i am a basket maker in india. the people in my village make beautiful baskets. my grandmother and my mother made baskets. what type of economic system am i describing?
Answers
i am a basket maker in India. the people in my village make beautiful baskets. my grandmother and my mother made baskets . I am describing Traditional Economy .
Since the modern economy is historically derived from the traditional one, experience shows that the traditional economy has only three future scenarios: market, command or mixed economy. If there is competition in the traditional economy, it is competition for scarce natural resources. The traditional economy threatens the environment less than any other market system. People in the economy have traditional occupations such as farming, fishing, hunting or grazing .
Traditional economy is a system based on custom, history and ancient beliefs. Tradition drives economic decisions such as production and distribution. Traditional economic societies depend on agriculture, fishing, hunting, gathering, or a combination of these.
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Related Questions
The best time to begin a self improvement plan is when ______. A. You are going to be fired from your job b. You have been reprimanded by your boss c. You have disappointed your friends d. You think you need to improve to meet a career goal Please select the best answer from the choices provided A B C D.
Answers
The best time to begin a self-improvement plan is when a person thinks he\she needs to enhance to complete a career goal.
What is self-improvement?Self-improvement is defined as the improvement of ourselves in words of understanding, status, habits, character, or physical appearance.
It evolves to improving a person himself, in spite of any external improvements.
Self-improvement involves the improvement in oneself in terms of learning, quality, essence, practices, thinking to improve the carrier goals, personalities, habits, or bodily formation.
Therefore, option D is correct.
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Answer:
D
Explanation:
A household that is a net saver owes less money to its creditors than it has saved or has lont out to other entities. If there is an increase in interest rates in an economy, then what will happen to the consumption of the households in that economy that are net savers? Both the income and substitution effects will drive their current consumption down. The income effect will drive their current consumption up, but the substitution effect will drive it down The income effect will drive their current consumption down, but the substitution effect will drive it up O Both the income and substitution effects will drive their current consumption higher The income effect will drive their current consumption up and the substitution effect will keep it unchanged
Answers
A household that is a net saver owes less money to its creditors than it has saved or has lent out to other entities. If there is an increase in interest rates in an economy, then the consumption of the households in that economy that are net savers will be driven down by both the income and substitution effects.
In general, the income effect is caused by a decrease in the purchasing power of the households' financial savings as a result of the increase in interest rates. This is due to the fact that an increase in interest rates will lead to an increase in the return on savings, which will raise household income and wealth. This will encourage individuals to save more and consume less than they would have if interest rates had remained the same.On the other hand, the substitution effect is caused by a rise in the relative cost of consumption, which occurs as a result of the increase in interest rates. As a result, households are more likely to save rather than consume because saving becomes more attractive due to the higher interest rates. Thus, both the income and substitution effects will cause households to consume less. Hence, the correct option is: "Both the income and substitution effects will drive their current consumption down."
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which of the following approaches for bad debts is best described as a balance sheet method?
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The best approach for bad debts that is described as a balance sheet method is the allowance method.
In the allowance method, a company estimates and records an allowance for doubtful accounts on its balance sheet. This allowance represents an estimated amount of accounts receivable that is expected to become uncollectible. By recording this allowance, the company recognizes the potential loss from bad debts on its balance sheet.
Under the allowance method, the specific individual accounts that will eventually become uncollectible are not identified. Instead, a general reserve is established based on historical data, industry trends, and management's judgment. This reserve is reported as a contra-asset account on the balance sheet, reducing the total accounts receivable to reflect the estimated net realizable value.
The allowance method provides a more accurate representation of accounts receivable on the balance sheet and matches anticipated losses from bad debts with the corresponding revenue in the income statement. It follows the matching principle of accounting by recognizing bad debt expense in the same period as the related revenue.
Therefore, the allowance method is the approach for bad debts that is best described as a balance sheet method.
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Children with asthma can have severe asthma attacks if they catch common
respiratory infections. To prevent the spread of germs, you can __
O Make sure children take antibiotics every time they get sick
O Wash your hands and children's hands often with soap and water
O Cover your face with a re-usable handkerchief when you cough or sneeze
O
Both A & B
All of the above can prevent the spread of infections
Answers
Answer:
All of the above can prevent the spread of infections
Explanation:
Germs are commonly known to be everywhere and can be spread in various ways, such as through the air in sneezes, coughs, or even breaths.
