Answer:
<h2>In a market economy,the impact of supply and demand determines the prices of goods and services which in sequence influence the allocation of economy's scarce resources.Hence,the correct answer wold be option b.</h2><h2 />
Explanation:
In a market economy,much of the economic and commercial activities such as production,investment,allocation,consumption of goods and services are governed by their market prices which are determined completely by the free forces of supply and demand in the economy.In a market economic system,the factors or inputs of production are owned and allocated by the independent or private business organisations or firms with limited government or state control over the means of production.Majority of the commodity and service markets are free of any external state or government intervention and operate freely based on the movements and fluctuations of the market prices of goods and services which are determined by the changes in market demand or supply.Therefore,economic allocation or arrangements of goods and services in a market economy is mostly determined by the free interaction of demand and supply
Answer:
C) Credit card companies want to increase profits by promoting slower repayment, and actual customer repayments will be anchored by the smaller payment options
Explanation:
It is always a bad idea to only pay the minimum monthly payment on a credit card debt, since the APR charged is much higher than other personal loans. If someone only makes the minimum payment and continues to purchase goods or pay services, their balance will continue to grow.
Answer:
The answer is 60%
Explanation:
Labor force is the total number of people that have job(employed) and the number of people who are willing, able and actively searching for job(unemployed) in a population.
Labor force participation rate is calculated by dividing the labor force by the noninstitutionalized population.
Labor force = employed + underemployed + unemployed
= 96 + 31 + 8
=135 million
So we have:
(135 ÷ 243) x 100 percent.
60% (the nearest whole percentage)
Answer:
The quantity of labour demanded increases ad production increases
Explanation:
When price level rises and the money wage rate stays the same, the real money wage rate falls. This makes it cheaper for firms to hire labour. As a result, their demand for labour increases and this leads to an increase in production.
Answer:
D) not able to be calculated from the information given.
Explanation:
Consumer surplus is the difference between willingness to pay of a consumer and the price actually paid for a good or service.
The price paid by Smith is $205,000 but there's no information on the willingness to pay of Smith. Therefore, the consumer surplus can't be calculated.
I hope my answer helps you.
