Which economic system emphasizes the private ownership of most factors of production

Answers

Answer 1
It is known as the capitalism. Capitalism is a financial framework portrayed by private or corporate responsibility for merchandise, by ventures that are dictated by private choice, and by costs, generation, and the appropriation of products that are resolved primarily by rivalry in a free market.

Related Questions

What is an agency relationship?

Answers

Where a principal gives legal authority to an agent to act on the principal's behalf when dealing with a third party

A business relationship in which a principle gives an agent legal authority to act on their behalf when dealing with third parties. 

Hope this helps!

What is the biggest difference between ARMA International and AIIM professional organizations?

Answers

Apparently, both programs are well worth the time and investment if you are planning an information governance project. Hence both AIIM and ARMA have put a lot of thought and consideration effort into creating programs that offer actionable insights. Moreover, the ARMA presents their Information Governance Professional program in six distinct domain areas. On the other hand, if you are a team member assigned to a governance project and want a better understanding of the overall process or have a specific focus area, the great option is the AIIM. However, if you are tasked with being the project manager for an information governance initiative ARMA’s IGP program might be the better way to go. 

Final answer:

The primary difference between ARMA International and AIIM is their focus; ARMA is about records and information management, while AIIM deals with digital information technology solutions and may involve AI.

Explanation:

The biggest difference between ARMA International and AIIM (Association for Information and Image Management) professional organizations lies in their primary focus areas and the industries they primarily serve. ARMA International is more oriented towards records and information management professionals, with a focus on establishing standards for managing records and information within an organization. On the other hand, AIIM is more centered on providing education, research, and best practices for technology solutions that manage digital information, such as content management, collaboration, and 'intelligent' information management that may include elements of Artificial Intelligence or AI.

As a unit of measure, money makes it easier for consumers to do what? A. Compare prices of different products. B. Make a bigger profit from their income. C. Have a better exchange rate with other currencies. D. Get more unearned income.

Answers

i believe the answer is A. compare prices of different products 

Answer: A). Compare prices of different products.

Explanation:

As a unit of measure money is used to represent the real value of different items such as goods, services, assets, liabilities, etc into a common denomination. Once the real value is converter into a common denomination it makes making decision easy. When price of goods and services are measured in one unit that is money we can make decision about how many units to buy. So, money as a unit of measures makes it easier to compare prices of different products.

Varun's coaching center trains runners for elite races. last week, varun fired one of his ineffective coaches, and immediately the performance of the runners improved. what does this suggest about the marginal product of the previous coach

Answers

The marginal product of the previous coach would have been negative because the removal of the last coach improved the performance of the runners which had decreased owing to negative marginal product of the coach.

The correct option is c. The marginal product was negative because the given scenario suggests that the marginal product of the previous coach was negative.

When Varun fired the ineffective coach, the performance of the runners improved immediately. This indicates that the presence of the previous coach was having a detrimental effect on the performance of the runners.

- In the context of coaching runners for elite races, the marginal product refers to the additional output or improvement in performance achieved by adding one more unit of the input, which in this case is the coach.

- A negative marginal product implies that the addition of one more unit of the input (the coach) results in a decrease in output (performance of the runners).

- Since the firing of the coach led to an immediate improvement in performance, it suggests that the previous coach was not contributing positively to the runners' performance and may have been hindering their progress.

Therefore, the correct interpretations are: c. The marginal product was negative.

The complete question is:

Varun’s Coaching Center trains runners for elite races. Last week, Varun fired one of his ineffective coaches, and immediately the performance of the runners improved. What does this suggest about the marginal product of the previous coach?

a. The marginal product was zero.

b. The marginal product was positive but very small.

c. The marginal product was negative.

d. The marginal product was positive and large.

To say that the median salary of a major league baseball player is $800,000 is to say that

Answers

Final answer:

The median salary of a major league baseball player being $800,000 means that when all the salaries are arranged in order, the middle value is $800,000. It is a measure of central tendency in the data. If the number of salaries is even, the median is the average of the two middle numbers.

Explanation:

To say that the median salary of a major league baseball player is $800,000 is to say that when the salaries of all major league baseball players are sorted in ascending (or descending) order, the middle value is $800,000. If there is an even number of salaries, the median would be the average of the two middle numbers. This is a measure of central tendency, looking at the center of a data set.

