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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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Nominal gdp is a good snapshot of the current value of production in an economy but it cannot be used to make comparisons over t
shepuryov [24]

Nominal GDP is a good snapshot of the current value of production in an economy but it cannot be used to make comparisons over time because prices change.

Nominal GDP is an indicator used to understand a country's economy. It measures the current value of production of a country. But it cannot be considered as a good measure. One important drawback of Nominal GDP is that it cannot be used to make comparisons of production prices over time because it doesn't take inflation into account.

Nominal GDP works only with current prices and the price changes will not be seen when calculated through years.

So Real GDP is considered for comparisons of product prices over time.

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4 0
1 year ago
Adirondack Marketing Inc. manufactures two products, A and B. Presently, the company uses a single plantwide factory overhead ra
Eddi Din [679]

The factory overhead allocated per unit of Product A in the Painting Department is $ .

Given,

                             Overhead       Total direct       DLH per product

                                                    Labour Hours           A          B

Painting dept.       $241000        10500                       8          11

Finishing dept.      $69700         10500                       5           6

Totals                     $311400        21000                       13         17

Single overhead rate per hour = total overheads/ total labor hours

Now, substituting the values in the formula

Single overhead rate per hour = 311400/21000

                                                   = $14.83 per labor hour

Now, direct labor hours for product A for the Painting department  = 16 hours

Overhead rate per unit of product A in the painting department = 16 hours × $14.83 per hour

Overhead rate = $237.28 per unit

Thus, Adirondak Marketing Inc. would allocate $237.28 to the painting department for 1 unit of Product A.

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brainly.com/question/26082424

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8 0
2 years ago
Two types of cars (Deluxe and Limited) were produced by a car manufacturer last year. Quantities sold, price per unit, and labor
frez [133]

Answer and Explanation:

Labor Productivity in Units per hour

Labor Hours Productivity(In units) =  Total Output / Input hours

For Deluxe Cars =  5,000 units / 21,250 hours = 0.24 units per hour (approx)

For Limited Cars =  6,250 units / 29,950 hours = 0.21  units per hour (approx)

Labor Productivity in dollars

Labor Hours Productivity(In dollars) =  Total Output in dollar / (Input hours x rates)

For Deluxe Cars =  (5,000 units x $8,500) / (21,250 hours x $13) = $42,500,000 / $276,250 = $153.84 per unit

For Limited Cars =  (6,250 units x $10,100) / (29,950 hours x $15) = $63,125,000 / $499,250 = $126.44 per unit

7 0
3 years ago
Which of the following are true if you pay only the minimum amount each month towards your credit card bill?
Stels [109]
You will have a higher interest and will be in debt for longer
6 0
3 years ago
Russell spends an hour studying instead of playing basketball. Russell’s willingness to study is due to the fact that he... Your
love history [14]

Answer:

c. feels the marginal benefit of an extra hour of studying exceeds the marginal cost of not playing basketball.

Explanation:

Russel made a choice to study for an hour instead of playing basketball. When making choices people weigh the benefits of an action against its opportunity cost.

Opportunity cost is the forgone alternative when we choose to do something.

In this instance Russell chose to study and the opportunity cost was to enjoy playing a basketball game.

For him to choose to study it means he saw the benefit of reading to be greater than the marginal cost of playing basketball. So he chose the most beneficial activity for him.

4 0
3 years ago
Read 2 more answers
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