Answer:
The purpose of having a minimum wage is to guarantee that workers are paid fairly and not exploited.
Answer:b
Answer:
$1,667
Explanation:
Given that,
Savings account at the beginning of the year = $2,000
Price level at the beginning of the year = 100
Price level at the end of the year = 120
Price level increases from 100 to 120
Therefore, what was worth $120 earlier, is not worth only $100.
Hence, $120 at the beginning of the year is worth = $100 at the end of the year
$1 at the beginning of the year is worth = ($100 ÷ $120) at the end of the year
Savings of $2,000 at the beginning of the year is worth:
= ($100 ÷ $120) × $2,000
= 0.833 × $2,000
= $1,667
Therefore, the real value of the savings is $1,667.
The process to identify potential events that may affect the entity, and manage risk to be within its risk appetite, to provide reasonable assurance regarding the achievement of entity objectives is called risk assessment.
An entity refers to someone or enterprise owning separate and wonderful prison rights, inclusive of an individual, partnership, or organization. An entity can, amongst different things, personal assets, engage in enterprise, enter into contracts, pay taxes, sue, and be sued.
The entity name is the call used by an enterprise to enter into contracts and make other criminal or administrative commitments. alternatively, the business name is the name your commercial enterprise operates under and shares with its clients, customers, and employees.
That which has a wonderful life as an individual unit. often used for businesses that have no physical shape. An existent something that has the houses of being actual, and having an actual lifestyle.
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Both y and x is the correct answer
Answer:
1. Neither ; 2. Consumer Surplus ; 3. Producer Surplus
Explanation:
Consumer Surplus is the difference between a good's price paid by consumer, & maximum price the consumer is willing to pay for the good.
Producer Surplus is the difference between a good's price received by a seller, & minimum price at which the seller is willing to sell the good.
1. Willing to pay $209 for watch, buyer willing to sell at $196, no trade as price ceiling at $190 : It illustrates neither concept as transaction has not actually occurred, so no price established.
2. Willing to pay $39 for sweater, purchased it for $32 : It illustrates 'Consumer Surplus' case = $7 , as it shows difference between maximum willingness to pay by buyer ($39) & the actual buy price ($32)
3. Willing to sell laptop at $190, sold it at $199 : It illustrates 'Producer Surplus' case = $9 , as it shows difference between minimum willingness to sell price ($190) & actual sale price ($199)
