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swat32
2 years ago
11

What is economic system ?​

Business
2 answers:
CaHeK987 [17]2 years ago
8 0

Answer:

An economic system, also known as an economic order, is a method of producing, allocating resources, and distributing products and services within a community or geographical region.

Countries and governments allocate resources and trade commodities and services through economic systems. They are used to manage the five components of production: labor, capital, entrepreneurs, physical assets, and information assets.

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joja [24]2 years ago
4 0

An Economic System, sometimes known as an <em>Economic Order</em>, is a system for producing, allocating resources, and distributing products and services within a community or geographical region. It is made up of the numerous organizations, agencies, entities, decision-making processes, and consumption patterns that make up a community's economic structure.

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Under the FLSA, regular rate of pay does not include: A. vacation pay. B. severance pay. C. overtime pay. D. earned bonuses. E.
Galina-37 [17]

Answer:

The correct answer is A

Explanation:

FLSA stands for Fair Labor Standard Act, which is defined as the act that usually requires, the covered non- exempt employees to receive the overtime pay, at least 1 and 1/2 times of their regular pay for the time they worked in excess of the 40 hours per week of the work.

The regular rate is defined as the remuneration which involves all the employment remuneration that are subject to the exclusions mentioned in the Section 7 under sub section (e) of the FLSA.

So, the vacation pay is the one which is not involved in the regular rate as any time earned gained over 40 along with the vacation is the straight time which will not be paid.

5 0
3 years ago
Suppose the consumer price index (CPI) stands at 240 this year. If the inflation rate is 5 percent, then next year's CPI will eq
denis23 [38]

Answer:

c. 252

Explanation:

Calculation of what the next year's CPI will equal

Using this formula

Next year's CPI=[Consumer price index (CPI) +(Consumer price index (CPI) *Inflation rate

Let plug in the formula

Next year's CPI=[240+(240*5%)]

Next year's CPI=240+12

Next year's CPI=252.

Therefore the next year's CPI will equal 252

4 0
2 years ago
All of the following statements are correct when referring to process costing except: _______
Nesterboy [21]

Answer:

The answer your looking for is option A - Process costing would be appropriate for a jeweler who makes custom jewelry to order.

3 0
3 years ago
On January 1, 2021, Gerlach Inc. had the following account balances in its shareholders' equity accounts. Common stock, $1 par,
avanturin [10]

Answer:

On January 1, 2021, Gerlach Inc. had the following account balances in its shareholders' equity accounts. Common stock, $1 par, 256,000 shares issued $256,000

Paid-in capital—excess of par, common 512,000

Paid-in capital—excess of par, preferred 130,000

Preferred stock, $100 par, 13,000 shares outstanding 1,300,000

Retained earnings 2,600,000

Treasury stock, at cost, 5,600 shares 28,000

During 2021, Gerlach Inc. had several transactions relating to common stock.

January 15: Declared a property dividend of 100,000 shares of Slowdown Company (book value $10.6 per share, fair value $9.30 per share).

February 17: Distributed the property dividend.

April 10: A 2-for-1 stock split was declared and distributed on outstanding common stock and effected in the form of a stock dividend. The fair value of the stock was $4 on this date.

July 18: Declared and distributed a 3% stock dividend on outstanding common stock; fair value per share, $5.

December 1: Declared a 50 cents per share cash dividend on the outstanding common shares.

December 20: Paid the cash dividend.

Required:

Record the above transactions and events in journal entry format.

8 0
3 years ago
Should the job seeker's name should be the biggest element of the résumé?
givi [52]
No, because that's the name they're born with. It has nothing to do with how well they can or cannot do the job.
6 0
3 years ago
Read 2 more answers
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