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Papessa [141]
3 years ago
10

What is the difference between a command economy and a traditional economy?

Business
1 answer:
Debora [2.8K]3 years ago
8 0
A traditional economy is an economy wherein the people primarily subsists on growing their own food and produce. Usually, just about the right amount is produced and if there is any excess, it is given to the local lords. Also, bartering is the main practice of trading in a traditional economy. In a command economy, it is a dictator who will dictate who should make what and how much of a certain product should be made. The government will also decide at what price the people will price the products. 
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Lani's generated net income of $911, depreciation expense was $47, and dividends paid were $25. Accounts payables increased by $
guajiro [1.7K]

Answer:

What was the net cash flow from operating activity? $959

Explanation:

Net Income                 911  

Addition to cash    

Depreciation                   47  

 

958  

 

Operation activities  

Account Payable               15 Increase

Account receivables      -28 Increase

Inventory                         14 Decrease

 

Cash flow from

operating activities      959  

5 0
3 years ago
Suppose that GDP is $50 million in 2015 but falls to $48 million in 2016, and that no changes in personal consumption expenditur
Minchanka [31]

<u>Solution and Explanation:</u>

GDP is calculated as follows:

Y = C + G + I + NX

where

C = Consumption

G = Government Expenditure

I = Investment

NX = Net Exports

It is mentioned that in 2015, GDP was 50 million and in 2016, it was 48 million without any change in the factors except NX. It means the net exports that is the difference between export and the import of the country has changed and it has fallen by 2 million.

8 0
2 years ago
Opportunity cost is defined as A. the monetary expense associated with an activity. B. the highest valued alternative that must
Ratling [72]

Answer:

B. the highest valued alternative that must be given up to engage in an activity.

Explanation:

Opportunity Cost is the cost of next best alternative foregone while choosing an alternative.

Eg1: If I like Chapati more than rice & rice more than curd, the opportunity cost of consuming chapati is the next best option i.e rice.

Eg2 : Working as school teacher with salary 20000, next best option salary as coaching tutor i.e 10000 is the Opportunity Cost

A is inapt : Opportunity cost can be monetary or non monetary. Eg2 has monetary opportunity cost. But, Eg 1 has opportunity cost in terms of rice' (sacrifised) satisfaction.

C is inapt : Opportunity cost is only the cost of next best alternative & not all alternatives. Eg1 - Curd i.e 3rd best option after chapati, is not the opportunity cost after chapati.

4 0
3 years ago
How many people lost their jobs when the minimum wage increased from $12 to $18
Inessa05 [86]
I would say 33.. But im not 100% sure
3 0
2 years ago
Regina pays her credit card balance in full each month. Last month her average daily balance was $345 and the APR is 11.2%. The
blondinia [14]

Answer: The correct answer is False.

Explanation: When a customer pays off their credit card balance in full each month there is not a finance charge, which makes this answer false. Interest in not charged to a credit card account until the prior month’s balance is not paid in full.

6 0
3 years ago
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