policy.

To provide banking services to commercial banks.

To provide banking services to the federal government.

Answers

Answer:

To collect taxes from taxpayers

four reasons why Corona virus could be harmful to economic growth??​

Answers

Answer:

Employees have to be let go because social distancing is a thing

Businesses are not getting enough customers because of quarantine, which leads to them shutting down

Factories that supply stores are shut down to prevent spread in factory lines

For those with computer jobs, working from home does not give an employee as much freedom with printing or scanning as it does at work, which slows down the completion of assignments and lowering the business`s dependability

Your business has conducted four market research surveys in the past year . The cost per survey is as follows : survey 1: $900 survey survey 2 : 1,200 survey 3: 1,500 survey 4: 1,700. What is the average cost of the market research surveys?

Answers

Answer:

$1325

Explanation:

[tex](900 + 1200 + 1500 + 1700) \div 4[/tex]

[tex] = 5300 \div 4[/tex]

[tex] = 1325[/tex]

como hacen las siclas para que uno no se caiga

Answers

con materials duro que aguantan bastante peso.

Answer:

lo que dijo thay

Explanation:

Briefly explain how the government uses taxation as a redistribution method

Answers

Answer:

The purpose of this is to increase economic stability.

What does the concept of scarcity explain? Choose three answers.

why a product could lose significant value over time.
why people continue to purchase different products.
why consumers are willing to pay high prices for items.
why decisions must be made on how to use resources
why resources can be both renewable and nonrenewable.
why a single resource has more value than another resource.

Answers

'Scarcity' is defined as the economic concept that refers to the situation of 'having finite resources and infinite demands.'

The concept of 'Scarcity' explains:

C). why consumers are willing to pay high prices for items.

D). why decisions must be made on how to use resources

F). why a single resource has more value than another resource.

The term 'scarcity' elaborates the causes of all the above-stated problems. Since the demand for produced goods, as well as, services is endless and the resources available to meet this demand are limited, there is an imbalance between the demand and supply. This leads to the hike in prices of the available goods so that one could afford to pay higher will take the good. This makes it important for deciding upon the efficient utilization of resources so that every individual's demand can be satisfied up to some extent.The single resources cost higher due to this reason only as it develops a competition among the buyers.

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Answer:

C, D, F

Explanation:

The following is the trial balance of kencho sales located in Tabs, Thimphu as on 31st December 2019.You are required to prepare financial statements as at 31st December 2019.​

Answers

Not sure but good luck

wat is the definition of economics​

Answers

Economics is a social science concerned with the production, distribution, and consumption of goods and services. ... Economics can generally be broken down into macroeconomics, which concentrates on the behavior of the economy as a whole, and microeconomics, which focuses on individual people and businesses.
the branch of knowledge concerned with the production, consumption, and transfer of wealth. The condition of a region or group as regards material prosperity.

How the business can use creative thinking to solve business problems ​

Answers

Explanation:

Creative thinking helps you to see opportunities in the marketplace or come up with a unique solution to a problem—and isn’t this the cornerstone of any business?

Creativity is key to innovation. When issues come up, you’ll be able to think of ways over, under, or through the roadblocks.

Creativity stimulates the brain and helps us to wake up and pay attention. Noticing more of what’s around us aids in developing novel approaches to help your business stand out.

Creative thinking helps you keep your business presence fresh. You’ll be able to constantly reinvent your business in order to stay in your customers’ awareness.

Creativity helps you shift your perception so you can better understand your customers’ point of view.

Creativity gives you a higher tolerance for risk—you’re used to working through fear of failure.

Creativity improves your leadership skills. Being an effective leader means being creative in your approach and problem-solving. When you have the capacity to let go of the outcome and be open to out-of-the-box thinking, you free your business team up for generating new ideas.

Creativity helps you to broaden your vision of what it means to be successful in your  business—what it can offer to the world.

Creativity strengthens your resilience. When those inevitable stressful periods come up, you’re able to bounce back faster instead of getting derailed.

Creativity invites flow and feels good, and when you feel good, you attract your ideal customers and clients.

Can you creatively think of even more ways that creativity can help your business?

Answerrsss please!!!!!

Answers

Answer:

A- Lender

B- Plan

C- closing Balance

3

A- False

B- True

C- True

D- False

Identify an accurate statement about groups of customers with similar need sets. Multiple choice question. They always have identical demographics. They belong to a single, homogeneous demographic group. They can have sharply different demographics. They never have varied demographic features.

