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icang [17]
2 years ago
8

What are some of the ways in which the government is involved in the economy? what are the advantages and disadvantages of gover

nmental involvement?
Business
1 answer:
ArbitrLikvidat [17]2 years ago
5 0
The government can control tariffs and can limit how much can be imported into the usa.
The government can provide subsidies to certain producers, typically farmers.
The government can put a ceiling and a floor on prices as they wish. They can control the lowest and highest price a commodity can sell for.
The government can own public works such as a water company if they feel they can provide the service for a lower cost than the local competitors.
The government can decide which companies are monopolies and which companies are violating federal policies regarding trade. The government has the power to break up monopolies.
Each of these has advantages and disadvantages. For example, for farmers, when prices on their crops are too low, the government "gives" them money for their crops so they can stay in business.
A monopoly business controls the price and supply. If the monopoly is broken up, then competitors can enter the field- this can help drive down prices.
If the government can provide utility services for cheaper, that is good.

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Carolina is trying to sell her car, and the lowest amount she is willing to accept is $2,000. Abdul is interested in buying the
andreyandreev [35.5K]

Answer:

Abdul's surplus= $400

Total surplus=$500

Explanation:

Consumer surplus can be defined as the amount a consumer is willing to pay and the amount he actually paid (which is usually less).

Given:

Carolina willing selling price=$2,000

Abdul willing buying price=$2,500

Abdul negotiated price=$2,100

Abdul is willing to pay $2,500 but he negotiated $2,100

Abdul's surplus= $2,500-$2,100

=$400

Total surplus= Abdul's willing price - carolilina's willing price

Total surplus= $2,500 - $2,000

= $500

3 0
3 years ago
Read 2 more answers
The marketplace sets the price for wheat, so farmers who are trying to sell their wheat crops do not need a pricing strategy and
jek_recluse [69]

Answer:

The correct answer is option c.

Explanation:

The only kind of market structure where the price is set by market forces and not the firms is pure competition. The firms in other market structures such as oligopoly, monopoly and monopolistic competition are price setters.  

The market for wheat is a pure competition as there is a large number of sellers who are producing identical products. The firms are price takers and the price is determined by market forces.

5 0
3 years ago
Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month.During June
Ksivusya [100]

Answer:

Each transaction leaves a different impact on each component of the accounting equation.

Explanation:

$60,000 is the owner's investment which is going to increase the equity

$15,000 worth of equipment will result in an increase in the owner's assets

Paying $1,500 will reduce the company's liabilities and also reduce current asset i.e. cash

Purchasing additional equipment for $10,000 will result in an increase in assets as the equipment will be coming to the business. On the other hand, it will also increase the company's liabilities as it is bought on credit.

The bill of $2,500 will increase assets

$8,000 bill will increase assets

Paying $6,000 for equipment will reduce cash and increase fixed assets.

Paying $3,000 cash as wages will reduce the amount of cash and eventually assets

Receiving $5,000 from the client will add more value to the assets

Paying $10,000 will reduce assets and liabilities.

Withdrawing $1,000 for personal use will adversely affect the equity

5 0
3 years ago
A few typos on a cover letter normally do not affect your chances of getting hired.
DENIUS [597]
B. False, the employer is looking to hire the people with the most eye catching and outstanding application, if you have an application in that doesn't have all the information on it or forgetting to capitalize your name could make them pass right over your application and go back to it if they have any open spots.

7 0
3 years ago
Read 2 more answers
Jacob owns five acres of land in northern California. On his land Jacob has a house and a toolshed. There are ten large maple tr
SCORPION-xisa [38]

Answer:

The correct answer is D. The house, toolshed, maple tress and apple tree.

Explanation:

Jacob owns all the elements of the property, as it is located within its 5 acres of land in northern California. Both the house, the tool shed, the 10 maples and the apple tree he planted are part of his private property. And everything he builds in that space will belong to him (crops, buildings, etc.).

7 0
3 years ago
Read 2 more answers
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