All categories

2 years ago

What kind of economy uses a free-enterprise system?

Business

1 answer:

alekssr [168]2 years ago

5 0

Answer:

The U.S. economy is a free enterprise system.

Explanation:

That means that individuals — and not the government — own most of our country's resources.

You might be interested in

Consider two scenarios for a nation's economic growth. Scenario A has real GDP growing at an average annual rate of 3.5 percent;

WARRIOR [948]

Answer:

20 years (scenario A) and 16 years (scenario B)

Explanation:

The real GDP will double in "n" number of years, with "n" estimated by interpolation using the formula below.

$current GDP * (1+Growth Rate)^{n} = 2 * current GDP$

In the solutions below, we assumed current GDP to be 1, and as a result, the GDP will double to 2.

Scenario A

$1 * (1+0.35)^{n} =2$

When you substitute 20 for "n" in the left hand side (LHS) of the equation, you will arrive at 1.99 which is approximately equal to 2. Any number below 20 will result in a number less than 2.

Thus, with an average annual real GDP growth rate of 3.5%, real GDP will double in about 20 years.

Scenario B

$1 * (1+0.45)^{n} =2$

When you substitute 16 for "n" in the left hand side (LHS) of the equation, you will arrive at 2.02 which is approximately equal to 2. Any number below 16 will result in a number less than 2.

Thus, with an average annual real GDP growth rate of 4.5%, real GDP will double in about 16 years.

6 0

2 years ago

Furnco sells secretarial chairs. Annual demand is normally distributed, with mean of 1,040 chairs and standard deviation of 50.9

kaheart [24]

Answer:

Reorder point is 40

Explanation:

Reorder point is the level of inventory which trigger the purchase of new inventory.

The formula for Reorder point is

Annual demand * Leadtime + Safety Stock

Reorder Point = 1040 / 365 * 14 days + 0

= 40.

The lost sales cost is $50 in goodwill, Furnco should keep a safety stock of at least 30 chairs in order to meet demand level.

7 0

2 years ago

Qs 20-13 manufacturing: direct materials budget lo p1 miami solar manufactures solar panels for industrial use. the company budg

Helen [10]

Calculation of Direct Material Budget for the month of July:

Budgeted production (Units) for July 5,000

Material required per unit (pounds) 3

Material requirement for July (pounds) = (5000 units * 3 pounds) 15,000

Add: Ending material inventory (5300 units * 3 pounds* 30%) 4,770

Less: Beginning material inventory 4,500

Direct Material Purchase (Pounds) (15000+4770-4500) = 15,270

Cost per pound of Metrial ($) $6.00

Direct Material Purchase ($) (15270 pounds * $6) = $91,620

7 0

3 years ago

In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following ord

Dahasolnce [82]

Answer:

Find the detailed answer below

Explanation:

January 1 300 units at $5 $1,500

January 8 500 units at $9 $4,500

January 29 910 units at $10 $9,100

1,110 units are available at the end of the month. That means 600 units were sold

A. Under FIFO

1. Cost of goods available for sale:

$1,500 + $4,500 + $9,100 = $15,100

2. Cost of goods sold

300 units at $5 $1,500

300 units at $9 $2,700

Total $4,200

3. Ending inventory

200 units at $9 $1,800

910 units at $10 $9,100

Total $10,900

B. Under LIFO(Last in First Out)

1. Cost of goods available for sale:

$1,500 + $4,500 + $9,100 = $15,100

2. Cost of goods sold

600 units at $10 $6,000

Total $6,000

3. Ending inventory

310 units at $10 $3,100

500 units at $9 $4,500

300 units at $5 $1,500

Total $9,100

C. Weighted average cost flow assumption: Cost of goods available for sale / total units

1. Cost of goods available for sale:

$1,500 + $4,500 + $9,100 = $15,100

2. Cost of goods sold

$15,100 / 1,710 = $8.83

$8.83 x 600 = $5,298

3. Ending inventory

$8.83 x 1,110 = $9,801.3

Under perpetual Inventory System

Between January 9 and January 28. The prevailing price that will be used to sell the inventory will be the price at January 8($9)

1. Cost of goods available for sale:

$1,500 + $4,500 + $9,100 = $15,100

2. Cost of goods sold

600 units at $9 $5,400

Total $5,400

3. Ending inventory

1,110 units at $9 $9,990

Total $9,990

6 0

2 years ago

In the various fights between management and union members what did each side believe

stepan [7]

<span>The workers had believed that they deserved shorter work days and better pay. The management had believed that the workers did not have a right to strike. Cheap labor was available.

Thank you for posting your question here at brainly. I hope the answer will help you. Feel free to ask more questions.
</span>

5 0

2 years ago