In a command economy, what goods and services are produced, how they are produced, and for whom they are produced are all questions answered by government planning. The government makes economic decisions for the good of society.
What is economic questionThe three basic economic questions are what to produce, how to produce it and for whom to produce it.
The economic system is all the procedures used in coordinating people's behavior including producers, consumers, government, banks and others in carrying out economic activities in terms of production, consumption, distribution or investment in an integrated manner to form a unified whole, orderly and dynamic so as to avoid chaos in economics. In a country the existence of an economic system is very important because it functions as a driving force for the production system.
In addition, the economic system also functions to create a mechanism so that the process of distribution of goods and services runs well. In other words, without a good economic system, economic growth can also be well maintained.
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What is a comparative answer?.
A comparative is the form of adjective or adverb used to compare two things.
Comparative Degree FormAdjective and adverb change form when used as a comparison. In the regular form, the changes in the forms of adjective and adverb follow a certain pattern. On the other hand, in the irregular form, the changes in the form of these words do not follow a certain pattern.
Adjectives and adverbs which consist of one syllable (one syllable) are added with the suffix (ending) –er. Usually there is a double consonant letter at the end of the word in the basic form with a pattern of letters at the end: consonant-vocal-consonant.
Examples of Comparative Adjectives big-bigger fat-fatter hard-harder hot-hotter smart-smarter quick-quicker Examples of Comparative Adverbs fast-faster hard-harder Examples of Comparative Degree Sentences I am Easier to forget a problem than she is. comparative adjective The student is quicker to learn English than her friend. comparative adjective He drove faster than I did.comparative adverb In order to pass the exam, she must study harder than ever. comparative adverbAdjectives that come from the past participle usually use the word more (more) or less (fewer) in front of it.
Example of Comparative Degrees
- bored-more bored
tired-more tired
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What sectors have high and low unemployment?.
Sectors with low unemployment rate are: government sector, mining (including oil and gas), and education sectors. Sectors with high unemployment rate are: leisure and hospitality business, agriculture, and construction business.
The leisure and hospitality business had the highest unemployment rate in the U.S in December 2022, at 5.4 percent. Government employees, on the other hand, had the lowest unemployment rate, at 1.7 percent. The overall industry average was 3.3 percent.
As unemployment varies with the state of the economy, numerous things influence it. Unfortunately, the unemployment rate in the United States is likely to rise as we enter the second half of the decade. From 1992 to 2021, those with a bachelor's degree or higher had the lowest unemployment rate in the United States, which can be linked to the fact that greater levels of education are viewed as more desired in the workforce.
The statistics of the unemployment rate by industry is shown in the attached picture.
Sectors that have high unemployment rate are: Leisure and hospitality, agriculture, and construction sectors, while sectors that have low unemployment rate are: government sector, mining, oil, and gas, and education sectors.
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What is pie diagram in economics?.
A pie diagram is a form of pictorial representation in the form of a circular graph in economics.
A pie chart is a method of displaying data in which a circle is divided into various segments (or pies) each bearing some variable. Each segment is an example of a specific category.
Each segment's area corresponds to the proportion of a circle that each category occupies in the entire collection of data.
By reading the entire pie chart, one can instantly gauge the effect or share of each category.
A pie chart typically displays the constituent components of an entire. It's not uncommon to see a section of the drawing cut off from the rest of the pie to emphasise a crucial detail.
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Explain the nature of marketing planning.
Explain the concept of marketing strategies.
Explain the concept of product mix.
Identify product’s/service’s competitive advantage.
The marketing plan outlines the approach a business will take to advertise its goods to consumers. The overall number pf product lines and distinct goods or services that a business offers is its product mix.
What is a good example of marketing?Marketing describes the actions a business does to encourage the purchase or sale of a good or service. Marketing, selling, and delivering goods to customers or other firms are all included in marketing. Affiliates perform some marketing on behalf of the company.
Why is marketing necessary?Many individuals learn about a specific product thanks to marketing. Your sales will rise if consumers are aware about your product. Many commercial companies find that marketing greatly aids in developing revenue streams. When several business sectors use.
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How is thinking of new business ideas an important part of the entrepreneurial process?
