Answer: c.
In a competitive market, there are many producers competing to provide consumers the products they needed and thus they cannot dictate prices.
If a surplus occurs, there is an excess of quantity supplied and since producers won't be able to sell all their products, they tend or are forced to lower their price.
The reverse happens when there is a shortage. When there is less supply in the market, price increases.
Surplus and shortage in a competitive market, therefore, will cause shifts in the demand and supply curves that tend to eliminate the surplus or shortage.
Answer and Explanation:
The classification is as follows
1. The bob is employed as he is an old professor
2. Cho is unemployed as she is laid off and she is trying to find any kind of job
3. Eric should not be counted in a labor force as he became so discouraged due to which he gave up for the job searching
4. Lucia is unemployed as she lost her job
5. Eric should not be counted in a labor force as he spent most of his time in gardening and reading
6. Ginny should not be counted in an adult population as she is only 11 years old
Answer:
See Explanation Below
Explanation:
a. When should Ski West recognize revenue from the sale of its season passes?
Revenue from the sales of Ski West season should be recognised when it passes each month.
b. Prepare the appropriate journal entries that Ski West would record on November 6 and December 31
November 6, 2021
Cash: ------------------------- $450
Unearned Revenue: --------------------------------- $450
December 31, 2021
Unearned Revenue:--------- $90
Revenue: ---------------------------------------------------$90
c. What will be included in the Ski West 2021 income statement and balance sheet related to the sale of the season pass to Jake Lawson?
2021 Income Revenue
Revenue: ------------------------ $90
Unearned Revenue: --------------------------------$360.
Unearned Revenue is calculated by $450 - $90 = $360
Answer:
(E) boycott
Explanation:
Boycott refers to the avoidance of goods and products from an entity in an act of protest against an action by the entity. The entity could be a state, government, company, or any other body. The aim is usually to prevent economic benefits from flowing to the entity thereby forcing it to reverse the action being protested against.
Expropriation refers to the takeover of a property by a government usually for public use. Quota refers to limiting the quantity of goods to be imported from a foreign country to a given quantity. Tariff refers to a charge on imports from other countries. Exchange control refers to measures aimed at stabilizing the value of a nation's currency.
By selling the asset for a profit