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2 years ago

What is economy? economic basics study question 2

1 answer:

6 0

The study that tells about the production, usage and distribution of goods and services among the people of the nation is called the economy.

<h3>What is production?</h3>

Production is the process of making finished goods by converting them from its raw materials.

Economy is referring to the study that describes the manufacturing, consumption and distribution of the goods and services among the citizens of the country. The field which studied about economy is called Economics.
It could be inclusive of customers, business firms and the government. The customers are the ones who acquire the goods for satisfying his/her wants.
The business houses are the entities that made the goods and then make it available in the market for sale to the customers. The government is the authority who regulate the equal distribution of goods to each and every people of the country.

Therefore, the economy is briefly explained above.

Learn more about the manufacturing process in the related link:

brainly.com/question/27908364

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You might be interested in

Given the following owner’s income and expense estimates for an apartment property, formulate a reconstructed operat-ing stateme

scoundrel [369]

Answer:

$363,000

Explanation:

Calculation for the property’s indicate market value.

First step

Operating Statement

PGI: $66,000

(10 units x $550 x 12 month )

Less: Vacancy Loss(3,300)

(5%*66,000)

EGI:62,700

Less: Operating Expenses

Power$2,200

Heat1,700

Janitor4,600

Water3,700

Maintenance4,800

Management3,000

Reserve for CAPX2,800

Total Operating Expenses$22,800

Net Operating Income$39,900

(62,700-22,800)

Second step is to find the property’s indicate market value.

Using this formula

Market Value=NOI/ Ro

Let plug in the formula

Market Value=$39,900/11.0%

Market Value=$363,000

Therefore the property’s indicate market value is

$363,000

6 0

3 years ago

Suppose that the country of Samiam produces only eggs and ham. In 2005 it produced 100 dozen eggs at $3 per dozen and 50 pounds

kozerog [31]

Answer:

d. nominal GDP is $500, real GDP is $400, and the GDP deflator is 125.

Explanation:

Real GDP is total output produced in an economy within a given period multiplied by base year prices

Nominal GDP is the sum of all final goods and services produced in an economy within a given period multiplied by current year prices.

Nominal GDP = (100 × $3) + (50 × $4) =

$500

Real GDP = (100 × 1.5) + (50 × $5) = $400

GDP deflator = (nominal gdp / real gdp) x 100

(500 / 400) × 100 = 125

I hope my answer helps you

6 0

3 years ago

All transactions ______. (Select all that apply.) Multiple select question. have at least two effects on the accounting equation

lys-0071 [83]

All transactions b. affect assets, liabilities, and/or stockholders' equity, and d. must affect both assets and stockholders' equity.

<h3>What is the accounting equation?</h3>

The accounting equation shows that assets are equal to liabilities and equity.

The implication of the accounting equation is that every transaction has at least two effects on the elements of financial statements, given their linkages.

Thus, the correct options are Options B. and D.

Learn more about the accounting equation at brainly.com/question/24401217

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5 0

2 years ago

Abigail is a manager at her company. The company just launched an initiative to improve its corporate citizenship practices. Abi

Fofino [41]

Answer:

The correct option is A,safeguarding shareholders' interests

Explanation:

Showing integrity and ethical behavior comes under a company portraying itself as a good corporate citizen in order to endear itself to stakeholders, however the responsibility of safeguarding shareholders' interests is the fundamental and not necessarily falls under ethical behavior as the primary reason for the creation of the business in the first place is to enhance maximization of shareholders' wealth

Disclosure and transparency as well as vigilance of the board of directors are both required in order to ensure the wealth of owners are enhanced.

6 0

3 years ago

On December 15, 2018, Rigsby Sales Co. sold a tract of land that cost $3,700,000 for $5,000,000. Rigsby appropriately uses the i

xxTIMURxx [149]

Answer:

$127,400

Explanation:

Gross profit ratio = [(sale - cost) ÷ sale price] × 100

= [($5,000,000 - $3,700,000) ÷ $5,000,000] × 100

= 0.26 × 100

= 26%.

Gross profit on down payment is recognized in 2019:

= Down payment × Gross profit ratio

= $490,000 × 26%

= $127,400

5 0

3 years ago