Why is evaluating one's spending habits a useful practice? Select the best answer from the choices provided.
A.to explain how money is spent when applying for a loan
B.to provide information to the government for tax purposes
C.to determine whether or not a budget is working
D.to learn weaknesses with money and improve spending habits NextReset

Answer:

Market economy

Explanation:

There are three predominant economic system; market economy, command economy and mixed economy.

1. In Market economy individuals and firms are free to make their own choices. There is no regulatory authority that is monitoring the system. Firms can produce whatever they want and sell it at whatever price they desire. This idea of free market was first suggested by economist Adam Smith. Firms will only manufacture goods that market demands, even if they are dangerous to the society e.g. cannabis and LSD. If the demand exists and firms can make profit, they will produce it regardless of its impact on the society.
2. Command economy is heavily monitored by government. Government decide what to produce, how much to product and for whom to produce. The price is fix for every product. For example, if the price of cheese is set at $10 per pound, everyone will get it for $10. There is no concept of private ownership and everything is owned by the government.
3. Mixed economy, also known as traditional economy is a combination of above two types. There is private as well as public ownership. Firms can produce goods, but they will follow laws and regulations (firms can't make and sell LSD to teenagers). The government provide healthcare, education and protect consumers from private institutions.  

The question deals with a situation where there is no government intervention. The firms are free to make their own production, distribution and pricing decisions. Hence, it’s a market economy.  

Answer:

Information levels

Explanation:

Ben works at a top accounting firm in Salt Lake City and his responsibilities include developing individual and departmental goals, and generating financial analysis across departments and the enterprise as a whole. Ben's duties provide value-added to his company and would be categorized as different information levels

Ben has to manage information on what we can say three different level; individual level which is developing individual goals, team or business unit , which according to the question is departmental goals and generating financial analysis across deparments and on a corporate level, which is the enterprise as a whole which will be reviewed by the executive teamand adding value to the company as a whole.

Answer:

The correct answer is D

Explanation:

Self- serving bias is the term which is defined or described as the tendency of people who attribute the positive events to their own character and attribute the negative events to the external factors.

This bias is the common kind of cognitive bias which is extensively studied in the social psychology.

So, in this case, Helena provide the example of the self- serving bias as when she did not reach the goal, then she stated that her failure is due to poor economy which means she attribute the negative event to external factors.

Answer:

D. self-serving bias.

Explanation:

Because she beat her goal this year by nearly 30 percent, Helena has been telling everyone in the sales department of her incredible skill as a salesperson. But last year when she didn't even reach her goal, she said her failure was due to the poor economy. Helena provides an example of self-serving bias.

Answer:

The correct answer is: "B. The legal and tax considerations in that market".

Explanation:

When a company wants to expand its delivery of products across the world, it is important to research all countries the company wants to reach, which includes the legal and tax considerations of all these different places. Each country has its own norms and functioning of taxes depending on products and the amount of them. This means that the company must research very well which places fit its planning of expansion for providing customers with the right informations and pricing. The other options may be important, but they do not apply to the question because they are important for the whole process of delivery, whether it is local or global.