Free market economies allocate resources through demand and supply with minimal government intervention.
private ownership- all factors of production within the economy are owned mainly by private individuals and organizations.
Free enterprise- owners of factors of production and producers of a goods and services a free to produce what they want through the market forces of demand and supply.
Competition- <span>Companies have a competitive drive, thus better quality goods and more variety of products which are at lower prices. (more productively efficient )</span>
Answer:
Explanation:
U(C, L) = (C – 100) × (L – 40)
(a) C = (w - t)[110 - L] + 320
C = 10[110 - L] + 320
C + 10L = 1420
where,
C- consumption
w - wages
t - taxes
L - Leisure
(b) Given that,
L = 100 then,
C = 420
= 5.33
(c) L = 110
C = 320
Reservation wage:
= 3.14
(d) At optimal level,
C - 100 = 10L - 400
C - 10L = -300
C = 10L - 300
Using budget constraint:
C + 10L = 1420
10L - 300 + 10L = 1420
20L = 1720
L* = 86 and C* = 560
Answer:
The average lease payment for a new vehicle is just over $450 per month for a three-year lease, according to Experian's Q1 2019 State of the Automotive Finance Market report. That's about $100 less than the average monthly auto loan payment for a new car, which was $554.The average monthly payment on a new car was $523 in the first quarter of 2018, according to credit reporting agency Experian. But that's far from the true cost to own a car. For vehicles driven 15,000 miles a year, average car ownership costs were $8,469 a year, or about $706 a month, in 2017, according to AAA.
The choice between buying and leasing has often been a tough call. On one hand, buying involves higher monthly costs, but you own something in the end. On the other, a lease has lower monthly payments, but you get into a cycle where you never stop paying for a vehicle.
Explanation:
It was very good I lead them army of students at a football team
Answer:
Rewarding behavior, not just results
Explanation:
Effective recognition means that you have to recognize the effort that being put by the person , not just the ideal outcome.
Let's say that you want to influence your employees to improve their productivity. There is a chance that some might fall and some might succeed.
Those who fall does not necessarily make lesser effort than those who success. There is a chance that they're focusing their effort on the wrong things.
In such situations, you need to acknowledge and reward the fact that they're willing putting the effort and give them advice on how to nudge the effort's direction so it become more effective.
