what can be said about determining causation between two factors from a business standpoint, when you have a well thought dataset?
Select an answer: Identifying a causal factor does not require additional resources and time. Although it might not always be accurate, you can use good business judgment to identify a causal factor. If you apply your business judgment, you will always be able to identify a causal factor. If you have a well-thought-out dataset, a causal factor will appear in the data.

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Answer 1

Based on business management strategies and the available options, what can be said about determining causation between two factors from a business standpoint, when you have a well thought dataset is that "Although it might not always be accurate, you can use good business judgment to identify a causal factor."

What is Causation in business?

Causation in business is a term that is used to describe the approach in which entrepreneurs focus on a predefined goal and then aim to find the means to reach this goal.

Generally, the causation approach is considered. a traditional approach in the business managed t and it decides on a predetermined goal and then selects between means to achieve that goal.

Hence, in this case, it is concluded that the correct answer is option B. Although it might not always be accurate, you can use good business judgment to identify a causal factor.

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Related Questions

what technique did william levitt apply to the home-building industry? question 1 options: building with lumber from south america using computers to create production schedules buying building materials from european countries mass-producing houses to speed up production

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William Levitt accelerated output in the housing business through the home-building industry.

What is a home-building industry?

The homebuilding sector in the US includes some of the biggest residential construction firms that are publicly traded. All of these businesses follow a similar operational strategy, which entails buying land and then carrying out improvements to it through the building.

Single-family, prefabricated, and mobile house construction is handled by specialists in the homebuilding sector. A large portion of the sector frequently uses specialist contractors to consolidate operations. Improvement fittings like window frames and plumbing supplies are not included in the industry's published revenue totals in the US.

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In what year did masujiro hashimoto establish the kwaishinsha motor car works – the predecessor to datsun?

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Masujiro Hashimoto established the Kwaishinsha Motor Car Works in 1911. It was the predecessor to the Datsun brand.

Hashimoto was a Japanese entrepreneur and the founder of Kwaishinsha Motor Car Works. The company was initially established to produce a three-wheeled vehicle called the DAT, for which the company was later renamed. The DAT was powered by a small single-cylinder engine and had a wooden body.

It was the first mass-produced car in Japan. Hashimoto quickly recognized the potential of the automobile and began to produce more cars, selling them to the Japanese public. In 1914, the company was renamed DAT Motorcar Co., Ltd., and in 1925 the name was changed again to DAT Jidosha Seizo Company.

The name "Datsun" was first used in 1932 and was applied to a new line of small cars. Since then, the Datsun brand has become one of the most well-known and successful car companies in the world.

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3. is fedex’s level of emphasis on quality appropriate? why or why not?

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Yes, FedEx's level of emphasis on quality is appropriate. FedEx has developed a strong culture of quality and customer service, which is one of the hallmarks of their business.

Their commitment to quality is evidenced by their investments in technology, training and processes to ensure that each customer has a consistent, high quality experience.

Furthermore, they have a comprehensive set of quality standards that they use to measure the performance of their employees, as well as their service offerings. These standards help ensure that their customers receive the best possible service and experience, which is essential for their success.

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Economics studies choices that arise from one fact. What is that fact? O A. Our resources are unable to satisfy all our wants. OB. Some families are too big. O c. Businesses produce too many varieties of most goods. OD. Some things can't be bought in the marketplace

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The fact that economics studies are: "Our resources are unable to satisfy all our wants." This concept is known as scarcity, and it is the fundamental principle that underlies all economic activity.

Scarcity means that there are limited resources available to meet unlimited wants and needs, so choices must be made about how to allocate these resources most efficiently and effectively as possible.  

If you have more wants than income then it can lead to dissatisfaction with your self and can lead you to lose your money. This choice is the central concern of economics, and it drives the study of topics such as production, consumption, exchange, and distribution.

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The manager of the bank where you work tells you that your bank has $10 million in excess reserves. She also tells you that the bank has $500 million in deposits and $455 million in loans. Given this information you find that the reserve requirement must be
a) 9.0 percent.
b) 2.0 percent.
c) 10.0 percent.
d) 7.0 percent

Answers

She also tells you that the bank has $500 million in deposits and $455 million in loans .  The reserve requirement must be 7.0 percent

The correct answer is option d.

How do we determine our reserve needs?

7.0 percent must be set aside in reserves.

