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2 years ago

In a pure market economy, the "What to produce?" question is ultimately answered by:

Business

1 answer:

Genrish500 [490]2 years ago

8 0

In a pure market economy, the "What to produce?" question is ultimately answered by : consumer sovereignty.

Explanation:

Market autonomy is a two-way economic concept. Market autonomy in production applies to what finished products should be produced from these materials to the control power of the customers over those with scarce resources.

For example, the highest levels of consumer autonomy occur of consumers on the free market. The customer can buy any product in any quantity he wants. But the state or central government decides what to manufacture in a command economy.

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Closing the Accounts of a Merchandiser From the following list, identify the accounts that should be closed to Income Summary at

mixer [17]

Answer:

Advertising Expense , Cost of Merchandise Sold , Merchandise Inventory, Sales,Supplies Expense are closed to income summary account. Revenues and expenses are closed to Income Summary.

Explanation:

Closing Entries

a. Accounts Payable: No it is not closed to income summary account.

b. Advertising Expense: Yes it is closed to income summary account.

c. Cost of Merchandise Sold: Yes it is closed to income summary account.

d. Dividends : No these are closed To Retained Earnings Accounts.

e. Merchandise Inventory : Yes it is closed to income summary account

f. Sales Yes it is closed to income summary account

g. Supplies: No prepaid supplies are an asset account and it is included balance sheet.

h. Supplies Expense: Yes it is closed to income summary account

i. Wages Payable: Not closed in the income summary account.

These are liabilities and included in the balance sheet.

8 0

3 years ago

A property title search firm is contemplating using online software to increase its search productivity. Currently an average of

Brrunno [24]

Answer:

Explanation:

Productivity per unput dollar=Fees charged from clients/total cost to firm

There are 3 options:

1. Using current software:

Av time=40 min

Researcher's cost=$2 a min

Total cost=40*2=80

Productivity per dollar input=Fees charged from clients/total cost to firm= 400/80=$5

Using company A's software

Av time=30min

Cost of reducing av time=$3.5

Researcher's cost=$2

Total =30*2+3.5=63.50

Productivity per dollar input=400/63.5=6.3

Using company B's software

Av time = 28 min

Cost of reducing av time=$3.6

Researcher's cost=$2

Total cost=28*2+3.6=59.6

Productivity per dollar input=400/59.6=$6.71

Answer - Using company B's software

3 0

2 years ago

You have decided to buy a used car. The dealer has offered you two options: (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use

Jobisdone [24]

Answer:

$17,167

Explanation:

The first step is to calculate amount of cash that would be charged

For 30 months, pay $520 per month for 30 months and an additional $10,000 at the end of 30 months.

Present value is = 2,221

Then

The present value of the payment options is =

($520 * PVA (24% 12,30) + $10,000 PV ( 24% 12,30))

$520 * 22.396 + $10,000 * 0.5521

$11646 + $ 5521

$17,167

Therefore the amount of cash the car dealer would charge is $17,167

7 0

2 years ago

What is a digital footprint?

mrs_skeptik [129]

A digital footprint is information about a particular person that exists on the web as a result of their internet activity.

4 0

2 years ago

Read 2 more answers

In a few sentences, explain what it means to be financially responsible.

Elina [12.6K]

Financially responsible means to be prepared for something unexpectedly like u didn’t know was coming up or was gonna happen and it mean you need be able to support yourself with any source of income.

8 0

2 years ago