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Sauron [17]
3 years ago
7

According to Adam​ Smith, which of the following is necessary for the proper functioning of the market​ system?

Business
1 answer:
nlexa [21]3 years ago
4 0

Answer:

The correct answer is the option C: For markets to work, people must be free to pursue their self-interest.

Explanation:

To begin with, Adam Smith was a Scottish economist, philosopher and author known as ''The Father os Economics'' and whose works established the basics of today's economics.

To continue, in Smith's most known classic work, ''An Inquiry into the Nature and Causes of the Wealth of Nations'', he established the concept called the <u><em>''invisible hand''</em></u><u> </u>that states that <u><em>in order to the economy to work properly, the people must be free to pursue their self-interest products without no restrictions from the government</em></u>.

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In macroeconomics, ___________________________ describes a situation in which two people each want to exchange some good or serv
Tomtit [17]

Answer:

The correct answer to the following question is option B) a double coincidence of wants .

Explanation:

The term double coincidence of wants ( which is also know as coincidence of wants ) can be defined as a situation where a buyer and seller can simultaneously fulfill each other's needs and wants because both of them possess what other want. Here if both parties possess what other want , they can directly exchange it , without any use of monetary medium.

3 0
3 years ago
The marketing and administrative expense budget of Frazier Corporation is based on budgeted unit sales, which are 5,500 units fo
LenaWriter [7]

Answer: b. $106,700

Explanation:

The marketing and administrative expense budget is based on budgeted unit sales, which are 5,500 units for June.

The variable marketing and administrative expense is $1.00 per unit. Which is 5,500 units x $1.00 = $5,500.

The budgeted fixed marketing and administrative expense is $101,200.

To get the cash disbursements for marketing and administrative expenses on the June marketing and administrative expense budget should be Variable costs plus fixed costs.

= $5,500 + $101,200

= $106, 700

4 0
3 years ago
Colombo Enterprises has a defined benefit pension plan. At the end of the reporting year, the following data were available: beg
LekaFEV [45]

Answer:

A debit to pension expense for  $10,000

Explanation:

Journal Entry for pension expenses:

Explanation                     Debit             Credit

Pension Expense            $10,000

       Cash                                             $10,000

(To record pension expenses)

Pension expenses for the year ended is comprised of the following components of pension cost.

Service Cost              14,000

Interest cost               6,000

Expected return on   (10,000)

plan assets               _______

Pension expenses  <u>  $10,000</u>

3 0
3 years ago
Are the signs of the coefficient estimates consistent with expectations? Explain.
kow [346]

The sign of each coefficient indicates the direction of the relationship between a predictor variable and the response variable. A positive sign indicates that as the predictor variable increases, the response variable also increases.

What do the estimates of the regression coefficients tell us?

You may determine if each independent variable and the dependent variable have a positive or negative association by looking at the sign of a regression coefficient. A positive coefficient means that the mean of the dependent variable tends to rise when the value of the independent variable rises.

What is predictor and response variable in regression?

The risk factors and confounders are referred to as the predictors, or explanatory or independent variables, whereas the outcome variable is also known as the response or dependent variable. The independent variables are designated by "X" while the dependent variable is denoted by "Y" in regression analysis.

Learn more about predictor and response variable in regression: brainly.com/question/14144041

#SPJ4

7 0
2 years ago
Product
Nikitich [7]

Answer:

B

Explanation:

7 0
4 years ago
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