Economics system - role of consumers, producers, government and
Voluntary sector in the welfare of economic stakeholders
Answers
The economy of a country is the foundation for its growth and prosperity. There are various economic systems such as capitalism, socialism, and communism. In each of these systems, there are different roles played by the key stakeholders such as consumers, producers, the government, and the voluntary sector.
The role of consumers is to purchase goods and services that are produced by producers. The decisions of consumers determine the demand for goods and services, which in turn influence the prices of those goods and services. If consumers have more purchasing power, then the demand for goods and services will increase, leading to higher production by producers. This, in turn, will result in economic growth.The role of producers is to create goods and services that satisfy the needs and wants of consumers.
The producers aim to maximize their profits by producing goods and services that are in high demand and are sold at higher prices. This leads to increased economic growth as producers create jobs, pay taxes, and contribute to the GDP.The government's role is to regulate the economy and ensure that it runs smoothly. The government sets policies that regulate trade, taxation, and monetary policies. The government also provides essential services such as healthcare, education, and infrastructure that help
improve the welfare of the citizens.The voluntary sector also plays a significant role in the economy. It consists of non-profit organizations that work towards the welfare of society. The voluntary sector helps in providing services such as healthcare, education, and social welfare that the government may not be able to provide. The voluntary sector relies on donations and volunteers to carry out its activities and can help to bridge the gap between the rich and poor in society.
In conclusion, the economy of a country is influenced by the roles played by consumers, producers, the government, and the voluntary sector. Each of these stakeholders has a crucial role to play in ensuring the welfare of economic stakeholders. By working together, these stakeholders can create a stable and prosperous economy.
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Related Questions
Taxes are often ovved on?
initial investments,
the current value of investments.
the real value of investments,
investment returns.
Answers
Answer:
Investment returns
Explanation:
Tax is a compulsory levy imposed by the government on an individual, firms etc for the provision of infrastructure.
Generally speaking, taxes are paid as soon as money is earned. While some taxes are due for payment when investments are sold at a profit, others like dividend , mutual funds are due when distribution is paid on the investment.
The ratio of gain or losses on an investment is referred to as investment returns. The returns could be higher which means profit hence must be taxed. It could also be the other way round,i.e lower returns . In such situation, loss is incurred on the investment and it is not taxed same way as having profit on the investment.
D. investment returns.
A deposit of 10,000 offering a 6%annual rate would pay how much interest over a six month period?
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Bob spends time reading industry magazines, conducting online searches to gather than analyze information about other competitors. He also surveys employees, customers and corporate partners when investigating what other firms in the industry are doing. Bob is engaging in
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Bob is engaging in competitive intelligence gathering, a process that involves researching and analyzing information about other competitors in the industry through various methods.
These are reading industry magazines, conducting online searches, and surveying employees, customers, and corporate partners.
Competitive intelligence gathering is an important practice for businesses to stay informed about their competitors and industry trends. Bob's activities align with this process.
By reading industry magazines, Bob can gather insights into what other firms are doing, their strategies, and market trends. Conducting online searches allows him to access a vast amount of information and analyze data relevant to the industry and competitors.
Surveying employees, customers, and corporate partners provides additional perspectives and firsthand information about the activities and strategies of other firms. By engaging in these activities, Bob can gain a better understanding of the competitive landscape, identify potential threats and opportunities, and make informed decisions for his own organization.
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Chevron's 52,000 employees work for thirteen major operating companies in 180 countries. Each national unit does business according to the needs of its market. Effective management of human resources in such a complex environment is an enormous task, and the key to success is reliable, accurate management information. Thus, Chevron developed an online human resources information system, which is a critical tool in managing its human resources. As expected, one of the broad goals of the human resources information system is to help management a. prepare specific job or position descriptions. b. develop a replacement chart. c. utilize human resources efficiently to meet organizational goals. d. send greetings to employees on their birthdays. e. write a job specification for the computer programmer.
