1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
tatiyna
3 years ago
7

How is it that people working in their own self-interest produce goods, services, and wealth for others?

Business
1 answer:
Brums [2.3K]3 years ago
8 0

Answer:

Explanation:

In order to earn money and produce goods that improve lives, self-directed gain would provide jobs, and subsequently wages for others.

The way people can become wealthy by their own efforts is to sell what they produce to others. As the business grows, labor is hired to produce more. This is the 'invisible hand' concept that turns self-directed gain into social and economic benefits for all.

You might be interested in
For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP
aliina [53]

Answer:

(a.) The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore. – <em><u>This will fall under the category of Government Spending(G)</u></em>

Reason: In this case the government is utilizing money in order to construct highway that will benefit public.

(b.) Musashi buys a sweater made in Guatemala –<em><u>This will fall under the category of imports(M)</u></em>

Reason: The product/commodity is being produced outside domestic boundaries, hence it is calculated under imports

(c.) Rina gets a new refrigerator made in the United States. - <em><u>This will fall under the category of consumption(C)</u></em>

Reason: Commodities produced within the domestic boundaries and further consumed or bought within domestic boundaries will be calculated under consumption

(d.) Rina's father in Sweden orders a bottle of Vermont maple syrup from the producer's website. - <em><u>This will fall under the category of exports(X)</u></em>

Reason:  Here the maple syrup is being delivered to a third party living abroad so it will be calculated under export .

(e.) Musashi's employer upgrades all of its computer systems using U.S.-made parts. - <em><u>This will fall under the category of investment(I)</u></em>

Reason:  Money spent to upgrade the system in order to increase productivity and this indeed will have an effect for a long duration. Therefore it'll be seen as an investment.

6 0
3 years ago
If bids on keywords in a bid strategy are manually overwritten, how long will it take for the bid strategy to resume bidding on
muminat

Answer: 24 hours

Explanation:

When the max CPC is manually overriden, the new max CPC will remain for 24hours, this would make the search Ads 360 optimization system not to update the max CPC during this time. After 24hours margin, the search Ads 360 will resume optimizing your bids inorder to meet the goals of bid strategy in turn starts the max CPC manually.

5 0
3 years ago
Based on the influence chart below, the decision variable(s) for this model a. Price and elasticity b. Price and fixed cost c. P
Troyanec [42]

Price is the decision variable in the given model.

Answer: Option C.

<u>Explanation:</u>

For a model which is related to the field of commerce and affects a particular organisation or a firm, for that price is the most important factors. Because fixing the price at a particular level will help the firm earn profits and maintain position in the market.

Price is the cost of the product which is available to the customers in the market. The consumers have to pay that price to get a particular quantity of that particular product.

7 0
3 years ago
What is the maximum number of bitcoins that will ever enter circulation?
Helen [10]

A pre-defined algorithm limits the total number of bitcoins such that quantities gradually approach a total of 21 million. The limit of 21 million bitcoins is "hard-wired" in to the protocol, and there will never be more bitcoins than this

5 0
3 years ago
HELP
raketka [301]

Answer:

A, From the business perspective

Explanation:

Supply will always be determined by businesses as the supply will be based on their everlasting drive to increase profits. By being able to decrease supply (shift the graph to the left) or increase (shift to the right) they will be able to maximize their profits based on their needs (ATC, Opportunity cost, marginal/revenue costs)

7 0
3 years ago
Other questions:
  • Demand for food doesn't change in response to a change in price. Why? 
    8·2 answers
  • he company rented an office for $ 3600 per month starting from January​ 1, 2018. On that​ day, ABC prepaid the rent through June
    13·1 answer
  • In 2009 and 2010 Toyota had to recall millions of automobiles due to uncontrollable acceleration. This recall forced upper-level
    7·1 answer
  • During 2018, Hardy Merchandising Company purchased $40,000 of inventory on account. Hardy sold inventory on account that cost $2
    5·1 answer
  • During the year, Bears Inc. recorded credit sales of $620,000. Before adjustments at year-end, Bears has accounts receivable of
    15·1 answer
  • Why did volunteerism fail?
    7·1 answer
  • In the Solow growth model without population growth or technological progress, if investment is greater than depreciation, the c
    15·2 answers
  • In an effort to make better and more efficient purchase decisions, the Ford Motor Co. includes various people, depending on the
    14·1 answer
  • Let's say you want to open a shoe store that will specialize in high-end shoes. But before you do, you want to determine how man
    14·1 answer
  • How does a parent perform the functions of organizing in management?
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!