Lucky Lee, a video-game store in New York city, purchases a game machine directly from Taiwan for$30,000. In the U. S., the same machine will probably cost at least $36,000. Pick the most appropriateaccounting action for Lucky Lee:Record the machine at $36,000Record the machine at $30,000Record the machine for [($30,000+$36,000)/2] = $33,000Have the machine examined by an independent appraiser and record it at the appraised value

Record the machine at $30,000

Explanation:

Since as we can see that the purchase value of the game machine is $30,000 and the other values are given

So based on the historical cost principle, the machine should be recorded at the purchased cost, acquired cost, original cost

here in the given situation, the machine is actually purchased at $30,000 so the same is to be recorded

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