The 5 characteristics of a command economy: Centralized Planning, No Private Ownership, Government Control, Rigid Price System and Low Incentive to Produce
What is command economy?A command economy is an economic system in which the government controls the production and distribution of goods and services. In a command economy, the government makes all economic decisions, including what to produce, how much to produce, and how to distribute the goods and services
1. Centralized Planning: A command economy is based on a central plan that determines what, how, and for whom goods and services will be produced.
2. No Private Ownership: Private ownership of the means of production is not allowed in a command economy. All production is owned by the state.
3. Government Control: The government controls all aspects of the economy, including the allocation of resources, the setting of prices, and the distribution of goods and services.
4. Rigid Price System: Prices are set by the government and are not allowed to be changed by buyers or sellers.
5. Low Incentive to Produce: Without the ability to set prices, there is little incentive for producers to increase output or innovate.
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Every economy must answer each of the following questions except one. Which is the exception?
-Why are these particular goods produced?
-Which goods will be produced?
- Who will actually consume the goods produced?
-Which resources should be used?
In a pure command economy, there is no personal sector, as the central government owns or controls all business.
In a command economy, government officials set countrywide economic priorities, such as how and when to generate economic growth, how to allocate resources, and how to distribute the output.
What are the three most frequent economic systems quizlet?The three fundamental kinds of financial systems are traditional, command, and market. Traditional financial system is based on customs and beliefs.
Command economy has government leaders controlling elements of production. Market authorities has humans making decisions themselves. .
-Why are these particular goods produced?Points on the PPF show all the combinations of two goods that can
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Dawn's bridal boutique is having a sale on evening dresses. The increase in consumer surplus comes from the benefit of the lower prices to Question 43 options: only existing customers who now get lower prices on the gowns they were already planning to purchase. only new customers who enter the market because of the lower prices. both existing customers who now get lower prices on the gowns they were already planning to purchase and new customers who enter the market because of the lower prices. Consumer surplus does not increase; it decreases.
Answer:
both existing customers who now get lower prices on the gowns they were already planning to purchase and new customers who enter the market because of the lower prices.
Explanation:
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.
Consumer surplus = willingness to pay – price of the good
Let assume that the price before the sale and after the sale is $1000 and $800. The willingness to pay of customer A is $1500 and for customer b is $900
consumer surplus of customer A before sale = 1500 - 1000 = 500
consumer surplus of customer A after sale = 1500 - 800 = 700
consumer surplus of customer B before sale = 0
consumer surplus of customer B after sale = 900 - 800 = 100
consumer surplus of both customers increase
What is the difference between a secured and unsecured?
Secured loans require you to put up a valuable item as security in the event that you are unable to pay back the loan, whilst unsecured loans allow you to borrow the full amount.
secured loan definition.Loans that must be secured by some sort of collateral, whether for company or for personal use, are known as secured loans. When making large loans or loans when the credit score is insufficient to qualify for an unsecured loan or when the money is being used to buy a specific asset, a bank or lender may ask for collateral. Due to the reduced risk that secured loans pose to lenders, they may qualify borrowers for cheaper interest rates. However, some varieties of secured loans, such as short-term installment loans and personal loans for people with bad credit,
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According to _____, people measure outcomes such as pay in terms of their inputs.
A. expectancy theory
B. equity theory
C. retributive justice theory
D. progressive justice theory
E. economic theory
Answer:
A is the correct answer I am sorry
Essen Inc. bought 80% of the equity capital of Heidleberg Ltd for 3,240MM. The transaction was funded by 90MM of Essen's balance sheet cash, an issuance of 1,710MM worth of Essen debt and the remainder with Essen equity. What is the consolidated shareholders' equity
3,643.2 MM is the consolidated shareholders equity.
What is a shareholder, exactly?
A person or organization that has contributed funds to an organization throughout exchange for a "share" of ownership is referred to as a shareholder. Basic or preferred interests issued by the firm and held by the shareholder serve as a representation of that ownership.
Are shareholders deemed to be owners?Existing share holders, also abbreviated as shareholders or voters, are allocated to a portion of the company's earnings, remaining assets, and voting rights.
Equity held by all combined shareholders: = Prior shareholders ownership of Essen Inc. + NCI + newly issued shares = 1872 MM + 331.2 MM + 1,440 MM = 3,643.2 MM
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Output Quantity Produced in 2019 Prices in 2019 Quantity Produced in 2020 Prices in 2020 Chocolate 15,000,000 bars $1.00 per bar 15,000,000 bars $1.75 per bar ________ 4. Refer to Table 2. Based on this information, we can conclude that the production of chocolate: A. increased both nominal and real GDP from the previous year. B. increased nominal GDP from the previous year, but real GDP was unaffected. C. increased real GDP from the previous year, but nominal GDP was unaffected. D. decreased nominal GDP from the previous year, but real GDP was unaffected. E. did not change either nominal or real GDP from the previous year. F. decreased both nominal and real GDP from the previous year.
