Assume Bella Donna’s General Store bought, on credit, a truckload of merchandise from American Wholesaling costing $3,810. The company paid $410 in transportation cost to National Trucking to deliver the merchandise to Bella Donna. Bella Donna immediately returned goods to American Wholesaling costing $760, and then took advantage of American Wholesaling 1/10, n/30 purchase discount. At the end of the period the inventory account will have a balance of

answer; test-retest;

answer; /// the correct answer is (shared); /// good luck

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

you can put this in your 11 sentence summary

" most of the money would be invested in innovation, economic convergence."