Verbal. There is not signature or paper work therefore it’s verbal
Answer:
A free enterprise economy has five important characteristics. They are: economic freedom, voluntary (willing) exchange, private property rights, the profit motive, and competition.
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Answer:
The correct answers are: greater than; less than.
Explanation:
In the perfect competition model, the nature of the scale returns poses serious problems, whatever the case considered. Sise assumes that the returns of scale are increasing, the supply of companies is infinite; if they are constant, the offer is null, infinite or indeterminate (equilibrium case); if they are decreasing, the profit of the companies is strictly positive in the balance '. In the latter case, if they could do so, companies would be interested in dividing themselves, without any limit, into entities as small as possible.
Answer:
Objectives of accounting in any business are; systematically record transactions, sort and analyzing them, prepare financial statements, assessing the financial position, and aid in decision making with financial data and information about the business.
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Answer:
b. 1/R, where R represents the reserve ratio for all banks in the economy
Explanation:
The reserve ratio can be define as the part of reservable liabilities that commercial banks must hold onto or have, rather than investing or borrowing out. This can be said to be a necessary requirement determined by every central bank of a particular country, which in the United States is the Federal Reserve. It is also known as the cash reserve ratio.
Commercial banks in the U.S are required to hold reserves against their total reservable liabilities (deposits) which cannot be borrowed out by the bank. Example of reservable liabilities include non personal time deposits, net transaction accounts and Eurocurrency liabilities.
