The most basic concept in economics is

a. limited resources.

b. scarcity.

c. differences in​ people's tastes and preferences.

d. unlimited needs.

The discount rate is the interest rate the Fed charges on loans of reserves to banks. The federal funds rate is the interest rate banks charge for overnight loans of reserves to other banks.

Which of the following is a correct statement of the accounting equation in economic terms? A. Economic resources = creditor financing - owner financingB. Economic resources = operating assets + financial assetsC.

The Unearned Revenue account of Rory Incorporated began 2018 with a normal balance of $ 4 comma 000 and ended 2018 with a normal balance of $ 10 comma 000.

Coronado University sells 5,900 season basketball tickets at $210 each for its 12-game home schedule. (a) Give the entry to record the sale of the season tickets (b) Give the entry to record the revenue recognized after playing the first home game.

9) Given the following information, compute the total number of units for the period: Direct labor hours 12,000 Direct labor cost $ 2.

Which of the following errors, each considered individually, would cause the trial balance to be out of balance? A payment of $148 to a creditor was posted as a debit to Accounts Payable and a debit of $148 to Cash.

On January 1, Year 1, Phillips Company made a basket purchase including land, a building and equipment for $895,000. The appraised values of the assets are $64,000 for the land, $920,000 for the building and $176,000 for equipment.

Terri davis is planning to buy a new car. While on the internet she learned that the car has a base price of $16,007, options that total $2,334, and a $500 destination charge.

gOn July 1, Twin Pines Co., a water distiller, acquired new bottling equipment with a list price (fair market value) of $220,000.

3. Definition of economic costs Felix lives in Miami and runs a business that sells boats. In an average year, he receives $851,000 from selling boats.