Answer:
$13,600
Explanation:
The solution of the total amount budgeted for product costs for July is provided below:-
Budgeted for product costs for July = Number of skillets × (Direct material + Direct labor + Cost of manufacturing overhead)
= 805 × ($10 + $3 + $4)
= 805 × $17
= $13,600
So, we have calculated the total amount budgeted for product costs for July by using the above formula.
which of the following is an example of an executive agreement?
The president changes a regulation on undocumented immigrant status without congressional approval.
The president signs legally binding nuclear arms terms with Iran without seeking congressional approval.
The president issues recommendations to the Department of Justice on what the meaning of a new criminal statue is.
The president negotiates an agreement with China and submits it to the Senate for ratification
The Correct example of an executive agreement is b) The president signs legally binding nuclear arms terms with Iran without seeking congressional approval.
What is Executive Agreement?An executive agreement is a pact between the leaders of two or more countries that has not been approved by the legislature in the same way that treaties are approved. To distinguish them from treaties, which are legally binding, executive agreements are seen as having political force.Executive agreements are less formal than treaties and do not require ratification by two-thirds of the U.S. Senate. They are agreements between the United States and a foreign government.After 1939, executive agreements were used a lot more frequently. Between 1940 and 1989, during World War II and the Cold War, presidents signed almost 800 treaties but negotiated more than 1,200 executive agreements, compared to the 800 treaties that the U.S. Senate had ratified before to 1940 and the 1,200 executive agreements that they had formed.To learn more about Executive agreement refer to:
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An auto manufacturer hired a marketing firm to conduct a series of focus groups to
gauge public reaction to their potential new product line. Which word BEST
describes this kind of research?
(1 point).
O causal
O primary
O exploratory
O secondary
0 of 15
An auto manufacturer hired a marketing firm to conduct a series of focus groups to gauge public reaction to their potential new product line. The word that BEST describes this kind of research is exploratory research. The Option C.
What does an exploratory research means?Exploratory research, as the name implies, is a method of market investigation that seeks to answer questions about a previously unknown subject through independent exploration. In contrast to more formal research projects, exploratory research frequently lacks the parameters of more formal inquiries and instead seeks broad information that can then be used in more specific case studies.
In general, exploratory research does not provide definitive answers, but rather clarifies the scope and nature of a problem and suggests potential solutions. When conducting this type of research, a marketer must remain adaptable and willing to change course as new information becomes available, rather than sticking with a single method throughout the process.
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Select the correct answer.
Approximately what portion of global employers tends to use social media websites to hire new employees?
ОА.
30 percent
OB. 40 percent
OC.
50 percent
OD
60 percent
ОЕ.
70 percent
Answer: Hello, There! your Answer is Below
B. 40 percent
Explanation:
40 percent employers use social media websites to hire employees.
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Juan and Carl have a small medical practice that operates as a partnership. Juan does 70% of the work and Carl does 30%. However, Carl invested 60% of the money required to start the business. If the company makes $100,000 in profit this year, how much will each partner receive?
a. Juan will receive $70,000; Carl will receive $30,000.
b. Juan will receive $50,000; Carl will receive $50,000.
c. Juan will receive $40,000; Carl will receive $60,000.
d. Juan will receive $60,000; Carl will receive $40,000.
e. Profits will be shared in the proportion specified in the partnership agreement.
Answer:
e. Profits will be shared in the proportion specified in the partnership agreement.
Explanation:
Partnership agreement is the governing document of an partnership. The agreement consist of how profit will be shared and has been agreed right before the partnership contract become become binding. Thus, the fact that Juan does 70% of the work and Carl does 30% of work does not specifies nor idicate profit sharing. Also, the fact that Carl invested 60% of the money required to start the business does not specify profit sharing as well. The profit sharing agreement is in the partnership agreement.
