In a market economy, competition is a crucial requirement. what is one benefit to fostering competition in an economic system?
it gives consumers more choices in the quality and price for things they want to buy.
it causes higher prices, so businesses make a higher amount of profits.
it limits the freedom companies have to create new products.
it never requires any outside assistance from the government.

Answers

Answer 1

In a market economy, competition is an important responsibility. The benefit to fostering competition in an economic system is that it affords consumers more choices in the quality and price of belongings they want to purchase.

What is a market economy?

A market economy is defined as those economic systems where the price communications constituted by supply and demand force judgments about production, investment, savings and distribution to consumers.

In this system, all providers and consumers are open-ended by price regulations or contract freedom. Competition is an essential element of a that economy.

The advantage of increasing competition in an economic system is that it provides consumers with more options in terms of the quality and pricing of the goods they want to purchase.

Therefore, option A is correct.

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Answer 2

Answer:It gives consumers more choices in the quality and price for things they want to buy.

Explanation:

Related Questions

The north american free trade agreement (nafta) is a trade agreement between the united states, canada, and mexico that took effect in 1994. it eliminated many tariffs and restrictions to allow free trade among these countries. discuss the positive and negative effects of the north american free trade agreement on the united states. support your conclusions with examples and evidence from the lesson.

Answers

The positive influence of NAFTA are:

Boast trade.Increase in economic output.More participation in foreign investment. etc.

What is the agreement about?

Others are:

Negative effect are:

U.S. jobs lost due to domestic manufacturers moving to lower-waged area of Mexico.Suppressed wages in terms of U.S. manufacturing plants.

Note that the North American Free Trade Agreement (NAFTA) was known to have started off in 1994 to increase or bring about a boast in trade that took place between the U.S., Mexico, and Canada.

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how can i get financing for my self storage business how to start a self storage business

Answers

Answer:

there are a ton of programs that will fund small buisnesses but in the meantime while waiting for that to happen you could get a part time job and save all your money for the buisness or you can hussle i recomend looking into marketplace flipping it is a great way to make quick cash if your good at it

Explanation:

What skills do you need be a marketing manager? as a marketing manager, you need to have skills and skills.

Answers

Answer:

You'll need:

the ability to sell products and services

excellent verbal communication skills

the ability to use your initiative

to be thorough and pay attention to detail

leadership skills

maths knowledge

business management skills

customer service skills

to be able to use a computer and the main software packages confidently

Brandon, a manager at Cerium Corp., is required to provide individual performance feedback to his subordinates. In this scenario, the communication between Brandon and his subordinates is at a(n) _____ level.

Answers

Based on the fact that Brandon has to provide information to subordinates, this communication is at an organizational level.

What is organizational level communication?

This refers to communication that takes place between employees of a company as a result of organizational requirements.

Brandon as a manager, has to communicate with other employees who are subordinates so this is organizational level communication.

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Brief, Inc., had a receivable from a foreign customer that is payable in the customer's local currency. On December 31, 2020, Brief correctly included this receivable for 372,500 local currency units (LCU) in its balance sheet at $240,000. When Brief collected the receivable on February 15, 2021, the U.S. dollar equivalent was $252,500. In Brief's 2021 consolidated income statement, how much should it report as a foreign exchange gain

Answers

The amount that should be reported as a foreign exchange gain is: $12,500.

Foreign exchange gain

Using this formula

Foreign exchange gain=U.S. dollar equivalent - Local currency units (LCU)

Let plug in the formula

Foreign exchange gain=$252,500-$240,000

Foreign exchange gain=$12,500

Therefore the amount that should be reported as a foreign exchange gain is: $12,500.

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DIY, a retail hardware store, must use reasonable care on its premises to warn its invitees of: Group of answer choices all possible dangers only serious dangers. foreseeable risks. dangers about which the business does not know.

Answers

DIY must use reasonable care on its premises to warn its invitees of dangers about which the business does not know.

What are hidden dangers?

Hidden dangers can be described as dangers or threats that may not be completely predictable at a location, but that must be addressed in the event that they occur.

Since these dangers are the ones the business does not know about, the business must use reasonable care on its premises by ensuring that an ordinary person, exercising ordinary judgment, would not do anything that might cause hurt or damage in any form.

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What is the for an individual or organization with a potential interest in buying something a company has to sell?

Answers

An individual or organization with a potential interest in buying something a company has to sell is called as Target Market.

What is target market?

A target market is a group of people with some shared characteristics that a company has identified as potential customers for its products. Identifying the target market informs the decision-making process as a company designs, packages, and markets its product.

A target market may be broadly categorized by age range, location, income, and lifestyle. Many other demographics may be considered. Their stage of life, their hobbies, interests, and careers, all may be considered.

Thus, An individual or organization with a potential interest in buying something a company has to sell is called as Target Market.

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An increase in a firm's total asset turnover will Blank______ the sustainable growth rate. Multiple choice question. destabilize increase decrease

Answers

An increase in a firm's total asset turnover will Blank increase the sustainable growth rate. Hence, option B. increase is the answer. Read below about firm's total asset turnover.

What is firm's total asset turnover?

The asset turnover ratio measures how positively an organisation employs its assets to generate revenue or sales. The ratio compares the amount of sales or revenues to the company's total assets to measure the efficiency of the company's operations.

Therefore, the correct answer is increase.

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BSU Inc. wants to purchase a new machine for $29,300, excluding $1,500 of installation costs. The old machine was bought five years ago and had an expected economic life of 10 years without salvage value. This old machine now has a book value of $2,000, and BSU Inc. expects to sell it for that amount. The new machine would decrease operating costs by $7,000 each year of its economic life. The straight-line depreciation method would be used for the new machine, for a six-year period with no salvage value.Instructions
a. Determine the cash payback period.
b. Determine the approximate internal rate of return.
c. Assuming the company has a required rate of return of 10%, state your conclusion on whether the new machine should be purchased.

Answers

C I believe is the answer sorry if wrong

What are the 3 psychological states reviewed in class that may improve engagement in the workplace?
Acceptance, Belonging, Contribution
Acceptance, Contribution, Teamwork
Acceptance, Compensation, Rewards
Belonging, Compensation, Teamwork

Answers

Answer:

Experienced meaningfulness: This is a positive psychological state that will be achieved if the first three job dimensions—skill variety, task identity, and task significance—are in place. All three dimensions help employees feel that what they do is meaningful.

Please help worth bonus points!

Answers

Answer:

the 4th and 5th one is for france

Explanation:

this is done in france France, it is called french silver service, it's a method of food service at the table, it's known as à l'anglaise (English service)

4=the staff utilizes platters to serve cooked food

5=the last one

1= america, the first one.

2=Russia

3=russia

if I got anything mixed up, pls inform me.

Alpha ended 2019 with a balance of $20 million in their salaries payable account. If their salary expense in 2019 was $90 million, what was their ending balance for salaries payable on December 31, 2018

Answers

Based on the ending balance on salaries payable in 2019, and the salaries expense, the salaries payable at December 2018 must have been $30 MILLION.

What was the Salaries payable balance?

This can be found by the formula:

= Ending salaries in 2019 - Salaries expense in 2019 + Salaries paid in 2019

Solving gives:

= 20 million - 90 million + 100 million

= $30 million

In conclusion, the ending salaries payable in 2018 was $30 million.

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Copado has a new product management tool with features such as Sprint wall, capacity planner, SAFe compliant, Kanban board with quick actions, and SO much more. What is the name of this new product

Answers

The Copado Firm used a software based tool as its product management tool.

What is the new product management tool?

These are management tool that are used in conceptualization, designing, developing and marketing the newly created goods or services.

A software based product management tool is used by Copado in development and creating of its new product.

Answers

Businesses can decrease income equality by paying minimum equal wages to the employees to fulfill their basic needs.

What are the causes of income inequality?

Income inequality refers to the fluctuations in the distribution of income among individuals based on their background or society. The reasons for this income equality are a technology that replaces humans at the workplace.

Organizations opted for outsourcing people from overseas for the roles which cause income inequality. Racial discrimination also leads to disparities in the distribution of income among people from different societies or races.

Therefore, organizations need to pay minimum income to employees to reduce income inequality.

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Mason, who is a waiter, is injured when an unopened bottle of cola explodes in his hand while he is putting it into the restaurant's cooler. If Mason wants to sue the bottling company for his injuries:

Answers

Answer:

he will probably win if the court allows him to use the res ipsa loquitur doctrine

Explanation:

Suppose a self-regulating economy is in a recessionary gap at the time the Fed enacts expansionary monetary policy. Furthermore, suppose the Fed is able to enact expansionary monetary policy in such a precise way that the economy moves from a recessionary gap into long-run equilibrium, if there are no other changes in the economy. The combination of expansionary monetary policy and a self-regulating economy will cause

Answers

The combination of expansionary monetary policy and a self-regulating economy will cause real GDP will rise to the level above natural real GDP and the recessionary gap would hence turn into an inflationary gap situation.

