How can specialization benefit both producers and consumers in a free market economy?

1 answer:

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Specialization benefits buyers and sellers. Focusing on a limited number of related products or services allows them to use capital and labor more efficiently.So , buyers get better products at lower price and sellers sell more products and they manufacture more products at lower costs.

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Buying the beneficiary position on a life insurance policy of someone who is dying

MaRussiya [10]

Buying the beneficiary position on a life insurance policy of someone who is dying is referred to as Viatical Settlement

Explanation:

Viatical settlement refers to the sale of a life insurance policy by the owner to a third party for a amount which is more than its surrender value but less than its net death benefit.

Viatical settlement provides the policy owner with a lump some amount of money.

The viatical settlement is tax-free as per the Health Insurance Portability and Accountability Act (HIPAA) 1996

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3 years ago

Garrett makes and distributes copies of here we go again, a movie copyrighted by indie motion pictures, inc. Garrett does this w

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He may be liable for "damages, fines, or imprisonment."

Copyright law does not contain any proviso that enables unapproved gatherings to make individual duplicates of copyrighted items. Be that as it may, under the teaching of "reasonable utilize," people might be allowed to make reinforcement duplicates or authentic duplicates of a few materials as long as specific conditions are met. Making a duplicate of a copyrighted work for your very own usability is probably going to be considered copyright encroachment. Be that as it may, on the off chance that you are making a duplicate so you may utilize a copyrighted item on the off chance that the first is stolen, harmed or devastated, your direct may fall inside the teaching of reasonable utilize.

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3 years ago

Productivity is declining when: A) the number of hours worked exceeds the number of workers. B) population growth exceeds real G

SOVA2 [1]

Answer: b. When population exceeds real GDP growth

Explanation:

Gross domestic growth(GDP) is the monetary value of all finished goods and services done within in a country over a period of time. When the population of a country exceeds what it produces there would be record in decline in productivity of the country. This is a serious problem as it could lead to other factors as scarcity(having high demand and low supply), it could lead to poverty as there won't be much jobs as production is not commensurate with population.

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3 years ago

Read 2 more answers

1The main reason that U.S. currency cannot be turned in to the government in exchange for a tangible asset such as gold is that:

White raven [17]

The correct answer for the question that is being presented above is this one:
(1) B)People prefer tangible items, so the government would not be able to satisfy demand for the tangible item at any fixed rate of exchange
(2) B)Potential buyers of the assets of a bank, incorrectly rumored to be distressed, may suspect the assets to be of poor quality.
(3) C) The Federal Reserve ("the Fed") stands ready to inject reserves into the system more quickly in a crisis.
(4) A)Checkable Deposits / Required Reserves

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3 years ago

Product V72 sells for $20 per unit as is, but if enhanced it can be sold for $25 per unit. The enhancement process will cost $52

Furkat [3]

Answer:

It will incur an Opportunity cost of $8,000.

Explanation:

It will incur the opportunity cost of $8000 because the additional unit produces by the company then the additional revenue that is generated will be equal to the amount (25 - 20) x 12,000 = 60,000. Since the additional cost, that incurs for the production of 12000 units is 52000. Therefore the profit earned is $8000.

So if the company does not produce it then it will lose the profit of $8000.

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3 years ago