How can a company take advantage of viral diffusion in a rapidly growing market?
a. They can give opinion leaders free products to use.
b. They can identify and court opinion leaders in a particular market.
c. All of these are ways for companies to take advantage of viral diffusion in a rapidly growing market.
d. They can encourage experts in the field to use the product first.
e. They can create a partnership with opinion leaders to help further develop the technology.
Answer:
The answer is D
Explanation:
I think so
The answer is d. They can encourage experts in the field to use the product first is the advantage of viral diffusion in a rapidly growing market
Which marketing tactic qualifies as product proliferation in a developed market?
Product proliferation is a strategy used by businesses to increase the range of products they provide in a market or submarket in order to saturate the market and reduce the amount of unmet demand (Mainkar, Lubatkin, & Schulze, 2006).
Product proliferation, pricing games, and preserving surplus capacity are the key strategies used by businesses in established markets to thwart entrants.
a dominator strategy for market share. Market share dominance is not one of Porter's general competition strategies. The best-cost provider, low-cost provider, differentiation, and concentrated low-cost are the four main general categories of competitive strategy.
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ou invest $1,000 in stocks. Would a macroeconomist call this an investment? Why or why not? An economist would say no, because you are just buying an existing asset without creating any new productive capacity in the economy. yes, because you are purchasing something that may yield more value later. yes, because there is a concensus amongst Wall St. that this is considered an investment. no, because the minimum threshold for a stock purchase to be considered an investment is $10,000.
Answer:
An investment of $1,000 in stocks:
yes, because you are purchasing something that may yield more value later.
Explanation:
While Macroeconomics tries to explain aggregate phenomena such as economic growth, business cycles, unemployment, inflation, etc., this does not preclude this branch of economics from agreeing with a fact. An investment remains an asset which the investor purchases in order to generate more future income.
i am meeting my new team, which I will directly supervise for the first time. I introduce myself and jump right into the agenda items for the jobs each team member will be assigned. I am using ______.
Use the drop-down menus to complete statements about audio file formats
The most common file format for consumer storage and playback is
The
audio file was originally used on Apple computers.
The main audio format used in Microsoft Windows is
♡
Based on audio files available today, the following are true:
Most common file format - .MP3Originally used by Apple - . AIFFMain audio format for Windows - .WAVWhat are some audio formats?The most common file format for audio storage and playback is the .mp3 format which allows is to run on virtually all audio devices.
For audio files, Apple first developed the .aiff format but this has since been replaced. Windows on the other hand, developed the .wav format for audio files.
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Strong _______ skills influence hiring decisions and job performance, while at the same time promoting good relations in your personal life.
what are 2 different types of budgets and discuss how they complement each other?
There are two main types of budgets: operational budgets and financial budgets.
Operational budgets are used to plan and monitor the day-to-day operations of a business, and typically cover a period of one year. These budgets include items such as revenue projections, production costs, and operating expenses. Operational budgets are crucial for ensuring that a business stays on track and meets its operational goals. Financial budgets, on the other hand, are focused on the long-term financial health of a business. They include items such as capital expenditures, financing costs, and cash flow projections. Financial budgets are used to help businesses plan for the future and make strategic decisions about investments and growth. These two types of budgets complement each other by providing a comprehensive view of a business's operations and financial health. Operational budgets help to ensure that day-to-day activities are aligned with the overall goals of the business, while financial budgets provide a roadmap for achieving long-term success. By using both types of budgets, businesses can make informed decisions about resource allocation, identify potential risks, and maintain a strong financial position over the long term.
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An employee is on his way to help a customer when a second customer, Rachel, walks in and starts asking the employee about a product.
An employee is on his way to help a customer when a second customer, Rachel, walks in and starts asking the employee about a product, in this, he should tell another customer politely to inquire at the help desk.
What is Customer service?Customer service refers to a method that is adopted by businesses in order to help customers in making decisions about the product based on teh information is provided to them by the customer representative.
In this case, he should request assistance from a coworker who is available and apologize for the inconvenience, Pay attention to Rachel's query, and rely on a colleague to assist the other customer.
