Answer:
D. private property rights must be allocated and defended by government.
Explanation:
A property right is the exclusive or sole authority which determines the legal ownership of resources and how these resources are to be used, whether by individuals or government.
Also, a competitive market is a type of market that comprises of numerous producers who compete with each other so as to satisfy or meet the material needs and wants of consumers at a specific period of time.
Hence, for a market to exist, private property rights must be allocated and defended by government.
This ultimately implies that, when the ownership of resources are well defined and markets are competitive, all benefits from trade between the consumers and producers of goods and services has been maximized, and each units creating more benefit to the consumers than cost have been produced in the economy.
Answer:
$5.96 million
Explanation:
Expected Utility = √W
expected utility = (probability ship doesn't sink x √utility of the ship) + (probability ship sinks x √utility of ship sinking) = (98% x √$200,000,000) + (2% x √$0) = $13,859.29 13,939.82
fair premium of insurance policy = probability of loss x size of loss = 2% x $200,000,000 = $4,000,000
maximum premium = maximum utility - W* = $200,000,000 - W*
- to find W*:
- expected utility = √W
- $13,859.29 = √W
- W = $13,859.29²
- W = $192,080,000
maximum premium = $200,000,000 - $192,080,000 = $7,920,000
maximum willingness to pay = (fair premium + maximum premium) / 2 = ($4 million + $7.92 million) / 2 = $5.96 million
Answer:
C. Both a Macro Economist & Micro Economist
Explanation:
Micro Economics is the study of single individual consumer, firm, industry. Eg-Single commodity price.
Macro Economics is the study of all consumers, firms & industries - studying economy as a whole. Eg: General price level.
Impact of higher tax can be on :
- On supply, demand of that particular good on which tax is levied (concern of Micro Economics). Micro Economic Concept Eg: Supply is inversely related to tax component of 'government policies' factor.
- On aggregate demand, aggregate supply of the economy as a whole (concern of Macro Economics). Macro Economic Concept Eg : AD = C+I+G+NX, government expenditure decrease (tax increase) reduces AD.
So: Impact of higher tax can be examined by both Micro Economist & Macro Economist, depending upon the kind of study.
Answer:
What is a common characteristic of careers in the information support services pathway? choose all answer that are correct
Explanation:
These are the following common careers in the information support services pathway that anyone can pursue as a career.
- Computer Support Specialist.
- Computer System Engineer/Architect.
- Data Warehousing Specialist.
- Database Architect.
- Computer Support Specialist.
The computer support specialists mostly provides technical support to the company's customers ,employees or a certain organization. Such specialist guide and advice about the usage of the different software and hardware. Such specialists helpful for troubleshooting of different software and hardware devices.
2. Computer System Engineer/Architect.
A computer engineer is the one who develop the computer system. He/ she is responsible for the development, design ,testing and implementation of the system. Moreover, it gives the hands on training and advice related to the usage of the computer system.
3. Data Warehousing Specialist.
Data warehouse specialists are usually responsible for managing the larger data set in an organised form. Such computer experts are responsible for keeping the data in a proper format and such data is easy for retrieval as well. These are called the data scientists. They simply able to slice the data ,analyse the data and give reports to the business owners those could take decisions on the business.
4. Database Architect.
Database architects are usually manage the large scale of data sets. They store the data electronically in a proper way that such data sets would be used to take the decisions on larger scale as well. The data sets of larger companies and agencies use to be managed in such a way that the reports and businesses decisions used to be made by using such big data sets. Database architects are responsible for the management of data in a proper and organised form. They store the data by using different software and the time of need such data sets will be used. Database architects are playing role in the growing business of the country.