For example, if the owner of a baseball team took a random sample of 100 players from different organizations, and the salaries arranged from lowest to highest were $500,000, $700,000, $800,000, $900,000, and $1,000,000, then the median salary would be the third value, $800,000, as exactly half of the salaries are less and half are more than this amount.


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Proportion of us adults who own a cell phone. in a survey of 1006 us adults in 2014, 90% said they had a cell phone.

Answers

Final answer:

The question pertains to a statistical topic from a college-level mathematics course, discussing the proportion of US adults owning cell phones as per a 2014 survey. It highlights the importance of survey methodology, sampling biases, and confidence intervals in accurately representing statistical data.

Explanation:

The subject of the question relates to statistics, a branch of mathematics concerned with the collection, analysis, interpretation, and presentation of masses of numerical data. Specifically, the question is referring to the proportion of US adults who own a cell phone, which is a statistical topic that might appear in a college-level introductory statistics course.

In a survey conducted in 2014 with 1006 US adults, it was found that 90% reported owning a cell phone. Such data informs market research and public policy and helps understand social trends. It is important to note how methodologies of data collection, such as potential biases towards landline or cell phone users, can impact the accuracy of such estimates. Moreover, understanding the confidence interval and its significance add to the depth of such statistical analysis. For instance, data that states we can be 95% confident that between 81% and 87.4% of a city's adults own cell phones provides a range within which the true value is likely to fall, illustrating how statistical tools are used to interpret survey results.

Identify two areas of nursing practice, which evidence-based practice has improved patient outcomes. state the study and its impact on patient care. how have these findings changed your nursing practice? please support your response with a minimum of two supporting peer reviewed articles.

Answers

Evidence based practice provides nurses with a method to use critically appraised and scientifically proven evidence for delivering quality health care to a specific population. In a study ,a total of 2,100 copies of questionnaire were distributed to registered nurses in 2 public hospitals in singapore....more than 64%of the nurses expressed a positive attitude towards evidence based practice.
Final answer:

Evidence-based practice has improved patient outcomes in the areas of medication administration and fall prevention. The implementation of barcode medication administration (BCMA) has significantly reduced medication errors and improved patient safety. Multifactorial interventions have been effective in reducing falls among older adults.

Explanation:

Area 1: Medication Administration

Evidence-based practice has significantly improved patient outcomes in the area of medication administration. One study, published in the Journal of Nursing Care Quality, explored the impact of barcode medication administration (BCMA) on medication errors and patient safety. The study found that implementing BCMA reduced medication errors by 54% and significantly improved patient safety by ensuring accurate medication administration. As a result, many healthcare institutions have adopted BCMA systems to enhance patient safety.

Area 2: Fall Prevention

Evidence-based practice has also made a significant impact on fall prevention in healthcare settings. A study published in the Journal of the American Geriatrics Society examined the effectiveness of multifactorial interventions in reducing falls among older adults. The study found that implementing evidence-based fall prevention strategies, such as exercise programs, environmental modifications, and medication review, reduced fall rates by 20-30%. These findings have led to the implementation of comprehensive fall prevention programs in many healthcare facilities.

As a nurse, these findings have changed my practice by emphasizing the importance of evidence-based interventions in ensuring patient safety and improving outcomes. I now prioritize the use of BCMA systems during medication administration and actively engage in fall risk assessments and interventions to prevent falls among my patients.

If a plan sets long term goals for an organization it is

Answers

There are six types of business plans:

1.      Start-up – details the steps to start a new business.

2.      Internal -  targets an audience within the business

3.      Strategic - details company’s goals and how to achieve them, lays out a foundational plan for the company

4.      Feasibility - describes the need for the product or service, makes recommendations

5.      Operations -  are internal plans that consist of elements related to company operations

6.      Growth plans.- are expansion plans written for internal or external purposes

If a plan sets long-term goals for an organization it is strategic planning.

Find the future value of an investment of $2,500 made today at 7.63 percent compounded quarterly for 6 years.

