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2 years ago

What are the 3 goals of a free market system?

1 answer:

6 0

The individual ownership of markets resources. Free economies flourish because the private sector, as opposed to a single government agency, owns a substantial percentage of the resources.

The financial markets that are thriving. liberty to take part. Market economies often support economic liberty, effectiveness, and expansion (with full employment being a desirable side effect of these choices). Other objectives like equity, security, price stability, and economic sustainability are occasionally sacrificed since open markets promote competition and bargaining. The market players' free competitiveness is encouraged in a market economy. The enhanced productivity, innovation, and efficiency of a market economy are notable advantages.

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Calculate and Use Overhead Rate Chipman Corporation expects to incur $300,000 of factory overhead and $500,000 of general and ad

tatyana61 [14]

Answer:

$1,500

Explanation:

Given that;

Factory overhead = $300,000

General and administrative costs= $500,000

Direct labor cost = $500,000

Total direct labor hours = $500,000 /$25 per hour

= 20,000 direct labor hours

Factory overheads per direct labor hours = $300,000 / 20,000

= $15 per direct labor hour

Therefore, Overheads applied to job will be;

= 100 direct labor hours × $15 per direct labor hour

= $1,500

Overhead applied is $1,500

7 0

3 years ago

Today, you turn 21. Your birthday wish is that you will be a millionaire by your 40th birthday. In an attempt to reach this goal

Degger [83]

Answer:

rate of 0.000171716533316905 = 0.017% daily

Explanation:

we need to solve for the rate of an annuity for 19 years with daily deposits of 75 dolllars to yield a principal of 1,000,000 dollars

365 days x 19 years = 6,935 days

we use goal seek on excel as follow:

on A1 we write 0.01 this will be a placeholder for the rate

then on A2 we write =FV(A1;6935;75)

then with goal seek we definethat we want A2 equal to 1,000,000 changing A1 (rate)

which give us:

0.000171717 = 0.017% per day to achieve the goal:

$C \times \frac{(1+r)^{time} -1}{rate} = FV\\$

C 75

time 6935

rate 0.000171717

$75 \times \frac{1-(1+0.000171716533316905)^{-6935} }{0.000171716533316905} = FV\\$

FV $999,999.9999

7 0

3 years ago

Snipe Company has been purchasing a component, Part Q, for $19.20 a unit. Snipe is currently operating at 70% of capacity and no

Elodia [21]

Answer:

See Explanation.

Explanation:

The company is incurring a relevant loss on purchase of Q rather than manufacturing it as,

When there is spare capacity only the relevant costs are identified to see if the decision to buy or make is worth it.

Since the factory fixed overhead is to be paid regardless of manufacturing Q, it should not be included in the estimations and the total cost of manufacturing Q should be

Direct Material + Direct Labor + Variable overheads

So Direct costs = 11.5 + 4.5 + 1.12 = $17.12

So the loss the company is incurring by purchasing Q = $19.20 - 17.12

Loss = $2.08/Q

Differential effect on the income is $2.08/ purchase of Q.

This can be avoided and thus Snipe should consider manufacturing Q rather than purchasing it as relevant direct costs give it an opportunity to make savings as there are no planned increases in production anyway.

Hope that helps.

8 0

3 years ago

What is most likely the cause of an increase in demand? An increase in salary

Anestetic [448]

Answer:

Alternative products

Explanation:

Most of the times, people look at the quality of a product which increases the demand, even though the price is high

5 0

3 years ago

Suppose the economy is initially in long-run equilibrium. the fed enacts a policy to:____.

adell [148]

Suppose the economy is initially in long-run equilibrium. the fed enacts a policy to the Fed.

The structure or conditions of economic life in a country, region, or era: the economic system. 2a: Economical and Efficient Use of Material Resources: Thrifty Spending: Example or Means of Savings: Savings.

The economy is defined as the management of financial affairs in a community, business, or family. An example in economics is the US stock market system. Careful use of assets, resources, etc. Reduce waste through careful planning and use. economical or frugal use.

Learn more about the economy at

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4 0

2 years ago