A market economy promotes free competition among market participants. Notable benefits of a market economy are increased efficiency, production, and innovation.
About market economyA market economy is an economic system that determines decisions regarding investment, production, and distribution based on the relationship between demand and supply which determines the prices of goods and services. The main characteristic of a market economy is the making of investment decisions or the allocation of goods of producers through the capital market and finance.
In a market economy, economic problems are fully handled by the market. Market control is determined by the price set and the method chosen by producers and consumers in the process of production and consumption. Initially, the market economic system was implemented by most of the countries with liberal views, especially the United States of America. At present, most countries in the world are starting to abandon market economics and choose other economic systems.
The market economic system has started to be used again since the 1990s. The reason is the process of globalization in Asia and Latin America which are developing countries. Markets in developing countries began to experience the unification of international markets and economies.
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What is economic system and its importance?.
The economic system is important as it provides regulatory structure that governs components of production and distribution.
An economic system is a regulatory structure that governs several components of production and distribution, such as: labor, land, capital, or other resources.
Several types of economic system are:
Traditional economic system: In this system, each member of a society has a distinct duty in a traditional economic system that contributes to the overall progress of the society.Command economic system; In this system, the government has an important role to play in directing and intervening in corporate processes that deliver crucial goods (or services) to the community.Market economic system: In this system, companies and individuals make self-interested decisions in allocating and distributing resources, what to produce, and to whom the goods will be sold to. Governments often have minimal influence over how companies operate and earn income, although they can regulate aspects such as fair trade, and honest corporate practices.Learn more about economic system here:
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the texas state board of education has minimal control over the way that controversial issues are taught in texas public schools. True or False
The statement "the texas state board of education has minimal control over the way that controversial issues are taught in texas public schools." is true. The Texas State Board of Education (SBOE) has minimal control over the way that controversial issues are taught in Texas public schools.
The SBOE sets curriculum standards and guidelines for Texas public schools, but individual schools and districts have significant autonomy in determining how to teach certain subjects, including controversial issues. The SBOE does not dictate the specific curriculum or materials that should be used in the classroom, that is the responsibility of the local school district.
Additionally, the Texas State Board of Education has a reputation of having a strong influence on the curriculum choices, with a conservative majority that can influence the way controversial issues are taught, such as science and social studies, but it does not have the power to dictate the specific lesson plan or methodology used in the classroom.
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which organizational resource is the focus of the behavioral management perspective?
Human organizational resource is the focus of the behavioral management perspective.
Management takes special interest in the employees to make and feel them like part of organizations, in organizational behavior also the human and group behavior is examine or analyze in the organization as it directly influence the performance of employees through motivation, leadership and the communication, in this concern two perspective of human behavior are examined such as internal perspective which examine the individual thought, feelings, values and beliefs which affect there performance while the external perspective consider effects of external events and the environmental factor on the individual's performance, in this behavioral management perspective concerned to the ways through which an organization manage the productivity of workers by understanding employees motivation which is based on there expectations, need and interest, and group dynamics.
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According to the ama definition of marketing, who benefits from marketing activities?
Marketing activities benefit customers, stakeholders, and the wider public.
Marketing is a powerful tool for businesses of all sizes. By engaging in marketing activities, companies can reach more customers, increase brand awareness, and boost sales.
But there's more to it than just that; the definition of marketing from the American Marketing Association (AMA) states that it is the “activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large”.
This means that marketing activities also benefit customers, stakeholders, and the wider public, making it a win-win situation for everyone involved.
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list and describe some advantages of centrally planned economies
A command economy provides advantages such as speed, little to no unemployment, theoretical equality, and a focus on the common good rather than profits.
Do they employ a plan?
The word "plan" is in the past tense and is called "planned." It suggests preparing, arranging, or organizing something. "Planed" is the past tense of the verb "plane." Another interpretation is "soared or glided like an airplane." To "plane a surface" is another possible meaning of the expression.
Alternatives include taking initiative and making plans in advance. There is some degree of planning and intent. according to a plan, prepared, or completed. "the estimated costs for new equipment"
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Comes in the form of wages, interest, rent, profit, and even from government programs called?
The satisfaction of consuming things or services serves as the best justification for usefulness. Utility is the feeling of enjoyment one has after consuming products and services.
What does the word "consume" mean?
devoured; eating up. transitive verb: to entirely eliminate, demolish Several structures were destroyed by fire. Squander is a wasteful use of money.
What is an illustration of consumption
to use (fuel, time, resources, etc) (fuel, time, resources, etc.) Less electricity is used by the new lights. She's trying to consume less and live more simply. The hunt occupied [=took up] most of our time.
