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vazorg [7]
3 years ago
7

Which situation best reflects the concept of free enterprise? Consumers have a choice between two bakeries in a single city bloc

k. An agency determines which supplements are safe for people to buy. Local officials set the prices for all the gas stations in a community. The government decides the minimum wage for all airline workers.
Business
2 answers:
SVETLANKA909090 [29]3 years ago
6 0
The second option: an agency determines which supplements are safe for people to buy.

1) A choice between two bakeries is not sufficient for considering totally free.

2) Setting the prices by officials is not an example of free enterprise.

3) Stating the minimum wage is not an example of free enterprise.

Given that supplements are part of healthy sector it is important that a specilized agency pronounce about safety. The certification of the suplements as self permit manufacturers and consumers interact freely.
svet-max [94.6K]3 years ago
4 0
Free enterprise is when people enjoy many economic freedoms. Having this in mind, the situation that best reflects the concept of free enterprise is the first choice - consumers have a choice between two bakeries in a single city block.
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Comet Company is owned equally by Pat and his sister Pam, each of whom hold 100 shares in the company. Comet redeems 50 of Pam's
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Answer:

Total E&P = $ 160000

Total voting Right Sold = 50/ (100+100) = 25%

Reduction of E& P due to exchange = Total E&P*Total voting Right Sold

Reduction of E& P due to exchange = 160000*25%

Reduction of E& P due to exchange = 40000

Reduction of E& P Lower of Total E&P*Total voting Right Sold or Amount realised

Reduction of E& P Lower of 40000 or (50*1000)

Reduction of E& P Lower of 40000 or 50000

Answer

A reduction of $40,000 in E&P because of the exchange.

7 0
3 years ago
Delaney Inc. has several transactions with foreign entities. Each transaction is denominated in the local currency unit of the c
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5 0
3 years ago
Last year Christine worked as a consultant. She hired an administrative assistant for $15,000 per year and rented office space (
mel-nik [20]

Answer:

Explicit costs - $51,000

Explicit costs are those for which a person incurs in actual spending of money. In this case, Christine had to pay $15,000 in wages, and $36,000 in rent ($3,000 x 12). These are expenses that she had to pay money for, and that had to be accounted for in the accounting books, and in the financial statements. These are in other words, explicit costs.

Implicit costs - $40,000

Implicit costs are simply the opportunity costs. An opportunity cost is the cost of the next more valuable alternative when faced with two or more options. No money is paid for this costs. The implicit costs for Christine were the $40,000 that she not receive as wages if she had continued working at a real state firm.

8 0
3 years ago
"Because apples and oranges are substitutes, an increase in the price of or¬anges will cause the demand for apples to increase.
irinina [24]

Answer:

The correct answer is option a.

Explanation:

Apples and oranges are substitutes. An increase in the price of oranges will cause the demand for apples to increase. This is because people will prefer a cheaper substitute. This increase in the demand for apples will cause its demand curve to shift to the right.

The rightward shift in the demand curve will cause the equilibrium price to increase. But this change in price will not cause a change in demand. The change in price affects only the quantity demanded. Change in demand happens because of a change in other factors.

So, the given statement is not correct.

7 0
3 years ago
Taylor & Edwards Inc. manufactures television sets. Last month, direct materials (electronic components, etc.) costing $550,
kirill [66]

Answer:

$170.24

Explanation:

The prime cost are the direct manufactured product's costs

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Direct labor            880,000

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Prime Cost per unit =  cost / units

1,430,000 / 8,400 = 170.238095238 = 170.24

7 0
4 years ago
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