Which of these is an example of a flexible expense? a. college tuition b. new clothing c. life insurance payments d. the cable tv bill
2b2t

B

Explanation:

Try negotiating your tuition. It won't happen.

New Clothing. I would pick this one. If you negotiate you can get a lower price.  

Life Insurance: once you sign the dotted line, you pay what they tell you. You know what they tell you before you sign and in general, you cannot negotiate it.

TV Cable bill is another fixed payment. You can down grade your service, but once you've done it, what you pay is fixed.

B

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