Private enterprise is the basis of market economies, allowing economic activities and production to be primarily driven by privately-owned businesses and individuals rather than the government.
Market economies are based on private enterprise, which means that economic activities and production are primarily driven by privately-owned businesses and individuals rather than the government. In a market economy, individuals and businesses have the freedom to make economic decisions based on their self-interest and pursue profit maximization.
Private enterprise entails several key characteristics:
1. Private Ownership: Resources, such as land, capital, and means of production, are predominantly owned by private individuals or entities. This ownership allows for the allocation of resources based on market demand and supply dynamics.
2. Profit Motive: Private enterprises aim to generate profits as a primary objective. Businesses seek to maximize their revenues and minimize costs to increase profitability. This profit motive serves as a driving force for innovation, efficiency, and competition within the market.
3. Competition: Private enterprise promotes competition among businesses. Competition fosters innovation, quality improvement, and price competitiveness as companies strive to attract customers and gain a larger market share. This competitive environment helps drive economic growth and efficiency.
4. Consumer Choice: Market economies allow consumers the freedom to choose from a variety of products and services provided by different private enterprises. Consumers can make decisions based on their preferences, needs, and budgetary constraints, leading to a diverse range of goods and services available in the market.
5. Limited Government Intervention: In a market economy, the role of the government is generally limited to creating a conducive environment for private enterprise to thrive. The government's primary responsibilities include ensuring the rule of law, protecting property rights, enforcing contracts, and regulating market activities to prevent unfair practices.
In summary, private enterprise is a fundamental characteristic of market economies. It empowers individuals and businesses to make economic decisions, pursue profit, engage in competition, and contribute to the overall economic growth and development of the market.
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5 steps in developing a research instrument
Answer:
Explanation:
Step 1 – Locating and Defining Issues or Problems. ...
Step 2 – Designing the Research Project. ...
Step 3 – Collecting Data. ...
Step 4 – Interpreting Research Data. ...
Step 5 – Report Research Findings.
Answer:Step 1: locatingOr defining issues problems problems
Step 2: designing the research project
Step 3: collecting data
Step 4: interpreting research data
Step 5: Report research findings
Explanation: it is there as soon a u look it up ! Hope that helps
The Hull Petroleum Company and Inverted V are retail gasoline franchises that compete in a local market to sell gasoline to consumers. Hull and Inverted V are located across the street from each other and can observe the prices posted on each other's marquees. Demand for gasoline in this market is Q= 80-12 and both franchises obtain gasoline from their supplier at $410 per gallon. On the day that both franchises opened for business, each owner was observed changing the price of gasoline advertised on its marquee more than 10 times: the owner of Hull lowered its price to slightly undercut Inverted V's price, and the owner of Inverted V lowered its advertised price to beat Hull's price. Since then, prices appear to have stabilized. Under current conditions, how many gallons of gasoline are sold in the market, and at what price? Instructions: Enter your responses rounded to the nearest two decimal places Gallons sold: Price: $
Answer:
I believe that the demand equation is incomplete, since there is no price (P).
If we just solve this equation like it is, the quantity demanded = 80 - 12 = 68 gallons
if we add the price into the equation:
Q = 80 - 12P
since this is a competitive market, in order to maximize profits, marginal revenue = marginal cost = $4.10 per gallon (not $410).
That means that both companies will sell gasoline at $4.10 per gallon
equilibrium quantity = 80 - (12 x 4.10) = 30.8 gallons of gasoline
What is one of the key goals of unions?
A: to encourage more workers to form unions
B: to ensure that employers heed environmental laws
C: to get wage increases for their members
D: to engage in featherbedding
Answer:
l think to encourage more workers to form unions
Explanation:
please follow me
Answer: C
Explanation:
Suppose you work for a bank and are responsible for determining whether you should give someone credit. Create a list of the top three questions you would
ask prospective borrowers and post them to the discussion board. Make sure to explain why you think these three questions are important in determining
whether or not a potential customer is a good credit risk.
Answer:
-How much money do you need?
-How much income do you make?
-How much debt do you have?