Answers

When there is a group of customers that have the same requirement sets so the following should be the accurate statement.

The statement "It could have clear various demographics" is correct.

The following information related to the customer is:

It is an individual or the business that buys the goods or services of the company. Without customers, the company could not survive out, neither company could able to make a profit. Now if there are various customers and all have the same kind of needs so it means that there are different demographics.

Therefore all other options should not be considered.

Thus we can conclude that The statement "It could have clear various demographics" is correct.

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A trust established by your will that becomes effective upon your death is called a(n) ____________ trust.
testamentary
living
irrevocable
revocable

Answers

Answer:

testamentary trust is the answer.

Answer: hello, your answer would be TESTAMENTARY

Explanation:

i just finished the test and got it right

1) A small firm employs nine workers. The wages it pays to these workers are $200, $220, $280, $300, $310, 320, $330, $350 and $390 a week. What is the average wage paid?

Answers

solution :

sum of dollar =200+220+280+300+310+320+330+

350+390

Now,

average =total sum of all dollar

total sum of worker

=2370

9

=263.333#

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Robert wants to buy a digital piano at a yard sale. He makes a scale drawing of his living room. He uses a scale of 1cm in the drawing to 6 inches in the actual room. The width of the digital piano is 54 inches will it fit along the wal. Next to the bookshelf ? Write a proof. Given x - 2 = 3(x - 4) Prove x = 5 divide rs. 560/-among A,B and C in such a way that A and B are in 2:3 while B and C are in 4:5plz help me with this answer A tall pea plant (Tt) is crossbred with a short pea plant (tt). The following Punnett square shows the separated alleles for two pea plants.Which of the following shows the correct match of the box numbers and the genotype of the offspring? A. 1 = Tt; 2 = tt; 3 = Tt; 4 = tt B. 1 = Tt; 2 = Tt; 3 = Tt; 4 = TtC.1 = Tt; 2 = Tt; 3 = tt; 4 = tt D. 1 = Tt; 2 = tt; 3 = tt; 4 = tt Find the perimeter, in units, of the polygon with the given vertices. Plot the points.Round to the nearest tenth.5. A(8,0), B(-3, 2), C(10, 2)6. A(4, -3), B(7, 10), C(-8, 2)7. A(-5,5), B(5, -5), C(-5, -5)8. A(4, -3), B(7,10), C(-8, 2), D(-1, -5)9. A(-4, -8), B(4, -8), C(4, 0), D(0, 3), E(-4, 0) What kinds of questions cannot be answered by chemistry 13.The statements below are from three of the first amendments to the U.S.Constitution."Congress shall make no law... prohibiting ... the right of the people ... topetition the government for a redress of grievances."- First Amendment"[T]he right of the people to keep and bear arms shall not be infringed"-Second Amendment"[No] cruel and unusual punishments (shall be] inflicted-Eighth AmendmentWhich earlier document contained similar righty pls answer my question plz state 5 limitations to the rule of law ) A club on campus is selling Entertainment coupon books for $30 each. It costs the team $10 tobuy each book. The club has 500 books. The team's profit P(n) is given by the followingfunction where n represents the number of books sold.p(n) = 30n - 5000a. What does the 30n represent?b. What does the 5000 represent?c. How much profit would they make if they sold 400 books? Therefore you have no excuse, everyone of you who passes judgment, for in that which you judge another, you condemn yourself; for you who judge practice the same things. how the consumers in one level of the pyramid obtain energy from the organisms at the previous level of the pyramid Justify every social evils creates social problems Which of these is an example of direct characterization? Mangoes cost $4 each and nectarines cost $2 each. Dominic buys m mangoes and n nectarines for $32.Fill in the missing values to write an equation for the information given. how can information technology transform the way business processes in an organization Trout (fish) raised in cold water weigh more than trout raised in warmwator. What is the independent variable and the dependent variable O Water temperatureO Weight of troutO Amount of food If James wants to get involved with a state election, which campaign should he volunteer for? A. a campaign for a candidate for president B. a campaign for a candidate for governor C. a campaign for a candidate for mayor D. a campaign for a candidate for sheriffcorrect answer is a campaign for a candidate for governor 10. The translation (x, y) = (x + 10, y-6) is applied to ABC to create a new image A'B'C'. GraphA'B'C' on the coordinate plane. 7+ ? 5+9=66 what is the answer