Answer: $85,000
Explanation:
Drawings are debited/deducted from the Equity account to reflect that the owner's holdings in the business has reduced.
Profit is added to the Equity account in the form of Retained Earnings.
The closing Balance on Equity is;
Closing Balance = Opening Balance + Profit - Drawings
Profit = Closing Balance - Opening Balance + Drawings
Profit = 175,000 - 120,000 + 30,000
Profit = $85,000
<span>This is an example of, "medicalization and the social construction of health and illness".
</span><span>Medicalization is examined from a sociologic point of view regarding the part and energy of experts, patients, and enterprises, and furthermore for its suggestions for ordinary individuals whose self-character and life choices may rely upon the overall ideas of health and illness.
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Answer:
Leads the economy to the wrong mix of output
Explanation:
Market failure is the when there is an inefficient distribution of goods and services in the free market.
One of the types of market failure is externality
Externality is when the production or consumption activities of economic agents have effects on people not involved in the economic activity. Externality can either be positive or negative
A good has positive externality if the benefits to third parties not involved in production is greater than the cost. an example of an activity that generates positive externality is research and development. Due to the high cost of R & D, they are usually under-produced. Government can encourage the production of activities that generate positive externality by granting subsidies.
A good has negative externality if the costs to third parties not involved in production is greater than the benefits. an example of an activity that generates negative externality is pollution. Pollution can be generated at little or no cost, so they are usually overproduced. Government can discourage the production of activities that generate negative externality by taxation
<u>Answer:</u> Option 1 and Option 5
<u>Explanation:</u>
In mixed economies under the government regulation most of the production is done by private ownership. There is very little government intervention. The main aim of the government intervention is to make sure that the private business activities comply with the law of the country.
Another result of government regulation is to control the externalities created by these business structures. Government ensures there is no externality which affects the market as well as the people. Due to these regulations there is no advantages for producer or government. Also the markets cannot be controlled with these regulations in mixed market economy.