Explanation:
The top three questions that I would ask prospective borrowers are:
-How much money do you need?
This question allows the lender to know the amount of money the borrower requires and this is crucial to make an evaluation with the income and debts to determine if the lender would approve the loan. For example, a borrower may need an amount that he can easily pay back with his salary.
-How much income do you make?
This question is important to the lender because it allows to find out if the borrower's income would allow him/her to make the monthly payments which decreases the risk.
-How much debt do you have?
It is important to know the amount of debt the borrower has because the higher amount of debt he/she has, it would be harder to pay the loan and evaluating this allows to decrease the risk of the borrower not paying back.
As a business consultant to a grocery store, your job is to determine what pricing policy would be appropriate for increasing the total revenue. The first step you would take would be to Group of answer choices reduce staff in order to reduce operating costs. increase the price of all products. determine the price elasticity of supply for all products sold at the store. determine the price elasticity of demand for all products sold at the store.
As a business consultant for this store to determine the appropriate pricing i would determine the price elasticity of demand for all products sold at the store.
The price elasticity of demand can be described as the measurement of the economic impacts of changes in price on the quantity that would be demanded by the consumers.
It would be necessary to observe how the price of the goods would affect the demand. If the prices are too high and the demand falls, the revenue would drop.
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do you agree with the marketing customer service mantra the customers is always right
Answer:
depemds
Explanation:
in jobs usually they tell the employee the customer is right to satisfy them and not lose customers but it is depending the situation
Discuss reasons why a business might choose to sell direct to customers through a website with e-commerce facilities, as opposed to through fixed (physical ‘bricks and mortar') premises.
Answer:
Businesses might prefer selling direct to customers through a website with e-commerce facilities because:
1. For covering a wider distance, distance is not a barrier.
2. For flexibility for customers, as some e-commerce even accepts cryptocurrency payments.
3. For product and price comparison.
4. For saving cost incurred from having fixed (physical ‘bricks and mortar') premises.
5. For saving the cost of paying workers.
6. For maintaining social distancing protocol given by the government especially during the pandemic. This doesn't put anyone at risk.
Explanation:
The question above asks for justifications why a business might choose to sell direct to customers through a website with e-commerce facilities rather than selling to customers through fixed (physical ‘bricks and mortar') premises.
First, selling to customers through a website with e-commerce facilities involve virtual transactions with customers paying for goods and services they are interested in over the internet. With this, customers can pay with their bank cards through e-commerce websites. While selling through fixed (physical ‘bricks and mortar') premises involve direct contact in-person with the customer and possibly payment is made in cash or through any other accepted methods.
This document shows that you are allowed to work in the United States:
a. cover letter
b. résumé
c. job application
d. work permit
Answer:
d. work permit
Explanation:
The work permit is also referred to as the Employment Authorization Document or EAD. A work permit has the same design as a driver's license. It is issued by US Citizenship and Immigration Services (USCIS).
Foreigners coming into the US need to obtain a work permit to enable them to seek employment. The work permit card is presented to potential employers as proof that a person is duly authorized to work in the USA.
Answer:
D. Work permit
Explanation:
Did the quiz
Allen Furniture Company is considering offering an inexpensive line of college dorm and apartment furnishings. If they move forward, they will renovate part of their store to accommodate this new stock. Before spending the money to redesign the store, they first want to find out customer interest. In a short response of approximately 100 words, describe some of the steps they should take as they consider this project.
Answer:
Allen Furniture Company should look into conducting a survey to gauge customer interest to find what they look for, need, and find attractive. They could do so by going to college campuses and conducting random interviews. For their apartment furnishings, they could look online to see what kind of product sell and do an analysis of customer interest that way and they could also conduct a survey for people that live in apartments. They could also look into a consultant that specializes in the field and is experienced with what customers like or want.
Henry recently set up a retail store in his hometown. He studied the pattern that other storeowners followed in obtaining new customers. All their current customers had referred the store to their friends and family. Their awareness basically spread through word-of-mouth. Henry knew that his store offered the same quality as the other stores did. His store was also on the same street as the other retail stores. Given the setting, the other storeowners were already charging their customers the bare minimum in order to remain competitive. Which P of marketing should Henry concentrate on to distinguish his retail store?
