For the market to reach equilibrium, you would expect prices to rise.
<h3>What is a shortage?</h3>
A shortage exists when quantity demanded exceeds quantity supplied. This is because price is below equilibrium price. Equilibrium price is the price at which quantity demanded is equal to quantity supplied.
For a shortage to be resolved, prices would rise until equilibrium price is reached.
To learn more about equilibrium, please check: brainly.com/question/26075805
The correct answer is - C) planned economies.
The socialist economy type is a planned economy. The planning though is for the whole economy, and it is done by the government officials. This type of economy was witnessed in multiple places around the world, USSR, Yugoslavia, Cuba, China, and more recently in Venezuela, Libya, and North Korea.
In general, this type of economy seems to often have very big problems because of the planning, as it more often than not is mistaken. That has often led to making huge debts, famines, and suffering of the people, and eventually this systems tend to fall apart.
The only exception seems to be Libya, under the rule of Gaddafi, where the economy and the society were thriving, but it was all ruined by a foreign intervention.
Answer:
a. The $25,000 is deductible as a current expense.
b. The $25,000 is still deductible as a current expense.
Explanation:
a.They open a bagel shop in the city?
The $25,000 spent on travel, surveys, and financial forecasts will be treated as an an ordinary and necessary business expense. The reason is that it is spent to carry out an investigation necessary for expanding their already existing business. Therefore, the $25,000 is deductible as a current expense.
b. They decide not to open a bagel shop in the city?
It does not matter whether they open the bagel shop in the city or not. The $25,000 spent on investigation will still be treated as an an ordinary and necessary business expense, since it is spent to expand existing active business. The $25,000 is still deductible as a current expense.
I think the answer is Web banners
Answer: Your competitor in fine furniture.
Explanation:
If as stated in the question, my competitor is able to produce more fine furniture than me, from the same amount of resources, that means that my competitor has a comparative advantage over me in furniture making. Comparative advantage is the process whereby a business can be more productive than their competitors, with the same amount of resources.
