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Scilla [17]
2 years ago
9

In a command economy, the goods and services that a country produces, the quantity in which they are produced, and the prices at

which they are sold are planned by ________.
Business
1 answer:
IrinaK [193]2 years ago
8 0

Answer:

In a command economy, the goods and services that a country produces, the quantity in which they are produced, and the prices at which they are sold are planned by the government

The government plans the goods and services that a country produces, the quantity in which they are produced, and the price at which they are sold.

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Opportunity cost is defined as A. the monetary expense associated with an activity. B. the highest valued alternative that must
Ratling [72]

Answer:

B. the highest valued alternative that must be given up to engage in an activity.

Explanation:

Opportunity Cost is the cost of next best alternative foregone while choosing an alternative.

Eg1: If I like Chapati more than rice & rice more than curd, the opportunity cost of consuming chapati is the next best option i.e rice.

Eg2 : Working as school teacher with salary 20000, next best option salary as coaching tutor i.e 10000 is the Opportunity Cost

A is inapt : Opportunity cost can be monetary or non monetary. Eg2 has monetary opportunity cost. But, Eg 1 has opportunity cost in terms of rice' (sacrifised) satisfaction.

C is inapt : Opportunity cost is only the cost of next best alternative & not all alternatives. Eg1 - Curd i.e 3rd best option after chapati, is not the opportunity cost after chapati.

4 0
3 years ago
According to the principle of comparative advantage, Group of answer choices countries should specialize in the production of go
Vanyuwa [196]

Answer:

should specialize in the production of goods for which they have a lower opportunity cost of production than their trading partners

Explanation:

A country has comparative advantage in production if it produces at a lower opportunity cost when compared to other countries.

For example, country A produces 10kg of beans and 5kg of rice. Country B produces 5kg of beans and 10kg of rice.  

for country A,  

opportunity cost of producing beans = 5/10 = 0.5

opportunity cost of producing rice = 10/5 = 2

for country B,  

opportunity cost of producing rice = 5/10 = 0.5

opportunity cost of producing beans = 10/5 = 2

Country A has a comparative advantage in the production of beans and country B has a comparative advantage in the production of rice

Country A should specialise in the production of beans and B  should specialise in the production of rice

4 0
2 years ago
Prepaid expenses, depreciation, accrued expenses, unearned revenues, and accrued revenues are all examples of:__________________
HACTEHA [7]

Answer:

The correct answer is

B) Items that require adjusting entries.

good luck ❤

3 0
3 years ago
Describe a social enterprise
adelina 88 [10]

A social enterprise is a  business that tries to solve

social problems, improve  people’s lives, or the environment.

Social enterprises are  businesses. They produce goods and services that earn money and  make profits like any business but they are working to make a  bigger difference, reinvesting  the profits they make to do more  good.

8 0
3 years ago
A computer shop with three processes (repair, upgrade, and checkout) has two types of customers (upgrade and repair/enhance). A
netineya [11]

Answer:

2upgrade and 21 repair \enhance

6 0
2 years ago
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