Answer: Thinking of new ideas can improve your business.
Explanation: Due to some studies, a creative mind helps us figure out new ways of doing things. Many say that creativity helps or improves existing products. This can be highly effective for optimizing a business. Of course, we all know that there can be room for improvement, but it has to be the business owner or the entrepreneur to makes the change happens. I hope this helped!
How many cents is a quarter?.
A quarter is equal to 25 cents.
1 cent is equal to one hundredth of dollars, euro, or other currencies.
Hence,
1 cent = 1/100 dollars
100 cents = 100 x 1/100 dollars = 1 dollars.
Cent can also be represented by decimals.
Example:
50 cents = 50 x 1/100 dollars = 0.5 dollars
70 cents = 70 x 1/100 dollars = 0.7 dollars
Another example, to convert a half into cents, find its equivalent fraction with 100 as its denominator.
a half = 1/2
1/2 = 50/100
Hence, a half = 50 cents.
Similarly, to convert a quarter, find its equivalent fraction with 100 as its denominator.
a quarter = 1/4
1/4 = 25/100
Hence, a quarter = 25 cents.
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Fuzzy Monkey Technologies, Inc. , purchased as a short-term investment $80 million of 8% bonds, dated January 1, on January 1, 2021. Management intends to include the investment in a short-term, active trading portfolio. For bonds of similar risk and maturity the market yield was 10%. The price paid for the bonds was $66 million. Interest is received semiannually on June 30 and December 31. Due to changing market conditions, the fair value of the bonds at December 31, 2021, was $70 million. Required: 1. To 3. Prepare the relevant journal entries on the respective dates (record the interest at the effective rate). 4-a. At what amount will Fuzzy Monkey report its investment in the December 31, 2021 balance sheet
1) Debit Investment in Bonds by $80 and credit by Cash by $66.00 and Discount on bond investment by $14.
2)Debit Cash by $3.20 and Discount on bond investment by $0.10, credit Interest revenue by $3.30.
3) Debit Cash by $3.20 and Discount on bond investment by $0.11, credit Interest revenue by $3.31
4a) Investment in the December 31, 2021 balance sheet = $70 million
Journal entries will be as follows:
1. 01-Jan-21 Investment in Bond Dr $80.00
To Cash $66.00
To Discount on bond investment $14.00
(Being investment in bond recorded)
2. 30-Jun-21 Cash Dr ($80 * 8% * 6/12) $3.20
Discount on bond investment Dr $0.10
To Interest revenue ($66*10%*6/12) $3.30
(Being revenue recognition for bond interest and discount amortized)
3 31-Dec-21 Cash Dr ($80 * 8% * 6/12) $3.20
Discount on bond investment Dr $0.11
To Interest revenue ($66.1*10%*6/12) $3.31
(Being revenue recognition for bond interest and discount amortized)
4-a) $70 million is the Investment in the December 31, 2021 balance sheet.
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Which tax is imposed on goods and services while crossing the border of the country?
what types of economic activities do people who live in tropical rainforests engage in?
There are many employment opportunities in the rainforest, including tour guides and environmentalists.
In rainforests, economic activities such as mining, logging, agriculture and construction provide employment opportunities.
Their livelihoods depend on agriculture, fishing, hunting, and gathering of forest products in floodplain areas, which are subject to large seasonal variations due to the annual flood cycle.
In 1992, there were 173 communities in or near the Pacaya Samiria National Reserve, with a total population of about 80,000.
meal:
In the Amazon, natives eat nuts produced in the rainforest. Cash Crops - Rainforests also produce cash crops such as the emergence of wild coffee.
Wild coffee has higher yields and is more disease resistant than the Arabica beans that growers typically use in other parts of the world.
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the internet impacts businesses by providing more information about their.T/F
False , the internet impacts businesses by providing more information about their.
What effects does the Internet have on business?
Businesses may now access a larger market much more quickly and simply thanks to the internet. As a result, new businesses are now able to reach new heights of success more quickly.
This has made it possible for companies to serve customers who are located halfway around the world from one location.
What is the impact of the Internet?