Answer :
Promotion is the P of marketing Henry may focus on to differentiate his retail shop.
Explanation :
In marketing, there are seven (7) P's that make up the marketing mix. The four (4) most important P's in the marketing mix are P-product, P-price, and P-place. P-promotion According to the text, Henry cannot utilize the first P, which stands for product, because he is aware that his store offers the same quality as the others.
Henry can't utilize the second P, Price, as a marketing technique since he knows that other business owners are already charging the bare minimum to stay competitive. Henry can't utilize the third P, which stands for Place, because his business is on the same street as the other retail stores, and he can't improve on that. Henry's lone marketing tool for beating the competition is the fourth P, which stands for Promotion.
This is because word-of-mouth knowledge established by other business owners is insufficient to create widespread awareness; word-of-mouth can only reach friends and relatives. As a result, the P in marketing that Henry may use is Promotion. He may achieve this by creating global awareness through advertisements on television, radio, social media, printing handbills, and sales promotions such as lottery draws, festive sales, clearance discounts, and offering consumers bonuses such as the buy three, get one free promotion.
state the importance of product promotion
Answer:
It increases the speed of product and service acceptance. Aids in the sales of goods and services in imperfect market conditions. It provides effective sales support. Fills the gap between the manufacturers and the end consumers.
What could be some volunteer opportunities for an interior decorating job? Someone pls helppp
U should start tixtok and promote urself first. U can also make a website and attach all ur files. The website can be ur portfolio. Start offering ur service for free to gain experience and trust of ppl. Tell ur friends to recommend u to someone who needs interior designer. Try to research if there are any volunteering jobs for interior designers in ur area.
HELP PLEASE!
1. Alex loves to build things and wants to study robotics. He needs to get a job over
the summer but the only one he can find is at a fast food restaurant Does taking
the job mean that Alex cannot pursue a career in robotics? Explain your answer
Answer:
He can take the job at the fast food restaurant to make money in order to pursue his career in robotics it doesnt mean he cant pursue it just he needs to make money for it first.
2. Consider the following two-stage model of entry in a Cournot setting. In the first stage, a large number of potential entrants decide whether to pay the fixed cost F (which is then sunk) in order to enter the market. In the second stage, the N firms that entered in the first stage choose quantities simultaneously. The market demand curve is given by P = 100-Q. Each firm i has a total cost function, if it chooses to enter, given by C(q) = q² - F.
(a) Supposing N firms have entered in the first stage, solve for the symmetric second stage Cournot Nash equilibrium.
(b) Derive a formula determining how many firms will enter the market, as a function of F. How many firms will enter if F equals (i) 800 or (ii) 400?
Solving this inequality will give us the number of firms that will enter when F equals 400.
(a) To solve for the symmetric second stage Cournot Nash equilibrium, we need to determine the quantity each firm will produce given that N firms have entered the market.
In a Cournot setting, each firm assumes that its competitors' quantities will remain constant when determining its own quantity. Thus, if N firms are in the market, each firm assumes that the total quantity supplied by its competitors is (N-1)q, where q is the quantity produced by each firm.
To find the equilibrium quantity, we maximize the total profit of a representative firm. The profit function is given by:
π(q) = (P - C(q)) * q = (100 - q - (N-1)q) * q = (100 - Nq) * q.
To maximize profit, we take the derivative of the profit function with respect to q and set it equal to zero:
dπ(q)/dq = 100 - 2Nq = 0.
Solving for q, we find:
q = 100 / (2N).
Therefore, in the symmetric second stage Cournot Nash equilibrium, each firm will produce q = 100 / (2N) units of output.
(b) To determine the number of firms that will enter the market, we need to compare the profits of potential entrants with the fixed cost F.
If a firm chooses to enter, its profit in the second stage is given by:
π(q) = (P - C(q)) * q = (100 - q - (N-1)q) * q = (100 - Nq) * q.
The decision to enter is profitable if the potential entrant's profit is non-negative, i.e.,
(100 - Nq) * q ≥ F.
