In Economic jargon, scarcity is not a problem for wealthy individuals. exists because human wants are unlimited while resources needed to satisfy wants are limited. exists when quantity demanded of a good exceeds its quantity supplied. can be overcome by more equal distribution of income. Is also called the Fundamental Economic Problem refers to the uniqueness of "rare" or one-of-a-kind goods such as diamonds or works of art. arises from the Fundamental Economic Assumptions. requires us to chose what we will have and what we forgo having

Which of the following best explains why online retail companies have an advantage over regular stores? a. their employees make less money because they mostly perform unskilled tasks. b. they are able to keep distribution costs low by negotiating deals with shipping companies. c. their transactions require expensive state-of-the-art technological devices. d. they have a larger number of potential customers because people anywhere can buy from them.

The huntington boys and girls club is conducting a fundraiser by selling chili dinners to go. the price is $7 for an adult meal and $4 for a child’s meal. write a program that accepts the number of adult meals ordered and then children's meals ordered. display the total money collected for adult meals, children’s meals, and all meals.

Jimmy's delicatessen sells large tins of tom tucker's toffee. the deli uses a periodic review system, checking inventory levels every 88 days, at which time an order is placed for more tins. order lead time is 22 days. daily demand is a constant 1515 tins, so average demand during the reorder period and order lead time (1010 days) is 150150 tins. draw a sawtooth diagram. assume that the beginning inventory level is equal to the restocking level and the desired service level is 99.9%. what is the safety stock level? (hint: look at the formula for calculating restocking level.) what is the average inventory level? the safety stock level is average inventory level is __chart: time (10,20,30), tins (0,150) lines touching both axisthe safety stock level is 0 tinsthe average inventory level is 75 tins