A strict definition of capitalism is a society where capital is privately owned, and workers paid wages by private firms. Essentially it is a society with minimal government intervention and resources are distributed according to the outcome of free markets.
Essential (fair) inequalities:
Profit motive: A basic principle of capitalism is that individuals are motivated by the profit incentive. For example, entrepreneurs undertake a risky venture to set up firms because they hope to make a substantial profit. If there was not this profit incentive, entrepreneurs would not undertake the risk of setting up a firm. Therefore, you can say the potential of reward makes inequality an essential ingredient of capitalism.
You could argue people may have other motivations for setting up a business than just higher incomes, but most would agree higher income is an important consideration – if not overriding motive.
Work Incentive: Inequality is also important to motivate workers. If every worker received the same wage regardless of skill and effort, there would be no incentive to learn new skills and work hard at the job. A firm in a capitalist society can pay successful workers a higher wage to reflect their higher productivity. This will lead to wage inequality, but without it it would be hard to motivate workers.
Not necessary (unfair) inequalities:
Monopoly Power: The above types of inequality may seem ‘fair’ or justified. If you work hard, you get to benefit from your enterprise. However, capitalism can also lead to inequality which may be seen as unfair. For example, a firm may develop monopoly power. Then it is in a position to charge consumers artificially high prices and deter entry. If firms have monopsony power, they can get away with paying a wage much lower than the productivity of the worker. Workers have no choice but to work for a very low wage. Therefore, capitalists with access to private property can ‘exploit’ their monopoly power to make a much higher profit than other people in society.
Inheritance: Another aspect of capitalism is that private property can be passed on from one generation to another. Therefore those who inherit capital can enjoy high income even without any effort. They have access to best private education and jobs. This creates inequality of opportunity as well as inequality of opportunity.
These types of inequality mean that there isn’t a level playing field; some in society get an unfair advantage, there isn’t equality of opportunity.
Note: I have written this answer because this is what they teach us in economics. But I am a strong supporter of capitalism.
In one week, Mohammed can knit 5 sweaters or bake 240 cookies. In one week, Aisha can knit 15 sweaters or bake 480 cookies. Which of the following is correct? a. Mohammed has an absolute and a comparative advantage in both tasks. b. Mohammed has an absolute advantage in both tasks and a comparative advantage in knitting sweaters. c. Mohammed has an absolute advantage in both tasks and a comparative advantage in baking cookies. d. Aisha has an absolute advantage in both tasks and a comparative advantage in knitting sweaters. e. Aisha has an absolute and a comparative advantage in both tasks.
Answer:
d. Aisha has an absolute advantage in both tasks and a comparative advantage in knitting sweaters.
Explanation:
Comparative advantage in economics is the ability of an individual or country to produce a specific good or service at a lower opportunity cost better than another individual or country.
The comparative advantage gives a country a stronger sales margin than their competitors as they are able to sell their specific products or render their peculiar services at a lower opportunity cost.
In 1817, David Ricardo who is an english political economist talked about the law of comparative advantage in his book “On the Principles of Political Economy and Taxation."
Also, the principle of comparative advantage asserts that countries can become better off by specializing in what they do best.
This simply means that, any country applying the principle of comparative advantage, would enjoy an increase in output and consequently, a boost in their Gross Domestic Products (GDP).
An absolute advantage can be defined as the ability of an individual such as a producer to produce a good or provide a service in larger (greater) quantity for the same amount of money or the same quantity at a lesser cost or time. This ultimately implies that, an absolute advantage is the superior capability of an individual over another using the same resources.
Hence, Aisha has an absolute advantage in both tasks (superior capability) and a comparative advantage in knitting sweaters because she can knit 10 more sweaters than Mohammed using the same resources or time.
Answer:
D. Aisha has an absolute advantage in both tasks and a comparative advantage in knitting sweaters.
Explanation:
Hope this helps
Dirk suffered a heart attack and was rushed to the hospital where heart surgery was performed. His total bill for medical services was $50,000. Dirk has a major medical policy with 80-20 coinsurance, a $1,000 calendar-year deductible, and a $9,000 out-of-pocket limit. The out-of-pocket limit applies to coinsurance only. Assuming this hospitalization was the first medical care that Dirk received during the year and that all of the hospital services were eligible for coverage under the policy, how much of the $50,000 bill will the insurer pay
Answer:
2000
Explanation:
Net initial investment includes ________. Group of answer choices cash outflow to purchase new equipment, depreciation on new equipment, and after-tax cash inflow from disposal of the old equipment cash outflow to purchase new equipment, cash outflow for working capital, and after-tax cash inflow from disposal of the old equipment depreciation on new equipment, cash outflow for working capital, and after-tax cash inflow from disposal of the old equipment cash outflow to purchase new equipment, cash outflow for working capital, and depreciation on new equipment
Answer:
The correct answer is the following option: Cash outflow to purchase new equipment, cash outflow for working capital and after-tax cash inflow from disposal of the old equipment.
