Answer:
Capitalism is based on individual initiative and favors market mechanisms over government intervention, while socialism is based on government planning and limitations on private control of resources.
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Answer:
b
Explanation:
According to Marshall Laws of Derived Demand, labor demand is more inelastic in the following circumstances :
- the cost of employing labour constitutes a small proportion of the total cost of production.
- the demand for the product is relatively inelastic
- labour cannot be easily substituted for in the production process
- when the supply of other factors of production is inelastic
The meaning of having to stand on the vessel in an
overtaking situation is that there is a vessel that is about to pass or
overtake on your boat, so it is best in situations like this is to maintain
course of the boat and the speed in preventing collisions and accidents.