Answers
Answer:
C
Explanation:
Human resources information system is defined as an information system that is used to collect analyze and process data to aid easy administration of the human resources function in an organization . It makes use of database and computer software and hardware for this purpose .
the overall aim is to utilize human resources efficiently to meet organizational goals
What resources and capabilities are needed to compete within the online movie streaming industry g
Answers
To compete within the online movie streaming industry, there are several key resources and capabilities that are needed.
1. Extensive Content Library: One of the most crucial resources is a diverse and extensive collection of movies and TV shows. This includes securing licenses and rights to popular and exclusive content that can attract and retain subscribers. For example, having a wide range of genres, languages, and release dates can cater to a larger audience.
2. Robust Technology Infrastructure: A strong technology infrastructure is vital for seamless streaming experiences. This includes high-speed servers, content delivery networks (CDNs), and scalable platforms to handle heavy traffic. A reliable streaming platform with smooth playback, minimal buffering, cross-device compatibility enhances the user experience.
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at a world price of $1000, country b has a domestic quantity demanded of 10 computers while it has a domestic quantity supplied of only 6 computers. in a situation of free trade, how many computers will country b be importing?
Answers
In a situation of free trade, Country B will be importing 4 computers.
What is free trade?
Import and export restrictions are not present in a free trade system. It can also be seen as the free market concept implemented in global trade. Political parties with economic liberal stances are more likely to support free trade than economic nationalist as well as left-wing parties, who typically support protectionism, which is the antithesis of free trade. Today, the majority of countries participate in multilateral trade agreements through the World Trade Organization. The unilateral action of Great Britain, which from the middle of the 19th century to the 1920s reduced import and export regulations and duties, served as the best example of free trade.
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When you put a check you received in the bank, you have immediate access to the money.
True or False.
Answers
Answer:
this is true hope this helps
Explanation:
Deflation:_____.
a. can cause budget surpluses.
b. can lead to increased output.
c. does not affect output.
d. can lead to decreased output.
Answers
Deflation can lead to decreased output .
Deflation is a general decline in prices for goods and services, typically associated with a contraction in the supply of money and credit in the economy.
Deflation can lead to decreased output in a way that the demand of goods is way too high therefore the purchasing power is elevated. And the prices of goods is also lower.
Additionally, manufacturers may get skeptical about producing goods due to the low prices for the goods that affect them.
Although, it may seem like the fact that prices are lower is good, deflation can drastically affect the economy and lead into recession and depression.
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Managerial accountants:
a. create the company’s financial statements that are submitted to government agencies such as the Internal Revenue Service.
b. negotiate contracts with suppliers
c. create financial reports and provide other types of accounting information to investors.
d. provide managers within the organization with reports to make good business decisions.
Answers
Managerial accountants provide managers within the organization with reports to make good business decisions.
Who are Managerial accountants?They are account managers, they help a company to manage the financial account and hep to make decisions based on the trend on the account.
They also hep perform various task that is associated with the account.
Therefore, Managerial accountants provide managers within the organization with reports to make good business decisions.
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Massive Vengeance Corporation reports a Retained Earnings balance of $550,000 on January 1, Year 6. During the year, the company reported before tax income of $200,000 and declared and paid $120,000 of cash dividends. The company also issued common stock in exchange for $50,000 cash. Massive Vengeance pays tax at a rate of 30%. Retained Earnings on December 31. Year 6 is: O $570,000 $606,000 $641,000 $680,000
Answers
The Retained Earnings of Massive Vengeance Corporation as on December 31, Year 6 is $570,000. So, the correct answer is $570,000.
The calculation of Retained Earnings on December 31, Year 6 for Massive Vengeance Corporation requires adjusting for the effects of net income, dividends, and stock issuances. The company started with a Retained Earnings balance of $550,000 on January 1, Year 6.
They reported a before-tax income of $200,000 and paid taxes at a rate of 30%, which is $60,000 (0.3 x $200,000). After subtracting the taxes, the after-tax income is $140,000 ($200,000 - $60,000). Massive Vengeance declared and paid $120,000 in cash dividends.
To calculate the Retained Earnings on December 31, Year 6, you add the after-tax income to the initial balance and subtract the cash dividends: $550,000 + $140,000 - $120,000 = $570,000.
