Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 2.3, Problem 2.3AQ
Summary Introduction
To determine: The factors that lead to slower growth in socialist countries.
Introduction:
Socialism is a type of economy where the major businesses and public utilities are operated by the government.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
4. (i) Briefly explain the reasons for market failure.
(ii) What does market failure affect to an economy and the society?
(iii) How does the government intervene to correct Market failure? Provide at least two examples from Sri Lanka.
"Monetizing environmental sustainability" means that O a company can produce environmentally friendly products and still grow and be profitable in the long-term. O a country should issue currency notes that promote good environmental practices. laws need to be passed forcing companies to make money by being more environmentally friendly. O banks should lend money only to companies that follow good environmental practices.
So, I changed one of my user's phone plans to allow for international calling, awhile back, but when I received the bill from Verizon, it turns out that some of the countries in Africa that was visited do not have reliable or managed cellular service. It made me wonder about not only cellular coverage but also access to the Internet.
1) "A country that wants to progress economically and provide opportunities for its citizens must ensure that Internet access is widely available." Do you agree with this statement? Why or why not?
2) Net neutrality has been described as the preservation of an open Internet and the ability to communicate freely online. How does this relate to the workplace?
Chapter 2 Solutions
Understanding Business
Ch. 2.1 - Prob. 2.1AQCh. 2.1 - Prob. 2.1BQCh. 2.1 - Prob. 2.1CQCh. 2.1 - Prob. 1TPCh. 2.1 - Prob. 2TPCh. 2.1 - Prob. 3TPCh. 2.2 - Prob. 2.2AQCh. 2.2 - Prob. 2.2BQCh. 2.2 - Prob. 1MEDCh. 2.2 - Prob. 4TP
Ch. 2.2 - Prob. 5TPCh. 2.2 - Prob. 6TPCh. 2.2 - Prob. 7TPCh. 2.3 - Prob. 2.3AQCh. 2.3 - Prob. 2.3BQCh. 2.4 - Prob. 8TPCh. 2.4 - Prob. 9TPCh. 2.4 - Prob. 10TPCh. 2.4 - Prob. 11TPCh. 2.5 - Prob. 2.5AQCh. 2.6 - Prob. 2.6AQCh. 2.6 - Prob. 12TPCh. 2.6 - Prob. 13TPCh. 2.6 - Prob. 14TPCh. 2.6 - Prob. 15TPCh. 2 - Prob. 1CECh. 2 - Prob. 2CECh. 2 - Prob. 3CECh. 2 - Prob. 4CECh. 2 - Prob. 1CTCh. 2 - Prob. 2CTCh. 2 - Prob. 3CTCh. 2 - Prob. 1DCSCh. 2 - Prob. 2DCSCh. 2 - Prob. 3DCSCh. 2 - Prob. 4DCSCh. 2 - Prob. 5DCSCh. 2 - Prob. 1PPTCh. 2 - Prob. 2PPTCh. 2 - Prob. 3PPTCh. 2 - Prob. 4PPTCh. 2 - Prob. 1VCCh. 2 - Prob. 2VCCh. 2 - Prob. 3VC
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, management and related others by exploring similar questions and additional content below.Similar questions
- Does the U.S. have a trade deficit or surplus? (Research this separately) What are the arguments for protectionism or free trade? How is this affecting (expected to affect) the economy (consumers, business dealings, prices, tariff income generated, etc.) Read Ezekiel 28:18, and Proverbs 31:18. How does trade played an important role in biblical times.arrow_forwardWhat other policies should the United States government pursue to secure access to crucial medical goods during shocks like Covid-19?arrow_forwardTrade & markets became mechanisms for human survival, since the 18th century, due to the shift from the traditional economic system to the division of labor/specialization, manifesting into the modern market systems, the world has experienced tremendous improvement in living standards, albeit unequally across regions. Discuss two advantages and disadvantages of the modern market economy, how to fix the disadvantages, and if a better system may evolve to replace the market economy in the 21st century.arrow_forward
- What are the factors that caused Singapore economy extremely vulnerable during the 1997 major economic crisis? discuss these factor caused this vulnerability.arrow_forwardExplain the moral dilemma of doing business in China. Do companies have a moral requirement to opt out of the market, despite its size, if doing business in China requires companies to compromise their ideals?arrow_forwardWhat is the primary reasons why China has increased its global lead in electric vehicle production from 40 percent of production in 2015 to 43 percent in 2016arrow_forward
- I need paragraph on free trade please. Is from business classarrow_forwardOnline banking offers customers almost every service traditionally available through a local branch including deposits, transfers, and online bill payments. Virtually every banking institution has some form of online banking, available both on desktop versions and through mobile apps. During the recession of Covid-19 how the banks have reformed the policies to meet the requirements of customers and how much online banking is beneficial for customers during such disasters.arrow_forwardTesla Inc Tesla Inc., formerly known as Tesla Motors Inc., designs, develops, manufactures, and sells electric vehicles and stationary energy storage products. It operates primarily in the United States, China, Norway