What do you mean by monetary policy?

Monetary Policy refers to the control of the quantity of money available in an economy through which new money is supplied.

The self-regulating economy experiences a recessionary gap. The real GDP is less than the level of natural real GDP. The gap is been corrected by the rightward shift in the short-run aggregate supply curve.

Due to interplay, real GDP will rise to the level above natural real GDP and the recessionary gap turn into an inflationary gap.

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A schedule is useful for _______. a. Visualizing all your commitments b. Solving workflow problems c. Maintaining your responsibilities d. All of the above Please select the best answer from the choices provided

Answers

A schedule is useful for visualizing all your commitments, solving workflow problems and maintaining your responsibilities.

What is the use of a schedule?

A schedule is something refer to the time that is planned in a proper way.

It is a sequential and organized time table that gives the idea about the available time, what is to be done, when is to be done and in what duration.

It saves the money and time as well.

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What would be an opportunity cost for the business if it chooses to open the
new branch in China?
O A. The business would be able to easily sell its products to many new
customers.
B. The business could not use the money it spends on the new
branch for something else.
C. The business would have to spend all its money making new
Chinese products.
D. The business would be able to increase the selling prices for most
of its products.
SUBMIT

Answers

Answer:

Explanation:

An opportunity cost for the business if it chooses to open the new branch in China is that the business would be able to easily sell its products to many new customers.

Answer:

Explanation:

I got it right on my test

The Taylors have purchased a $220,000 house. They made an initial down payment of $20,000 and secured a mortgage with interest charged at the rate of 7%/year on the unpaid balance. Interest computations are made at the end of each month. If the loan is to be amortized over 30 years, what monthly payment will the Taylors be required to make? (Round your answer to the nearest cent.) $ What is their equity (disregarding appreciation) after 5 years? After 10 years? After 20 years? (Round your answers to the nearest cent.) 5 years $ 10 years $ 20 years $

Answers

Answer:

Explanation:

https://study.com/academy/answer/the-taylors-have-purchased-a-270-000-house-they-made-an-initial-down-payment-of-40-000-and-secured-a-mortgage-with-interest-charged-at-the-rate-of-6-year-on-the-unpaid-balance-interest-computatio.html

The multi resource company manufactures two lines of washing machines, regular and deluxe. the contribution margin per unit of a regular model is $110 and for deluxe model is $175. the company has two departments, assembly and testing. the regular model requires 3 hours to assemble, while a deluxe model requires 4 hours. the total time available in assembly is 12,144 hours. in the testing department, it requires 2. 5 hours to test a regular model and 1. 5 hours to test a deluxe model. a total of 6,240 hours of testing time is available. based on this information, the optimum production plan for multi resource is:

Answers

Based on this information, the optimum production plan for multi-resource production is 3,036 Deluxe models.

What is the optimum production plan?

The optimum production plan is the production plan that yields the highest level of contribution margin per unit of the limited resource.

Data and Calculations:

Regular Deluxe Total

Contribution margin per unit $110 $175

Assembly hours 3 4 12,144

Testing hours 2.5 1.5 6,240

Limited resource = Assembly hours

Contribution margin per unit of limited

resource = $36.67 ($110/3) $43.75 ($175/4)

Thus, the optimum production plan is to maximize the contribution margin per unit of the limited resource by producing 3,036 units of the Deluxe Model (12,144/4).

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Commodity futures contracts can be bought and sold on the open market for which reason?

a. commodity purchase contracts can be renegotiated at a future time in case the commodity isn't available.

b. currency-exchange rates fluctuate, changing the amount of profit that can be made on a particular commodity.

c. futures contracts remain valid even if the original parties to the contract sell the rights.

d. unsold commodities will be bought at fair market value by the federal government.

Answers

Commodity futures contracts can be bought and sold on the open market as C. futures contracts remain valid even if the original parties to the contract sell the rights.

What is an open market?

It should be noted that an open market simply means the market where securities are bought and sold.

In this case, commodity futures contracts can be bought and sold on the open market as futures contracts remain valid even if the original parties to the contract sell the rights.

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Price controls are sometimes used when the natural operation of free markets leads to: positive externalities. undesirable outcomes. an efficient distribution of goods. a trade deficit.

Answers

When a price controls are used, the natural operation of free markets leads to positive externalities.

What is a positive externalities?

This refers to a condition that exists when the production and consumption of a good or service benefits a third party not directly involved in the market transaction.

Therefore, the Option A is correct.

