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3 years ago

What is a traditional economy

2 answers:

8 0

A traditional economy is<span> an original economic system where traditions, customs, and beliefs shape the goods and services the economy produces, and also the the rules and manner of their distribution.</span>

stellarik [79]3 years ago

5 0

xThe answer about the Traditional Economy is explained below.

Explanation:

A traditional economy is an economic system in which traditions, customs and beliefs are very important. These customs, traditions and beliefs make the system and shape the goods and services that the economy produces.

The rules and manner of the distribution of the goods and services are also defined or shaped by such customs, traditions and beliefs.

The economic decisions are generally based on families, clans, tribes or communities in this type of economic system.

This type of system is usually rural and farm based.

In such type of systems, there is a very little change over time. Traditional economies try to stick with their base and traditions and do not change much over time.

Learn more about Traditional Economy at:

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Whispering Winds Corp. just began business and made the following four inventory purchases in June: June 1 147 units $882 June 1

MariettaO [177]

Answer:

the ending inventory using the LIFO method is $1,225

Explanation:

The computation of the value of the inventory using the LIFO method is shown below;

Since there are 196 closing units

So,

= 146 units × $6 + 49 units × $7

= $882 + $343

= $1,225

The $6 come from

= $882 ÷ 147 units

And, $7 comes from

= $1,372 ÷ 196 units

Hence, the ending inventory using the LIFO method is $1,225

5 0

2 years ago

Today, most salespeople are well-educated, well-trained professionals who work to build and maintain long-term customer relation

stepladder [879]

Answer:

b. False

Explanation:

The above is false because sales people are supposed to build and maintain long term relationships with their customers by listening to and assessing their needs and not teaching their customers. Sales people create a concerted effort towards solving those needs experienced by their customers.

A salesperson represent the image of the company he or she is selling for, hence must be professional and well trained because the company gets profit through his interactions with the customers. This means that before the company gets profit, customers must be satisfied because these salespeople act as critical link between the company and its customers.

4 0

3 years ago

Which of the following would not be characteristic of a chain restaurant?

mr_godi [17]

Answer:

C: ability to set your own hours of operation

Explanation:

With a chain restaurant you have to have the same hours as other restaurants in that chain.

7 0

3 years ago

Read 2 more answers

On August 1, 1958, first-class postage for a 1-ounce envelope was 4 cents. On August 1, 2007, a first-class stamp for the same e

Andrej [43]

Answer:

4.86%

Explanation:

Given that,

First-class postage for a 1-ounce envelope = 4 cents

On August 1, 2007

A first-class stamp for the same envelope cost = 41 cents

Period, n = 49 years

$F=P(1+i)^{n}$

$41=P(1+i)^{49}$

$\frac{41}{4}=(1+i)^{49}$

$10.25\ cents=(1+i)^{49}$

$1.0486=(1+i)$

i = 1.0486 - 1

= 0.0486 or 4.86%

Therefore, the interest rate is 4.86%.

3 0

2 years ago

Individuals join groups for two primary reasons: to enjoy the company of others and to accomplish goals unattainable by themselv

Bond [772]

The given statement about the reasons why individuals join groups is True.

<h3>What is a Group?</h3>

This refers to the collection of individuals in unison to achieve a set goal or to expand their interests, leveraging on the network of other members.

Hence, we can see that the given statement that Individuals join groups for two primary reasons: to enjoy the company of others and to accomplish goals unattainable by themselves is true.

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5 0

1 year ago