The deposits in transit for December 31, current year, amount to $28,000.
The deposits in transit for December 31, current year, can be computed by comparing the deposits on the bank statement to the deposits listed on the cash ledger account and the list of deposits in transit at the end of November.
To calculate the deposits in transit, we need to consider the deposits that were recorded in the cash ledger account but have not yet appeared on the bank statement as of December 31.
Let's assume that the deposits listed on the bank statement for December 31 are $20,000.
We subtract the deposits in transit on November 30 ($17,000) from the correct cash balance at November 30 ($64,100). This gives us the adjusted cash balance at November 30, which is $47,100 ($64,100 - $17,000).
Next, we add the outstanding checks on November 30 ($900) to the adjusted cash balance at November 30. This gives us the adjusted cash balance after considering outstanding checks, which is $48,000 ($47,100 + $900).
Finally, we subtract the adjusted cash balance after considering outstanding checks from the deposits listed on the bank statement for December 31. This gives us the deposits in transit for December 31, which is $28,000 ($20,000 - $48,000).
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Rudolph has worked tirelessly for his recent promotion. His efforts demonstrate he values
O courage
o achievement
O compassion
O relationships
Answer:
Correct answer is achievement I just did this quiz.
Explanation:
110 PART 2 PORTER'S APPROACH TO INDUSTRY ANALYSIS Michael Porter, an authority on competitive strategy, contends that corporation is mes con cemed with the intensity of competition within its incestry
Michael Porter's approach to industry analysis is based on his ive Forces Fmodel. This model is used to determine the intensity of competition within an industry and to identify the key factors that influence a corporation's ability to compete in the market.
The five forces include:
1. Threat of new entrants: This refers to the ease with which new competitors can enter the market. If there are low barriers to entry, the threat of new entrants is high, and competition within the industry is likely to be intense.
2. Bargaining power of suppliers: This refers to the ability of suppliers to influence the prices of the goods and services they provide. If suppliers have a high degree of bargaining power, they can exert more control over the prices of their products, which can impact the profitability of the corporations within the industry.
3. Bargaining power of buyers: This refers to the ability of buyers to influence the prices of the goods and services they purchase. If buyers have a high degree of bargaining power, they can exert more control over the prices of the products they buy, which can impact the profitability of the corporations within the industry.
4. Threat of substitute products: This refers to the availability of products or services that can be used in place of those offered by the corporations within the industry. If there are many substitute products available, the threat of substitution is high, and competition within the industry is likely to be intense.
5. Rivalry among existing competitors: This refers to the level of competition among the corporations within the industry. If there is a high degree of rivalry, competition within the industry is likely to be intense.
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Your available credit is $1,000, but you keep your debt to $200.00. How does this help you build a positive credit history?
Keeping a low debt-to-credit ratio can demonstrate responsible credit usage, which is a key factor in building a positive credit history.
Building a good credit history requires maintaining a low debt-to-credit ratio.Your debt-to-credit ratio measures how much of your available credit you are currently using.A lower debt-to-credit ratio implies prudent credit use because you aren't using credit excessively and can properly manage credit.Keep this percentage as low as you can because creditors and lenders use it to assess your credit worthiness. Maintaining a low debt to credit ratio may make you appear less dangerous to lenders and increase your chances of getting future loan applications accepted.Another important element in establishing a solid credit history is having a low debt-to-credit ratio, which can enhance your credit score.
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. In one to two sentences, explain how the money for a negative tax for low-income earners could be redistributed from high-income earners.
A negative tax for low-income earners could be funded by redistributing money from high-income earners through a progressive tax system.
The money for a negative tax for low-income earners could be redistributed from high-income earners through a progressive tax system where individuals with higher incomes pay a higher percentage of their income in taxes, which can be used to fund programs like the negative income tax. This approach aims to reduce income inequality by providing support to low-income earners while ensuring that those with higher incomes contribute proportionally more to society's overall financial needs.
