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2 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]2 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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Research indicates that male entrepreneurs tend to start their first significant venture in their middle 30s, while women entrep

Dmitry [639]

Answer:

False

Explanation:

According to Pamela Webbers research in the U. S

40% of men started their first entrepreneurial venture before the end of their 35th year, while only 33% of women fell into this category.

4 0

3 years ago

INSTRUCTIONS: Click the link to the Georgia Department of Driver Services website: https://dds.georgia.gov/ (Links to an externa

4vir4ik [10]

Answer:

Explanation:

for Class C vehicles – available to 16-year-olds if they have held a class CP license for at least 1 year and 1 day; have not been convicted of any major traffic violations; meet school enrollment requirements, and have completed a Driver’s Education course consisting of classroom and behind-the-wheel training. Teens not wanting to satisfy the Driver’s Education requirements may wait until they are 17 years of age to obtain their Class D license; all other requirements must be met. Required to pass a road test. Class D license holders are limited to the following conditions:

cannot operate a motor vehicle between the hours of 12:00 AM and 5:00 AM,

during the first six-month period after issuance, cannot operate a motor vehicle with any passenger who is not a member of the driver’s immediate family (defined as the license holder’s parents and step-parents, grandparents, siblings, and step-siblings, children, and any other person who resides at the license holder’s residence)

during the second six-month period after issuance, cannot operate a motor vehicle with more

than one passenger under the age of 21 who is not a member of the driver’s immediate family, and

for the remainder of the Class D license period, cannot operate a motor vehicle when more

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7 0

3 years ago

Read 2 more answers

Xinhong Company is considering replacing one of its manufacturing machines. The machine has a book value of $40,000 and a remain

mafiozo [28]

Answer:

Xinhong Company

Alternative A Alternative B

1. If Alternative 2 is adopted,

the change in net income ($8,550) $3,400

2. Xinhong should replace its manufacturing machine with Alternative B.

Explanation:

a) Data and Calculations:

Old Machine Alternatives 2

Alternative A Alternative B

Book value $40,000

Current market value 50,000 $121,000 $118,000

Variable manufacturing cost 33,700 22,000 10,800

Useful life 4 years 4 years 4 years

Straight-line Depreciation exp. 10,000 30,250 29,500

Total annual costs $43,700 $52,250 $40,300

If Alternative 2 is adopted,

the change in net income ($8,550) $3,400

With Alternative A, the change = reduced net income by $8,550 ($52,250 - $43,700)

With Alternative B, the change = increased net income by $3,400 ($43,700 - $40,300)

3 0

3 years ago

Alma Corp. issues 1,000 shares of $10 par value common stock at $16 per share. When the transaction is recorded, credits are mad

matrenka [14]

Answer:

The correct answer is Option is B.

Explanation:

The par value of shares is simply the stated value of shares in the company's books, as set out in the company's charter.

The full necessary journals to record the above transactions are:

Debit Cash (1,000 x $16) $16,000

Credit Common stock (1,000 x $10) $10,000

Credit Paid-in capital in excess of par value - common $6,000

(To record issuance of common stock)

So, the correct option is B.

4 0

3 years ago

When asked about those people who say his Sriracha sauce is too spicy, David Tran jokingly suggests they "use less" of the produ

miskamm [114]

Answering the question, Sriracha's use of a single marketing mix for all potential customers means that the company is using: undifferentiated approach. This implies the correct answer is D.

The undifferentiated approach takes place when a marketer does not take into account the differences that exist within the market but decides to use a mass marketing strategy with the purpose to appeal to the greatest number of people. In other words, the marketer regarded the market to be heterogeneous aggregate.

<h2>Further Explanation</h2>

Undifferentiated marketing is also called mass marketing, this type of marking approach focused on television, radio, and newspapers to reach out to a large audience.

When the company uses this medium to reach out to the larger audience, it maximized the exposure of the company’s product. Theoretically, this is directly tied to huge sales or increases the number of potential buyers.

This approach involves the spreading of marketing messages to a huge number of people and also with the hope of reaching out to several people who might have an interest in the product.

The company involves in general advertising to mass market its product with the purpose that it will get the attention of some people.

Some of the benefits of using undifferentiated approach include

Larger audience
The risk involved is very less
The approach involves less research

Learn more about undifferentiated approach at:

brainly.com/question/9991216

#learnwithbrainly

3 0

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?