Hence, in this situation, in order to prevent the spread of germs, it is always advisable to carry out the following:
1. Make sure children take antibiotics every time they get sick
2. Wash your hands and children's hands often with soap and water
3. Cover your face with a re-usable handkerchief when you cough or sneeze
Therefore, the correct answer is "All of the above can prevent the spread of infections."
the cost of retained earnings differs from the cost of new equity due to: a. flotation costs b. dividends c. capital gains yields d. both a & c e. all of the above
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The cost of retained earnings differs from the cost of new equity due to both flotation costs and capital gains yields. Option A and c
Flotation costs are the fees and expenses that a company incurs when issuing new equity, such as underwriting fees, legal fees, and printing expenses. These costs can be significant and can reduce the net proceeds that the company receives from the new equity offering. As a result, the cost of new equity is generally higher than the cost of retained earnings, which do not incur any flotation costs.
On the other hand, capital gains yields refer to the potential for the value of the equity to appreciate over time. Retained earnings are typically reinvested into the company, which can lead to increased profitability and higher stock prices.
This, in turn, can result in higher capital gains yields for shareholders. In contrast, new equity may not have the same level of profitability and growth potential as existing retained earnings, and may not lead to the same level of capital gains yields.
Dividends may also be a factor in the cost of retained earnings versus new equity. Retained earnings are typically reinvested into the company rather than paid out as dividends, which can be attractive to investors who are looking for long-term growth. In contrast, new equity may be issued with a dividend payout, which can affect the cost of the equity.
Overall, the cost of retained earnings is generally lower than the cost of new equity due to the absence of flotation costs and the potential for higher capital gains yields. However, it is important for companies to consider all factors when determining the most appropriate method of financing their growth and investment plans. Option A and C are correct.
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Quantity price total cost in table 24.1, using the profit maximization rule, a monopolist will charge a price of:________
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Using the profit maximization rule, a monopolist will charge a price that corresponds to the quantity where marginal revenue equals marginal cost.
Table 24.1 provides information on the total cost, marginal cost, and marginal revenue for a monopolist producing different quantities of output. To determine the price that maximizes profit, the monopolist needs to identify the quantity at which marginal revenue (MR) equals marginal cost (MC).
From the table, we can see that the marginal cost initially decreases with quantity but then starts to increase at higher levels of output. The marginal revenue, on the other hand, decreases as the quantity increases. At the quantity where MR equals MC, the monopolist maximizes profit.
Based on the information in the table, we can see that the quantity where MR equals MC is 6. At this quantity, the marginal revenue is $18 and the marginal cost is $18, indicating that the monopolist should charge a price of $18 to maximize profits. Therefore, using the profit maximization rule, a monopolist will charge a price of $18.
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.2.At a price of $1000, Company BIG supplies and sells 1000 units. However, when the government imposes a price ceiling of $800, Company BIG supplies only 700 units but the quantity demanded increases to 1100 units. What is the price elasticity of supply and price elasticity of demand for Company Big products? How might Company Big distribute its 700 units? Is this an efficient way to allocate BIG products?
Answers
The price elasticity of supply for Company BIG products can be determined using the formula: % change in quantity supplied / % change in price. The price elasticity of demand can be calculated using the formula: % change in quantity demanded / % change in price. Based on the given information, the price elasticity of supply is (700-1000) / 1000 / ($800-$1000) / $1000, which equals 0.5. The price elasticity of demand is (1100-1000) / 1000 / ($800-$1000) / $1000, resulting in -1. The negative sign indicates that demand is elastic, meaning a price decrease leads to a proportionally larger increase in quantity demanded.
The price elasticity of supply measures the responsiveness of the quantity supplied to a change in price. In this case, the supply of Company BIG products is relatively inelastic since the price change leads to a smaller percentage change in quantity supplied. The price elasticity of demand measures the responsiveness of the quantity demanded to a change in price. The negative value indicates that demand is elastic, suggesting that consumers are responsive to price changes, and a decrease in price leads to a proportionally larger increase in quantity demanded.
As for the distribution of the 700 units, Company BIG can allocate them among customers based on various factors such as customer loyalty, order history, or a first-come-first-serve basis. They may also consider implementing a lottery system or setting specific criteria for eligibility to ensure fairness in distribution.
However, this may not be an efficient way to allocate BIG products. The price ceiling imposed by the government creates a shortage as the quantity demanded exceeds the quantity supplied at the regulated price. In an efficient market, prices serve as signals for resource allocation, and when the government interferes with price mechanisms, it can lead to unintended consequences. In this case, the price ceiling distorts the market by reducing the incentive for Company BIG to supply more units, potentially resulting in inefficient allocation and a persistent shortage.
