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Sav [38]
2 years ago
7

Adam Smith taught that individual buyers and sellers who act in their own self interest frequently promote​ society's interest.

What assumption is needed for​ society's interest to be​ promoted?
Business
1 answer:
alexgriva [62]2 years ago
7 0

Answer:

All of the above

Explanation:

In a market economy, most businesses have most of the resources available to them such as labor, land, and capital. They make use of voluntary decisions, that are made in their own self-interest, to achieve the highest personal benefit from various marketplace activities and transactions.

Self-interest dominate in capitalist economies where goods and services are exchanged with ease. These forces are responsible for driving the supply and demand for goods and services as well as the value of goods and services.

Adam Smith was one of the first economists to explain how self-interest and rational self-interest in a free-market economy can result to the entire economic well-being.

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Porter Co. owned all of the voting common stock of Simi Corp. The corporations' balance sheets dated December 31, 2018, include
Katena32 [7]

Answer: $672,000

Explanation:

Porter sold land to Simi which means that their land balance reduces. Simi's however increases by the same amount. As Porter owned all the voting stock, the sale will be accounted for at the book value.

The Consolidated balance for land in 2020 will therefore be calculated as,

= (Porter land value - Sales price) + (Simi land value + Sales price)

= (416,000 - 65,000) + (256,000 + 65,000)

= 351,000 + 321,000

= $672,000

The book value of the Consolidated land will be $672,000 in 2020.

3 0
3 years ago
How do property rights benefit entrepreneurs?
nexus9112 [7]
Property rights can help the entrepreneurs by enabling them to purchase capital and use it as they fit. having the rights means they can use the property for martgage and raise loans,or show as an asset and acquire capital on its worth. they can sublet the property and get resources from the rent as well
7 0
3 years ago
Read 2 more answers
What is your opinion on the saying "If it doesn't challenge you, it doesn't change you"?
yawa3891 [41]

Answer:

I believe this saying refers to how we need challenges in our lives so that we can experience failure and learn from it.

5 0
3 years ago
Number of setups and number of components are identified as activity-cost drivers for overhead. Assuming an activity-based costi
Stolb23 [73]

Barnes Corporation manufactures two models of office chairs, a standard and a deluxe model. The following activity and cost information has been compiled.

                                   Number of             Number of              Number of

Product                          Setups              Components     Direct Labor Hours

Standard                          22                           8                              375

Deluxe                             28                          12                              225

Overhead costs      $20,000                      $40,000

Answer:

Barnes Corporation

The total amount of overhead costs assigned to the deluxe model (using an activity-based costing system) is:

= $35,200.

Explanation:

a) Data and Calculations:

                            Overhead Costs  Standard  Deluxe Total Overhead Rate

Setups                          $20,000           22           28        50   $400 ($20,000/50)

Components                $40,000             8            12        20   $2,000 ($40,000/20)

Direct Labor Hours                             375         225      600

Total overhead costs  $60,000

Amount of overhead costs assigned to the deluxe model:

Set up costs = $11,200 (28 * $400)

Components costs = $24,000 (12 * $2,000)

Total overheads assigned = $35,200

4 0
2 years ago
Draw five sector of macroeconomic model​
solong [7]

Answer:

Here's my Macroeconomic model.

Explanation:

Thus, the five-sector model includes (1) households, (2) firms, (3) government, (4) the rest of the world, and (5) the financial sector. The financial sector includes banks and non-bank intermediaries that engage in borrowing (savings from households) and lending (investments in firms).

8 0
3 years ago
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