Adam Smith's invisible hand theory is the concept that in a market where people are free to buy and sell as they please, buyers will buy goods that sellers offer at prices that work for all parties.
Answer:
The correct answer is option c.
Explanation:
If the demand for a product is elastic the tax burden will be borne by the producer. This is because elastic demand means that an increase in the price will lead to a more than proportionate reduction in the quantity demanded. So with the imposition of a tax, the sellers will not increase the price as it is likely to reduce demand.
If the demand is inelastic, it means that an increase in price will lead to less than a proportionate decrease in the demand. In this situation, after the imposition of tax, the tax burden can be shared between producer and buyer.
Answer:
One of the hardest challenges in product management is getting people aligned—especially if they have different reporting lines and objectives. Here it helps to remember that our job is not to have all the answers—but to ask the best questions.
Explanation:
Answer:
1. How the nation allocates resources
Explanation:
Government is the chief decision maker in any economic model because their power enables to allocate nation`s resources among economic unit. As such they keep watch on the economic changes and trends in order to make the best economic decision for the nation. When government becomes aware of economic changes, it will try to allocate resources efficiently and effectively based on signal given by the changes.
For example, if US government is aware that the economy is nearing recession, it will be put in preventive measures to escape the intending recession and make sure it allocates its scarce in efficient way among the economic units by spending more on capital projects, raising social empowerment spending and doing other necessary things.
So the discovery of economic changes will most likely influence how the nation allocates resources.
Answer:
the value of the quick ratio is 1.11 times
Explanation:
The computation of the value of the quick ratio is shown below:
Quick Ratio = Total Quick Assets ÷ Total current liabilities
= [Cash + Accounts Receivables] ÷ Accounts Payable
= [$145 + $99] ÷ $219
= $244 ÷ $219
= 1.11 Times
Hence, the value of the quick ratio is 1.11 times