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2.which of the following statements best describes a keynesian approach to economics? a)aggregate demand is the most important driving force in the economy, but free-markets have no self-balancing mechanisms that lead to full-employment; therefore, government intervention is often necessary to stabilize an economy. b)politics determines economics, the nature of economics is conflictual, and the main actors are nation-states; therefore, the main goal of economic activity is the maximization of national interest. c)individual freedom to pursue interests/wealth in an open market free of government interference with the role of government to primarily protect property rights. d)resources flow from a periphery of poor and underdeveloped countries (global south) to a core of wealthy states (global north) enriching the latter at the expense of the former. poor countries are systemically locked into this unfavorable situation.
Answers
Option a is correct. The main economic driver is aggregate demand, but since free markets lack self-balancing mechanisms that lead to full employment, stabilising an economy frequently requires government intervention.
A macroeconomic theory known as Keynesian economics examines the total amount of spending in the economy and how it affects production, employment, and inflation. In an effort to comprehend the Great Depression, British economist John Maynard Keynes created it in the 1930s.
The fundamental tenet of Keynesian economics is that economic stabilisation may be achieved by government intervention. Keynes' theory was the first to clearly distinguish between the study of individual motivations and economic behaviour from those of broad aggregate variables and conceptions.
Keynes' theory led him to propose higher government spending and lower taxes as a way to boost demand and rescue the world economy from the Great Depression. Later, the term "Keynesian economics" was used to describe the idea that economic performance could be optimised and economic downturns might be avoided.
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Flower farming is earning popularity day by day in Nepal justify this statement
Answers
Importance of flower cultivation is increasing day by day in Nepal because they understood the income which can be generated by floriculture and the soil also permits the cultivation of the plants at a large scale.
the longest phase of a job interview is group of answer choices the close. the question-and-answer stage. the warm-up. none; all are about the same length.
Answers
The longest phase of a job interview typically varies depending on the specific interview process and the organization conducting it.
However, in most cases, the question-and-answer stage tends to be the longest phase of a job interview. This is the phase where the interviewer asks the candidate a series of questions to assess their qualifications, skills, experiences, and fit for the position. The candidate's responses and subsequent discussions can take up a significant portion of the interview time.
Therefore, among the given answer choices, "the question-and-answer stage" is likely to be the longest phase of a job interview or work.
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This is for my class in finance
What is one way to minimize the impact of unplanned spending on a budget?
I will mark brainliest !!!
Answers
Answer:
1. Work with credit card companies. ...
2. Sell your stuff. ...
3. Earn extra income. ...
4. Take on a short-term money loan. ...
5. Re-budget to live below your means. ...
6. Ask for a paycheck advance. ...
7. Make sure you're prepared for next time.
Which industry is Amazon involved in ?
Answers
Answer:
Cloud computing e-commerce artificial intelligence consumer electronics digital distribution self-driving cars
Explanation:
Answer:
Cloud computing e-commerce
Explanation:
it is used for artificial intelligence or the use of robots
Angie’s Cupcake Shop replaced the tables and chairs in the shop. The old furniture was 7-year property and was in its third year of depreciation when it was sold in May. The original cost of the furniture was $8,200 and was depreciated using the half-year convention. Angie will be able to deduct $____ in depreciation during the year of sale. 717 (don’t forget about the half year convention. Multiply the 1434 by 0. 5)The mid-quarter convention is used for all assets purchased during the year when more than ____% of the tangible ____ property purchased is placed in service during the fourth quarter of the year
Answers
Angie will be able to deduct $717 in depreciation during the year of sale.
What is depreciation?Depreciation is an accounting technique for spreading out the expense of a tangible item over the course of its useful life. How much of an asset's value has been used is shown through depreciation. It enables businesses to purchase assets over a predetermined length of time and generate income from those assets.
According to the question the original cost of the furniture was $8,200.
The half-year convention means that the furniture is depreciated over 7 years (the useful life of the asset) with half the usual depreciation taken in the first and last year
In the third year of depreciation, the furniture would have been depreciated by
1/2(1/7) x $8,200 = $471
However, since the furniture was sold in May, only half of that year's depreciation can be taken.
So,
$471 x 0.5 = $235.50
Adding that amount to the previous two years' depreciation:
$235.50 + $471 + $471 = $1178.50
The mid-quarter convention is used for all assets purchased during the year when more than 40% of the tangible property purchased is placed in service during the fourth quarter of the year.
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A depreciating U.S. dollar is ________________ because it is worth ___________ in terms of other currencies.
