A market economy utilizes the forces of supply and demand to allocate scarce resources.
The market economy system is an economic system that determines decisions related to investment, production, and distribution based on supply-demand relationships that determine the prices of goods and services. The main characteristic of a market economy is making investment decisions or distributing production goods through capital and financial markets.
In a market economy, economic problems are solved entirely by the market. Market dominance depends on pricing and the methods chosen by producers and consumers in the process of production and consumption. The market economy system was initially adopted by most of the free-thinking countries, especially the United States. Currently, most countries in the world have started to leave the market economy and choose another economic system.
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from the previous analysis, you can determine that as jake increases his production of trucks, his opportunity cost of producing one more truck .
the potential cost of making another truck for him Increases.
How does opportunity cost work?
The value of what you must give up in order to pick something else is referred to as opportunity cost in economics. It is, in a nutshell, the worth of the path not traveled.
When comparing several options, opportunity cost might be helpful in determining which one has the fewest drawbacks.
The opportunity cost is the lost study time and money that could have been used for something else. A farmer decides to sow wheat; the opportunity cost is not doing so or using the resources in a different way (land and farm equipment)
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a company purchased a building for $850,000 on january 1, 2010. as of december 31, 2014, $200,000 of accumulated depreciation had been recorded related to this building. the building was sold to another party for $1,250,000 on january 1, 2015.
On the sale of this building, the company should recognize is $600,000.
What is company?
The term company refers to the legal entities that are legally registered in accordance with the Company Act. Company is the main goal to earn higher profit, and they maintain the goodwill.
A company purchased the building amount on the $850,000 on january 1, 2010. A accumulated depreciation record of the related to the building are $200,000 (net book value of the building to the amount on the $650,000) It sold on the $1,250,000 on january 1, 2015.
$850,000 - $200,000
= $650,000
$1,250,000 - $650,000
The company will recognize the amount of the $600,000.
As a result, the sale of the building to the amount of the recognize to the building are the $600,000.
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an economist modeled the demand q for a certain product as a linear function of the selling price p. the demand was 20,000 units when the selling price was $40 per unit, and the demand was 15,000 units when the selling price was $60 per unit. based on the model, what is the demand, in units, when the selling price is $55 per unit?
This is a linear function which means that it takes the form of y = MX + c.
An economist is an expert and practitioner in the social technological know-how discipline of economics. The man or woman may additionally look at, develop, and follow theories and concepts from economics and write about monetary coverage.
Y is the demand
X is the price
Find m.
= (Y₂ - Y₁) / (X₂ - X₁)
= (15,000 - 20,000) / (60 - 40)
= -250
Find c using substitution;
20,000 = -250 * 40 + c
20,000 = -10,000 + c
c = 20,000 + 10,000
c = 30,000
A linear function is;
y = -250x + 30,000
If the selling price is $55;
y = -250 * 55 + 30,000
y = 16,250 units.
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Jemimah was having problems with the tight scheduling and timelines given to her for one of her technical writing projects. She was failing to meet deadlines regularly and was unable to adjust to a variety of functional changes in the project. In this type of situation, what skill should Jemimah use to manage time and meet deadlines?
Answer: Strong time management skills.
Explanation:
Time management skills looks at achieving goals in a shorter period of time and making available time for other activities you plan to achieve, it helps you plan your events well void of much stress, gives you focus and meeting up with deadlines.
Jemimah has to work on her time management skills, she has to analyze the project and work out a plan on to meet up before the deadline. She can break the project in bits and set short deadline for her self on each task, in doing so, sh would relieve herself of stress and meet up with the deadline she was given.
What is required in order to make a good career decision
Answer:
You need to follow curtain decision making chart that requires you to ask and answer questions about the decisions made in picking and making a good career! Best of luck !
Having too much to do given your available resources is called
a. prioritizing.
b. budgeting.
c. being overextended.
d. multitasking.
c. being overextended
is the answer
Having too much to do given your available resources is called being overextended. Thus, option C is correct.