So, the Retained Earnings on December 31, Year 6 is $570,000.
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Which one of the following statements best represents McDonald's approach to global business?
a. One brand cannot be all things to all people
b. Extensive use of outside trainers
c. Using alternative technologies to make French fries
d. Use of primarily manual information systems
Answers
Out of the given options, the statement that best represents McDonald's approach to global business is "One brand cannot be all things to all people."
McDonald's is one of the largest and most successful fast-food chains in the world. It has a presence in more than 100 countries, serving millions of customers every day. Despite its global success, McDonald's recognizes that cultural differences and local tastes vary widely, and hence one brand cannot be all things to all people. McDonald's caters to the local tastes and preferences of customers in different regions by adapting its menu and marketing strategies.For instance, McDonald's offers Halal meat in Muslim-majority countries, while it provides pork-based products in non-Muslim countries. In India, McDonald's has a separate vegetarian menu due to the significant vegetarian population. Similarly, McDonald's offers a different menu in Japan, which includes rice-based dishes and fish burgers.McDonald's approach to global business is to maintain consistency in its core brand identity while adapting to local markets' specific needs. This approach has helped McDonald's to establish itself as a global brand while providing customers with a sense of familiarity and local relevance.In conclusion, McDonald's approach to global business is to recognize that one brand cannot be all things to all people. Instead, it adapts to local markets' specific needs while maintaining consistency in its core brand identity.
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if the government decides to impose a $700 tax on u.s. citizens vacationing abroad, then the deadweight loss from this tax will be:
Answers
To determine the deadweight loss from a tax, we need additional information, such as the price elasticity of demand for vacations abroad and the quantity of vacations being taken by U.S. citizens.
The deadweight loss is a measure of the efficiency loss resulting from the tax, and it occurs when the tax distorts consumer and producer behavior. Without the specific information mentioned above, it is not possible to accurately calculate the deadweight loss. The magnitude of the deadweight loss depends on factors such as the price elasticity of demand and supply, market conditions, and consumer behavior.However, if the demand for vacations abroad is relatively inelastic, meaning that the quantity demanded is not significantly impacted by price changes, then the deadweight loss would be relatively smaller.
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Have a good day!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! :)
Answers
Answer:
hey you too!
Explanation:
love the positivity
thank you!! hope you do too :)
What might be an example of corporate social responsibility
Answers
funding water conservation technologies.
An example of corporate social responsibility is funding for planting trees in the city or country.
What is corporate social responsibility?Corporate social responsibility is kind of a social responsibility of business owners and organizations towards the betterment of the society and environment. There are many ways to fulfill corporate social responsibility, such as planting trees, giving jobs to the underprivileged, funding for water and sanitation facilities, and many more.
At present times, this act of corporate social responsibility is being taken really seriously by business people, and they are fulfilling this responsibility with great zeal. There are dedicated departments in organizations that look after these activities.
Thus, planting trees is one example of corporate social responsibility.
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Question 8 of 20 Which of the following reasons for writing a formal business document would lead you to write a proposal?
A. To tell your manager a project is on budget and on schedule
B. To summarize what happened during a meeting
C. To convince your manager to use a new meeting organization tool
D. To describe what tasks you completed during the week
Answers
Answer: i say A
Explanation:
Answer:
cc just did it
Explanation:
A customer notifies the vendor that purchased merchandise is damaged and cannot be sold at the normal price. Any credit granted to the customer would be called a
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True/False: informal groups exist primarily to complete tasks for the organization that management doesn't know about.
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The given statement" Informal groups do not exist primarily to complete tasks for the organization that management doesn't know about" is False because Informal groups are usually formed by individuals who come together based on shared interests, personal relationships.
While it is possible that informal groups may engage in tasks that management is not aware of, their main purpose is not to act as a secret task force for the organization. Instead, these groups are often formed to fulfill social needs and provide support for their members, enhancing communication and collaboration among coworkers.
