In a command economy do highly skilled workers earn more, less, or the same as low-skilled workers?

1 answer:

7 0

In a command economy, depending on most of the businesses, consumers can either buy more, or buy less than they would in a different economy. But because of the fluctuation businesses experience with their profit rates and so on, highly skilled workers are paid the same as low-skilled workers.

You might be interested in

Kay and Jenny's, a restaurant, implements a new system that identifies and gathers information about its regular customers. It r

Elena L [17]

Answer:

Customer relationship management (CRM)

Explanation:

Customer relationship management can be defined as a set of technologies, strategies and practices related to a business, whose main objective is to focus on the relationship with the customer.

The information age has revolutionized the way companies relate to their customers, nowadays digital media and new technologies have enabled greater interactions between company and customer, which created a need for companies to also seek corporate strategies and technologies that would bring relevant benefits for business success. Some of the CRM platforms enable companies to gather information from customers in order to manage sales opportunities and leads, in addition to organizing accounts and contacts in an accessible way and optimizing and accelerating the sales process.

5 0

3 years ago

At higher prices, the price elasticity of demand is likely to be ________, whereas it is likely to be ________ at lower prices.

Black_prince [1.1K]

Answer:

2. elastic; inelastic

Explanation:

The price elasticity of demand, the amount consumers demand from a particular price are different for each good or service, and when the price changes, the response shown as the change in the quantity requested is different for each good (even at a different price level for one good).

In the face of price changes, the severity (or degree of sensitivity) of the reaction of consumers in the form of changing the amount they buy against this change is measured by the price elasticity of the demand, which is also called demand elasticity. This flexibility is expressed by a coefficient.

The price elasticity coefficient of demand is equal to the ratio of the percentage change in the quantity demanded to the percentage change in price in the face of a small change in price.

The Price elasticity will be elastic when it equals or more than 1, if not it will be inelastic with the amount of less than 1.

6 0

3 years ago

According to one study, 61% of the population swallow at least one spider per year in their sleep. based on this study, what is

chubhunter [2.5K]

Answer:

22% :)

Explanation:

5 0

4 years ago

By the time you turn 30 years old, what insurance do you expect to have?

WINSTONCH [101]

honestly you would need all of them because they are very important to have as you get older

5 0

3 years ago

Read 2 more answers

Conducting business on a global scale is a part of ________?

julia-pushkina [17]

Conducting business on a global scale is a part of GLOBALIZATION.

Globalization is a process of interaction of individuals, companies, and government all over the globe for the purpose of conducting business relations with the help of information technology.

4 0

3 years ago