What is a resource?Anything that is useful and enhances your life is a resource. A resource is a process helps that people appreciate and need, including breath, drink, and land. A resource can be classified as regenerative or non-renewable sources based on whether it can replace it at the speed it is utilized up or whether it has a finite supply.
Being completely out of position is having much else to do for your scarce funds. You will likely overlook crucial events and obligations, so consider what you really want to do and add tasks to that list. This will help the person to create data that is well established and also regard to the data.
Therefore, option C is the correct option.
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PLEASE HURRY!!!! Thanks! ;)
How do you know when you can afford something? When you have the ———————- to pay for it!
Answer:
Umm. Money
Explanation:
Well its not bananas or ketchup is it?
Which of these terms refers to the group of all the product lines offered for sale by a company?
O Marketing mix
O Brand
O Product mix
O Target market
The term where the group of all the product lines provided for the sales by a company is known as the product mix.
The information related to the product mix is as follows:
It refers to the product portfolio where it is the completed set of products or services that are provided by the firm.The product line is the subset of the product mix.An Example is Nescafe, maggie noodles, etc.So the other options are to be considered incorrect.
Therefore we can conclude that the term where the group of all the product lines provided for the sales by a company is known as the product mix.
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park, seamans & zhu (2021). homing and platform responses to entry: historical evidence from the u.s. newspaper industry. strategic management journa
The correct answer is historical evidence from the U.S. newspaper industry.
What do you know about the U.S. newspaper industry?The factors that led to this rise in American newspapers were numerous and independently generated, yet they all reinforced one another. The population of the United States was increasing and moving into new areas that were away from the early coastline colonies. Newspapers blossomed when new institutions, including towns, emerged. Every daily newspaper subscriber is aware that it arrives on the driveway in the early morning. Newspapers are delivered by independent contractors known as carriers using their cars after they have been purchased at a discount. Between the first quarter of 2020 and the most recent reported period, which covers the six months to March 2021, the Wall Street Journal, the New York Times, and USA Today together lost more than 500,000 print subscribers.
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leon is a project manager who is overseeing the development of a new video game. the project is running behind, and the budget is starting to stretch thin. who is most likely putting pressure on leon to manage the schedule and budget?
Upper-level management is most likely putting pressure on leon to manage the schedule and budget
What is management?To accomplish a goal, tasks are coordinated and managed through management. These administrative tasks involve determining the organization's strategy and coordinating the staff's efforts to achieve these goals by utilizing the resources at hand. The seniority hierarchy of employees within a company is another definition of management.
Planning, communication, organization, and leadership are just a few of the talents you'll need to master in order to become a successful manager. In order to successfully direct personnel, sales, and other activities, you'll also need to have a thorough understanding of the company's objectives.
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which management employability skill involves being able to move beyond established ideas and rules to set up new models and processes?
Creativity is a skill that involves being able to move beyond established ideas and rules to set up new models and processes
How to think creatively?Finding novel approaches to issues and ways to deal with circumstances is the essence of creativity. This is a skill that people from all walks of life can benefit from learning; it is not just a talent reserved for artists, musicians, authors, or "right-brained" thinkers. These suggestions can be useful if you've ever sought to increase your creativity.
Developing your expertise in this field is one of the best strategies to foster creativity. Your ability to come up with original and creative solutions to issues will improve if you have a thorough understanding of the subject. Reading about and hearing from creative people is one approach to gain expertise.
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which factors, in addition to finances, may have contributed to mr. rodriguez not seeking medical care in the recent months
A. He may be an undocumented immigrant.
B. Undocumented immigrants in the US are at a higher risk of exploitation than legal residents.
C. Lack of concern about his overall health.
D. His impression that allopathic care is not considered holistic.
E. His culture highly values masculinity.
F. He may view the US healthcare system as unfriendly and intimidating.
What is immigrant?Immigration refers to the international movement of people to a destination country where they are not natives or citizens in order to settle as long-term residents or naturalized citizens. In contrast to commuters, tourists, and other short-term visitors, seasonal labor migration is occasionally included in the definition of immigration or migration.
Research indicates that has positive economic consequences for both the sending and receiving countries.
