3) Consumer sovereignty concerns the principle of hedonism, individualism and, as some economists often say, selfishness, or exacerbated individual freedom, where the human being has complete freedom to do, whatever he wants and understands and, anywhere, nothing interferes with the decisions of those who need to satisfy their needs. This economic philosophy adopts the principle of laissez faire, or in other words, what works is Adam Smith's infamous <u>invisible hand</u>, or more clearly, the system where the government does not interfere in the economy, it exists only to coordinate the political and social system, without active participation in the development of economic activity. It is what is called in the classic and neoclassical language, an economy of free competition, that is to say, everyone is free before their preferred choices.
4) The economic system in the US is <u>free enterprise.</u> Free enterprise is a principle that establishes the possibility for ordinary people to participate in the market without the need for authorization or approval by the State. If you have the possibility to open a company, sell a product and negotiate the price that is right for you, you owe it to the principle of free enterprise.
The government has a fundamental role in the economic system, such as legislating, placing wealth in the market, as well as inspecting these systems.
5) The price floor wage is the lowest wage a company can pay for an employee. It is established by law and is reassessed every year based on the cost of living of the population, its creation was made based on the minimum amount that a person spends to guarantee their survival.
The most common price floor is the minimum wage--a minimum price that can be payed for labor.
Answer: The 1689 English Bill of Rights enhanced the democratic process by: Guaranteeing free elections and frequent meetings of Parliament. Giving English people the right to complain to the king or queen in Parliament (Free Speech) Forbidding excessive fines and cruel punishment.
Explanation:
Answer:
The right answer is C.
Explanation:
The US Office of War Information was called to formulate and implement programs to promote understanding of the status and progress of the war efforts and policies, both in the USA and abroad. It operated from 1942 to 1945. It fulfilled its mission through radio broadcasts, newspaper publications, films, posters , photos and other media.
Your department store receipt says that you paid a 5% sales tax on sports equipment. This sales tax is an example of a
A. proportional tax