Consumers develop habits based on a variety of goods and services, including their preferred lunch spots, how they shop at businesses, and the brands of laundry detergent they choose. creating and preserving consumer.
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What percentage of wealth belonged to the wealthiest 1 percent of us citizens in 2010 about 53 percent about 35 percent about 11 percent about 42 perce?.
About 53 percent of the wealth belonged to the US citizens in 2010.
Over the past few decades, wealth inequality in the US has considerably increased. There are several ways to calculate the person percentage.
Wealth inequality in the United States refers as the unequal distribution of assets among the population.
Wealth inequality, or the unequal distribution of wealth, frequently coexists with income inequality.
The unequal distribution of income among a population is known as income inequality. The higher the income disparity is ,the less evenly distributed the income is.
This disparity can be seen in how almost 53 percent of the wealth belonged to the US citizens in 2010.
Populations can be segmented in a variety of ways to demonstrate different degrees and manifestations of income inequality, such as inequality in income based on race or gender.
However it shall be noted that in many cases, the valuations of any homes, cars, personal property, enterprises, savings, and investments, as well as any connected obligations, are regarded as part of one's wealth
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Which method is better for economic analysis?
What are the 3 questions of economic?.
the 3 questions of economic are:
what to produce how to produce it and for whom to produce itAbout economic questionThe three basic economic questions are what to produce, how to produce it and for whom to produce it. The economic system is a procedure that will be applied to coordinate people's behavior. This system will regulate the behavior of producers, consumers, banks, governments and other communities when carrying out various economic activities.
Economic activities such as production, consumption, investment and distribution processes will be managed in an integrated manner. The aim is to form an orderly, intact and dynamic unit. So that chaos in the economic world can be avoided.
The economic system is needed by a country because this system has the main function of driving the production process. Another function of this system is to create a certain mechanism so that the process of distribution of services and goods can take place properly.
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Which factor could influence an employer to reduce the number of workers at his business? an economic downturn better education in workers the opening of a new location high demand for the company's goods.
An employer might decide to cut the number of employees at his company as a result of the economic downturn. When an economic downturn occurs, there is often decreased demand for goods and services, leading to a decrease in profits.
What is an economic downturn ?
An economic downturn is a period of time in which there is a significant reduction in economic activity. This can be observed through decreases in gross domestic product (GDP), investment, consumer spending, employment, business activity, and other economic indicators. During an economic downturn, individuals and businesses experience a decrease in income, causing them to reduce their spending and investments, leading to further decreases in economic activity. Governments often respond to an economic downturn by introducing fiscal and monetary policies designed to stimulate the economy, such as cutting taxes, increasing government spending, and reducing the interest rate.
So, An economic downturn could influence an employer to reduce the number of workers at his business.
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____ is the federal income tax withheld what you get back
Withholding tax is the federal income tax withheld what you get back.
The word withholding tax refers to the money deducted from an employee's gross wages and paid directly to the government by the employer. Tax withholding applies to the great majority of persons who work in the United States.
The amount withheld is a credit against the employee's taxable income for the year. Nonresident aliens are also liable to withholding taxes on earned income as well as other income such as interest and dividends from securities owned by nonresident aliens in the United States.
Tax withholding allows the United States government to keep its pay-as-you-go (or pay-as-you-earn) income tax system. This entails taxing individuals at the point of income generation rather than attempting to collect income tax after earnings are collected.
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The ratio of the age of three peron A, B, C are given a A : B = 1 : 2 and B : C = 1 1/2 : 1. Find A : C. If the age of C i 18 year find the age of A and B
The age of A is 6 years and B is 12 years and ratio of A:C is 1:3
Given that the ratio of A's age to B's age is 1:2, and the ratio of B's age to C's age is 3:2, we can find the ratio of A's age to C's age by finding a common ratio between A and C.
Let's assume that B's age is x years.
Then, A's age is x * 1/2 = x/2 years, and C's age is x * 3/2 = 3x/2 years.
The ratio of A's age to C's age can be calculated as follows:
A : C = x/2 : 3x/2 = 1 : 3
Since C's age is 18 years, we can find the value of x:
x = [tex]2* \frac{18}{3}[/tex]
= [tex]2*6[/tex]
= 12
So, A's age is [tex]\frac{x}{2}[/tex] = [tex]\frac{12}{2}[/tex] = 6 years, and
B's age is x = 12 years.