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Price controls are sometimes used when the natural operation of free markets leads to undesirable outcomes. Option B. This is further explained below.

What are Price controls?

Generally, Price control is simply defined as a government rule setting a maximum price for specific commodities and services.

In conclusion, Occasionally, price restrictions are implemented when the normal functioning of free markets results in unwanted consequences.

Answers

Based on the trends of globalization, the following are true:

C) Globalization is the process of integration among individuals, businesses, and governments.A) A business increases its production of widgets, and the cost of producing each widget decreases.A)Small businesses are unable to offer the same variety of products that larger firms are able to produce.A) There are no forms of government control or intervention.B) The nation will attempt to stabilize its economy by establishing various monetary and fiscal policies, reducing market volatility and stimulating economic growth.

What does globalization mean?

Globalization refers to the tendency of the world to become increasingly integrated across borders.

This means that individuals, businesses and governments, begin to work together more often in order to increase production and market reach.

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Tobin inherited 100 acres of land on the death of his father this year. A Federal estate tax return was filed and the land was valued at $300,000 (its fair market value at the date of the death). Tobin's father originally acquired the land years ago for $19,000 and prior to his death made permanent improvements of $6,000. What is Tobin's basis in the land

Answers

The basis of Tobin's land was stepped up or down to the fair market value, and that value was $3,00,000.

What is inherited property?

When a death happens in a year, the ground of the property is travelled up or downbound to the fair market value on the day of death if there is an inheritance case.

The process of property to a successor or heirs upon the death of the owner, often known as succession. The term “inheritance” besides refers to the property.

Tobin has inherited a property from his father, that died in the present year, and the sightly market value on the date of death, according to the federal estate tax return, is $3,00,000. Tobin's basis in land is $3,00,000.

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Unemployment that is caused by business recessions is called.

Answers

Answer:

Cyclical unemployment

Explanation:

You shouldn't take your investments out early. What do you think are some consequences of taking money out of your retirement early?

Answers

Answer:

You could trigger a higher tax bill.

You may have to pay a penalty.

Your request might be denied.

The withdrawn funds won't earn interest.

The distribution might not be protected from creditors.

Explanation:

Social Security and Medicare taxes are two types of
taxes.
O A. employment
O B. sales
O C. property
D. income

Answers

Answer:

Income taxes

Explanation:

Those are two type of income taxes and i know this because my grandma gets those lololol..no joke though

Anna is a sales representative for the Midwest Medical Supply. She really enjoys working for Midwest Medical, because she and others are treated as highly valued employees. Sales reps are given freedom and flexibility in their relationships with customers. While there are only a few layers of management at Midwest Medical, Anna has found that these managers try their best to support and assist her efforts. Based on Anna's experience, it appears that Midwest Medical is a(n)

Answers

"Anna is a sales representative for the Midwest Medical Supply. She really enjoys working for Midwest..." it appears that Midwest Medical is a casual organization. This is further explained below.

What is a casual organization?

Generally, a casual organization is simply defined as a collection of individuals working together for a certain goal, such as a company or government agency.

In conclusion, "Anna works for the Midwest Medical Supply as a sales representative. For her, Midwest is a great place to work, she and others are treated as highly valued employees...." Midwest Medical looks to be more of an informal company.

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Donald, a banker in an investment firm, has long hair. His boss thinks that all men who have long hair are not serious about their work. In this scenario, Donald's boss is guilty of _____.

Answers

In this scenario, Donald's boss is guilty of Stereotype as thinks that all men who have long hair are not serious about their work.

What is Stereotype?

Stereotype is a belief in which is unfair and untrue that many people have for the other people. For example:- Girls are considered to be weak ,innocent and polite and boys are considered as very strong and they never cry.

In the above scenario, Donald who is an investment banker is judged on the basis of his physical appearance. His boss has a Stereotype that all men who have long hair are not serious about their work.

Donald must be judged by his working skills rather than his appearance. Thus the boss is guilty about his Stereotype thinking.

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kaylee is so afraid of snakes that she avoids most outdoor activities and even refuses to spend time in her own backyard alone. kaylee appears to suffer from:

Answers

Based on the described scenario, it is most likely that Kaylee is suffering from specific phobia.

What is a Phobia?

This refers to the fear of something that is sometimes irrational and causes weird behavior and is diagnosed to be a psychological problem.

Hence, we can see that based on the fact that Kaylee is scared of snakes and as a result, avoids outdoor activities, and does not even spend time alone in the backyard, she likely suffers from a specific phobia.