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2 years ago

1. Contrast traditional economies, command economies, and economies.

Business

1 answer:

Dima020 [189]2 years ago

4 0

Answer:

1. A traditional economy is a system that relies on customs, history, and time-honored beliefs.2 A market economy is a system where the laws of supply and demand direct the production of goods and services. A command economy is where a central government makes all economic decisions.

2. Gross domestic product (GDP) is the monetary value of all finished goods and services made within a country during a specific period. GDP provides an economic snapshot of a country, used to estimate the size of an economy and growth rate. GDP can be calculated in three ways, using expenditures, production, or incomes.

3. Globalization means the speedup of movements and exchanges (of human beings, goods, and services, capital, technologies or cultural practices) all over the planet. One of the effects of globalization is that it promotes and increases interactions between different regions and populations around the globe.

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Veltri Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.77 direct labor

olasank [31]

Answer:

Total direct labor cost= $122,752

Explanation:

Giving the following information:

Each unit of output requires 0.77 direct labor-hours.

The direct labor rate is $11.20 per direct labor-hour.

Production budget:

October= 7,100 units

November= 6,900 units

Minimum hours= 5,480 hours

First, we need to determine the number of hours required for each month.

October= 7,100*0.77= 5,467 hours

November= 6,900*0.77= 5,313 hours

Direct labor budget:

October= 5,480*11.2= 61,376

November= 61,736

Total cost= $122,752

3 0

2 years ago

This cartoon can be read and enjoyed on several levels. Which statement best captures the economic message of

makvit [3.9K]

Answer:

The correct statement lies in option C.

Monopolies negatively affect consumers.

Explanation:

The statement that best captures the economic message of the cartoon is that monopolies negatively affect consumers.

When a specific enterprise or person is the only supplier in the market, it is called monopoly.

Monopoly can result to higher prices of the good, also known as price taker as there is no other enterprise which can supply the same good.

Here, Santa Claus is the monopoly as he is the only supplier of gifts in Christmas so he gets sloppy and result in low output in his work.

5 0

2 years ago

The Operations Manager at Freightliner Trucks orders truck batteries which cost $100 each. Freightliner uses an average of 12,50

Anastasy [175]

Answer:

Calcium carbonate reacts w/stomach acid according to the following chemical equation.

CaCO3+2HCl(aq)-> CaCl2(aq)+H2O(l)+CO2(g)

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2 years ago

Please help will give Brainlest

Vikentia [17]

Answer:

Creative Commons license would I rather use or not and why is explained below in complete details.

Explanation:

A Creative Commons (CC) license is one of the numerous unrestricted copyright permissions that facilitate the free circulation of an oppositely copyrighted "act". A CC license is used when an investor desires to provide other people the power to share, practice, and develop upon a product that they (the author) have produced.

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2 years ago

4. Both the concentration and Herfindahl indices computed by the U.S. Bureau of Census tends to overstate the actual level. In a

Elodia [21]

Answer:

The use of data aggregation leads to overstatement of the concentration and Herfindahl indices

while the use of National/state data leads to understatement of the degree of concentration in local markets.

Explanation:

The ratio of concentration and Herfindahl indices computed are mainly made up of foreign players while the contributions of small local unorganized players are not considered, which leads to the increase in the value of indices and ratios been used, ( i.e. The use of data aggregation ) . hence the overstatement of the actual level.

The understatement of the degree of concentration in local markets happens because of the use of national and state data while computing the concentration in the local markets like gasoline and this is mainly caused by the presence of fewer industries in the market. The state and national data does not reflect the true concentration in the local market hence the degree of concentration is understated at the local level.

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2 years ago