Answer:
(a) Command
Explanation:
A command economy is also known as planned economy and it can be defined as a type of economy in which the government owns and control the means of production.
This ultimately implies that, in a command economy, the government owns the means of production.
Societies that operate a command economy generally practices communism.
Communism is a system of philosophical, political, social organization and economical ideologies that advocates the elimination of private property but a profit-based economy with public ownership of the means of production.
It ultimately aims to ensure each person contributes and receives according to their abilities and needs.
Vietnam, China and Cuba are examples of communist countries that operate a command economy.
In conclusion, a command economy requires that the method of exchange, distribution, as well as the means of production of goods and services and allocation of resources for production should be controlled or regulated by the public (government) rather than the private sector.
Answer:
a. <u>Product processing</u>
Indirect factory wages $54,940 = $82,000*67%
Factory equipment depreciation <u>$38,640</u> = $276,000*14%
Total <u>$93,580</u>
So, the total amount of indirect factory wages and factory depreciation cost allocated to product processing activity = $93,580
b. Indirect factory wages $820 = $82,000*1%
Factory equipment depreciation <u>$38,640</u> = $276,000*14%
Total <u>$39,460</u>
So, total amount of indirect factory wages and factory depreciation costs not assigned to products = $39,460
Currently I am a family team member and over the summer I’m hoping to get a job at a local super market to start making money for myself
Answer:
primary; secondary
Explanation:
The primary market is the market where the securities are to sold for the first and foremost time i.e. initial public offering through investment bank
While on the other hand, the secondary market is the market where the securities are traded by the investors and they deal with the existed securties
So the fill in the banks could be filled with the primary and secondary
Answer:
D. Piecework
Explanation:
Piecework compensation is a situation where a worker is paid per unit of output he produce.
Piecework refers to a payment schedule in which an employee is paid a fixed rate for each unit of production produced. It is a payment common to temporary or ad-hoc staffs. The amount earned by a worker depends on the quantity of goods produced.
Piecework pay encourages employees to work more so they can earn more. It also helps a firm to increase output because workers will produce more units to increase their pay.
The disadvantage of piecework pay is that the quality of the product might decrease since workers focus more on quantity produced.
Piecework pay can be calculated by multiplying piece rate per unit by number of units produced.
That is,
Piecework Pay = piece rate per unit x number of units produced
