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nekit [7.7K]
4 years ago
8

Economic models are typically based on the principle that people behave rationally. However, people do not always behave rationa

lly. Which of the statements is NOT a reason why economists still consider their models valid, in spite of the irrationality of people?
Business
1 answer:
BartSMP [9]4 years ago
3 0

Answer:

<em>because the existing models have been in place for so long, they are considered untouchable, the equivalent of an economic law.</em>

Explanation:

The rational economic model is even more widely used in economics because it is easier to measure. Although people have irrational behaviors, they are more subjective, which makes the rational model still the most used by the economy, because through it is possible to measure behavior patterns, statistical data and information relevant to the economy.

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In the context of the compensation of different groups in a company, an important characteristic of special groups is that _____
Andreyy89

The positions of the members of special groups are characterized by inherent conflicts.

<h3>What is Inherent conflicts?</h3>

When an insurer owns 100% of an insurance broker, and that broker recommends that insurer's products, there is an inherent conflict of interest that persists.

A methodical technique to giving employees financial value in exchange for their labor is called compensation. Compensation can help with recruitment, job performance, and job happiness, among other things. Compensation typically refers to a monetary payment made to a person in exchange for their services.

Employees earn pay at their places of employment. It includes income or wages, commission, as well as any bonuses or benefits that are connected to the particular employee's employment.

Hence, In the context of the compensation of various groups in a company, an important characteristic of special groups is that The positions of the members of special groups are characterized by inherent conflicts.

To learn more about Inherent conflicts refer to:

brainly.com/question/1341353

#SPJ4

8 0
2 years ago
Which industry is an example of monopolistic competition
Black_prince [1.1K]
<h2>Independently owned and operated high-street stores and restaurants is an example of monopolistic competition.</h2>

Explanation:

The model of monopolistic competition describes a common market structure in which firms have many competitors, but each one sells a slightly different product.

  1. Clothing industry- Marketing and branding is the main separator between different evidently similar black shirts.
  2. The fast-food industry-  where a burger made by McDonald’s is quite similar to a burger made by Burger King, though consumers usually have a preference between the two chains.
  3. Independently owned and operated high-street stores and restaurants- In the case of restaurants, each one offers something different and possesses an element of uniqueness, but all are essentially competing for the same customers.
8 0
3 years ago
Complete the sentences with the correct function of money. Norah walks into her favorite department store, Bullseye, to pick out
Illusion [34]

Answer: Unit of account

Store of value

Medium of exchange

Explanation: Money has three functions:

Unit of account

Store of value

Medium of exchange

Unit of Account- Money can be used as a measure in determining value of goods and services. Norah compared the price of the dress to determine the dress costs less.

Store of value- money retains it value over periods of time, therefore it can be used to store value. Norah is saving money in a piggy bank.

Medium of exchange - money is used to facilitate transactions: it can be used to exchange for goods and services. Norah exchanged money for a dress.

I hope my answer helps.

4 0
3 years ago
Balance sheet and income statement data indicate the following:
QveST [7]

Answer:

the times interest earned ratio is 5.87 times

Explanation:

The computation of the times interest earned ratio is shown below:

Interest expense is

= Bonds payable × Interest rate

= $1,106,989 × 6%

= $66,419

Now

Times interest earned ratio is

= (Income before income tax for year + Interest expense) ÷ Interest expense

= ($323,108 + $66,419) ÷ ($66,419)

= 5.87 times

Hence, the times interest earned ratio is 5.87 times

4 0
4 years ago
What would one use Webex.com for? A. To hold an online meeting B. For online accounts payable CTo distribute e-mails to a mailin
olga_2 [115]
Is A first class on a plane
7 0
4 years ago
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