Answer:
A market economy is an economic system in which the decisions regarding investment, production and distribution are guided by the price signals created by the forces of supply and demand. The major characteristic of a market economy is the existence of factor markets that play a dominant role in the allocation of capital and the factors of production.Market economies range from minimally regulated free-market and laissez-faire systems where state activity is restricted to providing public goods and services and safeguarding private ownership, to interventionist forms where the government plays an active role in correcting market failures and promoting social welfare. State-directed or dirigist economies are those where the state plays a directive role in guiding the overall development of the market through industrial policies or indicative planning—which guides yet does not substitute the market for economic planning—a form sometimes referred to as a mixed economy.
Answer:
The statement is: False.
Explanation:
Contractors are independent parties who are hired to perform a determined work. They handled their operations as small companies managing their own personnel and operations within the physical location of another company or where the hiring company requests it.
<em>Among the duties of contractors, if they are dedicated to the construction industry, they can decide the process they will follow for mixing the concrete and the materials necessary for such purpose unless the hiring company establishes something different. In case of failure, they should find ways to replace the damaged items or structures but that does not imply the contractor loses its independent contractor status.</em>
Answer:
Technical profession is a highly skill based profession in which a practical knowledge is required.Example:engineering in civil,mechanical,computer e.t.c.
examines problems with two or more solutions by establishing criteria with which to compare the alternatives
The firm must ensure upgrading the departments core competencies through making sure that employees have the innate ability or skills demanded.
Firms that adopt the Cost leadership strategy does so to earn higher returns and competitive advantages through of offering of products at lowest prices in the market.
The core competencies in manufacturing and logistics includes pro-activeness, ability to handle documents properly, strategic thinking, forward thinking, logical decision-making, networking abilities etc
However, the firm must ensure upgrading the departments core competencies through making sure that employees have the innate ability or skills demanded.
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