Answer:
C) The invisible hand
Explanation:
Daniel here seeking to produce and increase his welfare is "led by an invisible hand" to negotiate with his suppliers and to sell goods to his neighbors in a way that everybody is better off as a result from these transactions.
This is also a clear example to what Adam Smith was referring to the invisible hand:
"in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. Nor is it always the worse for the society that it was not part of it. By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it. " Adam Smith, The Wealth of Nations, Book 4, Chapter 2
Answer:
A. $61,000
B. $43,250
C. $17,750
Explanation:
(a) Calculation for Total revenue
Using this formula
Total revenue=Service sales charged to customers+Cash received from cash customers
Let plug in the formula
Total revenue= ($33,000 + $28,000)
Total revenue=$61,000
Therefore Total revenue will be $61,000
(b) Calculation for Total expenses
Using this formula
Total expenses=Expenses incurred paid +Expenses incurred but not paid +Expenses for supplies used and insurance
Let plug in the formula
Total expenses= ($36,250 + $5,000 + $2,000)
Total expenses=$43,250
Therefore Total expenses will be $43,250
(c) Calculation for net income
Using this formula
Net income=Total revenue-Total expenses
Let plug in the formula
Net income=($61,000 - $43,250)
Net income=$17,750
Therefore Net income will be $17,750
<span>By diversifying, investors help minimize : Risk
In investment term, diversifying means placing your investments into SEVERAL TYPE of investments (Such as placing some on bonds, placing some on IT market, placing some investment on food products, etc). By doing this, you won't lost all of your investment in case one type of market crashed down.
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Tyrone is buying a cup of coffee at the corner coffee shop, which he does most days.
This is further explained below.
<h3>What is a
consumer?</h3>
Generally, The process through which a company or other organization acquires the products or services it needs to meet its objectives is known as purchasing.
Even though there are various organizations that make an effort to provide standards for the buying process, individual firms' procedures might be quite different from one another.
A person or group is considered to be a consumer if they intend to order, do order, or use purchased goods, products, or services primarily for personal, social, family, household, and similar needs that are not directly related to entrepreneurial or business activities.
Consumers can be individuals or groups.
In conclusion, Tyrone is doing what he does almost every morning, which is going to the coffee shop on the corner and purchasing a cup of coffee.
Read more about consumers
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Answer:
C
Explanation:
Increasing minimum wage increases the cost of hiring labour. As a result, firms would reduce the amount of labour skilled labour employed in order to reduce cost of hiring labour.
Another option, is for firms to hire more skilled labours
