The difference between a market economy and the command economy is the absence of a central regulator in the former.
The two polar opposites in how economic activity is organised are market economies and command economies.
In a market economy, activity happens at chance. It is not governed by a centralised body; rather, the supply and demand for goods and services decide it. Japan, England, and the United States are all instances of market economies.
As an alternative, a command economy is one in which all factors of production are controlled by a centralised government that controls most, if not all, firms. Command economies can be seen in the former Soviet Union, North Korea, and East Germany.
In truth, all economies incorporate a mix of command and market economic concepts.
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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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when it was founded in 2000, what did the initials of the british online fashion retailer asos stand for?
When it was founded in 2000, the initials pf the British online fashion retailer ASOS stand for As Seen On Screen.
ASOS originally stood for As Seen On Screen with a tag line "Buy what you see on film and TV". ASOS headquarters is in Camden Town at Greater London House. In 2013, their main fulfillment center is in Yorkshire. The company is listed on the London Stock Exchange. ASOS is a British online fashion and cosmetic retailer. The website sells over 850 brands as well as its own range of clothes and accessories and ship it on 196 countries across globe.
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What is sustainability Accenture?.
At Accenture, sustainability is our commitment to creating a better world through our work.
We strive to build a future of economic, social and environmental progress that benefits everyone.
We are constantly looking for new and innovative ways to reduce our environmental impact, while still delivering quality services to our clients.
Our approach to sustainability goes beyond traditional environmental initiatives, as we look to create lasting solutions that can have a positive impact on society and our planet. We are also actively engaging with our clients to help them achieve their sustainability goals. We believe that through collaboration and innovation, we can create a better future for everyone.
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What is the example of public sector?.
The public sector includes provision of public goods services such as the military, police departments, infrastructure, public transportation, public education, and health care, as well as those who serve the government itself, such as elected politicians.
The public sector, also known as the state sector, is a sector of the economy that includes both general populace services and public enterprises. Public sectors include the military, police departments, infrastructure, public transportation, public education, and health care, in addition to those that work for the government on its own, such as elected representatives. The public sector may provide assistance that a quasi cannot be denied (for example, street lighting), services that benefit society as a whole instead of just the individual who utilizes the service. Public enterprises, also known as state-owned enterprises, are identity commercial enterprises owned by the government that sell a variety of private goods and services on a commercial basis.
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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:
How does a market economy deal with private property?.
A market economy deal with private property in term of capitalism which often the individual or business to buy the property and control over it.
The market economy according to the economics, in the economic system the efficiency and economic freedom gives to the seller and buyer or individual have the right to what they want to sell and what they want to buy in the marketplace.
The way a market economy deal with private property in term of capitalism. The natural resources and other resources are basically owned by the individual and government. The property which is owned by the individual comes under the private property.
The market economy maintains the private property ownerships by the right to own and use.
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What is the government regulation of business?.
Government regulation of firms uses the 'coercive power' of the state to alter firms' pricing, entry, production, investment, and product choice decisions.
A corporation, abbreviated as co., is a legal entity that represents an association of people, whether physical, legal or a mixture of the two, with a particular goal. The members of the company share a common goal and together achieve stated specific goals.
A society may be formed as a body corporation so that the society itself has limited liability when its members perform or fail to perform their obligations under a publicly stated constitution or established policy. announced. When a business closes, it may need to be liquidated to avoid further legal obligations.
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Why economics is important in real life?.
Economics provides the insights and analytical framework required to understand the way our world operates, from the choices we make in our everyday lives to how businesses or governments achieve their desired objectives. Everyday, people make choices that affect their lives, in big or small ways.
What is economicsEconomy is a large set of interrelated production and consumption activities that help in determining how scarce resources are allocated. The production and consumption of goods and services are used to meet the needs of those who live and operate in the economy, which is also referred to as an economic system.
