List three reasons why a price-based system works more efficiently than central planning.

1 answer:

6 0

Three reasons a price-based system works more efficiently than central planning are flexibility, a larger selection of goods, and resources are used entirely.

Price based systems are more efficient because the demand from a product determines its price. Only enough product is produces that the market demands. Excess surpluses are not generated in a price based system.

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Constable Co. reported the following information at December 31, Year 1: Accounts Payable $ 4,620 Accounts Receivable 9,470 Cash

avanturin [10]

Answer:

The total of the credit balance accounts is $117,260

Explanation:

In the classified balance sheet, we summarize the asset and liabilities into various types

Like assets are divided into fixed assets, current assets, and intangible assets.

Likewise, liabilities are also divided into current liabilities, long term liabilities

In every balance sheet, the accounting equation has used that means

Total assets = Total liabilities + Shareholder equity

The total assets have the debit balances whereas the total liabilities and the shareholder equity have the credit balances

So, The computation is shown below:

= Accounts Payable + Common Stock + Notes Payable + Retained Earnings + Wages Payable

= $4,620 + $91,200 + $2,620 + $14,210 + $4,610

= $117,260

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3 years ago

On a total product curve with labor on the horizontal axis, the inflection point represents the quantity of labor where

emmainna [20.7K]

The appropriate response is the marginal product of labor is at its most elevated. In financial aspects, the marginal product of labor (MPL) is the adjustment in yield that outcomes from utilizing an additional unit of work. The minimal result of an element of generation is by and large characterized as the adjustment in yield-related with an adjustment in that component, holding different contributions to creation steady.

3 0

3 years ago

Why can deadweight loss occur when a price is below the equilibrium even when some consumers benefit from it?

soldi70 [24.7K]

When a shortage occurs, some consumers are fortunate enough to benefit from a lower price if they purchase the good or service before the price increase occurs.

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3 years ago

To build wealth is a gamble; the wealthy people are lucky and become rich overnight. True or false

klasskru [66]

This seems like a rather subjective question. Wealth is built over a lifetime with income. Inheritance is definitely one way to become wealthy, so I would say True

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3 years ago

Which one of these equations is an accurate expression of the balance sheet? Assets ≡ Liabilities −Stockholders’ equity Stockhol

Greeley [361]

Answer:

Stockholders’ equity ≡ Assets −Liabilities

Explanation:

The Balance Sheet equation is also known as the Accounting equation. It can be written in 3 ways as :

Assets = Equity + Liabilities

Equity = Assets - Liabilities

Liabilities = Assets - Equity

3 0

3 years ago