when an economy sets minimum wage laws, which social and economic goal are they trying to achieve?

Unemployment has affected the economy of Pakistan with greater debts on the country's economy.

High unemployment costs the individual, society, and the nation tremendously.

Over 31% of Pakistan's youth are currently unemployed, according to the Pakistan Institute of Development Economics (PIDE). Of this group, 51% of the women and 16% of the men have professional degrees.

A high unemployment rate has a variety of effects on the economy. Unemployment may result in increased payments from the state and federal governments for things like food stamps because unemployed persons tend to spend less and may accumulate more debt.

Present day economic issues in Pakistan include the current account deficit and the budgetary imbalance.

Long-term unemployment may cause skills to deteriorate, thereby starving the economy of potentially valuable talents.

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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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The sum of Amirah, Huixian, and Priya is 1530 toys with in ratio 12:16:17. So, Huixian makes 16/45 x 1530 = 640 toys.

What do you mean by ratio?

Ratio is expressed as a fraction, and it can be used to compare different values or quantities in terms of their sizes. Ratios are used to compare different amounts of a given item, such as the number of apples to oranges in a basket, or the number of cars to buses on the road. Ratios are also used to compare different types of items, such as the number of books to magazines in a library. Ratios can be used to compare items of different sizes, weights, or volumes, allowing us to make comparisons between objects that are difficult to compare directly. Ratios can also be used to compare different types of measurements, such as miles per hour or liters per second.

So, the number of toy Huixian makes is 640.

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Subjects to be done in secondary school to become a real estate agent include:

Classes in business and economics can provide a foundation in financial and economic principles, which can be useful for understanding real estate market trends and analyzing property values.

Courses in mathematics, such as algebra and geometry, can be helpful for understanding and analyzing property measurements, statistics and data.

Understanding history, geography, and culture of a location can be helpful in understanding the market and giving clients the best advice and can be learnt from secondary school.

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Answer:

Explanation:

1.Business Consulting. If you're an expert in your industry and have been working at it for years, you should consider consulting. ...

2.IT Support, Technology Consulting, and Repair. ...

3.Cleaning Services. ...

4.Accounting and Tax Preparation. ...

5.Auto Repair. ...

6.Real Estate.

Answer:

deal directly with people

Explanation:

Answer:

false

Explanation:

Carries a cost in opportunity the phrase "lazy afternoon", 8-hour shift at work, preparing a meal, Out-of-home dining, reading a book you enjoy meeting up with an old acquaintance, possesses no opportunity cost, nothing.

When economists speak of a resource's "opportunity cost," they are referring to the value of the next-highest alternative use of that resource. For instance, if you spend time and money going to the movies, you are not allowed to use that time and money to watch a movie at home or buy something else. The term "opportunity cost" in economics refers to the advantages lost while selecting one alternative over another. In other words, it's the worth of the path not travelled. Opportunity costs are simple to overlook, yet realizing lost chances is essential for more informed business decisions.

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Opportunity cost is not an account-ing concept, and so does not app-ear in the financial reco-rds of an entity. It is strictly a financial analysis con-cept.

Opportunity cost is the profit lo-st when one alter-native is selected over an-other. The con-cept is useful simply as a reminder to exam-ine all reason-able alternatives before making a dec-ision.

For exam-ple, you have $1,000,000 and choose to invest it in a pro-duct line that will gene-rate a return of 5%. If you could have spent the mon-ey on a different invest-ment that would have gene-rated a return of 7%, then the 2% differ-ence between the two alter-natives is the fore-gone opportunity cost of this deci-sion.

Opportunity cost is not an accounting concept, and so does not appear in the financial records of an entity. It is strictly a financial analysis concept. Explain the statement.

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Almost all economists agree that a large federal budget deficit has an adverse effect on the economy.

The federal budget deficit has long been a contentious issue in economic circles, with almost all economists agreeing that a large budget deficit can have a significant negative impact on the economy.

