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STALIN [3.7K]
2 years ago
7

In a market economy, decisions about which goods are produced are based

Business
1 answer:
STatiana [176]2 years ago
4 0

Answer:

B. what businesses believe will generate the most profits.

Explanation:

A market economy is one where the factors of production are owned by the private sector. Production and distribution of products and services are in the hands of private individuals and firms. The government's role is mostly regulation and the provision of public goods.

In the market economy, the private sector engages in business to make profits. They risk their resources in producing goods and services that can increase their wealth. Only the products that are likely to generate profits are produced.

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Humes Corporation makes a range of products. The company's predetermined overhead rate is $20 per direct labor-hour, which was c
hichkok12 [17]

Answer:

$7,400

Explanation:

The impact on the company's overall profit is shown below:-

<u>Particulars                Amount </u>

Sales                          $50,320  (740 × $68)

Less : Variable cost

Direct material          $30,340  (740 × $41)

Direct Labor               $10,360  (740 × $14)

Variable Manufacturing

overhead

($51,000 ÷ 17,000)        $2,220 (740 × $3)

= 3

company's overall profit $7,400

To reach the company's overall profit we simply deduct the Direct material, direct labor and variable manufacturing overhead from sales.

3 0
3 years ago
Consider Paul's decision to go to college. If he goes to college, he will spend $90,000 on tuition, $15,000 on room and board, a
Katen [24]

Answer:

B. $123,000

Explanation:

The computation of the Paul's cost of going to college is presented below:

= Tuition fees + room and board charges + books expenses + earning as a construction job - room and board charges

= $90,000 + $15,000 + $7,000 + $22,000 - $11,000

= $123,000

We simply deduct the room and board charges while working as a construction job and the other items would be added

4 0
3 years ago
During February, $75,150 was paid to creditors on account, and purchases on account were $96,190. Assuming the February 28 balan
lidiya [134]

Answer:

$45,000

Explanation:

Given the above information, the account balance on February 1 is computed below;

Balance of account payable Feb 28 + Cash paid to creditors in February - Purchases on account

= $59,900 + $186,500 - $201,400

= $45,000

Therefore, the account balance on February 1 is $45,000

5 0
2 years ago
Roseanna asked Henry, one of her team members, to purposefully think of and voice criticisms as the group discussed a popular id
enot [183]

Answer:

Devil's advocacy.

Explanation:

Devil's advocacy is defined as a person who pretends in a discussion. He/she pretends to be against an idea or plan many people support so as to make people discuss it in more detail. Here Rosana uses devil's advocacy on Henry by telling him to criticize the group's discussion.

8 0
3 years ago
Puffy's Pastries generates five cents of net income for every $1 in equity. Thus, Puffy's has _______ of 5 percent.
kap26 [50]

Answer: return on equity

Explanation:

The return on equity is simply a measure of how profitable a business will be when it's being compared to its equity. Return on equity is the net income divided by the equity. It can also be gotten when liabilities is deducted from assets.

In the above analysis, return on equity equals 5% because 100 cents make 1 dollar. Therefore, 5/100 × 100 gives 5%.

5 0
2 years ago
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