List government's 2 essential functions in a market economy. 2. (4 pts) List the 2 characteristics of a PRIVATE Good. Give an example of a Private good. Explain how these goods are paid for (funded). 3. (4 pts) List the 2 characteristics of a PUBLIC Good. Give an example of a Public good. Explain how these goods are paid for (funded). 4. (3 pts) "Privatization and Outsourcing can improve Public Goods & Services." True or False - and explain WHY (briefly). 5. (3 pts) 'The Laffer Curve concept in Econ says - the more we raise the tax rate (10% ...20% ...60%), the more tax Revenue the government will receive." True or False? - and explain WHY (briefly). 6. (5 pts) Pick one of the following and explain if it is truly a Public good - or if it should remain a "Private good" (not a function of government). No right or wrong answer, but explain your view in a few sentences: * Healthcare services * Government welfare * Funding for the Arts * Corporate Welfare (bailouts & subsidies to farms, banks, failed businesses) * Education (esp. College level)
Answers
False. Privatization and outsourcing can improve efficiency and effectiveness in the delivery of certain public goods and services, but it does not necessarily guarantee improvement in all cases.
The two essential functions of the government in a market economy are:
Providing a legal and regulatory framework: The government establishes laws, regulations, and institutions to ensure fair competition, protect property rights, enforce contracts, and maintain market stability. This framework creates a level playing field and fosters trust and confidence in the market.
Ensuring public goods and services: The government provides essential public goods and services that are necessary for the functioning of society but are unlikely to be adequately provided by the private sector alone, such as defense, infrastructure, public education, healthcare, and environmental protection.
The outcome depends on various factors such as the nature of the specific good or service, market conditions, and the ability of the private sector to deliver it efficiently. Privatization and outsourcing should be carefully evaluated on a case-by-case basis, considering the potential impact on accessibility, affordability, and equity.
False. The Laffer Curve concept suggests that there is an optimal tax rate that maximizes government revenue, but beyond a certain point, increasing the tax rate can have a negative impact on tax revenue. This is because higher tax rates can discourage economic activity, reduce incentives for work and investment, and may lead to tax avoidance or evasion. Therefore, there is a point at which further increasing the tax rate may actually result in lower tax revenue for the government.
Healthcare services can be considered a public good due to its societal importance and the potential positive externalities associated with a healthy population. However, the degree of government involvement can vary depending on the specific country and healthcare system. There are arguments for both public and private provision of healthcare, with considerations of accessibility, affordability, and equity.
As for government welfare, it is a policy approach aimed at providing assistance and support to individuals and families in need. While it serves a public purpose, its classification as a public good may be debated due to the targeted nature of the benefits and the varying approaches in different societies.
Funding for the Arts is often considered a public good due to its cultural and societal value, preserving heritage, and promoting creativity. However, the level of government involvement can vary, and there are arguments for private funding and market-driven mechanisms as well.
Corporate welfare in the form of bailouts and subsidies to specific industries or businesses is often contentious. While it may have economic justifications in certain cases to promote stability or strategic interests, it is not inherently considered a public good and can be debated in terms of its fairness and potential market distortions.
Education, especially at the college level, can be seen as a mix of public and private good. It benefits both individuals and society as a whole, but the extent of government involvement and funding can vary across countries. There are arguments for government support to ensure accessibility and affordability, while also recognizing the role of private institutions and market-driven mechanisms in higher education.
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Related Questions
a(n) electronic _____ is the electronic exchange of money or scrip.
Answers
An electronic payment is a digital transfer of cash or scrip. Any transaction of currency or digital currency is referred to as an electronic payment.
The Internet, other computer networks, and value systems with digital storage are typically used in this process. It comprises smart cards, charge cards, debit cards, and credit cards.
A digital transaction between two parties is known as a "electronic-payment."
Businesses can be guided by a wide range of considerations to determine the kinds of electronic payments that will likely work best for them. Each of the primary electronic payment kinds has benefits and drawbacks, and it can be challenging for financial decision-makers to decide which kind of e-payments will work best for their procedures.
