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Vlada [557]
1 year ago
8

When a shortage exists in a competitive market, the price provides incentives for:______.

Business
1 answer:
NISA [10]1 year ago
7 0

When a shortage exists in a competitive market, the price provides incentives for Buyers to decrease the quantity of a good or service purchased to the market.

More about shortage:

In terms of economics, a shortage occurs when there is a discrepancy between the amount supplied and the quantity sought at the going rate.

Three factors primarily contribute to shortages: rising demand, falling supply, and government action. The term "scarcity" ought not to be confused with "shortage" as it is used in economics.

Command economies experience higher shortages. Here, the government refuses to let the forces of supply and demand determine the price of a good or service on the open market.

Learn more about shortage here:

brainly.com/question/14592344

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2 years ago
Accounts and Notes Payable On February 15, Barbour Industries buys $800,000 of inventory on credit. On March 31, Barbour approac
Anettt [7]

Answer and Explanation:

The journal entries are shown below:

On Feb 15

Purchases     $800,000

      To Accounts payable    $800,000

(Being the purchase of inventory on credit is recorded)

On Mar 31

Accounts payable $800000

      To Notes payable  $800000

(Being the issuance of note is recorded)

On Sept 30

Notes payable    $800,000

Interest expense   $40,000

            To Cash  $840,000

(Being the payment of note and interest is recorded)

The interest expense is computed below:

= $800,000 ×  10% × 6 months  ÷ 12 months  

= $40,000

The six months is calculated from Mar 31 to Sep 30

Only these entries are passed

5 0
3 years ago
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faust18 [17]

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The main key function of the commercialization stage is that achieve the various types of commercial success and also the customer support of the new products. It is mainly the process introduce the new products in the market.

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Explanation:

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