Answer:
The correct answer is letter "D": supply and demand determine prices and prices, in turn, allocate the economy's scarce resources.
Explanation:
In a Market Economy, economic decisions and prices are determined by market forces rather than by central planning. Market forces refer to the collective effects of all the decisions made by individuals participants in the economy such as consumers and businesses according to their free will.
In other words, supply and demand are the regulators of a Market Economy determining prices also allocating scarce resources.
Answer:
Bounded rationality.
Explanation:
Bounded rationality is the possibility that in decision-making, rationality of people is restricted by the data they have, the subjective impediments of their psyches, and the limited measure of time they need to settle on a decision.
Answer:
ADDITIONAL REVENUE & ADDITIONAL COST
Explanation:
If Korey has made the decision to bring on an extra hand to help run the store in the afternoons and the new employee will make $435 per month; then there are 2 changes that will happen to the monthly net income
1. Increased Revenue: Since the new employee will be bringing in additional revenue of $435, then the direct impact of that is an increment in the revenue line of the income statement
2. Increased Costs: Secondly, this change will affect Korey's monthly net income in the area of cost because he has to pay the extra hand some sort of monthly salaries which will have a reducing effect on profit.
Hello!
the full faith and credit clause explains the fact that states within the United States have to respect the public acts, records, and judicial proceedings of every other state.
for example, if someone has a driver's license in Vermont, it will be considered valid in new mexico.
or if someone were to get married in California, they would still be married if they move to Virginia.
I hope this helps, and have a nice day!