The correct option is 2. The production is the same in both years but the price increased so the real GDP is unaffected by the nominal GDP increase from the previous year.
Gross home product (GDP) is a monetary degree of the market cost of all the final items and services produced and offered (no longer resold) in a particular term by way of nations. due to its complex and subjective nature, this measure is frequently revised before being taken into consideration as a reliable indicator. GDP (nominal) per capita does now not, but, reflects differences in the price of residing and the inflation costs of the nations; therefore, the usage of a basis of GDP per capita at purchasing energy parity (PPP) can be extra useful while evaluating residing requirements among nations, while nominal GDP is more beneficial evaluating national economies at the global market.
Overall GDP can also be damaged down to the contribution of every enterprise or quarter of the financial system. The ratio of GDP to the full populace of the place is the in keeping with capita GDP (also referred to as the suggest fashionable of dwelling).
GDP definitions are maintained by some countrywide and worldwide financial organizations. The agency for monetary Co-operation and improvement (OECD) defines GDP as "a mixture degree of production equal to the sum of the gross values brought of all resident and institutional devices engaged in production and services (plus any taxes, and minus any subsidies, on products now not included in the fee in their outputs)".
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A seller agrees to have their property listed on the MLS. As a result, the seller agrees to a dual agency relationship. What may arise if the seller subsequently withdraws their consent to dual agency
C) The property can no longer be listed on the Multiple Listing Service (MLS) because the seller withdraws their consent to dual agency.
In MD, is dual agency permitted?The Maryland Real Estate Commission's Consent for Dual Agency form must be signed by both parties before dual agency can take place.
How Does Dual Agency Work?When a real estate agent acts on behalf of both the seller and the buyer of a home, this is known as dual agency. Due to the potential for a conflict of interest that can arise when an agent negotiates on behalf of both parties, separate agents representing each party in the majority of real estate transactions are much more common.
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Full Question = A seller agrees to have their property listed on the MLS. As a result, the seller agrees to a dual agency relationship. What may arise if the seller subsequently withdraws their consent to dual agency...?
A. The seller must retain a new agent
B. The seller must retain a new broker
C. The property can no longer be listed on the MLS
D. The property will not be sold
What are the goals of a free market economy?
The goal of a free market economy is to provide an environment that encourages and rewards innovation, growth, and wealth creation.
A free market economy is an economic system in which the market is allowed to determine prices, production, and distribution of goods and services based on the laws of supply and demand.
This system is designed to promote competition, reduce government interference, and increase the efficiency of resource allocation and production. The goal of a free market economy is to provide an environment that encourages and rewards innovation, growth, and wealth creation.
This system also encourages individuals to take responsibility for their own economic decisions, resulting in increased economic freedom. Ultimately, a free market economy seeks to maximize the welfare of individuals, businesses, and the overall economy.
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Is an 800 credit score possible?
Despite the fact that both the FICO and Vantage Score credit scoring systems have a maximum score of 850, you don't actually need to reach 850 to enjoy the same advantages as people with perfect credit. You have a very strong credit history if your FICO score is 800.
How is it possible?
A credit score of 1,000 is not attainable because credit scoring models do not support it. Experian asserts that some credit scoring methods can get scores of up to 900 or 950, but they are institution-specific ratings that are only used in that industry.You most likely need a credit score of at least 580 to qualify for a $1,000 personal loan. Most lenders who provide personal loans of $1,000 or more accept borrowers with poor credit or better if they have enough income to meet the loan's monthly payments.Generally speaking, in order to be eligible for a loan to buy a property, your credit score must be at least 620. The majority of lenders have that minimal credit score for a standard loan.To know more about credit score here
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A consumer has sent a complaint to the Texas Real Estate Commission (TREC) against a real estate agent, claiming a violation of the Canon of Integrity. The agent is accused of
The agent is accused of Canon of Integrity which states misrepresenting the condition of the property by omitting pertinent facts.
What is the canon of integrity?
The Integrity canon deals with misrepresentations. Licensees owe a special obligation to exercise integrity in discharging responsibilities. This may be accomplished with prudence and caution to avoid misrepresentation by words, deeds or omissions (Section 531.2).
