A competitive market refers to a market where there is no monopoly of producers of goods and services, therefore, competition is high because they all have mission to satisfy the wants of a large consumers.
The characteristics of a competitive market are:
- Homogeneity of product: The product are made by different producers and encourages competition.
- There are existence of many buyers and sellers in the market.
- There is an access to derive perfect information on price of a product at any outlet in the market.
- There are no charges for transaction costs in a competitive market
- No barriers to entry into or exit.
In conclusion, there is no producers which can affect the market price through its supplying rate because there are excess supply of similar product in the market.
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Answer: The Nominal Interest rate, which is how fast the dollar value of savings grows
Explanation:
Banks advertise the Nominal Interest rate. This is the rate that measures purely, how much return is received or paid if one lends out money or borrows money respectively.
It is therefore the value at which savings grow.
It is not adjusted for inflation yet but when adjusted is called the REAL INTEREST RATE.
It is important to note that when Banks advertise the Nominal rate, it is not yet adjusted for fees or the compounding of interest.
Answer:
The adjustment at month-end is :
Supplies Expense $400 (debit)
Supplies $400 (credit)
Explanation:
The Supplies Account is an asset Account that decreases as the supplies are used in the business.
The use of supplies prompts the recognition of an <em>expense</em> and de-recognition of an <em>asset</em> as follows :
<em>Supplies Expense $400 (debit)</em>
<em>Supplies $400 (credit)</em>
When filing your tax return, the maximum amount you can deduct for a capital loss is $3,000(for individuals and married filing jointly) or $1,500 (for married filing separately).
<h3>What is a tax return?</h3>
A tax return is such or more forms submitted to a taxing body that include earnings, outlays, and other crucial tax data.
Tax returns give taxpayers the option to determine their tax liability, plan out their tax payments, or ask for refunds for any taxes they have paid in excess of what is required.
Some characteristics is of tax returns are-
- For just an individual or corporation having reportable income, such as wages, interests, dividends, capital appreciation, or other earnings, tax returns must typically be filed annually.
- The tax return is just a document submitted to a taxing authority that lists earnings, outlays, and other pertinent financial data.
- Taxpayers compute their tax liabilities, set up tax payments, and request refunds for overpaid taxes on their tax returns.
- Tax returns must typically be filed yearly.
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Answer:
The answer is below.
Explanation:
The z score is a used in statistics to determine by how many standard deviations the raw score is above or below the mean. The z score is given by:
a) Given that n = 100, μ = 2000, σ = 18
For x < 1995 millimeters:
From the normal distribution table, P(x < 1995) = P(z < -2.78) = 0.0027
b) P(z > z*) = 10% = 0.1
P(z < z*) = 1 - 0.1 = 0.9
z* = 1.28
From the normal distribution table, P(z < z