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Using a loan could help with the purchase of which of the
following?
Airline tickets to your dream vacation
A dream wedding
A house
A new television
Answer:
A house
Explanation:
Answer:
A house
Explanation:
Sun Shield Corporation has the following data available on December 31 for the year just ended:
A 45.22%
B. 17.00%
C. 20.20%
D. 26.00%.
The data provided shows the percentage of each major product sold by Sun Shield Corporation. Sun Shield Corporation is in the business of manufacturing and selling sunscreens and tanning lotions.
The percentage of products sold is given as follows: A- 45.22%, B- 17.00%, C- 20.20%, and D- 26.00%.The given data shows that product A has been sold the most among all the four products sold by Sun Shield Corporation.
The next two most sold products are D and C, with percentages 26.00% and 20.20%, respectively. And the least sold product is B with only 17.00% sales in the same period.The data can be useful in various ways.
Firstly, the company can use it to decide on which products are to be produced more based on their demand and sales percentage. The data can also be useful for future decision-making, for example, whether to invest more in product A, given that it has sold the most, or B, given that it has sold the least.
The data can also be used to predict future sales and decide on the company's product pricing strategy.A company can also use this data to determine if their marketing strategies are working effectively and whether more resources should be devoted to the least performing product in order to increase its sales.
Therefore, the company should carefully analyze this data and use it for future strategic decision-making.
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_____ is a career typically requiring a certificate from a vocational school program.
Actor
Lawyer
Sales clerk
Automotive mechanic
5) Si tuvieras que hacer un presupuesto de Ingresos y uno de Gastos ¿Cuál harías primero y que te sirva de base para hacer el otro? Explica tu respuesta
Answer:
Si tuviese que hacer un presupuesto de ingresos y uno de gastos, primero haría el de ingresos. Así, podría tener en cuenta la cantidad de dinero que mes a mes ingresa en mi patrimonio y de esta manera organizar mis gastos teniendo en cuenta no gastar mas dinero del que gano mensualmente.
Si, en cambio, organizara mis gastos antes que mis ingresos, me vería limitado posteriormente a realizar algunos gastos dado que no habría contemplado mi liquidez financiera mensual.
You are the wage earner in a typical family with 80000 gross annual income. use the easy method to determine how much insurance you should carry
The easy method to determine how much insurance you should carry as a wage earner in a typical family with an $80,000 gross annual income is to use the rule of thumb that suggests carrying at least 10 times your income in life insurance coverage.
The rule of thumb suggests that you should carry life insurance coverage equal to at least ten times your annual income. Therefore, as a wage earner in a typical family with an $80,000 gross annual income, you should carry life insurance coverage worth at least $800,000 to provide financial security to your family in case of an unfortunate event such as death or disability. Therefore, it is recommended to carry life insurance coverage worth at least ten times your annual income.
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what are the various careers within the advanced manufacturing sector?
Welder, Technician in computer-aided design (CAD), engineering technician in mechatronics, Fabricator, technician in electronics, Machinist, dental assistant, Engineering mechanic.
Welders combine different metals, such as brass, stainless steel, or aluminium, with heat to make or repair metal objects. Welders may employ a range of unique welding tools and apparatus, depending on the metals they are joining and cutting. In a general sense, a welder is anyone who uses welding equipment, whether they are professionals or amateurs, perhaps especially those who use it frequently. A welder is a tradesperson with a focus on joining materials in a more restricted meaning. The main responsibility of a welder is to join metal components. Metal things may also be able to have holes fixed by them. In addition to pipelines, bridges, power plants, buildings, refineries, autos, and ships, they also work on the metal parts of other constructions.
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According to the data in Exhibit 18-3, the value added by the grocer is
Value Added Production Stage Sales Value (S) Farmer sells wheat .50 Miller sells wheat .75 Baker sells bread (wholesale) 1.25 Grocer sells bread (retail) 2.0 A. $1.25. B. $4.50. C. $.75. D. $2.00. E. $.50.
