Answer:
1) Citizens can own property.
2) Supply and demand drives production.
3) Consumers and producers make their own decisions.
4) Citizens can accumulate wealth.
Explanation:
Free enterprise are the system where market determine price, product and services not the government. It completely free of government control. They could refer to legal support in certain cases, however, commercial activity are controlled by market and private parties. It is more of capitalism than consumerism. Free enterprises are worked under set of legal rules for commercial interaction. It is operated under competition.
A market for existing financial securities that are currently traded among investors is called the Secondary market.
A secondary market is a market for the purchase and sale of existing securities or other assets. They differ from primary markets, where the assets were created. Generally, most investors will only trade on secondary markets.
Transactions in the secondary market are undertaken with other investors rather than the security issuer. The procedure is comparable to buying products from the classifieds or a used car from a dealership rather than the manufacturer.
Stocks and bonds purchased in a retirement plan or through a brokerage account, for example, are traded on secondary markets.
Assume you have two portfolios: one through an employee stock ownership plan and the other through a discount brokerage. The main market transaction occurs when you purchase stock directly from the corporation, like in the first plan. It is a secondary market transaction when you buy in a discount brokerage account through stock exchanges.
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deals with the rules for securing and enforcing legal rights to inventions, designs, and artistic works.
Company’s products or services
The journal entry made by Tubman to record the dishonored note is Debit accounts receivable-Valley spa $9,120, Credit interest revenue $120; credit notes receivable $9,000.
<u>Journal Entry for dishonor of notes receivable:</u>
<u>Account title and explanation</u> <u>Debit</u> <u>Credit</u>
Accounts receivable-Valley Spa $9,120
Interest revenue [$9,000 x 8% x (60/360)] $120
Notes receivable $9,000
- A note receivable is a written agreement to pay a specific sum of money to another party on one or more dates in the future. The holder of the note views this as an asset. In order to give the debtor more time to pay, past-due accounts receivable are occasionally changed into notes receivable. These notes occasionally also include a personal guarantee from the debtor's owner.
- The party obligated to send money to the payee is known as the maker, and the party receiving payment under the terms of the note is known as the payee. The principle is the amount of the payment that is required, as specified in the terms of the note. On the date the note matures, the principal is to be paid.
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