Income is the sort of payment if your annual salary is $42,000.
What is Income?Sales revenue from goods or services is one type of business revenue that is acceptable. One example of company income is the fees a person receives from regularly practicing their profession. Rent payments are considered business income for those who work in real estate. According on the situation for instance, taxation, financial accounting, or economic analysis income may have a variety of definitions. Most people define their income as their overall earnings, which includes their wages and salaries, investment returns, pension payments, and other receipts.The total income a firm receives from the sale of products or services that are connected to its core business operations is referred to as revenue. An organization's overall earnings or profit is known as income or net income.Therefore,
Salary is defined as a fixed sum of money that an employee receives each month and accumulates over the course of a year.
To learn more about Income, refer to:
https://brainly.com/question/28390284
#SPJ4
A company has these items on its financial statements at year's end:
• Cash: $10,000
• Accounts receivable: $50,000
• Inventory: 55.000
• Cost of goods sold: $15,000
• Purchases: $20.000
What was the beginning inventory?
O 50
O $5,000
O $10.000
O $15.000
O $25,000
These items appear on a company's financial statements at the end of the year:
• Cash: $10,000
• $50,000 in accounts receivable
• Stock level: 55.000
Briefing:-• $15k in cost of goods sold
• Spending: $20.000
50 The initial inventory
Accounting Statements: What Are They?The business operations and financial performance of an organization are described in financial statements, which are written records. To ensure accuracy and for tax, financing, or investing purposes, financial statements are frequently audited by government entities, accountants, corporations, etc.
Which 5 financial statements are the most fundamental?earnings statement. most crucial, perhaps.
Income statement.
The balance sheet.
A note to the financial statements.
Change in equity statement.
To Know more about financial statements
https://brainly.com/question/14951563
#SPJ4
How does contractionary fiscal policy reduce inflation?
Contractionary policy is characterized by decreased government spending or increased taxes to combat rising inflation.
Contractionary fiscal policy refers to actions taken by the government to decrease aggregate demand in the economy, such as increasing taxes or decreasing government spending. This decrease in demand can lead to a decrease in inflation by reducing the overall level of economic activity and slowing the rate of price increases. Additionally, by decreasing the amount of money in circulation, contractionary fiscal policy can help to decrease inflationary pressures. Examples of contractionary fiscal policy include cutting government spending on programs and services, increasing taxes, and decreasing transfer payments
Know more about Contractionary fiscal policy - https://brainly.com/question/30159894
#SPJ4
What is the purpose of budgeting Mcq?
The purpose of budgeting is to plan and control an organization's income and expenditure
Budgeting enables a business to plan its financial expenditures and guarantees that it will always have enough cash on hand to cover its needs and key expenses. The goal of the budget is to set financial goals and then prepare for and evaluate the results to help with decision-making. Thus, planning and control are at the centre of budgeting's primary purpose.
Setting financial goals and figuring out what resources the company will need to achieve them can help it make future plans. Budgeting is a method that can be used to monitor and control actual financial performance. Management can rapidly find and fix any issues by comparing actual outcomes to budgeted sums.
Complete Question:
What is the purpose of budgeting?
A. Planning and control of an organization's income and expenditure
B. Preparation of a five-year business plan
C. Company valuation
D. Assess the non-financial performance of an organization
Read more about budgeting on:
https://brainly.com/question/30195070
#SPJ4
What is the difference between revenue and marginal revenue?
While marginal revenue is the additional income received from the sale of a single additional unit of a good or service.
Since it represents the extra money received by selling an extra unit, marginal revenue is directly related to total revenue. The overall revenue will keep rising so long as the marginal revenue exceeds the marginal cost of generating a new unit. Companies frequently see a decline in overall revenue if the marginal cost exceeds the marginal revenue.
While both types of revenue are related to a company's overall earnings, marginal revenue solely relates to the assessment of enhanced earnings when selling an additional good or service, whereas total revenue is the sum of all profits. In other words, a unit increase in sales will result in a marginal revenue increase of any total income.
To learn more about marginal revenue please click on below link
https://brainly.com/question/25404320
#SPJ4
What do you mean by gross national product Mcq?
Gross National Product (GNP) is a macroeconomic measure of the total market value of all final goods and services produced by a country in a given period of time.
It is typically used to measure the total economic output of a country and is calculated by adding private consumption, government spending, investments, and exports, while subtracting imports.