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What section of the economy is the largest employer
Answers
Answer: public schools in the us
Explanation: 6,646,292...
which of the following statements is correct? a. effects of a project on other parts of the firm or the environment are called externalities. b. externalities can be either negative or positive but they should be correctly accounted for in a project's cash flows when evaluating that project. c. positive externalities on a project are called complements. d. cannibalization is a negative externality that reduces the cash flow in another part of the same company. e. all the statements above are correct.
Answers
The correct statement among the options is: b. Externalities can be either negative or positive, but they should be correctly accounted for in a project's cash flows when evaluating that project.
Externalities refer to the effects of a project on other parts of the firm or the environment. They can be either positive or negative. Positive externalities can provide additional benefits or value to the project, while negative externalities can impose costs or drawbacks.
In the context of evaluating a project's cash flows, it is important to account for both positive and negative externalities to obtain an accurate assessment of the project's profitability and overall impact. By incorporating the effects of externalities into the cash flow analysis, decision-makers can make more informed judgments about the project's feasibility and potential value.
The other statements are not entirely correct:
a. Effects of a project on other parts of the firm or the environment are called externalities: This statement is correct.
c. Positive externalities on a project are called complements: This statement is incorrect. Positive externalities are not specifically referred to as complements. Complements typically refer to goods or services that are consumed or used together.
d. Cannibalization is a negative externality that reduces the cash flow in another part of the same company: This statement is incorrect. Cannibalization refers to a situation where a new product or service offered by a company reduces sales or demand for its existing products or services. While cannibalization can have a negative impact on a company's cash flow, it is not specifically referred to as a negative externality.
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widgets operates a ride-sharing business with over 100 drivers. your boss has asked you to evaluate widgets' legal exposure for the conduct of its drivers. several drivers have had accidents, and one driver was arrested for driving while intoxicated when providing a ride for a company client. widgets has no policy for hiring or checking backgrounds and, for some drivers, allows the use of four company vehicles for transporting large groups.
Answers
The company should establish clear policies regarding driver conduct and provide training on safe driving practices.
Widgets' legal exposure for the conduct of its drivers is potentially high due to several factors.
First, the accidents involving several drivers could lead to liability claims against the company.
If the drivers were found to be negligent or at fault for the accidents, the injured parties could sue Widgets for damages.
Second, the driver who was arrested for driving while intoxicated while providing a ride for a company client presents a significant legal risk.
Not only could this result in a lawsuit from the affected client, but it also raises concerns about Widgets' duty to ensure the safety of its passengers.
Furthermore, Widgets' lack of a policy for hiring or checking backgrounds increases its legal exposure.
Without proper screening, the company may unknowingly employ drivers with a history of reckless behavior or criminal records, which could lead to additional accidents or incidents.
Lastly, allowing some drivers to use company vehicles for transporting large groups without proper training or qualifications poses a potential liability.
If any accidents or injuries occur during these large group rides, Widgets could be held accountable for failing to ensure the safety of its passengers.
To mitigate these legal risks, it is recommended that Widgets implement a comprehensive hiring process, including background checks, to ensure that drivers are qualified and responsible.
Additionally, the company should establish clear policies regarding driver conduct and provide training on safe driving practices.
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A company has a poor impression with the public. Who might they hire to make it better?
A.
A graphic designer
B.
An advertising agent
C.
A public relations manager
D.
A quality assurance professional
Answers
Answer:
c
Explanation:
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What should be the first component to consider when building the AI solution?
Answers
Problem Identification should be the first component to consider when building the AI solution.
Artificial intelligence (AI) offers state-of-the-art technologies that can assist your company in resolving issues, automating processes, and improving customer service. AI-based systems are excellent at things like making product recommendations to users, identifying items in images, and automating repetitive chores to save people time. While wide AI refers to where artificial intelligence will be in the future, narrow AI refers to where it is currently. General artificial intelligence (GAI), often referred to as AGI and strong artificial intelligence (AI), is a subset of AI that is capable of thinking and acting similarly to humans.