The amount of money that a bank must keep in reserve in order to meet its obligations in the event of unforeseen withdrawals is known as the reserve requirement. The central bank uses reserve requirements as a tool to alter the amount of money in the economy and affect interest rates.

Reserves equal deposits minus loans, which equals 500/455, or 45 million.

Required reserves = Reserves - Excess Reserves, which equals 45 - 10 = 35 million.

35/500 = 0.07, or 7%, of required reserves must be in deposits.

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the text describes the new english east india company, which entered the asian marketplace in 1599. how was this trading venture funded, and why were its supporters willing to finance it?

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The English East India Company was owned by 101 shareholders who liked the fact that the English gov't allowed only their company to import goods.

What is import with reference to business?

An export from the sending country is an import into the receiving nation. The two financial operations that best describe international commerce are import and export.

Import quotas and orders from the customs authorities' set limits on how much merchandise may be imported and exported in international trade. The countries responsible for importing and exporting the commodities may apply a tariff (tax) on them. Additionally, trade agreements between the importing and exporting states govern the importation and exportation of commodities.

Imports are transactions in which non-residents sell products and services to a resident of a jurisdiction (such as a country).

[4] Specific "borderline" situations are both included and excluded from the precise definition of imports in national accounts.

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production possibility frontier sounds like a(n) _________________________. normative statement opportunity cost sunk cost budget constraint

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In effect, the production possibilities frontier plays the same role for society as the budget constraint plays for an individual consumer.

Effective use of the initial inputs results in the manufacturing process and outcome (or factors of production). The three main production factors—land, labour, and capital—are referred to as primary producers of goods and services. These crucial inputs are not significantly altered during the output process or turned into important components of the finished product. Given that they are byproducts of land, labour, and capital, materials and energy are categorised as secondary factors in classical economics.  Further research demonstrates that the fundamental elements encompass all of the resources in question, including the land and the natural resources present on and beneath the soil. There are distinctions between labour and human capital, though.

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What are 2 features QuickBooks Time Elite has that Premium does not? Ability to set up a schedule for work that needs to be done Ability to analyze project estimates verses actuals
Ability to track time off Ability to approve time before processing payroll Ability to use geofencing

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QuickBooks Time Elite contains two features that QuickBooks Time Premium does not: Capability to compare project estimates to actuals Geofencing functionality.

QuickBooks Online Accountant is accounting software for accountants and bookkeepers that is hosted in the cloud. It includes facilities for managing many clients, balancing finances, tracking costs, producing invoices, and filing tax returns, among other things. QuickBooks Online Accountant also includes capabilities for communicating with customers and other team members, including as messaging, project creation, certification tracking, and user activity monitoring. The program connects with other applications and services, allowing for simple data import and export, job automation, and process streamlining.

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Which of the following are tax-deductible expenses for corporations?
(Points : 0.1) Interest expenses
Preferred stock dividends
Common stock dividends
All are tax-deductible for corporations.

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Interest expenses are counted as tax-deductible expenses by the regulatory and taxation authorities.

In the fields of finance and economics, interest is the payment made at a set rate by a borrower or deposit-taking financial institution to a lender or depositor in excess of the principal amount (the amount borrowed). It is not the same as a fee that the borrower might pay to the lender or another entity. It also differs from a dividend, which is money given to shareholders (owners) by a company from its profit or reserve, but not at a set rate predetermined in advance, but rather on a pro rata basis as a share of the reward received by risk-taking businesspeople when revenue is earned that exceeds all costs.

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what do you mean by problem solving skill ?​

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Answer:

Explanation:

problem-solving skill is the skill that refers to solving a problem in a situation. For instance, a problem would be a spill, and wiping it with a tissue would be the solution.

Answer:I hope this help I loving helping people good luck itchai72777

Explanation:

Problem-solving skills are the ability to identify problems, brainstorm and analyze answers, and implement the best solutions. An employee with good problem-solving skills is both a self-starter and a collaborative teammate; they are proactive in understanding the root of a problem and work with others to consider a wide range of solutions before deciding how to move forward


Problem solving is the act of defining a problem; determining the cause of the problem; identifying, prioritizing, and selecting alternatives for a solution; and implementing a solution. The problem-solving process. Problem solving resources


It is the methods we use to understand what is happening in our environment, identify things we want to change and then figure out the things that need to be done to create the desired outcome. Problem solving is the source of all new inventions, social and cultural evolution, and the basis for market based economies

match the form of competition with its correct example.