Based on the data in Exhibit 18-3, the value added by the grocer is D. $2.00.
Value added refers to the increase in the value of a product or service as a result of a particular stage of production or distribution. In this case, we can see that the farmer sells wheat for $.50 per unit, and the miller sells it for $.75 per unit. The baker then sells bread at a wholesale price of $1.25 per unit, which includes the value added by both the farmer and the miller.
Finally, the grocer sells the bread at a retail price of $2.00 per unit. This retail price includes the value added by the farmer, miller, and baker, as well as the additional value added by the grocer in terms of providing a convenient location for consumers to purchase the bread and offering customer service.
Therefore, the value added by the grocer is $2.00 per unit of bread sold. It is important to note that value-added can vary depending on the product and the stage of production or distribution. Understanding the concept of value added is crucial for businesses to determine their pricing strategies and to identify opportunities to add value for customers. Therefore, the correct option is D.
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As an entrepreneur, jill spends the majority of her time on the more 'glamorous' activities of running a business rather than the administrative
duties.
OA.
True
OB.
False
It is false that an enterprenuer, jill will spends the majority of her time on the more 'glamorous' activities of running a business rather than the administrative duties.
Who is an enterprenuer?An entrepreneur is an individual who Identifies a gap or problem and creates a new business around it.
The persons bears most of the risks attached to the business and is more dedicated to the activities, planning and administrative work of the business.
Therefore, It is false that an enterprenuer, jill will spends the majority of her time on the more 'glamorous' activities of running a business rather than the administrative duties.
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identify two other types of business organisation jameel lost his job
Answer:
When Jameel lost his job with a fruit and vegetable shop that closed downhe decided to open his own store. He had good contacts with suppliers.
They said they would give him one month’s credit before he paid for
supplies. Jameel had $5000 in savings to invest in the shop. He thought thiswould be sufficient to start the business. He is an independent man - he
never liked taking the manager’s orders in the food shop! He wanted to
operate his new business as a sole trader
Explanation: hope this helps if not i am sorry
Franchises and partnerships are two other types of business organisations jameel lost his job.
Franchises and partnerships are two distinct business models that involve collaboration between different entities. Franchising is a business arrangement where a franchisee licenses the right to use a well-established brand, business model, and support from a franchisor in exchange for fees and royalties.
This allows the franchisee to operate under an established brand with proven systems. Partnerships, on the other hand, involve two or more individuals or companies pooling their resources and expertise to run a business together, sharing profits and liabilities. Both models offer unique advantages, such as brand recognition in franchising and shared responsibilities in partnerships.
Therefore, Franchises and partnerships are two other types of business organisations jameel lost his job.
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Probably the full question is:
When Jameel lost his job with a fruit and vegetable shop that closed down he decided to open his own store. He had good contacts with suppliers. They said they would give him one month’s credit before he paid for supplies. Jameel had $5000 in savings to invest in the shop. He thought this would be sufficient to start the business. He is an independent man - he never liked taking the manager’s orders in the food shop! He wanted to operate his new business as a sole trader.
Identify two other types of business organisations jameel lost his job.
This is a graded discussion: 15 points possible Unit 2 Discussion # 1: Income from continuing operations and discontinued operations A
∘
Discuss and explain how the disposal of a component of the business should be disclosed in the income statement.
When a business disposes of a component, it must disclose it in the income statement. Income from continuing operations and discontinued operations are discussed and explained as follows:
Disclosures in the income statement:
The company must reveal that it has discontinued operations if it no longer runs the segment of the company that it had previously disclosed in its financial statements.
The operations have to be shut down or sold. The disposal of discontinued operations must be included in the income statement when calculating net income because it is a part of the company's operating activities.
In the income statement, discontinued operations must be reported separately from continuing operations to provide a clearer picture of the company's financial position.
