Answer:
B, In response to low crop prices and overproduction, it is being replaced by intensive subsistence farming.
Explanation:
A market economic system is one in which laws of demand and supply determine the production of goods and services. Agriculture in market economic systems is not being replaced by subsistence farming because subsistence farming is low scale farming that meets the needs of a family and as such is not affected by any laws of demand and supply as in commercial farming.
Cheers.
There are different kinds of market. The option that is not a reason perfect competition is a useful simplification, despite the diversity of market types we find in the world is that;
- There are many buyers and many sellers in all types of markets.
<h3>What leads to perfect competition?</h3>
Firms are known to be in perfect competition due to;
- When many firms produce identical products.
- When there are plenty buyers available to buy the product, and and also plenty sellers are available to sell the product, etc.
Firms are said to be in perfect competition when a lot of firms produce the same type of products and also these firms can do business in the market without any kind of restrictions.
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Answer:
PV of the sales price $1,986,948.23
Explanation:
We will calcualte the present value of the sale price using the present value of a lump sum formula:
Maturity 3,200,000
time 5 years
rate 10% = 10/100 = 0.1
PV $1,986,948.2338
This indicates the 3,200,000 in five years are equivalent to 1,986,948.23 dollars Thus, this investment is not profitable as the property will be purchased at 2,200,000
Answer:
Policy loans are permitted on an interest-free basis.
Explanation:
The universal life insurance policy refers to a policy in which there is a component of an investment saving also it involves less premium that the person has to pay a low premium amount for continuing the policy. It could benefit the beneficiary after the death of the insured person
So according to the given situation ,for option B there is no flexibility available as no policy loans could be permitted without an interest
Answer:
Option (a) is correct.
Explanation:
Given that,
Beginning balance of Retained Earnings = $75,000
Net income = $26,000
Ending retained earnings = $91,000
Total Balance during the year:
= Beginning balance of Retained Earnings + Net income
= $75,000 + $26,000
= $101,000
Dividend declared:
= Total Balance during the year - Ending retained earnings
= $101,000 - $91,000
= $10,000
Therefore, the amount of dividend declared by the Superior during its recent year of operation is $10,000.
