a gift of nature while capital is manufactured
The land is a purely natural resource whereas capital encompasses anything which has value., for example, money, gold, machinery etc. Also, we should note that land includes the ground on which we live, grow crops, build factories and houses, and it includes all the natural resources we use in production.
Answer:
C) Price must be below the equilibrium price
Explanation:
In a perfect competition, price is determined by the industry and no individual consumer or producer can manipulate the price. When something is in equilibrium, it refers to a balanced state with no will to change. In a perfectly competitive market, equilibrium is a point where supply is equal to demand. Market supply is the sum of individual supplies by all producers of the same commodity in the market. Market demand I'd the sum of individual demand by all consumers of a commodity in a market.
The price at which a market becomes equilibrium is the equilibrium price and the quantity supplied or demanded at the equilibrium price is the equilibrium quantity. When a price is above the equilibrium price, suppliers tend to increase the supply for profits. This could cause a condition of excess supply. In order to sell out the excesses, the price will have to go below the equilibrium price.
When a price is below the equilibrium price, consumers tend to buy at a reduced price. This causes excess demand. Here, consumers are willing to pay higher to meet the exorbitant demand and thus, the price rises to the equilibrium level.
Answer: C) a corn farmer in Ohio
Explanation:
When a firm is said to be in an imperfectly competitive industry, this means that the firms involved cannot compete effectively amongst themselves because they either have a small number of firms competition or they sell products that aren't similar. Examples include monopolies and oligopolies.
Ohio is the seventh largest corn producing state in the United States which means that there must be a lot of farmers producing corn. A corn farmer in this state is therefore most likely to be in a perfectly competitive industry not an imperfect one.
Answer:
$6,275
Explanation:
Allowance for Uncollectible-opening ($1,050)
Allowance for Uncollectible-closing $5,700
Allowance provided specially $1,625
Bad Debt Expense $6,275
The answer is A. Multinational Corporations
LDC. Stands for Less Developed Country.
And by definition, Foreign Direct investment is an investment that came from outside of that country, so option B. and option c. is wrong.
And it is really unlikely that other Less Developed Country manage to make an investment to other poor country
So it leaves option A. as the correct answer