Payroll tax is generally considered to be a regressive tax, meaning that it takes a larger percentage of income from lower-income people than higher-income people.
the transfer of business data between different companies using networks is called ________.
The transfer of business data between different companies using networks is called EDI.
Electronic Data Interchange (EDI) is a method that enables businesses to transmit data to each other digitally instead of on paperwork. It is the digital exchange of corporate data using a defined order. Parties involved are companies that transact commerce digitally.
Business data is the totality of data relating to a firm and its activities. Any collected information, unprocessed data and insights, feedback from customers statistics, unit sales, and other types of data might be included in this. Data gives businesses insights into customer behaviour or market conditions before they occur, enabling businesses to foresee trends, seize places, and keep up with their rivals.
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a(n) _____ is an artificial intelligence application that can be used for web marketing.
A (n) Intelligent Agent is an artificial intelligence application that can be used for web marketing.
What is Web Marketing?When a business uses social media sites or the internet in order to promote their business this is called web marketing. Web marketing considers as significant as it has a wider reach to the target audinece as compared to traditional marketing.
Artificial intelligence refers to using advanced technology for innovation, data gathering, or data comparison. The tool which is used for web marketing is Intelligent Agent.
This helps in making complex business decisions and helps in evaluating data effectively.
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Can the government take private properties and convert it for public use?
The government has the right to take private property for public purpose under eminent domain.
What is eminent domain?According to the Fifth Amendment of the United States Constitution, the government must offer just compensation whenever it appropriates private property for public use. The Supreme Court ruled in Kohl v. United States, 91 U.S. 367 (1875), that the government may take property through the exercise of eminent domain as long as it pays the owner just compensation. A taking can take the form of an actual government seizure of property or it can take the form of a regulatory taking, in which case the government restricts someone's use of their property to the degree where it counts as a taking.
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A tax adjustment must be made in determining the cost of ________.
a. common stock
b. long-term debt
c. retained earnings
d. preferred stock
A tax adjustment must be made in determining the cost of long-term debt.
Any debt that will take your company more than a year to pay off is considered long-term debt. The balance sheet must be changed to reflect fair market value when valuing a firm. The current market rate of interest, not the interest rate stipulated in the loan agreement, should be used to bring the long-term debt down to its net present value.
The Adjusted Net Asset value will be off if the long-term debt is not valued at fair market value. This creates a few issues. The Adjusted Net Assets will not be presented accurately, to start. If the Adjusted Net Assets are overstated or understated, it will be determined by the market interest rate. Second, there may be a claim that you violated the development criteria since the long-term loan wasn't valued at fair market value, which might subject you to further liabilities.
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What are the rules of ledger?
The correct mentioning of the transactions is the important aspect of the rules of a ledger.
Ledger is an accounting system that records your financial transactions, such as purchases, sales, and payments. To ensure accuracy and reliability, it is important to follow certain rules when using a ledger. Here are a few of the most important rules of ledger:
1. Each transaction must be recorded in the correct account. This means that all sales must be recorded in the sales account, all purchases must be recorded in the purchases account, and all payments must be recorded in the payments account.
2. Each transaction must be recorded correctly. This means that every transaction must be accurately and completely documented, including the date, amount, and other relevant information.
3. Transactions must be recorded in chronological order. This means that the most recent transaction should be recorded first and the oldest transaction should be recorded last.
4. All entries must be balanced. This means that the sum of all debits must equal the sum of all credits.
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Unearned revenues are generally:
a. Revenues that have been earned and received in cash.
b. Revenues that have been earned but not yet collected in cash.
c. Liabilities created when a customer pays in advance for products or services before the revenue is earned.
d. Recorded as an asset in the accounting records.
e. Increases to stockholders equity.
Unearned revenues are generally liabilities created when a customer pays in advance for products or services before the revenue is earned.
A client is the recipient of a good, service, product, or idea gained from a seller, vendor, or supplier through a financial transaction or exchange for money or some other valuable consideration. Early communities relied on a favor-based gift economy.
Later, when commerce grew, fewer lasting human relationships were created, based on temporary wants rather than long-term social goals. Customers are often regarded to be the consumers of products and services, whereas clients are those who receive specialised guidance and answers.
Hence the correct option is C
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jane co. owns 90% of the common stock of dun corp. and 100% of the common stock of beech corp. on december 30, dun and beech each declared a cash dividend of $100,000 for the current year. what is the total amount of dividends that should be reported in the december 31 consolidated financial statements of jane and its subsidiaries, dun and beech?
