Weekly Reflection Week 2 Felice Valdez‚ Jose Soto‚ Jasmine Kittrell‚ Mitchell Gourley‚ and Kwaylon Crowder Acc-291 March 17‚ 2014 Joseph Bailey Weekly Reflection In week one and week two we covered a large amount of information that was interesting and some of us struggled understanding it. We discussed such topics as receivables‚ notes receivables‚ bonds‚ liabilities‚ unearned revenues‚ tangible and intangible assets‚ and various others. We all did not struggle on the same topics but not all the
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ECO 212 Final Exam 1) According to economics‚ what causes us to have to make choices? A. unlimited resources. B. scarcity. C. unemployment. D. greed. 2) Why do consumers have to make tradeoffs in deciding what to consume? A. there are not enough of all goods produced. B. the prices of goods vary. C. not all goods give them the same amount of satisfaction. D. they are limited by a budget constraint. 3) What is the term in economics
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Learning Team Weekly Reflection The third week of class‚ Team “C” collaborated together and shared our understanding for chapter four. The objective was to identify the difference between accrual basis and cash basis accounting‚ create adjusting entries‚ and prepare an adjusted trail balance. Differentiate between Accrual Basis and Cash Basis Accounting Accrual basis is a process in which companies use to show a change in their financial statements. These changes are recorded for the period
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usually improve upon both equality and efficiency. As long as the economic pie continually gets larger‚ no one will have to go hungry. Efficiency and equality can both be achieved if the economic pie is cut into equal pieces. 2. Pete receives $50 as a birthday gift. In deciding how to spend the money‚ he narrows his options down to four choices: Option A‚ Option B‚ Option C‚ and Option D. Each option costs $50. Finally he decides on Option B. The opportunity cost of this decision
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Q1. What is an opportunity cost? How does the idea relate to the definition of economics? Which of the following decisions would entail the greater opportunity cost: Allocating a square block in the heart of New York City for a surface parking lot or allocating a square block at the edge of a typical suburb for such a lot? Explain. LO1 A1. Opportunity cost is the value of the next best thing forgone‚ this is always present whenever a choice is made. Economics is the social science that examines
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Weekly Self S.O.A.P - A. S- Discuss your SUBJECTIVE feelings for this week: This week I was in 1600‚ which I have not been on since my first semester. In this floor you see more post surgical patients. I liked the new environment and being exposed to different nurses and types of patients. I was able to take care of 3 patients and feel confident in what I was doing. I believe that because my preceptorship is coming up soon‚ I have set my mind to think more independently along with feeling more
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Week Four Reflection Team A will discuss the objective‚ which consist of analyzing the influence of the debt in the United States economy‚ and explain the impact that surplus and deficits has on the health of the United States macroeconomy. To analyze the influence of the deficit‚ surplus‚ and debt on the health of the United States macroeconomy you have to understand what exactly is deficit and surplus. A deficit is a shortfall of revenues are under payments‚ and a surplus is the
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This paperwork of ECO 100 Week 2 Discussion shows the solutions to the following problems: DQ 1: Supply‚ Demand Equilibrium Professional Sport players generally are paid much more than farmers‚ factory workers‚ engineers‚ and teachers. The markets for the professional sports players‚ farmers‚ factory workers‚ engineers and teachers are generally competitive markets. Even among professional sport players‚ the salaries for players in some sports are generally significantly higher than
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Week Two Summary Eco/365 Week Two Summary Week Two has been an interesting‚ yet exciting‚ week for Learning Team B. The topic of week two was production and cost analysis. Students were required to analyze the relationship between productivity and the cost of production. Week two also had students analyze the effect of changes in the supply of and demand for factors of production on the price of inputs. Through the two discussion questions for week two students were able to take the information
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This document of ECO 203 Week 2 Quiz shows the solutions to the following problems: 1. The term “recession” refers to a 2. Who is NOT a loser in inflation? 3. The transfer of funds from savers to business investors takes place in the 4. If taxes increase and the AS curve is upward sloping‚ then 5. The turning points of the business cycle are called 6. As an economy recovers from a trough in the business cycle‚ 7. Short-term unemployment while searching for a new job
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