Explanation:
Concept of National Income
The National income is the total amount of income accruing to a country from economic activities in a year time. It includes payments made to all resources either in the form of wages, interest, rent, and profit.
Answer:
right to private property and inheritance
Explanation:
The capitalistic system states that individuals are allowed to own their and enjoy their own personal property. In each country laws generally subordinate the right to private property to the well being of society.
The right to inheritance refers to the right that an individual has to decide who will own his/her properties after they pass away. Unless stated otherwise, a person's offsprings are generally entitled to inherit the person's properties.
In this case, Chet is entitled to own his landscaping business (private property) and when he passes away his son, Josh, will inherit it.
Answer:
a. reaction
Explanation:
<u>Participant reactions</u> are the most basic way to see how they assessed the training and development evaluation made by the HR department. Although the behavioral change would fully reflect how the development and training actually went, it takes time to see when and how employees will implement the learnt skill or knowledge in work.
Therefore, the easiest and least expensive way to measure satisfaction and get timely feedback is to follow the reactions of the participants.
Answer:
c. Minimum "price" that is above equilibrium price
Explanation:
if the minimum wages is below equilibrium then it will be ineffective as there wasn't any agent willing to trade his labor at this rate.
The minimum wages must be placed above equilibrium to be effective. This will force both, laborers who were willing to work for less and employees whose intention were to pay less than minimum to trade at minimum wage.
Answer: First-Mover Advantage
Explanation:
The FIRST MOVER is a SERVICE, PRODUCT or COMPANY that gains a COMPETITIVE ADVANTAGE by getting to a market first.
Advantages of this include being able to establish Strong Brand and Customer Loyalty before competitors come into the market and the opportunity of extra time to perfect marketing and production strategies to fully capitalise on market share.
First movers are usually followed by competitors immediately but more often than not, the first mover has established such a strong market share and a solid enough customer base that it maintains the majority of the market.
