The World Trade Organization (WTO) is the global international organization that deals with trade rules between different nations. The World Bank handles all financial assitance with developing countries around the world. Though they both help different nations, one handles the trade between nations and the other handles financial monetary assets.
Question 2 options are;
- government
- market
- firm
- business sector
Answer:
1. microeconomics concentrates on the behavior of individual consumers and firms, while macroeconomics focusses on the performance of the entire economy.
2. government.
Explanation:
1. Indeed, the government in a command economy (like China) makes most economic decisions itself or at least strongly influences how the decisions are made.
2. We note that the word 'macro' indicates large scope, while 'micro' indicates a smaller scope. And so, the difference is that microeconomics concentrates on the behavior of individual consumers and firms, while macroeconomics focusses on the performance of the entire economy.
Answer:
maximum
Explanation:
The newsvendor model may be defined as the mathematical model which is characterize by the fixed prices as well as the uncertain demand for the perishable products. This model is mainly used to determine the optimal inventory level.
According to the newsvendor model, there is only one opportunity to order. The cost of buying large quantities of the products may result in disposing them or selling the products at a lower price.
The optimal ordering quantity is maximum when the underage cost is higher than the overage cost.
Answer:
Cumulative voting
Explanation:
Cumulative voting - in this type of voting system sole right is given to shareholder who is in minority to elect their director. this system permit shareholder to cast all their vote for any single nominee for board of directors.
while in regular voting system no permission is granted to anyone to cast more than one vote.
example - for four member and 500 holding share , maximum vote than can cast is 500 (one vote for one share) in normal voting but in cumulative maximum that can cast is 2000 votes
Answer: the options are added below:
A. market forces would quickly direct an economy back to full employment.
B. lower wages would cause the central bank to reduce the money supply and thereby prolong the recession.
C. lower wages would stimulate inflation and thereby prolong the recession.
D. powerful trade unions and large corporations made wages highly inflexible.
The correct option is D.
Explanation: A Trade Union is also known as a labour union and it is an association of workers in a particular trade, industry, or company that is created for the aim of negotiating improvements in wages and salaries, benefits, better working conditions, or social and political status through collective bargaining.
The view of Keynes is that the trade unions that have become powerful have, in conjunction with large corporations, made wages highly inflexible.
What this means is that they always make sure that there will be no supply of labor if the wages are low, therefore Keynes is of the view that lowering wages will not direct a recessionary economy back to full employment, rather, increasing the wages will ensure that the trade unions and large corporations supply labor and therefore increase employment.