The internet is an international network of interconnected networks that primarily offers wireless interactive communication. T
he public only had access to the internet in the 1990s, despite the fact that it was originally deployed in 1969.
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M. Grove ha tray of paint for tudent in her art cla. Each tray ha 5 color. One of the color i purple. What fraction it the color in 20 tray i purple?
M. Grove has a tray of paint for the student in her art class. Each tray has 5 colors. One of the colors is purple. the fraction of 1/5 is the color in 20 trays of purple.
To calculate the fraction of purple paint in 20 trays, you must first determine how many colors are in each tray. Each tray has 5 colors, so if we multiply 5 by 20, we get 100, which is the total number of colors in 20 trays. Since one of the colors is purple, the fraction of purple paint in 20 trays is 1/5.
To determine the fraction of purple paint in 20 trays, we must first consider the total number of colors in those trays. By multiplying the number of colors in each tray (5) by the number of trays (20), we get 100, which is the total number of colors. Since one of those colors is purple, the fraction of purple paint in 20 trays is 1/5.
To calculate the fraction of purple paint in 20 trays, we must first determine the total number of colors in those trays, which we can do by multiplying the number of colors in each tray (5) by the number of trays (20). This gives us 100, the total number of colors. Since one of those colors is purple, we can use the fraction 1/5 to represent the fraction of purple paint in 20 trays.
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M. Grove has a tray of paint for the student in her art class. Each tray has 5 colors. One of the colors I purple. What fraction is the color in 20 trays of purple?
Lucy recently asked the servers at her restaurant to only give straws to customers who request them. She thinks that about half of the customers will ask for straws but hopes that the rate will be less than half. She randomly selects 100 customers and finds that 43 of them ask for a straw. To determine if these data provide convincing evidence that the proportion of customers who will ask for a straw is less than 50%, 150 trials of a simulation are conducted. Lucy is testing the hypotheses: h0: p = 50% and ha: p < 50%, where p = the true proportion of customers who will ask for a straw. Based on the results of the simulation, the estimated p-value is 0. 733. Using a = 0. 10, what conclusion should lucy reach?.
Lucy should fail to reject H0 because the p-value is > 0.0733. There is no convincing evidence that she has less than 50% of her customers asking for straws.
The P-value is a measure of the strength of evidence against the null hypothesis (H0).
It represents the probability of getting an extreme or more extreme result than the observed one, given that the null hypothesis is true.
In this case, the null hypothesis is that 50% of customers request straws. The alternative hypothesis is that the percentage is less than 50%.
It is not possible to calculate a P-value based on the information provided. To calculate the p-value, know the specific results of 150 simulation trials and how those results compare to the observation that 43 out of 100 customers asked questions with a straw is needed.
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Alana and petra go to a used book sale, where every book is the same price. Alana buys books and petra buys books. They run into their friend angus, who really loves to read, and discover that he has bought books. Angus received a discount, but he still spent more than alana and petra combined. How much does one book cost?.
Once you understand the problem, formulate the equations to determine the unknowns. Let x be the price of the book. Alana & Petra's spending will be the same as Angus' spending.
5x + 4x +5 = 19x - 10
The left 5 is needed because Angus spends his $5 extra. Also, 10 on the right represents a $10 discount. solve the equation,
19x = 9x = 5+10
10x = 15
x = $1.5
So the price of this book is $1.50.
In manufacturing, research, retail, and accounting, a cost is a monetary value that is no longer available because it was used to produce something or provide a service.
In economics, an acquisition cost can be an acquisition cost.
In this case, the amount spent on the acquisition is considered the acquisition cost.
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Complete question:
Alana and petra go to a used book sale, where every book is the same price. Alana buys 5 books and Petra buys 4 books. They run into their friend Angus, who really loves to read, and discover that he has bought 19 books. Angus received a $10 discount, but he still spent $5 more than Alana and Petra combined. How much does one book cost?
a method for managing pollution in which a limit is placed on emissions and businesses or countries can by and sell emissions allowances
A method for managing pollution in which a limit is placed on emissions and businesses or countries can by and sell emissions allowances is Cap and trade .
What does the term "cap and trade" mean?
A "cap" on maximum emissions is imposed under the cap-and-trade system, which reduces the total emissions from a number of emitters.
