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3 years ago

Define the following: 1. Allocation of resources 2. Economic system 3. Market economy

Business

2 answers:

denis-greek [22]3 years ago

8 0

Allocation of resources is the assignment of available resources to various uses.
Economic system is a system of production, resource allocation and distribution of goods and services within a society or a given geographic area.
Market economy is an economic system where supply and demand, direct the production of goods and services.

zlopas [31]3 years ago

4 0

1. Allocation of resources

apportionment of productive assets among different uses.

2. Economic system

by which societies or governments organize and distribute available resources, services, and goods across a geographic region or country.

3. Market economy

an economic system where two forces, known as supply and demand, direct the production of goods and services.

eg: US, Japan

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Anita Job is the new Treasury Secretary, and she is trying to interpret the inflation measures for two consecutive years. In yea

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Answer:

Anita uses Consumer Price Index (CPI) as the term to describe the change in the price level from year one to year two.

Explanation:

Since Inflation is measured as the rate of change of those prices from 9% in year 1 to 5% in year 2. The most well-known indicator of inflation is the Consumer Price Index (CPI), which measures the percentage change in the price of a basket of goods and services consumed by households.

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4 years ago

The invention of maize (a type of corn) plastics, which are more environmentally friendly than their petroleum counterparts, can

Firlakuza [10]

Answer:

5) Natural

Explanation:

The two main natural environment trends in marketing are:

natural resources used as inputs that substitute other traditional raw materials (e.g. corn replacing plastic)
consumer aversion to increased pollution or an increase in environmental negative effects (e.g. cutting down rainforests)

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3 years ago

CompuGlobal is an American firm producing computers. CompuGlobal imports computer components from Taiwan and assembles them dome

hjlf

Answer: 110%

Explanation:

The effective rate of protection is used in measuring the final tariff in a particular sector and it's expressed as:

g = (t -ai,ti) / (1 - ai)

where,

g = effective protection rate

ai = nominal tariff rate = 0.6

t = cost of intermediate input = 0.5

ti = nominal tariff on intermediate input = 0.1

The computer price here is $800 while the input price is 60% of $800 which will be:

= 60% × $800 = $480

nominal tariff rate = 480/800 = 0.6

Nominal tariff on final goods, t = 50% = 0.5

Tariff on imported input, ti = 10% = 0.1

Using the formula:

g = (t -ai,ti) / (1 - ai)

g = [0.5 - (0.6×0.1)] / (1 - 0.6)

g = (0.5 - 0.06) / 0.4

g = 0.44/.0.4

g = 1.10

g = 110%

The effective rate of protection is 110%

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3 years ago

The money being made in a company. A)Obsolesce B)Solvency C)Revenue D)Debt

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3 years ago

Which of the following is not a determinant of a consumer's demand for a commodity?

uranmaximum [27]

Answer:

Law of Diminishing Marginal Utility

Explanation:

Demand refers to the volume of a product or service consumers are willing to buy at a given price over time. Demand is high when customers are willing to buy more of a product. Several factors influence the demand levels of a product. They include

Consumers preferences and tastes
consumers income
prices of related goods
consumer expectation on future prices
number of consumers in the market
Income distribution

The law of diminishing marginal returns associates the utility derived from an additional input while holding other factors constant. The law claims that the marginal utility of an input declines as its supply increases. It does not influence the demand for a product in any way.

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