The gross national product (GNP) is determined by adding up all domestic private investment, domestic government spending, net exports, and any resident income from overseas investments, then deducting foreign resident income.
To know more about GNP here
https://brainly.com/question/29617494
#SPJ4
Drag the correct words or phrases into the blanks to complete the following paragraph.
A monopolist follows the same profit-maximizing rule as a firm in a competitive market: produce until marginal cost equals marginal revenue. As prices go down, the monopolist gains more customers. At the same time, this lowers the revenue from each individual customer, including the existing ones. However, up to a certain point the increased sales volume offsets the revenue loss from the price decrease.
(Monopolists still have to follow the laws of the market and only have partial control over what prices they set.)
Produce until marginal cost equals marginal revenue, which is the same profit-maximizing principle applied by a monopolist as it is by a business in a competitive market. More people buy from the monopolist as prices decline.
What is the formula for profit maximization in a market with the monopolistic competition?
The rule for maximizing profit in a market with monopolistic competition is to set MR = MC, and because of the downward-sloping demand curve, the price is higher than marginal revenue rather than equal to it.
The number of goods produced at which marginal revenue equals marginal cost, or when MR = MC, is the decision that will maximize profits for the monopoly. If the monopoly produces less, MR > MC at given output levels, as well as the enterprise can increase profits by increasing output.
Therefore, The revenue from each individual customer, including current ones, is decreased as a result of this.
Learn more about monopolistic competition from the given link.
https://brainly.com/question/29407851
#SPJ4
Produce until marginal cost equals marginal revenue, which is the same profit maximization principle that a monopolist uses as well as a firm in a competitive market. When prices fall, more people buy from a monopoly.
The required details for monopoly market in given paragraph
What is the formula for maximizing profit in a monopoly market?
The rule for maximizing profit in a monopoly market is: MR = MC , and because of the slope of the demand curve, the price is greater than and not equal to marginal revenue. The number of goods produced for which marginal revenue equals marginal cost, or where MR = MC , is the profits decision of the monopolist maximized. If the monopolist produces less, MR > MC at certain stages of production, allowing the company to increase its profits by increasing production.
Therefore, the turnover of each individual customer, including the current customer, is reduced.
Read more about monopolistic competition on the given link .
brainly.com/question/29407851
#SPJ4
What are the barriers to international trade list and explain all the types of barriers to international trade?
Tariffs and nontariff barriers are the most typical trade restrictions. An import tax known as a tariff raises the cost of a good for the consumer by taxing imports and is levied by the federal government.
Define the term international trade barriers and its types?The term "free trade" refers to the removal of trade restrictions. Tariffs, quotas, and nontariff barriers are the most typical trade restraints.
A tariff is an import tax that is levied by the federal government and increases the cost of the good to the consumer. Tariffs, also referred to as duties or import duties, typically have two goals: first, to restrict imports, and second, to generate revenue.A quota is a restriction on the quantity of a specific kind of good that may be imported into the nation. A quota may be voluntarily adhered to or imposed by law.A quota is a restriction on the quantity of goods that may be imported, whereas a tariff is a tax on imported goods. The price of the goods affected by tariffs and quotas rises, while demand declines. The same effect is also produced indirectly by nontariff barriers, such as laws requiring a certain proportion of locally produced goods in a given product.To know more about the international trade barriers, here
https://brainly.com/question/1326741
#SPJ4
The price of gas, which started at $2. 56 per gallon, increased at a rate of 4% per year.
The function would be: P(t) = [tex]2.56(1 + 0.04)^t[/tex]. The function that models the situation is P(t) = [tex]A(1 + r)^t[/tex], where P(t) is the price of gas after t years, A is the initial price of $2.56 per gallon, and r is the rate of increase at 4% per year (expressed as a decimal).
The function P(t) = [tex]A(1 + r)^t[/tex] is a mathematical model that describes how a value (in this case, the price of gas) changes over time. The variable t represents the number of years that have passed since the initial price of gas was $2.56 per gallon. The variable A represents that initial price, and the variable r represents the rate of increase, which is 4% per year in this case.
So the function would be: P(t) = [tex]2.56(1 + 0.04)^t[/tex]
Learn more about price here https://brainly.com/question/12826472
#SPJ4
How do you attract people's attention in a presentation?
Get the audience engaged and give them a cause to listen by presentation. Describe an event or a person. narrate a tale. Describe a personal encounter. Refer to a recent occurrence. Embrace a statement or idea made by a prior speaker. Make a significant observation about the audience or the environment.
