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3 years ago

What’s the difference between a market economy and a command economy

1 answer:

3 0

The activity in a market economy is unplanned and determined by the supply and demand of goods and services. The main example of a market economy is capitalism. Whereas, a command economy is organised by a centralised government which owns most, of not all, businesses. The main example of a command economy is communism.

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John is an art dealer with special expertise in modern art. Rachel comes to John's gallery to purchase a modern art painting as

lubasha [3.4K]

Answer:

Puffery

Explanation:

Puffery refers to making hefty claims regarding product attributes and traits which represent a subjective and not objective view. Such claims are not backed by valid reasoning or valid evidences and facts.

In the given case, the art dealer claims his products being of high quality and appreciating over the period of next ten years. Such claims cannot be substantiated by any concrete evidence. As value cannot be ascertained in advance.

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3 years ago

choose a real or made-up example of a company, and describe at least three variable costs the company has. (1-3 sentences.

Solnce55 [7]

For a restaurant, some variable costs could be labor costs/ worker wages, raw product/ purchasing food to cook, and energy and fuel/ utilities.

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3 years ago

What is a trust established while the owner of the trust is still alive

Yuri [45]

Answer:

A trust created while a person is still alive is called a Living Trust. The Living Trust is created when one person, a Grantor, places property into the trust.

Explanation:

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3 years ago

Wizard Co. purchased two machines for $250,000 each on January 2, 2005. The machines were put into use immediately. Machine A ha

faltersainse [42]

Answer:

75,000

Explanation:

The straight-linedepreciation is calculate by dividing the acquisition value over the useful life

Machine A useful life is for 5 years

250,000 / 5 years = 50,000 per year

Machine B useful life is:

2 years in development project and then 8 years in a production division

total useful life for 10 years

250,000/ 10 years = 25,000

<u>Total development expense: </u>

machine A depreciation 50,000 + machine B depreciation 25,000 = 75,000

development expense 75,000

acc depreciation machine A 50,000

acc depreciation machine B 25,000

4 0

3 years ago

Suppose that a chicken farm uses a nearby stream to dispose of the wastes released by its chickens. These wastes flow downstream

NeTakaya

Answer:

d. Charities

Explanation:

From the question, we are informed about the Supposed chicken farm which uses a nearby stream to dispose of the wastes released by its chickens. These wastes flow downstream into a lake that has become thick with algae and polluted due to the minerals in the waste matter. The local office of a nonprofit environmental organization successfully lobbies state regulators to stop the farm's pollution. In this case, the types of private solutions to the externality of pollution that has occurred is charity. Private solutions to externalities can varies from charities, business mergers as well as moral codes, all working at self interest of the relevant parties. according to Coase theorem, at low transaction cost two parties can reach efficient outcome after bargaining when externality are present. Charity can be regarded as generosity as well as helpfulness towards those that are less privilege or that are needy and cannot raise their voice.

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2 years ago