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3 years ago

What were some potential negatives smith explained could plague the free-market system?

1 answer:

3 0

According to Smith the functioning of the free market requires an ethical position, for Smith justice has a fundamental function. The market mechanism does not require direct contact between consumers and producers. The relationship is usually indirect and is made through the prices and sales that occur in the market. If you want something and you have the money to buy it, it is done, and if there are enough people to do the same, the sales of that product will skyrocket and the rest of the companies will start producing more of that good and will employ more means.

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How often should a financial checkup be completed

ryzh [129]

Answer:

a financial checkup should be completed annually.

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2 years ago

Zach is very concerned about how others view him. he spends a great deal of time strategically choosing clothing and other produ

allochka39001 [22]

Impression management is the process he is involving in.

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3 years ago

The expected average rate of return for a proposed investment of $650,000 in a fixed asset, with a useful life of 4 years, strai

nexus9112 [7]

The expected average rate of return in the fixed asset above is 36.92%. The rate of return is the income or loss of a proposed investment in a specified amount of time. In this case, a company wants to buy a 4-year life fixed asset which can increase the company's income by $240,000. We can calculate the rate of return by dividing the net income from the investment with the proposed investment to obtain the portion of return received from the investment. Formula: (Net Income From The Investment/Proposed Investment) x 100%.

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3 years ago

In july, lane co. Sells merchandise to avery co. On account. In august, avery pays the balance in full. The entry that lane will

vovangra [49]

The entry that lane will make to record the receipt of cash will include a credit to the Accounts Receivable account.

<h3>What is Accounts Receivable?</h3>

Accounts Receivable is the amount, which a company will receive from its customers who have purchased its goods & services on credit.

It refers to the money that the customer owe to the company for the goods or services that they have already received but not yet paid for.

For example- Goods purchase on credit by ABC, the amount gets added to the accounts receivable.

Learn more about the account receivable here:-

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6 0

1 year ago

Hubert lives in San Francisco and runs a business that sells boats. In an average year, he receives $842,000 from selling boats.

aev [14]

Answer:

Explicit costs are normal costs of operating a business.

Implicit costs are opportunity costs meaning that they are the benefits foregone by engaging in a certain course of action.

The wholesale cost for the pianos that Hubert pays the manufacturer ⇒ EXPLICIT COST.

The salary Hubert could earn if he worked as an accountant ⇒ IMPLICIT COST.

The wages and utility bills that Hubert pays ⇒ EXPLICIT COST

The rental income Hubert could receive if he chose to rent out his showroom. ⇒ IMPLICIT COSTS

Accounting Profit = Revenue - Explicit costs

= 842,000 - 452,000 - 301,000

= $89,000

Economic Profit = Revenue - Explicit costs - Implicit costs

= 842,000 - 452,000 - 301,000 - 38,000 - 48,000

= $3,000

If Hubert's goal is to maximize his economic profit, he should stay in the piano business because the economic profit he would earn as an accountant would be -$3,000.

Economic profit as accountant = Salary + rental income - accounting profit from piano

= 48,000 + 38,000 - 89,000

= -$3,000

6 0

2 years ago