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Maru [420]
2 years ago
10

A form of economic organization that relies primarily on private ownership of productive assets, freedom of exchange, and market

prices to allocate goods and resources is often called:_________
Business
1 answer:
Sedaia [141]2 years ago
4 0

capitalism.

<h3>Describe capitalism?</h3>

Capitalism is an economic system that relies on private ownership of the means of production and their commercial application. Key components of capitalism include capital accumulation, competitive markets, the pricing structure, private property, the recognition of property rights, voluntary exchange, and wage labor.

<h3>An economic system is what?</h3>

A government or community can utilize an economic system as a tool to plan and distribute resources, services, and products across a region or country. Economic systems are in charge of the production factors like labor and capital.

<h3>What exactly does a "pure market economy" entail?</h3>

Government does not significantly interfere in important economic areas and has minimal control over resources. The sources of regulation, on the other hand, are the law of supply and demand and human conduct. Most of what we know about the market economy comes from theory. There isn't a true pure market system, to put it another way.

Learn more about economic system:

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What is one drawback of pure competition compared to monopolies?
frutty [35]

Answer:

D. Pure competition spreads resources between many different

firms.

Explanation:

Pure competition is a market structure with many suppliers and many buyers. All the suppliers sell a homogeneous product. There is intense business competition among the suppliers. Other characteristics of pure competition include

  • There are no dominant suppliers.
  • There is ease of entry and exit into the market
  • Suppliers/firms are price takers.

In pure competition, resources are shared among the many competing firms in the industry, unlike in a monopoly that has only a single supplier. Resources include raw materials and profits.

8 0
3 years ago
Read 2 more answers
How do (inter) governmental organisations, such as the International Energy Agency, project energy use and carbon emissions for
Ainat [17]

The International Energy Agency provides insights into energy use and carbon emissions for the future in the form of exploring different scenarios, which are not actual projections.

<h3 /><h3>What are the goals of the IEA?</h3>

The agency aims to disseminate information and support global efforts to transition from clean and renewable energy use, in order to reduce the impacts of non-renewable energy on the environment and climate.

Therefore, the IEA uses an approach to identify future trends on the sustainable energy transition, and is not really a tool for forecasting the future of global energy.

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5 0
2 years ago
If during 2011. the country of Sildavia recorded a GDP of $65 billion. interest paymentsof $15 billiorn imports of $13 billion.
Helen [10]

Answer:

B. $36 billion

Explanation:

Since we were asked to calculate Wages. We can't use the Expenditure method of GDP. Method to be used would be the Income approach. In doing so, the values of export and import would be excluded. Therefore,

Given that

GDP = 65 billion

Profits = 7 billion

Rent = 7 billion

Interest payments = 15 billion

Recall that,

GDP = sum of income earned (profits, wages, rents, interests)

Thus,

Wages = GDP - Profits + rents + interests

= 65 - (15 + 7 + 7)

= 65 - 29

= 36 billion

Hence, wages during 2011 was $36 BILLION.

Note: Parameters used are based on the information in the question. It is important to note that income earned when using income approach could be more than the 4 stated parameters of wages, rent, profits and interests.

6 0
3 years ago
what is the process of fitting effort and level of planning detail proportionately to the cost, size, complexity, and risk of th
mote1985 [20]

Tailoring is the process of fitting effort and level of planning detail proportionately to the cost, size, complexity, and risk of the project.

Tailoring refers to an apparel object that is custom-outfitted for the wearer. due to the fact the garb is custom-match, it will appear suitable on the character it changed into made for. Tailoring is something that most people can't do for themselves, therefore it comes at a rate.

Tailoring is the artwork of adjusting clothes to match a particular individual's particular frame shape. Tailors can alter whatever from the sleeve duration and shoulder seams of an in-shape jacket to the inseam of a pair of denim to the drape of a marriage get dressed.

Normally, a seamstress sews garments, fabrics, and garb for a dwelling. A tailor works at changing clothing and clothing to match a purchaser/purchaser. They could make clothes as properly and might be tasked with hemming and mending. Usually, a tailor will paintings greater with fits and coats or even fancy clothes which include ball robes.

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8 0
1 year ago
John Jansen, an employee of Redwood Company, had gross earnings for the month of May of $4,000, FICA taxes are 8% of gross earni
pogonyaev

Answer:

The correct answer is B) 2,880

Step I - Ascertain All Pre Tax Deductions

<em>Deduction 1 - Voluntary Deduction</em>

This is given as $5. This is the only pretax deduction given.

To obtain John Jansens net pay, first we need to establish all the other deductions.

<em />

<em>Deduction 2   -  FICA Taxes</em>.

FICA  means “Federal Insurance Contributions Act.” FICA tax is mandatorily deducted from workers' paychecks to pay for the Social Security retirements and Medicare (Hospital Insurance) benefits  for elderly Americans.

FICA Tax = 8% of Gros Earnings

Therefore FICA Tax = \frac{8  X 3995}{100}

FICA Tax = $319.60

<em>Deduction 3 - Federal Income Tax</em>

This has already been given as $ 675

<em>Deduction 4 - State Income Tax</em>

This is given as 3% of gross earnings.

That is 3995 x (3/100) or

= \frac{3 X 3995}{100}

= $119.85

Step 2 - To calculate the net pay, we need to seperate pre-tax deductions from after tax deductions.

The only pre tax item we have on the list is deduction 1 which is Voluntary deduction of $5.

Therefore Net Pay for John Jansen is ((Gross Pay Less Pretax Deductions) - Sum of other Taxes)

= [($4000 - $5) - ($319.60+$675+$119.85)

=$3,995 - $1,114.45

= $2,880.55 or $2 880 approximately.

Cheers!

6 0
3 years ago
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