Here are the five basic principles found in a free enterprise system:
1) Governments have no control over the buying & selling of products & services.
2) The "invisible hand" of market supply and demand occurs
3) Governments may only be involved with to provide education, the army, and public health services (and other merit goods)
4) Governments may only provide public goods (such as lampposts) which bring no profit for sales people, as you cannot stop people from using those items.
5) Usually, there's a great difference in the distribution of wealth
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Answer:
They should be priced $540.75 at this year.
Explanation:
Given that,
Furniture-making company has a policy of increasing prices 3%.
Last year, luxury chairs were priced at $525.
The price of the chair increase= 3% of $525
=$15.75
The price of the luxury chair is=$(525+15.75)
=$540.75
They should be priced $540.75 at this year.
Answer:
(B) Statistic
Explanation:
A statistic is defined as a metric derived from (or that describes) a sample. As such, given a certain population (in the case of the question, <em>the population is the total number of new engines developed by the company</em>), a sample can be selected from the population (<em>the sample in the question is the 100 engines that are randomly selected</em>).
Any characteristic that describes the population is known as a parameter, whereas a characteristic that defines the sample is a statistic. In the question given, the average lifetime of 11 years was derived from the sample of 100 engines as is thus a statistic.
Answer:
<u>(d)True, brokers often have inside information that is generally not available to the public. You should listen to her and profit from her inside knowledge</u>
Explanation:
- A broker is a person who has knowledge and expertise in his field of tradings and takes his commission for the services provided as these brokers also tend to have inside information and the success of the broker for the past five years proves this fact.
- Most of them typically have a formal license and proper training. Most of them are flexible and do dealing with face to face.
Answer:
complements.
Explanation:
Complementary goods are those goods that can be used together. When there is complementary goods so if there is a rise in the price of one good so it reduced the quantity demanded for that particular good so automatically its complementary good demand is also reduced as the goods are used together
Therefore as per the given situation, the option 2 is correct
