A characteristics of a mixed economy is a mix of both private and government control.
Explanation:
The benefits that organizations offer their employees are essential to add value to the job function. Through them, it is possible for the organization to attract and retain qualified employees, in addition to creating a favorable and positive organizational environment for the development of professional skills. The benefits help to motivate the employee and improve the perception and appreciation of their position and the company.
The benefits that most add value to employees are health and retirement plans, in addition to dental plans, paid vacations, etc. These benefits are not mandatory for the employer, but they are great differentials in differentiating jobs in the view of individuals.
Answer:
C. I: assets; II: liabilities.
Explanation:
Assets are the physical and intangible properties of business or individual. They are resources used in generating revenues or profits for a business. Assets add value or increase the capital of a company. Examples of assets include cash, inventory, investments, office equipment, and plant and machinery.
Liabilities are debts or obligations that a firm or individual owe to other entities or individuals. Liabilities decrease the net value of a company. Examples of liabilities include Bank debt, money owed to suppliers (accounts payable), Wages owed, and Mortgage debt.
Cash belonging to a bank but held in another bank account is, therefore, an asset, while money borrowed is a debt, hence a liability.
Answer:
a. 1, 5 and 7
b. Resources will be allocated inefficiently
c. Differing sizes and capacities
d. Benefits due to economies of scale
e. Reduce prices and improve resource allocation.
Explanation:
The correct combination is 1, 5 and 7. The price of a pure monopoly firm is much higher than that of purely competitive firm because the later is a price taker while the former is a price fixer. Because of this, output of monopoly is lower while the profit margin is higher than that of competitive firm.
Assuming that a pure monopolist and a purely competitive firm have the same unit costs. In the case of a pure monopolist, resources will be allocated inefficiently because the monopolist does not produce at the point of minimum Average Total Cost and does not equate price and Marginal cost.
Even though both monopolists and competitive firms follow the MC = MR rule in maximizing profits, there are differences in the economic outcomes because pure competitors lack capacity and are smaller in size while the monopolist has the capacity to expand inorder to maximize profits.
The costs of a purely competitive firm and a monopoly may be different because the monopolist is capable of taking advantage of cost reduction arising from economics of scale. Pure competitors does not experience economies of scale due to their small sizes.
If a monopoly can experience economies of scale, it can reduce prices beyond that of the pure competitor thereby ensuring a more efficient resource allocation.
