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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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The December 31, 2015, balance sheet of Schism, Inc., showed long-term debt of $1,450,000, and the December 31, 2016, balance sh

baherus [9]

Answer:

The firm's cash flow to creditors during 2016 was -$131,000.

Explanation:

Cash flow to creditors

= Interest expense - (Ending LT Debt - Beginning LT Debt)

= $99,000 - ($1,680,000 - $1,450,000)

= -$131,000

Therefore, The firm's cash flow to creditors during 2016 was -$131,000.

7 0

2 years ago

Commercial sports are most likely to grow and prosper in societies with

fomenos

Answer: Capital, Good Market Economy and Massive Urban Centres

Explanation:

Commercial sports are most likely to grow and prosper in societies with enough capital because for every buying and selling process, capital must be involved to set up marketable products. So, a commercial sport would require capital to have nice viewing areas, infrastructure and manpower.

Also, sports is incomplete without a massive urban center. A society with massive urban centres has a profitable potential for commercializing its sporting activities.

Lastly, a society with a good market economy that has its investment and production decisions dependent on supply and demand is a good spot for commercial sports.

6 0

2 years ago

Read 2 more answers

Vinny asks if he should force Spud to finish the job. Could Oscar get a court order requiring Spud to actually build the display

adell [148]

No, specific performance is not allowed in this case because money damages are available.
In case that a party failed to fulfill the condition that signed on the contract, the court could give 1 of 2 form of punishments.
The first is to forcibly make that party perform the condition (specific performance), the other is to pay back the loss that incurred because of that party fail to fulfill the condition (money damages)

8 0

3 years ago

Kimble Company applies overhead on the basis of machine hours. Given the following data, compute overhead applied and the under-

olga55 [171]

Answer:

Compute overhead applied and the under- or overapplication of overhead for the period

Budgeted Rate = $1,600,000/ 400,000 machine hours

= $ 4 per Machine Hour

Overheads Applied = 390,000 × $ 4 per Machine Hour

= 1,560,000

Actual Overheads = 1,575,000

Less Applied Overheads = 1560,000

Under- Applied = 15,000

Explanation:

Overheads are Applied as follows:

Actual Activity for the period × Budgeted Overhead Rate

Budgeted Rate is determined as follows:

Budgeted Total Overheads/Budgeted Activity

Under- or Overapplication of overhead is determined as follows:

Actual Overheads - Applied Overheads

Under Application is therefore : Actual Overheads > Applied Overheads

Over Application is therefore : Actual Overheads < Applied Overheads

4 0

2 years ago

Scenario: Farm Country and Industry Country are two neighboring countries. Both countries produce only one good: good X. Produ

PIT_PIT [208]

Answer:

D. the same amount of capital and labor.

Explanation:

Based on the scenario being described within the question it can be said that the aggregate production functions will shift upward when the same amount of capital and labor. This is because the aggregate production function describes how real GDP within an economy depends on available inputs, such as the labor that is being put into production, and that labor needs capital.

7 0

2 years ago