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3 years ago

According to Adam Smith, which of the following is necessary for the proper functioning of the market system?

Business

1 answer:

nlexa [21]3 years ago

4 0

Answer:

The correct answer is the option C: For markets to work, people must be free to pursue their self-interest.

Explanation:

To begin with, Adam Smith was a Scottish economist, philosopher and author known as ''The Father os Economics'' and whose works established the basics of today's economics.

To continue, in Smith's most known classic work, ''An Inquiry into the Nature and Causes of the Wealth of Nations'', he established the concept called the ''invisible hand'' that states that in order to the economy to work properly, the people must be free to pursue their self-interest products without no restrictions from the government.

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If W. Edwards Deming was your management consultant, he would emphasize

VARVARA [1.3K]

Answer:

Letter A. Quality through constant innovation and quality assurance training.

Explanation:

Alternative A is correct, as W. Edwards Deming was a pioneer scholar in the application of organizational quality management.

He was responsible for creating the 14 points, which are principles for management that will help the organization to achieve total quality. He was also responsible for popularizing the PDCA Cycle (PLAN, DO, CHECK, ACT), which is a strategic tool widely used worldwide to ensure continuous improvement and the quality of processes and products.

PLAN: define objectives, methods and resources.
DO: Perform, educate and train.
CHECK: Measure and evaluate
ACT: act correctly.

Continuous improvement can be achieved through the correct and targeted use of the PDCA cycle towards organizational objectives. For Deming, without continuous improvement, there is no survival of the organization in the market, so he argues that continuous improvement must be implemented in all phases of the project, to achieve the benefits of continuous improvement of processes, increased productivity and reduced costs.

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4 years ago

Is it reasonable to assume that treasury bonds will provide higher returns in recessions than in booms?

Annette [7]

It is indeed reasonable.We know this because interest rates rise when the economy is booming and fall when the economy goes into a recession which is known as procyclic movement. What happens is that during recessions the government usually tries to keepcinterest rates low in order to stimulate investment. It is good because bond prices and interest rates go in opposite directions so bond prices will rise when recession starts.

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3 years ago

Read 2 more answers

Pierce Chocolates and Berry Sweets both have new projects that require an initial investment of $450,000 and will have annual ca

Rom4ik [11]

Answer:

Explanation:

Using a financial calculator, input the following using the "CF" button;

Pierce Chocolates has 5 years of cash inflows;

Initial investment ; CF0 = - 450,000

Yr1 Cashflow; CF1 = 110,000

Yr2 Cashflow; CF2 = 110,000

Yr3 Cashflow; CF3 = 110,000

Yr4 Cashflow; CF4 = 110,000

Yr5 Cashflow; CF5 = 110,000

Then compute Internal rate of return; IRR CPT = 7.09%

Berry Sweets has 6 years of cash inflows;

Initial investment ; CF0 = - 450,000

Yr1 Cashflow; CF1 = 110,000

Yr2 Cashflow; CF2 = 110,000

Yr3 Cashflow; CF3 = 110,000

Yr4 Cashflow; CF4 = 110,000

Yr5 Cashflow; CF5 = 110,000

Yr6 Cashflow; CF6 = 110,000

Then compute Internal rate of return; IRR CPT = 12.18% hence higher.

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3 years ago

Why do individuals do what they do? A. Managing politics and power struggles at Goldman Sachs to ensure that customer needs are

Kay [80]

Answer: C. Motivating a new customer service employee at Aflac Insurance with a work-from-home day if performance targets are met

Explanation: The question required one to match the examples to the correct element according to the framework of the book.

According to the book, individual do what they do "Motivating a new customer service employee at Aflac Insurance with a work-from-home day if performance targets are met" .

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4 years ago

When preparing a formal business presentation, the phase that can make or break your report is the _______ phase.

Luda [366]

The right answer for the question that is being asked and shown above is that: "d. organization." When preparing a formal business presentation, the phase that can make or break your report is the organization phase.

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3 years ago

Read 2 more answers

According to Adam​ Smith, which of the following is necessary for the proper functioning of the market​ system?

According to Adam Smith, which of the following is necessary for the proper functioning of the market system?