Dividends between companies are abolished after consolidation. Dividends given to noncontrolling shareholders are the only dividends left after the elimination entries: 10% of Dun's dividend of $100,000, or $10,000.
In the consolidation process, all intercompany obligations are removed. On the consolidated balance sheet, the sums are not listed as assets or liabilities. The combination of numerous smaller businesses into a few considerably larger ones is known as consolidation. When used in the context of financial accounting, consolidation alludes to the compilation of a group company's financial statements into consolidated financial statements. Consolidation is a tax phrase that describes the treatment of a collection of businesses and other entities as a single company for tax purposes. According to the Halsbury's Laws of England, amalgamation is described as "the joining of two or more undertakings into one undertaking, the shareholders of each blending company being, fundamentally, the shareholders of the blended undertakings."
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A firm will shut down in the short run if:
(a) total revenue is greater than total costs
(b) total costs are greater than total revenue
(c) it incurs an economic loss
(d) normal profit is greater than zero
(e) total revenue is less than total variable costs
The correct response is (e) total revenue is less than total variable costs. If the following conditions are met: total revenue is less than total variable costs;
Variable costs are those that fluctuate as a company's production of a good or service changes. Marginal costs times the quantity produced equals variable costs. They can also be viewed as regular costs. Half of the overall cost is made up of variable expenses and fixed costs. Direct costs are expenses that have a specific expense item as their direct connection. However, not all variable expenses are also direct costs. For example, variable manufacturing overhead expenses are variable costs that are categorized as indirect costs as opposed to direct costs. Due to their fluctuation with the quantity produced, variable costs are also known as unit-level expenses. While direct material and direct labour are frequently referred to as prime cost, direct labour and overhead are frequently referred to as conversion costs. Understanding how costs are split between variable and fixed costs is essential for marketing. This distinction is crucial in order to accurately forecast the income generated by various changes in unit sales and, subsequently, the financial impact of suggested marketing initiatives. Nearly 200 senior marketing managers were polled, and 60% said they considered the "variable and fixed expenses" statistic to be extremely helpful.
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Esmerelda is a single taxpayer. She has an AGI of $100,000 for the current tax year. She paid unreimbursed employee business expenses of $1,500, investment adviser's fees of $600, and $425 for income tax preparation during the year. What amount, if any, is allowable as an itemized deduction
The amount that Esmerelda will get as an itemized deduction would depend on Esmerelda's Internal Revenue Service (IRS).
Esmerelda is a single taxpayer with an Adjusted Gross Income (AGI) of $100,000 for the current tax year. During the year, she paid unreimbursed employee business expenses of $1,500, investment adviser's fees of $600, and $425 for income tax preparation. The question is whether any of these expenses are allowable as itemized deductions.
The Internal Revenue Service (IRS) allows taxpayers to deduct certain unreimbursed employee business expenses such as travel expenses, meals, and entertainment that is related to their job, as well as certain investment adviser's fees, and income tax preparation costs. In order to take advantage of these deductions, Esmerelda will need to itemize her deductions on her tax return. She should review the IRS guidelines to determine which of her expenses qualify so that she can maximize her deductions.
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Regarding rules addressing acting in concert, each of the following must observe position and exercise limits except A) an individual with accounts at several brokerage firms. B) two or more individuals who have an agreement to act together. C) a registered representative (RR) accepting unsolicited orders to exercise options. D) an investment adviser placing exercise orders for his discretionary accounts.
Regarding rules addressing acting in concert, each of the following must observe position and exercise limits except A) an individual with accounts at several brokerage firms.
What are brokerage firms?An intermediary who brings together buyers and sellers to complete a deal for stock shares, bonds, option, and other financial instruments is known as a brokerage company or brokerage company. Once the transaction is completed, commissions or fees are levied as payment to the broker. The "big four brokerages" are the name given to them frequently. The top four companies in terms of clients and assets are Charles Schwab, Fidelity Investments, E*TRADE, or TD Ameritrade. The products, offerings, and pricing structures of each brokerage are examined in this succinct essay. Offerings from businesses like Morgan Stanley, Goldman Sachs, or even the Bank of America Merrill Lynch could serve as examples of full-service brokers. The major brokerage firms typically maintain an inventory of shares that are offered for sale to their clients.
