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elena55 [62]
2 years ago
15

Explain how the basic economic problems are solved under capitalism?​

Business
1 answer:
Brums [2.3K]2 years ago
7 0

Answer:

Under capitalistic economy, allocation of various resources takes place with the help of market mechanism. Price of various goods and services including the price of factors of production are determined with help of the forces of demand and supply. Free price mechanism helps producers to decide what to produce.

The goods which are more in demand and on which consumers can afford to spend more, are produced in larger quantity than those goods or services which have lower demand. The price of various factors of production including technology helps to decide production techniques or methods of production. Rational producer intends to use those factors or techniques which has relatively lower price in the market.

Factor earnings received by the employers of factors of production decides spending capacity of the people. This helps producers to identify the consumers for whom goods could be produced in larger or smaller quantities. Price mechanism works well only if competition exists and natural flow of demand and supply of goods is not disturbed artificially.

Explanation:

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Liabilities are? a.none of these choices are correct. b.the rights of customers. c.the rights of owners. d.the rights of credito
Anna35 [415]

Liabilities are the <u>rights of creditors.</u>

<h3>What is a liability?</h3>

A liability is a debt that a person or business has, typically in the form of money. Through the transmission of economic benefits like money, products, or services, liabilities are eventually satisfied.

Liabilities are items that are listed on the balance sheet's right side and consist of debts including loans, accounts payable, mortgages, deferred income, bonds, warranties, and accumulated expenses.

Assets and liabilities can be compared. Assets are items you own or owe money to; liabilities are things you owe money to or have borrowed.

In general, a liability is an obligation that exists between two parties but hasn't been fulfilled or paid for. A financial liability is an obligation in the world of accounting, but it is more specifically characterized by previous business transactions, events, sales, exchanges of goods or services, or anything else that will generate income in the future. Non-current liabilities are typically viewed as long-term obligations because they are anticipated to last more than a year (12 months or greater).

Thus, Liabilities are the<u> rights of creditors.</u>

For more information on <u>creditors</u>, refer to the given link:

brainly.com/question/18484315

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<u></u>

5 0
1 year ago
Elijah and anastasia are husband and wife who have five married children and nine minor grandchildren. for 2015, what is the max
s344n2d4d5 [400]
To get the answer, you need to calculate this:
19 donees (5 married children + 5 spouses + 9 grandchildren) ×$14,000 (annual exclusion for 2016) × 2 donors (Elijah and Anastasia) = 19(14000) (2)
=19(28000)
=532,000
Through this, you will get the answer of $532,000
4 0
3 years ago
Read 2 more answers
Nolan is applying for a promotion within his company. the ________ state that the qualified candidate must have a four-year coll
balandron [24]

The correct answer is job specifications. Job specifications is being defined as a statement in regards of the essential components of the job class by which it includes the summary of the work that are to be performed, responsibilities, minimum qualifications, and as well as the primary duties.

3 0
3 years ago
An important feature of a job order cost system is that each job:_______.
sammy [17]

Answer:

D

Explanation:

it has it's own distinguishing characteristics ....Form used to record the cost chargeable to a specific job and to determine the total and unit cost of the completed job

6 0
3 years ago
Exercise 15-14 Presented below are two independent situations. 1. Flinthills Car Rental leased a car to Jayhawk Company for one
IrinaVladis [17]

Answer:

Part 1

Dr Lease rentals $300........ Expense

Cr     Cash Account $300

Part 2

Dr Leased Equipment $63,536

Cr Finance Lease Liability  $63,536

Explanation:

Part 1. Under the operating leases the lessee pays the monthly rentals which must be accounted for as an expense and the double entry is as under:

Dr Lease rentals $300........ Expense

Cr     Cash Account $300

Part 2. Under the finance lease agreement, the lessee pays the value of the asset and the interest as well. So after the date of agreement when the asset is handed over the journal entry would be recording of the equipment received, which would written at its fair value or present value of the payments made. The journal entry would be:

Dr Leased Equipment $63,536

Cr Finance Lease Liability  $63,536

8 0
3 years ago
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