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CaHeK987 [17]
2 years ago
10

When collective decision making is utilized to resolve economic questions regarding the allocation of resources,

Business
1 answer:
Nataly [62]2 years ago
6 0

When collective decision making is utilized to resolve economic questions regarding the allocation of resources, the role of markets will be replaced by political decision making.

What is a collective decision?

When two or more individuals analyze, choose, or use a good or service, collective decision-making is taking place. Members participate in the decision-making process in both families and organizations in a variety of ways.

How do economists solve the problem of scarce resources?

The government decides what to produce and allocates the resources according to its decisions. Another method the governments use to solve the problem of scarcity is by raising prices, but they must make sure that even the poorest consumers can afford to buy it.

Learn more about scarcity of resources: brainly.com/question/17766279

#SPJ4

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Income Statement, Retained Earnings Statement, and Balance Sheet The amounts of the assets and liabilities of Glacier Travel Ser
pashok25 [27]

Answer:

  Income Statement Dec. 31, 20Y6

<u>           Glacier Travel Service                 </u>

Total revenue                        $900,000

- Wages expense                 ($425,000)

- Rent expense                     ($180,000)

- Utilities expense                 ($75,000)

- Supplies expense               ($38,000 )

<u>- Miscellaneous expense     ($37,000) </u>

EBIT                                        $145,000

<u>- Taxes                                   ($30,000)</u>

Net profit                                $115,000

4 0
3 years ago
Tore Company's records reveal the following information regarding its inventory. Beginning inventory was $100,000 at cost and 16
vodka [1.7K]

Answer:

$150,000

Explanation:

Ending inventory, the value of goods available for sale at the end of the accounting period, plays an important role in reporting the financial status of a company and can best be figured out using the equation,

Ending Inventory = Beginning Inventory + Net Purchases - Cost of Goods Sold (or COGS)

Beginning Inventory = $160,000 in retail

Net purchases = $500,000 in retail +$10,000 Markups

Cost of goods sold = $500,000

So, End Inventory = 160,000+500,000+10,000-500,000

End Inventory = $150,000

4 0
3 years ago
the length and Length breadth and height of a room in a house are 8m 6m and 4m respectively the house on a decides to paint the
trasher [3.6K]

Answer:

Cost\ of\ 112m^2 = 4.48

Explanation:

Given

<u>Dimension</u>

Length= 8m

Breadth = 6m

Height = 4m

Cost per m^2 = 0.04

Required

Determine the total cost to paint 4 walls

First, we need to calculate the area of the 4 walls.

Area = 2*(Length * Height) + 2 *(Breadth * Height)

Substitute values for Length, Breadth and Height

Area = 2*(8m* 4m) + 2 *(6m* 4m)

Area = 2*(32m^2) + 2 *(24m^2)

Area = 64m^2 + 48m^2

Area = 112m^2

Cost per m^2 = 0.04.

Cost\ of\ 112m^2 = 112 * 0.04

Cost\ of\ 112m^2 = 4.48

8 0
3 years ago
Why do you think so many people borrow money for large purchases instead of using a sinking fund
sergey [27]
It is so they have more money for the business
6 0
3 years ago
The definition of market equilibrium states that at the _______________, the quantity of labor demanded by employers will equal
puteri [66]

The definition of market equilibrium states that the quantity of labor demanded by employers will equal the quantity supplied at an equilibrium wage.

<h3>What is an equilibrium?</h3>

The point at which the forces of demand and supply are equal from both the sides, and there is an expression of a perfect competition in the market, such point is known as an equilibrium.

Hence, option B holds true regarding equilibrium.

Learn more about equilibrium here:

brainly.com/question/13524990

#SPJ1

3 0
2 years ago
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