This deficit can be caused by government spending that exceeds tax revenues, resulting in the government borrowing money to make up the difference. This additional borrowing can have several negative effects, including an increase in the national debt, an increase in interest rates, and an increase in inflation.

Additionally, the government may have to reduce spending on programs that are beneficial to its citizens, such as education and healthcare, in order to make up for the deficit. All of these factors can have a damaging effect on the economy and should be avoided.

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Answer:

Has an adverse effect on the economy.

Explanation:

 In surveys of professional economists, many propositions were endorsed by an overwhelming majority of respondents. Included in that list was "A large federal budget deficit has an adverse effect on the economy."

Explanation:

Opportunity cost is calculated by applying the following formula: Opportunity Cost = Return on Most Profitable Investment Choice - Return on Investment Chosen to Pursue.

Answer:

ans is in below:

Explanation:

More broadly, an economics degree helps prepare you for careers that require numerical, analytical and problem solving skills – for example in business planning, marketing, research and management. Economics helps you to think strategically and make decisions to optimise the outcome.

Complete Form W-4 to help your employer withhold the correct federal income tax from your paycheck. Consider completing a new Form W-4 each year and each time your personal or financial circumstances change.

When you get a new job, your employer will ask you to complete Form W-4, the employee's tax withholding certificate. How you fill out this form determines how much tax your employer will deduct from your paycheck. Your employer will send the money deducted from your paycheck to the Internal Revenue Service (IRS) along with your name and social security number for reference.

Withholding tax is deducted against your annual income tax bill, which you calculate when you file your tax return in April. The employee completes the W-4 form to notify the employer of the amount of tax to be withheld from payroll based on filing status, dependents, expected tax credits, and deductions.

Any errors in completing the form may result in tax charges when you file your tax return. The IRS has simplified his form for 2020.

An employee can change her tax withholding at any time by submitting her new W-4 to her employer. Each new employer requires a new her W-4 to be completed.

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The correct option tends to be option A, There are more mixed economies in the world than any other kind.

Mixed economies blend capitalism with socialism. A mixed economic system protects private property and gives capital usage independence, but it also allows government intervention to fulfill social goals.

The neoclassical theory says mixed economies are less effective than pure free markets, but proponents of government involvement claim that free market efficiency requires equal knowledge and rational market players, which cannot be attained in practice.

Mixed economies socialize critical or public goods-producing enterprises. Though some economists have criticized mixed economies, all historical and modern economies are mixed.

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Answer:

the 2nd one convention industry council

Explanation:

Answer: convention industry council

Explanation: The Convention Industry Council (CIC) is a federation that represents individuals and firms involved in the meetings, conventions, and exhibitions industry.

The Convention Industry Council’s 30 member organizations represent more than 98,000 individuals as well as 15,000 firms and properties involved in the meetings, conventions, and exhibitions industry. Formed in 1949 to provide a forum for member organizations seeking to enhance the industry, CIC facilitates the exchange of information and develops programs to promote professionalism within the industry and educates the public on its profound economic impact. In addition to the CMP Program, CIC is also responsible for the APEX (Accepted Practices Exchange) initiative, the Hall of Leaders, and the CIC Economic Impact Study.

A loan is a sum of money borrowed for a predetermined time period with a predetermined repayment plan.

The loan's size, term, and interest rate will all have an impact on how much is repaid. The benefits of having or obtaining a loan are:

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A authority to levy and collect taxes was granted to Congress by the Constitution.

A government's capacity to levy and collect taxes is known as its taxing authority. In addition to being able to levy and collect taxes, imposts, excise taxes, and tonnage fees, Congress also has the authority to borrow money against the government's assets to pay off debts, fund the nation's common defence, and promote overall prosperity. All other forms of governmental action are made feasible by taxes, or more specifically, the money they generate. The power of the purse—the authority to levy taxes and spend public funds—is granted to Congress, and especially the House of Representatives.