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The form of competition in oligopoly market with its correct example are matched below:

pure competition - wheat, grains, and rice

monopolistic competition - coffee, tea, soft drinks

An "oligopoly" is a term used to describe an economic sector with few active businesses. A few significant sellers or producers control the majority of the market or industry in this market structure, known as an oligopoly. Oligopolies frequently form in order to boost profits, which may lead to corporate cooperation. Markets that are dominated by oligopoly suppliers are under their control. They are found in all countries and a wide variety of sectors. Although they may initially seem to be competitive, certain oligopoly marketplaces are significantly less so.

oligopoly: natural gas, wireless carriers

Water and electricity monopolies

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complete question:

match the form of competition with its correct example. instructions pure competition pure competition drop zone empty. monopolistic competition monopolistic competition drop zone empty. oligopoly oligopoly drop zone empty. monopoly monopoly drop zone empty. coffee, tea, soft drinks cell phone carriers water, electricity, natural gas wheat, grains, and rice

you are planning to deposit in a savings account $25,000 three years from now, $35,000 in the fourth year, and $45,000 in six years. what is the current value of these savings at a discount rate of 7%? group of answer choices $88,265.13 $72,050.63 $77,094.18 $34,330.28 $82,490.77

Answers

The current value of these savings at a 7% discount rate can be calculated using the formula for the present value of a future sum:

PV = FV / (1 + r)^t

Where PV is the present value, FV is the future value, r is the discount rate, and t is the time in years.

PV = $25,000 / (1 + 0.07)^3 + $35,000 / (1 + 0.07)^4 + $45,000 / (1 + 0.07)^6

PV = $25,000 / 1.2127 + $35,000 / 1.2869 + $45,000 / 1.4824

PV ≈ $19,665.08 + $26,809.24 + $30,347.96

PV ≈ $76,822.28

So the current value of these savings is approximately $76,822.28.

What is the current value of savings?

The current value of savings is the value of money that you have saved today, adjusted for inflation and the time value of money. The current value takes into account the fact that money today is worth more than the same amount of money in the future, due to the opportunity cost of not using it and the expected rate of inflation. To determine the current value of savings, you need to know the amount of money saved, the expected rate of inflation, and the length of time over which the savings will be held.

Here, answer is the current value of these savings is approximately $76,822.28.

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Which of the following summarizes the financial performance of an organization over a period of time?
Group of answer choices
a. Balance sheet
b. Liquidity ratio
c. Cash flow statement
d. Income statement
e. Debt statement

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A company's ability to employ resources from its main line of business and create income is measured subjectively by its financial performance.

The phrase is also employed as a broad indicator of a company's overall financial health over a specific time frame. Sales revenue is displayed at the very top of the income statement, which depicts the performance of the company during each period. Gross profit is then calculated by subtracting the cost of goods sold (COGS) from the statement. The balance sheet, also known as the Statement of Financial Position, acts as a snapshot and gives the most thorough account of a company's financial condition. The assets (what an organization owns) and liabilities are reported (what is owed).

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An annual review of total compensation shows one total in the payroll database and a different total in the HR software. What should be your next step?A. Report using only the payroll database data.B. Append the data from both the payroll and HR software data.C. Report using only the HR software data.D. Determine which system has the accurate value for total compensation (system of record).

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An annual examination of overall compensation reveals two totals: one in the HR software and one in the payroll database. Report utilising just the payroll database information.

The right response is C.

A payroll database: what is it?

You can quickly determine your employees' salaries using a payroll data model. You need some sort of payroll solution whether you're in charge of a tiny or huge business. An effective payroll programme can help in this situation.

What kinds of payroll data are examples?

Everything you can learn about your payroll process is contained in payroll data. This data could pertain to your staff members' wages, benefits, overtime, yearly leave, employee statistics, and more.

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1. describe ams’s competitive strategy. discuss what type of supply chain design ams would need to maximize profitability given its strategy.

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AMS' competitive strategy is focused on developing high-quality sensor solutions and maximizing profitability. To achieve this, the company would need to adopt a supply chain design that reduces costs and increases efficiency, such as implementing lean manufacturing processes, using technology, and outsourcing non-core activities.

