UNDERSTANDING BUSINESS
12th Edition
ISBN: 9781264161881
Author: Nickels
Publisher: MCG
expand_more
expand_more
format_list_bulleted
Question
Chapter 1, Problem 1PPT
Summary Introduction
To discuss: The share of taxes paid by the individuals that is fair or not. Also, the percentage of tax paid by top 1 percent of earners, top 5 percent of earners and the lowest 50 percent people and the effect of these to become a successful entrepreneur.
Introduction:
Tax is a compulsory payment to be made by all the income or profit earners of the country to its government as a fraction of their total income earned.
Entrepreneurship refers to the scheme within which individuals tend to set up separate business firms, take the risk individually and enjoy the profit alone.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
My business idea is a coffee shop
What is the relevance of entrepreneurship and entrepreneurs in economicdevelopment and society. Explain it in 400 words with the terms below. You may explain it by giving a scenario or an example.
Improves the quality of life
Brings social benefits to the people
this is not a writing assignment
how would you go about minimizing your organization’s unemployment insurance tax.
Chapter 1 Solutions
UNDERSTANDING BUSINESS
Ch. 1.1 - In 1979, Geral Fauss took 5,000 oversized foam...Ch. 1.1 - Prob. 1.1BQCh. 1.1 - Prob. 1TPCh. 1.1 - Prob. 2TPCh. 1.1 - Prob. 3TPCh. 1.1 - Prob. 4TPCh. 1.2 - Prob. 1.2AQCh. 1.2 - Prob. 5TPCh. 1.2 - Prob. 6TPCh. 1.2 - Prob. 7TP
Ch. 1.3 - Prob. 1.3AQCh. 1.6 - Prob. 1.6AQCh. 1.7 - Prob. 1.7AQCh. 1.7 - Prob. 8TPCh. 1.7 - Prob. 9TPCh. 1.7 - Prob. 10TPCh. 1.7 - Prob. 11TPCh. 1.8 - Prob. 1.8AQCh. 1.8 - Prob. 12TPCh. 1.8 - Prob. 13TPCh. 1 - Prob. 1CECh. 1 - Prob. 2CECh. 1 - Prob. 3CECh. 1 - Prob. 4CECh. 1 - Prob. 1CTCh. 1 - Prob. 2CTCh. 1 - Prob. 3CTCh. 1 - Prob. 4CTCh. 1 - Prob. 5CTCh. 1 - Prob. 1DCSCh. 1 - Prob. 2DCSCh. 1 - Prob. 3DCSCh. 1 - Prob. 4DCSCh. 1 - Prob. 5DCSCh. 1 - Prob. 1PPTCh. 1 - Prob. 2PPTCh. 1 - Prob. 3PPTCh. 1 - Prob. 1VCCh. 1 - Prob. 2VCCh. 1 - Prob. 3VC
Knowledge Booster
Similar questions
- There are consequences that a company will face when they do not file taxes or are dishonest. Find at least one case where a company did not file taxes or were dishonest. Summarize the case and discuss how the company’s indiscretions will impact business in the future.arrow_forwardIf you are the owner of one of the most competitive/profitable grocery chain companies here in the country and would want to compete against the best in the industry, whats the next thing that you will do to your company? Go public or remain private? You may consider the current economic climate, political, and other factors for your decision- making.arrow_forwardwhat is income before income taxes ?arrow_forward
- If you were one of the founders, how would you prioritize how you spent your time in the first weeks on the job after getting the venture capital funding?arrow_forwardWhat is the difference between standard of living and quality of life? What is risk, and how is it related to profit? What do the terms stakeholders, outsourcing, and insourcing mean? What are some of the advantages of working for others? What benefits do you lose by being an entrepreneur, and what do you gain? What are the five factors of production? Which ones seem to be the most important for creating wealth? What are four ways the government can foster entrepreneurship? What is the difference between effectiveness, efficiency, and productivity? What is empowerment? What are some of the major issues affecting the economy today? What major factor caused people to move from farming to manufacturing and from manufacturing to the service sector? What does the future look like for tomorrow’s college graduates? What is the difference between macroeconomics and microeconomics? What is better for an economy than teaching a man to fish? What does Adam Smith’s term invisible hand mean? How…arrow_forwardYou are the wage earner in a “typical family,” with $77,500 gross annual income. Use the easy method to determine how much life insurance you should carry.arrow_forward
- Explain how current economic indicators, such as inflation and unemployment, affect you personally. How do you think the Covid 19 Pandemic has affected businesses? How has the Covid 19 Pandemic changed inflation or unemployment factors – explain how. Explain how they may affect you as a manager with employees and a business to operate.arrow_forwardDescribe a social or environmental issue that you care about. Pitch an idea for a way that you think we could try and solve the issue you described. Is your idea an example of social entrepreneurship? Why or why not? If it is not, what type of a solution is it?arrow_forwardWhere would you draw the line between business “favors” and bribery, kickbacks, or "protection money”?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Management, Loose-Leaf VersionManagementISBN:9781305969308Author:Richard L. DaftPublisher:South-Western College PubFoundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage LearningFoundations of Business - Standalone book (MindTa...MarketingISBN:9781285193946Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
Management, Loose-Leaf Version
Management
ISBN:9781305969308
Author:Richard L. Daft
Publisher:South-Western College Pub
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Foundations of Business - Standalone book (MindTa...
Marketing
ISBN:9781285193946
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning