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sashaice [31]
3 years ago
14

How does specialization benefit both producers and consumors in a free market economy?

Business
1 answer:
Helen [10]3 years ago
7 0
<span>Through specialization, both producers and consumers benefit. On the producer side, specialization allows producers to best use their resources in the most efficient manner possible by playing to their strengths, thus maximizing profit. On the consumer side, the fact that producers are specialized and thus efficient in their production ensures lower production costs than if products were made by less-specialized producers, translating into lower consumer-facing prices.</span>
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Patricia Nall was approved for a $3,000, two-year, 11 percent loan with the finance charges figured using the discount method. H
Luba_88 [7]

Answer:

$2,340

Explanation:

The computation of cash received from this loan is shown below:-

cash received from this loan = Approved amount - (Approved amount × Two year × Percentage of loan )

= Approved amount - ($3,000 × 2 × 11% )

= $3,000 - ($3,000 × 2 × 0.11 )

= $3,000 - $660

= $2,340

Therefore, for computing the cash will Patricia receive from this loan we simply applied the above formula.

4 0
3 years ago
You can have your cake or chose to eat it
Oksi-84 [34.3K]

Answer:

Exclude people from your property

4 0
2 years ago
Read 2 more answers
On June 1, Norma Company signed a 12-month lease for warehouse space. The lease requires monthly rent of $550, with 4 months pai
Sati [7]

Answer:

Balance = $1,650

Explanation:

As Norma company has paid 4 months rent in advance, therefore at the end of June, norma company will record its 1-month expense as follows

Adjusting entry at the end of June would be

                             DEBIT       CREDIT

Entry

Rent Expense     $550

Prepaid Rent                         $550

The balance on Norma's prepaid expense would be

Prepaid Rent  = $2200

Rent Expense = ($550)

Balance = $1,650

7 0
3 years ago
During 2019, Globe Life Corporation had following transactions affecting stockholders' equity: a. Feb. 1 Repurchased 230 shares
natali 33 [55]

Answer:

The requirement of question is prepare journal entries for each of above transaction; It is assumed that par value of each share is $1

Explanation:

Feb 1.

Common Stocks  230*1                           Dr.$230

Paid in capital in excess of par 230*(22-1)  Dr.$4,830

Cash 230*22                      Cr.$5,060

b. Jul 15

Cash 130*23    Dr.$ 2,990

Common Stocks 130*1     Cr.$130

Paid in capital  in excess of par 130*(23-1) Cr.$2,860

c.Oct 1

Cash 100*21             Dr.$2,100

Common Stocks 100*1            Cr.$100

Paid in Capital in excess of par 100*(21-1) Cr.$2,000

5 0
3 years ago
A paper company is opening a new facility in Canada to increase its paper production. The company researched Canadian pulp suppl
Alik [6]

Answer: Proposal Solicitation Step

Explanation: There are Eight (8) stages in organizational buying process, and they inculde:

1. Problem recognition

2. Need description

3. Product Specification

4. Supplier search

5. Proposal Solicitation

6. Supplier selection

7. Order

8. Performance review.

The Proposal solicitation step is were selected potential suppliers will be asked to submit a proposal which will include catalogs and other documents that will give them a better advantage than others for review by the selecting company.

4 0
3 years ago
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