Simplifying the inequality, we have:
100q - Nq² ≥ F.
Substituting q = 100 / (2N), we get:
100 * (100 / (2N)) - N * (100 / (2N))² ≥ F.
Simplifying further, we obtain:
5000 / N - 10000 / (4N²) ≥ F.
To find the number of firms that will enter, we solve this inequality for N.
(i) If F = 800:
5000 / N - 10000 / (4N²) ≥ 800.
Solving this inequality will give us the number of firms that will enter when F equals 800.
(ii) If F = 400:
5000 / N - 10000 / (4N²) ≥ 400.
Solving this inequality will give us the number of firms that will enter when F equals 400.
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X
✓
The primary function of the Gini coefficient is to
(4 points)
measure the quality of human capital in an economy
O explain the cause of income inequality
O measure income inequality in an economy
show the efficiency of an economy
show the amount of wealth in an economy
Points
Answer:
The primary function of the Gini coefficient is to measure income inequality in an economy. It is a statistical measure that is used to represent the distribution of income or wealth among a population. A Gini coefficient of 0 indicates perfect equality, where everyone in the population has the same income or wealth. A Gini coefficient of 1 indicates perfect inequality, where one person has all the income or wealth in the population. The Gini coefficient is often used to assess the level of income inequality in a country or region and can be used to inform policy decisions related to redistributive measures such as taxes and welfare
As a smart consumer, you are always on the lookout for sales, coupons, and rebates. While shopping for new clothes, you notice that one particular brand of shirts is on sale for 20% off the original price. You also have a coupon for $10 off a $40 purchase. Coupons are applied after the 20% discount is taken. If each shirt originally costs $17.99, how many shirts would you need to buy to be able to use your coupon? Show your work
Answer:
3 shirts
Explanation:
The cost of one shirt is before discounts is $17.99
After a 20% discounts, the shirt will retail at
= $17.99 - (20% of $17.99)
=$17.99 -$3.598
=$14.392
The coupon applies purchases worth $40. A customer will need by
=$40/$14.392
=2.7793
The customer has to buy 3 shirts
What accounts for most of the total value of world trade transported by sea?
a. passengers
b. finished goods
c. oil
d. grain
The correct answer is c. oil. Oil accounts for the largest portion of the total value of world trade transported by sea.
This statement is true. Oil is one of the most important commodities in the world, and it accounts for a significant portion of the total value of world trade transported by sea. According to the United Nations Conference on Trade and Development (UNCTAD), in 2020, the total value of world trade transported by sea was estimated to be around $11.5 trillion, and oil accounted for more than one-third of this value.
The transportation of oil is essential for the global economy, as it is used for a wide range of purposes, including transportation, electricity generation, and heating. The largest oil exporters include countries such as Saudi Arabia, Russia, and the United States, and the largest importers include countries such as China, the United States, and India.
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Doug files a suit in Illinois against Beth over the ownership of a boat docked in Illinois. Doug and Beth are residents of New York. Beth could ask for a change of venue on the ground that New York
a. has sufficient minimum contacts with the parties.
b. has a sufficient stake in the matter.
c. has jurisdiction.
d. is a more convenient location to hold the trial.
Beth could ask for a change of venue on the ground that New York is a more convenient location to hold the trial.
So, the correct answer is D.
Your question pertains to a legal scenario where Doug files a suit in Illinois against Beth over boat ownership, and both are residents of New York. In this case, Beth could ask for a change of venue on the ground that New York is a more convenient location to hold the trial.
This is because both parties are residents of New York, making it more practical and convenient to hold the trial in their home state.
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Hershey trust has equity in the corporation, which means:_______
The Hershey Trust having equity in the corporation means that it owns a portion of the company's assets and has a stake in its profits and losses.