The economy includes all activities related to the production, consumption and trade of goods and services in an area. The economy applies to everyone from individuals to entities such as companies and governments. The economy of a given region or country is governed by culture, law, history, and geography, among other factors, and evolves out of necessity. For this reason, no two economies are identical.
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What benefits might citizens of a centrally planned economy derive from a move toward a marked based system?
Moving toward a market-based system has some advantages for citizens of a centrally planned economy, including: improved resource utilisation efficiency. less shortages
What are the advantages of a government-run, planned economy?A few benefits include the equitable distribution of wealth, decreased inequality, low unemployment rate, and increased social welfare. Lack of freedom, competition, creativity, and financial rewards for hard labour are all disadvantages.
What advantages does a nation with a planned economy provide for its citizens?Since prices are kept in check, everyone can afford to buy goods and services. Wealth disparity has decreased. Due to carefully planned resource allocation, there is no duplication. Low unemployment rate since everyone is supposed to have a job, according to the government.
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A government subsidy to the producers of a product:
a) reduces product supply.
b) increases product supply.
c) reduces product demand.
d) increases product demand.
A government subsidy to the producers of a product increases product supply.
What is a subsidy from the government?Governments may promote specific industries or economic sectors with payments, tax rebates, or other financial incentives. Subsidies are meant to help or support what is thought to be a crucial component of the national economy or infrastructure.
Subsidies benefit who?A government incentive known as a subsidy is one that increases the availability of specific goods and services by providing money, grants, or tax exemptions to people or businesses. The availability of less expensive goods and commodities is made possible through subsidies.
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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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Why is the net income less than the gross income?.
Net income is the bottom-line profit generated by a business. It is gross income minus all business expenses, which can include the cost of goods sold, and also advertising, rent, utilities, or wages.
Income is the potential for consumption and savings obtained by a firm during a set time period, generally expressed in money. Haig-Simons income, which defines income as consumption + change in net worth and is commonly used in economics, is a highly significant definition of income.
Income in the United States is defined by tax law as the sum of all earnings, salaries, benefits, interest payments, rent, and other kinds of income generated in a calendar year. Discretionary income is sometimes defined as gross income less taxes and other deductions, and it is frequently used to compare taxpayer advantages.
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Which are the fundamental questions that every society must answer Mcq?
Every society must decide what to produce, how to produce it, and for whom to produce it because we live in a world of relatively scarce resources.
And must make careful economic choices about how to use these resources. Economic systems answer three fundamental questions: what will be produced, how will it be produced, and how will the output society produces be distributed? Scarcity – is the fundamental problem facing all societies. It is the condition that results from society not having enough resources to produce all the things that people would like to have. Due to limited resources, scarcity is a fundamental problem in every society.
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T/F Mixed economies can evolve when societies with different kinds of economies interact
Mixed economies can evolve when societies with different kinds of economies interact. This statement is true.
A mixed economic system is one that incorporates elements of both capitalism and socialism.
A mixed economic system protects private property and provides for some economic freedom in the use of capital, but it also permits governments to intervene in economic activities to achieve social goals.
According to neoclassical theory, mixed economies are less efficient than pure free markets, but supporters of government intervention claim that the fundamental prerequisites for efficiency in free markets, such as equal knowledge and rational market players, cannot be met in practice.
Most modern economies are a hybrid of two or more economic systems, with economies falling somewhere along a spectrum.
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what preparatory step may be necessary when devising a strategy or plan of action to exercise?
Wellness is helping, training, and encouraging others to achieve well-being in all areas of life: social, physical, emotional, occupational, intellectual, environmental, and spiritual.
Through awareness, education, and inspiration, people are encouraged to live healthy lifestyles. The National Wellness Institute endorses the Dimensions of Wellness program.
Students can lead wellness programs for individuals and groups. Students learn administrative and business skills to administer health promotion and wellness interventions in this program.
Fitness programs can improve health. Physical activity can reduce chronic illness risk, enhance balance and coordination, help you lose weight, and improve sleep and self-esteem.