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In your buine plan, you note that invetor can expect to gain 110 percent of their invetment back after three year. The time frame here provide your:
Group of anwer choice
turnover. Point-of-ale. Rate of return. Return on interet
The time frame mentioned in the statement "110 percent of their investment back after three years" refers to the rate of return on the investment. Thus the correct answer is the Rate of return.
The rate of return measures the gain or loss on an investment over a certain period of time, in this case, three years.
It is expressed as a percentage of the original investment. A rate of return of 110 percent means that the investor will receive a return of 110 percent of their original investment after three years. This information is useful for investors to evaluate the potential profitability of an investment and to compare the return on different investment options.
It is also an indicator of the overall performance and success of a business, as a high rate of return suggests that the company is generating strong returns for its investors.
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Which one of the following is included in current assets?A. Accounts ReceivableB. AutomobilesC. Common StockD. Taxes Payable
Account receivable is included in current assets. So the correct options is A.
In economic and accounting, a current asset generally can be defined as any asset which can reasonably be expected to be exhausted, sold, or also consumed, through the normal operations of a business. That asset in the current account are expected within the current fiscal year or operating cycle or financial year. There are several example of current assets, such as Cash, Cash Equivalents, Accounts Receivable, Marketable Securities, Stock or Inventory, Prepaid Expenses, and also Other Liquid Assets.
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A carpenter intalling cabinet ue thin piece of material called him to fill gap. The carpenter ue four him to fill a gap that a 1. 5 centimeter wide. The width of three of the him are 0. 75 centimeter, 0. 125 centimeter, 0. 1 centimeter. What i the width of the fourth him
The width of the fourth washer used by carpenters is 0.525 centimeters.
Addition
The process of combining two or more numbers is called addition. The four main properties of addition are commutativity, associativity, distributivity, and additive identity.
given that;
The joiner uses four shims and he fills the 1.5 cm gap. The three disc widths are 0.75 cm, 0.125 cm and 0.1 cm.
Now let x be the width of his 4th washer that the carpenter uses.
So we can formulate
x + 0.75 + 0.125 + 0.1 = 1.5
x + 0.975 = 1.5
x = 1.5 - 0.975
x = 0.525 cm
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Which of the economic system has been the most successful in the world till now?
Answer:
Explanation:
capitalism, also called free market economy or free enterprise economy, economic system, dominant in the Western world since the breakup of feudalism, in which most means of production are privately owned and production is guided and income distributed largely through the operation of markets.
Answer:
Which of the economic system has been the most successful in the world till now?
Capitalism
What is an example of a capital resource in economics?.
Explanation:
Capital resources include money to start a new business, tools, buildings, machinery, and any other goods people make to produce goods and provide services.
Which of the following activities is common for a documentation program?
A. Preparation of medical supplies and first aid
B. Monitoring of emergency response activities
C. Evaluating engineering control methods
D. Storage, maintenance, and training on SDS
An activities that is common for a documentation program is storage, maintenance, and training on SDS. The Option D is correct.
What does documentation program means?A program or software document is any written text, illustrations, or video that describes a software or program to its users. A user can be anyone, from a programmer to a system analyst to an end user. Multiple documents for different users may be created at various stages of development. Indeed, software documentation is an important part of the overall software development process.
Because different teams develop different modules of the software in modular programming, documentation becomes even more important. Good and detailed documentation will make it easier for anyone other than the development team to understand a module.
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How private property rights and marketplace competition are different in market economies and command economies?.
In market economies individuals are allowed to own property whereas in command economies this is not guaranteed. By being able to own private property rights individuals in market economies can own and start businesses.
A market economy is an economic system in which choices about investment, production, and distribution to consumers are governed by price signals generated by supply and demand factors. The existence of factor markets, which play a prominent role in the allocation of capital and inputs of production, is a key feature of a market economy.
Market economies range from minimally regulated free-market and laissez-faire systems, in which the government's role is limited to providing public goods and services and protecting private ownership, to interventionist forms, in which the government actively intervenes to correct market failures and promote social welfare.
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According to the authors of Machine, Platform, Crowd, if you had an effective algorithmic model and a pool of human experts, which would lead to a superior decision making outcome? Assume that the algorithmic model and the pool of experts have access to the same data.
a. The judgment of the human experts acting alone
b. Combining the judgment of human experts with the algorithmic model
c. The algorithmic model acting alone
The correct option is B,Combining the judgment of human experts with the algorithmic model. This is because it will lead to would lead to a superior decision-making outcome, as compared to either the judgment of human experts acting alone or the algorithmic model acting alone.
This is because, while an algorithmic model can dissect vast quantities of data and identify patterns that may be delicate for humans to discern, it can also suffer from impulses in its training data. On the other hand, mortal experts bring their own knowledge, experience, and suspicion to the decision- making process.
