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mafiozo [28]
3 years ago
9

Free market economies stimulate greater economic growth, whereas state-directed economies stifle growth. Discuss.

Business
1 answer:
Marizza181 [45]3 years ago
4 0

Answer:

Free market economies stimulate growth because they give people incentives to become more innovative. In a market economy, people get to keep the money that they make from business ventures (less taxes of course) which spurs them on to compete more and produce better so that they can make more than their competitors and get wealthier.

This competition will stimulate growth and lead to more efficiency because less efficiency means higher costs and less profitability.

This is in contrast to state-directed economies where resources are shared and people have to work for the benefit of others. You will find that those who could have been innovative will lose the urge to be so because they will not get as wealthy from it.

Inefficiency will also be rife as the government tries to include as many people in production as they can which will lead to higher costs and less profits culminating in weak economic growth.

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From the following particulars of Purple New Co., prepare the bank reconciliation statement as on May 31, 2016.
juin [17]

Answer:

Explanation:

Bank reconciliation statement:

Cash account balance $3950

Less: Deposit in transit ($900)

Less: Bank service charges ($75)

Add: Interest added to the checking account by the bank $150

Add: Checks outstanding $960

Less: Check drawn incorrectly charged by the bank ($85) [150-65]

Adjusted balance $4,000

5 0
3 years ago
Linda has signed a two-year long contract with HNS Inc., a clothing retail store, to work as a sales trainee. Linda’s parents ar
alekssr [168]

Answer:

Mutual assent.

Explanation:

Since Linda is not yet 18 years old her parents should give assent on the contract of sales trainee.

3 0
3 years ago
Read 2 more answers
Which of the following is most likely true about direct and digital marketing? Group of answer choices They make it increasingly
lord [1]

Answer:

They provide buyers with anytime, anywhere access to products.

Explanation:

Direct digital marketing is the type of marketing that is done exclusively through digital channels such as email and the internet. It is becoming the more convinient way of marketing and is used by most businesses and even replaces traditional marketing in some cases.

Email marketing involves promotion of products through targeted emails to selected customer segments.

Marketing on the internet involves advert placement on various internet channels such as social media and search engines.

A minor advantage of digital marketing is that it is available at every time. So the customer can access information on products at any time of the day.

7 0
3 years ago
Read 2 more answers
A manufacturer of triaxial accelerometers wants to have $2,800,000 available 10 years from now so that a new product line can be
melomori [17]

Calculation of equal amount to deposit each year to get the future amount:


It is given that a manufacturer of triaxial accelerometers wants to have $2,800,000 available 10 years from now. So we can say that Future value is $2,800,000. We are also given that the deposit rate is 6% per year.

In order to find out the equal amount to deposit each year we need to calculate the annuity using the future value of annuity formula as follows;

Annuity = Future value of annuity / FV of $1 annuity

FV of $1 annuity (at 6% rate for 10 years) is 13.18079


Hence,

Annuity =2,800,000 / 13.18079 = 212,430.36

Hence , equal amount to deposit each year is $212,430.36










8 0
3 years ago
HR can foster a triple bottom approach through incentive plans that focus on achieving comprehensive results rather than solely
navik [9.2K]

Answer:

a. True

Explanation:

Human resources management (HRM) can be defined as an art of managing, controlling and improving the number of people (employees or workers), functions, activities which are being used effectively and efficiently by an organization.

Thus, human resources managers are saddled with the responsibility of recruiting, managing and improving the welfare and working conditions of the employees working in an organization.

A triple bottom line (TBL) is a business management framework or model that comprises three (3) main components, which are; financial, environmental and social.

Human resources (HR) can enhance a triple bottom approach within an organization by establishing incentive plans that is typically focused on achieving comprehensive results rather than solely on profit incentives. Thus, it would foster the growth and development of an organization with respect to finance, environmental and social factors.

6 0
3 years ago
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