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marshall27 [118]

3 years ago

7

An economic system based on open competition in a free market, in which individuals and companies own the means of production an

d operate for profit

1 answer:

irga5000 [103]3 years ago

7 0

I think it is Capitalism hope that help

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Some economists have argued that, because domestic consumers gain more from free trade than domestic producers gain from (import

lana66690 [7]

<u>The reason the tariffs exists:</u>

The shift from tariff along free trade increases the consumer surplus as compared to the decline in the producer surplus. By this consumers can compensate the producers for the loss they have faced.

However,there are various other problems in relation to the shift. Generally, there will be a transaction cost of tariff besides the producer's loss surplus. There are several non economic issues that stimulates local producers to go on with tariff instead of getting compensation for the economic loss.

Generally, tariffs are imposed for any one of the following reasons,

To protect newly established domestic industries from foreign competition.
To limit the number of imports.
To protect local producers from getting dumped by foreign companies.
To raise revenue.

4 0

3 years ago

A summary of the materials requisitions completed during a period serves as the basis for transferring the cost of the materials

Anettt [7]

Answer:

a.Work in Process and Finished Goods

Explanation:

The summary of materials requisitions shows all request for raw materials used for production.

When raw materials are obtained, they go into the factory where production begins. Raw material is converted to finished goods which are then sold.

The inventory that represents raw materials received in the factory is Work in progress and finished goods.

So when transferring cost of materials it should be transfered to work in progress and finished goods, as these accurately represent the converted raw material recieved.

4 0

3 years ago

Journ Co. purchased short-term investments in available-for-sale securities at a cost of $64,000 on November 25, 2017. At Decemb

d1i1m1o1n [39]

Answer:

On December 31, 2017:

Debit: Fair value adjustment - loss = $4,400

Credit: Securities available for sale = $4,400

<u>On April 6, 2018</u>

Debit: Cash account $26,000

Debit: Loss on sale of securities $3,800

Credit: Securities available for sale $29,800

<u></u>

Explanation:

<u>On December 31, 2017:</u>

Compare the cost/carrying value of the securities with its fair value on the reporting date.

Debit: Fair value adjustment - loss = $4,400

Credit: Securities available for sale = $4,400

<u>Working of loss:</u>

Cost = $64,000

Fair value of security = $59,600

Since, fair value of security is less, therefore, it is a loss:

Amount of loss = $64,000 - $59,600

Amount of loss = $4,400

<u>On sale of securities: April 6, 2018</u>

Comparing the sale of securities with its fair value at the date of sale: on April 6, 2018.

Since sold half of the securities only:

Debit: Cash account $26,000

Debit: Loss on sale of securities $3,800

Credit: Securities available for sale $29,800

Working:

Half of the investment fair value = $59,600/2 = $29,800

5 0

3 years ago

The demand for apples in the U.S. is Qus = 800 - 20P, and Foreign Demand for apples is Qf = 1200 - 40P, where quantity demanded

MA_775_DIABLO [31]

Answer:

Option (2) is correct.

$20; 800

400;400

Explanation:

Given that,

Demand for apples in the U.S. : Qus = 800 - 20P

Foreign Demand for apples: Qf = 1200 - 40P

World Demand for apples, Qwd

= Demand for apples in the U.S. + Foreign Demand for apples

= Qus + Qf

= 800 - 20P + 1200 - 40P

= 2,000 - 60P

Equilibrium price for apples is at a point where the world supply is equal to the world demand for apples:

Qwd = Qws

2,000 - 60P = 200 + 30P

1,800 = 90P

P = 20 ⇒ world equilibrium price for apples

Therefore,

world supply of apples is Qs = 200 + 30P

= 200 + 30(20)

= 200 + 600

= 800

At equilibrium Pw = $20

Demand for apples in the U.S. : Qus = 800 - 20P

= 800 - 20(20)

= 800 - 400

= 400

5 0

4 years ago

If a cost is a common cost of the segments on a segmented income statement, the cost should:_________.

worty [1.4K]

Answer:

the correct answer is

If a cost is a common cost of the segments on a segmented income statement, the costshould:A) be allocated to the segments on the basis of segment sales.

Explanation:

hope this helps u!!!

8 0

4 years ago