What role does the government play in capitalism?

July 8, 2024 No Comments

A: The proper role of government in a capitalist economic system has been hotly debated for centuries. Unlike socialism, communism or fascism, capitalism does not assume a role for a coercive, centralized public authority. While nearly all economic thinkers and policymakers argue in favor of

What strategies do companies employ to increase market share?

July 8, 2024 No Comments

A: Companies increase market share through innovation, strengthening customer relationships, smart hiring practices, and acquiring competitors. A company’s market share is the percentage it controls of the total market for its products and services. Market share is calculated by measuring the percentage of sales or

What types of consumer goods demonstrate the price elasticity of demand?

July 8, 2024 No Comments

A: All consumer goods are governed by the laws of supply and demand, so every type of consumer good “demonstrates” the price elasticity of demand. This does not mean the relationship between demand and price is equal across all types of consumer goods. For example,

What types of industries are the main consumers of the products of the chemicals sector?

July 8, 2024 No Comments

A: A variety of different industries use chemical products. Construction, automotive manufacturing and other industrial manufacturing operations require the use of chemicals. Many chemical companies process raw materials such as crude oil into more refined products that are used throughout industry. Approximately 80% of the

When did globalization start?

July 8, 2024 No Comments

A: There is fierce debate among scholars about when globalization began. The debate stems partly from the lack of a precise definition of the word. Some argue that globalization as a phenomenon began with the earliest human migratory routes, or with Genghis Khan’s invasions, while

When do economists use real GDP instead of GDP?

July 8, 2024 No Comments

A: Economists use real gross domestic product (GDP) when they want to monitor the growth of output in an economy. Nominal GDP, typically referred to as just GDP, uses the quantities and prices in a given time period to track the total value produced in

When do you buy CIF and when do you buy FOB?

July 8, 2024 No Comments

A: The abbreviation CIF stands for “cost, insurance and freight,” and FOB means “free on board.” These are terms are used in international trade in relation to shipping, where goods have to be delivered from one destination to another through maritime shipping. The terms are

When is it better to use systematic over simple random sampling?

July 8, 2024 No Comments

A: Under simple random sampling, a sample of items is chosen randomly from a population, and each item has an equal probability of being chosen. Simple random sampling uses a table of random numbers or an electronic random number generator to select items for its

When was the Dow Jones Industrial Average first calculated?

July 8, 2024 No Comments

A: Charles Henry Dow was born on a farm in Connecticut on November 6, 1851. Farming didn’t suit Charles Dow, however, so he left to make his mark in journalism. Despite having no formal training and little education, Dow was able to find a series

Where can you buy NetSpend reload packs?

July 8, 2024 No Comments

A: You can only purchase NetSpend reload packs at Giant Eagle, Albertsons, Roundy’s and Pathmark supermarkets. NetSpend cards are prepaid debit cards that offer a variety of features. Account holders can directly deposit or use a reload location to fund their accounts. The card allows

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