It is said to as a market-based approach that aims to lower total pollutant emissions and promote corporate investment in fossil fuel substitutes and energy efficiency.
What does "cap and trade system" mean?
A government regulation scheme known as "cap and trade" aims to reduce or "cap" the overall level of certain chemical pollutants, primarily carbon dioxide emissions, that arise from industrial activity.
The argument put up by cap and trade proponents is that it is a preferable option to a carbon tax.
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If an individual has a credit score of 560 and they pay their credit card late once or twice, what might they expect a credit card company to do?(1 point)
If an individual has a credit score of 560 and they pay their credit card late once or twice, the credit card company may score them low credit score.
What is credit score?Credit score can be defined as what help to measure the credit worthiness of a person as it help to determine whether a person will pay his/her loan within a stipulated time or late.
A late payment credit card may tend to have negative impact on the a person based on the fact that it can lead to the credit card company to score the person low which inturn will affect the person creditworthiness.
Therefore the credit card company may score them low credit score.
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personal finance is 20% head knowledge about money. what‘s the other 80%?
The other 80% is managing money.
When it comes to personal finance, it's not just about understanding financial concepts and money management. It's also about having the right attitude and behaviors when it comes to your finances. That's why it's important to understand that personal finance is only 20% head knowledge.
The other 80% is about developing the right mindset and behaviors when it comes to managing money. Having a good attitude and the right actions when it comes to money can help you become financially secure and successful.
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A customer at a store paid $64 for 3 large candles and 4 small candles. At the same store, a second customer paid $4 more than the first customer for 1 large candle and 8 small candles. The price of each large candle is the same, and the price of each small candle is the same.
A customer paid $64 for 3 large candles and 4 small candles. The price of each large candle is $16, and the price of each small candle is $4.
What do you know about candles?
Candles have been a source of light and heat since ancient times. They are made from wax and come in a variety of shapes, sizes and colors. Candles are used for a variety of purposes including religious ceremonies, decoration, aromatherapy, and providing light and warmth. Candles come in many different types, such as beeswax, soy, paraffin, and gel. Beeswax candles tend to burn clean and are the most natural, while paraffin candles contain petroleum-based wax, and soy candles are a renewable resource made from soybeans. Candles also come in a variety of scents, such as lavender, vanilla, and jasmine, and can be used to create a relaxing atmosphere.
So, The price of each large candle is $16, and the price of each small candle is $4.
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Correct Question: A customer at a store paid $64 for 3 large candles and 4 small candles. At the same store, a second customer paid $4 more than the first customer for 1 large candle and 8 small candles. The price of each large candle is the same, and the price of each small candle is the same. What is the price of each large candle and each small candle?
how are limit orders and market orders different?
Limit orders and market orders are different types of orders that can be placed when buying or selling securities, such as stocks, on a stock exchange. Limit orders allow an investor to specify a specific price at which they want to buy or sell a security, while market orders are filled at the best available price at the time the order is placed.
A limit order is an order to buy or sell a security at a specific price or better. For example, if an investor wants to buy a stock at $50 per share, they would place a limit order to buy the stock at $50 or less. If the stock is trading at $48, the limit order would be executed and the investor would pay $48 per share. However, if the stock is trading at $52, the limit order would not be executed.
A market order, on the other hand, is an order to buy or sell a security at the best available price at the time the order is placed. Market orders are executed immediately and are filled at the current market price. For example, if an investor wants to buy a stock and the current market price is $48, a market order to buy the stock would be filled at that price.
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Which one of the following business types is best suited to raising large amounts of capital? A. sole proprietorship B. limited liability company C. corporation D. general partnership E. limited partnership
The accompanying business types are the most ideal for raising a lot of capital C. corporation.
The corporation can raise capital much more effectively contrasted with different types of business possession. The portions of a company are exchanged the securities exchanges. Should the association require more capital, it can give more offers to people in general. The corporation offers the public an opportunity to claim the association in return for value.
In the stock markets, there are no limitations concerning who can purchase shares. Financial backers assess the business execution of an organization to choose if it merits purchasing its stocks. Corporations with a decent history in execution will have no issues in raising extra capital as their portions will be popular.
