Answer:
Competition encourages innovation, which causes growth
Explanation:
The free market is an economic system based on supply and demand with little or no government control. ... Free markets are characterized by a spontaneous and decentralized order of arrangements through which individuals make economic decisions. Being a market with little or no government control limiting them , people are able to think out of the box in order beat their competitors and remain relevant thereby introducing newer brands to the market which at the long run helps to attain economic growth
Market growth It is all about the circular flow diagram. Firms produce more because there are more people willing to buy goods and they are free to do so, not a government to stop them. In addition prices are stable because of competition and there is a lot of variety for the consumer.
Secured credit refers to credit that is secured by a piece of security, such as a car or a house. This implies that if you mistake on your repayments, the lender has the legal right to take control of your property.
A vehicle loan, which is a loan used to buy an automobile, is an instance of this. An unsecured debt, on either hand, is something that is not secured by anything.
Because the security offers security, interest rates on secured car loans are often cheaper. Furthermore, these loans usually have set interest rates, making it easy to budget for this outlay and prevent getting behind on repayments.
Learn more:
Secure credit is credit that is given with a connection to a piece of collateral, such as a car or a home. This means that, if you were to default on your payments, the lender would be legally entitled to taking possession of the collateral. An example of this is a car loan, which is a loan that is used to purchase a car. On the other hand, an unsecured loan is one that is not protected by any collateral. This means that the lender cannot immediately take your property of you default on the loan. An example of this is a credit card.
In the case of a secured car loan, interests tend to be lower because of the security that the collateral (the car) provides. Moreover, these loans tend to provide interest rates that are fixed, which means that it is easier to plan for this expense and avoid falling behind on payments. The risk for the lender is less with a secured loan, as he is able to take the property and resell it if the borrower is unable to repay the loan. On the other hand, credit card are riskier for the lender (the bank) as they are unsecured, and this means that they are unable to immediately take any property from the borrower who did not repay. Because of this high risk, interest rates also tend to be high.
Answer:
estate
Explanation:
Answer: Timeliness
Explanation: In simple words, timeliness refers to the concept under which an information is being given or transferred to the user in an appropriate time so that is can be used effectively for the intended purpose.
In the given case, Maltec were placing their financial statements 10 days earlier.
Hence from the above we can conclude that the correct option is C .
Answer:
Difference= $10,895.32 in favor of option 2.
Explanation:
Giving the following information:
Option 1:
Annual interest rate of 4.6 percent until you retire in 35 years.
Initial investment= $14,000
Option 2:
Annual interest rate of 5.2 percent until you retire in 34 years.
Initial investment= $14,000
To calculate the future value, we need to use the following formula:
FV= PV*(1+i)^n
Option 1:
FV= 14,000*1.046^35= $67,567.37
Option 2:
FV= 14,000*1.052^34= $78,462.69
Difference= 78,462.69 - 67,567.37= $10,895.32 in favor of option 2.
If you buy a new video game, you cannot pay your cell phone bill. This is an example of...
setting a long term goal
setting a short term goal
realizing opportunity cost
Answer:
realizing opportunity cost
Explanation:
Opportunity cost is a dilemma where consumers need to choose what to do with their money. To buy something he or she wants, he or she necessarily needs to forgo other possible ways to spend their money. This is because consumers have a financial constraint, meaning they can't buy everything they want. Thus, the opportunity cost of buying a video game is all that one fails to buy with the money spent on buying the video game. For example, he or she could take a trip, buy an outfit etc. Thus every consumer choice involves an opportunity cost. In the narrated case, if he buys the video game, he will not have money to pay the phone bill. Being without a phone is very bad, so the opportunity cost in this case is high as it affects the welfare. Given this, the consumer will decide according to the usefulness of the video game and the mobile phone. Then he will choose to use the money for whatever brings him the most satisfaction and well-being.
Realising opportunity cost?
Flexible working arrangement is a practice that allows employees to set varying working hours depending on their personal needs. This modern approach in the workplace enables employees to maximize their time both in and out of the office. It permits employees to have a work-life balance. Employees are now able to spend more quality time with their family and friends while being reinvigorated to work effectively.