AMS (Austrian Microsystems) is a technology company that specializes in developing sensor solutions for various industries. The company's competitive strategy refers to the way it positions itself in the market in relation to its competitors and the approach it takes to achieve its goals.

AMS' competitive strategy is focused on developing innovative and high-quality sensor solutions that provide customers with exceptional performance. The company achieves this by investing heavily in research and development and using cutting-edge technology to create products that stand out in the market.

Given its competitive strategy, AMS would need to adopt a supply chain design that maximizes profitability by reducing costs and increasing efficiency.

This could involve implementing lean manufacturing processes to reduce waste and increase production efficiency, as well as using technology to automate processes and reduce labor costs.

AMS may also need to adopt a just-in-time (JIT) inventory management system to ensure that it has the right products in stock at the right time, without having to carry large amounts of inventory that could tie up resources.

The company could also consider outsourcing non-core activities, such as manufacturing, to reduce costs and focus on its core competencies.

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what is a good technique for justifying negative information presented to a customer?

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To justifying negative information presented to a customer we can use positive emphasis as a good technique. First of all we have to  Avoid negative words or also connotations while presented to a customer.

In the term of customer services, Positive emphasis generally can be defined as a way of looking at things. Positive emphasis is used especially when we are presented to a customer. In the term of justifying negative information presented to a customer, we have to avoid using negative words. And then we have to justify the negative info with reason or by linking it to an audience benefit.

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gross domestic product (gdp) includes: group of answer choices intermediate as well as final goods. foreign goods as well as domestically produced goods. used goods sold in the current time period. only final goods and services.

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Only finished products and services are included in the Gross Domestic Product. Here option B is the correct answer.  

Gross Domestic Product (GDP) is the monetary value of all final goods and services produced within a country's borders in a specific period of time, typically a year or a quarter.

Final goods and services are those that are sold to the end consumer and are not used as inputs in the production of other goods and services.

Intermediate goods, which are used as inputs in the production of final goods and services, are not included in GDP. Foreign goods, regardless of whether they are produced domestically or abroad, are also excluded from GDP as it only measures production within the country's borders. Used goods sold in the current time period are also excluded from GDP as they do not reflect new production.

Complete question:

gross domestic product (GDP) includes: group of answer choices

A - intermediate as well as final goods.

B - foreign goods as well as domestically produced goods.

C - used goods sold in the current time period.

D - only final goods and services.

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financial accounting primarily deals with the methods accountants use to provide information to an organization’s internal users. T/F

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False, the ways accountants employ to deliver information to an organization's internal users are the focus of financial accounting.

A specialist who manages bookkeeping and organizes the financial records you require to run your company, including balance sheets, profit and loss statements, and more, is an accountant. They simplify all the financial jargon associated with running a business, create tax reports, and audit your books. Corporate accountants are employed by businesses and manage and file financial data for the purpose of tax compliance and external reporting. Public accountants serve external customers who may be citizens, companies, nonprofit organizations, or governmental entities. There are no immediate plans to eliminate the accounting profession. Almost every business requires an accountant or the assistance of a third-party accounting firm, and even the average person occasionally has to hire an accountant for various reasons.

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when estimate the productivity of excavation activity (e.g. cy/day), the most reliable data source is typically:

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The highest productivity attainable on a real building site is referred to as the excavator's actual productivity. The SRF makes use of a video camera and sophisticated computer software to analyze recorded movies.

How to determine the productivity of an excavator is explained in the steps that follow. Determine the total excavation volume (in ft3) first. Next, calculate the whole duration (min). Gather the following formula: EP = V / T x 60.

In the construction sector, productivity ratios of labor and equipment are used to determine how long it will take to do a certain task. If you want powertools that are affordable but of exceptional quality, look here.

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if i have to design a program to ask a series of questions to a customer to suggest a movie from the company's library, will it be a rule based approach or a learning based approach?

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If I had to create a program to ask a consumer a collection of questions to recommend a movie first from company's library, I would use a learning-based strategy.

a strategy based on learning

In this method, the computer obeys any guidelines or directives provided by the developer. With this method, the computer picks up knowledge on its own. By using rule-based methods, AI is created in this method. The machine learning method is used in this strategy to achieve AI.

Describe a rule-based strategy.

A system that uses rules created by humans to store, sort, and manipulate data is known as a rule-based system. It imitates human intelligence in accomplishing this. A collection of information or a data source, as well as a slew of guidelines for modifying that data, are necessary for regulation systems to operate.