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1. Do you think the minimum wage should be increased in California, as is proposed? Why or why not? Remember, many firms must give everyone raises when minimum wage increases to keep all their workers happy. 2. In your opinion, what was the original purpose of the minimum wage? Was it meant to be a living wage?
In May 2019, the FBI arrested a group of mafia leaders for a series of scams that cost investors millions. The claim was that the mob bought large stakes in small companies and then bribed and coerced brokers to promote the stocks at inflated prices. This is known as _____.
The form of illegitimate business that is being practiced by this arrested group of mafia leaders is known as a Ponzi scheme.
What is a Ponzi scheme?
A Ponzi scheme can be defined as a form of fraudulent business in which the owners lure unsuspecting victims (investors) to invest certain amount of money with the promise to pay them a certain percentage as returns, especially by taking more money from new set of investors.
This ultimately implies that, a Ponzi scheme is fostered by the payment of quick returns to the earlies investors, so as to lure other investors. Also, it may involve paying bribe and coercing brokers to promote the their stocks at inflated prices.
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what are the two most common levels of education for Urban and Regional Planners? Select two options. master's degree associate degree some college, no degree bachelor’s degree
The two most common levels of education for Urban and Regional Planners are:
c. college degreee. bachelor’s degreeWhat is the role of Urban and Regional Planners?Basically, an urban & regional planning refers to the art and science of ordering land use development for the social, economic and political benefits of the population. Its involves a technical and political process that is focused on the development and design of land use and the built environment including air, water and the infrastructure passing into and out of urban areas such as transportation, communications, distribution networks, accessibility etc.
Most of the urban and regional planners develop a land use plans and programs that help create communities, accommodate population growth and revitalize physical facilities in towns, cities, counties, and metropolitan areas.
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How do you keep a good business without rising conflict and uproar when it comes to supply and demand?
May I please have an answer? give me some direct point details about how to run and grow a business. So I can make a good plan! Thank you in advance :).
To keep a good business without rising conflict and uproar when it comes to supply and demand, there are several key strategies that business owners can implement:
How to keep a good business without rising conflict and uproarStay aware of market trends and changes in consumer demand: By regularly monitoring industry trends and changes in consumer preferences, businesses can adjust their supply and demand accordingly to avoid overstocking or running out of inventory.
Maintain open communication with suppliers and customers: Building strong relationships with suppliers and customers can help to avoid conflict and ensure a smooth supply chain. Keep communication lines open and transparent, and be willing to negotiate and compromise when necessary.
Keep inventory levels optimized: Maintaining a good balance of inventory levels is essential to meet customer demand while avoiding overstocking. Regularly review sales data to determine the optimal levels of inventory to carry and adjust accordingly.
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The adjusted trial balance for Chiara Company as of December 31 follows.
Debit Credit
Cash $ 132,400
Accounts receivable 50,500
Interest receivable 20,800
Notes receivable (due in 90 days) 171,000
Office supplies 16,500
Automobiles 169,000
Accumulated depreciation—Automobiles $ 80,000
Equipment 140,000
Accumulated depreciation—Equipment 23,000
Land 79,000
Accounts payable 98,000
Interest payable 20,000
Salaries payable 22,000
Unearned fees 28,000
Long-term notes payable 144,000
Common stock 26,580
Retained earnings 239,220
Dividends 45,000
Fees earned 544,000
Interest earned 30,000
Depreciation expense—Automobiles 26,000
Depreciation expense—Equipment 20,000
Salaries expense 187,000
Wages expense 43,000
Interest expense 32,200
Office supplies expense 34,200
Advertising expense 63,000
Repairs expense—Automobiles 25,200
Totals $ 1,254,800 $ 1,254,800
Required:
Use the information in the adjusted trial balance to prepare
(a) the income statement for the year ended December 31;
(b) the statement of retained earnings for the year ended December 31 [Note: Retained Earnings at December 31 of the prior year was $257,220]; and
(c) the balance sheet as of December 31.
