Answer:
The correct answer is c. actual market outcomes provide a higher price than the efficient price of education.
Explanation:
In any country, there is a close positive correlation between a greater number of years of study and income, just as a higher degree of education is related to a lower incidence of poverty. In general, knowledge provides a great deal of benefits to its holders, so why might a government policy for investment in human capital be necessary? The answer could be that knowledge generates a series of “external benefits”, which are not always considered by people when making their decisions.
Economic activities generate costs and benefits, which can be private or external. In this way, whoever studies obtains a benefit for himself, for example a better salary, as explained above. That is the private benefit. But a series of external benefits are also generated, for example, the possibility of being better citizens, of improving the communication and performance of people in society, of generating new solutions to different human problems, among many others. Likewise, research and development activities lead to obtaining new knowledge. All these benefits are obtained thanks to preschool, primary, secondary, technical, university education, job training, among others.
Answer: By implementing the principles of management such as planning, organization, leadership and control, it would influence the dynamics of the company, which would automatically improve processes.
Explanation: If managers ensure that the actions are implemented correctly, the organizational culture will work according to the principles and the results can be measured.
Answer:
d. contracts drafted under a common law system tend to be longer than those drafted under a civil law system.
Explanation:
Common law can be defined as a set of unwritten laws which are primarily based on precedent court decisions, tribunal decisions and customs and are usually employed in similar court judgments and rulings that cannot be determined by existing statutes.
On the other hand, civil law can be defined as a set of law which regulates private or personal matters such as family matters, marriage, property, contracts etc.
When comparing contracts in common law and civil law systems, it can be said that contracts drafted under a common law system tend to be longer than those drafted under a civil law system because the drafters of contracts under civil law are able to rely on codified and standard default rules.
Answer:
1a. Payback period = <u>Initial outlay</u>
Annual cost saving
= <u>$484,500</u>
$85,000
= 5.7 years
b. The equipment should not be purchased because it has a longer payback period than the company's required payback period.
2a. $
Annual cost saving 85,000
Less: Depreciation <u>40,375</u>
Annual profit <u>44,625</u>
Simple rate of return = <u>Annual profit</u> x 100
Initial outlay
<u>$44,625</u> x 100
$484,500
= 9.21%
Depreciation = <u>Cost - Residual value</u>
estimated useful life
= <u>$484,500 - 0</u>
12 years
= $40,375 per annum
2b, The equipment should not be purchased because the simple rate of return is lower than the company's required rate of return.
Explanation:
Payback period is the ratio of initial outlay to annual cost saving. It is the period in which the initial outlay is recouped.
Simple rate of return is the ratio of annual profit to initial outlay. It measures the rate of return on capital invested.