All categories

4 years ago

The lesson you learned that a market economy is where the prices of services and goods are determined through a free system.

Business

1 answer:

kumpel [21]4 years ago

5 0

Answer:

There are a few disadvantages of a free market economy.

Explanation:

A free market economy allows individuals to innovate. They have freedom to create new ideas and new products or services for profit. They do not have to follow the government for doing so. This leads to economic growth and expansion of businesses.

The disadvantage created through this system is that this leads to poor working conditions for employees in the companies. Products that are not profitable would not be produced.

For earning huge profits, the quality of the product might be deteriorated. Companies may take unethical decisions just to earn more profits. There would be unhealthy competition.

You might be interested in

From the list below, choose the one type of information that could be used to identify who you are.

Zanzabum

The date you were born

5 0

4 years ago

1. Applying Overhead to Jobs, Costing Jobs Gorman Company builds internal conveyor equipment to client specifications. On Octobe

Nezavi [6.7K]

Answer:

Job 877 878 879 880

Beginning 18,640

Materials 14,460 6,000 3,500 1,800

Labor 14,800 8,500 1,750 2,150

Overhead 11,840 6,800 1,400 1,720

Total 59,740 21,300 6,650 5,670

WIP 21300 + 6650 + 5670 = 33,620

Job 877 59,740 x (1 + 50%) = 89610

Explanation:

The overhead will be calcualte as 80% of the labor cost as tstated in the assignment

Then, the total cost will be the sum of the three cost component added during the period andthe beginnign WIP is there is any,

as job 877 is complete it will be removed from WIP leaving only the other three jobs.

the markup is 50% of the cost so we simply multiply cost by 1.5

8 0

3 years ago

Ruth Company showed the following balances at the end of its first year.

Tom [10]

Answer:Option $29,400

Explanation:

The credit items that will be shown on the trial balance are as follows

Accounts payable 2800

Notes Payable 4200

Denton Capital 1400

Revenues 21000

Total Credits in 29400

trial balance

In a trial balance the total debit and credit items should balance. Trial balance has all the items that are posted in the general ledger account. It is a book keeping work sheet that contains the balance of all ledgers. At end of reporting time trial balance is prepared by the company.

3 0

3 years ago

____ is the process of gathering, storing, accessing, and analyzing data about a company in order to make better business decisi

scoundrel [369]

Every process that has to do with gathering, storing accessing and analyzing data for a company to make business decisions is referred to as: Business Intelligence.

The business world is faced with many vagaries such as risks and uncertainties. Every business intends to minimize cost and maximize profits. In order to do this, wise and better decisions must be made daily.

For business decisions to be made, predictive views, data mining, process analysis, descriptive analytics, and performance benching are all business intelligence entails.

Therefore, every process that has to do with gathering, storing accessing and analyzing data for a company to make business decisions is referred to as: Business Intelligence.

Learn more here:

brainly.com/question/21765674

7 0

3 years ago

The free market is moral because it’s based on merit. Individuals are rewarded when they produce goods and provide services that

kakasveta [241]

Answer:

moral of the market

Explanation:

According to my research on the free market, I can say that based on the information provided within the question this is also referred to as the moral of the market. This, like mentioned in the question, is basically the act of thinking about other people as well as what is morally right when dealing with production and selling of goods in a free market.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

5 0

4 years ago