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vodka [1.7K]
3 years ago
9

Economic systems differ according to which two main characteristics?A. the political system in place and the degree of scarcity

facing the economy B. the technology used in production and the quantity and quality of natural resources C. how goods are produced and who gets them D. who owns the factors of production and the methods used to coordinate economic activity
Business
1 answer:
Deffense [45]3 years ago
8 0

Answer:

D. who owns the factors of production and the methods used to coordinate economic activity

Explanation:

Economic system is a system of production, resource allocation, and distribution of goods and services within a society or a given geographical area or a country. They are techniques by which a nation's government distribute resources and trade goods/services. The main ways in which economic systems differs from kme another is WHO OWNS THE FACTOR OF PRODUCTION and HOW THE ALLOCATION OF RESOURCES IS DIRECTED AND METHOD USED TO DIRECT THE ECONOMIC ACTIVITY. This distinction is a measure to the degree government plays in the economy.

Example of economic systems are - Capitalism, Socailism and Communism.

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6 0
3 years ago
Kordel Inc. acquired 75% of the outstanding common stock of Raxston Corp. Raxston currently owes Kordel $500,000 for inventory a
Nady [450]

Answer:

what amount of Raxston’s liability should be eliminated? d.$500,000

Explanation:

At different levels of the consolidation, certain intercompany payables and receivables balances must be eliminated. Eliminations are only required in the context of a consolidation where the trading parties are both included in a given consolidation.

8 0
3 years ago
A(n) ________ collects data from various key business processes and stores the data in a single comprehensive data repository, u
kotykmax [81]

Answer: Enterprise System.

Explanation:

An enterprise system is a software system used by an organization to gather information/data from different departments in the organization: The information gathered can be easily accessed or used by the different departments of the organization.

8 0
3 years ago
A business school would like to know that whether the average number of years of work experience of MBA applicants is less than
VMariaS [17]

Answer:

The test statistic t of the sample is -0.804.

There is sufficient evidence to ascertain that the average number of years of work experience of MBA applicants is less than 3 years.

Explanation:

Null hypothesis: The average number of years of work experience of MBA applicants is 3 years.

Alternate hypothesis: The average number of yet of work experience of MBA applicants is less than 3 years.

Test statistic (t) = (sample mean - population mean) ÷ sd/√n

sample mean = 2.57

population mean = 3

sd = 3.67

n = 47

t = (2.57 - 3) ÷ 3.67/√47 = -0.43 ÷ 0.535 = -0.804

Assuming a 5% significance level

degree of freedom = n - 1 = 47 - 1 = 46

The critical value corresponding to 46 degrees of freedom and 5% significance level is 2.013.

Conclusion:

Reject the null hypothesis because the test statistic -0.804 is less than the critical value 2.013.

The years of work experience of MBA applicants is less than 3.

5 0
3 years ago
Custom Engines Company has the following estimated costs for the upcoming year: Direct labor costs $62,800 Direct materials used
jenyasd209 [6]

Answer:

Predetermined manufacturing overhead rate= $33.1 per direct labor hour

Explanation:

Giving the following information:

Salary of factory supervisor $37,800

Heating and lighting costs for factory $22,900

Depreciation on factory equipment $5500

The company estimates that 2000 direct labor hours will be worked in the upcoming year.

<u>To calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= (37,800 + 22,900 + 5,500) / 2,000

Predetermined manufacturing overhead rate= $33.1 per direct labor hour

8 0
3 years ago
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