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Ksju [112]
3 years ago
7

An economic system in which the interaction of supply and demand determines the quantity in which goods and services are produce

d is called a ________ system.
Business
1 answer:
OverLord2011 [107]3 years ago
6 0

Answer:

The correct answer is Market Economy.

Explanation:

The market economy is an economic system where the fundamental decisions of what, how and for whom to produce are resolved through the market.

In a market economy, the interaction of supply and demand is what determines the quantity and equilibrium price of goods and services traded. Also, the market is responsible for the distribution of income through the possession of productive factors (capital, labor, etc.)

The State, for its part, would have the role of providing a legal framework that allows free competition and initiative of companies. This includes the protection of property rights, the intermediation of conflicts (Courts) and the subsidiary action in those cases in which competition is not feasible or limited.

Basing a system on the market economy gives importance to the balances originated between suppliers and claimants, which will determine their allocations of goods and services to produce and consume, with a high degree of independence of powers or institutions.

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On July 9, Mifflin Company receives a $10,400, 90-day, 8% note from customer Payton Summers as payment on account. What entry sh
ruslelena [56]

Answer: Debit Notes Receivable $10,400; credit Accounts Receivable $10,400.

Explanation:

Mifflin Company is receiving the note back from Payton Summers which means that Payton Summers intends to settle their account. The correct entry to record therefore is one that closes off the Notes Receivable account by debiting it as it was on a credit balance.

The other account would be the Accounts Receivable account which would need to be credited by the amount owed to close off the account as it was on a debit balance as Accounts Receivables are when customers are still owing.

8 0
3 years ago
How you can get a job if you have no experience? Help me please​
tresset_1 [31]

Answer:

Subway hires inexperienced people just apply online and you should be called within a few days to start training immediately

8 0
2 years ago
Read 2 more answers
_______ are fasteners that connect parts and are intended to resist pulling forces.
lyudmila [28]
The correct answer for the question that is being presented above is this one: "d. Extension springs." Extension springs are fasteners that connect parts and are intended to resist pulling forces. They are designed to resist pulling forces. They are also known as <span>a </span>tension spring<span>, are helical wound coils, wrapped tightly together to create </span><span>tension.</span>
5 0
3 years ago
Mortagae brokers are the ones who bring the home buyers and the lenders together.<br> True / False.
Alborosie

<u>Answer:</u>

True

<u>Explanation:</u>

A mortgage broker helps a borrower connect with lenders who represent the best fit in terms of the borrower's financial situation and interest-rate needs. A mortgage broker, a mortgage broker determines a loan-to-value ratio, and gathers all the required information regarding borrowers ideal loan type and forward them to the ideal lenders. The loan-to-value ratio is defined as a lending risk assessment ratio that financial institutions and other lenders examine before approving a mortgage. They also track down the unnecessary fees tacked onto closing costs by lenders when issuing a mortgage, this is called garbage fees. There are also a type of loan called the liar loan, these involve the category of mortgages that refers to low-documentation or no-documentation mortgages, this can be acronym to "no job, no income and no assets" type of borrowers.

4 0
3 years ago
A company's December 31 work sheet for the current period appears below. Based on the information provided, what is net income f
lbvjy [14]

Answer:

Net income for the current period is $2,350.

Explanation:

Calculation of Net Income for the Current Period.

                                                                    $               $

Fees earned                                                             7,250

Less Expenses :

Rent expense                                           1,300

Salaries expense                                     2,300

Utilities expense                                         345

Insurance expense                                    650

Supplies expense                                        115

Depreciation expense—equipment          190   (4,900)

Net Income / (Loss)                                              2,350

3 0
2 years ago
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