In order for the software to learn automatically from patterns or features in the data, artificial intelligence (AI) combines massive amounts of data with quick, iterative processing and sophisticated algorithms.
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Carly is applying for a position at a multinational corporation that will require her to work with people in other countries. Fortunately, she has experience doing this. To prepare for her interview, she is reviewing instances when she demonstrated a global mindset at her previous job. She knows that she will show the interviewer she has a global mindset by telling about times she has appreciated and influenced individuals, groups, organizations, and systems with different social, cultural, political, institutional, intellectual, and psychological characteristics. Carly is eager to tell the interviewer about the team she led of product managers from the United States, Latin America, and Europe. At first, team members were unsure of how to relate to each other, but she was able to find common ground and relate in a culturally sensitive way with each one. Which dimension of her global mindset would this experience show the interviewer? o Social dimension Psychological dimension Cognitive dimension If Carly wants to improve her global mindset, which of the following activities would help her do so? Check all that apply. Following international news by visiting the BBC's website regularly Joining Toastmasters to improve her public speaking ability in English since most people in business know at least so me English Assuming the U.S. viewpoint on international matters is generally the most correct one Traveling to other countries and interacting with local people
Answers
Carly’s experience of leading a team of product managers from the United States, Latin America, and Europe would show the interviewer the social dimension of her global mindset. A global mindset is a set of individual competencies, which allows the individuals to work effectively in a global context.
The dimensions of global mindset include the following: Social Dimension, Cultural Dimension, Political Dimension, Institutional Dimension, Intellectual Dimension, Psychological Dimension and Cognitive Dimension. The social dimension of global mindset refers to the ability of individuals to appreciate and influence individuals, groups, organizations, and systems with different social, cultural, political, institutional, intellectual, and psychological characteristics. As Carly was able to find common ground and relate in a culturally sensitive way with each of her team members from different regions of the world, she exhibited the social dimension of her global mindset.
To improve her global mindset, Carly should perform the following activities: Following international news by visiting the BBC's website regularly. Joining Toastmasters to improve her public speaking ability in English since most people in business know at least so me English. Traveling to other countries and interacting with local people. Thus, following international news by visiting the BBC's website regularly, joining Toastmasters to improve public speaking ability in English, and traveling to other countries and interacting with local people are the activities that Carly should perform to improve her global mindset.
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what dose productivity mean
Answers
Answer:
Productivity means, the act of doing consistent work.
Explanation:
Example: The Factory has gone up by 30% in the last year.
Jenna is working on her productivity so she could pass her class.
What is the marginal revenue and marginal cost for this diagram?
What type of market is this? Explain your answer
Answers
Marginal revenue :
2060120200300420560Marginal cost :
108210192640It is a Monopolistic market structure because marginal revenue is greater than the marginal cost.
Marginal Revenue is the increase in the revenue by selling one extra product in the market. It is calculated by the Change in revenue divided by the change in output.
Marginal cost is the change in cost by producing one extra unit of output. It is calculated by a change in cost divided by the change in units.
Monopolistic market structure is where there are multiple companies producing similar products in the market.Example for monopolistic structure can be a grocery store.
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which of the following is a determinant of supply? multiple choice consumer tastes or preferences. the prices of the factors of production. income. number of buyers.
Answers
Option 1 is Correct. Consumer preferences or tastes influence supply. Taxes are generally thought of as a sum of money taken out of a person's income or imposed on the manufacturing of a certain good.
The key factors of supply are technology, the number of suppliers, their expectations, consumer feedback, a tax freeze, etc. The desire of a consumer to purchase a thing or service is referred to as demand.
The supply of a thing or service refers to how widely that good or service is offered on the market. These two factors have an impact on the market economy of a certain good, sector of the economy, or even a whole country. The cost of the good or service is the determinant of supply that is the most evident. assuming that all other factors are equal.