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C. IGST (Integrated Goods and Services Tax) is levied on imports of goods and services. IGST is a type of indirect tax that is levied on the inter-state movement of goods and services in India. It is designed to ensure that goods and services are taxed uniformly across the country, regardless of where they are produced or consumed.

When goods are imported into India, they are subject to IGST, which is calculated on the value of the goods plus any applicable customs duty. The IGST paid on imports can be claimed as an input tax credit, which can be used to offset the IGST liability on the taxable supplies of goods and services made by the taxpayer.

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Financial institutions can use this information to provide customers with a more comprehensive portfolio that is tailored to their individual needs. By diversifying a customer's investments, the institution can help them to mitigate risk and achieve higher returns.

What are Financial institutions ?

Financial institutions are businesses that provide financial services and products to their customers. These institutions include banks, credit unions, insurance companies, investment firms, and other related organizations. They are essential for helping individuals and businesses access the financial resources they need. Financial institutions provide services such as deposit accounts, loans, mortgages, investments, and wealth management. They also help people manage their money, save for retirement, and protect their assets from potential risks. By working with financial institutions, customers can better prepare for their financial future and take advantage of opportunities for growth.

So, Financial institutions can use this information to provide customers with a more comprehensive portfolio that is tailored to their individual needs.

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International or interstate trade could not be regulated by the national government. The national government was powerless to prevent states from undermining it by forming their own trade treaties with other countries.

The government is the system or group of individuals in charge of an organized society, frequently a state. The legislative, executive, and judicial branches comprise the government in its broadest sense.

The government functions as both a process for policy development and an organisational tool for policy implementation. Many nations have a constitution that acts as a statement of their governing ideas and philosophy. Although many different types of organisations practise governance.

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incentives. Incentives are at the core of almost all economic theories, rules, and regulations.

The rationale given by economists is that they think incentives are easily taken advantage of. In this case, incentives drew attention to the item's or product's cost. Economic theory holds that pricing of goods and services provide signals to buyers and sellers, and that people respond to incentives.

The underlying tenet of classical economics is that consumption and investment by individuals and businesses will propel economic expansion. Neo-classical economics believe that when people invest in or make purchases in the economy, they do it in a reasonable manner.

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An entrepreneur is a person who combines the other factors of production - land, labor, and capital - to earn a profit.

The presence of these factors for production has a significant purpose.

1. Streamlining the production process

To carry out production activities, business actors need various elements to carry out their activities. With the availability of factors for production, business actors can execute according to plan.

Business actors, of course, must first ensure that the factors for production are available according to plan or not, only then can they run it.

Don't let the availability be half measures or desperate to run operations with makeshift factors. Later the process will be far from optimal.

2. The company can make a profit

With the presence of factors for complete production, it can make the company make a profit.

Companies are usually profit-oriented and to make it happen, maximum effort is needed first. Factors for production include business foundations that must not be ignored to achieve big profits.

Especially when you succeed in making a profit, you can continue with other plans that are no less important. Your business will be more developed than before.

3. Meet consumer needs

The purpose of the presence of other factors for production is to provide excellent service to consumers. Consumers are helped because their needs are provided by producers.

Consumers also do not hesitate to spend money to pay for goods and services that have been provided by producers. Basically consumers can not do their own production.

For this reason, producers need to provide quality goods and services to their consumers. That way, consumers will be willing to make further purchases. It all starts with factors for adequate production.

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Explanation:

For producers, there is an opportunity cost when they produce a good or service. Whatever alternative production they are giving up is their opportunity cost, and it should be considered because they will not be able to sell that other goods or services.

The missing amounts are a) $79,000, b) $22,000, c) $51,000, d) $15,000  and  e) $6,000.

What is  basic accounting?

The theory used in this question is the basic accounting equation which states that Assets = Liabilities + Equity.

This equation can be used to determine the missing amounts in the summaries of Greene's Goods and Solar Enterprises.