Explanation:
To begin with. the term known as "Net initial investment" refers to a concept in the field of business, finances and accounting that represents the total amount of money that the investors a company or a project put it together in order to start the business. It is a very important matter of the capital budgeting use due to the fact that involves the cash for new equipment and new working capital as well as the after-tax cash inflow from disposal of the old equipment. Moreover, the correct apreciation and calculation of this concept involves a major contribution to the final returns to the shareholders, so that puts more importance in the term.
Which pathways in the Transportation and Logistics career cluster typically have high rates of illness and injury?
O Transportation Systems/Infrastructure Planning, Management, and Regulation, Transportation Operations, and
Sales and Service
O Health, Safety, and Environmental Management: Warehousing and Distribution Center Operations, and Logistics
Planning and Management
O Sales and service, Logistics Planning and Management, and Facility and Mobile Equipment Maintenance
Transportation Operations, Facility and Mobile Equipment Maintenance, and Warehousing and Distribution Center
Operations
Answer:
D
Explanation:
Answer:
D
Explanation:
The following transactions have been journalized and posted to the proper accounts: 1. Mark Call invested $7,000 cash in his new design services business. 2. The business pre-paid the first month's rent of $700 cash. 3. The business purchased equipment by paying $2,000 cash and issuing a note payable for $4,500. 4. The business purchased supplies for $850 cash. 5. The business billed a client for $4,000 of design services completed. 6. The business received $3,000 cash for the completed services. What is the balance in Cash for this design service business
Answer:
$6,450
Explanation:
Calculation to determine the balance in Cash for this design service business
Using this formula
Cash balance=Cash Amount invested+Cash Received-Rent- Equipment purchased-Supplies
Let plug in the formula
Cash balance=$7,000+$3,000-$700-$2,000-$850
Cash balance=$6,450
Therefore the balance in Cash for this design service business is $6,450
If the natural rate of unemployment was 5 percent, the current unemployment rate was 6 percent, and potential GDP was $4,000 billion, then according to Okun's law the economy would have sacrificed
Answer:
$80 billion
Explanation:
Okun law equation: GDP gap = Actual GDP * ((Unemployment rate - Natural rate)/100)*2)
GDP gap = $4,000 * ((6-5)/100*2)
GDP gap = $4,000 * 0.02
GDP gap = $80 billion
Therefore, $80 billion in an output level thus, would be what the economy would have sacrificed.
When Shelly hired the housecleaning service, she asked them to use her hypoallergenic cleaning supplies. Instead the workers used their own supplies and Shelly had to lose a day from work because of her allergic reaction to the smell of the cleaners. When Shelly looked at the service guarantee that the workers had left, she found that she could get a reimbursement for all of her out-of-pocket expenses if she had a notarized letter from her doctor describing her condition and her reaction, an affidavit from the workers that they had used the wrong cleaners and another notarized statement that she would not have become ill if the workers had used the right cleaners. This service guarantee is ineffective because it is NOT:
Answer: Easy to invoke and collect
Explanation:
To make claims on services and get paid can be a stressful journey sometimes. As most organization would require you provide much evidence for the claims you are making. What makes it more stressful is the number of organizations involved to make the claims a success, this is why most times they are not easy to invoke and reclaim. Most persons would rather bear the loss than go through the process. This is what Shelly has to consider while making her claim.
If the exchange rate for buying Japanese Yen is 12 Yens per Dollar, how many
Yens do you need to buy 200 Dollars for? show working please
Answer:
2,400 Yens
Explanation:
exchange rate for buying Japanese Yen is 12 Yens per Dollar
1 dollar : 12 Yens
how many Yens do you need to buy 200 Dollars for?