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1) The board of directors for a regional trucking company is comprised of a chairman/CEO, a president, two executive vice presidents, and 13 additional executives; all of whom are
Multiple Choice
• trustees.
• external stakeholders.
• inside directors.
• private investors.
2) A factory that makes potato chips could use a ________ to assess its impact on people, the planet, and profits. In reviewing different company portfolios, where in the company would you guide her to be successful with her research?
Multiple Choice
• strategic alliance
• social audit
• Fair Trade purchase
• crowdfund
3) In the Management in Action case, the intense pressure surrounding college admissions that plagues both students and parents, is an example of a(n) ________ force.
Multiple Choice
• political-legal
• sociocultural
• technological
• ethical
Answer:
1) inside directors
2) social audit
3) I don't know (maybe first answer?)
Explanation:
My guesses?
What are 3 basic employee rights and responsibilities?
The rights of employees Enjoy Color during Work without Discrimination. either a real or imagined disability. a choice between gender and gender identity (includes Sexual Harassment).
What fundamental rights do workers at a job have?Be free from discrimination or harassment based on one's genetic information, national origin, race, color, religion, sex (particularly pregnancy, gender identity, or gender identity), or sex (including family medical history). Pay the same amount for labor of the same worth. The Act establishes and specifies three employee rights: the "right to know" information about the dangers associated with their employment, the right to report workplace hazards to OSHA, and the right to protection against reprisals for exercising OSHA-protected rights.
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The price elasticity of demand is the.
A.Percentage change in price divided by the percentage change in quantity
B.Percentage change in price divided by the percentage change in quantity demanded
C.,Dollar change in quantity demanded divided by the percentage change in quantity supplied
D.A percentage change in quantity demanded divided by the percentage change in price
A percentage change in quantity demanded divided by the percentage change in price. (Option D)
What does the term "price elasticity of demand" mean?The percentage change in quantity required divided by the percentage change in price is used to calculate it. For a good or service with a high price elasticity of demand, the quantity demanded will change significantly with only a minor change in price, whereas for one with a low price elasticity of demand, the quantity demanded will change only modestly with a huge change in price.
The price elasticity of demand formula in Option D is correct. The market for a certain brand of luxury cars serves as an illustration of price elasticity of demand.
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A percentage change in quantity demanded divided by the percentage change in price. (Option D)
What does the term "price elasticity of demand" mean?It is calculated as the percentage change in quantity needed divided by the percentage change in price. A good or service with a high price elasticity of demand will see a substantial change in quantity demanded with just a little change in price, whereas one with a low price elasticity of demand will see only a moderate change in quantity demanded with a significant change in price.
Option D's price elasticity of demand formula is accurate. The premium automobile market for a certain brand serves as an example of price elasticity of demand.
What are the many types of price elasticity?Calculating the price elasticity. Demand elasticity is the word used to describe how responsive demand is to changes in the factors that influence it. Price elasticity of demand, income elasticity of demand, and cross elasticity of demand are the three different types of elasticity of demand.
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A) Which is the best definition of attribution? a. rephrasing the ideas found in a resource b. synthesizing various resources to support a main idea c. acknowledging and giving credit to another d. adhering to a particular citation style B) Which is most likely to require a citation? a. easily verifiable fact b. your own experience as a student c. widely known fact d. idea from your field of study
The act of acknowledging the work of someone who is the genuine creator of that work and giving due credit to them is known as attribution. A citation will most likely be required for an idea from your field of study.
Giving proper credit to the source of an idea or piece of information is the goal of both attribution and citation. The license or use conditions make the difference. The presentation of each is identical. A copyright or license may stipulate that use must be acknowledged. Research in the arts, like research in science, lacks a crucial foundation. When it comes to citing and attribution, it is least likely to be appropriate in academic settings to give credit to the person whose idea was used.
The most accurate way to define attribution is to acknowledge and give credit to another person. An idea from your field of study will probably need a citation. The least risky approach is to assume that you must memorize citation formats when conducting research and writing a paper with proper citations.
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During the ______ step in the strategic management process, managers answer two questions: what industries should we compete in and how should we compete in those industries
During the decisions step in the strategic management process, managers answer two questions: what industries should we compete in and how should we compete in those industries
Setting policies, procedures, and goals in order to increase a company's or organization's competitiveness is the process of strategic management. Strategic management typically focuses on efficiently allocating personnel and assets to accomplish these objectives. Strategic management in the field of management refers to the development and execution of the main objectives and initiatives undertaken by a firm's managers on behest of stakeholders, based on the consideration of resource base and an evaluation of the external and internal environment in which the company operates.