This is a graded discussion: 15 points possible
Unit 2 Discussion # 1: Income from continuing operations and discontinued operations.
A business must reveal the details of its discontinued operations for the current fiscal year and any previous years in which discontinued operations occurred. The statement should explain the cause for disposal of the discontinued operations.
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Economic growth is an increase in a nation’s output of goods and services over time.a. Trueb. False
Economic growth is an increase in a nation's output of goods and services over time.
The above statement is true.
Economic expansion is frequently possible without investing in new resources.
Economic growth is defined as a rise in the size of a country's economy over time. The entire output of goods and services in an economy, known as gross domestic product, is commonly used to determine the size of an economy (GDP). Economic growth can be quantified in either nominal or real terms.
Economic growth is defined as an increase in an economy's output of products and services. Capital goods, labor force, technology, and human capital all have the potential to contribute to economic growth.
Such expansion should be sustained for a set amount of time. Economic growth cannot be defined as an increase in GDP due to price increases.
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Changes to BC Labour Code
What are the potential negative impacts and who would be
impacted?
Changes to the BC Labour Code can have potential negative impacts on workers' rights, union power, workplace safety, equality, and employee morale. This can affect employees across industries, weaken collective bargaining, increase occupational risks, perpetuate inequalities, and decrease job satisfaction and well-being.
The potential negative impacts of changes to the BC Labour Code can vary depending on the specific changes implemented. However, some general potential negative impacts and affected parties could include:
Workers' rights and protections: If the changes weaken workers' rights and protections, it could lead to decreased job security, lower wages, longer working hours, reduced benefits, and limited access to collective bargaining. This would directly impact employees across various industries.Unions and collective bargaining power: If the changes limit or restrict the ability of unions to organize, negotiate collective agreements, or engage in industrial action, it can weaken the collective bargaining power of workers and hinder their ability to advocate for fair wages, better working conditions, and improved benefits.Workplace safety and health: If there are changes that result in reduced regulations or enforcement around workplace safety and health standards, it can increase the risk of injuries or occupational hazards for workers in various industries.Equality and diversity: If the changes fail to address or strengthen protections against discrimination and promote diversity and inclusion in the workplace, it can negatively impact marginalized groups and perpetuate inequalities.Employee morale and job satisfaction: Negative changes to the labor code can erode employee morale, job satisfaction, and overall well-being, leading to increased stress levels and reduced productivity.It is important to note that the specific impacts and affected parties would depend on the nature of the changes made to the BC Labour Code and how they are implemented. Detailed analysis and consultation with stakeholders would be necessary to fully assess the potential negative impacts and those who would be directly impacted.
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The following are possible product positioning strategies, except:
A) governmental customers
B) cultural symbols
C) product users
D) product class
The possible product positioning strategies are governmental customers, cultural symbols, product users, and product class. Therefore, the answer is none of the above (E).
A) Governmental customers is a possible product positioning strategy where a company positions its products to appeal to government agencies or institutions.
B) Cultural symbols is a possible product positioning strategy where a company positions its products to align with a particular cultural symbol or value, such as patriotism or environmentalism.
C) Product users is a possible product positioning strategy where a company positions its products to appeal to a specific group of users, such as athletes or musicians.
D) Product class is a possible product positioning strategy where a company positions its products as belonging to a particular product category, such as luxury or economy.
E) There is no option in the given list that represents an incorrect product positioning strategy.
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I will mark you as brainliest!!
What is stock turnover?
A. How long customers have own the products they've purchased
B. How quickly inventory sells
C. How much it costs to keep inventory
D. How the stock market affects inventory
Answer:
d.how the stock market affects inventory
Explanation:
a stock turnover is the rate at which a company's goods are sold and replaced. I hope that helped <3
stock movement Effects of the stock market on inventory Thus option (D) is correct.
What is the stock price?A share price is the price of a single share of a company's salable equity shares. In layman's terms, the stock price is the largest amount of money someone is willing to pay for the stock or the lowest amount for which it can be purchased.
