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2 years ago

Why are people engaged in business? Explain.

Business

1 answer:

Crank2 years ago

3 0

Answer:

The reason why people get engaged in business is because they become more productive and people engage in business to make money and get returns on investment.

Explanation: This is the answer I hope this helped you out.

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A market situation where a small number of sellers compose the entire industry is called

Nadusha1986 [10]

Answer:

The correct answer is: oligopoly.

Explanation:

A market structure where there are only a few firms is called an oligopoly market. These firms can be producing either identical products or differentiated products.

Because of few firms, there is a high degree of competition in the market. The firms are price makers and face a downward sloping curve.

There is interdependence in the market such that the economic decisions of a firm affects the price, profits and output level of its rivals. So the firms have to consider the reaction of its rivals before making an economic decision.

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3 years ago

Luck is what happens when preparation meets opportunity.

elena-s [515]

Answer:

Roman philosopher Seneca once said, “Luck is what happens when preparation meets opportunity.”

Explanation:

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1 year ago

What 3 factors affect the return on savings account

statuscvo [17]

Answer:

The choice between consumption in the present and consumption in the future, perception of a close correlation between current income and consumption, and the smoothing of consumption over time as deriving from its comparison to the income which the individual would perceive as his/her permanent income.

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3 years ago

On November 1, 2018, Cullumber Farm entered into a contract to buy a $162000 harvester from John Deere. The contract required Cu

Vikki [24]

Answer:

The journal entry to record the contract on November 1, 2018 includes: credit to Accounts Receivable for $162000

Explanation:

Following the Accrual accounting - an accounting method that revenue or expenses are recorded when a transaction occurs rather than when payment is received or made. On November 1, 2018, Cullumber Farm had to pay $162,000 in advance to John Deere. John Deere recorded the cash receiving by the entry:

Debit Cash $162,000

Credit Accounts Receivable $162,000

The company did not record revenue because they did not sell the harvester. This was only the advance payment.

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2 years ago

Corbel Corporation has two divisions: Division A and Division B. Last month, the company reported a contribution margin of $47,7

LenaWriter [7]

Answer:

$41,650

Explanation:

Contribution margin is the net of sales and variable costs.

Contribution Margin:

Division A = $47,700

Division B = $231,000 x 35% = $80,850

Company calculates the Net Income after deducting The traceable and common fixed costs from the total contribution margin.

Total contribution margin = $47,700 + $80,850 = $128,550

Net Income = Total contribution margin - Traceable Fixed Expense - Common Fixed expenses

$27,200 = $128,550 - $59,700 - Common Fixed expenses

$27,200 = $68,850 - Common Fixed expenses

Common Fixed expenses = $68,850 - $27,200 = $41,650

4 0

2 years ago

Why are people engaged in business? Explain.​

Why are people engaged in business? Explain.