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Correct answer is Division.
What is a strategic management process?Strategic management procedure is a continuous tradition of appraisal that a business adopts to outdo the competitors. Simple as it may sound, this is a complicated technique that additionally covers formulating the organization's basic imaginative and prescient for present and future objectives.
Why is strategic management system important?The strategic administration procedure helps groups examine their current situation, aids them in the improvement of strategies, and then helps corporations to each install and evaluate the effectiveness and success of the carried out strategies. You can reap business increase in a downturn.
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https://brainly.com/question/28175057#SPJ4a person ________ be cheaply prevented from using national defense, a(n) ________ good.
In general, a person cannot cheaply prevent the use of national defense, which is an essential public good. National defense is a public good in the sense that it is a service that is provided to all members of society and that has an inalienable benefit.
In other words, its benefits cannot be limited to only a few people. National defense is also a non-rivalrous good, meaning that its use by one person does not deplete the amount available to others. In this way, national defense is a valuable public good that benefits all people, and it would be very difficult and expensive to prevent one person from using it.
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Many companies pay celebrities large sums of money to endorse their products, hoping to persuade consumers to buy their products. This technique is referred to as
Many companies pay celebrities large sums of money to endorse their products, hoping to persuade consumers to buy their products. This technique is referred to as celebrity endorsement.
Celebrity branding, known as celebrity endorsement, is a type of advertising campaign or marketing technique that uses a celebrity's notoriety or social status to promote a product, service, or issue. Celebrity advocates are recruited by marketers, believing that the positive perceptions of the advocates extend to product or brand perceptions.
It is also used by non-profit organizations because celebrities appear frequently in the media. This helps reach a wider audience and raise funds. A celebrity's ability to reach a broad audience of potential customers makes celebrity branding and celebrity endorsements of the company's products particularly successful.
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To entice consumers to buy their products, several businesses pay high-profile celebrities enormous sums of money to endorse their goods. The term "celebrity endorsement" refers to this strategy.
Celebrity endorsement is a very old method of marketing communication in which a company's image is created and messages about the brand are communicated by using popular culture and the celebrities that are a part of it.
Celebrity branding, often known as celebrity endorsement, is a type of advertising campaign or marketing technique that makes advantage of a celebrity's notoriety or social standing to advertise a good, service, or issue. Celebrity endorsers are used by marketers in the belief that the positive perception of the endorser would spread to the perception of the product or brand. Celebrities are used by non-profit groups as well since they frequently appear in the media, which reaches a larger audience and helps with fundraising.
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What are the 5 data analytics?
Prescriptive, predictive, diagnostic, descriptive, and cognitive analytics are the five different types of analytics.
What is Cognitive analytics?A variety of analytical methods are covered by cognitive analytics, an intelligent system that can evaluate massive data sets and provide unstructured data structure. Simply defined, a cognitive analytics system explores through the data stored in its knowledge base to identify answers that make sense for the problems being addressed. Analytics with human-like intellect is what cognitive analytics is. This might involve comprehending a sentence's context and meaning or, given a lot of information, identifying certain items in a picture. A cognitive application can get better over time since cognitive analytics frequently incorporates machine learning and artificial intelligence technologies. Simple analytics are unable to uncover certain linkages and patterns that cognitive analytics can. A company may utilize cognitive analytics to keep track of client behavior trends and new developments. In this method, the company can forecast future results and adjust its goals in order to perform better. Predictive analytics, which uses data from business intelligence to create predictions, includes certain aspects of cognitive analytics.
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the majority of new small business owners rely heavily on _____ to finance their start-ups.
The majority of new small business owners rely heavily on personal sources, including family, friends, and credit cards to finance their start-ups.
To succeed, small business entrepreneurs require operational, emotional, and financial support. It might be difficult to launch a firm and operate it in a market that is frequently harsh. The social network they have access to is one of the most important sources of support for entrepreneurs and small business owners.
Even in the midst of the chaos and overwhelming burden of starting and maintaining a business, friends and family can serve as a support network to help business owners deal with stress, retain perspective, and enhance work-life balance. Apart from moral assistance, family and friends' financial support and investments are frequently advantageous to business owners.
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A cookie company would not design a line of products for children under six months of age because they would not be able to eat a cookie. This is a simplistic example of which criteria for effective segmentation
A cookie manufacturer wouldn't create a range of goods for babies under six months old since they couldn't consume cookies. This is a crude illustration of Substantial criteria for efficient segmentation.
