One business promising to do something for another business in return for receiving compensation is an example of a Contract.
By contract, what did you mean?An agreement between parties that establishes legal duties for both parties is known as a contract. Mutual consent, demonstrated by a valid offer and acceptance, sufficient consideration, capability, and legality are the fundamental components needed for the agreement to be a legally enforceable contract.
Contract with example: What is it?A commitment made by one party to another that they will or won't take a particular action in the future. As an illustration, I'll offer you $3,500 to buy your car. An acceptance. Usually reflects the conditions of the offer—an indication, through speech or action, that both parties accept the terms of the contract.
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Danielle williams is a 29-year-old single taxpayer who changed jobs during the year. When she left her first job, she decided to take a total distribution from the 401(k) plan she had established with her former employer. She then used the proceeds to make a down payment on a new car. In early 2022, she received the following form 1099-r reporting the distribution. Her only other income was from wages, and her 2021 taxable income was $51,350. What will be the amount of the penalty for the early withdrawal from her 401(k) plan, if any?.
Answer:
The penalty for the early withdrawal from Danielle's 401(k) plan would be 10%, which works out to be $5,135.
Explanation:
what document serves as a title to the goods in question under the document collection payment method?
Under the document collection payment method, a bill of lading acts as the products' legal title.
What is bill of lading?A carrier must provide a shipper with a bill of lading, which lists the kind, quantity, and final destination of the goods being transported.A bill of lading is a contract between a shipper and a carrier, a receipt for shipping goods, and a document of title.The carrier, shipper, and receiver must all have authorized representatives sign this document, which must also be included with the shipping items.A bill of lading can aid in preventing asset theft if it is managed and examined appropriately.It's critical to select the correct bill of lading because there are various varieties.For instance, a logistics company wants to ship gasoline from a factory in Texas (shipper) to a gas station in Arizona using a large vehicle (recipient). After pouring the gas onto the truck, a plant representative and the driver sign the bill of lading.The truck driver requests that the gas station employee sign the agreement once the carrier delivers the fuel to the Arizona gas station.Hence, Under the document collection payment method, a bill of lading acts as the products' legal title.
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using the percentage-of-receivables method for recording bad debt expense, estimated uncollectible accounts are $55,000. if the balance of the allowance for doubtful accounts is an $11,000 debit before adjustment, what is the balance after adjustment?
$66,000 is the adjusted balance. One method credit card companies employ to estimate a cardholder's finance account is adjusted balance.
One of numerous ways used by credit card companies to determine a cardholder's finance charge is the adjusted balance. The latter is the cost incurred when a cardholder doesn't pay their entire balance by the due date of each month, choosing instead to carry a load from month to month.
The current billing cycle's payments and credits are deducted from the prior balance at the end of the previous billing cycle when determining your financing charge using the adjusted balance method. The adjusted amount does not include any new charges that are accrued during the billing period.
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true or false: because employee performance is so important to organizations, senior management consistently supports performance management procedures.
Senior management does not support performance management procedures for employee performance . Thus, the statement is false.
What is performance management?Performance management is a corporate management tool that allows managers to monitor and evaluate the work of their employees. The goal of performance management is to create an environment in which people can perform to the best of their abilities and produce the highest-quality work in the most efficient and effective manner.
Businesses require effective performance management. It assists them in aligning their employees, resources, and systems to meet their strategic objectives through both formal and informal processes.
Therefore, to align the employees with the objectives of the organization, senior management consistently supports performance management procedures.
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which of the following statements is prepared using modified accrual accounting? a. general fund balance sheet b. agency fund operating statement c. enterprise fund operating statement d. investment trust fund balance sheet
General fund balance sheet is prepared using modified accrual accounting.
What is meant by balance sheet?An organization's assets and liabilities at a given point in time are described in detail in a balance sheet, which is a financial statement. One of the three essential financial statements, along with the income statement and cash flow statement, which are used to assess a company's performance.An organization's or company's "book value" is expressed in detail in a balance sheet, a financial document.The balance sheet, also known as the Statement of Financial Position, acts as a quick snapshot and offers the most complete view of an organization's financial condition. It gives information on the assets (what the company owns) and liabilities of the company (what is owed).To learn more about balance sheet refer to:
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1. how much cash is paid to acquire inventory during year 2021? 2. how much cash is paid for operating expenses (excluding depreciation) during year 2021? hint: examine prepaid expenses and wages payable.
