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3 years ago

What are five basic principles found in a free enterprise system?

1 answer:

3 0

Here are the five basic principles found in a free enterprise system:
1) Governments have no control over the buying & selling of products & services. 2) The "invisible hand" of market supply and demand occurs 3) Governments may only be involved with to provide education, the army, and public health services (and other merit goods) 4) Governments may only provide public goods (such as lampposts) which bring no profit for sales people, as you cannot stop people from using those items. 5) Usually, there's a great difference in the distribution of wealth <span>
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According to a book by a Harvard Business School professor, some organizational cultures simply cannot meet the challenges posed

vekshin1

Answer:

A) Adaptability

Explanation:

The company could not adapt to the current trends in the market. organizational adaptability is concerned with how firms could quickly adjust their business processes to changes that enhances their growth and make give them the ability to compete with rivals.

Many advantages are embedded in adjusting to the trend in the market, one of which is:

1. They value their employees

2. They have a well defined goals

3. They become more creative

4 0

4 years ago

Read 2 more answers

A worker is indifferent between job one lasting 4 hours a day, job two lasting 8 hours a day, and job three lasting 12 hours a d

Tomtit [17]

Answer:

both (a) and (b) are true

That is:

a. job one pays less per day but more per hour.

b. job three pays more per day and more per hour.

Explanation:

An indifference curve is one that shows all combinations of a good or activity that gives the same level of satisfaction to the consumer, and so the consumer is indifferent.

In this instance the worker is indifferent between job one lasting 4 hours a day, job two lasting 8 hours a day (pays $10 an hour), and job three lasting 12 hours a day.

For the worker to be indifferent job one must pay more per hour and less per day. Whole job 3 wi pay more per day and more per hour.

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4 years ago

Which Human Services workers must have a strong sense of visual style in order to carry out the tasks for which they

Delicious77 [7]

Answer:

personal care service workers because they know what they are doing and are good

6 0

3 years ago

Read 2 more answers

The following is a list of various costs of producing T-shirts. Classify each cost as either a variable, fixed, or mixed cost fo

iren2701 [21]

Solution :

a. Ink used for screen printing --- Variable

b. Warehouse rent of $8,000 per month plus $0.50 per square foot of storage used --- Mixed

c. Thread --- Variable

d. Electricity costs of $0.038 per kilowatt-hour --- Variable

e. Janitorial costs of $4,000 per month ---- Fixed

f. Advertising costs of $12,000 per month ---- FIXED

g. Accounting salaries --- FIXED

h. Color dyes for producing different colors of T-shirts ----- Variable

i. Salary of the production supervisor ---- FIXED

j. Straight-line depreciation on sewing machines ----- Fixed

k. Salaries of internal pattern designers ----- FIXED

l. Hourly wages of sewing machine operators ------ Variable

m. Property taxes on factory, building, and equipment ----- Fixed

n. Cotton and polyester cloth ---- VARIABLE

o. Maintenance costs with sewing machine company (the cost is $2,000 per year plus $0.001 for each machine hour of use.) ---- Mixed

6 0

3 years ago

The Palmer Acres Inn is trying to determine its break-even point during its off-peak season. The inn has 50 rooms that it rents

Fynjy0 [20]

Answer:

in roms 425

in dollars 24,650

Explanation:

Operating fixed cost

salaries 5,500

utilities 1,200

depreciation 1,300

maintenance <u>4,325</u>

Total Fixed cost 12,325

Contribution per room:

$58 per night

-$10 maid

-$19 other

Contribution = 29

$\frac{Fixed\:Cost}{Contribution \:Margin} = Break\: Even\: Point_{units}$

12,325/29 = 425 rooms

$\frac{Fixed\:Cost}{Contribution \:Margin \:Ratio} = Break\: Even\: Point_{dollars}$

$\frac{Contribution \: Margin}{Sales \: Revenue} = Contribution \: Margin \: Ratio$

29/58 = 0.5

12,325/0.5 = 24,650

Also can be done:

BEPunits x Price per unit

425 x 58 = 24,650

4 0

4 years ago