Through a presentation, a speaker imparts knowledge to an audience. The typical goals of a presentation are to inform, persuade, inspire, motivate, foster goodwill, or propose a novel concept or service .Presentations often need preparation, planning, organization, writing, the use of visual aids, stress management, and question-answering. The key elements of a presentation are "the presenter, audience, message, response, and methods to offer speech for organizational achievement in an effective manner." Presentations are widely used in tertiary professional settings by accountants to deliver in-depth financial analyses of businesses or by entrepreneurs to pitch their venture ideas to investors. The expression can also refer to a formal or ritualized greeting or present.
Learn more about presentation from
brainly.com/question/24653274
#SPJ4
A bias of -10 means
A. You are over forecasting
B. You are under forecasting
C. Your forecast is almost perfect
D. It tells you nothing about your forecast
______________Submit
Answer format: Text
You are under forecasting. A negative bias means that your forecast is consistently lower than the actual values.
What is forecasting bias and what causes them?Forecast Bias: What Is It?
Predict bias is characterised as a propensity to either over- or under-forecast (forecast is greater than actual), which results in a forecasting inaccuracy.
There are a variety of causes for this prejudice, including systemic ones that were covered in a previous discussion on predicting bias. Among the main causes of a forecast bias are:
The sales crew seems to have a great deal of faith in their capacity to close deals, which inflates the final results. This is optimism bias.
Sandbagging bias: This is the opposite of the aforementioned, and I have observed it in situations where well-intentioned executives built a system of compensation based on surpassing projections, which in turn produced a culture of sandbagging.
Anecdotal bias: I have heard of several cases in which client staff have been reluctant to see something because of a horrific incident that occurred in the past and is now a part of the business narrative, regardless of what the data is saying them. Therefore, based on the tales, their projection is skewed.
Recent data bias: This is likely true of all procedures involving people. In our minds, the more recent events are more significant. This might lead to an overreaction based on the most recent occurrences in the case of predicting.
Silly bias: Amor Tversky and Daniel Kahneman invited participants in research to estimate the number of nations in Africa. But before asking them to guess, they first showed them a number. They discovered that, on average, when users were presented a larger number before answering the question, their estimates for some nations increased and decreased, respectively. This leads me to believe that trivial things you noticed before you started making the prediction may have an effect on it.
To learn more about economic forecasting visit:
https://brainly.com/question/28478878
#SPJ4
What are the 3 principles in managing personal finance?
The concept given is Personal Finance, which includes all financial decisions and activities of an individual. The answer is, Spend less than you earn, Make the money you have work for you and Be prepared for the unexpected.
Personal finance is the financial management that an individual or family undertakes to budget, save, and spend money over time, taking into account various financial risks and future life events. The three principles include:
1) Spend Less Than You Earn: means: it means living within your means, don't overpay, reducing debt, and starting saving. However, budgeting and tracking your expenses is essential.
2) Make the Money You Have Work for You: To get really rich, you need to redistribute your money. And that means investment. You can invest your money in stocks where you own part of the company; Bonds, where you borrow money and get interested on it;; or start your own business.
3) Prepare for the Unexpected: The best financial plan can be quickly ruined by a variety of mishaps: job loss, fire, theft, or health problems. You have to protect yourself, but it's not as difficult as you think.
To know more about Personal Finance,
brainly.com/question/25780087
#SPJ4
What do you understand by scarcity and unlimited wants?
One of the defining characteristics of economics is scarcity. It's about how people can satisfy their limitless desires and needs with limited resources.
Scarcity affects the monetary value people give to goods and services, and how governments and private companies decide how to allocate resources. This means that the demand for goods or services is greater than the availability of goods or services. As such, scarcity can limit the choices available to consumers who ultimately make up the economy.
Scarcity is important in understanding how goods and services are valued. Rare things, such as gold, diamonds, or certain types of knowledge, are more valuable because they are rarer because sellers of those goods and services can set higher prices. We know that more people want your goods and services than they are cheap, so you can find buyers at a higher cost.
Scarcity of goods and services is an important variable in economic models as it can influence consumer choices. For some people, a shortage of goods and services means they cannot afford it. The economy everywhere is made up of these decisions about what individuals and businesses can produce and buy.
Know more about governments here:
https://brainly.com/question/16940043
#SPJ4
What are 5 characteristics of a developed country?
High wealth per capita, guaranteed security and health, a low unemployment rate, and technological mastery are characteristic of industrialized nations.