A. strengthening; more
B. weakening; less
C. a problem for exporters; less
D. beneficial to importers; more
Answers
B. A depreciating U.S. dollar is weakening because it is worth less in terms of other currencies.
When the value of the U.S. dollar decreases relative to other currencies, it takes more dollars to purchase the same amount of foreign currency. This means that American goods become relatively cheaper for foreign buyers, but foreign goods become relatively more expensive for American buyers. This can benefit U.S. importers, who can purchase foreign goods at a lower cost, but it can be a challenge for U.S. exporters who may face increased competition from cheaper foreign goods.
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Suppose the skills needed to perform the work in the two industries are identical, and the supply of labor to the two industries is fixed at 6,000 workers per day. What will be the equilibrium wage, and how many workers will work in each industry?
Answers
Answer and Explanation:
The computation of the equilibrium wages and the number of workers in each industry is as follows:
Since the supply of labor is 6,000
As per the attached graph, the common rate is $8 per hour so if we take 2000 workers in industry A and 4000 workers in industry b
So, the equilibrium wage would be $8
Hence, the same would be considered and relevant too
give short introduction about tourism industry
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Answer:
Tourism industry is the industry that manages all the resources related to the tourism like hotel management, guides and many more. Tourism industry is very beneficial for the developing countries like Nepal, India and many more. Through it there will be economic development in the country. And from the economical development the citizens of the country can get facilities.
Answer:
Explanation: Tourism is the activities of people traveling to and staying in places outside their usual environment for leisure, business or other purposes for not more than one consecutive year.1.Domestic Tourism -Domestic tourism is the act of travelling for business or leisure within one’s home country2.International tourism-International tourisminvolves tourist who are traveling to different countries.
which outcomes are a result of a high-performance work system? (select all that apply) multiple select question.
Answers
A high performance work environment results in increased productivity outcomes.
What does "performance" mean?Overall industry performance refers to the capacity of a corporation to carry out a plan to achieve organisational objectives. It is considered to be an important tool for companies to evaluate how successfully management performs its obligations. Finances or the amount of money each employee makes are two. Using these performance measurements will enable you to make more accurate judgments in regard to the goals.
Why is performance so important?Creating an efficient team can help you finish projects on time, bring in money, and improve the brand through positive client interactions. When employees are not functioning adequately, clients get the impression that a company doesn't care about their needs and will seek help elsewhere. Effective workers finish jobs the first time correctly.
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investors with a ______ risk tolerance may have a long time horizon and are usually looking to maximize their returns in the stock market.
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investors with a high risk tolerance may have a long time horizon and are usually looking to maximize their returns in the stock market.
In economic and business, An investor generally can be defined as an individual that puts money into an entity for a financial return such as a business. Investors can be divided into several types, such as investors with high risk tolerance, investors with moderate risk tolerance, and investors with small risk tolerance. Investors with high risk tolerance usually have a lot of free time, so they can freely monitor stock movements on the market and earn big profits.
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China's growth rate has___
that of most other countries,___
A. topped, but its real GDP per person declined in 2008–2009.
B. lagged behind, and its real GDP is close to other Asian economies
C. lagged behind; but its real GDP per person is higher than other Asian economies
D. equalled, and its real GDP per person declined in 2008-2009.
E. topped, but its real GDP per person is still lower than other industrialized countries
Answers
Answer: E. topped, but its real GDP per person is still lower than other industrialized countries
Explanation:
China has seen consistent growth for much of the past 20 years which has enabled them to topped the growth rate of most other countries.
Their real GDP per person however, is still lower than other industrialized nations like the U.S. and U.K.
This is due to their large population - largest in the world - making their GDP per person appear smaller despite them having a very substantial real GDP.
Which qualifications are typical for someone working in E-Marketing?
A good teamwork skills, knowledge of search engines and social media
B math skills for calculating prices, good teamwork and physical stamina
C pleasant attitude, critical thinking skills for designing surveys, social awareness
D creative, persuasive, good social skills when dealing with news media contacts
Answers
Answer: A good teamwork skills, knowledge of search engines and social media
Answer:
A :)))))))))))
Explanation:
6. Identify a change in technology during each of the time periods in history below that you believe improved the
way marketing activities were completed. List the example and explain how it contributed to marketing during
that time.
(a) 1900s to 1930s
(b) 1930s to 1950s
(c) 1950s to 1980s
(d) 1980s to today
Answer:
Answers
Answer:
Prior to the 1950s, the production orientation generally held true due to the growing numbers of affluent and middle class people that capitalism had created.
Say’s Law states that the “production of commodities creates, and is the one and universal cause which creates, a market for the commodities produced”.