The Hershey Trust is a nonprofit organization established by Milton Hershey, the founder of the Hershey Chocolate Company. The trust holds a significant amount of equity in the company, which allows it to have a say in the management and decision-making processes of the corporation. This equity gives the Hershey Trust the ability to influence the direction of the company and ensure that it stays true to its mission and values. In addition, the equity in the corporation provides a stable financial foundation for the trust to fund its charitable endeavors and support the Hershey community. Overall, the Hershey Trust's equity in the corporation is a critical factor in maintaining the long-term success and sustainability of the Hershey Chocolate Company.
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What's the present value of $16,000 discounted back 5 years if the appropriate interest rate is 4. 5%, compounded semiannually?
Select the correct answer.
a. $10,295. 04
b. $10,310. 64
c. $10,287. 24
d. $10,302. 84
e. $10,318. 44
The present value of $16,000 discounted back 5 years at a 4.5% interest rate compounded semiannually is approximately $10,310.64.The correct answer is b. $10,310.64.
To calculate the present value of $16,000 discounted back 5 years with a 4.5% interest rate compounded semiannually, we can use the formula for the present value of a future sum:
PV = FV / (1 + r/n)^(n*t)
Where:
PV is the present value
FV is the future value ($16,000 in this case)
r is the interest rate per compounding period (4.5%)
n is the number of compounding periods per year (2, since it's compounded semiannually)
t is the number of years (5 in this case)
Plugging in the values, we have:
PV = $16,000 / (1 + 0.045/2)^(2*5)
= $16,000 / (1.0225)^(10)
= $16,000 / 1.2386856
≈ $10,310.64
Therefore, The present value of $16,000 discounted back 5 years at a 4.5% interest rate compounded semiannually is approximately $10,310.64
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Do you think it is fair for dealers to charge you more for a car they pay the manufacturer
Answer:
I dont think they should charge more
Explanation:
Answer:
In my opinion, No,
But this occurs only when demand is so high that dealers aren't struggling to make a sale, and it generally indicates that an MSRP is too low. In the rare case that dealers can't restock a particular vehicle fast enough, it's perfectly legal (and a savvy business decision) to charge more than the MSRP.
I hope this helps.
elvis agrees to provide guitar lessons to angela’s niece for three months for $600. angela decides her niece really is not interested in guitar lessons, and assigns her rights under the contract to jose, so jose can use the lessons for his daughter. when jose contacts elvis to set up the first guitar lesson for his daughter:
When Jose contacts Elvis to set up the first guitar lesson for his daughter, he cannot enforce the contract against Elvis because the contract is for personal services.
What is a contract?In law, a contract entails a promise to do something or to refrain from doing something. Its making often requires the mutual assent of two or more persons, in which one of them ordinarily making an offer and another accepting, that is, when one of the parties fails to keep the promise, the other is entitled to a legal redress.
As well, we can define a contract as a legally binding agreement between two or more parties, the contractual agreement therein helps to creates a promise that certain rights and obligations will be fulfilled by each party
Most often, a typical contract will only be enforceable if both parties have entered into the contract willingly, so, when one parties have been bullied, pressured or manipulated into entering into the contract, such contract will be unenforceable because of lack of consent.
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Which of these scenarios would lead to an industry requiring more productive workers?
A. Supply of goods increases, and demand for goods decreases
B. Supply of good decreases, and demand for goods increases
C. Supply of goods increases, and demand for goods remains the same
D. Supply of goods decreases,and demand for goods remains the same
Answer:
B- Supply of goods decreases, and demand for goods increases.
Explanation:
I took the quiz
Answer:
Supply of goods decreases, and demand for goods increases.
marc corp. has a job-order costing system. the following debits (credits) appeared in the work in process account for the month of may: marc applies overhead to jobs at a predetermined rate of 80% of direct labor cost. job no. 23, the only job still in process at the end of may has been charged with direct labor of $5,000. the amount of direct materials charged to job no. 23 was: $6,250 $7,500 $13,000 $17,000
The amount of direct supplies charged to task no. 23 is $6,250, according to the query.
To determine the amount of direct materials charged to job no. 23, we need to use the predetermined overhead rate and the direct labor cost. Since the predetermined overhead rate is given as 80% of direct labor cost, we can calculate the direct materials charged as follows:
Direct Labor Cost = $5,000
Predetermined Overhead Rate = 80%
Direct Materials Charged = Direct Labor Cost / Predetermined Overhead Rate
Direct Materials Charged = $5,000 / 0.80
Direct Materials Charged = $6,250
Therefore, the amount of direct materials charged to job no. 23 is $6,250.
