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LenKa [72]
2 years ago
8

The study of how resources are distributed for production of goods and services within a social system is called.

Business
1 answer:
Fantom [35]2 years ago
4 0

It should be noted that the study of how resources are distributed for production of goods and services within a social system is called Economics.

<h3>What is Economics?</h3>

Economics  can be regarded as a social science which focus on the study of production as well as distribution, and consumption of goods as well as services.

Therefore, economics focus on how resources are distributed for production of goods.

Learn more about economics at:

brainly.com/question/25791968

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Venus Williams is one of the top women’s tennis players in the world. Because this status overrides all her other statuses, it i
Sonja [21]

Answer:

Master status

Explanation:

In the social development of an individual, some certain set of characteristics or social identity is peculiar to individuals in which that individual is known for. Such social identity is what we refer to as the status of an individual.  

Status of an individual can be achieved or ascribed. Achieved statuses such as occupation, athlete, teacher,  parent, spouse, criminal etc, all statuses gained throughout the course of individuals’ lives. Ascribed status on the or hand are statuses that an individual is born with, such as sex, race etc.

As an individual develops and interacts in a society, any particular status that makes a person well known for and easily identified with is referred to as the master status of the individual. The master status overrides other statuses of the individual. It is the status that confers a social identity that is exceptional on an individual. Master status can be ascribed or achieved.

The status of Venus Williams as one of the top women’s tennis players in the world is a Master status, which is an achieved status that overrides all other statuses that she is known for. Wherever her name  mentioned, the first thing that comes to people’s mind is her master status of being a star in tennis.

3 0
3 years ago
Which market is most likely to be characterized by oligopolistic competition in the united states?
k0ka [10]

The market most likely to be characterized by oligopolistic competition in the united states is smartphone service providers.

<h3>What is an oligopolistic competition ?</h3>

An oligopoly is when there are few large firms operating in an industry. This is because there are high barriers to the entry and exit of firms into the industry.  The  smartphone service provider industry is dominated by  five industries due to the high cost and regulations in the industry.

Here are the options to the question:

a) soybeans

b) pens and pencils

c) smartphone service providers

d) men's clothing

e) electrical service to the home

To learn more about oligopolies, please check: brainly.com/question/26130879

#SPJ1

3 0
1 year ago
Market is a schedule or curve showing the various amounts of a product that producers are willing and able to make available for
Elza [17]

A market supply is a schedule or curve showing the various amounts of a product that producers are willing and able to make available for sale at each possible price during a specific period.

A market demand plan is a table that shows the relationship between price and demand for a particular commodity. To better understand this relationship, many economists plot a timeline of market demand on a graph called a market demand curve.

The demand plan shows that when the price increases, the quantity demanded decreases and vice versa. These points are plotted and the line connecting them is the demand curve. The product downward slope of the demand curve again indicates the law of demand, the inverse relationship between price and quantity demanded.

Learn more about the product at

brainly.com/question/25922327

#SPJ4

3 0
1 year ago
Identify whether each of the following statements best illustrates the concept of consumer surplus, producer surplus, or neither
sertanlavr [38]

Answer: Statement 1 ( Laptop) = Producer surplus

              Statement 2 ( watch ) = Neither

              Statement 3 ( jersey sweater) = Consumer surplus

Explanation:

Hi, Consumer surplus happens when the price that consumers pay for a product or service is less than the price they're willing to pay.

  • <em>Even though I was willing to pay up to $46 for a jersey sweater, I bought a jersey sweater for only $39.  </em>Consumer surplus

Producer surplus<em>  </em> is measured as the difference between what producers are willing and able to supply a good for and the price they actually receive

  • <em> I sold a used laptop for $149, even though I was willing to go as low as $140 .</em>Producer surplus
  • <em>I sold a watch for $59 on eBay last week. This week, someone offered me $145 for it.  </em>neither

Feel free to ask for more if needed or if you did not understand something.

5 0
3 years ago
All sales are made on credit. Based on past experience, the company estimates 2.5% of ending account receivable to be uncollecti
Misha Larkins [42]

Answer:

Debit Bad Debts Expense $12,475

Credit Allowance for Doubtful Accounts $12,475

Explanation:

Calculation for estimated bad debts expense:

Explanation

Accounts receivable * Sales uncollectible

$445,000×0.025

=11,125

Hence:

11,125 +Allowance for Doubtful Accounts 1,350

=$12,475

Therefore the estimated bad debt will be:

Debit Bad Debts Expense $12,475

Credit Allowance for Doubtful Accounts $12,475

4 0
3 years ago
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