With few exceptions, research shows that immigration generally has favorable economic impacts on the native population. However, opinions are divided on whether low-skilled immigration has a negative impact on low-skilled natives.
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lotina received an email notice from her university that tuition would be increasing 2.5% for next year, with no changes to fees or room and board. this describes which element of the university’s marketing mix?
The element of the marketing mix that is used in the given scenario is Price as it has to do with an increase in tuition.
What is Marketing Mix?This refers to the tactics that is used by a company to promote its product or brand in the market.
Hence, we can see that The element of the marketing mix that is used in the given scenario is Price as it has to do with an increase in tuition.
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Your department has been having things come up missing lately . You've been noticing but no one else has said anything . Two other people work in your department . how will you handle this issue ?
Answer:Are you friends with these other colleges if you’re you should try asking questions concerning the incidents but be careful so you don’t throw any of them especially if one of them might be the culprit
Explanation:
the market supply curve question 9 options: represents the sum of the prices that all the sellers are willing to accept for a given quantity of the good. slopes downward. is found by vertically adding the individual supply curves. represents the sum of the quantities supplied by all the sellers at each price of the good.
Represent the sum of the quantities supplied by all the sellers at each price of the good.
A supply curve is usually upward-sloping, reflecting the willingness of manufacturers to promote extra of the commodity they produce in a market with higher prices. an upward sloping curve depicting the high quality dating among rate and quantity provided. The market delivery curve is derived by summing the amount providers are willing to supply while the product can be offered for a given price.
A supply curve is typically upward-sloping, reflecting the willingness of producers to sell extra of the commodity they produce in a market with better fees. Any trade in non-fee factors could purpose a shift in the supply curve, whereas adjustments in the price of the commodity can be traced alongside a fixed delivery curve. The supply curve will pass upward from left to right, which expresses the law of supply: because the fee of a given commodity will increase.
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alberto currently has $500 in an account that earns 20% apr, compounded monthly. assuming he doesn't withdraw any of the funds, how much will his balance be in 6 years?
Future value is the current value of an asset at a future point in time when it has grown at the specified int rate or growth rate.
FV = PV (1+r)^n
where r is the interest rate per period
n - number of periods detail amount
present value $500.00
interest rate 1.6667%
period 72
future value = present value * ( 1 + r )^n
= $500 (1 + 0.016667) ^72
= $500 (1.016667 ^72)
= $500 * 3.2874
= $1643.72
An asset is a resource of economic value owned or controlled by an individual, firm, or country with the expectation of future profit. Assets are reported on the company's balance sheet. They are classified as short term, fixed, financial, and intangible.
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when firms fail to take advantage of opportunities because something prevents them from capturing the benefits of the opportunity, or imposes additional costs on them, economists say there is
Economists says market failure occurs when enterprises fail to capitalise on possibilities because something prevents them from reaping the benefits of the opportunity or imposes additional expenses on them.
Economists
An economist is a specialist who investigates the relationship between a society's resources and its output. Economists research anything from small, local communities to entire nations and even the global economy. An economist's expert judgments and research findings assist determine a wide range economic policies, including interest rates, tax legislation, employment initiatives, international trade agreements, and company strategy. An economist's job include examining data that contains economic indicators such as GDP and investor confidence surveys. Economists may investigate the distribution, accessibility, and reach of products and services to discover prospective trends or generate economic forecasts.
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The after closing balance in a revenue account will always be zero. This statement is.
This statement is True.
When an account is closed, the balance in the revenue account is moved to the retained profits account, leaving the revenue account with a zero ending balance. The beginning balance for a revenue account will also be 0 because the ending balance from the previous period becomes the beginning balance for the subsequent period.
What is a Revenue Account?The assets made by a company's operations and business activities are its revenues. To put it another way, revenues comprise the money or receivables a business receives from the sale of its products or services.
The income account has a credit balance and is an equity account. Therefore, a credit to the revenue T-account results in a rise in the account balance. The enlarged accounting equation demonstrates how revenues raise equity. Because revenues or income are often only created, unlike other accounts, revenue accounts are rarely debited. A business rarely has its income taken away.