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levi is a marketing manager for trailblazer customer outfitters. he is currently finalizing the corporate marketing strategy and is reviewing factors outside of the organization. he wants to ensure the marketing strategy is adjusted to reflect these factors. levi is most likely conducting a(n)
Levi is a marketing manager for trailblazer customer outfitters. He is currently finalizing the corporate marketing strategy and is reviewing factors outside of the organization. Levi is most likely conducting strategic planning.
Marketing is the set of activities, institutions, and processes for creating, communicating, delivering, and exchanging offers of value to customers, clients, partners, and society at large.
The main purpose of marketing is to get people interested in a company's products and services. This is done through market analysis, research, examining the interests of the company's ideal customers, and engaging them through messages that are educational and helpful to the company's target audience.
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What is the most important determinant of price elasticity?
The most important determinant of price elasticity is the availability of substitute goods. When consumers have more choices for similar goods, they are more likely to make purchases and be price sensitive, leading to higher price elasticity.
On the other hand, if few or no substitutes are available, consumers are less likely to be price sensitive, leading to lower price elasticity. In addition, elasticity is also affected by the amount of time consumers have to adjust to price changes; if consumers have more time to adjust and find substitutes, they are more likely to be price sensitive, leading to higher price elasticity. In short, the availability of substitute goods is the most important determinant of price elasticity because it affects consumers' ability to adjust to price changes.
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What are the overall goal(s) for the Food Dye Project? (Select all that apply.) Quantify the amount of each FD\&C food dye present in an assigned drink. Build a parallel dilution set from the assigned drink. Determine the serving size of an assigned drink. Identify the FD\&C food dyes present in an assigned drink.
The overall goals of the Food Dye Project include quantifying the amount of each FD&C food dye present in an assigned drink, identifying the FD&C food dyes present in the drink, and building a parallel dilution set from the assigned drink. However, determining the serving size of the assigned drink is not explicitly mentioned as one of the goals.
The Food Dye Project aims to analyze and assess the presence of FD&C food dyes in an assigned drink. One of the goals is to quantify the amount of each FD&C food dye present in the drink. This involves measuring and determining the concentrations of different food dyes, allowing for an accurate understanding of their quantities.
Another goal is to identify the specific FD&C food dyes that are present in the assigned drink. This entails conducting tests or experiments to detect and differentiate between various food dyes, enabling the project to determine which specific color additives are used in the drink.
Additionally, the project aims to build a parallel dilution set from the assigned drink. This involves creating a series of diluted samples that mirror the concentration range found in the original drink. These dilutions are useful for calibration purposes, comparison, or further experimentation.
However, the goal of determining the serving size of the assigned drink is not explicitly mentioned. Serving size determination typically involves measuring the volume or weight of a specific portion of the drink to establish the standard portion size. While serving size information can be relevant for nutritional analysis, it may not be the primary focus of the Food Dye Project.
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Graham is hiking a trail that is 512 miles long. He has hiked 358 miles so far.
Which expression shows how many miles he has left to hike? A. 512+58
B. 512+358
C. 512−58
D. 512−358
True or False: Promotional activities are not included in budgeting with other business expenses.
Answer:
im sorry but i dont know the answer i would help you
You bought 200 shares of Stock A at $23.00 per share 6 months ago. It is now worth $47 per share. What was the percent of increase in the stock over 6 months?
Answer:
51 % increase
Explanation:
Stock A price= $23.00
Stock A price after 6 months= $47.00
Increase in price of Stock A= $47 - $23
= $24
Percentage increase in stick price = $24 x 100%
$47
= 0.510 x 100%
= 51%
The percentage increase in the price of Stock A is 51%
Cheers
Answer:
104%
Explanation:
200*23=4600
200*47=9400
9400-4600=4800
4800/4600=1.04
1.04*100%= 104%! :D