2. based on past experience as well as a review of the current accounts receivable detail, the credit department has determined that the following collectability estimates are reasonable and should be used to adjust the allowance for doubtful accounts at 12/31/17: invoice classification estimated % by month of sale uncollectible 12/2017 1% 11/2017 5% 10/2017 10% prior to 10/2017 60%

Brian has just finished college. he wants to set up a small business to make and sell fireworks. he registers his company and acquires a license from the government. he finds that most of his competitors are selling fireworks at an extremely low price. he would like to make more money, so he decides to innovate and develop better fireworks. he sells his fireworks at a higher price, and they are a huge hit with the customers. after a few years, he earns enough profit to set up a bigger fireworks factory that complies with the government’s health and safety regulations. he even starts exporting fireworks overseas. which type of economy does this scenario describe?