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LuckyWell [14K]
3 years ago
13

As a proponent of the free market, Adam Smith viewed the main factors of production as labor, land, capital and entrepreneurship

.
True or False?
Business
1 answer:
hjlf3 years ago
3 0
The four main components of production are labor, land, capital and entrepreneurship as defined by Adam Smith. Labor refers to amount of work put into the production. Productivity is an index of how good the production performs. Land refers to the space. This is where the other element: labor is located. It is a passive element and the least important one among the factors. Capital is the starting investment to put up the production and lastly entrepreneurship is the technique used to sustain the business.Entrepreneurs are so called the agents of growth. These ideas are all included in Adam Smith's <span>Theory of Development in Economics. </span>
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S buys a $50,000 whole life policy with a 50,000 accidental death and dismemberment rider. S dies 1 year later of natural causes
Nonamiya [84]

Answer:

Insurer pay the beneficiary = $50,000

Explanation:

Data provided in the question:

Amount of the policy bought by the S = $50,000

Accidental death cover = 50,000

Now,

When the S dies the insurer will pay the beneficiary the total amount for which is covered under the accidental cover i.e equal to the amount 50,000

hence,

Insurer pay the beneficiary = $50,000

3 0
3 years ago
alvin Tucker is in the process of launching an educational services firm. He plans to incorporate the firm. Because the firm wil
Sever21 [200]

Answer:

________________________________

<em>alvin Tucker is in the process of launching an educational services firm. He plans to incorporate the firm. Because the firm will be incorporated, Calvin is legally required to have a </em><em><u>board of </u></em><em><u>directors</u></em>

________________________________

<em>The </em><em>role </em><em>of </em><em>Directors</em><em> </em><em>on </em><em>a </em><em>board </em>

<em>representative</em><em> </em><em>of</em><em> the</em><em> </em><em>company's</em><em> </em><em>share</em><em>h</em><em>older </em><em>to </em><em>overs</em><em>ee </em><em>the </em><em>management</em><em> </em><em>of </em><em>the </em><em>company</em><em>.</em>

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5 0
2 years ago
The Sarbanes-Oxley Act in 2002 was created to protect consumers against false advertising by monopolies.
Igoryamba

The statement "The Sarbanes-Oxley Act in 2002 was created to protect consumers against false advertising by monopolies." is false.

Sarbanes-Oxley Act placed the obligation of responsibility for a company's financial reporting squarely on the shoulders of its top executives in order to safeguard investors from corporate accounting fraud.

It required chief executive officers (CEOs) and chief financial officers (CFOs) to personally attest to the correctness of the information in financial reports and to affirm that controls and procedures were in place to evaluate and verify that accuracy.

In reality, CEOs and CFOs had to personally certify that financial reports complied with Securities and Exchange Commission(SEC) rules by signing them. Failure to comply with this might result in fines of up to $15 million and 20-year prison terms.

Hence, the given statement is false.

Learn more about the Securities and Exchange Commission:

brainly.com/question/3798508

#SPJ1

3 0
1 year ago
Which of the following statements is true? a. The word theory means same for both economists and laymen. b. Abstraction forms an
VladimirAG [237]

Answer:

B) Abstraction forms an important part of economic analysis.

Explanation:

Economic abstraction refers to ignoring certain factors while doing economic analysis. Some minor or even important economic details must be assumed when trying to analyze certain situations. That is why economists love to use ceteris paribus (everything else constant). Macroeconomic theory is impossible to prove in a scientific way, only certain microeconomic theories can be tested scientifically. In order to perform macroeconomic analysis, economists must simplify the real world, since economy is too complex and has too many factors that can alter any possible analysis. It is impossible to analyze a nation's economy as a whole since millions of people and businesses make billions of economic decisions very day.

3 0
3 years ago
Profits of a large corporation are taxed twice, once as corporate income and again as personal income of stockholders.
Alex Ar [27]
True, profits of a large corporation are taxed twice, once a corporate income and again as personal income of stockholders. This is because the corporation is taxed when they earn the profit but then the stockholders are taxed as it is paid out as income/earnings. 
6 0
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