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Virty [35]
3 years ago
14

Which of the following best describes the "invisible hand" concept? Group of answer choices Ample regulation of business by the

government will maximize the public's best interests. The market system works best when resources are free to move from one use to another. The problem of scarcity can best be overcome in a system of mixed capitalism. Self-interest in a market system will automatically promote the public interest as well
Business
1 answer:
Nostrana [21]3 years ago
4 0

Answer:

Self-interest in a market system will automatically promote the public interest as well.

Explanation:

An economy is a function of how money, means of production and resources (raw materials) are carefully used to facilitate the demands and supply of goods and services to meet the unending needs or requirements of the consumers.

Hence, a region's or country's economy is largely dependent on how resources are being allocated and utilized, how many goods and services are to be produced, what should be produced, for whom they are to be produced for and how much money are to be spent by the consumers to acquire these goods and services.

A free-enterprise system also referred to as capitalism or free market can be defined as a type of economy in which prices, products and services are being determined by the market rather than the government. Thus, a free-enterprise system is devoid (free) of government regulations, interference or control because the market (enterprises) are the ones who are saddled with the responsibility of determining the market forces.

Simply stated, a free-enterprise system is a type of economy that is completely driven by demand and supply of goods and services.

The "invisible hand" concept asserts that the self-interest by producers and suppliers of resources in a market system will automatically promote the public interest as well.

This ultimately implies that, public and private interest will always coincide assuming there exist competition in a free market system.

In conclusion, the invincible hand concept is a metaphorical description of the unforeseen forces that typically moves a free market system or economy.

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Molly is considering a project with cash inflows of $811, $924, $638, and $510 over the next four years, respectively. The relev
kati45 [8]

Answer:

A. -$425.91

Explanation:

Given that

Start up cost = 2700

Cash inflow 1 = 811

Cash inflow 2 = 924

Cash inflow 3 = 638

Cash inflow 4 = 510

Rate = 11.2% or 0.112

Recall that

NPV = E(CF/1 + i]^n) - initial investment or start up cost

Where

E = summation

CF = Cash flow

i = discount rate

n = years

Thus

NPV = -$2,700 + $811 / 1 + 0.112 + $924 / 1 + 0.112^2 + $638 / 1 + 0.112^3 + $510 / 1 + 0.112^4

NPV = -$425.91

Therefore, NPV = -$425.91

5 0
3 years ago
You should always read the fine print before signing a contract.
Bess [88]
I would say yes, because a person would want to know fully what they are getting into.  
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3 years ago
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If you cross the _____, you will either pass into the next day or the previous day, depending on whether you are moving east or
IrinaK [193]
Equator great circle route
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Before you started applying for college, a job recruiter offered you a full-time cashier position at a department store, earning
blondinia [14]

Answer:

Option D (You value..........$56,000) is the right response.

Explanation:

  • The overall expenditure of taking part throughout the school for the very first year would be the amount of such loss of university income as well as extra cash.
  • Whenever you anticipate receiving stronger employment wages from university education, therefore during the 1st year that you estimate upwards of expenditure of $53,000 for higher learning.

Other options aren't linked to the specific circumstance. Thus, the response seems to be the right one.

8 0
2 years ago
Brick Company produces bricks in two processing departments—Molding and Firing. Information relating to the company’s operations
Dominik [7]

Answer:

a. Raw materials used in production: Molding Department, $29,700; and Firing Department, $5,100.

General Journal ----------------------------------------- Debit (Db) -------- Credit (Cr)

Molding Department (Work in Process) -----------------_-------------- $29,700

Firing Department (Work in Process) ------------_-----_----_-------- $5,100

Raw Materials ----------- $34,800 (Cr)

b. Direct labor costs incurred: Molding Department, $19,000; and Firing Department, $4,200.

General Journal ----------------------------------------- Debit (Db) -------- Credit (Cr)

Molding Department (Work in Process) -------------------------------- $19,000

Firing Department (Work in Process) ------------------------------------ $4,200

Wages Payable ----------- $23,200 (Cr)

c. Manufacturing overhead was applied: Molding Department, $24,100; and Firing Department, $39,200.

General Journal ----------------------------------------- Debit (Db) -------- Credit (Cr)

Molding Department (Work in Process) ---------------------------- $24,100

Firing Department (Work in Process) ------------------------------ $39,200

Manufacturing Overhead ----------- $63,300 (Cr)

d. Unfired, molded bricks were transferred from the Molding Department to the Firing Department. According to the company’s process costing system, the cost of the unfired, molded bricks was $66,200.

General Journal ----------------------------------------- Debit (Db) -------- Credit (Cr)

Molding Department (Work in Process) -------- $66,200 (Db)

Firing Department (Work in Process) --------- $66,200 (Cr)

e. Finished bricks were transferred from the Firing Department to the finished goods warehouse. According to the company’s process costing system, the cost of the finished bricks was $107,600.

General Journal ----------------------------------------- Debit (Db) -------- Credit (Cr)

Finished Goods (Work in Process) ---------------- $107,600 (Db)

Firing Department (Work in Process) -------------- $107,600 (Cr)

f. Finished bricks were sold to customers. According to the company’s process costing system, the cost of the finished bricks sold was $103,600.

General Journal ----------------------------------------- Debit (Db) -------- Credit (Cr)

Cost of Units Sold -------- $103,600 (Db)

Finished Goods ---------- $103,600 (Cr)

6 0
3 years ago
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