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The right way of asking the question is:
What preparatory step may be necessary when devising a strategy or plan of action?
A) Purchasing walking shoes for a fitness class
B) Selecting a behavior to change
C) Rewarding yourself with a movie
D) Determining which events trigger the behavior
Suppose that the local daily demand for iced coffee drinks is given by the demand function: Q=300-25P, where P is the price of an iced coffee drink.
a. Construct this demand curve in black. Place the quantity of iced coffee drinks demanded on the horizontal axis and the price of an iced coffee drink on the vertical axis.
b. Suppose that iced coffee drinks are a normal good, and that consumers’ incomes fall. The demand for iced coffee drinks decreases by 50 units at every price. What is the new demand function (i.e., equation)?
c. Suppose that iced coffee drinks are a normal good, and that consumers’ incomes fall. The demand for iced coffee drinks decreases by 50 units at every price. Construct the new demand function in blue.
a. To construct the demand curve, we can first use the demand function provided, Q=300-25P. To plot this on a graph, we can plug in different values of P to find the corresponding values of Q. For example:
When P = 0, Q = 300-25(0) = 300
When P = 1, Q = 300-25(1) = 275
When P = 2, Q = 300-25(2) = 250
We can plot these points on a graph with Q on the horizontal axis and P on the vertical axis, and connect them to form the demand curve.
b. The new demand function would be Q = 250-25P.
c. To construct the new demand function in blue, we can start with the same process as before, using the new demand function, Q = 250-25P.
For example:
When P = 0, Q = 250-25(0) = 250
When P = 1, Q = 250-25(1) = 225
When P = 2, Q = 250-25(2) = 200
We can plot these points on the same graph as before, but this time use blue color to distinguish it from the previous demand function.
What is the difference between using an action button to play an audio file via 'play sound' and an audio clip set up through the Media Group?
Answer: The action button lets users play the audio file, the sound button will play an audio clip.
Explanation:
The action button lets users play the audio file once it is clicked or has a mouse over action over the assignment button. The sound button will play an audio clip that you have specified in the action settings dialog box.
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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What is the difference between gross income and net income and why is it important to know the difference between the two when you create a budget?.
Explanation:
Gross income represents your wages from your employer before taxes, and other deductions have been taken out. However, net income as an employee is your take-home pay after taxes have been withheld, including taxes for Social Security and Medicare.
Which taxes are progressive and which are regressive?
What does a business typically receive when it issues stock to owners?
When a business issues stock to owners, they typically receive a financial stake in the company and the ability to vote on important decisions.
This means that shareholders are entitled to a portion of the company’s profits and losses, as well as the right to vote on important matters such as the election of directors, changes to the company’s bylaws, and the issuance of dividends.
Additionally, shareholders may also receive certain benefits, such as access to company information and special discounts.
When a business issues stock to owners, they are essentially transferring ownership of a portion of the company. This provides owners with a financial stake in the company, entitling them to a share of the profits and losses.
Owners will also receive voting rights, giving them a say in how the company is managed. Furthermore, shareholders may be eligible to receive dividends if the issuing company has profits.
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if you’re using the high rate method, how do you organize your debts?
When employing the high-rate technique to manage your debt, after completing all of your minimum payments, you should concentrate on paying off the loan with the highest interest rate first.
The "snowball technique" or "avalanche method" entails paying off your obligations in the order of their interest rates, beginning with the loan with the highest interest rate and moving down to the debt with the lowest interest rate. You may reduce your overall interest costs and accelerate your debt repayment by paying off the loan with the highest interest rate first. People who desire to pay off their debt as quickly as possible yet have several loans with various interest rates may find this strategy to be successful.
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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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What is a free enterprise system What country has a free enterprise system?.
The free enterprise system is the economic model of a market economy in which resources, labor, and capital are privately owned and market forces are allowed to determine the prices and production of goods and services. U.S. is an example of free enterprise system.
