<span>Entrepreneurs are considered to be both spark plugs and catalysts of the free enterprise economy because of a number of reasons. Everybody benefits and profits when an entrepreneur becomes successful. When an entrepreneur opens his or her search for profits, the effects would be a chain of events where new products, greater competition, more production, higher quality, and lower prices for consumers can be observed. An entrepreneur is said to be a spark plug in the free-market for there is that vision of providing a product or a service that people are willing to pay for, combined with the ability to produce that product or service at a cost below the market sales price which propels him/her to take action. Capitalism will not work if it were not for the entrepreneurs who take the risks and start the businesses that produce the goods and services we all enjoy.</span>
Answer:
Explanation:
a. Accounts Payable
Payments on account $303,500 | Beginning balance $154,000
| Purchases on account $283,000
|
| Ending balance $133500
b. Accounts Receivable
Beginning balance $103,500 | Cash receipts on account $103,890
Sales on account $91,390 |
|
Ending balance $91,000 |
c. Cash
Cash receipts $104,500 | Cash disbursements $105,150
Beginning balance $20,250 |
|
Ending balance $19,600 |
GDP measures the value of all the final products and services in terms of money. Option C) explains the behavior of GDP.
<h3 /><h3>What is GDP?</h3>
Gross domestic product (GDP) measures the value of all the final products and services in terms of money, produced by countries over a given time period usually a year.
The behavior of real GDP over time changes but follows a downward sloping trend line if a country is sustaining a healthy rate of growth.
Therefore option C) describe the behavior of GDP.
Learn more about GDP here:
brainly.com/question/15899184
Answer:
change in demand; shift of the demand curve.
Explanation:
We know that income elasticity of demand derives by considering the percentage change in quantity demanded and percentage change in income
In mathematically,
Income elasticity of demand = (percentage change in quantity demanded) ÷ (percentage change in income)
By considering the above information, the change in income preferences is due to change in demand plus it also shift of the demand curve