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summarize the rules for using binomial nomenclature

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Answer:

Explanation:

The system of binomial nomenclature was incorporated by Carl Linnaeus. Multiple local names make it extremely tough to know an organism globally and keep a track of the number of species.

Therefore, it shows a lot of confusion. To get rid of this confusion, a standard protocol came up. As per , each and every organism would have one scientific name which would be used by everyone to determine an organism. This process of standardized naming is called as Binomial Nomenclature.

Each living species comprising plants, animals, birds and also some microbes have their own scientific names. For instance.,

The scientific name of the tiger is showed as Panthera tigris. ‘Panthera’ represents the genus and ‘Tigris’ presented a specific  species or specific epithet.

The scientific name of humans is showed as Homo sapiens. ‘Homo’ represents the genus and ‘sapiens’ represents a specific  species. The Indian bullfrog is scientifically written as Rana tigrina. ‘Rana’ is the name of the genus and ‘tigrina’ is the name of the particular species.

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what are the advantages of cisco’s strategic alliances? what are the risks to cisco? to the suppliers?

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Cisco's Strategic Alliances refer to the partnerships and collaborations that the technology company has established with other companies to achieve mutual business goals. These alliances can provide a variety of benefits for both Cisco and its partners, as well as help the company manage certain risks.

Advantages for Cisco:

Expanded reach and access to new markets: By partnering with other companies, Cisco can access new customer bases and markets that it may not have been able to reach on its own.

Enhanced product offerings: Strategic alliances can also allow Cisco to offer a wider range of products and services to customers, which can increase the company's competitiveness and appeal.

Sharing of resources and expertise: Cisco can also benefit from the resources and expertise of its alliance partners, which can help the company develop new products and services more efficiently.

Risks for Cisco:

Dependence on partners: By relying on its strategic alliances, Cisco may become dependent on its partners to a certain extent, which can put the company at risk if the partnership were to end or if the partner were to encounter problems.

Competition with partners: In some cases, Cisco's strategic alliances may result in competition with its partners, which can be detrimental to the relationship and potentially harm the company's reputation.

Risks for suppliers:

Reduced bargaining power: By working with Cisco, suppliers may see their bargaining power reduced, as the company may have more leverage in negotiations.

Loss of control over product quality: Suppliers may also lose control over the quality of the products they provide to Cisco, as the company may impose its own quality standards on the products.

In conclusion, Cisco's strategic alliances provide the company with a number of benefits, such as expanded reach and access to new markets, enhanced product offerings, and sharing of resources and expertise. However, there are also risks associated with these alliances, such as dependence on partners, competition with partners, reduced bargaining power for suppliers, and loss of control over product quality.

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how many people are involved in each form of partnership?

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The number of people involved in each form of partnership varies depending on the type of partnership and the agreement between the partners.

Generally speaking, a general partnership involves two or more partners, a limited partnership involves at least one general partner and one limited partner, and a limited liability partnership involves two or more partners.

A general partnership, also known as a general partnership, involves two or more partners who are each jointly and severally liable for the actions and debts of the partnership. The partners share equally in the profits, losses, decision-making, and management of the business. A limited partnership is similar to a general partnership, but with one or more limited partners who are only liable for their own contributions to the partnership. The limited partner does not typically participate in the management of the business.

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Assuming the business income allocated to mason is income from a specified service trade or business, what is mason's deduction for qualified business income? ignore the wage-based limitation when computing the deduction.

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Under the Tax Cuts and Jobs Act (TCJA), the deduction for eligible business income is subject to different restrictions and is dependent on a number of variables, including the nature of the business, taxable income, and other specifics that are not disclosed.

The further information, to calculate Mason's deduction for eligible business income.

An cost that may be deducted from a taxpayer's gross income to lower the amount of income that is subject to taxation is known as a deduction.

There are 19 different ways to take advantage of tax deductions, including loans, life insurance, and public provident funds.

The standard deduction, itemised deductions, and above-the-line deductions are the three types of deductions.

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What might happen if a monopolist increased output of its product each week?

Answers

If a monopolist increased output of its product each week, The price of the good would eventually fall and so would revenue.

About monopolistic market

A monopolistic market is a market with many producers producing the same commodity but with different characteristics. Monopolistic markets generally occur in all markets, both traditional and modern. This market structure is a form of real market, with characteristics of monopoly market types and perfect competition markets.

