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3 years ago

Which economic system best defines: Lowest amount of economic freedom?

Business

1 answer:

Dafna11 [192]3 years ago

6 0

Answer:

command economy

Explanation:

In a command economy, the government is the only determinant of what is to be produced, its quantity, and price. All the factors of production belong to the government. The government or the central authority creates a central plan that guides all country's economic activities and decisions.

The private sector is absent in a command economy. The government is the only employer. Citizens do not have the freedom to choose what to buy, but rather what is available.

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5. In a command economy, poor planning is likely to lead to (1 point)

aleksandr82 [10.1K]

5.)d.products shortages and waste

6.)b.other countries quickly bought the low-priced products

6 0

3 years ago

On August 1, Steffen Computers, Inc. purchased thirty computer chips on account from a company located in Taiwan for 520,000 Tai

Vsevolod [243]

Answer:

Explanation:

Foreign currency related Financial assets and financial liabilities are usually revalued with any difference as a result of the exchange rates posted as a gain or loss in the income statement.

On transaction date, cost of assets

= 520000 * $0.034

On payment date, the amount paid

= 520000 * $0.036

The amount paid is higher than the liability recorded before hence the difference is recognized as a loss on foreign exchange.

= 520000 * $0.036 - 520000 * $0.034

= $1040

4 0

3 years ago

The average fixed cost curve a. always declines with increased levels of output. b. always rises with increased levels of output

Zolol [24]

Answer: a. always declines with increased levels of output.

Explanation: the average fixed cost curve graphically illustrates or shows the relation between average fixed cost a firm incurs in the short-run production of a good or service, and the quantity produced. The average fixed cost curve always declines with increases in the level of output resulting in a negatively sloped curve. This is to say that the average fixed cost is relatively high at smaller quantities of output, which then declines as the level of production increases--the more output increases, the more average fixed cost declines. Why this occurs is that a given fixed cost is spread over an increasingly larger quantity of output and as such, firms can profitably charge a lower price with increased output.

7 0

3 years ago

Select the correct answers. Which product is the cheapest and requires the least planning from a buyer? A. specialty products B.

Aleks04 [339]

Answer:

the answer is D. convenience products

Explanation:

convenient products are much cheaper and consumers usually look for them by the brand, or sometimes, these products are homogenous in nature, so people would just go and buy it rather than comparing different products and prices.

4 0

3 years ago

Your younger sister, Linda, will start college in five years. She has just informed your parents that she wants to go to Hampton

Elden [556K]

Answer:

The answer $6,964.4726324 per year

Explanation: The following elements are to be considered in this case:

- The total amount required for Linda's education is $132,000 ($33,000*4)

-Parents had already started investing $5,300 per year for the past five years. This is a stream of even cash flows, at an interest rate. Considering we are at the point before our parents decided to invest the $5,300 and we want to determine the future value of this fixed payments, we will consider the formula below:

Future Value FV = Cash flow per period C * ([1 + i]^n - 1 )/i where i is the interest rate and n the number of times or periods

FV= $5,300 * ([1 + 0.11]^5 - 1 )/0.11

FV= $5,300 * 6.22780141

FV= $33,007.347473

Considering they will continue to save $5,300 for five more years, we can adjust the above formula and obtain the future value of the fixed payment of $5,300 over a period of 10 years

FV= $5,300 * ([1 + 0.11]^10 - 1 )/0.11

FV= $5,300 * 16.722008965

FV= $88,626.647515

This implies our parents will have the above amount when Linda is to start college and will require an additional $43,373.35248 ($132,000 - $88,626.647515 ) to have the entire fees at hand.

Now, we have to determine how much should be saved every year for the next five years (when Linda starts school) in order to obtain the amount left to complete Linda's fees.

Considering the formula above, it should be noted that we alraedy know the future value, the interest and the number of years involved. So to get the cash flow or amount to be saved per period,

- Cash Flow per period C = Future value FV/ ([1 + i]^n - 1 )/i

C = $43,373.35248 / ([1 + 0.11]^5 - 1 )/0.11

C = $43.373.35248 / 6.22780141

C = $6,964.4726324

Thus, in addition to the $5,300 currently being saved by our parents, they will have to save an additional $6,964.4726324 per year so as to obtain the total amount for Linda fees of $132,000 which will be divided into $33,000 per year.

3 0

3 years ago

Read 2 more answers