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3 years ago

Loss is the value of the economic surplus that is forgone when a market is not allowed to adjust to its competitive equilibrium.

Business

1 answer:

avanturin [10]3 years ago

7 0

Answer:

True (Dead-weight loss )

Explanation:

When the market is not allowed to adjust towards the equilibrium the economics efficiency is lost. When the supply is excessive compared to demand some part of supply remains intact, which means that small of amount of supply does not contribute to economics and allocation efficiency and considered as a dead-weight loss. The supply is forgone because the market is not allowed to stabilise.

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Prepare journal entries to record the following transactions for a retail store. The company uses a perpetual inventory system a

anzhelika [568]

Answer:

April 2

Merchandise $6,200 (debit)

Accounts Payable : Lyon Company $6,200 (credit)

Purchase of Merchandise on credit from Lyon Company (FOB)

April 3

Accounts Payable : Lyon Company $200 (debit)

Cash $200 (credit)

Payment of Shipping Costs included in the Invoice

April 4

Accounts Payable : Lyon Company $450 (debit)

Merchandise $450 (credit)

Return of unacceptable merchandise to Lyon Company

April 17

Accounts Payable : Lyon Company $5,550 (debit)

Discount Received $111 (credit)

Cash $5,439 (credit)

Settlement of Account with supplier and recognition of discount received

April 18

Merchandise $11,700 (debit)

Accounts Payable : Frist Corp $11,700 (credit)

Purchase of Merchandise on credit from Frist Corp (FOB)

April 21

Accounts Payable : Frist Corp $500 (debit)

Merchandise $500 (credit)

Allowance received from supplier (Frist Corp)

Explanation:

There is some missing transactions for the dates closer to end of April.

However the rest of the journals and their narrations have been prepared. This will help with completing the rest of the transactions.

See journals above.

6 0

3 years ago

Which of the following most accurately explains why even if you won $1 million in a lottery, you still would not escape the scar

liubo4ka [24]

Answer:

All Individuals, whether rich or poor,are dissatisfied with their material well-being and would like more.

Explanation:

Individuals wanting more and not being satisfied with their material well being goes back to the fundamental problem of economics-unlimited human wants. Economists argue that human wants are unlimited and insatiable irrespective of their economic class. Whether rich or poor, no man is satisfied with his material well-being. Every man still feel something is lacking after acquiring so much or so little. He still has the scarcity problem.

This never-ending desire is embedded in the physiological make up of a man. When a man gets food, then he wants house. When he gets house, he wants car. When he gets a car, he wants to buy a private jet. In short, the more he gets, the more he wants more.

And that`s is the reason why you would win $1 million and stills not satisfied with having enough. You would still believe you lack something. You would still want to acquire more just to solve this scarcity problem.

Other options do not explain the problem ; they just points at microeconomics and macroeconomics issues.

5 0

3 years ago

Which of the following is the least liquid investment A. Savings account B. CD C. Mutual fund D. Cookie jar

Drupady [299]

Hello there!

The correct answer is option D- Cookie jar

As always, it is my pleasure to help students like you!

4 0

3 years ago

A set of rules that allows an administrator granular control over the configuration of objects in Active Directory (AD), includi

Tema [17]

Answer:

group purchasing organization (GPO)

Explanation:

A Group Policy Object (GPO) is set of standards that offer Active Directory (AD) manager granular permissions over objective configuration, involving accounts, operating systems, programs, as well as other AD items. GPOs are also used to control the Active Directory system centrally and to customize it. The interpretation of code parameters will also included in this.

A group purchasing organization (GPO) in United States is an organization created to exploit a group of companies ' buying power to receive discounts from suppliers based on the mutual purchase power of GPO members '

6 0

3 years ago

A question that can be answered by observing and analyzing the world as it is known:

gizmo_the_mogwai [7]

Empirical Question is a question that can be answered by observing and analyzing the world as it is known:

5 0

3 years ago