survive. In addition to death, however, one could also say that self-sufficiency is boredom or ignorance. How does specialization and trade help you to avoid boredom and ignorance?
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In the discussion of Big Idea Five, we identified that, “self-sufficiency is death” because most of us would not be able to produce for ourselves the food and shelter that we need to survive. In addition to death, however, one could also say that self-sufficiency is boredom or ignorance. How does specialization and trade help you to avoid boredom and ignorance?
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- Most people, economists included, consider child labor to be morally unacceptable and would support aggressive efforts to eliminate such practices-including shutting out imported products made with such labor. Which of the following is true? Select the correct answer below: child workers will have to go back to school and improve their skills eliminating such practices may not be a good solution as workers may have even less attractive alternative jobs, perhaps scavenging garbage or prostitution O such practices will make it possible for children to not be exploited O governments will have to step up their financial aid to needy families so children will not have to workIn light of the fact that people are finding it difficult to earn a living during the pandemic, what do you consider to be a profitable crop-related business? Justify.In order to correct the problems associated with external costs, O standards must be established that make it illegal to pollute. O the prices of all goods must be raised so people will consume less of the world's resources. the government must take over production of industries that are responsible for most of the pollution. the signals given to the economy must change so that decision-makers will take into account all the costs of their actions.
- One of your long-term customers asks if you can change the terms to FOB Destination to help them save money. Do you change the terms, why or why not? What positive and negative implications could this have for your business, and your customer? What, if any, restrictions might you consider if you did change the terms?the kind of outsourcing undertaken by American health care providers is a good thing or a bad thing for the American economy. Explain your reasoning.As a poverty alleviation tool, microfinance is sustainable and becoming more widely used and commercialised. Why is microfinance important for the poor? * Microfinance provides the poor with capital and a safe place to store money Microfinance allows the poor to manage risk and smooth consumption Microfinance enables the poor to pursue alternate livelihood options Microfinance allows the poor to run businesses and live a consumptive lifestyle Microfinance can increase the incomes of the poor Microfinance allows the poor to neglect professional capital
- The key to competing is a global economy that impacts ethics is ____________. Cultural standards Labor Costs Ethical and moral standards All the above None of the aboveYour roommate at school believes that all fixed costs are always avoidable. Do you agree? How would you explain your point of view to your roommate?An implication of the life cycle theory is that: Multiple Choice Households are planners whose actions extend beyond their current resources and pleasurable activities today to future needs and assets to meet them. Utility can be measured in money terms. Household spending decisions are based on the amount of income they earn currently. All of the choices are correct. None of the choices are correct.
- Intrinsic Motivation and Extrinsic Incentives In a Harvard Business Review article titled “Why Incentive Plans Cannot Work,” (Volume 71, Issue 5) author Alfie Kohn wrote: “Research suggests that, by and large, rewards succeed at securing one thing only: temporary compliance. When it comes to producing lasting change in attitudes and behavior, however, rewards, like punishment, are strikingly ineffective. Once the rewards run out, people revert to their old behaviors. . . . Incentives, a version of what psychologists call extrinsic motivators, do not alter the attitudes that underlie our behaviors. They do not create an enduring commitment to any value or action. Rather, incentives merely—and temporarily—change what we do.” Required: 1. Do you agree with this quote? Why? 2. As a manager, how would you seek to motivate your employees? 3. As a manager, would you use financial incentives to compensate your employees? If so, what would be the keys to using them effectively? If not, then how…The following problem consist of two parts. First, a short description of a certain mi- croeconomic situation with assumptions and considerations is presented. Second, two statements are made about the situation. You have to identify whether each statement is true or false and elaborate why you assess each statement the way you do. Consider the labour discipline model, that we discussed in the lecture. Assume that the economy is recovering from the pandemic and the unemployment rate decreases. Which of the following statements are correct? Which are false? In the new equilibri- um... Statement 1: ... the workers put in the same amount of effort, because the reser- vation wage did not change. Statement 2: the firms can reach the same effort level at a lower wage.what financial arguments could you use to justify your proposed recommendations to segregate FLTs and the worker?
