Explain the differences between how a market economy and a mixed economy decide what to produce, how to produce it, and for whom to produce it
What will be an ideal response?
In a market economy, individuals and private firms make decisions about what to produce based on consumer needs and wants with no government involvement. Individuals and private firms determine production methods based on calculations of efficiency and profitability. Individual income ultimately controls purchasing decisions. In a mixed economy, individuals and private firms make decisions about what to produce, but the government is involved in providing services and regulating some aspects of conducting business. Individuals and private firms determine production methods, but may be influenced or regulated by the government. Government distributes some goods and services through social programs, but individual income informs most purchasing decisions.
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Wanda is the Chief Executive Officer of Pink corporation, a publicly traded, calendar year C corporation. For the current year, Wanda's compensation package consists of: ? Cash compensation $ 2,500,000Nontaxable fringe benefits 250,000Taxable fringe benefits 150,000Bonus tied to company performance 2,000,000? How much of Wanda's compensation is deductible by Pink Corporation?
A. $1,000,000. B. $1,250,000. C. $3,250,000. D. $4,900,000. E. None of these.
When goods are transferred from the Work-in-Process Inventory account to the Finished Goods Inventory account, ________.
A) total assets and total liabilities increase by the same amount B) total assets of the company remain constant C) total equity and total assets increase by the same amount D) total liabilities increase and total equity decreases by the same amount
As of January 1 of the current year, the Grackle Company had accounts receivables of $50,000. The sales for January, February, and March were as follows: $120,000, $140,000 and $150,000. 20% of each months sales are for cash. Of the remaining 80% (the credit sales), 60% are collected in the month of sale, with remaining 40% collected in the following month. What is the total cash collected (both
from accounts receivable and for cash sales) in the month of March? A) $74,800 B) $146,800 C) $102,000 D) $116,800
List the three main options the book discussed to source individuals for international assignments.
What will be an ideal response?