An important factor in a market-oriented economy is the mechanism by which consumer demands can be expressed and responded to by producers. In the American economy, this mechanism is provided by a price system, a process in which prices rise and fall in response to relative demands of consumers and supplies offered by seller-producers. If the product is in short supply relative to the demand, the price will be a bit up and some consumers will be eliminated from the market. If, on the other hand, producing more of a commodity results in reducing its cost, this will tend to increase the supply offered by seller-producers, which in turn will lower the price and permit more consumers to buy the product. Thus, price is the regulating mechanism in the American economic system.
The important factor in a private-oriented economy is that individuals are allowed to own productive resources (private property), and they are permitted to hire labor, gain control over natural resources, and produce goods and services for sale at a profit. In the American economy, the concept of private property embraces not only the ownership of productive resources but also certain rights, including the right to determine the price of a product or to make a free contract with another private individual.
In Line 9, Para.1, "the desire of individuals to maximize their incomes" means ______.
A.Americans are never satisfied with their incomes
B.Americans tend to overstate their incomes
C.Americans want to have their incomes increased
D.Americans want to increase the purchasing power of their incomes
A、Budget sales equal budgeted selling price multiplied with budgeted sales in units.
B、After we have budgeted our sales, we must make sure the production budget is adequate to meet the forecasted sales and to provide for the desired ending inventory.
C、Desired ending inventory in last month becomes beginning inventory in this month
D、The first step in preparing the production budget is to prepare Direct Materials Budget
Read the information and answer the following three questions. Silifone Manufacturing Company has the following sales budget: Month (in €000) January 500 February 400 March 550 April 450 May 500 June 470 The cash collection schedule of sales has been as follows: 70% of sales collected in month of sale 20% of sales collected in month following sale 5% of sales collected in second month following sale 5% of sales is uncollectible What is the ending balance of accounts receivable for May, assuming the uncollectible balance is written off after the second month?
A、€150,000
B、€172,500
C、€195,000
D、€205,000
A、The master budget consists of a number of separate but interdependent budgets that formally lay out the company’s sales, production, and financial goals.
B、The master budget culminates in a cash budget, a budgeted income statement, and a budgeted balance sheet.
C、The first step of budgeting for any type of organizations in any industry is to budget for the operation process.
D、Although operational budgets are adapted according to the industries, the preparation for budgeted income statement, cash and balance sheet are very similar.
A、Supervision and maintenance costs
B、Direct labour and direct materials costs
C、Electricity costs
D、Amortization and indirect labour costs
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