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Iteru [2.4K]
3 years ago
7

Two major virtues of the market system are that it:

Business
1 answer:
podryga [215]3 years ago
4 0

The correct answer is allocates resources efficiently and allows economic freedom.

The market system of economics is one where economic decisions and the pricing of goods and services are guided solely by supply and demand and there is limited to no government interaction in the economy. Because of this, two major virtues of the market system are that it allocates resources efficiently and allows economic freedom.

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3 years ago
What is the primary criterion of managerial accounting reports
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What is the primary criterion for the preparation of managerial accounting reports?

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meet managers need
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Managerial accounting is different to financial accounting because it is the one called cost accounting. It is the process in which it is needed to identify, measure, anal… (MORE)
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Answered by The WikiAnswers® Community
Making the world better, one answer at a time.
Should accountants only focus on financial statements and not on production of managerial reports?
Answered in BUSINESS ACCOUNTING AND BOOKKEEPING
Should accountants only focus on financial statements and not on production of managerial reports?
4 0
3 years ago
A point outside the production possibilities curve represents a combination of goods that is
pochemuha

Answer:

A production combination outside of the PPF is unattainable by the economy with the given resources and technology.

This represents the Concept of scarcity in economics.

If the economy wishes to achieve the production point outside the frontier, they will have to enhance the production possibility capacity by introducing new technology or finding new resources.

Explanation:

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