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KiRa [710]
2 years ago
9

Explain which economic system (market, planned, mixed, or traditional) you think is best for consumers. describe at least one re

ason why you think this system is best for consumers.
Business
1 answer:
Norma-Jean [14]2 years ago
7 0
The best economic system for consumers is market economy, this is because consumers are part of the forces that determines how the market operates.
Market economy is control by the force of demand and supply; what is demanded in the market is what the manufacturers will supply. In a market economy, there are many suppliers and consumers can buy from any one of them, if one of the suppliers increases his own price, consumers can easily go somewhere else to purchase at lower price. Thus, market economy  is favorable to the consumers.<span />
You might be interested in
At the equilibrium level of income in the Keynesian model, which of the following statements is nottrue?
ZanzabumX [31]

Answer:

c. There are more unemployed resources.

Explanation:

Equilibrium level of income is the level of income where aggregate supply in the economy is consistent with aggregate demand. that is the level of income planned savings is equal to planned expenditure. the equation can be written as S = I. where S = savings and I = investments

At equilibrium income level, aggregate expenditure is equal to aggregate output. The equilibrium equation can be written as Y = C+I+G+X-M where

Y = national income, I = investment expenditure of the firm, G = government expenditure on goods and services, X = export, M = import.

7 0
3 years ago
When regulators engage in macroprudential regulation, they focus on A. the credit standards of all loans held by the financial i
Agata [3.3K]

Answer:

C) the safety and soundness of the financial system in aggregate.

Explanation:

Macroprudential regulation focuses on reducing systemic risk.

Systemic risk is the financial risk associated with an event from a specific company damaging the whole financial system. Systemic risk was responsible for the collapse leading to the Great Recession (2008-2010).

The "too big to fail" policy is an example of macroprudential regulation.

8 0
3 years ago
How often should you typically monitor your checking account?
Elena-2011 [213]
<span>The correct answer is once a month. You should typically monitor your checking account one a month by balancing it. You can balance your account by adding all of your deposits to the beginning balance and subtracting all the subtotal's checks made.</span>
8 0
3 years ago
Internal Controls for Bank Lending
julsineya [31]

Answer:

1. False

The higher the figure, the higher the risk. Kindly note that loans are usually insured against default. The higher the amount insured, the higher the premium payable as insurance on such amounts.

2. False

It does not make for good internal control to have one person regardless of their position to have the final say on loans of great magnitude such as $5 Million. This can quickly degenerate into a situation where the officer involved is tempted to abuse that power. It makes for good corporate governance and risk management to ensure that the board is responsible for loans of such magnitude.

3. True

If a bank lost $100 in a thousand places, from loan default, that translates to a loss of $100,000. This relatively is large however it is small and will have less impact that a loss of a million dollars in 3 places. That's $ 3,000,000.

As already indicated, it makes for good loan disbursement governance, to ensure that there is at least two persons involved in the risk acceptance criteria (RAC) evaluation and loan disbursement process.

4. False

Separation of duties is the foundation of good internal control. It allows for greater objectivity. It is also key to carefully select signatories to loan disbursements. They have to be people of impeccable character and the company must exercise proper risk management to ensure that every protocol such as opportunity that may create the impulse or inclination to breach policy is removed completely.

Cheers!

5 0
2 years ago
An organization used to obtain supplies from 3,000 suppliers, but now deals with less than 300. By making this change, the organ
Natali [406]

Answer: To answer this, we must first add the options.

A) richness

B) depth

C) dynamism

D) complexity

The answer is D. Complexity

Explanation: The Environmental Complexity of an organisation is the total amount of elements or components involved in an organisation's operations. This also includes the extent of the knowledge that the organization has about those components/elements.

The company in the question above reduced it environmental complexity from 3,000 suppliers to less than 300.

3 0
3 years ago
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