Informal groups can offer several benefits to an organization, such as improving morale, increasing job satisfaction, and encouraging innovation. They can serve as a platform for sharing ideas and solving problems outside the constraints of formal hierarchies. This can lead to creative solutions and foster a sense of camaraderie among employees.
However, informal groups can also have some negative effects on an organization if not managed properly. They may create cliques or exclusivity among members, causing divisions within the workplace. Additionally, some informal groups might engage in unproductive or counterproductive behaviors that could undermine organizational goals.
In summary, informal groups are not primarily focused on completing tasks that management is unaware of, but rather they serve to build relationships, share interests, and provide support to their members, sometimes leading to positive outcomes for the organization.
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Why’s are payroll withholding and estimated tax useful
Answers
Answer:
it is actually "They make sure people aren't surprised by how much they owe for the year all at once." i just took the quiz
Explanation:
explain the former assembly and meeting
Answers
Answer:
a company of persons gathered for deliberation and legislation, worship, or entertainment is known as formal assembly.
A meeting is a gathering of two or more people that has been convened for the purpose of achieving a common goal through verbal interaction, such as sharing information or reaching agreement.
What is not a criterion when evaluating financial service providers?
A. financial service provider's history
B. benefits or lack thereof
C. past and current employees
D. emerging technologies
Answers
That which is not a criterion when evaluating financial service providers is this: C. past and current employees.
What are the criteria for evaluating financial service providers?To successfully evaluate the qualification of a financial service provider, the customer must be able to look at their present and past history. They should consider their ability to incorporate emerging technologies into their businesses.
It is not really the business of the consumer to dig out the past and current employees of the business. He should be interested in other relevant factors like the above.
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Use the following information to answer questions 1-3. Consider the following transactions: Cash received from sale of building $6,000
Depreciation Expense -600
Cash Paid for Interest -650
Loss on sale of building -1,750
Cash Paid to Repurchase shares of stock (treasury stock) -1000
Cash collected from customers 11,500
Cash paid for dividends -800
Cash paid for income taxes -1,320 1. Calculate Cash Flow from Operations 2. Calculate Cash Flow from Investing Activities 3. Calculate Total Change in Cash
Answers
Cash Flow from Operations is $8,780. Cash Flow from Investing Activities is $5,000. The total Change in Cash is $13,780.
1. To calculate Cash Flow from Operations, we need to add back the non-cash expenses (Depreciation) and subtract the cash payments (Dividends and Income Taxes) from the Cash collected from customers:
Cash Flow from Operations = Cash collected from customers - Cash paid for dividends - Cash paid for income taxes + Depreciation Expense
Cash Flow from Operations = 11,500 - 800 - 1,320 - 600
Cash Flow from Operations = $8,780
2. To calculate Cash Flow from Investing Activities, we need to look at the Cash received from the sale of the building and the Cash paid to Repurchase shares of stock (treasury stock):
Cash Flow from Investing Activities = Cash received from the sale of the building - Cash paid to Repurchase shares of stock
Cash Flow from Investing Activities = 6,000 - 1,000
Cash Flow from Investing Activities = $5,000
3. To calculate Total Change in Cash, we need to add up the Cash Flow from Operations and the Cash Flow from Investing Activities:
Total Change in Cash = Cash Flow from Operations + Cash Flow from Investing Activities
Total Change in Cash = 8,780 + 5,000
Total Change in Cash = $13,780
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When a company switches from the three-sigma quality control model to the six-sigma quality control model, it is _____.
Question 10 options:
decreasing the standard deviation of the manufacturing processes from one-sixth to one-twelfth of the spacing between USL and LSL
increasing the spacing between USL and LSL from three to six standard deviations of the manufacturing processes
increasing the spacing between USL and LSL from six to 12 standard deviations of the manufacturing processes
decreasing the standard deviation of the manufacturing processes from one-third to one-sixth of the spacing between USL and LSL
Answers
A corporation, often known as co., is a legal entity that stands for a group of people with a certain goal who are either natural, legal or a combination of the two. Members of the company work together for a shared cause in order to accomplish clearly stated objectives.