What does a substantial marketing segment mean?One of the four essential factors for successful market segmentation, along with accessibility, actionability, and substantiality. Substantiality conveys the idea that the target market must be large enough to be profitable. Also called as importance.
What factors are used for segmentation?Approaches to selecting segmentation criteria. It is necessary to generate homogeneous groups of individuals with observable shared qualities in order to segment. They could consist of information on their residence, age, profession, or even their online conduct. They are the segmentation criteria, as we like to say.
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Which term describes the graphical representation of data?
A) Data transparency
B) Data stewardship
C) Data integrity
D) Data visualization
The term describes the graphical representation of data is Data visualization. Thus, option D is correct.
What is graphical representation?A method of analyzing numerical data is graphical representation. It depicts in a diagram the relationship between data, ideas, information, and concepts.
The graphical representation of information and data is known as data visualization. Data visualisation tools, which use visual elements such as charts, graphs, and maps, make it easy to see and understand trends, outliers, and patterns in data.
Therefore, Data visualization is the correct answer.
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What measures do governments take to promote exports and restrict imports? Who benefits and who loses from pro- tectionist policies? What is the net outcome for society?
Governments may take a number of measures to promote exports and restrict imports. These include, but are not limited to, imposing tariffs and quotas, subsidizing local industries, and providing tax incentives to domestic exporters.
The primary beneficiaries of protectionist policies are domestic firms, who gain an advantage over foreign competitors. Consumers may also benefit if the policy leads to lower prices for locally produced goods. On the other hand, protectionist policies can lead to higher prices for imported goods, making consumers worse-off. Furthermore, foreign exporters may face trade barriers and reduced demand for their goods, leading to a decline in their profits.
The net outcome for society is that the benefits of protectionism are often outweighed by its costs. This is because protectionism often leads to higher prices, reduced competition, and a misallocation of resources. Moreover, protectionism can lead to retaliatory measures from other countries, resulting in a trade war which can damage the global economy.
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predict the product, if any, of reaction between methyl propanoate and li(ph)2cu in ether.
Predict the product,if any, of the reaction between propanoyl chloride and the following reactants (a) Li(Ph)2Cu in ether propanoate metnus. PROPANAMIDE.
The reaction product is 1-propanol both reduction reaction products are shown below.Carbon atoms are numbered for clarity.Lithium aluminum hydride is a strong reducing agent. It will reduce esters to alcohols. Sodium borohydride is milder compared to lithium aluminum hydride and will not reduce esters. When dehydration is carried out, an ether will be formed. This reaction,if precipitation is expected, write a balanced net ionic equation for the reaction of potassium sulfate and barium nitrate.
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What causes GDP to decline?
shifts in consumer spending. A decline in GDP will result from any decrease in consumer expenditure.
A country's gross domestic product (GDP) is the sum of the market values of all the finished products and services produced within its borders during a certain time period. It serves as a thorough assessment of a particular country's economic health as a wide indicator of entire domestic production.
While GDP is frequently estimated on an annual basis, it is also occasionally calculated on a quarterly basis. In the United States, for instance, the government produces an annualized GDP estimate for both the calendar year and each fiscal quarter. Since each set of data in this report is presented in actual terms, price changes are taken into account and the data is therefore net of inflation.
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Companies fire employees to cut expenses, which causes GDP to fall and unemployment rates to climb. In a recession, businesses see their profit margins decline on a microeconomic level.
What exactly is GDP?The total market value of all the finished goods and services produced within a nation's boundaries over a specific time period is the gross domestic product (GDP) of that nation. It acts as an extensive indicator of all domestic production and a comprehensive evaluation of the economic health of a given nation.
Although it's occasionally done, GDP is sometimes computed on a quarterly basis, despite most estimates being done on an annual basis. For the fiscal year and each quarter of the calendar year, the government in the United States, for instance, estimates the annualized GDP. Since each piece of data in this report is provided in actual terms, price changes are taken into account, and as a result, the data is net of inflation.
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What is a TTL of 14400?
"Through the Line Marketing," or 14400 Actually, this kind of marketing employs an integrated approach.
What exactly does TTL in business mean?A packet's or data's "time-to-live" number specifies how long it should remain on a network or system before being deleted. The context determines what TTL, usually packet lifetime, means.
