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CaHeK987 [17]
1 year ago
10

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

Business
1 answer:
Nataly [62]1 year 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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The adjusted trial balance for China Tea Company at December 31, 2021, is presented below:
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Answer:

Kindly check attached picture

Explanation:

Given the details below

Accounts Debit Credit

Cash $16,000

Accounts receivable 162,000

Prepaid rent 10,000

Supplies 31,000

Equipment 370,000

Accumulated depreciation $129,000

Accounts payable 11,000

Salaries payable 3,500

Interest payable 1,900

Notes payable (due in two years) 37,000

Common stock 210,000

Retained earnings 176,100

Dividends 27,000

Service revenue 360,000

Salaries expense 150,000

Advertising expense 75,000

Rent expense 18,000

Depreciation expense 32,000

Interest expense 2,500

Utilities expense 35,000

Totals $928,500 $928,500

Prepare an income statement for China Tea Company for the year ended December 31, 2021

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2 years ago
Mo Meek, Lu Ling, and Barb Beck formed the MLB Partnership by making capital contributions of $79,200, $308,000, and $492,800, r
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Select the three soft skills. A. self-awarness B. using a computer C. persistence D. stress management E. holding a meeting
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When working with a client who has COPD (stable and medically cleared for exercise) and likes swimming, you should recommend the
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You should recommend that they swim:

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A real estate licensee typically allows the licensee to A) give tax advice to a prospective purchaser of real estate. B) provide
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