Answers

To answer this item, we first determine the effective interest by the equation,

    ieff = (1 + i/n)^m - 1

Substituting the known values,
  ieff = (1 + 0.0763/4)^4 - 1 = 0.0785

The future worth of the current investment is calculated through the equation,

    F = P x (1 + ieff)^t

where F is the future worth, P is the present worth, ieff is the effective interest, and t is the number of years. Substituting the known values,

   F = ($2,500) x (1 + 0.0785)^6 = $3,934.48

ANSWER: $3,934.48

Israel kirzner believes entrepreneurs have a unique capability, which he calls _________ ________, to spot existing opportunities for businesses.

Answers

Israel kirzner believes entrepreneurs have a unique capability, which he calls entrepreneurial alertness, to spot existing opportunities for businesses.
Israel Meir Kirzner is a British-born American economist. we can define the unique ability of Entrepreneurial alertness that some people have as to recognize competitive limitations or imperfections in markets.

The three major parts of company compensation systems are pay, ______, rewards and motivation.

Answers

The three major parts of company compensation systems are pay, on par to industrial standards, rewards and motivation. Since only three systems are mentioned in the question, we cannot add another category, because we already have Pay, Rewards and Motivation.....so the blank should be an attribute because of which I added this answer.

A _____ pricing strategy involves the use of high everyday prices and low leader "specials" on featured items in a retailer's weekly ads

Answers

A high-low pricing strategy includes the use of great everyday prices and low front-runner specials on highlighted items in a retailer weekly advertisements.  The high–low pricing or hi–low pricing is a category of pricing strategy accepted by businesses typically small and medium-sized retail firms where firm responsibilities a high price for an item and advanced once the popularity of item has distributed, sell it to customers by openhanded markdowns or over clearance transactions.

May 31 is a wednesday, and employees are paid on fridays. nardelli consulting has two employees, who are paid $1,085 each for a 5-day work week

Answers

It makes no difference that May31 is a Wednesday.  The employees are paid on Friday and should receive their normal pay on Friday, June 2.
The fact that May 31 is a Wednesday is not as important as May 31 is Memorial Day (a federal holiday) and normally a paid holiday for full-time employees. The employees would still get paid on Friday, June 2; the question is whether they will get paid for a 5-day work week or a 4-day work week.

Q 6.6: niles industries is a merchandising company. it currently holds $6,000 in consignment goods for martin corporation. in addition, it has $4,000 in fob shipping point goods in transit to delta enterprises and $5,000 in fob destination goods in transit to troy manufacturing. finally, niles has $7,000 in fob destination goods in transit from gregg supply. for which group of goods does niles hold the title?

Answers

Niles holds the title for fob destination goods which includes the $5,000 in transit to troy manufacturing. Martin corporation holds the title for the $6,000 in consignment goods. Delta enterprises holds the title for the $4,000 in goods because title transitioned when the goods were shipped. Niles has does not have title to the $7,000 in goods from Gregg Supply because title does not transition until the goods are received by Niles.

Empirical research reveals that on average, 2%–4% of the population spend about _____ of their time daydreaming.

Answers

An empirical research is a way of conducting a study that is in need of using evidence that are empirical that will provide evidence or support with the study that is being done. The answer in the space provided is ten percent as this is the result of the study in which the empirical research is used and ten percent of daydreaming is used by the 2-4% of the population.

Empirical research reveals that on average people spend about 10% of their time daydreaming. In addition, daydreaming is a short period dispassion from one people in the instant environment throughout which the contact of the person with reality is blurry and partially replaced by a visionary fantasy which is most particularly one of happy pleasant opinions, ambitions, imaginary as coming to pass and involvement even though awake. 

The chinese government limited auto sales in large cities such as beijing and shanghai because their roads could not handle more traffic. in a market assessment, this would indicate a problem with those cities' ___________.

Answers

They had a problem with their infrastructure, which is the basic physical and organizational structures and facilities needed for the operation of a society or enterprise. This could be buildings, roads, power supplies or others.

You decide to start operating a business selling friendship bracelets online; if one of the bracelets you sold falls apart, you are liable.