What does TTL in banking mean?Treasury Tax but instead Loan Service, also known as TT&L, is a service known as the Federal Reserve Institutions of the New States it tries to keep tax receipts throughout the banking industry by discharging them into specific banks that satisfy certain requirements.
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16. Investment () includes: A the amount spent on new factories and machinery. B. the amount spent on stocks and bonds C the amount spent on consumer goods that last more than one year D. the amount spent on purchases of art 17. Which of the following is true? A. A depression is a recession that is mild and relatively brief. B. The expansions and contractions of real world business cycles last varying lengths of time and often differ in magnitude. C. The timing of business fluctuations is regular and therefore easily predictable D. During the contractionary phase of the business cycle, the rate of unemployment is generally quite low 18. If imports exceed exports, as in recent years, then exists A a trade surplus B. a trade deficit C a trade imbalance D. trade disequilibrium 19 which can be approximated by the growth of gross domestic product, ultimately determines the prevailing standard of living in a country A. Trade balance B. Inflation C. Education D. Economic growth 20. The difference between nominal GDP and real GDP is: A nominal GDP measures actual productivity B nominal GDP adjusts for inflation C real GDP adjusts for inflation D real GDP excludes imports and exports
Out of the alternatives being provided, it may be stated that the investments include the factors such as the amount spent on stocks and bonds. Therefore, the option B holds true.
The perspective of investment can be referred to as an understanding that has led to a monetary engagement in the different classes, which have a definite intention of making clear positive returns over the amount being diluted. The investments do not guarantee a return, because even the safest investments have chances of defaults.
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Complete question
Investment () includes:
A the amount spent on new factories and machinery.
B. the amount spent on stocks and bonds
C the amount spent on consumer goods that last more than one year
D. the amount spent on purchases of art
Who monitors the bank in maintaining balance?
Financial professionals monitors the bank in maintaining balance
Financial professionals works tirelessly to ensure that all customers maintain a healthy balance in their accounts in a bank.
Monitoring system is designed to keep track of customer deposits and withdrawals to ensure that their accounts remain in good standing.
Financial professionals provide customers with resources and advice to help them make smart financial decisions.
Additionally, financial professionals are also available to answer any questions or concerns customers may have about their accounts or our services.
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in process industries like chemicals and beverages, the bill of materials is also known as a(n)
In process industries like chemicals and beverages, the bill of materials is also known as a(n) Formula
A bill of materials (BOM) is a far reaching stock of the unrefined substances, congregations, subassemblies, parts and parts, as need might have arisen to fabricate an item. More or less, it is the finished rundown of the multitude of things that are expected to construct an item.
BOMs likewise incorporate the directions for getting and utilizing the materials. A BOM is now and then alluded to as an item structure, gathering part rundown or creation recipe (in process fabricating ventures).
For instance, if a bike producer needs to fabricate 1,000 bikes, the bill of materials will comprise of the relative multitude of individual parts expected to construct the bike. The rundown would incorporate the seats, outlines, brakes, handlebars, wheels, tires, chains, pedals and cranksets, as well as the amounts of every part and their expense. BOMs can be made involving actual items or a product as-a-administration bill of materials item.
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What is a business cycle the growth of a business?
The four stages of an economic cycle—also known as a business cycle—are expansion, peak, contraction, and trough. Since 1950, the length of an economic cycle in the United States has generally ranged between five and a half years.
Businesses typically experience a rise in sales or demand for their products as the economy grows. To fulfill this rise in demand, they will manufacture more goods and services. Businesses must increase production of goods and services, which necessitates hiring additional personnel.
Understanding business cycles is crucial for success while running a business. A business cycle is the measured expansion and contraction of economic growth over a given time period. It is also referred to as a trade or economic cycle. Business owners can make wise judgments if they have a thorough understanding of business cycles.
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Economic choice and competitive behavior are the resultofA. basic human greed.B. poverty.C. private ownership of resources.D. scarcity.
Economic choice and competitive behavior are the result of (A). basic human greed is correct option.
The issue of scarcity arises from the fundamental notion that human needs and wants are limitless, but that there are only a limited number of resources on earth that can be used to generate goods and services to satisfy those needs and wants. Though there is nearly always some degree of government interference in such economies, "capitalism" is the term used to describe the economic system that is founded on private ownership and competition driven by profit.
Due to a lack of resources, people must decide what to produce, how to produce, and for whom to produce. As a result, there are additional uses for economic resources, which increases competition.
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