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PtichkaEL [24]
1 year ago
13

Explain the importance of the primary sector and provide an example

Business
1 answer:
lesya692 [45]1 year ago
3 0

Hey there, your answer is below:

The input for the secondary sector comes from the primary sector. It comprises of all the raw materials that the secondary sector needs to process and produce goods. It generates money for some nations and can be considered "cash crops" because to its importance and worldwide commerce in sustaining the secondary sector, which is growing. This covers forestry, fishing, mining, and agriculture. In contrast, the tertiary sector creates services, while the secondary sector creates manufactured items. In less developed nations, the primary sector is frequently more significant than in industrialized nations.

Thank you,

Eddie

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According to globalization opponents what is a disadvantage of globalization?.
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According to globalization opponents, what is a disadvantage of globalization? Globalization results in companies "exporting jobs" to low-wage nations.

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4. Labour Institutions Act(10MKS)
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Answer:

  • Reduce discrimination.
  • Reduce exploitation.
  • Reduce inequality/ poverty.
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  • Economic growth.

Explanation:

It is necessary for the government to regulate wages because some companies might take advantage of little regulation to get away with many unjust and unethical actions as they chase profits or due to personal bias.

Without government regulation, there would be wage disparity between races and genders so regulation reduces that. Exploitation will also be reduced because companies will not take advantage of unemployment rates to make workers overwork themselves to keep their jobs.

Regulated wages will reduce inequality in social classes as well as poverty rates as people will be paid closer to what they deserve.

Regulated wages will also lead to improved productivity as people will be more encouraged when they are working knowing they are getting paid appropriately so they will work harder.

With people being paid appropriately, they will be able to afford more goods and invest more savings which will lead to growth in the economy.

4 0
3 years ago
The Maybe Pay Life Insurance Co. is trying to sell you an investment policy that will pay you and your heirs $31,000 per year fo
Whitepunk [10]

Answer: 6.51%

Explanation:

To get the interest rate at which the deal will be fair

Annual payment per year/ cost × 100

Perpetuity = D/r

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r = 31000÷ 476000

r = 0.06512

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3 0
3 years ago
Kendall Company has sales of 1,000 units at $60 a unit. Variable expenses are 30% of the selling price. If total fixed expenses
Lelu [443]

Answer:

There are several ways to compute the degree of operating leverage (DOL). A fairly intuitive approach is expressed below.

DOL = (sales - variable costs) / (sales - variable costs - fixed costs)

For Kendall, the DOL is computed as follows:

DOL = (1,000 * $60 - 1,000 * $60 * .30) / (1,000 * $60 - 1,000 * $60 * .30 - $30,000) = 3.5

<em>hope this helps</em>

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8 0
2 years ago
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