Answer and Explanation:
The preparations are presented below:
a. For income statement
Chiara Company
Income statement
For the year ended Dec 31
Revenues
Fees earned $544,000
Interest earned $30,000
Total revenues $574,000
Less: expenses
Depreciation expense - Automobiles $26,000
Depreciation expense- Equipment $20,000
Salaries expense $187,000
Wages expense $43,000
Interest expense $32,200
Office supplies expense $34,200
Advertising expense $63,000
Repairs expense - Automobiles $25,200
Total expenses ($430,600)
Net income $143,400
b. For a statement of retained earnings
Chiara Company
Statement of retained earnings
For the year ended Dec 31
Beginning balance of retained earnings $257,220
Add: Net income $143,400
Less: Dividend -$45,000
Ending retained earnings balance $355,620
c. For balance sheet
Chiara Company
Balance sheet
For the year ended Dec 31
Liabilities & equity Amount Assets Amount
Liabilities & equity Cash $132,400
Accounts payable $98,000 Accounts receivable $50,500
Interest payable $20,000 Interest receivable $20,800
Salaries payable $22,000 90 days notes receivable $171,000
Unearned fees $28,000 Office supplies $16,500
Long-term notes payable $144,000 Automobiles 169,000
Common stock $26,580 Less:
Retained earnings $355,620 Accumulated depreciation
Automobiles $ 80,000 $89,000
Total liabilities & equity $694,200 Equipment 140,000
Less:
Accumulated depreciation
Equipment 23,000 $117,000
Land $79,000
Total assets $694,200
What is the difference between nominal price and real price?
Answer:
The nominal price of a good is its value in terms of money, such as dollars, French francs, or yen. The relative or real price is its value in terms of some other good, service, or bundle of goods. The term “relative price” is used to make comparisons of different goods at the same moment of time.
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Correct me if I'm wrong
Explanation:
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Answer:
Definition: The nominal price of a good is its value in terms of money, such as dollars, French francs, or yen. The relative or real price is its value in terms of some other good, service, or bundle of goods. The term “relative price” is used to make comparisons of different goods at the same moment of time.
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Question 1:
A government imposes a per-unit tax on light bulbs in a competitive market. Afterward, the seller's after-tax price increases from the original equilibrium price of $12 to $14. The marginal cost of lightbulbs was $9 before the tax and $12 after the tax was implemented. The quantity supplied decreases from a before-tax quantity of twelve thousand bulbs per month to ten thousand bulbs per month after the tax. Based on this, which of the following is true?
A) Total consumer expenditures on light bulbs increase after the tax.
B) The amount of deadweight loss is $20,000 after the tax.
C) Total revenue earned by light bulb producers increases after the tax.
D) The total tax revenue collected by the government is $30,000 per month.
E) Consumers and producers are sharing an equal percentage of the tax burden.
Question 2:
The suppliers of Automobile A are struggling to increase production in response to price increases at the same rate as the suppliers of Automobile B. What can be determined about the suppliers of Automobile B?
A) They sell superior products.
B) They have a greater price elasticity of supply.
C) They are currently experiencing unit elasticity.
D) They have acquired a trade deal to boost production.
E) They have acquired an increase in technology or labor.
Answer:
ans 1: A. Total expenditure on light bulbs increases after the tax.
Explanation:
The government has imposed a tax on light bulb production and the new price after the tax is $14. The price before the tax was $12 and the marginal cost before tax was $9. There was a profit of $3 for the producers of the light bulb. The tax burden is shifted to the consumers of the bulb since the marginal price after tax is $12. The total expense for the production of bulbs has increased due to tax.
ans 2: B. They have a greater price elasticity of supply
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Answer 1: After the tax, the overall cost of light bulbs increases. As a result, choice (A) is the appropriate one.