The emphasis of firms adopting a production orientation of marketing would have been based on the theory of economies of scale, which are the cost advantages that an enterprise obtains due to expansion.
what is the irr in the following cash flow? year end 0 1 2 3 4 5 cash flow ($) -6,000 1,800 1,800 1,800 1,800 1,800
Answers
The discount rate that reduces the present value of the cash flows to zero is needed to determine the internal rate of return, or IRR. The supplied cash flows' IRR. Therefore amounts to around 22.15%.
We may compute the internal rate of return (IRR) of the cash flows using a financial calculator or a spreadsheet tool like Microsoft Excel: Discounted cash flows add up to $797.37 in total. The discount rate that brings the sum of the discounted cash flows to zero is what we need to determine in order to calculate the IRR.
We may determine the IRR to be about 22.15% by using a financial calculator or spreadsheet application.
Yr Cash Flow Discounted Cash Flow
0 -6,000 -6,000
1 1,800 1,650.41
2 1,800 1,512.22
3 1,800 1,380.20
4 1,800 1,254.05
5 1,800 1,133.49
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Correct Question:
what is the irr in the following cash flow?
year end 0 1 2 3 4 5
cash flow ($) -6,000 1,800 1,800 1,800 1,800 1,800
Items that are used in the production of an item but are not necessarily the primary items being processed are recorded as
Answers
The items that are used in production but are not necessarily primary items are known as Supplies inventory.
What are supplies inventory?Supplies are items that are used in production to help in the production of the final good.
They are not however used to produce the primary good which means that they are not processed as primary items. They simply help the primary good to be produced.
In conclusion, these are supplies inventory.
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Information regarding competitors, the industry and the general economy would be examples of _____ databases.
Answers
Answer: External
Explanation:
Can ah budget include donations to charities
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Answer:
A common rule of thumb for budgeting for charitable donations uses the concept of the 50/30/20 split for your budget. The other portion is for your wants: About 30 percent of your budget goes into this category, which might include vacations, gifts, or date nights.
PLEASE HELP AHH- KS Perez pays 12% average tax rate on gross pay in federal taxes. KS also pays $100 into a 401(k) retirement fund each pay period and pays a $200 per-pay-period contribution to an employer-subsidized health insurance policy. complete KS’s earnings statement below. Round your answer to the nearest dollar.
Answers
Completing KS Perez's earnings statement are as follows:
Gross pay this period = $2,000
Gross pay YTD = $52,000
Federal Income Tax = $9,724
Virgin Income Tax = $2,284
FICA Social Security = $2,740
FICA Medicare = $641
Adjusted Gross Income = $44,200
Other Deductions:
Health Insurance = $5,200
401 Contributions = $2,600
Total other deductions = $7,800
Data and Calculations:
Hourly rate = $25
Hours worked per pay period = 80 hours
Bi-weekly earnings =$2,000 ($25 x 80)
Year to date total gross income = $52,000 ($2,000 x 52/2)
Federal Income Tax Rate = 22% = $9,724 ($44,200 x 22%)
Virginia Income Tax Rate = $720 + 5.75% over $17,000
= $720 + ($27,200 x 5.75%)
= $2,284 ($720 + $1,564)
FICA Social Security = 6.2% = $2,740 ($44,200 x 6.2%)
FICA Medicare = 1.45% = $641 ($44,200 x 1.45%)
Other Deductions:
Health Insurance = $5,200 ($200 x 26)
401 Contributions = $2,600 ($100 x 26)
Total other deductions = $7,800 ($5,200 + $2,600)
Adjusted Gross Income = $44,200 ($52,000 - $7,800)Thus, the adjusted gross income of KS Perez for the year is $44,200.
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If an insurer requires a medical examination of an applicant in connection with the application for life insurance, who is responsible for
paying the cost of the examination?
A The examiner
B The applicant
C The insurer
D The cost of the examination will be waived.
Answers
The cost of the examination will be waived
D
Chloe enjoys her math classes, and she would like to find a career that will allow her to continue to use her math skills. Which career would be a good fit for her? A. accountant B. purchasing agent C. commercial carpenter D. human resources manager
Answers
Answer:
Just give
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Does the amount of effort that you put into your courses increase or decrease the marginal cost of your education? Explain your answer. PLEASE HELP!
Answers
The amount of effort that you put into your courses increases the marginal
cost of your education.
Marginal cost refers to the incremental cost which is accrued as a result of
increase in goods and services.
In this scenario, amount of effort put into courses entails more time and
money spent from buying of books and other materials. This therefore
depicts an increase in the incremental and marginal cost.
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Which type of worker would most likely be able to begin work after receiving a high school degree and completing
an on-the-job apprenticeship?
A. a miner
B. a forester
C. a conservationist
D. a park worker