B) Traditional
C) Command
D) Mixed
E) Socialism
Answer:
A) Free-market
Explanation:
The free-market economic system primarily relies on prices for allocating resources and goods. In a free-market system, individuals and businesses are free to make their own economic decisions, and prices are determined by the interaction of supply and demand in the market. This price mechanism serves as a signal for resource allocation, as prices adjust according to the scarcity or abundance of resources and goods. As a result, resources are allocated based on consumer preferences and the willingness to pay, leading to a decentralized and efficient allocation of resources.
Free-market economic systems primarily rely on prices to allocate resources and goods, using the forces of supply and demand to signal and guide producers and consumers.
The economic system that primarily relies on prices for allocating resources and goods is the Free-market system. In this system, prices are determined by the forces of supply and demand, without any government intervention. These prices, in turn, guide producers to allocate resources efficiently, and they also signal consumers about the cost and value of goods and services. An example of a country that predominantly uses the free-market system is the United States, although it also includes certain mixed economy elements.
Jill was paid $649.60 last week
answer.$649.60
b. Cash and revenue increase of $12,000
c. Cash increase and accounts receivable decrease of $12,000
d. Accounts receivable decrease and capital increase of $12,000
The disadvantages of an ERP system when it works in isolation are:
Enterprise Resource Planning (ERP) System refers to a system used by businesses to manage its activities such as manufacturing, supply, services, and other such activities. ERP is a link that connects each and every aspect of an enterprise.
When an ERP system works in isolation, it is difficult for the departments to collect and analyze data and hence affects its functioning.
Also, the organization may face losses as the data required may not be readily available to a department and hence the decisions cannot be taken effectively.
Therefore the correct options are 1 and 2.
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Answer:
Option B, 1 & 2
Explanation:
The complete question is-
The disadvantages of a system when it works in isolation are:
1. It becomes difficult to collect and analyse data needed for the functioning of any department.
2. It results in the loss of profits to the organisation that could have been better spent in decision making.
3. Business executive or decision-maker cannot take good decisions with the isolated data.
a. 1 & 3
b. 1 & 2
c. 2 & 3
d. 1
Solution -
An isolation system also has work control system, training and competence, operating procedures and management. This system can work adequately only when these arrangement work adequately and this not possible without integration with the entire system.
It become difficult to collect isolated data, its assessment and making decision regarding the betterment of system.
Hence, Option B is correct
The example of aligning compensation with company performance is a major league baseball manager who is paid based on his team's winning percentage.
This is because the manager's success is directly tied to the team's success, which in turn, affects the financial performance of the team and the company as a whole.
By compensating the manager based on winning percentage, the company ensures that the manager has a strong incentive to make decisions that will benefit the team's performance, such as selecting the best players, making strategic moves during games, and fostering a positive team culture.
On the other hand, the other examples provided do not necessarily align compensation with company performance.
An hourly worker for a retail company who is paid for time spent working does not have a direct impact on the company's financial performance, as their compensation is not tied to the company's revenue or profitability.
A salesperson for a manufacturer who is paid a commission based on her individual sales may have some alignment with company performance, but it still depends on the salesperson's individual efforts rather than the overall success of the company.
Similarly, a program director for an event company who is compensated based on the number of participants in individual events he organizes may have some alignment with company performance, but it may not reflect the profitability of the company as a whole.
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