Markets for goods and services appear in a number of forms. in perfectly (or purely) competitive markets:
i. there are large numbers of independently acting buyers and sellers
ii. the good that is produced and traded is homogenous or standardized.
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What are competitive markets?</h3>
- A competitive markets, also known as an atomistic market, is defined by a number of idealizing conditions, which are together referred to as perfect competition, or atomistic competition, in the field of economics, notably general equilibrium theory.
- It has been shown that in theoretical models with competitive markets, a market will eventually find an equilibrium where the supply of all goods and services, including labor, equals the demand for all goods and services at the price in question.It would be Pareto optimal for this equilibrium to exist.
- The two types of efficiency that competitive markets offers are allocative and productive. In the near term, completely competitive marketplaces are not always productively efficient since output does not always occur where marginal cost equals average cost.
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Unemployment, poverty and human rights are obstacles in the
formation of social responsibility. This
greatly prevents a person to be able to
develop social responsibility. Having a
job teaches a person the value of responsibility. It also enables him to stand on his own two
feet and later encourages him to do a bigger role in society. If a person is financially secure and have rights
then that person can do more for society.
Answer:
Option C, Double taxation on profits and individuals
Explanation:
The disadvantages of the corporation form of ownership are as follows -
a) It takes lot of time and hence is time consuming
b) The taxation gets double
c) Also, the formalities/protocols are very tough
Hence, the option C is correct
Sales promotion expenditures account for <u>"19"</u> percent of all promotional spending.
A promotion expense is a cost that a business brings about to improve its items or administrations known to purchasers, more often than not as giveaways. The IRS considers advancement costs to be assess deductible as operational expense, if they are standard and essential. When writing off promotion expenses on their assessment forms, organizations should take care to guarantee that these costs would not all the more precisely be named publicizing costs or charitable commitments.