Only when items are returned and sales are refunded does the revenue account get deducted. The original sale is voided in this situation, so the recorded sale must be reversed.
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walker's tax services had the following accounts and account balances after adjusting entries. assume all accounts have normal balances. loading...(click the icon to view the accounts listing.) prepare the adjusted trial balance for 's tax services as of december 31, .
Following adjusting entries, Walker's Tax Services had the following accounts and account balances. let's say that each account has a typical balance of total 104150.
What is an Account balance?
The amount of money held in a financial institution, such as a savings or checking account, at any particular time is known as the account balance. The net amount, which includes all debits and credits, is always the account balance. An account balance that falls below zero represents a net debt—for example, when there is an overdraft on a checking account. A financial account, such as a checking, savings, or investment account, represents the available cash, or current account value, through an account balance.The current value of account balances is made available by financial institutions both online and on paper statements.To know more about Account balance visit:
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secondary effects are consequences of economic actions that develop slowly over time as people react to events.
Secondary effects are the results of economic activity that emerge gradually over time as people respond to circumstances.
-True
Who defines economic activity?
When certain commodities or services are produced, an economic activity occurs when resources like labor, manufacturing processes, capital goods, and intermediary items are integrated. As a result, the characteristics of an economic activity are an input of resources, a production process, and an output of products (goods or services)
The importance of economic activity
Primary economic activities provide other industries with the raw materials they need to further develop and refine these resources into finished goods to sell to end users. The number of employees working in the primary sector is falling in both developed and developing nations.
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4. why is information so important in supply chains? what are the challenges to the successful development and implementation of effective information? what is the role of technology and information management?
Information can be a powerful tool if it is timely, accurate, managed, and shared. The challenge is the sharing of information along the supply chain and the discipline to ensure the integrity of the data collected.
Information is stimuli that have meaning in a few contexts for its receiver. whilst records are entered into and saved in a laptop, it is commonly referred to as statistics. After processing -- which includes formatting and printing output data can once more be perceived as data.
Humans use the information to seek which means in a ramification of conditions. now and again they use records instrumentally, to do something tangible (e.g., to gather a skill or attain a purpose). Other times, statistics is used cognitively (e.g., to generate ideas).
Information management is an important thing for records-pushed corporations that allows them to make higher selections and obtain dreams. Knowledge of the purpose of records control can help your enterprise beautify the use, safety, and storage of facts to operate extra efficiently.
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the fact that the value of a company such as ebay increases as more people join and use ebay is characterized as the .
The fact that the value of a company such as e - Bay increases as more people join and use e - Bay is characterized as the network effect.
What is e - bay?
eBay is an e-commerce site that helps in buying and selling the product and sometimes also a person can build on it
As the market value of the eBay company will increase new customers would join in and be a part of the company, this is called the network effect as work is increasing continuously for this E-Commerce site.
More members join a site if there are members joining and due to popularity this is the network effect.
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occurs when employees are provided with the ability to take on responsibilities and make decisions regarding all aspects of product development or customer service.
Employee empowerment occurs when employees are provided with the ability to take on responsibilities and make decisions regarding all aspects of product development or customer service.
Giving employees the freedom, tools, and support they require to act independently and be held responsible for their decisions is essential, according to the management tenet of employee empowerment. Empowerment is crucial because It works wonders for fostering creativity but less so for enhancing consistent performance. Research has repeatedly shown that when workers feel empowered at work, they perform better, are more satisfied with their jobs, and are more loyal to the company. Employee empowerment can increase employee motivation, foster employee trust in leadership, foster greater creativity, and improve employee retention, all of which contribute to a higher bottom line. Expressing gratitude for someone's efforts is one of the best ways to empower them.
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Payments used to ensure receiving the standard treatment that a business ought to receive from a foreign government, but might not due to the obstruction of a foreign official, are called.
Payments that are used to ensure acceptance of the standard treatment that businesses must receive from foreign governments, but which may not be due to obstruction from foreign officials, are called Grease Payments.
A payment system can be defined as a system used to transfer funds from one party to another. The point is that the payment system is concerned with processing payments for things such as services, goods, bills, and so on.