Hence option (C) is correct.
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Lauren needed to get her computer fixed. She took it to the repair store. The technician at the store worked on the computer for 3. 75 hours and charged her $119 for parts. The total was $400. 25. Write and solve an equation which can be used to determine xx, the cost of the labor per hour.
The labor cost per hour is $75.
The equation looks like this:
3.75x + 119 = 400.25
x will be = 75
Duration time was 3.75 hours.
Parts cost is $119.
Total cost: $400.25
So, the hourly rate is x is $75.
So, when you create the formula, the total number of hours (multiplied by the cost per hour) is added to the cost of the part, and the sum of these two amounts is the total cost.
To solve this problem, we need to subtract the cost of each component from the total cost. This gives the following result:
3.75x = 281.25
Then divide 3.75 by each side as usual.
Hourly labor costs = $75
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in which column of the cash payments journal are the amounts that are posted individually to the accounts payable ledger?
In the Accounts Payable Debit column, the cash payments journal are the amounts that are posted individually to the accounts payable ledger. Accounts Payable Debit column is located in the left side of an account.
In economic, A debit balance that located in a Payable account generally can be defined as the company owes money, while a credit balance indicates that the company is owed money. The normal balance of accounts payable is negative that indicate that he company is owed money. Any outstanding bills that need to be paid shortly is including in the company's accounts payable.
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There are 10 employees in a particular division of a company. Their salaries have a mean of $70,000, a median of $55,000, and a standard deviation &20,000. The largest number on the list is $100,000. By accident, this number is changed to $1,000,000.
The division's employees would earn an average salary of $870,000, and the median wage would be $650,000. To $450,000, the standard deviation would rise.
Descriptive statistics: what are they?
The theory of descriptive statistics is applied in this query. In the area of mathematics known as descriptive statistics, data sets are described, analyzed, and summarized using numerical data.
Metrics of central tendency (mean, median, and mode) and variability (standard deviation) are used.
The mean, median, and standard deviation of the salaries of the 10 workers in a specific department of a company are provided in this question. The biggest number on the list, $100,000, is then accidentally changed to $1,000,000.
The new mean must be calculated by adding the
The new standard deviation is calculated as:
New Standard Deviation = √[ ( ( (10 - 1) * 20,0002 ) + (1000002) ) / 10 ]
= √( ( (9 * 400,000,000) + 1,000,000,000 ) / 10 )
= √450,000,000
= $450,000
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Alice has a charge card from national bank which uses the unpaid balance method of computing finance charges. The periodic rate is 1. 95%. Alice's previous balance is $1485. 23. She made teh minimum payment of 2% of the previous balance. She returned a pair of tennis shoes and a jacket for a credit of $68. 63 and $117. 47. She has new purchases of $49. 50, $65. 32, and $45. 10 for gasoline. She had a restaurant charges of $15. 89, $20. 22, and $52. 54. Her final charge was $156. 32 for auto repairs. Calculate the new balance.
Alice does have a charge card via National Bank that calculates finance charges based on the outstanding balance.The new balance would be $1590.16.
What do you mean by finance charges?
Finance charges are the additional fees charged by a lender for providing a loan or other type of financing to a borrower. Finance charges may include interest, late payment fees, over-the-limit fees, cash advance fees, check processing fees, and annual membership fees. Finance charges are typically set by the lender and may vary depending on the type of loan, the amount of the loan, the borrower's credit score, and the length of the loan. Finance charges are usually added to the balance of the loan and are usually due in full when the loan is paid off.
This is calculated by first subtracting the credit amount of $186.10 (68.63+117.47) from the previous balance of $1485.23. This gives a total of $1299.13. Next, the new purchases of $49.50, $65.32, and $45.10 for gasoline are added to the total, giving a new total of $1459.05. Finally, the restaurant charges of $15.89, $20.22, and $52.54, as well as the final charge of $156.32 for auto repairs are added to the total, giving a final balance of $1590.16.
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a is an amount that you agree to pay an employee regularly for a certain amount of work, regardless of the demand for your product or service.
