1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Alexxandr [17]
3 years ago
8

In 2 or 3 sentences, explain what determines the allocation of resources and distribution of goods in a market economy versus a

planned economy.
Business
1 answer:
photoshop1234 [79]3 years ago
6 0

Answer:

Explanation:

In a market economy, resource allocation is determined by the supply and demand forces. In other words, the allocation of resources is decided using the price  mechanism.

The resource allocation in a planned economy, on the other hand, is determined by a government or a central authority. In other words, the central authority decides the quantity to be produced, the method of production, and the target consumer to whom the production is targeted.

You might be interested in
What is necessary for someone to even get the oppurtunity to accumulate 10,000 hours of practice at something?
GenaCL600 [577]

Answer:

<em>10 hours per week in 20 years, 20 hours per week in 10 years or 40 hours per week in 5 years.</em>

Explanation:

According to the author Malcolm Gladwel, with his book “Outliers. The success story ”, says that to achieve excellence, you must have an accumulation of 10,000 hours of practice, this means 10 hours per week in 20 years, 20 hours per week in 10 years or 40 hours per week in 5 years.

The author analyzes the importance of culture, family, friends, ancestors and other determining factors in the success of his projects.

Gladwell cites Mozart's example, recognized as a great genius. A composer began at age 7 and it is true that we know that some good pieces were written at the time of his adolescence. But the great symphonies were written after the age of 21, when he had already accumulated more than 10,000 hours of practice, in compositions and interpretations.

From this idea of ​​10,000 hours of practice, a level of knowledge acquired is possible based on a scale of magnitude of 10 hours, in an approximate way:

With 1 hour: We can know the basics.

With 10 hours: We have a broader notion of the basics.

With 100 hours: A medium level is acquired.

With 1,000 hours: It advances to be a specialist.

With 10,000 hours: One can master complications in that skill.

4 0
3 years ago
When p = $5, the quantity demanded of a good is 30 units, and the quantity supplied of the good is 50 units. For every $1 decrea
Neporo4naja [7]

Answer: Equilibrium price is $3 and equilibrium quantity is 40 units.

Explanation:

Demand equation is given by,

Qd= a-bP When P=$5, Qd=30 30 = a – 5b Change in Quantity demanded =  Change in a – (b Change in P) 5 = 0 – b(-1) b=5 So, a = 55

Therefore the demand equation is given by, Qd= 55 – 5P

Supply equation is given by

Qs= c + dP When P=$5, Qs = 50 50 = c + 5d Change in Quantity supplied = Change in c + d(Change in P) -5 = 0 + d(-1) d=5 So, c=25

Therefore, the supply equation is given by,  

Qs= 25 + 5P

Equilibrium is given by

Qd=Qs 55 – 5P= 25 + 5P 30=10P P=$3 And  Equilibrium quantity is, Q= 55 – 5(3) = 55 – 15 = 40 units.

8 0
3 years ago
What types of theater productions offer more opportunities for on-the-job learning? professional. traveling Broadway. college/un
Snezhnost [94]
College university productions I think
5 0
3 years ago
Us federal income tax is progressive by law, but which best explains why is it sometimes regressive in practice?
Solnce55 [7]
I believe the answer is: High-income earners use tax laws to their advantage to reduce their tax rates

High income earners tend to possess financial knowledge or ability to allow experts who understand the full scope of taxation laws and how to recorded the transactions in a way that make it eligible for tax deduction. This makes a lot of high income earners manage to avoid paying taxes even if they manage to obtain a lot of profit.
3 0
3 years ago
Read 2 more answers
Question 8 of 10
kirill115 [55]

Answer:

A. A balance sheet shows the total assets, liabilities, and owner's

equity at the end of the period

Explanation:

As we know that

The income statement recognized only the income earned and expenses incurred of an organization

While on the other hand the balance sheet shows the financial position, profitability of the company. It involves assets, liabilities and stockholder equity

So according to the given options, the option A is correct

hence, the rest of the options would be incorrect

6 0
3 years ago
Other questions:
  • Raymond Financing leases airplanes to airline companies. Raymond has just signed a 20-year lease agreement that requires annual
    12·1 answer
  • What is Not true about unexpected expenses?
    7·1 answer
  • Antonio assaulted Mark after the two argued about a parking space. The District Attomey's office prosecuted Antonio on assault c
    13·1 answer
  • What helps advertisers decide what works and what could be improved?​
    11·1 answer
  • Minimizing the use of energy and reducing emissions and waste are issues of importance to which stakeholder
    12·1 answer
  • A $53 petty cash fund has cash of $24 and receipts of $37. The journal entry to replenish the account would include a
    5·1 answer
  • Eccles Inc. Eccles Inc., a zero growth firm, has an expected EBIT of $100,000 and a corporate tax rate of 30%. Eccles uses $500,
    15·1 answer
  • In the labor market, the supply curve represents A) the workers and the demand curve represents the product of the labor. B) the
    5·1 answer
  • An accounting worker who processes routine details about accounting transactions
    8·1 answer
  • When the price elasticity of demand for a good is very elastic, quantity demanded is _____ to a change in price and the demand c
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!