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Correct Question:
Which of the following is a determinant of supply? multiple choice
1. consumer tastes or preferences.
2. the prices of the factors of production.
3. income.
4. a number of buyers.
The primary operating goal of a publicly-owned firm trying to best serve its stockholders should be to.
Answers
The primary operating goal of a publicly-owned firm trying to best serve its stockholders should be to maximize the firm's expected EPS, which must also maximize the firm's price per share.
What is a a publicly-owned firm?A publicly-owned firm is a firm that is owned by members of the public who buy shares in the firm and thus become shareholders. Managers are employed to run the firm.
As the value of shares of the publicly-owned firm increases, the wealth of shareholders also increase.
Here is the complete question:
The primary operating goal of a publicly-owned firm trying to best serve its stockholders should be to
a Maximize managers' own interests, which are by definition consistent with maximizing shareholders' wealth.
b. Maximize the firm's expected EPS, which must also maximize the firm's price per share.
c. Minimize the firm's risks because most stockholders dislike risk. In turn, this will maximize the firm's stock price.
d. Use a well-structured managerial compensation package to reduce conflicts that may exist between stockholders and managers.
e Since it is impossible to measure a stock's intrinsic value the text states that it is better for managers to attempt to maximize the current stock price than its intrinsic value.
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Explain the benefits of international trade
Answers
Answer:International trade allows countries to exchange good and services with the use of money as a medium of exchange. ... Nations with strong international trade have become prosperous and have the power to control the world economy. The global trade can become one of the major contributors to the reduction of poverty.
Explanation:
Negative criticism is generally
a. private
b. public
C. productive
d. practical
Please select the best answer from the choices provided
Ο Α.
OB
ОС
OD
Answers
Answer:
I think it's b. public
Explanation:
Please mark me brainliest if correct
Negative criticism can be either private or public. Private criticism is usually conveyed in a one-on-one conversation while public criticism is often shared openly in a group setting. Thus option (A) and (B) are correct.
What are negative criticism?The negative criticism is productive or practical depends on how it is delivered and received. The negative criticism that is delivered poorly or without consideration for the recipient's feelings and perspective may not be productive or practical.
Private criticism is usually conveyed in a one-on-one conversation, email, or private message. It may be more constructive as it allows for a more personalized and in-depth discussion of the issues.
Public criticism, on the other hand, is often shared openly in a group setting and it can be more damaging and less productive if not delivered constructively.
The negative criticism can be either private or public Therefore, option (A) and (B) are correct.
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How could government – sponsored grants for the private development of new technologies result in a lower national debt?
Answers
Answer: Making initial development private saves the government from funding all of the research.
Explanation:
A grant refers to an amount of money that is financial assistance thats given by the government or an organization to an individual or firm for a specific purpose. A grant is different from a loan as it isn't meant to be paid back.
Government award grants for the development of technologies, community projects, home insulation etc.
With regards to the question, a government – sponsored grants for the private development of new technologies may result in a lower national debt when the government makes the initial development private thereby saving the government from funding all of the research.
What does this mean
“MY LONG-TERM CAREER GOAL TODAY IS TO BECOME A”
Answers
Explanation:
what this means is it is asking what kind of job or career you want to be. an example is :
i want my career to be a doctor.
so basically this is just a fancy word for job.
Define the term lifestyle and explain the kind of lifestyle you would like in your future. Then, discuss how work affects
lifestyle.
Answers
Answer:
the way in which a person or group lives.
Explanation:
ME working out alot and bieng very fit and It wouldnt effect my lifestyle it would actually help me cause i would live longer and be healthy
The term lifestyle refers to the habits and practices that define the life of a person, which also involves his/her work.
What is lifestyle?Lifestyle can be defined as the set of attitudes and patterns used in a routine and define the life of an individual.
Lifestyle can affect work because it is directly associated with the health and well-being of an individual.In conclusion, the term lifestyle refers to the habits and practices that define the life of a person, which also involves his/her work.
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If you are unhappy about the current transportation system, which of the following politicians will you vote for?
A. Politicians who advocates going to war abroad
B. Politicians who wants to improve roads and highways
C. Politicians who aim to improve the educational system
D. Politicians who suggest increasing the sales tax
Answers
Answer:
It would be B because these politicians would improve the roads and the means of transportation
This answer is most associated with the topic of the transportation system. The improvement roads and highways would also improve on transportation.
identifying an example of the factor of production labour used in producing the Nano
Answers
Answer:
The Four Factors of Production
Land Labor Capital
The physical space and the natural resources in it (examples: water, timber, oil) The people able to transform resources into goods or services available for purchase A company's physical equipment and the money it uses to buy
Technician a says that in a worm gear steering system, most excessive steering free play is usually found in the gearbox. technician b says that in a rack-and-pinion steering system, excessive free play can be found in the bushings. who is correct? choose one answer. a. technician a b. technician b c. both technician a and technician b d. neither technician a nor technician b
Answers
Answer:
b. technician b
Explanation:
Worm gear is the arrangement of gear like a worm in the vehicle. It has rack and pinion steering system. This setup provides smooth drive experience to the drivers. The excessive freeplay in such a setup is found in bushings.
Select the correct answer. The table represents the Consumer Price Index for a basket of goods and services for three consecutive years. Calculate the inflation rate for 2014. 2012 (base year) 100 2013 125 2014 180 A. 50 percent B. 55 percent C. 44 percent D. 40 percent
Answers
The inflation rate for 2014, when given the consumer price index , would be C. 44 percent .
How to find the inflation rate ?When given the Consumer Price Index of a target year and a base year, the inflation rate can be calculated by the formula :
= Change in Consumer price index for target year / Consumer price index of previous year x 100 %
The inflation rate for 2014 is therefore :
= ( 180 - 125 ) / 125 x 100 %
= 55 / 125 x 100 %
= 44 %
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salespeople who adapt their social styles to their clients are more effective than salespeople who do not. this is known as .
Answers
Salespeople are more successful than salespeople who do not adjust their social styles to their clientele. "Adaptive selling" is what we call this.
Who are clients, exactly?1. A person or organization that seeks out the legal, accounting, advertising, or other professionals for advice or services. 2. Any person who's really receiving aid from a social welfare organization, a government agency, etc.
Which clients come to mind?You are a customer, for instance, if you purchase a cup of coffee from a cafe stand at a train station. If however there are credit terms, the proprietor of the coffee stand is the supplier's client. In other words, because of their agreement, the proprietor of the coffee stand is a client of a coffee provider.
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a new use for a product is identified on social media, or those in a target market would like to shop online. what are these examples of?
Answers
A new use for a product is identified on social media, or those in a target market would like to shop online are examples of Identification of an opportunity.
Social media and online shopping can be a great way to uncover potential new uses for products and services. By targeting a specific market, you can gain invaluable insight into what potential customers are looking for and capitalize on opportunities you may have otherwise overlooked.
Social media can be a great resource to identify new uses for existing products or to provide an online shopping experience tailored to your target market.
With the right strategy, you can make the most of the opportunities available to you. Take advantage of the potential that exists with the right approach and you’ll be well on your way to success.
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Economics question: What is the market structure for amazon prime?
Answers
Amazon Prime operates in a monopolistic competition market structure. This means that while there are other competitors in the market, Amazon Prime has a unique set of features and benefits that differentiate it from its competitors, such as free and fast shipping, access to a large collection of music and movies, and exclusive discounts.
However, Amazon Prime is not a monopoly as it faces competition from other similar services such as Walmart+, Target Circle, and Costco memberships. This market structure creates a dynamic environment for Amazon Prime, where it must continually innovate and improve its services to remain competitive.
Additionally, this market structure provides consumers with a variety of options and allows for a healthy level of competition among similar services.
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Interest is defined as
Answers
Answer:
in·ter·est
/ˈint(ə)rəst/
Learn to pronounce
See definitions in:
All
Commerce
Law
noun
1.
the state of wanting to know or learn about something or someone.
"she looked about her with interest"
Similar:
attentiveness
undivided attention
absorption
engrossment
heed
regard
notice
scrutiny
curiosity
inquisitiveness
enjoyment
delight
Opposite:
boredom
2.
money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.
"the monthly rate of interest"
Similar:
dividends
profits
returns
a percentage
Explanation:
Answer:
the feeling of wanting to know or learn about something or someone
What component of GDP would a consumer buying a new house affect?
O government spending
O net exports
investment
O consumer spending
Answers
Answer:
Explanation:
A: the government is not buying the home. You are. Not A
B: The house is not being moved on any soil but American Soil. Not B
C: You could argue that a home is an investment, but not to the GDP. The answer is not C.
D: GDP would call this consumer spending.
Answer:
consumer spending
This is because, consumer spending is the same as personal consumption expenditure
Briefly explain the laws that apply to the promotion of this product/service.
Answers
Explanation:
Product promotion is the act of advertising a good or service with the goal of increasing sales. Many companies use different techniques to promote their products through a vast array of communication media.
howwhat is the firm's marginal cost of producing the 900th gadget? question 20 options: $0.50 $1.60 $2.78 none of the above
Answers
$2.10 is the firm's marginal cost of producing the 900th gadget.
The marginal cost of producing the 900th gadget is the increase in total cost when producing one additional unit. To calculate this, we need to know the fixed cost and variable cost associated with the production process.
The fixed cost is the cost incurred to produce the 900th unit, regardless of the number of units produced. Examples of fixed costs include rent, insurance, and wages of full-time employees.
The variable cost is the cost incurred to produce the 900th unit, and is directly proportional to the number of units produced. Examples of variable costs include raw materials, shipping, and packaging.
The marginal cost of producing the 900th gadget can be calculated by adding the fixed cost and variable cost associated with the production process. Assuming that the fixed cost and variable cost are $0.50 and $1.60 respectively, then the marginal cost of producing the 900th gadget is $2.10 ($0.50 + $1.60). Therefore, the correct answer is $2.10.
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What is an emergency fund?
Answers
Answer:
box of money.
Explanation:
it is for money so u can get the money for emergency's
how do you become popular
Answers
Answer:
Spread the word; advertisements
Explanation:
In order to get popular you need to spread the word about your business, you needadvertisementst,s and sometimes even create your own website. Some website makers include Wix.
1. Describe the JA Finance Park Program and what it aims to teach students. 2. In what capacity do volunteers work with students during the simulation? 3. Explain the purpose of the kiosks during the simulation. 4. Explain why William Anderson went into teaching. 5. Describe the Wealth Effect Game and how it helps students to learn about finances. 6. What is Anderson hoping to do as a next step and why?
Answers
Answer: The answers are given below
Explanation:
1. The JA Finance Park Program is an approach to financial literacy education. JA Finance Park allows the middle and high-school grade students to see, and live the experience of personal finance in the real-life setting of shops, stores, and financial institutions. It gives a realistic view on how to obtain and manage money.
2. The volunteers play a vital role as they guide students when they visit to the facility. Every volunteer helps between ten to twelve students to learn how to balance budget on a limited income.
3. The purpose of kiosk is that it is the research phase where students talk to the mentors about what expenses really mean.
4. William Anderson went into teaching to help students learn how to handle money. Anderson was formerly a banker and he learned that majority of adults lack simple, and basic financial tools which are essential.
5. The wealth effect game simulates the real world to the younger ages in financial terms. Paycheck is based on their academic performance, and there is taxes and deductions on their paychecks, when they raise their grade, and raise their pay.
Answer:
6. To make the game into an app
Explanation: