1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Ronch [10]
3 years ago
12

Which of the following best describes how consumers make financial decisions in a market economy? A. The media forces consumers

to buy certain goods. B. They make choices based on their self-interests. C. The government tells consumers what to do. D. They always buy items that are the least expensive.
Business
1 answer:
notka56 [123]3 years ago
4 0

Answer:

B. They make choices based on their self-interests.

Explanation:

A market economy can be defined as the economy of a country where by the government has a minimal influence or intervention on how the market operates.

A market economy is regulated by the individuals that owns the businesses in that economy. These individuals have the ability to direct resources that they need from production to their firms and businesses.

A market economy is largely or greatly influenced and regulated by the rate of supply and demand. Consumers in a market economy have to sometimes paid a high price for the goods and services that they require. Consumers make financial decisions in a market economy by making their choices based on self interests.

A market economy is a very competitive economy because

a. the demand of goods and services by consumers have increased therefore this results in an increase in production of goods and services.

b. The producers tend to high innovative when producing this goods and services required by the consumers.

In a market economy, businesses and firms tend to have an increased of a very high rate of efficiency when producing goods and services such that they minimise or lower the cost of production while ensuring that they make high or huge amounts of profits.

You might be interested in
when perfectly competitive firm X sells three units of product Z, its marginal revenue is $4.67. when it sells one hundred units
Ghella [55]

Answer:

B) $4.67

Explanation:

By definition marginal revenue is the revenue generated by the sale of one more unit of product Z.

Marginal revenue = unit price

Since firm X participates in a perfectly competitive market, it is a price taker, and since the marginal revenue is constant, we can assume that this is the equilibrium price of product Z.  

3 0
3 years ago
An investor was looking at a sixteen-unit apartment building. Four of the units rented for $600, four for $750, four for $725, a
tankabanditka [31]

Answer:

$1,545,000

Explanation:

The formula to compute the cost of the building equal to

Rate of return = (Rental income - expenses) ÷ (cost of building )

where,

Rate of return = 8%

Rental income equals to

= ($600 × 4 units + $750 ×  4 units + $725 × 4 units + $800 × 4 units) ×  12 months

= $138,000

Total expense

= $1,200 ×  12 month

= $14,400

Now the cost of building would be

8% = ($138,000 - $14,400) ÷ (cost of building )

8% = $123,600

So, the cost of building equal to $1,545,000

6 0
3 years ago
Soprano Corporation allocates administrative costs on the basis of staff hours. Short-run monthly usage and anticipated long-run
Nuetrik [128]

Answer:

$850,000

Explanation:

Total Hours of Department 1=$80,000+$90,000

=$170,000/$200,000*1000,0000

8 0
3 years ago
Employers across diverse industries have common expectations for their employees.<br> True<br> False
aniked [119]

False

Explanation:

cause they're different parts of careers therefore theyd have to have different expectations for each, cause theyre not the same

5 0
2 years ago
Under a periodic inventory system: ______.a. the current inventory available for sale is always known. b. the merchandise invent
cupoosta [38]

Answer:

C) the merchandise inventory balance reflects the ending inventory.

Explanation:

When a company uses the periodic inventory system, inventory records are updated only at the end of each accounting period. The periodic inventory system records cost of goods sold (COGS) at the end of the accounting period after the inventory records have been updated.

6 0
3 years ago
Other questions:
  • Your plan projects revenue of $5,000, $8,000, and $10,000 in years 1 through 3. Expenses are projected to be $9,000 for each of
    5·1 answer
  • Is the process of planning, scheduling, and then controlling the activities during system development?
    6·1 answer
  • Of fifo or lifo, which method would produce the more favorable cash flow? fifo, because of it produces lower income tax expense
    15·1 answer
  • Around which latitude(s) would you expect to find rainforests, and why? ( you may enter up to 150 characters. )
    6·2 answers
  • Fact Pattern: Conner purchased 300 shares of Zinco stock for $30,000 in 1994. On May 23, 2013, Conner sold all the stock to his
    11·1 answer
  • If real gdp per capita grows at a rate of 5 percent per year consistently over time, how many years will it take for it to doubl
    5·1 answer
  • Under FINRA rules, to recommend a direct participation program to a customer, the registered representative must ascertain that
    8·1 answer
  • What does WMT mean in the stock market?
    14·1 answer
  • _____ occurs when an individual or business capitalizes on a price differential for a firm’s product between two countries by bu
    9·1 answer
  • The purchase of new car is included in: investment expenditure consumption expenditure on services consumption expenditure on no
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!