To determine the cash paid to suppliers for purchases related to inventory, cost of goods sold (COGS) and accounts payable (AP) from the income statement and balance sheet, respectively, are adjusted for inventory movements.
What is an Operating Expense?Operating expenses are costs incurred by a business as a result of its ongoing operations. Rent, equipment, inventory prices, marketing, payroll, insurance, step charges, & money set aside for R&D are all examples of operating expenses, often known as OPEX. Operating expenses, also known as selling, general, or administrative charges, are what it costs to run a business (SG&A). There are several of them, including rent & utilities, sale & accounting, advertising and marketing and management & administrative salaries.
Why are operating expenses important?Operating costs are important because they may be used to assess how well a company manages its costs and inventory. It highlights the level of expenses a company must incur in order to achieve its main goal, which is to generate revenue. Examples of naturally recurring expenses incurred to operate a business are administrative, selling, or general expenses.
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what insurance protects against liability for harm the insured may cause to others as a result of product failure or accidents?
Product liability insurance protects against liability for harm the insured may cause to others as a result of product failure or accidents.
What is insurance?Insurance is a contract between two parties, in which one party agrees to compensate the other party in the event of an unexpected and unforeseen event or loss. Insurance provides financial protection against potential losses, including death, illness, injury, damage to property, and other financial losses. It helps protect individuals, families, and businesses from financial losses due to unexpected events. Insurance is a risk management tool used to protect against potential losses, and it can also provide peace of mind and security. Insurance companies offer a wide variety of insurance policies including health insurance, life insurance, car insurance, homeowners insurance, and more. Insurance policies are typically tailored to the individual or business needs of the insured.
Premiums are paid by the insured to the insurance company in exchange for coverage. In the event of a loss, the insurance company pays the insured or the beneficiary of the policy. Insurance helps to spread the risk of losses among a large group of people, making it easier to absorb the financial burden of an unexpected loss.
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camila purchased a house for $89,000, spent $56,000 upgrading it, and recently had it appraised at $212,900. the house is being rented to a family for $1,200 per month, the maintenance expenses average $200 per month, and the property taxes are $4,800 per year. if she sells the house she will incur $20,000 in expenses. she is considering converting the house into professional office space. what opportunity cost, if any, should she assign to this property if she has been renting it for the past two years? multiple choice $178,500 $120,000 $185,000 $192,900 $232,900
If she has renting it for the previous two years, the opportunity cost she assigns to this property is $192,900.
What does maintenance mean?1.: the act of keeping someone or something in good shape, such as a: an act of keeping equipment or property in excellent condition by making repairs, resolving problems, etc. Years of poor maintenance have damaged the building. the cost of routine car maintenance.
Briefing:Current value = $212,900
Selling expense = $20,000
Opportunity cost is calculated as Current Value - Selling Cost.
Opportunity cost = $212,900 - $20,000
Opportunity cost = $192,900
If Sue chose to turn this home into a business, she would forfeit a $192,900 opportunity cost.
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thirty percent of the cfa candidates have a degree in economics. what is the popbability that none of them have a degree in econmics?
The probability that none of them have a degree in economics is 0.657.
We need to calculate
P (X > = 1)
= 1 - P(X =0)
= 1 - (1-0.30)^3
= 0.657
Hence, Option C is Correct
The complete question is:
Thirty percent of the CFA candidates have a degree in economics. A random sample of three CFA candidates is selected. What is the probability that at least one of them has a degree in economics?
1. 0.300
2. 0.343
3. 0.657
4. 0.900
Candidate for Level I CFA
You are regarded as a candidate for the CFA Level I if you are presently preparing for the Level I test. You may do this in a number of different ways on your resume. One strategy is to identify as a Level I candidate for the CFA.
The Excel’s function BINOM.DIST can be used.
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the owner knows that one of the reasons people do not return to his store is because of the slow service. how would a swot analysis classify the slow service at dina plumbing supplies?
Don knows that one of the reasons people do not return to his electronics store is because of the slow service. This is an example of the organization's Weaknesses.
Horrific customer support is when a purchaser feels their expectancies have been not met. consistent with our tendencies report, the top indicators of poor customer service consist of long wait times, an automated gadget that makes it tough to reach a human agent, and having to repeat information more than one time.
