This is a trick question, none of these answers are correct.
1. Society only relies on prices in a market economy, In a planned economy, the government sets prices usually,
2. Self-interests of households are reflected in a market economy because consumers can make their own decisions.
3. Government plays a larger role in a planned economy.
Answer:
See answer below
Explanation:
In the books of Landen Consulting, the cash payment will be recorded as follows.
Debit Cash Account $400
Credit Account Receivables $400 (this would have been Revenue if the payment was made in the same month).
Since both accounts affected are assets account, the effect of the transaction on the accounting equation will be as follows.
Equity + Liabilities = Assets
Equity + Liabilities = Assets + Cash ($400) - Account Receivables ($400)
= Equity + Liabilities = Assets.
Answer: False
Explanation:
According to a report by CNBC in 2017, floor trading accounts for about 10% of market transactions in stock exchanges in recent times.
Since the Advent of Electronic trading, most traders have switched to using computers and software which manage the trading for them to make it more efficient.
Answer:
B.
Explanation:
Fixed costs are those costs which are not output dependent. Are fixed till certain level of output. The fixed cost per unit changes with output.
Variable costs are those costs which are output dependent. There is a positive correlation between the production output and the variable cost. The variable cost per unit remains constant.
With the classification of cost into fixed and variable, the manager can count the break even point, in amount terms as well as in the number of unit terms.
The ratio between the variable cost and fixed cost shows how much adjustable is the organization.
Answer:
The correct answer is C. classical economist.
Explanation:
Classical economics reoriented economic thinking away from the approach that was based on the preferences of rulers or social classes. The classics emphasized the benefits of free trade and developed an organized analysis of the value of goods and services as a reflection of their cost of production.
Classical economists opposed government intervention in the market through price controls, fees, regulations or any other mechanism that altered its normal functioning.
