In a market economy, prices are the signals that guide the allocation of scarce resources.

When an interest-bearing note comes due and is uncollectible, the journal entry includes debiting

States that if there is no specific employment contract saying otherwise, the employer or employee may end an employment relationship at any time, regardless of cause. rule of fair treatment due-process policy rule of law employment flexibility employment at will

Which of the following is a competitive benefit experienced by the first mover firm in an industry? a. the first mover will be able to achieve a less steep learning curve. b. the first mover will be able to reduce the switching costs. c. the first mover will not have to patent its products or technology. d. the first mover will be able to reduce costs through economies of scale.