Stock market Analysts in economics and financial theory utilize random walk techniques to model the behavior of asset prices, particularly share prices on stock exchanges. This technique is founded on the assumption that investors operate rationally and without bias, and that they evaluate the value of an asset at any given time based on future expectations.
Therefore, Thus option (D) is correct.
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(1) compute its accounts receivable turnover for year 2 and year 3. (2) assuming its competitor has a turnover of 11, is raheem performing better or worse at collecting receivables than its competitor?
The account receivable for Year 2 and Year 3 is 8.8 and 9.4. As Raheem's accounts receivable turnover is lower than its competitor's turnover of 11, Raheem is performing worse.
To compute the accounts receivable turnover for Year 2 and Year 3, we will use the following formula:
Accounts Receivable Turnover = Net Sales / Average Accounts Receivable
Step 1: Calculate the average accounts receivable for Year 2 and Year 3.
Year 2:Average Accounts Receivable = (Year 1 Accounts Receivable + Year 2 Accounts Receivable) / 2
= ($34,800 + $41,400) / 2
= $76,200 / 2
= $38,100
Average Accounts Receivable = (Year 2 Accounts Receivable + Year 3 Accounts Receivable) / 2
= ($41,400 + $44,800) / 2
= $86,200 / 2
= $43,100
Step 2: Calculate the accounts receivable turnover for Year 2 and Year 3.
Year 2:Accounts Receivable Turnover = Net Sales / Average Accounts Receivable
= $335,280 / $38,100
= 8.8
Accounts Receivable Turnover = Net Sales / Average Accounts Receivable
= $405,140 / $43,100
= 9.4
Now, we will compare Raheem's accounts receivable turnover with its competitor's turnover of 11.
Year 2:Raheem: 8.8
Competitor: 11
Raheem: 9.4
Competitor: 11
In both Year 2 and Year 3, Raheem's accounts receivable turnover is lower than its competitor's turnover of 11. This indicates that Raheem is performing worse at collecting receivables than its competitor.
Note: The question is incomplete. The complete question probably is: The following information is from the annual financial statements of Raheem Company. (1) Compute its accounts receivable turnover Year 2 and Year 3. ,(2) Assuming its competitor has a turnover of 11, is Raheem performing better or worse at collecting Receivable than its competitor?
Year 3. Year 2. Year 1
Net sales $405,140 $335,280. $388,000
Accounts Receivable, net ( year -end)
44,800. 41,400. $ 34,800
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Bethany is doing a research project that involves several numbered lists and calculations. She wants to use technology to make the organization less tedious and more effective. What type of software program should she use? HURRY TIMED TEST
A. Word processor software
B. Presentation software
C. software
D. Spreadsheet software
Answer:
D
Explanation:
Bc u can put lists in there and u can do the math in there too
Bethany is doing a research project that involves several numbered lists and calculations. She shall used Spreadsheet software. Option D is correct.
What is spreadsheet software?A spreadsheet is a piece of application software that can store, display, and edit data that has been organized into rows and columns. One of the most used tools for personal computers is the spreadsheet. In general, a spreadsheet is made to store numerical data and short text strings.
Furthermore the spread sheet consist of formula functions & mathematical expressions & operations, tabular representation & graphical data presentation can also be well performed with the use of this application software.
Therefore spreadsheet software are best resource for making list and long calculations.
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what is Photosynthesis?
Freé points -,-
Answer:
photosynthesis is a process by which green plants prepare their own food with the help of sun light and chlorophyll.
Answer:
the process by which green plants and some other organisms use sunlight to synthesize nutrients from carbon dioxide and water. Photosynthesis in plants generally involves the green pigment chlorophyll and generates oxygen as a by-product.
