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What is the informal economy? how many people in the world's economy work in "system d"? what are some of the advantages of the

Alexxx [7]

Answer:

Depending where you look for information, informal economy can cover a lot of different jobs and industries. The informal economy doesn't pay taxes and it is excluded in the gross domestic product. Some organizations include other industries under the informal economy, specially those that are not regulated or adequately controlled by the government. This includes many people who are self-employed or even employees that perform unprotected jobs. E.g. companies that hire poor or illegal immigrant workers and pay them on a daily basis.

According to the International Labor Organization, more than 61% of the world's population works under informal economies.

Some advantages of informal economies are:

higher income resulting from not paying taxes (even on a personal level, if you are able to work and earn a living but do not pay taxes, your personal net income will be higher than if you actually paid taxes).
a lot of people are part of it, that means large scale employment.

Informal economies tend to have serious disadvantages because the most powerful tend to abuse form the least powerful:

child labor or even forced labor
unprotected jobs, e.g. no social security, no health care benefits, no safety at work, etc.

Approximately 11-12% of the US economy is considered informal, and that represents almost $2.5 trillion per year. Some normal activities are included in the informal economy although we never think about them as being out of the system, e.g. babysitting, landscaping and cleaning services, etc. Other informal activities are more obvious, e.g. prostitution, drug dealing, theft, etc.

3 0

3 years ago

**Plz help, ive made the question a bit easier**

lara31 [8.8K]

I would think it’s punctuation

6 0

3 years ago

What is a profit?

Shalnov [3]

Answer:

Profit is the amount of money gained by someone or a business after the total costs are taken away from the revenue

profit = total revenue - total costs

it is the surplus left from revenue after taking away all costs

8 0

3 years ago

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A small co ffee company roasts coff ee beans in its shop. The unroasted beans cost the com- pany 200 cents per pound. The MARGIN

umka2103 [35]

Answer:

q = 10 pounds = socially efficient amount of coffee for the company to roast.

Explanation:

Data Given:

Cost of Unroasted beans = 200 cents/pound.

Marginal Cost of roasting coffee beans = $q^{2}$ -10 $q^{}$ + 150

Cost neighbors willing to pay to stop shop operations = 5 $q^{2}$

Output selling price = 450 cents/pound

Required:

Amount of coffee to roast = ?

Solution:

As we know from the problem statement that it costs the company 200 cents/pound for the procurement of raw beans which are here termed as unroasted beans. Let's say it is the marginal cost of procuring.

Moreover, we know that marginal cost of roasted beans = $q^{2}$ -10 $q^{}$ + 150.

which is in the form of quadratic equation and will be solved for q to know the required answer.

Let's suppose X = marginal cost of unroasted beans.

Y = marginal cost of roasted beans.

MPC = Marginal Private cost

In order to calculate the marginal private cost, we need to add X+Y.

MPC = 200 + $q^{2}$ -10 $q^{}$ + 150

MPC = $q^{2}$ -10 $q^{}$ + 350

Now,

The total social cost which the neighbors are willing to pay = 5 $q^{2}$

In order to calculate marginal social cost, we need to differentiate the above equation.

MSC = d/dq5 $q^{2}$ = 10q

Finally,

Marginal Benefit = 450 cents/pound

For socially efficient amount = q =

MPC + MSC = Marginal Benefit

$q^{2}$ -10 $q^{}$ + 350 + 10 $q^{}$ = 450

$q^{2}$ -10 $q^{}$ + 10 $q^{}$ = 450-350

Solving for q,

$q^{2}$ = 100

taking square root on both sides,

q = +/-10.

Hence,

q = 10 pounds = socially efficient amount of coffee for the company to roast.

6 0

3 years ago

You pay for cheese and bread from the deli with currency. which function of money does this best illustrate? medium of exchange

Ratling [72]

Medium of exchange because it's the purchase that is in question here

3 0

4 years ago

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