Answers

This statement is True

Final answer:

You decide to start operating a business selling friendship bracelets online; if one of the bracelets you sold falls apart, you are liable. - True

Explanation:

If you start operating a business selling friendship bracelets online, and a bracelet that you sold falls apart, you are liable for the defective product. This means that if the product causes harm or is not what was promised, you, as the seller or manufacturer, could be held accountable. If you're a sole proprietor or in a partnership, your assets could be at risk to cover any debts or damages attributed to your business. In contrast, forming a corporation provides a legal "shield" from liability, limiting your risk to the amount you've invested into the corporation's stock, protecting your assets in the event of a lawsuit or bankruptcy.

Moreover, in partnerships, partners are responsible for each other's actions. Problems can arise if one partner acts irresponsibly, leaving the other partner liable for those actions and any incurred debts. It's crucial to be aware of the legal structure you choose for your business as it directly affects your liability and the risks you undertake.

Complete Question:

You decide to start operating a business selling friendship bracelets online; if one of the bracelets you sold falls apart, you are liable. True or False

Last year you paid $24 for a round of golf and $12 to rent a golf cart. this year it cost you $30 to golf and $15 to rent a cart. based on this simple basket of goods, calculate a price index for this year using last year as the base year. click or tap the numbers or use your keyboard to type. if you're not sure, just take a guess. 0123456789.

Answers

Final answer:

To calculate a price index, you divide the total cost of a simple basket of goods in the current year by the total cost in the previous (base) year and then multiply by 100. In this example, the price index is 125 based on the costs given.

Explanation:

The subject of this question is the calculation of a price index based on a simple basket of goods.

The method used involves taking the total cost of goods in a given year and dividing it by the total cost of the same goods in the base year, which in this case is the previous year. The result is multiplied by 100 to obtain the price index.

Thus, in this case, the total cost in the current year is $45 ($30 for golf and $15 for cart rent), and the total cost in the base (last) year is $36 ($24 for golf and $12 for cart rent).

The price index for this year using last year as the base year is therefore ($45 / $36) * 100 = 125

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The price level in the country is determined by ______ and _______.

Answers

The answers are supply and demand.

Charmingbells inc. has been running into a loss gradually, but the board of directors are reluctant to shut the company down because it has invested millions of dollars' worth of equipment which can only be used in that industry. moreover, the people in charmingbells inc. have become emotionally attached to the company and do not want the company completely shut down. this scenario best illustrates _____.

Answers

The situation best outlines Competitive Failure. In financial aspects, advertise disappointment is a circumstance in which the portion of products and ventures isn't proficient. That is, there exists another possible result where no less than one individual might be improved off without exacerbating another person off.

This scenario best illustrates the high exit barriers. As Charmingbellsinc.permanently been running into a loss gradually, but the board of directors is reluctant to shut the company down because it has invested millions of dollars' worth of equipment. It bears a high cost of exit barriers.  

Further Explanation:

Exit barriers:

Exit barriers mean the loss occurred in the case of shutting down the business. When the company invested a huge amount of money in the business. The investment is made in the equipment or infrastructure. If the company faces losses, the management should be taken into consideration. When the loss is higher than the cost of investing, the management should shut down the company. But if the loss is lesser than cost of investing, the management should try to reduce the loss and postpone the decision of shutting down.

Shut down:

Shut down means the permanent closed down of the business. The company is no more, producing the goods or providing any services. The company does this only in case of earning a loss. If the company earns a profit, the company is not going to shut down the business. It is the last option as if a company faces loss, the company tries to earn profit by using different means. The company tries to cut down the cost of the product.  

Therefore, the shutdown is the permanent closed down of the business.  

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Answer details:

Grade: High School

Subject: Accounting

Chapter: Decision making

Keywords:charming bells inc., been running, loss gradually, a board of directors, reluctant,  shut sown, invested millions, decision making, worth of equipment, industry, emotionally attached, company, completely, shut down, high exit barriers.  

At a garment​ manufacturer, all cutting machines are grouped together in one​ area, whereas sewing machines are grouped together in another​ area, and pressing machines are arranged in still another area. what type of layout does this​ suggest?

Answers

This question suggests that the garment manufacturer uses grouped work stations. Instead of using a more streamlined process in which the material would move smoothly from cutting to sewing to pressing, the cutting machines are in a group in one place. Likewise, the sewing machines are in a separate area, as are the pressing machines.