Answer 2: They have a higher supply price elasticity. As a result, choice (B) is the optimal one.
What is the price elasticity of supply?A good or service's responsiveness to supply after a change in its market price is measured by its price elasticity of supply. A good's supply will grow as its price rises, according to fundamental economic theory. A good's supply will fall when its price rises, on the other hand.
The ratio of the percentage change in quantity supplied to the percentage shift in price is used to depict the elasticity in numerical form.
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In lean manufacturing, incoming raw materials are received a.directly by the product cells and held for later production. b.directly by the product cells and entered immediately into production. c.by the warehouse and held for later production. d.by the warehouse and entered immediately into the inventory system.
Answer:
b. directly by the product cells and entered immediately into production.
Explanation:
In lean manufacturing, incoming raw materials are received directly by the product cells and entered immediately into production. In this kind of manufacturing system, the materials are directly received by manufacturing cells and immediately entered into production, this means the raw materials re directly received by the products cells. Hence, it is the correct feature of lean manufacturing system.
What will produce more accurate results when giving a survey?
A. Using the word "frequently" in a question
B. Creating face-to-face interviews
C. Adding boxes to check for answers
D. Creating an open questions
Answer:
Option B; Creating face-to-face interviews
Explanation:
Research has shown that face-to-face interviews tend to produce more accurate results when giving a survey. So the correct answer is option B.
Vincent corporation has 100,00 shares of 100 par common stock outstanding. on june30 ,Vincent corporation declared a 5% stock dividend to be issued on July 30 to stockholders of record july15. the market price of the stock was $132 a share on June 30. journalize the entries required on June 30 and july30
The common stock that is seen here would be $500000
What is the common stock outstanding?This is the term that would simply be used to refer to all of the shares that the shareholders of a company as well as the people that are the insiders in the company would own.
How to solve for the journal entriesThe retained earnings is given as
$132 * 0.05
= $6.6
= 6.6 x 100000
= 660000
The debit is $660000
The credit is 100000 x 5 = 500000
paid in capital in excess of par = 660000 - 500000
= $160000
The stock dividend distributable = $500000
common stock is given as $500000
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Select the best answer for the question.
4. One component of the agreeableness trait is altruism. Altruism means
O A. the need for personal success and to see others fail.
O B. the desire to help others, or the concern for the welfare of others.
O C. the ability to take and give criticism.
O D. poor self-confidence.
One component of the agreeableness trait is altruism. Altruism means the desire to help others, or the concern for the welfare of others. The correct option is (B).
What do you mean by an agreeableness?Trust, frankness, benevolence, compliance, humility, and tender-mindedness are the lower-level characteristics or aspects that makeup agreeableness.
Altruism is characterized by selflessness and care for the well-being of others. Although someone can overdo charity to the detriment of their own personal well-being, this is a commendable attribute.
Therefore, one component of the agreeableness trait is altruism. Altruism means the desire to help others, or the concern for the welfare of others.
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Suppose a country`s workers can produce 4 watches per hour or 12 rings per hour. If there is no trade,
Suppose a country`s workers can produce 4 watches per hour or 12 rings per hour. If there is no trade,: The opportunity cost of 1 watch is 3 rings.
What is opportunity cost?Opportunity cost can be defined as the way in which a person tend to forgone others alternative as a result of choosing an alternatives .
Example of opportunity cost is when a student choose to forgone the choice of watching a movies because the student want to read for his/her examination.
Now let find the opportunity cost;
Opportunity cost = 12 rings / 4 watches per hour
Opportunity cost = 3 rings
Therefore the opportunity cost of 1 watch is 3 rings.
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9. Why are cultural differences an important factor when adapting products for new overseas markets?
Answer:
The cultural differences are an important factor when adapting products for new overseas markets because it expands the variety of customers.
Explanation:
When you have a product that is in need of selling, it would need to be an item that somebody would actually be interested in. Different Cultures could introduce you to a different world of items and help you take a different approach.