Payment methods are divided into two, namely cash and non-cash payment methods. The cash payment method is a payment process that occurs between one party, and another directly concerned party. This method is a conventional method that we often do face to face and hand over money.
Over the years, cashless payment methods have evolved. This payment system has been provided by various institutions with various advantages that can be felt by customers.
Therefore, this method is very liked by many people because it is practical and easy to do anywhere and anytime. Each payment method has its own advantages and disadvantages and is tailored to individual needs.
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is the practice of tying philanthropy closely to the corporate mission or goals and targeting donations to regions where a company operates.
Strategic giving is the practice of tying philanthropy closely to the corporate mission or goals and targeting donations to regions where a company operates.
What is strategic giving?Here, "strategic giving" is defined as the close coordination of the philanthropic value to be generated, the identity and preferences of the donor, the organizational vehicle through which giving occurs, the categories of activities that are financed, and the time period governing giving.
Taking these five essential actions
1. Involve your family and ascertain your motivations for contributing.
2. Specify desired results and concentrate on effect.
3. Look for top-tier nonprofit partners.
4. Ensure that any philanthropically committed funds are used to carry out your goal.
5. Assess, then adjust as necessary.
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Each department has a separate work in process account when using ______ costing.
Each department has a separate work-in-process account when using a process costing.
What is process costing?A form of procedure costing that is used to determine how much a product costs at each step or process in the manufacturing process is refer as Process costing.
When the cost of each manufactured product is considered to be equal to the cost of every other product, it is used. In this, each department has a separate work-in-process account when using a process costing.
When compared to other cost allocation techniques, process costing has the advantage of being simpler to implement when costing similar products.
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NAME 2 COSTS/DRAWBACKS OF SETTING UP A FRANCHISE?
at the end of may, bergan company had completed jobs 200 and 305. job 200 is for 2,390 units, and job 305 is for 2,053 units. the following data relate to these two jobs: on may 7, bergan company purchased on account 10,000 units of raw materials at $8 per unit. during may, raw materials were requisitioned for production as follows: 7,500 units for job 200 at $8 per unit and 1,480 units for job 305 at $5 per unit. during may, bergan company accumulated 2,500 hours of direct labor costs on job 200 and 3,000 hours on job 305. the total direct labor was incurred at a rate of $28 per direct labor hour for job 200 and $24 per direct labor hour for job 305. bergan company estimates that total factory overhead costs will be $620,000 for the year. direct labor hours are estimated to be 80,000.
The correct answer is 7.75.
Bergan Company
Jobs 200 305
Completed Job 2390 2053
Raw Material requisitoned
=(7500 units at $8) for Job 200
and (1480 at $5 ) for job 305 $60,000.00 $7,400.00
Direct Labor=(2500 Direct Labor
Hours at $28) for Job 200 and
(3000 hours at $24) $ 70,000.00 $ 72,000.00
Manufacturing Overhead=(2500
Direct Labor Hours at $7.75) for
Job 200 and(3000 Direct Labor
Hoursat $7.75) ofr Job 305 $ 19,375.00 $ 23,250.00
Balance on the job cost sheet $149,375.00 $102,650.00
Jobs 200 305
Completed Job 2390 2053
Balance on the job cost sheet $149,375.00 $102,650.00
Cost per unit $ 62.50 $ 50.00 Predetermined Rater=(Estimated
Overhead cost/Estimated Labor
Hours)=($620000/80000) $ 7.75
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in what ways does effective marketing benefit society? (select all that apply) multiple select question. it reduces competition in world markets. it improves the quality of products and services. it provides jobs. it raises the standard of living.
The ways that effective marketing benefits society include:
it improves the quality of products and services. it provides jobs. it raises the standard of living.What are the benefits of marketing benefits?Effective marketing does not only mean finding ways of selling goods and services but also finding out what consumers want and providing it for them.
This is why effective marketing can be said to improve the quality of products and services. This improved quality leads to an increased standard of living. Jobs will also be provided as more hands are needed to produce goods and services.
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Does having social responsibility make you viewed more or less favorable by consumers?
Answer:
Depends on the person but probably not
Explanation: