Answer:
A market economy is an economy that is primarly based on free markets, where consumers and producers meet to buy and sell goods and services, and prices are set according to the forces of supply and demand.
A Soviet-style communist economy, is also known as a planned economy or command economy. This is an economy where private property does not exist, the government owns all property, and plans the economy with years of anticipation. Prices are set by the government, as well as the quantities of goods and services that are produced and delivered.
The problem with planned economies is that it becomes too difficult for the government to coordinate economic activity. The government lacks a lot of vital information, and ends up assigning resources to activities that are not efficient. These economies also lack proper prices, which are the signals that coordinate economic activity.
For that reason, the market economies prevailed over the planned economies, they were simply more efficient: better at producing more goods and services, at cheaper prices, and using less resources.
Answer:
The government, not the market, deciding
what gets produced leads to producing
many items consumers don’t want. - There was an abundance of flannel pants
and a lack of jeans.
Command economies have a lack of
incentives to produce what would sell. - The Communist Party “knew what everyone
needed" (or thought it did).
The government answers economic
questions in a command economy. - The Soviet Union’s economy was based
on centralized planning.
Resources can be misused when the
market doesn’t decide how resources
are used. - The emphasis was on military production,
not fashionable clothes.
Market systems respond to signals from
consumers. - Jeans were being sold in the West and
not in the Soviet Union.
Explanation:
PLATO
Based on this module, what option would you choose to prepare your taxes? Why? What is one advantage and one disadvantage to using this option to file your tax return?
Answer:
1.1099 form to prepare my taxes
2.The ADVANTAGE is that I will get to fill it out when compare with the W-2 which is already filled out and may take more money than I spent.
3. The DISADVANTAGE is that in a situation where anything I filled in the 1099 form is wrong the IRS may find out which means I will be the one to pay for the damage
Explanation:
1.Based on the module the option I would choose to prepare my taxes is that I will use the 1099 FORM TO PREPARE MY TAXES, reason been that it will gives me an option on telling either the government or IRS of the amount of money I spent in the year.
2.The ADVANTAGE is that I will get to fill it out when compare with the W-2 which is already filled out and may take more money than I spent.
The second ADVANTAGE with the 1099 is that I will definitely get to write an approximate of the amount of money I wasted and the amount of money I needed to get back from the IRS.
3. The DISADVANTAGE is that in a situation where anything I filled in the 1099 form is wrong the IRS may find out which means I will be the one to pay for the damage.
Second DISADVANTAGE is that in a situation where the information I wrote in that form is wrong the IRS will either give me a penalty or charge me more Amount of money.
What might a cruise ship company do to accompany the needs of a single person? Exam Activity 3-1 Hospitality.
Answer:
yes
Explanation:
Emy is at dinner with her group of friends when one of them pulls out a new pen that not only writes but takes pictures. It also saves what it writes on a flash drive so the user can download the file later to her laptop through bluetooth. She rolls her eyes and makes a few skeptical comments about the fancy device. Emy’s attitude fits closest to which adopter category?
Answer:
Late Majority.
Explanation:
The adoption of a product by consumers is divided into five categories, namely, innovators, early adopters, early majority, late majority, and laggards. Such customers are known as adopters who adopt to new technology differently. The category of adopters was proposed by Everett Rogers in 1962.
In the given scenario, Emy exemplifies Late majority adopter.
Late Majority adopters are those adopters who adopts new innovation or technology after observing that the product has been adopted fruitfully by the majority of society. They rank on the second last position of the adopters. They are more skeptical to the product before adopting it. So, Emy fits the late majority category of adopters as she is skeptical about the fancy device shown by her friend.
Which of the following entry level job requires a four year college degree?
A. Marketing researcher
B. Purchasing agent
C. Graphic designer
D. Retail sales agent