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Do you believe that prices should reflect the value that consumers are willing to pay or should prices primarily reflect the cost involved in making a product or service.
Generally, the cost of production just establishes a minimum price at which a good can be sold. In other words, the cost of manufacturing must be covered by the price paid (a company's income).
In actuality, a corporation can divert different income sources to pay for other items it produces that are not covered by those revenue streams, but that's an operational element that doesn't change the fact that production costs must be covered or it is unsustainable.
Different consumers have their own unique exchange rates, which they may or may not agree to. Your demand curve is determined by adding up the number of consumers who would swap at each price. The actual market price will thereafter be determined by a combination of supply and demand market pricing.
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How does a command economy differ from a mixed market economy How does a command economy differ from a mixed market economy?
In general, the command of the economy is held by the government. However, in a mixed market, some of the economic commands are held by the government and some are held by the free market economy without any government intervention.
In economic and business, A mixed market or also known as mixed economy generally can be defined as one that incorporates the principles of a capitalist free market to allow for private economic freedoms. Mixed market has a principle that attempts to compensate negative effects of economic freedom to ensure or improve the social good. One of the benefit from mixed market is that each companies will compete for creating better products or services for consumers.
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Topic 5 Lesson 1 The factory system Group of answer choices developed mainly in rural areas. brought workers and machinery together. faded after widespread industrialization. increased the cost of goods.
The five ways the factory system changed life for industrial workers, women, and children are:-
1). Family members who used to work together at home were split during the day as members went to factories to work
2) Manufacturing moved from the countryside into towns causing crowding and poor living conditions.
3). A new lower class of people -- the working class-- was created.
4) There was no singing at work as there might be at home
5) Factory owners and workers no longer had a personal relationships (like family members did with the people who bought their goods)
The manufacturing facility gadget is a way of manufacturing the use of machinery and division of exertions. because of the excessive capital cost of equipment and manufacturing facility buildings, factories are usually privately owned by rich people or organizations who hired the operative exertions. The use of equipment with the department of exertions decreased the desired skill degree of employees and additionally increased the output according to workers.
The manufacturing unit system was first followed in Britain at the beginning of the commercial Revolution in the past due eighteenth century and later spread around the world. It changed the setting-out device (home system). the primary feature of the manufacturing unit device is using machinery, at the beginning powered via water or steam and later via power. other characteristics of the device often derive from using machinery or economies of scale, the centralization of factories, and the standardization of interchangeable parts.
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What is the most encountered problems in economics and why?
The conundrum of limited resources and insatiable wants is the core issue in economics. Additionally, economics has demonstrated that a man's requirements cannot be met. As more of our requirements are met over time, we gradually create greater wants.
The social science of economics deals with the creation, exchange, and consumption of products and services. Economics is the study of how economies work as well as the behavior and interactions of economic actors. The study of microeconomics focuses on what are thought to be the fundamental components of the economy, such as the interactions that result from market and agent activity. Individual agents can represent a variety of clients, including homes, companies, buyers, and sellers. The study of the economy as a coexisting system of production, consumption, saving, and investment is known as macroeconomics. Additionally, it looks at the elements that have an impact on this system, including the use of labor, capital, and natural resources, currency inflation, economic expansion, and public policies .
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According to Crane et al, globalization (as defined in terms of the closer integration of economic activities) is particularly relevant for business ethics, and this is evident in three areas: culture, law, and ______________.
Business ethics are particularly affected by globalization as it relates to the deterritorialization of economic activity, and this is clear in three key areas: culture, law, and accountability.
How do culture and corporate ethics intersect?Additionally, business ethics and culture entail that management and personnel must uphold moral principles in their interactions with clients from diverse cultures. One illustration would be a corporation that produces electrical products and has a branch in another nation where it also produces related products.
Which Seven Business Ethics Apply?The subject of business ethics is dynamic. The twelve basic ethical values are: honesty, fairness, leadership, integrity, compassion, respect, responsibility, loyalty, observance of the law, openness, and consideration of the environment.
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Which statement below is not a reason for a corporation to buy back its own stock. a. for supporting the market price of the stock b. bonus to employees c. to increase the shares outstanding d. resale to employees
A corporation can either fund its buyback by incurring debt through the issuance of bonds or by using the money saved in retained earnings.
Following the stock repurchase, the issuer or transfer agent operating on the issuer's behalf must adhere to a variety of Securities and Exchange Commission regulations.
In a buyback, a business either directly purchases its own stock from the market or gives shareholders the choice to tender their shares to the business at a predetermined price. By lowering the number of outstanding shares, a share repurchase raises both the demand for and the price of the stock.
