All categories

3 years ago

Select all the items that describe a free market economy.

2 answers:

4 0

The items that describe a free market economy are :
- Freedom for consumers and producers
- Distribution by price
- Motivated by self-interest

Hope this helps

sp2606 [1]3 years ago

4 0

Answer:

freedom for consumers and producers

competition between businesses

distribution by price

motivated by self-interest

Explanation:

Select all the items that describe a free market economy.

In a free market system ,there is an interaction between the forces of demand and supply. It is a market where prices are determined by private owners not rules and regulations by the government.

Items involved in a free market system are the following

a.freedom for consumers and producers

b. competition between businesses : The competition is free and fair for all

c .distribution by price : Distribution is by commodity prices

d. motivated by self-interest: Free markets is usually motivated by the interest to supply goods and services to meet the needs of the society and in turn, when there is a demand for goods and services, then buyers will show up.

You might be interested in

Suppose a tire manufacturer wants to set a mileage guarantee on its new XB 70 tire. Tests revealed that the tire's mileage is no

kogti [31]

Answer:

The manufacturer should announce a guaranteed mileage of 44528 miles

Explanation:

Problems of normally distributed samples are solved using the z-score formula.

In a set with mean $\mu$ and standard deviation $\sigma$ , the zscore of a measure X is given by:

$Z = \frac{X - \mu}{\sigma}$

The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.

In this problem, we have that:

$\mu = 47900, \sigma = 2050$

What guaranteed mileage should the manufacturer announce

Only until the 5th percentile will have to be replaced, which is the value of X when Z has a pvalue of 0.05. So it is X when Z = -1.645.

$Z = \frac{X - \mu}{\sigma}$

$-1.645 = \frac{X - 47900}{2050}$

$X - 47900 = -1.645*2050$

$X = 44528$

The manufacturer should announce a guaranteed mileage of 44528 miles

6 0

3 years ago

Read 2 more answers

As the basis for the first section of your lab report. This section provides your reader with background information about why y

docker41 [41]

Answer:

Explanation:

This organism may be identified by its color, the spines on its back, the antennae, and therefore the long, thin body. There are many other characteristics that might even be wont to identify this organism.

7 0

3 years ago

Parisian Cosmetics Company is planning a one-month campaign for September to promote sales of one of its two cosmetics products.

leonid [27]

Answer:

Explanation:

1.) Promote Moisturizer or Promote Perfume

21-Aug

Promote Moisturizer Promote Perfume Differential Effect

(Alternative 1) (Alternative 2) (Alternative 2)

Revenues 22,000 units x $55.32 = $1,217,040 20,000 units x $59.64 = $1,192,800 ($24,240)

Costs:

Direct Materials 22,000 units x $9.05 = $199,100 20,000 units x $14 = $280,000 ($80,900)

Direct Labor 22,000 units x $3.06 = $67,320 20,000 units x $4.93 = $98,600 ($31,280)

Variable Factory Overhead 22,000 units x $3.04 = $66,880 20,000 units x $4.93 = $98,600 ($31,720)

Variable Selling expenses 22,000 units x $16.02 = $199,100 20,000 units x $14.97 = $299,400 $53,040

Sales Promotion $136,430 $136,430 $0

Income (Loss) $394,870 $279,770 ($115,100)

Alternative 1 income = $394,870

Alternative 2 income = $279,770

Alternative 3 income = $115,100

2.) The company should promote moisturizer (Alternative 1)

3.) The decision of the manager is absolutely wrong as the manager is of the view that operating income will increase by $82,170 because he has considered the fixed expenses too which are not going to occur as we can see in the question. Hence the fixed expenses is irrelevant to cost to choose the alternative. As per the differential analysis, Alternative 1 i.e to sale moisturizer extra with the help of the promotion expenses.

4 0

3 years ago

True or False: This indicates that there is excess capacity in the market for bats. True False Monopolistic competition may also

KonstantinChe [14]

Answer:

False

Explanation:

Monopolistic competition is a type of imperfect market where there are many seller competing with each other but with differentiated products. Monopolistic competition is socially inefficient. The product variety externality implies that there is too little entry of new firms in the market.

3 0

2 years ago

A broker, acting as the agent of a seller, must deal honestly and fairly with whom? Group of answer choices

Doss [256]

Answer:

Everyone involved in the transaction

Explanation:

As an agent of the seller, the broker has a fiduciary duty with the seller (principal) to act of behalf of his/her best interest.

But the broker must also act honestly with the buyer, if the broker closes a deal using dishonest or unfair practices, e.g. forging documents, then the buyer might claim damages from both the broker and the seller.

And of course the broker should also make sure that his/her own rights are respected and his/her work is properly paid.

8 0

3 years ago