A group of people can get together to form a corporation, which is a legal body used to conduct and manage commercial or industrial business operations. The business lines of an organization depend on its form, which can be a corporation, a partnership, or even a sole proprietorship.
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On May 31 of the current year, the assets and liabilities of Riser, Inc. are as follows: Cash $21,500; Accounts Receivable, $7,400; Supplies, $750; Equipment, $12,150; Accounts Payable, $9,500. What is the amount of owner's equity as of May 31 of the current year
Answers
Explanation:
On May 31 of the current year, the assets and liabilities of Riser, Inc. are as follows: Cash $21,500; Accounts Receivable, $7,400; Supplies, $750; Equipment, $12,150; Accounts Payable, $9,500. What is the amount of owner's equity as of May 31 of the current year
Most real estate agencies are created by what?
Answers
Explanation: An agency is created by express appointment when the principal appoints the agent by express agreement with the agent. This express agreement may be an oral or written agreement between the principal and the agent.
negative impact of the coronavirus as one of the socio-economic issue on businesses
Answers
Answer:
Explanation:
Tye negative impact of the coronavirus is that:
1. Unemployment: A negative effect of the virus is the increase in unemployment. Since, people were informed to stay at home, this hindered people from performing their normal activities. Since there was less money in circulation, this led to loss of jobs.
2. Pressure on Health and medical systems: Due to the spread of the virus, there were pressures on hospitals, clinics etc.
3. Negative effect on economic growth. There was a decrease in the demand of goods and services which in turn, had a negative effect on economic growth.
4. Deaths
A company reported that its bonds with a par value of $50000 and a carrying value of $66.500 are retired for $71,400 cash, resulting In a loss of $4,900. The amount to be reported under cash flows from financing activities is: a. $(71,400). b. $(16,500). c. $(66,500). d. $16,500. e. $(4,900).
Answers
The correct answer is (a) $(71,400).
When a company retires bonds, cash flows from financing activities will be affected. Bonds with a par value of $50,000 and a carrying value of $66,500 were retired for $71,400 cash, resulting in a loss of $4,900.
The company will report cash flows from financing activities of $(71,400). This is calculated by subtracting the carrying value of the bonds ($66,500) from the amount received for the retirement of the bonds ($71,400). The loss of $4,900 is not reported in the statement of cash flows.
The other answer choices are incorrect because:
- (b) $(16,500) is incorrect because it is the difference between the par value of the bonds ($50,000) and the cash received for the retirement of the bonds ($71,400).
- (c) $(66,500) is incorrect because this is the carrying value of the bonds, which was not reported in the statement of cash flows.
- (d) $16,500 is incorrect because it is the difference between the cash received for the retirement of the bonds ($71,400) and the par value of the bonds ($50,000).
- (e) $(4,900) is incorrect because this is the amount of the loss that was not reported in the statement of cash flows.
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There are a number of different ethical issues you could discuss with your employees. What topics would serve as a good basis for the beginning of the course?
Answers
I think you should claim there to be racism and blame someone for being racist to you and that WILL show them that you are responsible and want best for them .
Hope this helped
Jeff
Which two documents summarize the business plan of a company?
a. Pitch Deck
b. Marketing Plan
c. Lean Canvas
d. Business Plan
Answers
Pitch Deck and Lean Canvas are the two documents summarize the business plan of a company .
Good business plans should include an executive summary and sections on products and services, marketing strategy and analysis, financial planning, and a budget.
Main Components of a Business Plan
Executive summary. This is your five-minute elevator pitch. ...Business description and structure. This is where you explain why you're in business and what you're selling. Market research and strategies. Management and personnel. Financial documents.Thus , Pitch Deck and Lean Canvas are the two documents summarize the business plan of a company .
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what is a partnership
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What is interest and what is it used for?
Answers
Answer:
Interest is the monetary charge for borrowing money—generally expressed as a percentage, such as an annual percentage rate (APR). Key factors affecting interest rates include inflation rate, length of time the money is borrowed, liquidity, and risk of default. Interest can also express ownership in a company.
I found that on internet XD