Which can help to compound the perceptivity generated by the algorithmic model.By combining the strengths of both approaches, the decision- making process can be made more robust, comprehensive, and accurate.
Still it's important to insure that the combination of the algorithmic model and mortal experts is used in an ethical manner, and that the decision- making process is resolvable.
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In order to purchase a home, a family borrows $159,000 at 6. 5% for 30 years. Use the table to find their monthly payment. Round the answer to the nearest cent. A 5-column table with 4 rows titled monthly payments per 1000 dollars of mortgage. Column 1 is labeled interest rate (percent) with entries 5, 5. 5, 6, 2006. 5. Column 2 is labeled 10 years with entries 10. 61, 10. 86, 11. 11, 11. 36. Column 3 is labeled 20 years with entries 6. 60, 6. 88, 7. 17, 7. 46. Column 4 is labeled 30 years with entries 5. 37, 5. 68, 6. 00, 6. 33. Column 5 is labeled 40 years with entries 4. 83, 5. 16, 5. 51, 5. 86. A. $954. 00 c. $1,186. 14 b. $1,006. 47 d. $1,276. 36.
Using the table we know that the monthly payment would be (B) $1,006.
What do we mean by payment?Payment is made when one party (such as a person or business) voluntarily offers money, its equivalent, or other valuables to another in exchange for services rendered, items received, or the satisfaction of a legal obligation.
The payee is the party receiving the money, whereas the payer is typically referred to as the party making the payment.
So, the monthly payment would be:
The aforementioned number displays the interest and monthly payments for a mortgage of $1,000.
Therefore, the interest rate is 6.33 dollars per month for 30 years.
Now that it has been established that you will borrow $159,000, all we have to do is multiply 6.33 by 159 to get the answer, which comes out to $1006.47.
So, choice B would be the appropriate response.
Therefore, using the table we know that the monthly payment would be (B) $1,006.
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which hr function includes job orientation, teaching skills, and professional growth?
The Human Resources department is responsible for a variety of functions that help to ensure the success of a company.
These include job orientation, teaching skills, and professional growth. Job orientation involves introducing new employees to their job duties, company culture, and expectations.
Teaching skills includes providing training and development opportunities that help employees stay up-to-date on the latest trends and best practices.
Finally, professional growth helps employees progress and become better versions of themselves. All of these functions are essential for the success of any company.
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Which taxes are progressive and which are regressive?
A personal assessment can point a person in the direction of a particular career cluster. What best describes a career cluster?
a group of careers that start with the same letter
careers located in the same building
careers available at a specific company
a group of related careers
Career clusters are collections of similar job categories. They provide you with a simple approach to investigate several job types under a single broad category. Hence option D is correct .
What is cluster career ?Career clusters are collections of similar job categories. They provide you with a simple approach to investigate several job types under a single broad category. Start with one of the clusters, such as construction or health care, to understand what it entails, current trends, and the various vgit provides.
Here are a few examples of career clusters: Arts, Audio/Video Technology, and Communication; Law, Public Safety, Corrections, and Security; Agriculture, Food, and Natural Resources; and Health Science. All of these names should be fairly self-explanatory.
Agriculture commodities and resources, such as food, fibre, wood products, natural resources, horticulture, and other plant and animal goods/resources, are produced, processed, marketed, distributed, funded, and developed.
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What is one of the arguments in favor of gap?.
One argument in favor of income inequality and wealth gap is that it forces people to be more innovative and bring in new methods of doing jobs.
Being able to earn more than others motivates people to put in more effort, innovate, and strive to generate more and better things. Without stronger rewards for productive work, there will be far less wealth, innovation, and productivity.
The latter lose motivation to be productive if those who do not work or do not work hard receive the same or equivalent rewards as those who do work hard, research, and devote a lot of time and money to produce.
Everyone will end up working far less and being less motivated to develop as a result. An example of such a situation can bee seen in the former Soviet Union and is presently causing the economies of communist nations like North Korea, Cuba, and Venezuela to stagnate.
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A basic concept in economics is that all resources are
O scarce.
• allocated.
valuable.
O renewable.
A basic concept in economics is that all resources are scarce. Thus, option a. is the correct answer.
Explain about the basic concept about the economics.
Every person's life includes doing economics on a regular basis in addition to studying it. It serves as a means of balancing the inputs and outputs of money. Whatever it is, one should prepare before the month or count at the end of the month or year, whether it is a small family, a large family, a small commercial enterprise, or a giant organisation. Economics seeks to strike a balance between the unending demands and the finite resources.
