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3 years ago

What is an economic system? Give two examples.

Business

2 answers:

Alexeev081 [22]3 years ago

8 0

Answer:

An economic good is a physical object or service that has value and can be sold; some examples include bananas, toys, haircuts, and cars. Economic systems are the means by which countries and governments distribute resources and trade goods and services. They are used to control the five factors of production, including labor.

Explanation:

Anit [1.1K]3 years ago

6 0

Answer:

<h2>there are many economic system used throug the world.some example are socilaism,communism,and cappitism the United States has capitlastic system</h2><h2> $mark \: me \: brailest$ </h2>

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The recent emphasis on sources and treatment of hypertension with respect to occupational health and well-being is an example of

Fiesta28 [93]

The correct answer is medicine.
Obviously, any type of disorder or illness of the body has to do with medicine and the possible ways to cure those complications. Hypertension refers to elevated blood pressure levels, so psychology, sociology, and management have nothing to do with it.

3 0

3 years ago

Amateurs who cash bad checks because of some financial crisis but have little identification with a criminal subculture are call

torisob [31]

Amateurs who cash bad checks because of some financial crisis but have little identification with a criminal subculture are called naive check forger. Forgery is defined by general or common law as the fraudulent execution of a legal document, which entails liability.

The term "naive forgery" was created to describe forgeries carried out by people with no prior criminal history and no prior contact or interaction with offenders. It is intended to exclude forgeries that are committed as a byproduct of other crimes and forgeries that are either the initial or later stages of a criminal career. Forgeries of the kinds that have been eradicated sometimes occur when criminals enter a business office and discover a drawer full of checks, which they frequently — and foolishly — cash.

The forgeries produced by embezzlers and occasionally by con artists are also excluded, mostly because they serve as a byproduct or a secondary method of committing their crimes. The fact that the embezzler was in a position of trust further sets him apart from the forger. On the grounds that it unnecessarily restricts the range of crimes and hence lessens the effectiveness of our generalisations, the legitimacy of how we define the class of forgeries about which we attempt to generalise may be questioned. The nature of the prior records of individuals found guilty of forgery will provide the answer to any such question we may have.

Learn more about Liability here brainly.com/question/14921529

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4 0

2 years ago

Adam smith called the force that guided the competition from scarce resources in a free market the _____ a0 hand

musickatia [10]

Adam smith called the force that guided the competition from scarce resources in a free market the Invisible a0 hand.

7 0

3 years ago

Outback Corp. recorded sales of $1,300,000 in 2010, in addition the company's accounts receivable balance grew from $120,000 at

klemol [59]

Answer:

$1,255,000

Explanation:

The increase in accounts receivable is the portion of the current year sales revenue that has not been received in cash, hence, the cash collected from customers in the year 2010 is simply the sales adjusted for the impact of accounts receivable as shown below:

cash collection=sales revenue+beginning accounts receivable-ending accounts receivable

sales revenue=$1,300,000

beginning accounts receivable=$120,000

closing accounts receivable=$165,000

cash collection=$1,300,000+$120,000-$165,000

cash collection=$1,255,000

8 0

3 years ago

Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one uni

Bond [772]

Answer:

1. Material Variances

Material Price Variance = $3,000 F

Material Quantity Variance = $4,000 U

2. Labor Variances

Labor Rate Variance = $1,425 U

Labor Efficiency Variance = $900 F

Explanation:

Provided information we have,

Direct Materials

Standard Quantity = 4.6 pounds

Standard Rate = $2.50 per pound

Direct Labor

Standard Hours = 0.2 hour per unit

Standard Rate = $18 per hour

Actual Materials

Actual Quantity = 20,000 pounds

Actual Rate = $2.35 per pound

Actual Labor

Labor Hours = 750 hours

Labor Cost = $14,925

Labor rate = $\frac{14,925}{750} = $19.9 per hour$

Actual Units produced = 4,000

1. Material Variances

$Material\ Price\ Variance = (Standard\ Price - Actual\ Price) \times Actual\ Units$

= ($2.50 - $2.35) $\times$ 20,000 pounds

= $3,000

As the actual rate is less than standard rate the variance is favorable.

$Material\:Quantity\ Variance = (Standard\ Quantity - Actual\ Quantity) \times Standard\ Rate$

Standard Quantity = 4,000 $\times$ 4.6 = 18,400 pounds

Material Quantity Variance = (18,400 - 20,000) $\times$ $2.50

= - $4,000

As the actual raw material quantity used is higher than standard raw material quantity the variance is unfavorable.

2. Labor Variances

$Labor\ Rate\ Variance = (Standard\ Rate - Actual\ Rate) \times Actual\ Hours$

= ($18 - $19.9) $\times$ 750 = - $1,425

As actual rate is higher than standard rate thus the variance is unfavorable.

$Labor\ Efficiency\ Variance = (Standard\ Hours - Actual\ Hours) \times Standard\ Rate$

Standard Hours = 4,000 $\times$ 0.2 = 800

Labor Efficiency Variance = (800 - 750) $\times$ $18

= $900

As the Standard Hours is more than Actual Hours the variance is favorable.

1. Material Variances

Material Price Variance = $3,000 F

Material Quantity Variance = $4,000 U

2. Labor Variances

Labor Rate Variance = $1,425 U

Labor Efficiency Variance = $900 F

6 0

3 years ago