Answer: The above is an example of a basic employment generating nonbasic employment.
Explanation: Basic employment is employment as a result of businesses that operate on a very large scale, and usually these businesses export their products outside the location where they are because they can more than meet the demand of that locality.
As seen in the question above, where fishing is the mainstay of the economy of Seattle. This means the fishing industry in Seattle can meet the demand of Seattle and still have commercial quantities for export.
Non-basic employment often refers to small businesses who offer services to the local customers.
In the case of the question above, the fishing industry has brought about a rise in small businesses, these small businesses will make profit from meeting the needs of the fishermen.
Any business with employees are subject to a payroll tax under the Federal Unemployment Tax Act (FUTA).
Payments of unemployment compensation to workers who have lost their jobs are made possible by the Federal Unemployment Tax Act (FUTA), which works with state unemployment systems. Most businesses are required to pay both federal and state unemployment taxes. Visit the U.S. Department of Labor's Contacts for State UI Tax Information and Assistance for a list of state unemployment tax agencies. FUTA tax is not taken out of an employee's paycheck; it is only paid by the employer.
Therefore, it is imposed on any business with employees
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The steps for finding the EOQ in a quantity discount model with variable H are:
- The optimal point is the quantity that yields the lowest cost
- Start with the lowest price
- If the minimum point is feasible
- Otherwise, compare total costs
What is the Economic Order Quantity(EOQ)?
The Economic Order Quantity is the ideal quantity of units a company should purchase to meet demand while minimizing inventory, costs such as holding costs, shortage costs, and order costs.
The economic order quantity formula assumes that demand, ordering and holding costs all remain constant.
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