This system of economics encourages economic freedom, allowing businesses to make their own decisions on pricing, production, and distribution of goods and services without government interference. As a result, businesses are able to pursue their own goals, and competition between companies drives economic growth.
The free enterprise system encourages innovation and rewards risk-taking, providing opportunities for businesses to succeed and benefit the public. Ultimately, this system has the potential to create greater wealth and opportunity for all members of society.
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____is the process through which countries around the world exchange ideas, do business, and trade goods.
Globalization is the process through which countries around the world exchange ideas, do business, and trade goods.
The term "globalisation" refers to the increasing interdependence of the world's economies, civilizations, as well as populations as a result of pass trade of goods and services, new tech, and flows of investor, people, and information. Over many centuries, countries have formed economic alliances to facilitate these movements. However, the term gained currency after Cold War ended in the early nineties, as these co - operative agreements shaped modern life. The term is used more narrowly in this guide to refer to global trade and some capital flow among advanced economies, with a focus on the United States.
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Answer:
Globalization is the answer
Explanation:
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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What is one of the biggest telltale signs of a pyramid scheme?
Pyramid schemes posing as multi-level marketing businesses by claiming to have been in the business of selling goods to customers.
What is a pyramid scheme?In a "pyramid" scheme, participants try to gain money purely by recruiting new members, typically if the recruiter guarantees a high return in a short amount of time.
There is no actual sale of merchandise or service; and. Fresh student recruitment is the main focus.
Instead of offering investments or making sales of goods, a pyramid scheme gathers members by promising income or services in exchange for bringing people into the plan.
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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.
How prices act as incentives to producers?.
Higher prices are an incentive to sell-ers to increase prod-uction to make more goods. But the big-gest incen-tive for sellers is know-ing that wh-en prices rise, their profits will prob-ably rise, too. Some-times when the supply is low, smart sell-ers offer substi-tutes.
Prices send sig-nals and provide incent-ives to buyers and sell-ers. When supply or dem-and changes, market prices adjust, affect-ing incentives. High-er prices for a go-od or service pro-vide incentives for buyers to pur-chase less of that good or ser-vice and for producers to ma-ke or sell more of it.
Pricing is import-ant since it def-ines the value that your product are wo-rth for you to make and for your cus-tomers to use.
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ivan has inherited his mother’s 1963 chevrolet corvette, which he values at $45,000. he decides that he might be willing to sell it, so he posts it on craigslist for $55,000. samantha is interested and willing to pay up to $72,000 for one, so they agree on a price of $55,000 for the car. Would Ivan and Samantha want to voluntarily engage in trade? How much economic surplus is created for both of them as a result of this exchange? What is the total economic surplus?
Based on the provided information, Ivan and Samantha would want to voluntarily engage in trade as it would benefit them. The economic surplus for Ivan and Samantha is $10,000 and $ 17,000 respectively. The total economic surplus is $27,000.
Economic surplus is the gain consumers and producers receive in a particular transaction and is a measure of market wellbeing. Economic surplus, also called community surplus, is a relationship between consumers and producers and is an aggregation of profits acquired by consumers and profits acquired by producers. It is divided into two categories: consumer surplus and producer surplus. When there is a benefit to the consumer, it is called consumer surplus and if there is a benefit to the producers or seller, it is called producer surplus.
The value of the 1963 Chevrolet Corvette is $45,000. He posted the ad for the car for $55,000 and the selling price for the car was $55,000.
The producer surplus is determined by the amount received minus the amount of willing to sell. Hence,
Producer surplus to Ivan = 55000 – 45000 = $10,000
The consumer surplus is determined by the amount willing to pay minus the amount actually paid. Samantha is willing to pay $72,000. Hence,
Consumer surplus to Samantha = 72000 – 55000 = $ 17,000
The total economic surplus is the sum of producer and consumer surplus. Hence.
Total economic surplus = 10000 + 17000 = $27,000.
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