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3 years ago

In a traditional economy, which group is most responsible for producing the goods people in society need?

Business

2 answers:

romanna [79]3 years ago

6 0

Answer:

B. Family members

Explanation:

A traditional economy is based upon the customs, beliefs, and history of the community. Age-old traditions and beliefs guide economic decisions of production and distribution. The traditional economy is motivated by the social well being of its members and not by profits.

The main economic activities under the traditional economy revolves are subsistence farming, fishing, and hunting. These activities are carried out in family settings. In other words, family members provide labor for economic activities.

WINSTONCH [101]3 years ago

4 0

The answer is Family Members for A P E X

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Match the economic scenario to the relevant characteristics. Increase in savings increase in unemployment more demand for funds

Elan Coil [88]

Answer:

Economic expansion

Increase in savings

The economy is expanding which means that people have access to higher wages. This will enable them to save more.

More demand for funds among borrowers

As the economy is expanding, people will borrow to consume more as well as to invest which will lead to a higher demand for borrowed funds.

Increase in price of products

With more people able to afford goods and services, prices will increase as there is now more demand for those goods.

Economic recession

Increase in unemployment

With the economy shrinking, companies will be making less profit and will have to layoff workers to reduce their costs.

Increase in government borrowing

In a recession, the Government will have to spend more to prop up the economy like the US Government did during this pandemic by providing stimulus packages. This spending is supported by borrowing.

3 0

3 years ago

Which of the following skills is necessary for a market researcher?

stira [4]

Answer:

i think the answer is Creativity

4 0

3 years ago

Which of these actions can businesses take to reduce income inequality?

VashaNatasha [74]

1. Increase the minimum wage. 2. Expand the Earned Income Tax. 3. Build assets for working families. 4. Invest in education. 5. Make the tax code more progressive. 6. End residential segregation

3 0

3 years ago

A company is considering the purchase of a new machine for $55,000. Management predicts that the machine can produce sales of $1

Ymorist [56]

Answer:

5.32 years

Explanation:

Particulars Amount

Sales $16,700

Less: Expenses $7,300

Profit before tax $9,400

Less: income tax $3,760

Net income $5,640

Add: Depreciation $4,700

Annual Cash flow $10,340

So, the payback period for the new machine = Total investment/Annual cash flow = $55,000 / $10,340 = 5.319148936170213 = 5.32 years

6 0

3 years ago

Assume the following amounts: Total fixed costs Selling price per unit Variable costs per unit If sales revenue per unit increa

sineoko [7]

Answer:

The correct option is c. 129,000.

Explanation:

Note: This question is not complete. The complete question is therefore provided before answering the question as follows:

Assume the following amounts:

Total fixed costs. $15,000

selling price per unit. $19

variable costs per unit. $12

if sales revenue per unit increases to $21 and 16,000 units are sold what is the operating income?

a 159,000

b. 336,000

c. 129,000

d. 144,000

The explanation to the answer is now provided as follows:

Since sales revenue per unit increases to $21, we use it as the selling price and proceed as follows:

Computation of Operating Income

Particular Amount ($)

Sales revenue (16,000 * $21) 336,000

Variable cost (16,000 * $12) (195,000)

Contribution 144,000

Fixed cost (15,000)

Operating income  129,000 

Therefore, the correct option is c. 129,000. That is, operatin income is $129,000.

5 0

4 years ago