Step 1: Start with the beginning of year data for Greene's Goods. We know that the Total Assets = $110,000, Total Liabilities = $85,000 and that the Total Owner's Equity is missing. We can use the basic accounting equation to solve for Total Owner's Equity.

Assets = Liabilities + Equity

110,000 = 85,000 + Equity

Equity = 25,000

Step 2: Now look at the ending of year data for Solar Enterprises. We know that the Total Assets = $180,000, Total Liabilities = $50,000 and that the Total Owner's Equity is missing. We can use the basic accounting equation to solve for Total Owner's Equity.

Assets = Liabilities + Equity

180,000 = 50,000 + Equity

Equity = 130,000

Step 3: Lastly, look at the changes in owner's equity for each proprietorship. For Greene's Goods, we know that Additional Investment = $7,000 and Drawings = $37,000. We can use the basic accounting equation to solve for the missing amount.

Change in Equity = Additional Investment + Drawings

Change in Equity = 7000 + 37000

Change in Equity = $44,000

For Solar Enterprises, we know that Additional Investment

= $25,000 and Drawings = $15,000.

We can use the basic accounting equation to solve for the missing amount.

Change in Equity = Additional Investment + Drawings

Change in Equity = 25000 + 15000

Change in Equity = $40,000

Therefore, the missing amounts are:

a) $79,000

b) $22,000

c) $51,000

d) $15,000

e) $6,000

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The method of assigning costs that results in a very precise cost figure, The specific term for attaching a direct cost with a cost object is trace.

When it comes to assigning costs, precision is key. That’s why a method known as “tracing” is used to attach a direct cost to a cost object.

This method allows for a very precise cost figure to be determined, ensuring that no detail is overlooked.

By using tracing, businesses are able to accurately assign costs, benefitting both the business and its customers.

When it comes to accurately calculating costs, traceability is key. Traceability is the process of assigning costs directly to a cost object, which helps to ensure a precise cost figure.

This method is invaluable for accurately budgeting and forecasting, and helps business owners and managers make informed decisions.

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Option 4 farming is the best example of a perfectly competitive market.

Perfect competition is a market in which there are a large number of buyers and sellers dealing in the same sort of commodity, therefore no particular unit can influence the price of the product.

And the seller must quote the market price, which is usually uniform due to the wide participation of the public. As a result, agriculture is the best example of a perfectly competitive market.

Typically, there is minimal difference between products and pricing from one farmer's market to the next. It makes no difference how the product is cultivated, and it makes even less difference how it is packed or branded.

As a result, even if one of the farms supplying commodities for the market goes out of business, the average price will not change.

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$299,574 should you ask for oil well if you decide to sale it.

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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The United States is one of the countries that can be a good example of a mixed economic system. The other countries that use this system are the China, France, German, Russia and United Kingdom.

In countries with mixed economic systems, the state controlled a portion of the economy while private individuals and businesses run the rest. Simply put, it is the outcome of a combination of market forces and government regulation.

→ It enables communities like the Amish in Pennsylvania. Their traditional economy is preserved by the first amendment. 

1. The protection of private ownership of property.

2. Limits government intervention in business operations to enhance market innovation.

3. The Constitution would promote the common good.

The fifth amendment develops the ability to use aspects of the command economy.

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Globalization has led to increased competition with countries such as China and India.

The term "globalization" refers to the increasing interdependence of the world's economies, cultures, and populations as a result of cross-border trade in goods and services, technology, and flows of investment, people, and information.

Over many years, countries have formed economic alliances to enable these flows. However, the phrase gained currency after the Cold War ended in the early 1990s, as these cooperative agreements defined modern life.

The phrase is used more strictly in this guide to refer to international commerce and some investment flows among advanced economies, with an emphasis on the United States.

Globalization's far-reaching consequences are complex and politically fraught. Globalization, like great technological developments, benefits society as a whole while damaging specific sections.

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