Developed nations are those that already possess advanced technology and a broadly based economic system. While developing nations are those where the population's degree of welfare is still at a developing level. Annual per capita earnings are high in developed nations. A country's economic value will increase if its per-capita income is high.
Compared to developing nations, developed nations have a higher level of security. This is another another unintended consequence of advanced technology in wealthy nations. Better weapons and security systems are also made possible by advanced technology.
know more about security here
https://brainly.com/question/15278726#
#SPJ4
Tamara goes on a spring break trip with her school to visit historical sites in italy. She purchases $200 of souvenirs while on the trip. She gets back to the u. S. And opens her credit card statement. What will be the balance in her account, assuming she had a zero balance prior to making these purchases and didn't make any other purchases? $0. 00 $200. 00 $206. 00 $6. 0.
Her account will have a negative balance of $200.
How to calculate balance?Ones or x's must be added in the equal amount on both sides. Whether using x's or ones, subtract the same amount from both sides. The same integer should be multiplied by both sides (but not by zero) Put the same number on both sides (but not by zero). the same amount of mass is present on both sides. The balance method is among the most often utilized approaches to equation solving. As a set of scales, consider an equation. The scales will remain in balance as long as the same operation (addition, subtraction, multiplication, or division) is used on both sides.By applying the idea of balance to this problem, we may determine:
Her account will have a negative balance of $200.
Balance: A credit card's balance is calculated by adding up all of the earnings and subtracting all of the expenses.
Tamara:
Initial balance: $0
Purchases: $200
Earnings: $0
Subtracting earnings by purchases:
0 - 200 = -$200
The balance in her account will be of -$200.
To learn more about balance, refer to:
https://brainly.com/question/23447356
#SPJ4
True or false? If your expenses are more than your income, you have a positive net cash flow.
All of the following statements are true concerning nicotine and weight control EXCEPT:
All of the following statements are true concerning nicotine and weight control except carrying extra weight is more dangerous than smoking.
How nicotine is harmful to health?Nicotine is a toxic and very addicting substance. It may result in an increase in heart rate, blood flow to the heart, blood pressure, and artery constriction (vessels that carry blood). In addition to contributing to artery wall hardening, nicotine may also increase the risk of a heart attack.
Depending on how frequently you smoke, this substance can linger in your body for six to eight hours. There are certain withdrawal adverse effects as there are with the majority of addictive drugs. Additionally, some modern tobacco products and e-cigarettes contain even more nicotine than regular cigarettes.
Learn more about nicotine, here:
https://brainly.com/question/15241838
#SPJ1
A law-enforcement officer or government agent doesn't need a search warrant to search the premises of a munitions factory.
It is false that a law-enforcement officer or government agent doesn't need a search warrant to search the premises of a munitions factory.
Who is a law enforcement officer?A law-enforcement officer is an individual who have been endorsed by the government to ensure compliance of laws and regulation.
An agent must obtain a search warrant before conducting a search of any premises. One of the Amendment of the US Constitution protects citizens against unreasonable searches and seizures, and a warrantless search would be considered unconstitutional. In order to obtain a warrant, the officer must provide probable cause to a judge, who will then issue the warrant if the cause is deemed sufficient
Therefore, a law-enforcement officer or government agent need a search warrant to search the premises of a munitions factory.
Learn more on enforcement officer below
https://brainly.com/question/20595604
#SPJ1
Jeremiah's credit card has an APR of 22% calculated on the previous monthly balance. His credit card record for the last 7 months
The balance in the credit card record for the last 7 months is $22.
What is a credit card?Customers (cardholders) are given credit cards, which are payment cards that let them pay for goods and services from merchants based on the debt they have racked up. A revolving account is set up by the card issuer, giving the cardholder access to a line of credit that can be used to get a cash advance or to pay a business. On the other hand, a charge card requires that the entire sum be repaid each month or at the end of each statement cycle. Users using credit cards, on the other hand, have the option of accumulating continuous debt that is subject to interest fees. A debit card, which the cardholder can use to make purchases of goods and services, is different from a credit card.
Balance= 100*22%= $22
To learn about credit card, visit:
https://brainly.com/question/27312834
#SPJ1
What is the best definition of marginal revenue the possible income from producing?
The best definition of marginal revenue is the additional income gained from selling additional goods. Option C is the correct answer.
Within a fully competitive market, the extra income produced by the sale of an additional component of a good is equivalent to the price at which the firm will sell the good to the buyer. The extra revenue that will be generated by one component through product sales is understood as marginal revenue in microeconomics.
Delivering one more unit would generate greater revenue than it would cost if the marginal revenue is greater than the cost of margin. The value of delivering one more unit is a Marginal cost.
To learn more about marginal revenue, visit the link below:
brainly.com/question/27373306
#SPJ4
The complete question is:
What is the best definition of marginal revenue? a. the possible income from producing an additional item b. the price of producing one additional unit of a good c. the additional income gained from selling an additional good d. the financial gain from business activity minus expenses
Choose the example below that is a coincidence indicator.
O Laffer Curve
O Unemployment rate
O Weekly jobless claims
O Consumer confidence index
Option (b), The example below uses the unemployment rate as a coincidence indicator.
What makes a coincident indication a good example?An indicator used in economic statistics called as a coincident indicator changes (more or less) concurrently with overall economic conditions and hence captures the current situation of the economy. Industrial output or personnel turnover are examples of indicators that happen by happenstance rather often.
GDP: a lagging or coincident indicator?GDP growth is frequently used as a barometer of the health of the economy, but it is essentially a lagging indicator because it is always out of step with reality. The GDP growth rate is a good predictor of the health of the economy, but it focuses on the past rather than the future.
Learn more about coincident indicator: https://brainly.com/question/22600869
#SPJ4
Did the Articles of Confederation have the power to coin money?
The national government had few powers. It could coin money, direct the post office, and negotiate with foreign powers, including Native American tribes. To raise money or soldiers, it could only request that the states provide what was needed.
Define articles of confederation?The United States of America's thirteen original colonies came to an agreement known as the Articles of Confederation and Perpetual Union, which established the country's initial system of governance.The thirteen independent American colonies' first constitution was the Articles of Confederation.From 1781 to 1787, they were in force. A constitution is a written document that lays out a nation's laws and guiding ideas.A league of independent nations or states make up a confederation, a kind of government. Each state is sovereign, has its own jurisdiction, and is free to act whenever it chooses, but they work together to form a shared government.To learn more about articles of confederation refer to:
https://brainly.com/question/2023724
#SPJ4
What are the steps involved in planning a diet?
A balanced diet ensure that you will be taking foods that meet your daily caloric needs.
What is meant by a "balanced diet"?
In a balanced diet, all of the essential elements that the body need are present.
Water, lipids, proteins, fiber, vitamins, minerals, and carbs are just a few of the nutrients that must be included in a well-balanced diet. By consuming a nutritious, well-balanced diet, the risk of disease is decreased, and general health is enhanced.
What is a balanced diet and why is it so important?
An appropriately balanced diet provides the nutrients your body needs to operate correctly. Without a healthy diet, your body is more susceptible to ailments, infections, tiredness, and subpar performance.
Children who don't consume enough food may have problems with their growth and development, their academic performance, and their susceptibility to repeated infections.
Learn more about balanced diet
brainly.com/question/30185589
#SPJ4
What are 6 steps for making healthy food choices?
Eat in moderation. Moderation really is the key to success, Portion control. Portion size helps you eat in moderation and keeps you from overeating, Listen to your body, Don't skip meals, Know your facts, Drink water are 6 steps for making healthy food choices.
What does "balanced diet" mean?
All of the key nutrients that the body need are included in a balanced diet.
A well-balanced meal must contain a variety of nutrients, including water, fats, proteins, fiber, vitamins, minerals, and carbohydrates. The risk of disease is reduced, and overall health is improved, by eating a nutritious, well-balanced diet.
What is a balanced diet and how crucial is it?
The nutrients your body requires to function properly are provided by a balanced diet. Your body is more vulnerable to illness, infection, exhaustion, and poor performance without a balanced diet.
Lack of adequate food intake in children can lead to issues with growth and development, poor academic performance, and recurrent infections.
Learn more about balanced diet
brainly.com/question/30185589
#SPJ4
If you have a crash and someone is injured you should?
Answer: Give the person your insurance information (or vice versa)
Explanation:
How do you calculate monthly lease payments?