The five major causes of poor customer service include hiring the incorrect humans, loss of training, employee burnout, a false impression of client expectancies, and absence of worker engagement.
The maximum apparent one is not resolving a patron request or ignoring it. other customer support ache points consist of lengthy waits, poor employee understanding, lack of etiquette and manners.
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Complete question:
Don knows that one of the reasons people do not return to his electronics store is because of the slow service. This is an example of the organization's ________.
1. intelligence
2. threats
3. opportunities
4. strengths
5. Weaknesses
bartering is a technique used by advertisers to recapture shoppers who abandoned a web site without making a purchase. t or f
Advertisers utilize bartering as a strategy to re-engage website visitors who left without buying anything. Smart cards can store a user's financial information among other things.
What does it mean to barter?
to transact by exchanging one good or service for another, as in trading one good or service for another. Farmers trading their crops for supplies. negotiated with the proprietor of the store. To trade or exchange through bartering or as though by bartering is a transitive verb.
What kind of exchange would you barter?
A different form of commerce called barter involves exchanging goods and services directly for one another rather than via the use of money. For instance, a farmer might trade a pair of shoes for a bushel of
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Maxine and her friend Alice share a love of listening to music from England. They spend
plenty of sleepovers listening to their favorite bands and are always sharing new songs or
artists with each other.
One day, Alice excitedly tells Maxine her dad bought her tickets to a huge music festival in
England where some of their favorite bands will play. Plus, she has a ticket for Maxine, and
Alice's dad said he'll cover half of Maxine's airfare. The other half is only $412. Maxine feels
like this is a once-in-a-lifetime opportunity. Should Maxine use her emergency fund to take this super rare opportunity? Explain your reasoning.
Based on the given information Maxine should not use her emergency fund to take this super rare opportunity as it is intended to use in an unforeseen situation.
What is an emergency fund?
An emergency fund is said to be savings that an individual intended do in order to meet challenges that are not predictable and unforeseen for them.
An emergency fund shouldn't be used for a planned vacation or other predictable expenses; rather, it should only be used in the event of an unexpected event. You don't have to deprive yourself of small comforts in life.
In the given case, the music concert is not an unforeseen event is a planned vacation so the emergency fund should not be utilized.
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barry and mary have accumulated over $4.4 million during their 50 years of marriage. they have two children and five grandchildren. how much money can they gift to their children in 2020 without any gift tax liability
The amount, Barry and Mary can give to their children in 2020 without paying the gift tax is $60,000
How to calculate Tax-free gifts?In 2020, you can give gifts up to $15,000 with no tax or reporting requirements.
Tax-free gifts = $15,000 x number of children x number of spouses giving gifts
= $15,000 x 2 x 2
= $60,000
What is the annual gift tax deduction?Annual gift tax deduction include: 2013-2017 ($14,000). 2018-2021 ($15,000). 2022 ($16,000). 2023 ($17,000).
Each year, each person could give another person up to US$15,000 (2020). This could be US$30,000 per year per child from parents without paying taxes or filing a Lifetime Gift Tax Exempt form.
What does the gift tax do?Gift tax applies to all types of gifts. You make a gift when you transfer property (including money), or the use or income of property, without expecting a return of at least equal value.
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steve and craig have been shipwrecked on a deserted island in the south pacific. their economic activity consists of either gathering pineapples or fishing. we know steve can catch four fish in one hour or harvest two baskets of pineapples. in the same time craig can reel in two fish or harvest two baskets of pineapples. if they each spend four hours a day fishing and four hours a day harvesting pineapples, how many of each will steve produce? how many will craig produce? what will their total production be?
Craig will generate 8 fish daily and 8 carriers of pineapples, bringing the combined production to 24 fish and 16 baskets per day. He will provide 16 fish daily and 8 receptacles of pineapples.
What are some economic examples?The social science of economy focuses on the analysis of resource scarcity. It examines variables that have an influence on how products and services are produced, distributed, and received in an economy. It investigates how people, organizations, and governments distribute limited resources.
Briefing:Steve grows eight baskets of pineapples and four fish (four fish per hour) in four hours (4 hours x 2 baskets per hour). Craig makes eight fish (four hours at two fish each) and eight baskets of pineapples each day (4 hours x 2 baskets per hour). A total of 24 fish as well as 16 bags of pineapples are produced each day.