52. The greatest advantage of using a credit card is that it provides
A. An easy way to establish a personal credit history.
B. An easy way to avoid going into debt.
C. A less expensive way to pay for college.
D. A safe way to improve one's credit score.
The greatest advantage of using a credit card is that it provides a safe way to improve one's credit score. Option D
What is a credit card score?A credit score is a three-digit figure that lenders use to determine how hazardous lending money to someone is. A good credit score indicates that a person is a low-risk borrower, which may result in cheaper loan interest rates in the future.
A poor credit score indicates a high-risk borrower, which may result in higher interest rates and less favorable loan terms.
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19) Which statement BEST describes how Georgia's waterway systems serve as social transportation systems
Georgia's waterway systems, which include ports and rivers, serve as social transportation systems by constructing national infrastructure that supports domestic and international trade, business, and leisure. In recognition of this critical purpose, the federal government has assumed responsibility for the creation, maintenance, and secure operation of shipping channels.
How have the nation's mountain and river systems influenced the development of the United States?
The United States' waterways and mountains, like the rest of the world, have had a significant impact on where people settled and how towns and cities interacted with one another. Because of the relative isolation and shared geography created by mountain ranges, large mountain ranges served as natural barriers between groups, resulting in the development of distinct regional shared cultures. Rivers, on the other hand, linked communities through ease of travel, trade, and shared access to water and other natural resources.
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Help Pls!!!
Identify two ways households impact the economy?
Identify two ways firms/businesses impact the economy?
Identify two ways government impacts the economy?
Seal Polymer Industries (SPI) sold two freight containers of latex gloves to Med-Express, Inc., a company based in North Carolina. When Med-Express failed to pay the $104,000 owed for the gloves, Seal Polymer sued in an Illinois court and obtained a judgment against Med-Express. Med-Express argued that it did not have minimum contacts with Illinois and therefore the Illinois judgment based on personal jurisdiction was invalid. Med-Express stated that it was incorporated under North Carolina law, had its principal place of business in North Carolina, and therefore had no minimum contacts with Illinois. Can SPI sue Med-Express in an Illinois court? Why or why not? Which statute (rule) applies here? Be specific, as there is a right answer here.
Answer:
Can SPI sue Med-Express in an Illinois court? Why or why not? Which statute (rule) applies here?
Yes, SPI can sue Med-Express in an Illinois court due to the minimum contacts doctrine. This is an actual court case that the North Carolina Court of Appeals ruled in favor of SPI. The minimum contacts rule states that in order for a business to be sued in another jurisdiction it must have maintained minimum contacts with residents of that state. Minimum contacts may include making business with individuals or companies that reside in the other state, visiting the other state or incorporating in the other state. In this case, Med-Express made business with SPI, and SPI is a resident of Illinois.
Yes, Seal Polymer Industries (SPI) can sue Med-Express in an Illinois court under the condition of minimum contact rule, as Med-Express has traded with SPI earlier which is a minimum contact.
What was SPI and Med-Express case in Illinois courts?Med-Express purchased two freight containers of latex gloves from Seal polymer industries and did not paid the amount for that. SPI sued Med-Express, in the Illinois court and asked for the recovery of its money.
Seal polymer industries can sue Mid-Express in the Illinois courts itself under the minimum contact condition of Minimum contact doctrine as they have traded before.
Therefore, Yes, the Seal polymer industries can sue Mid-Express in the Illinois court under the minimum contact rule.
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Find the interest on the following loan.
$1050 at 5.5% for 9 months
Answer: The answer would be $57.75
Explanation:
1050 x 0.055(the interest rate) = 57.75
Can I have brainliest? It would help me out, if not thanks anyways! Hope this helped and have a nice day!
for a firm that pays rent each month, the posting entry would be
The posting entry for a firm that pays rent each month would be:
Rent Expense xxx
Cash/Bank xxx
The above posting entry is used when a firm pays rent each month.