After saying this, we'll start talking about the topic of "economics." The pupils who are just beginning their studies in commerce in class XI will find this subject extremely interesting. In essence
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Answer:
Option A scarce
Explanation:
Rock musician donny west is paid 15% on his tour video online sales. Last year fans downloaded his songs 991,000 times, and he also sold 550,000 videos. The songs are downloaded for $1. 09 each and the videos were downloaded for $9 each.
Rock musician donny West received $1245000 in royalties last year.
Cost of 1 CD = $5, Cost of 1000000 CD, Cost of 1 video = $6,Cost of 550000 videos, Now Total sales = 5000000+3300000 = 8300000, the amount received = 15% of 8300000= $1245000.
What is sales?A sale is a deal that involves exchanging products or services for a specific sum of money. In other terms, a sale is any action that involves giving the buyer possession of a thing or commodity in return for money. Sales, as used in general commercial operations, refer to any transactions where money or value is transferred for the right to own a good or access to a service. Sales in an accounting context refers to a company's revenue from the selling of goods or services (net sales).
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How automation plays an important role in developing countries?.
Automation plays an important role in developing countries in many different ways such that in increase employment or create new jobs, create high income.
The automation is defined as in a developing country can be beneficial to plant's productivity, trade and even employment performance. It results that the consumers spend more that leads to create new jobs.
The increase in automation in manufacturing leads to low income countries will not achieve in the rapid growth by the shifting workers from the agriculture into the factory jobs.
The automation have the power to improve the society in terms of reduces the cost and prices of products or services and makes the saving raise.
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Analyzing Current Fiscal Policy Fiscal policy
is the government’s use of government spending and taxes to influence the economy. For this task, you will choose one tool of fiscal policy—either government spending or taxes—and complete the activities below.
Part A Which tool did you choose?
Part B Do you think this tool should be increased or decreased to help the economy?
Part C Using an Internet search engine, find a website or an article that shares your opinion and copy the URL in the space below. Keep in mind that it might take you some time to find a good article, so don’t automatically take the first one you find.
Part D List three main points from the source you found that explain the author’s reasoning.
Part E Based on what you have read, what bias might the author bring to his or her opinion?
Part F Using an Internet search engine, find a website or an article that expresses the opposite to your opinion and copy the URL in the space below. Keep in mind that it might take you some time to find a good article, so don’t automatically take the first one you find.
Part G List three main points from the source you found that explain the author’s reasoning.
Part H Based on what you have read, what bias might the author bring to his or her opinion?
Through the collection of data by exploratory research, we found the following answers on the analysis of the current fiscal policy:
A. The chosen tool of fiscal policy was taxes.
B. To help the economy, taxes must be reduced, encouraging industrial activity in the country.
C. The chosen opinion piece was "How the U.S. Government Amassed $31 Trillion in Debt" written by Jim Tankersley and available on the NY Times website.
D. The three central points that explain the author's reasoning are the US debt, the tax cut and the economic crisis.
E. The bias that the author can bring to his opinion are the economic projections made by economists, which may not actually characterize reality.
F. You should look for an article with an opinion contrary to this one by searching for articles in which the authors have a more political and partisan view on the guilt of the American debt.
G. To list the three main points of the author's contrary reasoning, you must follow what was done in letter D, and find the main key points of the article.
H. The author's biases therefore may be based on his own political opinion and for or against a political party.
What is fiscal policy?It is the taking of government decisions capable of controlling the economy directly or indirectly, through government spending and taxes.
Therefore, fiscal policy is capable of influencing a country's supply and demand, and such decisions are capable of generating jobs, investment such as debt and recessions.
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What benefits might citizens of a Centrally Planned economy derive from a move toward a marked based system?
Citizens in a Centrally Planned Economy benefit from a shift toward a marked-based system. Higher economic growth, Increased access to products and services, More freedom and choice.
1. Higher economic growth: Transitioning to a market-based economy promotes competitiveness and efficiency, which can lead to increased economic growth.
2. Increased access to products and services: As the economy shifts toward a market-based system, residents will have more access to a broader range of goods and services, including imported commodities.
3. More freedom and choice: In a market-based economy, individuals have greater flexibility to pick whatever products and services they wish to buy, as well as more freedom to engage in a variety of economic activities.
4. Improved entrepreneurial incentives: A market-based economy may give incentives for entrepreneurs to innovate and produce new goods and services, resulting in increased economic growth and development.
5. More effective resource allocation: A market-based system supports efficient resource allocation since prices represent the real worth of commodities and services in the economy. This has the potential to boost economic efficiency.
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