Buy Back of shares reduces the shares outstanding.Significant changes in stockholders' equity are reported in statement of stockholders' equity.The advantage of bonds is interest expense is deductible for tax purposes.Stockholders' Equity includes retained earnings and paid-in capital.Interest rate specified in bond indenture is called contract rate.Therefore, Option C is the correct choice.
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Ownership passes to the buyer when the public carrier accepts the goods if the goods are shipped
a. FOB shipping point.
b. FOB destination.
c. FOB shipper.
d. FOB buyer.
FBO shipping point Ownership passes to the buyer when the public carrier accepts the goods if the goods are shipped.
Hence, Option A is correct
When goods are delivered to the point of origin under an FOB shipping point agreement, ownership is changed from the seller to the buyer. Once the goods arrive at the shipping point, the buyer becomes the owner and is responsible for them throughout the journey.
FOB destination, on the other hand, places the onus of delivery on the seller. "Free on board" is referred to as FOB in the shipping industry. Whenever a shipment of goods departs the seller's warehouse when it is marked FOB (the seller's location), the seller records the sale as complete. In transit to its warehouse, the product belongs to the buyer, who is also responsible for any delivery fees. Any document through which ownership rights are transferred, such as a sale deed, is a document that grants
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Which of the following is a likely result of the federal government fixing the price of a good above the equilibrium level
The result of the federal government fixing the price of a good above the equilibrium level is an excess supply or surplus of the good.
What are Price Controls?Price controls are the minimum or maximum prices that are set by law for particular items. In a free market, government regulation of prices is typically required. They are frequently used as a direct economic intervention method to control the cost of some products and services, such as rent, gas, and food. Price controls often result in market disruptions, losses for companies, and an observable shift in quality, even though they may make some goods and services more inexpensive.
In order to make goods and services more accessible to consumers, governments impose price control, which sets minimums (floors) and maximums (ceilings) for their pricing.
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On March 2, 2021, Finch City issued ten-year general obligation bonds at face value, with interest payable on March 1 and September 1. The proceeds were to be used to finance the construction of a civic center over the period April 1, 2021, to March 31, 2022. During the fiscal year ended June 30, 2021, no resources had been provided to the debt service fund for the payment of principal and interest. On June 30, 2021, Finch’s debt service fund should include interest payable on the general obligation bonds for __________.
Answer:
zero ( 0 ) months
Explanation:
Finch's debt service funs should include interest payable on the general obligation Bonds for zero ( 0 ) months
Given that the general obligation bond was issued on March 2 2021 the interest payable on March 1 2021 will not be Included on June 30 2021 Finch's debt service fund. since that date marks the end of the fiscal year ( 2021 ) and the bond was issued beyond that date and no resource have been provided as well.
Which city-states had democracy?
Answer:
the city states are, Athens, Sparta, Thebes, Corinth, and Delphi.
Explanation:
If explicit data is information that is intentionally shared between a contact and a company, what is implicit data: Information gathered from website activity
Information gathered from a form submission
Information gathered from implied behavior
Information gathered from user behavior
Information gathered from a form submission implicit data: Information gathered from website activity. Always keep an eye on the open rates, click-through rates, and conversions of your emails.
The open and click are two crucial activities to consider when improving your email. Your email Information pushing too hard is one common reason for low click-through rates. HubSpot defines marketing automation as implicit data that is designed to automate marketing activities. In many marketing organisations, repetitive processes like emls, social networking, and other online actions must be automated. These tactics entail having members of your staff act as consultants and subject matter experts who can help clients whenever they need it.
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What are the benefits of tracking income and spending according to a budget
Answer:
You won't go over on an account, also, if someone hacks into your account/ uses your money, you know who to contact, for you know that you didn't buy that item.
Explanation:
Should all bank trasactions be recorded
Answer:yes
Explanation:
Yes indeed.
The effect on the business clothing and restaurant industries due to an increase of women in the workforce are examples of which segment of the general environment
Examples of the overall environment's socio-cultural component include how more women in the workforce have affected the business industries.
The socio-cultural environment is still evolving and changing. The causes differ between community groupings as well. Companies must therefore keep an eye on these changes and weigh their strategic ramifications.
Organizations must emphasize the benefits or impacts that having women in key leadership positions has on the broader work culture because leaders contend that maintaining gender equality at the workplace faces substantial obstacles because of the presence of long-standing cultural norms.
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The right hemisphere of the brain is better at ____________tasks, whereas the left hemisphere is better at ___________tasks. a. a) Mathematical; spatial b. b) Nonverbal; verbal c. c) Analytic; holistic d. d) Visual; auditor
When it comes to expressive tasks, the right hemisphere of the brain excels while the left hemisphere excels in creative ones.
What does the right hemisphere excel in more than the left?According to a widely accepted idea, depending on which side is predominate, persons can be classified as either having left- or right-brained personalities. According to popular belief, right-brained people are more creative while left-brained persons are more reasonable.
What are the strengths of right brain thinkers?They are frequently characterized as being more creative, intuitive, and emotional. They are frequently characterized as succeeding in fields requiring creative expression and independent thought, such as becoming writers, psychologists, or artists.
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Which one of the following is an immediate benefit of just in time (JIT) stock control?
Improved customer service
Higher market share
Improved availability of stock
Lower warehousing costs
Which of the following techniques is NOT a technique for dealing with a bottleneck?
A. Schedule throughput to match the capacity of the bottleneck.
B.Have cross-trained employees available to keep the constraint at full operation.
C. Develop alternate routings.
D. Increase the capacity of the constraint.
E. All are techniques for dealing with bottlenecks.
D. Increase the capacity of the constraint is not a technique for dealing with a bottleneck.
When dealing with a bottleneck, it is important to remember that increasing the capacity of the constraint is not necessarily the best solution.
There are other, more effective techniques to help manage bottlenecks and optimize a system’s performance, such as re-balancing workloads, reorganizing processes, and utilizing automation.
The right solution will depend on the specific bottleneck and the system dynamics, but it is important to consider all of the options before committing to a strategy.
One way to address a bottleneck in your business is to increase the capacity of the constraint.
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when a customer is interested in puchasing penny stocks, the broker dealer must generally disclose either prior to the transactions or with monthly accoutn statements which of the following
When a customer is interested in purchasing penny stocks, the broker-dealer must generally disclose the current market quotation, compensation received, number of shares, risks, financial condition of an issuer, the fact that they may be acting as a market maker or liquidity provider, they may be a shareholder, and that the penny stock is a low-priced stock with greater risks.
When a customer is interested in purchasing penny stocks, the broker-dealer must generally disclose the following information either prior to the transactions or with monthly account statements:
The current market quotation for the penny stock, if any.The compensation received by the broker-dealer and any affiliated persons for selling the penny stock, including any compensation received in cash or securities.The number of shares to which such compensation relates.Any other facts that may be necessary to make the statements made, in light of the circumstances under which they are made, are not misleading.The risk of investing in penny stocks, which are typically highly speculative and volatile, and are subject to greater risks than investments in more established companies.The fact that broker-dealer is not required to disclose the financial condition of the issuer or the risks involved in the penny stock.The fact that the broker-dealer may be acting as a market maker or liquidity provider for the penny stock.The fact that the broker-dealer may be a shareholder of the penny stock.The fact is that penny stock is a low-priced stock and is subject to greater risks than investments in more established companies.To learn more about stocks at
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Which of the following is not an example of next-generation enterprise applications?
A) open-source solutions
B) on-demand solutions
C) solutions incorporating SCM
D) solutions incorporating SOA
Solution incorporating SCM is not an example of next-generation enterprise applications.
Option C is correct.
What are next-generation applications?Modern apps are built using a new methodology called Next Generation Application Development and Maintenance (ADM). Next-gen ADM is a concept aimed at aligning the process of building and running apps with broader business goals and extending the life of apps, perhaps indefinitely.
Why you need an enterprise application?Enterprise applications are designed to integrate systems across the enterprise and streamline workflows. They create links between different departments. Employees should view them as useful tools that run on her mobile device. It can be customized to meet your company's specific needs, improving work efficiency.
What are his three types of enterprise systems?Currently, there are mainly three types of his in enterprise systems. Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), Supply Chain Management (SCM).
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________ is the art and science of choosing target markets and building profitable relationships with them.
Marketing management, The art and science of selecting target audiences and forging lucrative connections with them are known as marketing management.
The main goals of marketing management are to develop, plan, and implement strategies that will aid in achieving more general corporate goals. These corporate goals may include expanding into unexplored areas, generating earnings, or raising brand recognition. It's important to look to marketing experts Philip Kotler and Kevin Lane Keller when we start thinking about the field of marketing management. In their book "Marketing Management," they provide a common definition of marketing management as "the development, design, and implementation of marketing programmes, processes, and activities that recognise the breadth and interdependencies of the business environment." These specialists must thoroughly comprehend the techniques and approaches that keep and delight clients, do in-depth research on them, and actively participate in performance evaluation and process improvement.
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