1. opportunity cost helps us to make a choice on a product depending on priority.
2. it helps in decision making since in economics there are scarce resources
3.it helps to compare relative prices and the benefits of each alternative
4.it helps to make consideration and know the value of the best forgone item
Erwoti answered the question on August 7, 2019 at 11:08
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Identify the various Business disciplines from which business studies as a subject borrows concept from
(Solved)
Identify the various Business disciplines from which business studies as a subject borrows concept from
Date posted:
July 10, 2019
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Answers (1)
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What are the challenges that come as a result of emerging issues in marketing?
(Solved)
What are the challenges that come as a result of emerging issues in marketing?
Date posted:
June 25, 2019
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Answers (1)
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State the ledgers in which each of the following accounts are kept.
...
(Solved)
State the ledgers in which each of the following accounts are kept.
Ledgers
a). Rent Account
b). Discount received Account
c). Cash Account
d). Creditors Account
Date posted:
June 4, 2019
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Answers (1)
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State the business environment described in the statements given below.
(Solved)
State the business environment described in the statements given below.
Date posted:
June 4, 2019
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Answers (1)
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For each of the transactions given below indicate the accounts to be debited and the account to be credited.
(Solved)
For each of the transactions given below indicate the accounts to be debited and the account to be credited.
Date posted:
June 4, 2019
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Answers (1)
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Munyao an entrepreneur intends to start a business. Give four factors that he needs to consider when deciding on which goods to produce.
(Solved)
Munyao an entrepreneur intends to start a business. Give four factors that he needs to consider when deciding on which goods to produce.
Date posted:
June 4, 2019
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Answers (1)
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Record the following transactions that took place in Otiende traders from 21st august to 24th August 2018 in the general journal. 201821st Aug: Bought...
(Solved)
Record the following transactions that took place in Otiende traders from 21st august to 24th August 2018 in the general journal.
2018
21st Aug: Bought furniture from Lowoi furniture mart at Sh 60,000 on credit
22nd Aug: Sold an old machinery on credit to Muchina at Sh. 90,000
23rd Aug: Bought a lawn mower from Farm Machines on credit Sh. 80,000
24th Aug: Purchased a water tank worth Sh. 140,000 on credit from Kentank ltd
Date posted:
June 4, 2019
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Answers (1)
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State four items of information one can obtain from an insurance policy.
(Solved)
State four items of information one can obtain from an insurance policy.
Date posted:
June 4, 2019
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Answers (1)
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Highlight four factors which may have led to a shift in the supply curve as illustrated below.
(Solved)
Highlight four factors which may have led to a shift in the supply curve as illustrated below.
Date posted:
June 4, 2019
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Answers (1)
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Highlight four channels that a fish farmer may use to distribute her produce in a local
market.
(Solved)
Highlight four channels that a fish farmer may use to distribute her produce in a local
market.
Date posted:
June 4, 2019
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Answers (1)
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The following information relates to four businesses A, B, C and D. Fill in the missing figures.
(Solved)
The following information relates to four businesses A, B, C and D. Fill in the missing figures.
Date posted:
June 4, 2019
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Answers (1)
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By aid of a diagram, outline the circular flow of income in a two sector economy.
(Solved)
By aid of a diagram, outline the circular flow of income in a two sector economy.
Date posted:
June 4, 2019
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Answers (1)
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Draw a well labeled diagram to show the effect of increase in demand and increase in supply on
equilibrium point, equilibrium price and equilibrium quantity.
(Solved)
Draw a well labeled diagram to show the effect of increase in demand and increase in supply on
equilibrium point, equilibrium price and equilibrium quantity.
Date posted:
May 22, 2019
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Answers (1)
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The following transactions were extracted from the books of Furaha retailers.
(Solved)
The following transactions were extracted from the books of Furaha retailers.
April 1.Balance brought forward cash ksh 1,900 cash at bank ksh. 6500.
April 3.Sold goods in cash ksh. 1,200.
April 5. Paid transport by cheque ksh. 2,050.
April 7.Bought goods worth ksh.2,500 in cash less 5% cash discount.
Apri l 10.Paid postage charges by cheque ksh.3,000.
April 12.Furaha deposited ksh.600 from cash till to the business bank account.
April 13.Bought goods ksh .8400 by cheque.
April 15. Sold some old furniture for ksh 3,900 and received the money by cash.
April 17.Brought a table to be used in the business whose value was ksh.1,800.
April 18.Paid electricity bill by cheque ksh.2,100.
April 20.Sold goods goods against a cheque for ksh.6,600 whose value was ksh.6,850.
April 21.Took cash ksh 400 for family use..
April 26.Sold goods on credit to Kamani valued at ksh 4,500.
April 28.Received cash ksh.1,500 from Bidii stores.
April 30.Deposited all cash with the bank except ksh.3,525.
Required to prepare a three column cash book duly balanced.
Date posted:
May 22, 2019
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Answers (1)
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Explain five documents used in home trade that are prepared by the buyer.
(Solved)
Explain five documents used in home trade that are prepared by the buyer.
Date posted:
May 22, 2019
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Answers (1)
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The following balances were extracted from the books of Kasuku traders on 30th June 2018.
The following transactions took place in the month of July 2018.
July...
(Solved)
The following balances were extracted from the books of Kasuku traders on 30th June 2018.
The following transactions took place in the month of July 2018.
July 10 Kasuku traders received ksh. 15,000 from a debtor by cheque.
July 15 Bought more furniture worth ksh. 2,500 and paid in cash.
July 20 Took goods worth 14,000 for home use.
Required.Prepare a balance sheet as at 30th July 2018.
Date posted:
May 22, 2019
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Answers (1)
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Mention the four elements of transport .
(Solved)
Mention the four elements of transport .
Date posted:
May 22, 2019
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Answers (1)
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Name four documents required by the registrar of companies in order to
register a Public Limited Company
(Solved)
Name four documents required by the registrar of companies in order to
register a Public Limited Company
Date posted:
May 22, 2019
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Answers (1)
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State four ways in which human resource can positively influence the
internal environment of a business
(Solved)
State four ways in which human resource can positively influence the
internal environment of a business
Date posted:
May 22, 2019
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Answers (1)
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Below is a diagram of demand and supply curve
Highlight four factors that may have led to the above behavior
(Solved)
Below is a diagram of demand and supply curve
Highlight four factors that may have led to the above behavior
Date posted:
May 22, 2019
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Answers (1)