Regardless of the level of demand for your good or service, you must nonetheless agree to pay a worker a salary on a consistent basis for a certain length of work.
What does a product mean exactly?A business is the term for the object that is being sold. Products can either be physical items or services. Any physical object, a digital image, or a robot might appear like it. Since each item has a price, every commodity has related costs. Market conditions, industry norms, and a certain marketing segment's characteristics mostly determine the potential payment amount.
Which of these four main product categories apply to you?The four categories of products include goods, goods in general, goods, and unconditional items. Depending on customer tastes, product characteristics, and pricing, several divisions have been made.
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What is another name for a free enterprise economy?.
An unrestrained, laissez-faire economy is sometimes referred to as a free enterprise economy.
A free market and capitalist economic philosophy known as laissez-faire opposes involvement from the government. The laissez-faire economics philosophy holds that the government should only get involved in the economy in order to protect the inalienable rights of its people. Let the market decide what it wants to do, in other words. If supply and demand laws are not restrained, they will effectively control how much products and services are produced. All sorts of economic interventionism in business dealings involving private groups of individuals are forbidden under this type of economic organisation.
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As a(n) , it‘s up to you to make choices about what you buy and use.
As a consumer, it‘s up to you to make choices about what you buy and use.
What are consumers?Generally, A consumer is a person or group that uses a product or service. In economic terms, a consumer is someone who buys goods and services for personal use.
Consumer demand drives the economy, as businesses aim to produce and sell products that consumers want to buy.
Consumers also play a role in shaping the market by making purchasing decisions based on factors such as price, quality, and brand.
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CQ
As a(n)_____ , it‘s up to you to make choices about what you buy and use.
The equation, a equal to 1,500 plus quantity 1 plus 0.06 over 2 end quantity all raised to the power of 2 times t, represents the amount of money earned on a compound interest savings account. what does the value 1,500 represent?
The value of 1500 in the given equation, which represents the amount of money earned on a compound interest savings account, is the principal amount.
The given equation given as a word problem can be mathematically expressed as
A = 1500(1+ 0.06/2)^2t
The amount of money A in a compound interest savings account is given by:
A = P(1+ r/n)^nt
Where P is the principal or initially invested amount, r is the annual rate of interest, n is the number of compounded period and t is the time in years.
The principal amount refers to the original sum of money put into an investment and borrowed in a loan. Hence comparing the two equations, the value of 1500 represents the principal amount.
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what economic advantage could travelling to the moon give us?
Travelling to the moon has the potential to provide a wide range of economic benefits such as the moon could be used as a launch pad for deep space exploration, allowing us to access resources that are currently out of reach.
In addition, the moon's unique environment could provide opportunities for new kinds of scientific research, such as exploring the effects of microgravity on the human body.
Finally, the moon could be used as a hub for space tourism, providing a new and exciting experience for thrill-seekers from around the world.
All of these activities could give a boost to the global economy and create jobs in the space industry.
Traveling to the moon could be an incredible economic opportunity for humanity, providing a wealth of resources and opportunities.
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Which business risk is avoidable with proper precautions? a. Machine breakdown b. Economic recession c. Natural calamities d. Change in management.
Machine breakdown is a business risk which is avoidable with proper precautions.
What does a business risk definition look like?Any situation that compromises a company's ability to make profits at the desired levels is considered a risk in the business world. In the long run, risks may also jeopardize a company's sustainability.
What are business risks and how do they differ?Business risk refers to the likelihood that a company will incur losses in addition to gains or lower-than-anticipated profits. Numerous variables, such as sales volume, price per unit, input prices, competition, the state of the economy generally, and governmental laws, all have an impact on business risk.
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How does a high unemployment rate affect the economy economic systems and daily life?.
A high unemployment rate affect the economy, economic systems and daily life in terms of low GDP, bad financial statement and not having good life.
The unemployment rate is defined as the percentage of the labor force or workers who have the ability to do work but not do job or not get hired. The unemployment rate requires identifying who is in the labor force.
The unemployment affect the economic systems regarding the financial statement of the nation or individual citizen who has no job. The unemployed people tend to spend less, may accrue more debt and unemployment may lead to higher payments for state like food stamps.
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