Answer:
The right to own private property.
Explanation:
A property right is the exclusive or sole authority which determines the legal ownership of resources and how these resources are to be used, whether by individuals or government.
Hence, when property rights are well defined and markets are competitive, the market equilibrium is consistent with economic efficiency.
This ultimately implies that, when the ownership of resources are well defined and markets are competitive, all benefits from trade between the consumers and producers of goods and services has been maximized, and each units creating more benefit to the consumers than cost have been produced in the economy.
In this scenario, Patrick lives in a nation whose government embraces capitalism. He owns his own home and car, as well as his own business and building. Patrick maintains ownership due to the right to own private property.
Answer:
<h2>The answer,in this case would be <u>Graphic Rating Scale or Likert Scale</u>.</h2>
Explanation:
- In a statistical research study,rating scale or likert scale is used indicate the intensity of magnitude of any variable or phenomenon related to the concerned research topic.
- Rating scale or likert scale is commonly used in statistical research methods such as surveys or questionnaire where various options are presented to the respondents or participants and a corresponding numerical value associated with each response options.
- The response options are scaled or ranked numerically according to the intensity or magnitude of the variable or the phenomenon which is included in the survey or questionnaire question.
- In this instance,the subordinate performance has been scaled or ranked on a rating or likert scale from 1 to 7 which represent the numerical values associated with each rank or scale.
Answer:
Sales of 2018 amounts to $940,000
Explanation:
When the sales in the year 2019 is $1,081,000 and this sales represent 15% increase then the sales of 2018 is computed as.
= Sales of 2019 / 115 × 100
= $1,081,000 / 115 × 100
= $940,000
So, the sales of the year 2018 is $940,000
Working Note:
= (100 + 15)%
= 115%
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