Let
x = number of Yens needed
200 dollars : x Yens
Equate the ratios to find x
1 dollar : 12 Yens = 200 dollars : x Yens
1/12 = 200/x
Cross product
1 * x = 12 * 200
x = 2,400
x = number of Yens needed = 2,400 Yens
Answer:
2400 yen
Explanation:
smort
Select the correct answer from the drop-down menu. Which type of college credit program does the statement describe? The program is one of the more common ways to get college credi you must take at the end of the course. Reset
Answer:
scholarship
i wanna say its that but
can we see the drop down menu?
Explanation:
Answer:
can we see what's in the drop down menu
But I'm pretty sure its a scholarship
Explanation:
Which of these is not a pathway in the Business Management & Administration cluster?
A.) General Management
B.) Business Information Management
C.)Teaching and Training
Answer:
C.
Explanation:
3. Which is an example of a financial statement?
a. Bank statement
b. Statement of contributions
C. Fixed and variable statement
d. Periodic statement
Answer:
i think the answer is
a.)bank statement
According to David Parker and Alison Mobey's study of project managers: there was a low understanding of the tools and benefits of a structured analysis of project risks. work is oriented toward continuous improvement of existing processes over longer periods of time. most managers focused on the work processes of the operation in order to manage risk. most managers are risk averse and prefer to be optimistic and not consider risks or to avoid taking risks whenever possible. managers are long-term focused and process oriented
Answer:
The answer is "First choice"
Explanation:
According to David Parker and Alison Money's Project Leader study, a systematic risk assessment has already shown a shallow grasp of the tools and benefits. One reason that was found in their phenomenologic analysis of the project leaders by David Parker and Alison Mobey2 is that they've had no understanding of the tools and benefits of formal project risk analysis. The lack of formal instruments for risk management is seen by many as an obstacle to the implementation of a risk management program.
Part 1: Multiple Choice
Instructions
Choose the answer that best fits each statement below.
1. As you begin your budgeting process, a good place to start is to prepare a
a. Budget variance
b. Budget estimate
c. Budget plan
d. Budget contribution
I
2. What type of expense fluctuates month to month?
a. Emergency
b. Fixed
C. Variable
d. Discretionary
3. Which is an example of a financial statement?
a Bank statement
b Statement of contributions
C. Fixed and variable statement
d. Periodic statement
4. What is it called when you put money aside specifically for use in difficult situations?
a Income fund
b. Opportunity fund
c. Fixed expense fund
d. Emergency fund
Answer:
1.)a
2.)b
3.)c
4.)c
I think this could be the answer
what are the two advantages and two disadvantages in breakevean analysis
Answer: See explanation
Explanation:
Break-even analysis tells a business about the number of products which must be sold in order to cover the costs of production.
Advantages of break even analysis include:
1. It enables a business organization to be able to measure the profit and the losses at different stages of the production and sales.
2. It is used to forecast the effect of the changes in the sales prices.
3. It also vital in analyzing the relationship that exist between the fixed cost and the variable costs.
Disadvantages of break even analysis include:
1. It assumes that the sales prices are constant at the levels of output.
2. It also assumes that both the sales and the production are the same.
3. It can be time consuming during its preparation.
multiple choice-- economics
Entrepreneurs do all of the following EXCEPT ...
Come up with new ideas about what, how, when, and where to produce
Own all the other resources
Organize labor, land, and capital
Bear risk from business decisions
Entrepreneurs do all of the following except own all the other resources. Thus, the correct answer is option B.
Who are Entrepreneurs ?An entrepreneur is someone who has an idea and tries to develop a good product or service that others will purchase, together with a business to help them in their endeavour. An entrepreneur is seen as a visionary or an innovator since they take on the majority of the risk and responsibility for their new company.
An individual who starts a new firm, taking on the majority of the risks and reaping the majority of the gains, is known as an entrepreneur. The entrepreneur is frequently viewed as an innovator, a source of fresh concepts for products, services, businesses, and operational methods. An entrepreneur plans for labour, capital, and resources.
Therefore, Own all the other resources is not a role of an entrepreneur.
To learn more about entrepreneur, click here:
https://brainly.com/question/13897585
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Which of the following statement is false? Group of answer choices Financing activities include the obtaining of cash from issuing debt and repaying the amounts borrowed. Statement of cash flows help investors assess the entity’s ability to generate future cash flows. Noncash investing and financing activities should not be included in the body of the statement of cash flows. Interest payment on bonds payable is a cash outflow from financing activities.
