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3 years ago

What is economic system ?

Business

2 answers:

CaHeK987 [17]3 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]3 years ago

4 0

An Economic System, sometimes known as an Economic Order, 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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Which of the following would not be an operations maangement function in a fast food restaurant?

iVinArrow [24]

Answer:

b. advertising and promotion

Explanation:

All process required to produce the product are part of operation and this includes making, designing the layout of the facility, purchasing ingredients an maintaining equipment.

The marketing and promotions lies with the Sales and Distribution Function or Marketing Function of the fast food restaurant.

4 0

3 years ago

Turner Company owns 10% of the outstanding stock of ICA Company. During the current year, ICA paid a $5 million cash dividend on

lozanna [386]

Answer:

Turnover Company

The net income of Turnover will increase by $500,000.

Explanation:

a) Data and Calculations:

Turner Company's shareholding in ICA = 10%

ICA pays dividend totalling $5 million

Turner's share of dividend = $500,000 ($5 million * 10%)

b) This is not based on equity accounting. Instead, the investment will be reported at fair value. Equity accounting method will be applied in recording Turner's investments in ICA Company, if the ownership interest is valued at 20–50% of the stock.

c) The $500,000 dividends received from ICA Company will be reported in the Income Statement of Turner Company as other income, unless Turner ordinarily buys and sells stocks. The 10% shareholding does not amount to significant control or influence for the accounts of Turner and ICA to be consolidated.

6 0

3 years ago

Hope receives an $18,500 scholarship from State University. The university specifies books, supplies, and equipment, while $10,0

irga5000 [103]

Answer:

Hope's gross income = $5000 + $10,000 = $15,000

Explanation:

First, we need to highlight what are qualified education expenses especially for tax-free fellowships and scholarships.

Specifically, the qualified expenses that will be tax exempt will be

The tuition and fees which are requirements to go to an eligible school or institution

Other course related expenses required for courses in such institutions such as books equipment and supplies are also tax exempt.

However, room and board, research travel and other expenses that are not required for courses in the institution are not tax free

Based on this analysis:

Hope's initial earning on campus = $5000

However, $10,000 spent on room and board are not required for enrolment in the school, hence, it will be added to the earnings to make the gross income

Hope's gross income = $5000 + $10,000 = $15,000

5 0

3 years ago

A resource-based strategy Multiple choice question. focuses on efficient execution of both primary and supporting components of

ki77a [65]

Answer:

can be achieved by exploiting resources that are competitively valuable, rare, and hard to imitate by rivals

Explanation:

A resource-based strategy is a form of the technique used by business managers to efficiently utilized the existing and valuable resources of the firm. These resources would be difficult to come by for the competitors such that it is hard for competitors to replicate. Thereby leading a sustainable or long term competitive advantage to the firm

Hence, in this case, the correct answer is A resource-based strategy "can be achieved by exploiting resources that are competitively valuable, rare, and hard to imitate by rivals."

5 0

3 years ago

Molly is a 30% partner in the MAP Partnership. During the current tax year, the partnership reported ordinary income of $200,000

loris [4]

Answer:

The answer is: C) $62,000

Explanation:

The partnership had a total ordinary income of $200,000. It made guaranteed payments to its three partners (Molly, Amber and Pat) of $20,000 each ($60,000 in total).

So the partnership adjusted income is reduced to $140,000, out of that amount, 30% belongs to Molly. Molly's share of the partnership adjusted income is $42,000.

Molly's total earnings from the partnership are $62,000 ($20,000 + $42,000)

8 0

3 years ago

What is economic system ?​

What is economic system ?