Rush Industries, Inc. builds parts for large automated heavy equipment. The Vice President for Marketing has determined that sales are dwindling for the firm's products because of aggressive pricing by competitors. Rush Industries sells the product for $775 whereas the competition's comparable part is selling in the $650 range. The VP for Marketing has determined that a price drop to $625 is necessary to regain market share and annual sales of 1,200 units. Data based on sales of 1,200 units is as follows:
Budgeted Amount Actual Amount Cost
Direct materials (sheet metal) 8,000 sq.ft. 10,000 sq.ft. $9.66 per sq.ft.
Direct labor 4,800 hrs. 5,000 hrs. $33.60 per hour
Machine setups 2,600 hrs. 2,800 hrs. $42.00 per hour
Mechanical assembly 3,200 hrs. 3,600 hrs. $34.00 per hour
Required:
1. The current cost per unit is ___________.
Answer:
The current cost per unit is $ 420.50
Explanation:
The current cost per unit is synonymous with the actual cost per unit which is determined by summing up all costs incurred in actual sense and dividing by the sales volume of 1,200 units
direct materials =10,000*$9.66=$ 96,600
direct labor=5,000*$33.60 =$ 168,000
machine set-ups=2,800*$42 =$ 117,600
mechanical assembly=3,600*$34=$122,400
total actual costs =$ 504,600
cost per unit=total costs/sales volume=$ 504,600/1200=$ 420.50
Using budgeted figures would only give us budgeted cost per unit
Returns Outwards is the same as purchases returns.
2 points
True
False
Which of the followin
True because they are same
In general, a court has venue:
1 where the defendant resides.
2 where the highest court is located.
3 both where the cause of action took place and where the defendant resides.
4 where the cause of action took place.
In general, a court has a venue primarily in two scenarios: 1) where the cause of action took place, and 2) where the defendant resides. These scenarios ensure that the court selected is fair and convenient for both parties involved in the legal dispute.
The first scenario, where the cause of action took place, means that the court is located in the geographical area where the events giving rise to the legal dispute occurred. This ensures that the court has a connection to the case and that local laws and customs can be appropriately applied.
The second scenario, where the defendant resides, ensures that the defendant has access to a local court that they are familiar with, making it easier for them to participate in the legal process. This also helps prevent plaintiffs from "forum shopping," or selecting a court in a different location that may be more favorable to their case.
It is important to note that the highest court's location is generally not a factor in determining the venue, as the highest courts usually handle appeals and specific types of cases, rather than initial trials.
In summary, a court typically has a venue where the cause of action took place and where the defendant resides, to provide fairness and convenience for both parties involved in the legal dispute.
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Elizabeth Pie Company has been in business for 50 years and has developed a large group of loyal restaurant customers. Giant Bakery Inc. has made an offer to buy Elizabeth Pie Company for $5,100,000. The book value of Elizabeth Pie’s recorded assets and liabilities on the date of the offer is $4,350,000 with a fair value of $4,600,000. Elizabeth Pie also (1) holds a patent for a pie crust fluting machine that the company invented (the patent with a fair value of $305,000 was never recorded by Elizabeth Pie because it was developed internally) and (2) estimates goodwill from loyal customers to be $306,000 (also never recorded by the company).
If Elizabeth Pie Company management accepts Giant Bakery's offer of $5,100,000. Compute the amount of goodwill that Giant Bakery should record on the date of the purchase.
Answer:
goodwill = $195,000
Explanation:
goodwill = offered purchase price - fair value of assets - fair value of patents = $5,100,000 - $4,600,000 - $305,000 = $195,000
Customer loyalty is part of a company's goodwill, so it will not be included in this calculation. Goodwill is the difference between the acquisition price of a company and the fair value of its assets.
