What do we call an economy that is both partly command and partly market?
a. it is still a command economy if the government controls any part of it.
b. it is still called a market economy if it has any free markets.
c. it is most properly called a mixed economy.
d. there is no such thing, because all economies are completely one or the other.

At the end of the fiscal year, apha airlines has an outstanding non-cancellable purchase commitment for the purchase of 1 million gallons of jet fuel at a price of $4.10 per gallon for delivery during the coming summer. the company prices its inventory at the lower of cost or market. if the market price for jet fuel at the end of the year is $4.50, how would this situation be reflected in the annual financial statements?