The answer is division of labor. It is the segregation of
tasks in any system so
that applicants may specialize. Individuals, nations, and organizations are gifted
with or obtain particular competencies and either form mixtures or skill to
take advantage of the capabilities of others in adding to their own.
Answer:
Experts are tested by Chegg as specialists in their subject area. We review their content and use your feedback to keep the quality high. Transcribed image text: If the required reserve ratio is 10 percent, the banking system currently has excess reserves equal to: $10 billion.
Explanation:
In practice, democracy means a system of government that allows for the following norms:
- Human rights protection
- Existence of the rule of law
- Periodic free and fair election of government officials
- Active participation of the citizenry in politics and civic life.
<h3>What is democracy?</h3>
Democracy is a form of government whereby people decide who governs them and how they govern.
Democracy represents free choice, the recognition of the human rights of the governed, and having elected representatives in government.
Autocrats or despots do not control democratic governments.
Thus, democracy originally meant power held by the people. In practice, it connotes the observance of political and social principles suitable for a free society.
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<span>Brian should create a monthly budget using the income from each month. He should multiply his weekly income in a given month by four, to account for four weeks. This should provide him with a reasonable estimate of what his income will be for the month. Since his income varies depending on the month, he should make an individual budget for each month to achieve better accuracy.</span>
In deciding whether to sell a product or continue to process it, the costs incurred to get the product into its current condition are not relevant to the decision.
<h3>What is Cost Price?</h3>
This refers to the price at which a good was bought and might include the expenses incurred while procuring the goods.
Hence, we can see that when an owner is trying to decide whether to sell a good or process it, the costs incurred to get the product to its current condition are not relevant while making this decision.
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