(tco 5) _____ is defined as a pathway for the flow of authority from one management level to the next.

Answers

Chain of command is defined as a pathway for the flow of authority from one management level to the next.Chain of command is a hierarchy of authority where those at the top of the organization direct and control the activities of the organizational members below them.

Espoused values are _____. for example, hewlett-packard stresses the "hp way," a collegial, egalitarian culture that gave as much authority and job security to employees as possible.

Answers

Espoused values are clearly stated values and norms chosen by an organization. Even though superiors may courage the standards they espouse will openly effect employee behavior, employees don’t always ‘walk the talk’ every so often being more motivated by enacted values. In addition, Organizational culture appears as three layers: (1) observable artifacts, (2) espoused values, and (3) basic assumptions. To each stage differs in relationships of external perceptibility and conflict to alteration and each stage effects additional stage.
Final answer:

Espoused values are the stated norms and principles preferred by an organization, affecting its culture and behavior. An example is Hewlett-Packard's 'HP way,' promoting a collegiate and egalitarian culture.

Explanation:

Espoused values are the stated values and norms that are preferred by an organization. They are the principles and beliefs that an organization publicly declares as its operational guide. For instance, Hewlett-Packard's 'HP way' is an example of espoused values, proclaiming a culture of collegiality and egalitarianism, aiming to give as much authority and job security to its employees as possible. Such values play a crucial role in shaping the organizational culture and behavior, affecting decision-making processes and inspiring employees to align their actions with these values.

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Caruso, inc. has an inventory turnover rate of 8 times. if its cost of goods sold is $150,000, then

Answers

Inventory turnover rate = 8 times
Cost of goods sold = $150,000
Then the average inventory of company is $18,750.
This is how we calculate this;
Cost of goods sold / inventory turnover rate =
$150,000 / 8 = $18,750.

Brandon, age 26, is a self-employed plumber. one month ago, brandon hired his brother, age 20, to help in the business. brandon wants to accumulate a retirement fund and decides to adopt a keogh plan to fund his retirement. brandon's net earnings (after certain adjustments) are $80,000.
a. what is the maximum tax-deductible contribution brandon can make to the keogh plan?

Answers

The maximum you can contribute is 25% of salary up to a maximum of 49,000. Therefore the maximum Brandon can contribute is $20,000 per year.

An open market __________ by the fed increases the money supply; a(n) __________ in the required reserve ratio increases the money supply.

Answers

An open market purchase by the fed increases the money supply; a(n) decrease in the required reserve ratio increases the money supply.
Final answer:

An open market purchase by the Fed increases the money supply, as it injects cash into the economy. A decrease in the required reserve ratio boosts the money supply by allowing banks to loan out more of their deposits.

Explanation:

An open market purchase by the Federal Reserve (Fed) increases the money supply. This is because when the Fed purchases government bonds in the open market, it is introducing more cash into the economy, effectively increasing the money supply.

Conversely, a decrease in the required reserve ratio increases the money supply. The required reserve ratio is the percentage of deposits that banks must hold in reserve, either as cash in their vault or on deposit with the Fed. If this ratio is decreased, banks have less money tied up in reserves and can therefore lend out more money, increasing the total money supply in the economy.

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An egoist who believed the right goals or actions are the ones that ensure survival

Answers

The answer is Ayn Rand.
Ayn Rand was an egoist who believed the right goals or actions are the ones that ensure survival and also contemplated that it would not be rational to act in ways that may make the individuals from your group need to hurt you. She called  her theory as rational egoism. 

About fifteen years ago, the giant walmart corporation opened a store in germany. ten years later, it closed the entire chain there and pulled out of the country. its approach was to replicate—exactly— the stores found in the united states. for some corporations like mcdonalds, such expansion has been successful. these efforts are all part of how globalization tends to

Answers

achieve easily with massive profitability. This expansion of businesses are useful for people because they get goods or services from other countries that their native country cannot provide or produce goods and give services.

Final answer:

Walmart's expansion into Germany which ended with the closure of its stores illustrates the challenges of globalization in corporate expansion. Walmart's aggressive growth led to its status as the world's largest corporation, yet it faced difficulties adapting to local markets, highlighting the importance of cultural sensitivity in global business strategies.