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lisa, age 45, needed some cash so she withdrew $57,500 from her roth ira. at the time of the distribution, the balance in the roth ira was $200,000. lisa established the roth ira 10 years ago. over the years, she has contributed $21,500 to her account. what amount of the distribution is taxable and subject to early distribution penalty (if any)?.
amount of the distribution is taxable and subject to early distribution penalty is $0
Which of the following statements describes a defined benefit pension plan?The contribution rate is variable, but the retirement benefit is known in advance.
What best describes a defined contribution plan?A defined contribution plan, on the other hand, does not promise a specific amount of benefits at retirement. In these plans, the employee or the employer (or both) contribute to the employee's individual account under the plan, sometimes at a set rate, such as 5 percent of earnings annually.
Which of the following statements characterizes defined benefit plans?Which statement characterizes defined benefit plan? * Defined benefit plans are comparatively simple in construction and raise few accounting issues for employers. Retirement benefits are based on the plan's benefit formula
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ron is searching for another job where his skills will be best used. lucy is looking for a job where she can make more money to help put her children through college. what is ron's employment status and what is lucy's?
Ron is searching for another job where his skills will be best used. lucy is looking for a job . Both Ron and Lucy are frictionally unemployed.
About Frictional unemployment:
Frictional unemployment is a form of unemployment that reflects the gap between voluntarily leaving one job and finding another. Therefore, it is sometimes called search unemployment, but it also includes the employment gap when moving from one job to another. Smooth unemployment is not necessarily a bad thing.
Frictional unemployment is spontaneous, so it can even be a sign of a healthy economy. This means employees are looking for new jobs and new careers.
Causes of frictional unemployment:Employees take time off to care for loved ones. An employee left an unsatisfactory position in search of a new job. Employees have the financial means to take time off from full-time work. People quit their jobs to pursue higher education.
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calculate the time value of the call with the call premium of $9.06, cureent stock price of $26.72, exercise price of $49.91 (answer to 2 decimal places in dollars, so 2.52 for $2.52).
The Time value of the call with call premium of $9.06 - ($26.72 - $49.91) is $2.52
How to calculate the time value of the call with the call premium? The time value of a call option is the difference between the option's premium and its intrinsic value. The intrinsic value of a call option is the difference between the underlying asset's price and the strike price.To calculate the time value of a call option, use the following formula:Time Value of Call Option = Call Premium - (Underlying Asset Price - Strike Price)For example, if the underlying asset price is $50, the strike price is $45, and the call premium is $3.50, then the time value of the call option is $3.50 - ($50 - $45) = $0.50.In conclusion, the time value of a call option is the difference between the option's premium and its intrinsic value. The time value of the call option can be calculated by subtracting the underlying asset price from the strike price and then subtracting the result from the call premium.To learn more about time value refer to:
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Jenny invests $20,000 in an account earning 4. 5% interest, compounded annually. Cam invests $20,000 in an account earning 6. 5% interest, compounded annually. Given that no additional deposits are made, compare the balances of the two accounts after 5 years. (round to the nearest dollar).
The conclusion is that C) Cam has $2,478 more in his account than Jenny.
How to calculate the compound interest?Compound interest is given by:
A=P(1 + r / 100)^n
Amount Jenny earned after 5 years will be:
A=20000(1 + 4.5 / 100)^5
A=$24,923.64
Amount Cam earned:
A=20000(1 + 6.5/100)^5
A=$27,401.73
Comparing the two earnings we get:
27401.73 - 24923.64
=$2,478.09
We conclude that Cam had $2478 more money in the account than Jenny
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Complete question
Jenny invests $20,000 in an account earning 4.5% interest, compounded annually. Cam invests $20,000 in an account earning 6.5% interest, compounded annually. Given that no additional deposits are made, compare the balances of the two accounts after 5 years. (round to the nearest dollar)
A) Cam has $2,082 more in his account than Jenny.
B) Jenny has $2,082 more in her account than Cam.
C) Cam has $2,478 more in his account than Jenny.
D) Jenny has $2,478 more in her account than Cam
leads that meet or exceed screening criteria established by the salesperson or the sales organization are called what?
Finding qualified prospective customers—often referred to as prospects—is a key component of strategic prospecting. When we state a candidate is qualified, we indicate that they have satisfied or beyond the screening requirements.
How do screening techniques work?
