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jenyasd209 [6]
3 years ago
9

Socialism is __________. a) an economic system based on private property and market exchange. b) an economic system where the go

vernment owns property and controls production. c) an economic system organized without private property and based on the principle that individuals should be able to consume societal resources based on their needs, not their ability. d) an economic system where buyers, sellers, and producers engage in the exchange of commodities and services.
Business
1 answer:
Inessa [10]3 years ago
8 0

Answer:

The correct answer is B. An economic system where the government owns property and controls production.

Explanation:

Socialism is an economic system where everyone in society equally owns the factors of production.

Under socialism, workers are no longer exploited because they own the means of production. Profits are spread equitably among all workers according to their individual contribution. But the cooperative system also provides for those who can't work. It meets their basic needs for the good of the whole society.

The system eliminates poverty. It provides equal access to health care and education. No one is discriminated against.

You might be interested in
At Fantastic Flavors, a large regional chain of candy stores, employees from marketing, design, production, and finance departme
k0ka [10]

Answer:

The answer is: C) team-based new product development

Explanation:

Team based new product development: When a company assembles a cross functional team of employees form different departments to work on the development of new products or services.

This approach has the advantage of saving time over the traditional process of passing a new product from one department to another.

5 0
3 years ago
The typical family on the Planet Econ consumes 10 pizzas, 7 pairs of jeans, and 20 gallons of milk. In 2016, pizzas cost $10 eac
jasenka [17]

Answer:

increase in cost of living of 9.09%

Explanation:

The cost of living for 2016 is goven as

(10 pizzas*$10) + (7 jeans * $40)+ (20 gallons of milk * $3)

= 100 + 280 + 60= $440

The cost of living from 2017 is

(10 pizzas*$14) + (7 jeans * $40)+ (20 gallons of milk * $3)

= 140 + 280 + 60

= $480

The percentage increase in cost of living between 2016 and 2017= (Cost of living in 2017/cost of living in 2016)* 100

= {480/440}* 100

= 109.09%

So there was a increase in cost of living of 9.09%

8 0
3 years ago
The CEO of the Wholesome Food retail grocery chain, which specializes in organic and natural produce and meat, has stated, "The
givi [52]

Answer:

TRUE

Explanation:

The CEO 's belief that he has placed his firm in a slow-cycle industry where <u>concerns about protecting unique competencies dominate concerns about market share,</u> is true

Basically, the CEO operates in a niche market as is reported in the scenario

<u>Niche marketing refers to competing within a narrowly defined market segment with a specialized offering.</u>

Most small businesses are generally not niche marketers; they simply have a very small share of a large segment <u>whereas niche marketers have a large market share in a small/tight segment. </u>

Having therefore established his Niche business in a small segment where he has a large market share (otherwise it would not be a niche business), <u>the concerns will be about protecting unique competencies rather than market share</u>

<u />

3 0
3 years ago
Suppose that, in a competitive market without government regulations, the equilibrium price of donuts is $1.00 each. Indicate wh
vodomira [7]

Answer:

1. Price ceiling, Binding

2. Price ceiling, Binding

3. Price floor, binding

Explanation:

Price ceiling is a government or group control limit on how high a product, commodity or service can be charged.

Price floor is a government or group limit on how low a product, commodity or service can be charged.

Binding simply means you are legally bound to something while non-binding means you are not legally bound to it.

8 0
3 years ago
When a company expands by entering new business areas, it is called growth through __________?
garri49 [273]
When a company expands by entering a new business area, it is called growth through diversification. 

Diversity is the means of being different, new, exciting.. something not like another. When a business enters something new, it's called diversification because it's not like what they've done before. With this comes risk but huge growth potential.
7 0
3 years ago
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