Describe how a traditional or a command system would make employment and productions decisions compared to a
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 62% (8 reviews)
In a market system each person decides what job he or she does The market system al...View the full answer
Answered By
OTIENO OBADO
I have a vast experience in teaching, mentoring and tutoring. I handle student concerns diligently and my academic background is undeniably aesthetic
4.30+
3+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
1. Compared to a pollution tax, a uniform-abatement policy is _________ (more/less) efficient because it does not exploit differences in ________across firms. 2. The command part of a...
-
LearnRite.com offers e-commerce service for children's edutainment products and services. The word edutainment is used to describe software that combines educational and entertainment components....
-
You recently graduated from college, and your job search led you to East Coast Yachts. Because you felt the companys business was seaworthy, you accepted a job offer. The first day on the job, while...
-
Which of the following statements is true for real gases? Choose all that apply. 1. As attractive forces between molecules increase, deviations from ideal behavior become more apparent at relatively...
-
Wi-Fi, Inc., has the following selected transactions during the year. 1. Issues $20 million in bonds. 2. Purchases equipment for $80,000. 3. Pays a $20,000 account payable. 4. Collects a $15,000...
-
Woode Corporation issued \(\$ 400,000,7 \%, 20\)-year bonds on January 1, 2025, for \(\$ 360,727\). This price resulted in an effective-interest rate of \(8 \%\) on the bonds. Interest is payable...
-
What is the main regulatory condition of Basel I? What are the standard criticisms of Basel I?
-
1. List 10 mistakes that Mike made with respect to customer relations and management of his business. 2. For each business error, identify why it was a mistake. For example, poor customer relations,...
-
Consider a 3-year forward contract for an investment asset that provides no income. The spot price for the investment asset is $40, and the prevailing risk-free rate is 6%. What is the forward price?...
-
Suppose 150 shoppers at an upscale mall are interviewed and one of the questions asked is the household income. Study the Minitab histogram of the following data and discuss what can be learned about...
-
We know that all real-world economies are mixed. However, is it always true that capitalist-dominated nations, as opposed to socialist-dominated nations, enjoy a higher average standard of living?
-
Why might the leader find a market system inconceivable? Is it possible for economic activities not based on self-interest to take place in a market economy?
-
The following selected transactions were taken from the books of Chandra Company for 2010. 1. On February 1, 2010, borrowed $60,000 cash from the local bank. The note had a 6 percent interest rate...
-
In front of the university campus in Diepenbeek, there is a bus stop at which there leaves every 20 minutes a bus to Hasselt. More, specifically, a bus leaves at the hour, 20 min past the hour or 40...
-
A block (12 kg) is released from the top of the ramp . The friction force on the block is 23 N. What is the speed of the block at the bottom of the ramp?
-
Compose an email with link to book now for an online travel agency.
-
Candace's Candies, Inc. produces gummy bears. The company purchases raw materials, stores them in a warehouse, and then runs them through two processes: production and packaging. During September,...
-
56 s +1.6s +64 The transfer function of a 2nd-order system is: G(s)=- Calculate the following: 1) DC gain |G(0)| (3 points) 2) undamped natural frequency (3 points) 3) magnitude response in dB at the...
-
Kershaw Electric Ltd. sold $6 million of 10%, 10-year bonds on January 1, 2024. The bonds were dated January 1, 2024, and pay interest on January 1. The bonds were sold at 98. Instructions a. Prepare...
-
When is the indirect pattern appropriate, and what are the benefits of using it?
-
A monopoly: a. Faces the market demand curve that is downward sloping. b. Has a marginal revenue curve that slopes downward and lies below its demand curve. c. Will maximize profits by producing an...
-
One of the necessary conditions for price discrimination to occur is that: a. Buyers in different markets have different elasticities of demand. b. The demand curve is upward sloping. c. Buyers must...
-
Why does a monopolist produce less and charge a higher price compared to a competitive market?
-
On January 1, 2023, Bertrand, Incorporated, paid $86,900 for a 40 percent interest in Chestnut Corporation's common stock. This investee had assets with a book value of $229,500 and liabilities of...
-
Landen Corporation uses a job-order costing system. At the beginning of the year, the company made the following estimates: Direct labor-hours required to support estimated production Machine-hours...
-
Explain the concept of gene-environment interactions, and how these interactions influence the expression of complex traits and the risk of developing multifactorial diseases ?
Study smarter with the SolutionInn App