True
The market system presented in the question relates to a system of capitalism. In capitalism private ownership of resources is used to control, motivate and coordinate economic activity.
Contrast this with a system of socialism or communism, where the state, which represents the collective people, who control the ownership of resources and then use it control and coordinate economic activity.
This contrast between private and public control of the resources is an essential component and critical idea in understanding the difference between free market systems that demand private enterprises be efficient and effective in the production and control of the resource, socialized systems which can limp along for years because of the public's support for their continuance.
Answer:
Structural unemployment is present in case of A, B, C, and D.
Explanation:
Structural unemployment refers to the situation when the workers are unemployed because of the mismatch between the skills they possess and the skills the employers are looking for.
Unemployment caused by drought cannot be classified as structural unemployment. The rest of the examples involves cases of structural unemployment.
Answer:
Using the weighted average method, the equivalent units produced by the department were:
= 8,760 units.
Explanation:
a) Data and Calculations:
Units Conversion
Ending inventory 1,560
Units completed 8,370
Units available 9,930
Beginning inventory 1,470 35%
Additional units started 8,460
Equivalent units of production:
Units completed 8,370 8,370 (100%)
Ending inventory 1,560 390 (25%)
Equivalent units of production 8,760
Answer:
$9,520
Explanation:
Terminal cash flow = After tax salvage value of new machine + Recovery of net working capital
Terminal cash flow = $6,000 + $3,520
Terminal cash flow = $9,520
So, the new machine's terminal cash is $9,520.