The five foundations of trade are:
- incentives
- tradeoffs
- opportunity cost
- marginal thinking,
- principle that trade creates value.
<h3>Why do we engage in trade?</h3>
There are five main foundations of trade that are the reason why people engage in trade. One of them is the profit incentive to make money from trade. Another is the tradeoffs that people are forced to make to survive.
Opportunity cost also leads to trade because people give up one thing for another and so may have to sell the thing they gave up to receive the thing they want. There is also the principle which posits that when we trade, value is created. Finally, there is marginal thinking which is thinking along the lines of the benefit of one additional unit.
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The Reconstruction Finance Corporation is a government corporation in the US by Eugene Meyer a Federal Reserve Board Governor during the governance of President Hoover. It was applied last 1932 and allowed loans for everyone who would meet the requirements.
The responsibility of the Federal reserve is to provide loans. However, RFC ended after WW2 during President Eisenhower's term. On the other hand, President Roosevelt benefited from its operation when it allowed loans in agriculture and housing.
Answer:
Consider the likelihood that the risks could result in material misstatements.
Explanation:
The risk of material misstatement is the risk that the financial statements of an organization have been misstated to a material degree. This risk is assessed by auditors at the following:
At the assertion level. This is further subdivided into inherent risk and control risk. Inherent risk is the susceptibility of an assertion to misstatement because of error or fraud, before considering controls. Control risk is the risk of misstatement that will not be prevented or detected by a reporting entity's internal controls.
At the financial statement level. Relates to the financial statements as a whole. This risk is more likely when there is a possibility of fraud.
Three pieces of information you would include when writing a job description is
!) Heading information- Where they live, where they came from, who to contact when something bad happen.
2) Work Environment- Know what's around you, be able to know it's safe for workers.
3) Three or four skills they need to have- Being able to do the work they are task with.
The advent of the Internet has made the presence of businesses global. ... The communication between customers and businesses increases customer satisfaction and enables businesses to get connected to the customers. The accessibility enables businesses to further expand their service or product, which increases profit.