A screening technique is a procedure that, with the fewest steps and the least amount of sample modification, extracts, isolates, and identifies a molecule or collection of components in a sample. A screening technique is essentially a straightforward measurement.
What use does screening serve?
Before any symptoms or signs arise, doctors use screens, which are physical examinations, to check for illnesses and other problems. Screenings help to find problems early on, perhaps when they are easier to treat. Getting the necessary screenings is one of the most important things..
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you are offered a job at xyz corp. a friend emails you an article indicating the company has been funding questionable research that may be causing irreparable damage to a specific ecosystem. you notice in the code of ethics that you will be required to sign a non-disclosure agreement and a statement saying if you leave for any reason, you will be barred from working for a similar company for one year. do you take the job, why or why not?
A friend emails you an article indicating the company has been funding questionable research that may be causing irreparable damage to a specific ecosystem.
What is ecosystem?An ecosystem is a geographic area where plants, animals, and other organisms, as well as weather and landscape, work together to form a bubble of life. Ecosystems contain biotic or living, parts, as well as abiotic factors, or nonliving parts. Biotic factors include plants, animals, and other organisms. Abiotic factors include rocks, temperature, and humidity.Every factor in an ecosystem depends on every other factor, either directly or indirectly. A change in the temperature of an ecosystem will often affect what plants will grow there, for instance. Animals that depend on plants for food and shelter will have to adapt to the changes, move to another ecosystem, or perish.Ecosystems can be very large or very small. Tide pools, the ponds left by the ocean as the tide goes out, are complete, tiny ecosystems.
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monopolists are able to set the price for their good. nevertheless, monopolists face a tradeoff in raising price because a higher price.T/F
A monopolist is free to set prices or output quantities, but not both because he faces a downward-sloping demand curve. He can't have a high price and a high sales quantity: if he has a high price, people will buy less. (True)
What is Monopoly?An industry is defined as a group of companies that produce the same good. A monopoly is a market with a single supplier.
Monopoly = A single company in an industry with no close substitutes.
A monopolist is a person or business that has a monopoly. "production by a monopolist is cheapest". A monopolist refers to an individual, company or business that leads and controls the market of a specific product or service.
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if an insurance carrier agrees to pay 75% of the cost of service and requests the patient pay the remaining 25%. this is what kind of expense?
This expense falls under the category of coinsurance, depending on the given question.
An insurance carrier is what?It is a business that markets and completes insurance contracts. At some time, you will deal with an insurance carrier, whether you are looking for health insurance, renter's insurance, or life insurance. When you file any claims, they'll give you your policy and carry out the terms of the agreement.
What does an insurance company v / s insurance carrier?The company that offers an insurance plan to a consumer is an insurance company, which is often referred to as an insurance carrier. The insurance company is responsible for the underwriting of the policy, collecting the customer's monthly premium payments, and disbursing funds for any valid claims.
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companies value-to-book and market-to-book ratios may differ due to accounting reasons. an example of an accounting reason that would create a difference is:
Due to accounting considerations, a company's value-to-book and market-to-book ratios may vary.
Briefing:-Investments in successful research and development initiatives that are expensed in accordance with conservative accounting principles are an example of an accounting cause that would make a difference.
Between book value and market value, what is the difference?The net value of a company's assets as shown on its balance sheet is known as book value, and it generally corresponds to the total sum that all shareholders would get in the event of a liquidation of the business. Market value, also known as market capitalization, is a measure of a company's value based on the value of all its outstanding shares on the market.
Which is more significant, book value or market value?The balance sheet is used to determine book value and the share price to determine market value. A stock may be undervalued if book value exceeds market value. If the book value is lower, the stock may be overpriced. When making investment selections, it is best to combine book value with market value.
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on january 1, forward company issues bonds that have a $22,000 par value, mature in 4 years, and pay 8% interest per year. interest payments are paid to bondholders semiannually on june 30 and december 31. how much interest does forward company pay to bondholders every six months if the bonds are sold at par?
Th interest that Forward company would pay bondholders every six months is $880.
What is the interest that would be paid every six months?A bond is a debt instrument that is used by firms to raise the capital that is needed for business activities. People who purchase bonds are known as bondholders.
Bondholders receive interest at regular predetermined time intervals. Interest is the compensation that is received by the bondholders for giving the borrower their funds. The interest received is a function of the interest rate and the par value of the bond. At the maturity of the bond, the bondholder is paid back the par value of the bond.
