The goal of a country with a healthy economy is to have cyclical unemployment equal to zero.
An economy is the area of production, distribution, trade and consumption of goods and services. Generally, it is defined as a social domain emphasizing practices, discourses, and material expressions related to the production, use, and management of scarce resources.
The economy is the system in which goods are produced and exchanged. Without a viable economy, the nation will collapse. There are three main types of economies: free market, command economy, and mixed economy.
An example in the economy is the US stock market system.
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Creative destruction is the creation of new products and production methods that completely destroy the market positions of firms wedded to existing products and older ways of doing business.
Creative destruction is the constant process and product innovation mechanism through which new production models replace obsolete ones. This restructuring process pervades the main features of macroeconomic performance, including lengthy growth and changes in the economy, structural adjustment, and factor market functioning.
Over time, the practice of creative destruction is responsible for more than half of all productivity growth. Restructuring typically decreases during recessions at business cycle frequency, adding a massive expense to downturns. Obstacles to the creative destruction process can have serious long- and short-term macroeconomic consequences.
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<span>Marvin, the CEO of his company had taken decisions in the past which did not help in the growth of the company, when compared to other companies in the market.
After 10 years, they have received a non-temporary and highly paid contract. It is advisable for Marvin to choose the requirements of the client in order to build up the company with a high winning ratio.
Marvin should bid on the project so that it will improve the financial rate of the company and also help in employing many people. It might also help in getting new projects in the long run.
The main factors that should be considered by the company are the estimated cost, materials, and manpower.
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Try to find a mortgage to buy a house
Answer:
The journal entry for disposal of equipment will be as follows;
Explanation:
Accumulated Depreciation Dr.$98,000
Cash Dr.$40,000
Loss on disposal (150-98-40) Dr.$12,000
Equipment Cr.$150,000