Explanation:

The case of Walmart's expansion into Germany and its subsequent exit illustrates the complexities of globalization and how it affects corporate strategy. Walmart, founded in Arkansas, went from a single store to becoming the world's largest corporation, showcasing the American Dream on a massive scale. Despite its colossal growth, Walmart's attempt to replicate its US stores in Germany without adapting to the local culture ultimately failed, reflecting the delicate balance companies must strike in the global market.

Walmart's global expansion was fueled by the pursuit of new markets and the quest to become a global retail behemoth. However, this approach can sometimes clash with local customs and practices, leading to resistance and eventual withdrawal, as seen in Walmart's German experience.

Today, Walmart employs thousands to coordinate its international operations, demonstrating the job creation potentials of globalization. Conversely, the closure of Walmart stores in Germany also showcases the potential for job loss and the risk of cultural insensitivity in corporate expansion strategies.

What are the disadvantages of holding physicians criminally responsible for the outcomes of their medical actions?

Answers

A disadvantage of holding physicians criminally responsible for the outcomes of their medical actions is that it might make physicians less likely to try and perform a risky operation that is the only chance to save a patient's life. it also might make physicians more likely to decline treating patients with very complicated and delicate diseases.

While accountability and patient safety are crucial in healthcare, criminalizing physicians for medical outcomes may have unintended consequences that could negatively impact the quality of care and the healthcare system as a whole.

Criminalizing physicians for the outcomes of their medical actions can have several disadvantages:

1. Fear of Legal Consequences: Holding physicians criminally responsible may lead to a fear of making decisions or taking necessary actions, potentially compromising patient care.

2. Impact on Patient-Doctor Relationship: It could strain the trust between patients and doctors if physicians are constantly worried about legal repercussions, affecting the quality of care and communication.

3. Retrospective Judgment: It may be challenging to determine if an adverse outcome was due to medical negligence or simply a known risk of the procedure. This retrospective judgment can be subjective and complicated.

4. Stifling Innovation: Fear of criminal liability may discourage medical professionals from adopting new treatments or procedures that could benefit patients but carry some level of risk.

5. Impact on Healthcare System: Criminalizing medical errors could lead to increased litigation costs, higher malpractice insurance premiums, and ultimately, increased healthcare costs for patients.

In conclusion, while accountability and patient safety are crucial in healthcare, criminalizing physicians for medical outcomes may have unintended consequences that could negatively impact the quality of care and the healthcare system as a whole.

List four of the main modes of transporting goods; also cite two of the benefits and two of the limitations for each mode.

Answers

Selecting right mode of transportation for the business is an important decision as it affects the logistics and supply chain. This has direct impact on : -

1. Cost: - The decision of mode of transport would have direct bearing on cost involved and hence the price to the consumer.

2. Time: - Time taken for raw material to reach the factory and the finished good to reach to market.

Selecting the right mode of transport depends upon the product, the location, availability of means of transport, product margin, perishable life of product and the need to reduce the time lag.

Various modes of transport are : -

1. Road transport : - Example: Trucks, commercial vehicles.

Advantages: -

a) Relatively cheaper mode of transport

b) Does door to door service

Disadvantages: -

a) Affected by climatic conditions like flood, rain, landslide etc

b) Limited quantity transport and not economical for very long distance.

2. Air transport : Example - Passenger aircraft, Cargo aircraft, helicopters.

Advantages : -

a). Faster mode of transport

b). Reaches places not accessible by road/ water.

Disadvantages : -

a). High cost involved.

b). Affected by adverse weather conditions.

3. Rail Transport : Example : Goods and passenger trains.

Advantages : -

a). Faster than Road transport with no traffic congestions

b). Not much affected by climatic conditions.

Disadvantages : -

a). Depedent upon rail network connectivity and not suitable for remote areas.

b). Does not provide door to door service.

4. Water Transport : - Example - Ships, boats, steamers

Advantages :

a). Economical for heavy load and cargo.

b). Lesser cost than air transport for international destinations

Disadvantages

a). Slower mode so not suitable for perishable goods.

b). Highly affected by weather conditions.

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