1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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.

You might be interested in
It is important to use real rather than nominal gdp figures when making comparisons of output across time periods because the re
melamori03 [73]

Answer: TRUE

Explanation: Gross Domestic Product ( GDP) can be described as the market value of all goods and services produced in a country within a particular time period which is usually a year.

The equation for finding GDP is given as -

GDP = Consumption + Investment + Government Spending + ( Exports - Imports)

Nominal GDP can be described as the market value of all goods and services produced in a country within a particular time period using current market prices.

Real GDP can be described as the market value of all goods and services produced in a country within a particular time period using base year prices. Using base year prices to calculate real GDP adjusts for inflation.

4 0
3 years ago
An outside supplier offers to provide Epsilon with all the units it needs at $63.05 per unit. If Epsilon buys from the supplier,
ICE Princess25 [194]

Answer:

Make since the relevant cost to make it is $59.05

Explanation:

Calculation to determine what Epsilon should choose to:

Relevant costs to make = 8.20 + 24.20 + [41*(100%-35%)]

Relevant costs to make = 8.20 + 24.20 + (41*65%)

Relevant costs to make = 8.20 + 24.20 + 26.65

Relevant costs to make =$59.05

Therefore Epsilon should choose to: MAKE SINCE THE RELEVANT COST TO MAKE IT IS $59.05

8 0
3 years ago
A court ruling against the wrongful dismissal of employees is a development in the _____ component of the general
monitta
<span>A court ruling against the wrongful dismissal of employees is a development in the political or legal component of the general. Wrongful dismissal or termination of contract of employment without proper process violates the law of contracts. When this happens, the court takes the employee's rights into consideration in filing damages.</span>
3 0
3 years ago
Balance sheet and income statement data indicate the following:
Law Incorporation [45]

Answer:

The correct option is d. 5.5.

Explanation:

Note: This question is not properly arranged. It is therefore rearranged before answering the question as follows:

Balance sheet and income statement data indicate the following:

Bonds payable, 10% (due in two years)                              $842,000

Preferred 5% stock, $100 par (no change during year)       220,000

Common stock, $50 par (no change during year)             1,672,000

Income before income tax for year                                       376,000

Income tax for year                                                                  89,000

Common dividends paid                                                         83,600

Preferred dividends paid                                                          11,000

Based on the data presented, what is the times interest earned ratio (rounded to one decimal place)?

Oa. 7.9

Ob. 4.5

Oc. 3.5

Od. 5.5

The explanation of the answer is now given as follows:

The times interest earned ratio can be calculated using the following formula:

Times interest earned ratio = EBIT / Interest expenses ................ (1)

Where;

Interest expenses = Bonds payable * 10% = $842,000 * 10% = $84,200

EBIT = Earnings before interest and taxes = Income before income tax for year + Interest expenses = $376,000 + $84,200 = $460,200

Substituting the values into equation (1), we have:

Times interest earned ratio = $460,200 / $84,200 = 5.46555819477435

Rounded to one decimal place, we have:

Times interest earned ratio = 5.5

Therefore, the correct option is d. 5.5.

4 0
3 years ago
A business practice associated with globalization involves business moving manufacturing and service centers to countries where
baherus [9]

Answer:Multi national Trading or Corporation

Explanation:This is situation where business operations are moved to other nations with cheap labour and raw materials.The importance of this practice is to minimize their cost of operation and maxizmize profit.

4 0
3 years ago
Read 2 more answers
Other questions:
  • A resource-based strategy:
    12·1 answer
  • The blackwell group is unable to obtain financing for any new projects under any circumstances. which term best applies to this
    9·1 answer
  • Assume that ExxonMobil uses a standard cost system for each of its refineries. For the Houston refinery, the monthly fixed overh
    5·1 answer
  • A company purchases equipment for $32,000 cash. This transaction should be shown on the statement of cash flows under:________
    12·1 answer
  • Two economists from Ohio University estimated that the demand curve for kerosene in Indonesia was such that a 10 percent increas
    7·1 answer
  • When only certain EOC team members or organizations are activated to monitor a credible threat, which Activation Level has been
    5·1 answer
  • In shopping for a new laptop computer for her master's degree program, Joelle has narrowed the alternatives to four brands. She
    9·1 answer
  • DS Unlimited has the following transactions during August.
    14·1 answer
  • MegaCable and Acme are competing for an exclusive contract to provide the city of Dustin with cable television for the next year
    11·1 answer
  • Refer to the short-run data in the accompanying graph. The profit-maximizing output for this firm is...
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!