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3 years ago

Writing About Economics

Business

1 answer:

enot [183]3 years ago

4 0

Answer:

Russia and China used to be command economy with the property rights lying solely with the government and the means of production, except labour were owned entirelyby the government. However, the command economy demanded long term planning that needed to be ultra accurate.moreover the system it self gave rise ro bureaucracy and dictatorial regimes, increasing the power centralization and the state corruption and lessening the innovative spirit of the nation.

Capitalism got rid of most of the problems in the command economy. It was accompanied by the democratic reforms in Russia and this led to more transparency. Moreover, the capitalist style social market economy in China introduced private ownership and Entrepreneurship l along with the concept of state owned companies.

In addition, the function of the price mechanism was pivotal as well. Instead of thorough and detailed planning, the resources were distributed by the price and the market demand and supply.

Explanation:

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Nicole owns and operates two restaurants. The revenue of the first restaurant at time t is f(t) dollars, and the revenue of the

kati45 [8]

Answer:

$F(t)=f(t)+g(t)$ represents the TOTAL revenue at time $t$ .

Explanation:

$f(t)$ is the revenue at the time $t$ at the first restaurant.

$g(t)$ is the revenue at the time $t$ at the second restaurant.

If we want to know the TOTAL revenue at the time $t$ , we would sum these quantities:

TOTAL revenue = $f(t)+g(t)$

So $F(t)=f(t)+g(t)$ represents the TOTAL revenue at time $t$ .

7 0

3 years ago

there were 200 tickets sold for a college basketball game. Tickets were $4.50 for students and $9 for adults. The total amount c

Virty [35]

Answer:

$70$ tickets were sold to student and $130$ tickets were sold to adults

Explanation:

Let the number of tickets purchased by students be "X" and the number of tickets purchased by adults be "Y"

Given

Total number of tickets sold $= 200$

Total amount collected by selling $200$ tickets $= 1485$ dollar

Cost of one ticket of student $= 4.5$ dollar

Cost of one ticket of adult $=$ 9 dollar

Two equation are as follows

$X + Y = 200\\$ ------Eq (1)

$4.5 X + 9 Y =1485$ -------- Eq (2)

Multiplying eq (1) by 9 and subtracting from equation 2 we get

$4.5 X - 9 X + 9Y -9Y = 1485 - (200* 9)\\-4.5 X = -315\\X = 70$

Substituting the value of X in equation 1 we get

$70 + Y = 200\\Y = 200 -70 \\Y = 130$

Therefore, $70$ tickets were sold to student and $130$ tickets were sold to adults

8 0

3 years ago

Cedric has been following a detailed review schedule in preparation for his test. He feels confident that he knows the material,

rewona [7]

Answer: Noting down of ideas

Explanation: Cedric could note down the ideas and points he remembers on the back of his test booklet. He should first read the question and make short notes of every point he remembers regarding that question.

This strategy will help Cedric to answer the questions while doing the final writing in answer sheet. By doing this he can also improve his speed with accuracy while answering.

5 0

3 years ago

Smith Pharmaceuticals is trying to estimate the breakeven volume of sales on a newly developed drug. Which of the following woul

ahrayia [7]

Answer:

An increase in the unit (per pill) contribution margin.

Explanation:

Breakeven point is defined as the level of sales where total cost is equal to total revenue.

The formula is given as

Breakeven= Fixed cost ÷ (Sales revenue -Variable cost)

Note the Sales revenue less variable cost is the contributing margin.

Breakeven= Fixed cost ÷ Contributing margin

To reduce breakeven we must either reduce the numerator or increase the denominator.

In this case an increase in contributing margin will result in a decrease in breakeven amount of the company.

8 0

3 years ago

Molteni Motors Inc. recently reported $3 million of net income. Its EBIT was $6.75 million, and its tax rate was 40%. What was i

blsea [12.9K]

Answer:

Interest= $1750000

Explanation:

We know that:

EBIT

interest (-)

=earnings before taxes

tax (-)

=Net profit

EBIT= 6750000

Interest= ?

t= 0,40

Net profit= 3000000

interest= [netprofit/(1-t)]- EBIT

interest= (3000000/0,60)-6750000

interest= 1750000

Tax=(EBIT-interest)*0,35= 2000000

7 0

3 years ago