All people paid the same amount in factor payments for the resources they provide because different resources have different value.
<h3>What makes each economic system different from one another?</h3>
Traditional systems are characterized by a concentration on the fundamentals of products, services, and labor, and they are shaped by customs and beliefs. While a market system is governed by forces of supply and demand, command systems are influenced by centralized authorities. Finally, mixed economies combine market and command systems.
The money that individuals receive in exchange for providing producing inputs like land, labor, or capital. Patriotism. the ardor that drives someone to serve their country; love of one's country.
<h3>Which economy is better for society?</h3>
The reason capitalism is the best economic system is that it offers everybody in society a variety of advantages and chances. A few of these advantages involve fostering riches and innovation, enhancing people's quality of life, and empowering the populace.
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Answer:
If LIFO inventory at the end of 2016 would have been $80,000 higher using FIFO, it means that when using FIFO the cost of goods sold would have been 80,000 lower.
Which would mean that the reproted retained earnings would have been 1,750,000+ 80,000=1,830,000
Debit Credit
Inventory 80,000
Costs of good sold 80,000
Explanation:
Answer:
2016 net return on assets is 3.88%
2015 net return on assets is 4.46%
Explanation:
The net return on assets is a profitability ratio that compares net income of a business with the capital assets (fixed assets used in generating such net income,hence it is a comparative performance metric not an absolute like net income as it a profit figure might be misleading if not viewed viz-a-viz the amount of resources deployed to generating it.
net return on assets=net income/total assets:
2016:
net income is $298,300
total assets is $7,694,748
Net return on assets=$298,300/ $7,694,748=3.88%
2015:
net income is $309,120
total assets is $6,925,273
Net return on assets=$309,120/$6,925,273=4.46%
Answer:
($39,700)
Explanation:
Cash outflows:
($40,000) exchanged for common stock.
($1,200) used to pay salaries.
Cash inflows:
$1,500 received from a sale
So we have a negative 41,200 representing cash outflows, and only $1,500 in cash inflows (we are not told if the $200 billed were already received so I will leave them out). Making a simple arithmetic operation, we obtain the answer:
Cash balance = -$41,200 + $1,500
= -$39,700
Answer:
Share a good agenda for the meeting with the attendees of meeting.
Explanation:
A good agenda lays out the the <u><em>pre-meeting preparation</em></u> expected from participants and the<u><em> list of meeting activities</em></u> in ordered form.
Gwen can write a good agenda for the meeting and share it with the attendees of the meeting to make sure that everyone comes prepared and sticks to the agenda all along the meeting.
Within the meeting, Gwen may refer to the agenda multiple times to make sure she is discussing the planned activities in meeting. If she finds anything that is not the subject of meeting or agenda, she may postpone it for further review apart from the meeting, and move on.
This way, she can end up the meeting on time and while portray all the objectives on the agenda.
