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3 years ago

How can you differentiate between various economic systems that exist

Business

1 answer:

liubo4ka [24]3 years ago

3 0

Answer:

An economic system is defined by the way scarce resources are distributed in an economy.

There are 4 types of major economic systems which are following;

A mixed economy is an economic system, like its name is a mix of elements of planned economies, free markets with intervention of the state and public enterprises.
A command economy is a system where the government is key decision maker of what goods and services will be produced and introduced by the economy.
A market economy is the one in which the investment, production and distribution are dictated by the forces of demand and supply.
A traditional economic system is a result of customs, history and cultural norms which include the rules and manner of their distribution as well.

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interest cost (the increase in pension costs due to the passage of time), the expected return on plan assets (the amount that ma

marishachu [46]

Answer:

The change in operating income for GM is that the operating income will increase by the amount of other pension costs less expected returns.

However, this change will not affect the net income, as all the items will still be accounted for, accordingly.

Explanation:

GM's pension service cost is the present value of the amount that the GM is required by law to set aside annually to meet its employees' pension-benefits obligations. The reason for the separation is that the service cost is a compensation cost, whereas other pension costs are financial costs and not compensation costs. By this separation, the operating income of GM will increase.

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2 years ago

A higher marginal income tax rate reduces incentives to work because

svetoff [14.1K]

An increase in the marginal income tax rate is likely to decrease the quantity of labor supplied. because the increase in the tax automatically reduces the profit of the firm. the management will always try to compensate their loss by taking necessary reforms or measures. the first and simplest method to reduce the loss is to cut down the expense by reducing the labour involved.

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3 years ago

The cost to produce tooth paste has increased by 1000%. This has caused the price to quadruple, but the demand has remained the

erica [24]

Answer:

Inelastic

Explanation:

In the given question,the cost to produce the toothpaste has increased, which led to the increase in the price of the toothpaste significantly. But there is no change in the demand of the toothpaste.

Hence, this product is inelastic.

In the inelastic demand, the demand of the product does not change with any variation in the price of the product.

6 0

3 years ago

As a result of a thorough physical inventory, Horace Company determined that it had inventory worth $320,000 at December 31, 201

zimovet [89]

Answer:

The correct answer is option b) $367,000

Explanation:

Here for calculating the correct amount of inventory that Horace should report can be calculated through, by adding the inventory worth $320,000 at 31 December, 2015 with consignment given to Herschel worth $47,000, SO

Correct amount of inventory =

Amount of inventory on 31 December

Consignment given to Herschel

= $320,000 + $47,000

= $367,000

Here we are taking Herschel consignment in to account and that too at the historical purchase cost because Horace company has give the Herschel to sell the goods on his behalf but the transfer of ownership has not taken place here , the right to ownership here remains with the Horace and the amount at which they should be recorded is at purchase cost not selling cost.

We will also not include goods worth $ 22,000 in to the calculation because the Horace company has not received the goods physically yet, we will include those goods in to inventory on January 3 not before that.

3 0

3 years ago

Marketers segment markets to achieve which of the following objectives?

Zolol [24]

<h2>Question:</h2>

→Marketers segment markets to achieve which of the following objectives?

<h2>Choices:</h2>

a. To create an offer that best fits the desires of the groups that exist in the market.

b. To identify the most appropriate media for advertising,

C. To better understand their target segments.

<h2>Answer:</h2>

a. To create an offer that best fits the desires of the groups that exist in the market.

<h2>Explanation:</h2>

→marketing efficiency by directing effort specifically toward the designated segment in a manner consistent with that segment's characteristics.

#BrainliestBunch

3 0

2 years ago