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3 years ago

How are traditional economies like free-market economies?

Business

2 answers:

shutvik [7]3 years ago

7 0

The last one. hope it helps!

koban [17]3 years ago

7 0

The option D is correct.

Traditional economies are like free-market economies when both have no international trade.

Further Explanation:

Traditional Economies:

Traditional economies are those types of economies in which agricultural products are exchanged. Money is not invented at this time, the people use the barter system of exchange. In this exchange of barter system, for example, one kilogram of wheat is exchanged with same amount of rice.

Free- market Economies:

Free – market economies are those types of economies in which all types of products are exchanged with the help of money. In this type of economies, there is little intervention of government. But there is no international trade. All the transactions have done within the boundaries of the country.

Justification for the correct and incorrect answer:

Both are agricultural in nature: This option is incorrect.

Traditional economies include only agricultural products, but free-market economies include all types of goods. This statement is not correct.

Both are considered subsistence economies: This option is incorrect.

This statement is incorrect for both types of economies. Subsistence economies are those types of economies in which only natural resources are used. But in both types of economies, the natural resources are not used.

Both have no government regulation: This option is incorrect.

Traditional economies have full government regulation. In free-market economies, there is little government regulation. This statement is incorrect.

Both have no international trade: This option is correct.

Traditional economies usebarter system, as in this case the international trade is not possible. In free-market economies do not have international trade. This option is correct.

Learn more:

1. Learn more about the inflation rate and economy

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2. Learn more about the demand curve

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3. Learn more about Iceland economy

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Answer details:

Grade: High School

Subject: Economics

Chapter: Types of economies

Keywords:traditional economies, free-market economies, agricultural, nature, subsistence economies, no government regulation, no international trade, exchanged, barter system.

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3 years ago

Adong's Fishing Products is analyzing the performance of its cash management. On average, the firm holds inventory for 65 days,

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Answer:

A. $45

B. $80

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Explanation:

(a) Calculation to determine the firm's cash conversion cycle

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Therefore the firm's cash conversion cycle is $45

(b) Calculation to determine the firm's operating cycle

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(c) Calculation to determine the daily expenditure and the firm's annual savings if the operating cycle is reduced by 15 days

First step is to calculate the Daily expenditure

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Daily expenditure=$5,444.44

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2 years ago

A company has a process that results in 1,300 pounds of Product A that can be sold for $13.00 per pound. An alternative would be

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Answer:

If the company process further the units, income will decrease by $600.

Explanation:

Giving the following information:

A company has a process that results in 1,300 pounds of Product A that can be sold for $13.00 per pound.

An alternative would be to process Product A further for $13,600 and then sell it for $23.00 per pound.

We need to determine the result of further processing the product.

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3 years ago

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10 months ago

What term tells us how frequently a product is completed?

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It is Cycle Time that tells us how frequently a product is completed.

<h3>What is Cycle time?</h3>

Cycle time is a measurement of how long it takes a company to produce a good or provide a service. Learning how to determine cycle time will help you improve your production processes. This page provides a definition of cycle time, an explanation of its importance, step-by-step directions, and an example to assist you in calculating the cycle time for your company.

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