All categories

1 year ago

Buyers and sellers negotiate prices for goods and services through supply and demand in a(n) ________ economy.

1 answer:

7 0

Buyers and sellers negotiate prices for goods and services through supply and demand in a market economy, as well as as the quantities of those goods.

<h3>What is market economy?</h3>

The economic system known as market economy relies on the law of supply and demand, which states that, when the price of a product is raised, its supply increases but the demand decreases. On the other hand, if the price is lowered, the supply decreases while the demand increases.

In other words, buyers and sellers are constantly negotiating prices in a market economy, even if it is indirectly. Think about a product you buy often, such as milk. If the price is raised, you and many others may end up not buying milk for a while. Precisely because you stop buying milk, the producer will eventually lower the price, so you start buying milk again.

With the information above in mind, we can conclude that the correct answer for this question is market economy.

Learn more about market economy here:

brainly.com/question/11471834

#SPJ4

You might be interested in

Question 433 pts Implementation of the law Group of answer choices is typically done by the members of Congress. is typically au

Eddi Din [679]

Answer:

Implementation of the law Group of answer choices requires judgment because laws are often very vague.

Explanation:

Originally, The Executive arm of government is supposed to implement the law while the congress which is also called the legislative arm enacts them.

However, It is necessary for the judiciary to interpret the laws since the executive arm tends to abuse their privileges thereby failing to implement the law.

The law is vague and is often subject to interpretation. The judges constitute a neutral body that balances power in government by passing judgement on erring officials and the entire citizenry thereby making implementation of the law possible.

7 0

2 years ago

In addition to other factors, knowing how customers arrive at their _______ is critical to developing successful pricing strateg

slega [8]

Answer:

perceptions of value

Explanation:

In sales jargon, perceived value or value of perception is refers to the appraisal of the quality of a products or services by the consumers and their ability to satisfy their demands and expectations, particularly when compared with their competitors. Marketing experts attempt to influence the potential value of a company to customers by defining the qualities which render it advantageous to the rivalry.

Perceived value ultimately boils down to just the quality of a commodity that the customer is prepared to pay. Even a quick decision taken in the supermarket of a shop requires an appraisal of the potential of a company to satisfy a need and deliver value relative to other goods with different aliases.

3 0

3 years ago

On January 1, Year 1, Li Company purchased an asset that cost $25,000. The asset had an expected useful life of five years and a

NeX [460]

Answer:

Amount of depreciation expense =$5,250

Explanation:

Under the straight line method the same amount is charged as depreciation expense over the estimated useful life of the asset

Initial depreciation = cost - salvage value /number of years

= (25,000 -5000)/5

= 4000 per year

Accumulated depreciation for 4 years= 4000× 3 = 12,000

Revised depreciation = (25,000 -12,000 - 2500)/2

=$5250 per year

Amount of depreciation expense for year 4 =$5250

8 0

2 years ago

Training is the hidden cost associated with ERP implementations that is considered the most under-estimated.

algol [13]

Answer:

TRUE

Explanation:

Training is the hidden cost associated with ERP implementations that is considered the most under-estimated because at the initial stage of Enterprise resource planning software purchase, only the cost of purchase and installation is considered. However the software cannot be used without training the users on how to use the software.

Such training costs are sometimes as significant as 25% or more of the cost of the software and these costs are not included in the list price of the purchase of the ERP. Furthermore even when the training costs are estimated, they are often under-estimated as the number of users may increase with time as the organisation grows.

4 0

3 years ago

Net credit sales for the month are $4,000,000 for Marx Clothiers. Its accounts receivable balance is $160,000. The allowance is

AnnyKZ [126]

Answer:

Credit balance of $12,000

Explanation:

To calculate the balance of the allowance for doubtful accounts we need to multiply the total accounts receivable times the percentage of estimated bad debts:

$160,000 x 7.5% = $12,000

Since allowance for doubtful accounts is a contra asset account, when it increases it should be credited.

4 0

2 years ago