The steps that you must be followed to calculate monthly lease payments are:
Determine the Residual Value by used this formula RV= (MSRP) x (Residual Percentage).Determine the Monthly Depreciation use this formula MD = (Adjusted Capitalized Cost - Residual Value) / Term.Determine the Monthly Rent Charge use this formula MRC = (Adjusted Capitalized Cost + Residual Value) x (Money Factor).Determine the Monthly Tax use this formula MTU = (Monthly Depreciation + Monthly Rent Charge) x (Tax Rate).Determine the Total Monthly Lease Payment use this formula MLP = Monthly Depreciation + Finance Charge + Tax.Residual Value
The estimate of what the vehicle will be worth at the end of the lease, and it’s used to determine the monthly lease payment. The higher the residual value, the lower the monthly payment will be. The residual value is expressed as a percentage of the MSRP.
MSRP
The Manufacturer’s Suggested Retail Price: sometimes referred to as the ‘sticker price’ because that’s where you find it - on the vehicle’s window sticker; you can also find it on the dealership’s website.
Depreciation
In general, depreciation is the rate at which a vehicle’s value declines over time.
Adjusted Capitalized Cost
Refers to the value financed, which is the total value.
Learn more about lease payment, here https://brainly.com/question/17196771
#SPJ4
What is the most important information needed to create a budget?
Income and expenses are the most important information needed to create a budget.
A budget is a projection of expected income and expenses for a particular future time period. It is frequently established and updated on a regular basis. A budget can be used by a person, a group of individuals, a corporation, a government, or pretty much anything else that earns and spends money. Income and expenses are thus the most crucial data needed to develop a budget.
All forms of income, such as salary or investment income, as well as all types of expenses, such as rent, utilities, travel, and food, are included in this. A budget should include an account for any debt obligations and savings objectives. Making an accurate and efficient budget requires a thorough awareness of one's current financial status.
Read more about the budget on:
https://brainly.com/question/28753766
#SPJ4
At the beginning of the school year, sanjay bought a new box of 120 crayons. At the end of the year, only 10% of the crayons are still sharp. How many of sanjay's crayons are still sharp?.
Sanjay will have 12 crayons remain still sharp out of 10 crayons.
To calculate the number of sharped crayonsAs Sanjay brought 120 crayons in the year starting.
And in the end of the year only 10% of them remain sharped.
Here 10% 0f 120=(120/100)*100
10% of 120 is 12
Out of 120 crayons he have 12 sharped crayons at the end of the year.
To learn more about finding percentage refer :https://brainly.com/question/183571
#SPJ4
What is Thomas Friedman's theory?
The assumption made by Friedman that the spread of globalization will level the playing field for resource-poor nations depends on the accessibility of technology to these nations.
With those resources, these nations may offer distant services to sectors of the global economy. According to Friedman, the competitive playing grounds between industrial and emerging markets are becoming more equal. He describes how many Chinese and Indian businesses are outsourcing their production to participate in intricate global supply networks.
In The World Is Flat, Thomas Friedman takes the reader on a tour of many parts of the world while pointing out a "flattening" or post-9/11 change in the globalization process. He contends that people are affected by a startling and speedy confluence of technologies (not just countries and companies).
Learn more about Friedman's Visit: brainly.com/question/30155407
#SPJ4
How do tariffs affect international trade?
Foreign exporters find it more challenging to market their goods when a nation applies tariffs. They may lower pricing to prevent a sharp reduction in sales as their exports decline.
What trade barriers can be caused by tariffs?A tariff, or tax on imports, is the most typical trade obstacle. Tariffs drive up the cost of imported items in comparison to native products (good produced at home). Government taxes on imports are known as tariffs. They increase consumer prices, cause imports to fall, and may prompt other nations to retaliate. A state subsidy to a specific domestic industry is another typical trade obstacle. Producing those goods is less expensive thanks to subsidies than it would be on other marketplaces. Imported items cost more as a result of tariffs. Because of this, domestic customers find it less appealing. Tariffs lessen market competition's strain on domestic producers. It is hoped that people will start buying indigenous goods.
To know more about Tariff visit:
brainly.com/question/29977647
#SPJ4
Which nation has a command economy?CubaNorwaySouth Koreathe United States
Command economy knowledge. The former Soviet Union, North Korea, and Cuba all have command economies. Up until 1978, China had a command economy. Then, it started the process of switching to a mixed economy that combines communist and capitalist characteristics.
Where is a command economy practiced?North Korea, Cuba, and the former Soviet Union are some examples of nations with command economy.
Is the US economy run under command?The American economy functions as a free market for both consumer goods and professional services. It works as a command economy in terms of defense (and with relation to some parts of retirement benefits and medical care).
To Know more about Soviet Union
https://brainly.com/question/10173240
#SPJ4