Answer:
1-The four characteristics of the price system are that it is neutral, market driven, flexible, and efficient. It is neutral because prices do not favor the producer or the consumer because the they both make choices that determine the equilibrium price.
2-Why is the price system an efficient allocator of economic resources? Prices are neutral, which means they are equally fair to both consumers and producers. They are flexible which means they can adapt to changing economic conditions. Prices are familiar which means that everyone understands how they work.
3-how do prices serve as signals and incentives to producers to leave a particular market? it showed that when a strong competitor offers similar products for lower prices other producers must also lower their prices. Less efficient companies were driven from the market.
4-demonstrates the effects of competitive pricing because it shows how the company strategically lured customers away from rival producers while still making the highest profit.
Explanation:
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Answer:Sub-Saharan Africa and the middle East-North Africa region.
Explanation: Over the past two decades their have been lot of social unrest in the middle East, Sub-Saharan Africa and North African chiefly due to activities of Religious extremists and rebel groups, For instance, in Nigeria (which is in Africa) there have been activities of Boko haram terrorist group which have displaced a lot of people living in the affected states and causing death and injury of many. Also, Syria suffered unrest due to activities of rebellious groups. All these activities and more puts these region at a very high risk of social unrest .
Answer:
True
Explanation:
Using your resources wisely means using the smallest amount of resources to produce the greatest amount of output. In terms of the economic efficiency , when all goods and factors of production in an economy are distributed or allocated to their most valuable uses and waste is eliminated or minimized. Economic efficiency is when every scarce resource in an economy is used and distributed among producers and consumers in a way that produces the most economic output and benefit to consumers. Economic efficiency can involve efficient production decisions within firms and industries, efficient consumption decisions by individual consumers, and efficient distribution of consumer and producer goods across individual consumers and firms. Effective management is described a use staff, time and resources wisely to minimize unnecessary cost to the organization.
Answer:
False
Explanation:
The revenue principle and the matching principles are two principles that help in the determination of the period in which expenses and revenues are recognized. In line with the principle, as long as any revenue is realizable, then such expenses or revenues are recognized. As long as services are rendered or goods transferred, regardless of the time in which the cash is received, revenue is recognized. However, accrued revenue is that which is recognized before receiving cash, while deferred revenue is the revenue recorded or realized after receiving cash.
Critics post ratings of products and service and contribute to an edited article in wikis.
The product can be a service or an item. It can be physical or in virtual or cyber form. Each one product is made at a cost and each is sold at a price.