The goodwill value is the premium amount paid in the purchase of an asset beyond the fair market value of the asset. Hence, the goodwill paid by Giant Bakery Inc. on the date of purchase is $195,000
Goodwill = Amount paid - (fair value - patent value) Offer value = $5,100,000Fair value = $4,600,000Patent value = $305,000Therefore, Amount of Goodwill can be calculated thus :
$(5100000 - (4600000 + 305000)) = $195,000Hence, the amount of goodwill that Giant Bakery should record on the date ls $195,000
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Discussion 3 - Fiat Money vs Bitcoin
Must post first.
Context Information: Money is anything that is accepted in exchange for goods and services or for the payment of debts. Our current form of money, the dollar, is considered Fiat Money, because it does not have any intrinsic value but is accepted as money because the US government has made it legal tender. The Fiat Monetary system is regulated by the Federal Reserve (The Fed) which is the United States Central Bank. The Fed regulates financial institutions such as banks, and issues the currency. In other words, the Fed controls the amount of money in circulation. It can increase it, or decrease it. This feature makes the Fiat Monetary system a centralized system. In contrast, Bitcoin is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash for the Internet. Nobody owns the Bitcoin network much like no one owns the technology behind email. Bitcoin is controlled by all Bitcoin users around the world.
Instructions and Steps:
1. Review the Ongoing Discussion Topic General Instructions > Select this link to Open
2. Access this introductory video on blockchain and cryptocurrencies.
TEDInstitute. (2017, September 22). Blockchain and the Middleman | TED Institute. [Video].
3. View the following TED Talk (video presentations). As you watch the video, take notes of any relevant information.
TEDx. (2020, January 10). What is Money? And Could Bitcoin Be the Best One? | Jad Mubaslat. [Video].
4. In 500 words or more produce an original post that answers the following questions:
According to Jad Mubaslat what are the benefits of a decentralized currency like Bitcoin?
If you had to choose one, which system (centralized fiat money or decentralized Bitcoin) would prefer to have as a form of currency? Explain your rational with examples.
The essay based on Jad Mubaslat that are the benefits of a decentralized currency like Bitcoin is given below
The benefits of a decentralized currency like BitcoinAccording to Jad Mubaslat, the benefits of a decentralized currency like Bitcoin are numerous. One of the main benefits is that it eliminates the need for intermediaries such as banks, which reduces the cost and time of transactions.
Furthermore, Bitcoin is transparent and has a fixed supply, which makes it less susceptible to manipulation or inflation. The transparency of the system allows for greater accountability and reduces the likelihood of fraud. The fixed supply also helps to prevent hyperinflation, which can occur when governments print excessive amounts of money, thereby reducing its value.
In terms of choosing between the two systems, I would prefer a decentralized system like Bitcoin. The benefits of a decentralized system far outweigh those of a centralized system. Centralized systems like the Fiat Monetary system, which is regulated by the Federal Reserve, can be manipulated by the government and the central authority.
In addition, the centralized nature of the Fiat Monetary system makes it easier for governments to manipulate the economy. For example, the Federal Reserve can increase or decrease the money supply to control inflation, which can have unintended consequences for the economy and the average citizen.
In conclusion, while there are benefits to both centralized and decentralized systems, I believe that a decentralized system like Bitcoin offers greater security, transparency, and control for users. With its numerous benefits, it is clear that Bitcoin is an innovative and promising solution for a modern currency system.
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The study of economics is nothing but the study of a tree and a forest. Discourse with respect to branches of economics
The study of economics involves the examination of individual components represented by branches and the analysis of the broader system represented by the forest.
How does the study of economics relate to a tree and a forest?Just as a tree consists of various branches that connect and support each other, the study of economics comprises different branches that explore specific aspects of the economy. These branches including microeconomics, macroeconomics and international economics focus on understanding and analyzing elements of economic behavior and systems.
The interplay between the various branches of economics contributes to comprehensive understanding of how individual economic decisions and activities collectively shape the broader economic system. By studying both the branches and the forest, economists can gain insights into the intricate relationships.
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