A posting entry is the mechanism by which accounting entries are entered into a company's general ledger. The firm pays rent each month as an example of a typical entry. As a result, in accounting, the firm is debited for the Rent Expense and credited for the cash or bank payment. The entry is debited to Rent Expense and credited to cash or bank, reflecting the decrease in the company's cash or bank account and the increase in its rent expense account.
Rent expense is the total amount of rent paid by a company or organization in a given period of time. In a company's revenue and expense reports, rent is often listed as a fixed cost. It is commonly considered a variable cost in marginal accounting, where it varies with output levels.
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Which statement is true based on Figure 4 in the article?
1: Apparel prices increased more than medical care prices.
2:Medical care prices increased at the same rate as computer prices.
3: Medical care prices increased while computer prices decreased.
4: The overall CPI is the same as the CPI for computers.
Medical care prices increased while computer prices decreased.
What is inflation? Inflation is an economic concept that describes an increase in the general price level of goods and services over a given period of time. Inflation is typically measured using the Consumer Price Index (CPI), which tracks changes in the prices of a basket of goods and services (including food, housing, clothing, transportation, and medical care) that are commonly purchased by households. When prices for these items rise, inflation has occurred. Inflation generally occurs when the demand for goods and services outstrips the available supply, leading to an increase in prices. It can also be caused by an increase in the money supply, which can lead to an increase in prices due to an increase in the amount of money being circulated. Inflation can have both positive and negative effects on an economy, depending on the rate at which it is occurring. High inflation can lead to a decrease in purchasing power, decrease in investment, and an increase in unemployment, while low inflation can lead to economic growth and increased purchasing power.To learn more about inflation rate refer to:
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Cristal’s gross semimonthly salary is $2968.50. What is the maximum amount she can afford to borrow for a home mortgage?
She can afford to borrow a maximum of $142,488 for a home mortgage.
Briefing:-housing loan
Due to the compensation being paid twice a year, a semimonthly employee will receive 24 (12 x 2) paychecks per year.
Applying this equation
Maximum: Gross semimonthly salary divided by 24 payments and two
Let's enter the formula.
Maximum = ($2968.50 x 24) x 2
Maximum: $71,244 divided by two
Amount maximal: $142,488
She can borrow up to $142,488 in total for a home mortgage, in conclusion.
Does maximum imply a cap?The utmost quantity or amount that is assignable, permissible, etc.; the highest amount, value, or degree achieved or documented. Noun, plural maximums, maxima. a maximum that a rule or legislation permits or allows.
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Question 19 (4 Marks)
Which of the following best captures the notion of external cost?
a. Drugs damage the health of the user.
b. Floods reduce the output of commercial farms.
c. Passive smoking damages the health of nearby non-smokers.
d. a smaller harvest leads to lower income for farmers.
The option that best captures the notion of external cost is: c. Passive smoking damages the health of nearby non-smokers.What is the concept of external cost?An external cost, also known as an externality, refers to a cost paid by people other than the direct parties involved in a transaction. This implies that the cost of an economic activity is paid by society as a whole instead of the person who caused it.
External costs have negative impacts on third parties, such as environmental pollution, traffic congestion, or illnesses caused by tobacco. Therefore, passive smoking is an example of external cost as it has an adverse effect on the non-smoker. While smoking is a private cost incurred by the smoker, the cost of inhaling tobacco smoke is borne by the nearby non-smoker. Hence, the correct option is c. Passive smoking damages the health of nearby non-smokers.
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External cost refers to a cost that is borne by a person who did not choose to incur it. Passive smoking damages the health of nearby non-smokers best captures the notion of external cost. This is because the cost of passive smoking is borne by non-smokers who inhale smoke from smokers without choosing to do so.
What is an external cost?An external cost can be referred to as an economic concept that reflects the cost of a commodity or service that affects a third party who did not consent to or have any control over the actions generating that cost. Some common examples of external costs include pollution, environmental degradation, and traffic congestion. The external cost may be paid by the third party directly or by the society at large.External costs of production are referred to as negative externalities as they negatively impact individuals and society at large.
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