Interest = (interest rate / 2) x par value
Interest = (8% / 2) x 22,000
Interest = 4% x 22,000
Interest = 0.04 x 22,000
Interest = $880
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What is change management in an organisation and why is it so important?
Answer:
Explanation:
Change management is the process of planning, implementing and monitoring changes in an organization. It's important because it helps ensure that changes are implemented smoothly and without issue.
define the term structural unemployment and distinguish it from frictional and demand-deficient unemployment. why might structural unemployment fall w
The business cycle is not only factor contributing to structural unemployment. Over past thirty years, United States has lost hundreds of thousands of well-paying manufacturing jobs as result of production shifting to countries like China with lower cost of living.
What is structural unemployment?Structural unemployment, a form of involuntary unemployment, results from a mismatch between the capabilities that employees in the economy can provide and those that employers seek in employees. Cyclical unemployment and frictional unemployment are the other two types of unemployment that economists have identified. One of these categories is structural unemployment. Because it necessitates either migration or retraining, structural unemployment can be challenging to overcome. Contrary to structural unemployment, which can be caused by short-term changes in demand from different industries, cyclical unemployment is caused by short-term variations in the overall labor market. Structural unemployment is frequently caused by people's inability to change industries, but it can also happen within sectors as technology changes the nature of work in a given field.
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how is a jingle different from a slogan
Answer:
A jingle is a short tune or phrase that is used to advertise a product or service. It is usually catchy, memorable and includes the product’s name or message. A slogan is a short, memorable phrase that is associated with a product or service. It is used to create an image in the public’s mind of what the product or service is about and is designed to create an emotional connection with the customer.
Explanation:
Answer:
Slogans are often shorter than jingles and do not have a melody.
Explanation:
What were jingles and slogans used for?
Jingles are an element of branding – Just as a brand's logo or tagline are a way to identify a brand with your eyes and ears, jingles are a uniquely identifiable audio clip that draws on consumers' hearing senses to identify your brand.
how do automatic stabilizers respond when output is above potential output? government spending falls and tax payments rise to help keep the economic expansion in check. rises and tax payments fall to help move the economy out of recession. rises and tax payments fall to help keep the economic expansion in check. falls and tax payments rise to help move the economy out of recession.
Automatic stabilizers respond when production exceeds potential production To assist rein in the economic expansion, government spending declines and tax revenues rise.
What impact do automatic stabilizers have?People's reactions to recessions are tempered by automatic stabilizers, which also help them survive if they lose their employment or their businesses suffer. As they increase aggregate demand when it lags, they also play a crucial macroeconomic function in reducing the length and severity of downturns. Without the direct involvement of policymakers, automatic stabilizers counteract swings in economic activity. Without any changes to the tax code or other legislation, when incomes are high, tax liabilities increase and a person is less likely to qualify for government assistance. A byproduct of earlier regulation was the development of automatic stabilizers. As long as no new laws are passed after they are in existence, they are effective. For instance, unemployment insurance has a self-correcting mechanism.
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jet, inc., has net sales of $712,478 and accounts receivable of $167,435. what are the firm's accounts receivable turnover and days' sales outstanding? round your accounts receivable
The firm's accounts receivables turnover is 4.26 times. The firm's day's sales outstanding is 85.7 days.
What is a receivables turnover?
By analyzing how long it takes to collect the outstanding debt over the course of the accounting period, the accounts receivable turnover ratio, also known as receivables turnover, is used in business accounting to quantify how well businesses are managing the credit that they extend to their customers. Calculations for the accounts receivable turnover ratio will be very different among industries. Larger businesses may also be more willing to extend credit terms since they are less dependent on credit sales. Companies should aim for a ratio of at least 1.0 to ensure they collect the whole amount of average accounts receivable at least once during a period. In general, greater accounts receivable turnover ratio is advantageous.
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which economic principle does the quote most directly support and which does it most directly contradict?
In a command economy, also known as a planned economy, the government decides which goods and services to produce.
What are Command and mixed economy ?how they are produced and distributed, and how much they cost. The central planner is the government.
The two economic systems are command and mixed economies. The government controls the system in a command economy. A mixed economy is run partly by the government and partly by the free market, which is an economic system with no government intervention and is primarily governed by the law of supply and demand.
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