A monopolistic market is a market with many producers that produce commodities with different characteristics. In this type of market, producers offer one type of product with different product characteristics in terms of quality, shape and size.

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the apple marketing department has estimated demand for a new device and expects to sell 2 million units at a price of $310 each. it costs $50 million each year to run the factory, independent of the level of production. labor and components for each device add up to $210 per unit. apple's marginal tax rate is 0.34, and the annual depreciation attributable to the project is $40 million. attempt 1/10 for 1.5 pts. part 1 what is ebit in each year of operation (in $ million)?

Answers

In each year of operation, Apple's EBIT (Earnings Before Interest and Tax) would be:

EBIT = (2,000,000 x $310) - ($50M + (2,000,000 x $210)) - ($40M x 0.34)EBIT = $440M - $420M - $13.6MEBIT = $6.4M

To calculate Apple’s EBIT for each year of operation, we need to subtract the total cost of production from the total revenue generated. The total revenue generated is the price of each unit multiplied by the number of expected units sold, which in this case is 2,000,000 x $310 = $620,000,000.

The total cost of production is the cost of running the factory each year, independent of the production level ($50,000,000), plus the cost of labor and components for each device ($210 x 2,000,000 = $420,000,000), plus the annual depreciation attributable to the project multiplied by Apple’s marginal tax rate (0.34 x $40,000,000 = $13,600,000).

When we subtract the total cost of production from the total revenue generated, we get the EBIT for each year of operation: $620,000,000 - $420,000,000 - $13,600,000 = $6,400,000.

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you are managing a landscaping project for the city. the project's purpose is to decorate the park to commemorate the city's 200th anniversary. the official flower is in short supply due to a heat wave in the area in which they are grown. therefore, the price per plant will be higher than originally planned. while a potential supplier shortage was an identified risk, it was not due to a heat wave causing a shortage in the supply chain. you are in the process of reassessing the project risks, but need to know what the tolerances for the original project risks were. where do you find this information? answers a. project management plan b. risk register c. risk reviews d. risk audit

Answers

Risks must be prioritized and ranked. Depending on the danger's intensity, most risk management solutions provide a variety of risk categories.

What comes first in a five-step risk assessment plan?

Identifying the dangers is the first step. A risk is something that has the potential to be harmful. A task or activity may involve a single hazard or a number of them. It's not necessary to list every potential hazard, but you should try to list any serious ones.

What three categories of control measures are there?

Detective, preventative, and corrective internal controls are the three main categories. There are several internal control frameworks available to make it easier to apply legal compliance requirements and enterprise risk management (ERM) best practices.

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mlo delaney has started an application for applicant cole. it is a violation of trid if she collects any fees before she provides cole with a loan estimate with the exception of the collection of a(n)

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The incorrect application of the daily interest component, the application of penalty costs that exceed TILA limits, and the creditor's failure to appropriately disclose the APR and financing charge are a few instances of TILA violations.

What Is the Truth in Lending Act (TILA)?The Truth in Lending Act (TILA) is a federal statute that was passed in 1968 to aid in defending customers while dealing with creditors and lenders. Federal Reserve Board regulations have been used to execute the TILA.The annual percentage rate (APR), the length of the loan, and the overall costs to the borrower are some of the information that must be revealed to a borrower before giving credit. This information must be clearly displayed on all documents that the borrower is presented with before signing them, as well as occasionally on the periodic billing statements that the borrower receives.

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which best describes the purposes of savings and checking accounts?

Answers

Answer: A savings account is an interest-bearing deposit account held at a bank or other financial institution. Though these accounts typically pay a modest interest rate, their safety and reliability make them a great option for parking cash you want available for short-term needs.

Explanation: Search it

when quantity supplied is greater than quantity demanded, there is a

Answers

When quantity supplied is greater than quantity demanded, there is a excess supply.

An excess supply, economic surplus, market surplus, or simply surply is a scenario in economics in which the quantity of an item or service supplied exceeds the quantity sought, and the price is higher than the equilibrium level established by supply and demand.

That is, the amount of product that producers want to sell surpasses the amount of product that potential purchasers are willing to buy at the current price. It is the inverse of an economic scarcity (excess demand).

Agricultural surplus in the Neolithic period is said to have resulted in increased division of labor, leading in social stratification and class in cultural progress.

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