Nlate december you decide, for tax purposes, to sell a losing position that you hold in twitter, which is listed on the nyse, so that you can capture the loss and use it to offset some capital gains, thus reducing your taxes for the current year. however, since you still believe that twitter is a good long-term investment, you wish to buy back your position in february the following year. to get this done you call your charles schwab brokerage account manager and request that he immediately sell your 1 comma 400 shares of twitter and then in early february buy them back. charles schwab charges a commission of $4.95 for online stock trades and for broker-assisted trades there is an additional $25 service charge, so the total commission is $29.95. a. suppose that your total transaction costs for selling the 1 comma 400 shares of twitter in december were $59.95. what was the bid/ask spread for twitter at the time your trade was executed

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