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1 year ago

in which economy below are private owners most concerned with developing wealth? capitalism mixed market socialism communism

Business

1 answer:

vaieri [72.5K]1 year ago

4 0

Private owners' primary aim in capitalism is money creation.

A system of economics referred to as "capitalism" is one that promotes private ownership of the tools of creation, distribution, and exchange in order to generate profit. In this system, the market decides the production and pricing of the goods and services, hence supply and demand dynamics are very important.

An economic system known as capitalism is one in which private individuals own and manage the trade and industries of the economy in order to profit.

What is Capitalism:

Capitalism, which includes both the working class and the capitalist class, supports class differentiation, there is a significant gap between the rich and the poor. On the other hand, communism is opposed to class inequalities in society since it supports a society in which there is no distinction among the rich and the poor.

In a capitalist society, everyone is responsible for generating their own wealth. Contrarily, in communism, wealth is dispersed in accordance with needs and capacity. While there is intense competition between businesses in capitalism, this is not the case in communism, because the government controls the market. While capitalism exists in western nations, socialism is more prevalent in eastern nations.

Learn more about Capitalism:

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Naddik [55]

Answer:

$11.165 unfavorable

Explanation:

The formula to compute the variable overhead efficiency variance is shown below:

= (Actual direct labor hours - standard direct labor hours) × variable overhead per hour

where,

Actual direct labor hours is 2,975

And, the standard direct labor hours equal to

= 250 units × 9

= 2,250

Now put these values to the above formula

So, the value would equal to

= (2,975 - 2,250) × $15.40

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3 years ago

During the year ended December 31, 2018, Kelly’s Camera Shop had sales revenue of $180,000, of which $90,000 was on credit. At t

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Answer:

(a) On December 10, a customer balance of $1,400 from a prior year was determined to be uncollectible

Dr Sales Returns and Allowances $ 1,400

Cr Accounts Receivable $ 1,400

(b) On December 31, a decision was made to continue the accounting policy of basing estimated bad debt losses on 2 percent of credit sales for the year.

Dr Bad Debt Expense $ 752

Cr Allowance for Uncollectible Accounts $ 752

Explanation:

Initial Balance

Dr Accounts Receivable $ 12,000

Cr Allowance for Uncollectible Accounts $ 500

Kelly’s Camera Shop had sales revenue, of which $60,000 was on credit

Dr Accounts Receivable $ 60,000

Cr Sales $ 60,000

Collections of accounts receivable during 2018 amounted to $58,000.

Dr Cash $ 58,000

Cr Accounts Receivable $ 58,000

(a) On December 10, a customer balance of $1,400 from a prior year was

determined to be uncollectible, so it was written off.

Dr Allowance for Uncollectible Accounts $ 1,400

Cr Accounts Receivable $ 1,400

(b) On December 31, a decision was made to continue the accounting policy of basing estimated bad debt losses on 2 percent of credit sales for the year.

Dr Bad Debt Expense $ 752

Cr Allowance for Uncollectible Accounts $ 752

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3 years ago

If import restrictions prohibit foreigners from selling various goods and services in the U.S. market,

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Answer:

The correct answer is option b.

Explanation:

When foreign producers sell their goods and services in the US market they get US dollars in return. They use these dollars to buy goods and services from the US.

If import restrictions prohibit foreigners from selling various goods and services in the U.S. market, foreigners will have fewer U.S. dollars which they can spend to buy U.S. goods and services. So they will be able to purchase fewer goods and services from the US.

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3 years ago

Town A, in one hour, can produce either 4 hotdog buns, or 10 sausages. Town B, in one hour, can produce either 8 hotdog buns, or

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Answer:

The answer is 27 hours

Explanation:

Solution

The Comparative advantage depends on production of the lower opportunity cost

The opportunity cost of a production is =maximum production of other good /maximum production of the good

Now,

The opportunity cost of hot dog bun for town A =10/4=2.5

Thus,

The opportunity cost of hot dog bun for town B=6/10=0.6

So,

The town B has a comparative advantage in hot dog buns and A in sausages

Town A will produce-only sausages and it will take the time of

time in hours =total required a quantity of the good /number of products in an hour

Now,

The time for Town A for sausages=120/10=12 hours

The time for Town B for hot dog buns=120/8=15 hours

Therefore, The total time =12+15=27 hours.

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3 years ago

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vagabundo [1.1K]

Answer:

Explanation:

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3 years ago