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Assoli18 [71]
3 years ago
6

In a planned economy, prices of commodities are controlled by _________.

Business
1 answer:
GalinKa [24]3 years ago
4 0

The correct answer is C. The government

Explanation:

The key feature of a planned economy is the strong influence and control of government in the economy. Indeed, in a planned economy it is the government the entity that decides on trade and production, this includes the prices of goods and the types of products that should be manufactured. Moreover, this does not occur in market economies because in these customers, produces and the law of supply/demand determine factors of the economy. According to this, in a planned economy prices are controlled by government.

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For each example listed, decide if the good is a normal good or an inferior good. Make sure you answer from the perspective of t
babymother [125]

Answer:

Billy's mom increases his weekly allowance by $ 55 . As a result, Billy increases the number of apps he downloads on his smartphone.

If with increase in income demand increases, the good will be a normal good. Thus, apps that billy downloads are normal goods.

Susan gets a 15 percent performance bonus at work. She can finally stop eating so many frozen pizzas and eat something more tasty. Frozen pizzas are: Inferior goods

Here with increase in income, the demand for a commodity falls, the so called commodity is a inferior good. Thus, in this case frozen pizzas are inferior goods.

Mike is an appliance salesman. Refrigerator sales in his store have fallen and so has his commission. Mike decides to switch from name brand cereal to generic cereal. Generic cereal is: Inferior goods

If there is a fall in income and thus demand increases, the good is inferior. Thus, in this case generic cereal is an inferior good.

Hair stylist Molly loses a few of her clients. Molly cuts back on the number of smoothies she buys during the week. Smoothies are: Normal goods

If there is a decrease in income and thus demand falls, the good is normal. Thus, smoothies as commodity in this case will be refereed to as normal goods.

5 0
3 years ago
Task 1 . The income (in thousand $) of 5 small companies labeled AA , BB , CC , DD , EE has been calculated and the results are
Georgia [21]

Answer:

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Explanation:

7 0
3 years ago
Abarrier along the open sides of stairways and platforms that prevent falling is
kotykmax [81]
Stair rails is a barrier along the open sides of stairways and platforms that prevent falling is
4 0
3 years ago
Suppose output is $35 billion, government purchases are $10 billion, desired consumption is $15 billion, and desired investment
Alex17521 [72]

Answer:

Net foreign lending would be equal to <u>$4 billion</u>.

Explanation:

This can be computed using the formula for computing the total output of an open economy as follows:

Y = C + G + I + NX .................................. (1)

Where;

Y = Total Output = $35 billion

C = Desired consumption = $15 billion

G = Government purchases = $10 billion

I = Desired investment = $6 billion

NX = Net foreign lending = ?

Substituting the values into equation (1) and solve for NX, we have:

$35 = $15 + $10 + $6 + NX

$35 - $15 - $10 - $6 = NX

NX = $4 billion

Therefore, net foreign lending would be equal to <u>$4 billion</u>.

8 0
3 years ago
______ property refers to property that is the product of any innovative activity, such as a screenplay, a music score, or the c
solniwko [45]

Answer:

Intellectual property

Explanation:

Intellectual property -

It is category of property , which consists of the intangible creations of the human intellect , is referred to as intellectual property.

The example of the Intellectual property are - trade secrets , trademarks ,  patents and  copyrights .

It refers to the outcome of some innovative activity , like music , plays etc.

Hence, from the given information of the question,

The correct term is Intellectual property .

6 0
3 years ago
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