The adams corporation, a merchandising firm, has budgeted its activity for november according to the following information: • sales at $645,000, all for cash. • merchandise inventory on october 31 was $220,000. • the cash balance november 1 was $27,400. • selling and administrative expenses are budgeted at $88,200 for november and are paid for in cash. • budgeted depreciation for november is $32,100. • the planned merchandise inventory on november 30 is $256,800. • the cost of goods sold is 75% of the selling price. • all purchases are paid for in cash. • there is no interest expense or income tax expense. the budgeted cash disbursements for november are:

a ab

the answer is: guns or butter

hope i

-lavira : )

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

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