Answer:
Advantages of Informal Sector employment:
Some employers pay well because company owners do not have many tax obligations. Employee effort is directed towards achieving profit rather than satisfying irrelevant routines.
There can be a close and direct relationship with the employer, therefore making it easy to get permission when in need of time off.
You are saved the hassle of paying Pay As You Earn tax.
There’s no red tape when it comes to dealing with personnel issues which are expressly handled either by the employer him/herself, or a senior manager.
Sometimes employment is done on the spot with little emphasis on attending lengthy job interviews and countless aptitude tests.
Sometimes one is employed because of one’s personal relationship with the employer rather than on merit.
Disadvantages of Informal Sector employment:
Little or no job security.
Unprotected by labour laws.
Odd working hours.
No pension, insurance or health insurance scheme.
Summary dismissals.
Difficult to make any savings due to low wages.
A brief illness or injury or injury can mean no financial means to survive.
Explanation:
The question provides us with the following scenario: "Neil and Zack are working on a project that requires both research and presentation. Neil is better at research, so he gives the presentation to Zack. " A comparative advantage is when an agent is better at something or can produce something at a lower cost. Here, Neil can do research better, so the answer is: A.) Neil doing the research
Norming is the stage when a team becomes more cohesive and clarifies members' roles and responsibilities, team goals, and team processes
Answer:
The correct answer is the option D: path dependence.
Explanation:
To begin with, the concept called as <em>''path dependence''</em> in the field of management and economics, is known for refering to the situation where the past decisions of a person affects the current situation that the person is going through and therefore it is said that the dependence is in the path that the person choose.
To sum up, the scenario illustrated in the case of Iceberg Storage relates to a case of path dependence due to the fact that its managers decided to invested in something that the competitors did not and therefore to take risks knowing that a possible damage can occur in the future, and eventually it did.
Answer:
Russia and China used to be command economy with the property rights lying solely with the government and the means of production, except labour were owned entirelyby the government. However, the command economy demanded long term planning that needed to be ultra accurate.moreover the system it self gave rise ro bureaucracy and dictatorial regimes, increasing the power centralization and the state corruption and lessening the innovative spirit of the nation.
Capitalism got rid of most of the problems in the command economy. It was accompanied by the democratic reforms in Russia and this led to more transparency. Moreover, the capitalist style social market economy in China introduced private ownership and Entrepreneurship l along with the concept of state owned companies.
In addition, the function of the price mechanism was pivotal as well. Instead of thorough and detailed planning, the resources were distributed by the price and the market demand and supply.
Explanation:
