Why does scarcity force economic choices?

Kansas Company acquired a building valued at $210,000 for property tax purposes in exchange for 12,000 shares of its $5 par common stock. The stock is widely traded and selling for $15 per share.

An offer to enter into a contract can be terminated by

David and his best friend are in a car accident with another vehicle and it is david's fault. david and his friend are both injured in the accident.

A given budget constraint has only one indifference curve that is tangent for a specific set of prices. However, there may be numerous indifference curves that intersect the same budget constraint.

According to the law of supply: a. there is a direct relationship between price and the quantity supplied. b. there is an inverse relationship between price and the quantity supplied. c.

Repbulic LLC exchanged land used in its business for some new land to be used in the business. Republic LLC originally purchased the land it exchanged for $37,500. The new land had a fair market value of $39,750.

Jacob chose to spend the afternoon swimming rather than going to the movies any value given up from not going to the movies is the

In a survey of consumers aged 12 and older, respondents were asked how many cell phones were in use by the household. (no two respondents were from the same household.

As a manager of a department store, you must deal with a variety of business transactions. Place the letter of each of the following transactions next to the effect it has on the accounting equation. a.

A new opportunity arises for Quixote Metal Supply just before the holidays. A Request for Proposals (RFP) is distributed by the government seeking metal suppliers to fill a vacancy in the supply chain to build x-ray machines for airports across the