All categories

1 year ago

Economic systems differ from one another based on who owns the factors of production and.

1 answer:

5 0

Economic systems differ from one another based on who owns the factors of production and. <u>Who make decisions regarding what to produce and how it is produced</u>

<u />

<h3>What is Economic systems?</h3>

An economic system is a mechanism by which societies or governments manage and distribute public resources, services, and goods across a geographic region or nation. Economic systems control the factors of display, including land, capital, labor, and material resources.

<h3>What is represented by economic system?</h3>

An economic system is a means with the help of which the government plans and issues accessible services, resources, and things across the country. Economic systems manage aspects of production, combining wealth, labour, physical resources, and industry people.

To learn more about economic system, refer

brainly.com/question/26360576

#SPJ4

Complete Question is,

A. How much resources are available in the economy and where they are located

B. Who make decisions regarding what to produce and how it is produced

C. What kinds of products are produced in the economy and how plentiful they are

D. How big the population is, and the makeup of the population

You might be interested in

A constant debt-to-GDP ratio in a growing economy is consistent with:

Cloud [144]

Is consistent with : a continual surplus

Debt-to-GDP ratio represent the ratio between a country's government debt and its GDP. Low debt to GDP ratio indicates an economy which could produce a great amount of goods and service while still able to pay their debt.

If the debt to GDP ratio is constant while the economy is growing, it's mean that that country always has a surplus.

5 0

3 years ago

The Flores Family loves to go sailing on the weekends. Mr. Flores has decided to purchase a more spacious sailboat. The sailboat

zavuch27 [327]

Answer:

$367.86

Explanation:

To calculate this, we use the formula for calculating future value annuity (FVA) due as follows:

FV = M × {[(1 + r)^n - 1] ÷ r} × (1 + r) ................................. (1)

Where,

FV = Future value of an annuity or the cost of sailboat = $20,000

M = Amount of each annuity or to deposit monthly = ?

r = Monthly interest rate = 0.06 ÷ 12 = 0.005

n = number of months = 4 years × 12 = 48

Substituting the values into equation (1), we have:

20,000 = M × {[(1 + 0.005)^48 - 1] ÷ 0.005} × (1 + 0.005)

20,000 = M × 54.3683213801713

Making M the subject of the formula and solve, we have:

M = 20,000 ÷ 54.3683213801713 = $367.86

Therefore, Mr. Flores should deposit $367.86 in this account at the beginning of each month to be able to pay cash for the sailboat in 4 years.

8 0

3 years ago

A building was purchased for $66,500. The asset has an expected useful life of eight years and depreciation expense each year is

Sidana [21]

Answer:

$34,500

Explanation:

Depreciation is the systematic allocation of the cost of an asset to p/l based on its estimated useful life.

Assets are initially recorded at cost be carried subsequently at the net book value which is the cost less residual or salvage value then divided by the estimated useful life. Mathematically, using the straight line method,

Depreciation = (cost - residual value)/useful life

let the residual value ( which is the estimated value obtainable from the disposal of the asset at the end of its estimated useful life) be p

4000 = (66500 - p)/8

32000 = 66500 - p

p = 66500 - 32000

= $34,500

4 0

3 years ago

When a movie theater charges a lower ticket price for senior citizens and/or students, the movie theater is engaging in_________

MariettaO [177]

Answer:

b) third-degree price discrimination.

Explanation:

The price gouging happens on prices when is carried out by the seller, goods, services or goods to a higher level than what is considered acceptable or fair and potentially considered unethically. This usually occurs after a demand or supply shock. Common examples include price increases for basic needs after hurricanes or other natural disasters.

First-degree discrimination (perfect price discrimination) appears when a business charges the maximum possible price for each unit consumed because prices are diverse among some units. In this case, where a company charges a different price for every good or service sold.

Second-degree price discrimination is the concept in which a company charges a different price when there are demands for different quantities consumed, such as quantity discounts on bulk purchases.

Third-degree price discrimination is the case in which a company charges a different price to different consumer groups. This is the type of most common type of price discrimination. If we see in the question there is given distinctive ticket price offers to senior citizens and/or students. That’s why we should choose third-degree price discrimination.

8 0

3 years ago

Sale of partnership interestThe partners in the Biz Partnership have agreed that partner Mandy may sell her $100,000 equity in t

ddd [48]

Answer:

Mandy Capital Debit: 100,000

Brittney Capital Credit: 100,000

Explanation:

The journal entry will be recorded as above. Mandy sold equity worth $100,000, so we will record the entry on transfer of equity by the equity value sold. Now, for this equity value both partners can decide the amount in which one will sell to other, which in this scenario is $85,000.

5 0

3 years ago