1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Lunna [17]
2 years ago
10

In a economy, the government owns the means of production.

Business
1 answer:
Daniel [21]2 years ago
5 0

Answer:

(a) Command

Explanation:

A command economy is also known as planned economy and it can be defined as a type of economy in which the government owns and control the means of production.

This ultimately implies that, in a command economy, the government owns the means of production.

Societies that operate a command economy generally practices communism.

Communism is a system of philosophical, political, social organization and economical ideologies that advocates the elimination of private property but a profit-based economy with public ownership of the means of production.

It ultimately aims to ensure each person contributes and receives according to their abilities and needs.

Vietnam, China and Cuba are examples of communist countries that operate a command economy.

In conclusion, a command economy requires that the method of exchange, distribution, as well as the means of production of goods and services and allocation of resources for production should be controlled or regulated by the public (government) rather than the private sector.

You might be interested in
Simpson and Homer Corporation acquired an office building on three acres of land for a lump-sum price of $3,350,000. The buildin
Volgvan

Answer:

Building = $1,340,000

Land = $1,675,000

Furniture and fixtures = $335,000

Explanation:

This is an example of Basket Asset Purchase whereby a number of assets purchased as one package.

Initial value of each asset is are determined by the Basket Asset Purchase  based on their relative fair market value as follows:

Building = $3,350,000 × [$2,560,000 ÷ ($2,560,000 + $3,200,000 + $640,000)] = $3,350,000 × 0.4 = $1,340,000

Land = $3,350,000 × [$3,200,000 ÷ ($2,560,000 + $3,200,000 + $640,000)] = $3,350,000 × 0.5 = $1,675,000

Furniture and fixtures = $3,350,000 × [$640,000 ÷ ($2,560,000 + $3,200,000 + $640,000)] = $3,350,000 × 0.1 = $335,000

Therefore, the initial values of the building, land, and furniture and fixtures would be $1,340,000, $1,675,000, and $335,000 respectively.

6 0
3 years ago
On february 28th of 1986, _____________ starts her first solo world tour, starpeace, planning both u.s. and european dates. due
Monica [59]
Yoko Ono is the answer
5 0
3 years ago
Which of the following is incorrect regarding how a differentiation strategy can help a firm to improve its competitive position
nirvana33 [79]

Answer:

A. Supplier power is increased, because suppliers will be able to charge higher prices for their inputs

Explanation:

3 0
3 years ago
Pettit Ice Cream Company produces various ice cream products for which demand is highly seasonal. The company sells more ice cre
Rashid [163]

Answer:

a) Fixed costs = $22,000

b) $70,000

c) The high low cost method is generally inaccurate because it only considers the extremes, the highest and lowest costs and activity levels. Generally costs are not linear, but they might follow a certain tendency. The advantages of the high low cost method is that it is fairly accurate when costs are stable, plus it is much simpler to calculate.

d) Assuming that costs follow a certain tendency, regression analysis is much more exact since it analyses the relationship between different data and different variables. When you analyze only 2 variables, a linear regression analysis will serve you. but if you need to analyse more than two variables, then you must use a multiple regression analysis.

The R² statistic basically measures how one variable's variance is affected by other variables. E.g. if R² is 0.75, then 75% of the variance of A will be explained by the variance of B.

Explanation:

variable cost using high low cost method = (highest activity cost - lowest activity cost) / (highest activity level - lowest activity level) = ($82,000 - $46,000) / (50,000 - 20,000) = $36,000 / 30,000 gallons of ice cream = $1.20 per gallon of ice cream

fixed costs = $82,000 - (50,000 x $1.20) = $22,000

40,000 gallons

$22,000 + (40,000 x $1.20) = $70,000

how regression analysis improves accuracy of high low cost method

3 0
3 years ago
When Patrick was talking with his customer about the new accounting system, his customer mentioned that she thought the new syst
Softa [21]

Answer:

E. overcoming reservations

Explanation:

4 0
2 years ago
Other questions:
  • Anderson Distribution Company has purchased 15 forklifts over the past two years. As it plans to place its next order for anothe
    11·1 answer
  • Mark is an excellent cook. He does not have any formal training but learned to cook by following the recipes of several famous c
    11·2 answers
  • When government expenditures increase, the interest rate
    10·1 answer
  • Griffin's Goat Farm, Inc., has sales of $796,000, costs of $327,000, depreciation expense of $42,000, interest expense of $34,00
    7·1 answer
  • A financial institution has entered into an interest rate swap with company X. Under the terms of the swap, it receives 10% per
    6·1 answer
  • A financial analyst is presented with information on the past records of 60 start-up companies and told that in fact only 3 of t
    15·1 answer
  • The employees of Beverage Bottling Company designate Cola Cappers Union as their bargaining representative. Beverage refuses to
    10·1 answer
  • Big Fork Lumber Company incurs a cost of $402 per hundred board feet (hbf) in processing certain "rough-cut" lumber, which it se
    11·1 answer
  • Describe the parliamentary meeting procedure and its purpose.
    7·1 answer
  • The British government increased the national debt from $75 million to $133 million by borrowing from ________ and British banke
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!