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Artyom0805 [142]
2 years ago
9

What is the primary role of consumers in a free market economy?

Business
1 answer:
S_A_V [24]2 years ago
4 0

Answer:

The consumer is the one who pays to consume the goods and services produced.

Explanation:

As such consumers play a vital role in the economic system of a nation. In absence of effective demand the producers would lack a key to motivation

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Marty,a 16-year-old,contracted with Cream-of-the-Crop Cycles to buy an $8,000 motorcycle.He agreed to make monthly payments unti
jenyasd209 [6]

Answer:

C) Marty has ratified the contract and is now bound by its terms.

Explanation:

Ratified Contract : This refers to a contract in which the terms have been agreed upon by all parties involved but has not yet been fully executed, signed, and delivered. The typical steps in the contract process include the offer, acceptance, consideration, and ratification. So, in the case of Marty, the contract has been ratified and she is bound by it terms.

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3 years ago
Some companies secure from a firm that makes investments in promising new startups for a percentage of their profits.
allsm [11]
Venture capital. It’s where capitalism comes in homie
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3 years ago
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The same brand of chocolate truffles tasted better to julia when she thought they cost $20 a pound than when she thought they co
Nadusha1986 [10]

This example best illustrates the impact of top-down processing which is defined as pattern recognition advancement through the use of contextual information.

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3 0
2 years ago
Jon had adjusted gross income of $25,000 in 2019. During the year, he incurred and paid the following medical expenses: - Drugs
finlep [7]

Answer:

The allowable medical deduction after Adjusting Total Income is $0

Explanation:

Particulars                                                           Amount

Drugs and Medicines prescribed by doctors        $300

Add:- Health insurance premium                            $750

Add:- Doctors Fees                                                  $2,250

Add:- Eyeglasses                                                      $75

Less:- Reimbursement of doctors fees received   <u>($900)</u>

                                                                                  $2,475

Less :- Adjusted Gross Total Income of $25,000  <u>$2,500</u>

Allowable medical deduction after adjusting            -25

total Income

Therefore, as the resultant amount is negative. The allowable medical deduction after Adjusting Total Income is $0

Workings

Adjusted Gross Total Income of $26,000

= $26000 × 10%

= $2,600

5 0
3 years ago
A shortage will develop when _____. the market price is below the equilibrium price the quantity supplied of a good is greater t
dusya [7]
A shortage will develop when the market price is below the equilibrium price. 

In economics, the equilibrium price is when the quantity of goods supplied are equal to the quantity of goods demanded. There's a shortage when the price is below because there is not enough goods to supply what is demanded of the product. 
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