Every society faces trade-offs because we live in a world of scarcity. suppose a student-athlete has the opportunity to earn $1,000,000 next year playing for a minor league baseball team, $300,000 next year playing for a european professional football team, or $0 returning to college for another year. the opportunity cost of the student-athlete returning to college next year

Acompany set up a petty cash fund with $800. the disbursements are as follows: office supplies $300 shipping $50 postage $30 delivery expense $350 to create the fund, which account should be credited? a. postage b. cash at bank c. supplies d. petty cash

Need true or false 1 2 3 4 5 6 7 8

Brian has just finished college. he wants to set up a small business to make and sell fireworks. he registers his company and acquires a license from the government. he finds that most of his competitors are selling fireworks at an extremely low price. he would like to make more money, so he decides to innovate and develop better fireworks. he sells his fireworks at a higher price, and they are a huge hit with the customers. after a few years, he earns enough profit to set up a bigger fireworks factory that complies with the government’s health and safety regulations. he even starts exporting fireworks overseas. which type of economy does this scenario describe?