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3 years ago

True or false In a pure market economy, the government controls most actions.

Business

2 answers:

Sonbull [250]3 years ago

5 0

False i hope its right

nasty-shy [4]3 years ago

3 0

Answer:

It is false that in a pure market economy the government controls most actions.

Explanation:

In the theory of economic systems, the market economy refers to an economic system in which the right to decide and act is distributed by the legal institute of private ownership of the means of production. Planning and coordination of economic processes are decentralized. The individual usage plans of households and companies (use of income and profits) and the development plans (profit generation and income generation) are coordinated by market prices. This coordination includes the allocation and distribution of individual goods through market prices on the one hand and the allocation and distribution of public goods through political decisions on the other hand. The individual plans of economic agents are coordinated with each other via market prices and placed in a macroeconomic accounting context by linking the markets.

In economic theory, the market economy is seen as a self-regulating and self-optimizing system, assuming that economic subjects have the freedom to make decisions and act. Therefore, the idealized market economy is also perceived as a free market economy. However, real markets sometimes deviate significantly from this idealized model concept.

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The difference between the revenue that a company brings in from selling goods and services and the cost of generating this reve

vitfil [10]

Answer:

<u>Profit</u>

Explanation:

Revenue refers to the total receipts by a business for the sale of it's output.

Cost refers to the expenditure incurred for manufacturing products or creating a service.

The difference between the above two i.e revenue and costs, is termed as profit.

Profit can be of two types, economic profit and accounting profit. Accounting profit is calculated by deducting actual costs incurred from total receipts.

Economic profit on the other hand also considers implicit costs i.e opportunity costs, while calculating profits.

6 0

3 years ago

When the economy starts expanding there is a/an __________ in the term premium and a/an ___________ in the risk premium. Group o

makkiz [27]

Answer:

Increase in premium

Decrease in the risk premium

Explanation:

Premium can be defined as the rewards earned by investors who has decided to engage in new businesses in a risk free state while risk premium is defined as the excess reward earned above the free risk rate that is expected to earn in the course of investment.In order word , it is a form of compensation for the risk undertaken .

As economy starts expanding , one of the consequences is that the premium will increase while the development reduces related risks and risk premium reduces.

3 0

3 years ago

Comparing costs under ABC to traditional plantwide overhead rate LO P1, P3 Smythe Co. makes furniture. The following data are ta

erastovalidia [21]

Answer:

Chairs= $2.805

Tables= $2.25

Explanation:

Giving the following information:

Hazardous waste disposal costs= $630,000

Production:

Chairs= 211,000

Tables= 17,000 units

Direct labor hours required:

Chairs= 254,000 DLH

Tables= 16,400 DLH

Total DLH= 270,400

First, we need to calculate the estimated overhead rate:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 630,000/ 270,400

Estimated manufacturing overhead rate= $2.33 per direct labor hour

Now, we can allocate overhead to each product line:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Chairs= 2.33*254,000= $591,820

Tables= 2.33*16,400= $38,212

Finally overhead per unit:

Chairs= 591,820/211,000= $2.805

Tables= 38,212/17,000= $2.25

3 0

3 years ago

Tyare Corporation had the following inventory balances at the beginning and end of May: May 1 May 30 Raw materials $ 28,500 $ 36

Serjik [45]

Answer:

Check the explanation

Explanation:

The raw material that was used during the month is calculated by adding beginning inventory with purchases and deducting the ending inventory from it.

Here from the below equation, only the purchase are not given, so we put the figures in the formulas and get the amount of purchases.

The beginning and ending balance are also given only purchases are rising, which can be calculated as given above.

Kindly check the workings in the attached image below.

3 0

3 years ago

Read 2 more answers

Greta is responsible for the organization and distribution of relief packages to nations affected byfamine throughout the world.

joja [24]

Answer: Significance.

Explanation:

Greta organization has a job with a high degree of significance, because the organization helps to send vital relief materials to nations struggling with famine and other natural disasters. If Greta organization doesn't perform their duties many lives could be lost due to hunger.

7 0

3 years ago