Answer:
Interest payment on bonds payable is a cash outflow from financing activities.
Explanation:
The only statement which is false from the list is : Interest payment on bonds payable is a cash outflow from financing activities.
Interest payment on bonds payable is an expense in the income statement used to determine the income for the year. Net Income falls under the Cash flows from Operating Activities.
what is a premiun?
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write any five things to be consider during trimming
Answer:
There are many things to consider when trimming a tree. Before you start trimming your trees, make sure you have the correct tools. The most common tools used to prune trees are pole pruners, pruning shears, and loppers. Always assess your tree’s size, condition, and location. Do this before trimming to ensure you stay safe during the process.
Overgrown trees can really put a damper on your property’s overall appearance and perceived value if they aren’t trimmed. That’s why you should practice trimming your trees on a regular basis so that you can avoid issues with overgrowth in the first place. Before trimming your tree, you need to consider a few critical variables so things will go as smoothly as possible.
There are various tools and equipment you can use to prune trees, depending on their size, health, and other factors. If you have a huge tree that needs to be trimmed, you should contact a professional because they can pose some serious safety risks.
If you’re someone who is interested in trimming their trees but want more information about the process before doing so, you’ve come to the right place. Below, we’re going to provide you with a detailed explanation of how to trim your trees the right way.
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There are many things to consider when trimming a tree. The most common tools used to prune trees are pole pruners, pruning shears, and loppers.
What are the things consider in case of trimming?There are various tools and equipment you can use to prune trees, depending on their size, health, and other factors.
Moreover, if you have a huge tree that needs to be trimmed, you should contact a professional because they can pose some serious safety risks.
If you’re someone who is interested in trimming their trees but want more information about the process before doing so, you’ve come to the right place.
Learn more about trimming, refer to the link:
https://brainly.com/question/24555592
An investor does not wish to attempt to time the market, so she invests $300 each month into the GEMCO Growth Fund. Over the past 5 months, her purchase prices have been $10, $12, $15, $20, and $25. On the basis of this information, if she were to stop investing at this point and sell her shares 2 months from now when the NAV is $15 per share and the public offering price is $15.79, it would be CORRECT to state that her A) average cost per share was $16.40 B) proceeds were $15.79 per share C) cost basis for tax purposes was $14.71 D) realized loss would be $1.40 per share
Answer:
It would be 4(67)+ 56-
Explanation:
hello how are you? you are fine, thats great basically 1+1 =2 but really if you take - out of = you get 1+1-2 which is 0 syawyna what shape is purple narwhal or chainsaw
the answer you are looking for is acrobat
Answer:
Honesty that's kind of true and to answer the narwhal chainsaw question.....it cycles through the rainbow like LED lights in your room
Explanation:
Find the zeroes of the polynomial of 2√3x^2 - 5x + √3
Leron is in high school and is interested in the Logistician career. Which accurately lists the most likely pathway
that Leron will take?
O high school diploma + certification
O high school diploma + associate's degree - licensure
O high school diploma + bachelor's degree
O high school diploma — master's degree internship
Answer:
Leron would have to get a high school diploma and then a bachelors degree. A bachelors degree is required for a entry level position. Hope that helps!
Explanation:
All of the following are assumptions of the resource-based model EXCEPT: a. firms acquire different resources and develop unique capabilities based on how they combine and use resources. b. firms' performances across time are due primarily to their unique resources and capabilities rather than the industry's structural characteristics. c. differences in resources and capabilities are the basis of competitive advantage. d. resources and capabilities are highly mobile across firms.
Answer: d. resources and capabilities are highly mobile across firms.
Explanation:
Resource-based theory posits that valuable resources which are difficult to copy are valuable to the success of an organization. Such resources can further develop the capabilities of a firm. In the resource-based model, skilled employees are key to the success of the organization.
A why assumption of this model is that the differences in resources and capabilities bring about competitive advantage.
It should be noted that option D "resources and capabilities are highly mobile across firms" ain't an assumption and is therefore the answer.
Select the closing entry that RB Auto would make at the end of the accounting period to close their revenue accounts and income statement accounts with credit balances. Multiple Choice debit Sales and credit Income Summary for $15,000. debit Sales $15,000; debit Purchase Returns and Allowances $200 and credit Income Summary for $15,200. debit Sales for $15,000; debit R Holloway, Capital for $13,000 and credit Income Summary for $28,000. debit Income Summary for $15,000 and credit Sales for $15,000.
Answer:
debit Sales $15,000; debit Purchases Returns and Allowances $200 and credit Income Summary for $15,200
Explanation:
Based on the information given the CLOSING ENTRY that RB Auto would make at the end of the accounting period to close their revenue accounts and income statement accounts with credit balances are:
Debit Sales $15,000
Debit Purchases Returns and Allowances $200 Credit Income Summary for $15,200
($15,000+$200)
(To close revenue accounts and income statement accounts)
Jermaine and Kesha are married, file a joint tax return, have AGI of $82,500, and have two children. Devona is beginning her freshman year at State University during fall 2020, and Arethia is beginning her senior year at Northeast University during fall 2020 after having completed her junior year during the spring of that year. Both Devona and Arethia are claimed as dependents on their parents' tax return. Devona's qualifying tuition expenses and fees total $4,000 for the fall semester and Arethia's qualifying tuition expenses and fees total $6,200 for each semester during 2020. Full payment is made for the tuition and related expenses for both children during each semester. The American Opportunity credit available to Jermaine and Kesha for 2020 is: a.$2,500. b.$3,000. c.$5,000. d.$6,000.
Answer:
c.$5,000.
Explanation:
The computation of the amount of credit available is given below:
= Devona + Arethia
= ($2,000 × 100%) + ($2,000 × 25%) + ($2,000 × 100%) + ($2,000 × 25%)
= $2,000 + $500 + $2,000 + $500
= $2,500 + $2,500
= $5,000
hence, the amount of credit available is $5,000
Therefore the correct option is c.
how should a consumer seek remedy once they have experienced unfair financial practices
A trust in the other party to accurately adjust any errors made on their behalf
B Contact the other party one time only as opposed to multiple communications
C Contact local media organization to reveal any wrongs committed by the other party
D Take steps to properly file a dispute and engage an advocate to handle their case
How are consumers responsible for their own security
A They should create simple passwords using birthday and names instead of something more complicated
B They should always use open public networks because they are more secure than private networks
C They must join an identity protection service to protect themselves from identity theft
D They should use and regularly update an antivirus program to protect their personal information
Which statement correctly describes an internet security issues
A Phishing is an illicit software program which unwittingly sends private account information from a user's computer
B Spyware are individuals who attempt to get access to another person's computer to harm it somehow
C A virus is a harmful program that gets loaded onto a user's computer after visiting an infected website
D Hackers are attempts to deceive people into revealing personal information with fraudulent emails and social media requests
Answer: C
Explanation:
You welcome.
What is the concept of a “substitute” in economics?
[tex] {2}^{2} \times \frac{?}{?} [/tex]
Employer payroll taxes are used to fund
O A. educational systems
B. disability programs
O C. national defense
O D. public works
Answer:
B Disability programs
Explanation:
government uses this tax to pay for programs like social security and health programs like disability programs.
Choose one of the leadership styles described and give an example of a character from
a book or film that demonstrates this leadership style. Explain whether or not it is
effective.
Answer:
Autocratic leadership is that type of leadership in which the leader exercises his power in an excessive way, without limits on the part of another type of bureaucratic structure or of his own subordinates, who have practically no participation in the decision-making process. Thus, in these cases the leader makes decisions by his own will and criteria, which can lead to errors of judgment and tyrannical behavior.
A clear example of an autocratic leader in a movie is that of Xerxes, the Persian leader in movie 300, who oppresses his own subordinates to achieve the desired results.
Answer:
Autocratic leadership is that type of leadership in which the leader exercises his power in an excessive way, others have practically no participation in the decision-making process. This is not effective because the leader makes decisions by his own will and criteria, this can lead to errors of judgment, where others could have helped.
Forsyth County charges a 7% sales tax. If you bought a new printer form $3250.00, what is the total cost for the printer?
Answer:
Total cost = $3477.5
Explanation:
Given the following data;
Sales tax = 7%
Cost price = $3250.00
To find the total cost for the printer;
First of all, we would determine the sales tax
Sales tax = 7/100 * 3250
Sales tax = 7 * 32.5
Sales tax = $227.5
Now, we can find the total cost;
Total cost = sales tax + cost price
Total cost = 227.5 + 3250
Total cost = $3477.5