and internationally. The company is headquartered in Palo Alto, California. Tesla’s mission is to accelerate the world’s transition to sustainable energy. Founded in 2003, Tesla has broken new barriers in developing high-performance automobiles that the world’s best and highest-selling pure electric vehicles with long-range and absolutely no tailpipe emissions. It is also the safest, highest-rated cars on the road in the world.With the launch of the Gigafactory and the acquisition of SolarCity, Tesla now offers a full suite of energy products that incorporates solar, storage, and grid services. Geographic ExpansionA majority of Tesla’s revenues are generated in the United States (up to 60% in 2016). The company’s domestic market has renewed efforts to expand…arrow_forward
- “Society is adjusting to a ‘new normal’. Amid efforts by government and the medical sector to mitigate the health impact of the COVID‐19 (Coronavirus) pandemic, many commercial enterprises are having to fundamentally alter how they do business, as the economic effects of the Coronavirus continue to manifest. It is therefore pertinent to have an understanding of thecurrent economic landscape in South Africa, and what might be done to minimise financial damage and reduce insolvency risks during this uncertain time.”In light of the above quote, discuss cost reduction and revenue increase as two of the four advantages of operations Management available to South African commercial enterprises.arrow_forwardEV Makers’ Next Headache: Scarce Battery Chemicals, Made in China Lithium used to make electric-vehicle batteries is getting dear; that is only leading edge of supply-chain problem By Jacky Wong Jan. 21, 2022 Last year was the year of electric vehicles—global sales are likely to have hit a record, in turn pushing up battery demand. Now too much of a good thing is causing problems: Many key battery materials, including but not limited to processed lithium itself, are in short supply and prices are rising sharply. Adding to the geopolitical risks for global auto makers is the supply chain concentrated in a country determined to make itself the EV capital of the world: China. Lithium is the most spectacular example: Prices of lithium carbonate have quintupled in China from a year earlier, according to Benchmark Mineral Intelligence. Other battery materials from nickel to cobalt have also been rising and could remain elevated as new supply will take time to come online. Sustained high…arrow_forwardFree Universal Health Care Except for the United States, the largest advanced economies in the world all provide a heavily subsidized universal health care system, that is, a publicly funded system that provides primary health services to all, usually at a nominal fee only and with no exclusions based on income or wealth. Although these systems are not perfect, their continued existence seems assured, regardless of the cultural or political framework of the various countries. A logical question is why the United States would be an outlier on this issue, and whether that might change in the future. Some answers, as noted in the text, lie in the United States’ historical reliance on a mostly private system, with approximately 83 percent of health care expenses provided by the private sector through insurers and employers (in contrast, this percentage in the United Kingdom is 17). A solution that has gained traction in recent years is conversion to a single-payer system. How might this…arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Understanding BusinessManagementISBN:9781259929434Author:William NickelsPublisher:McGraw-Hill EducationManagement (14th Edition)ManagementISBN:9780134527604Author:Stephen P. Robbins, Mary A. CoulterPublisher:PEARSONSpreadsheet Modeling & Decision Analysis: A Pract...ManagementISBN:9781305947412Author:Cliff RagsdalePublisher:Cengage Learning
- Management Information Systems: Managing The Digi...ManagementISBN:9780135191798Author:Kenneth C. Laudon, Jane P. LaudonPublisher:PEARSONBusiness Essentials (12th Edition) (What's New in...ManagementISBN:9780134728391Author:Ronald J. Ebert, Ricky W. GriffinPublisher:PEARSONFundamentals of Management (10th Edition)ManagementISBN:9780134237473Author:Stephen P. Robbins, Mary A. Coulter, David A. De CenzoPublisher:PEARSON
Understanding Business
Management
ISBN:9781259929434
Author:William Nickels
Publisher:McGraw-Hill Education
Management (14th Edition)
Management
ISBN:9780134527604
Author:Stephen P. Robbins, Mary A. Coulter
Publisher:PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract...
Management
ISBN:9781305947412
Author:Cliff Ragsdale
Publisher:Cengage Learning
Management Information Systems: Managing The Digi...
Management
ISBN:9780135191798
Author:Kenneth C. Laudon, Jane P. Laudon
Publisher:PEARSON
Business Essentials (12th Edition) (What's New in...
Management
ISBN:9780134728391
Author:Ronald J. Ebert, Ricky W. Griffin
Publisher:PEARSON
Fundamentals of Management (10th Edition)
Management
ISBN:9780134237473
Author:Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
Publisher:PEARSON