Ways in which change unions should assist workers in addressing noncompliance with operating conditions are the standard sports of alternate unions consist of supplying assistance and services to their contributors, collectively bargaining for better pay and conditions for all people, and running to enhance the excellent of public offerings, political campaigning, and commercial movement.
The definition of a worker is someone or animal that performs a particular or essential project or who completes duties in a certain way. someone who works in a store is an instance a retail employee. someone who works diligently on his homework for hours a day is an instance of a tough employee.
A person is normally classed as a 'worker' if: they have a contract or other association to do work or offerings personally for praise (a contract may be written or unwritten) their reward is for money or an advantage in type, for example the promise of a settlement or future paintings.
Workers are the people employed by using a selected organization or company. Manpower is all the employees available to paint for a business enterprise or USA. A colleague or co-employee is a person you figure with, mainly in the workplace.
Learn more about Workers here:brainly.com/question/12831236
#SPJ9
______________ can arise from the estimation process or the stability of the project team. assumptions internal risks cost overruns external risks.
Internet risk can arise from the estimation process or the stability of the project team. assumptions internal risks cost overruns external risks.
What is Internet risk?Online risk is the exposure of an organization's internal resources as a result of using the Internet to do business.
Online risk exists for all businesses that conduct a portion of their operations online. Personal information, project data, and data produced by systems or procedures used by the company to conduct its business all fall under the category of vulnerable data.
Using techniques and resources from a risk management strategy, you can effectively manage online risk, prevent it from happening in the first place, and take action if it does. Aware of online risk, able to foresee how a data loss might affect their business operations, and able to create contingency plans are all crucial skills for IT professionals.
To learn more about Internet risk from the given link:
https://brainly.com/question/19589897
#SPJ4
on her tenth birthday linda jones’s parents decide to deposit $4,000 in a savings account for their daughter. they intend to put an additional $4,000 in the account each year on her 11th, 12th, ..., 17th birthdays. assume that the bank pays linda’s parents 8% on positive account balances but charges them 10% on negative balances.
$6,227.51 is the correct answer.
Here are some frequently asked questions and their short responses.
Will the $4,000 saved each year be enough to pay for the anticipated college expenses?
No, as there is a maximum withdrawal amount of $12,846.23 each year (for 4 years) at an interest rate of 8%. Her parents will be short $7,153.77 every year. Is the 529 plan for Linda underfunded?
Yes, when she turns 18, she will have $42,548 in her account, but this won't be enough to cover her college expenses.
What amount should Lynda save year in her 529 plan to pay all of her tuition and fees?
$6,227.51
What will Lynda's net present value of college costs be when she turns 18?
If Lynda's parents wish to cover her college expenses, they need to have $66,242 in her 529 funds.
Lynda's 529 accounts will be filled with the following sum when she reaches 18:
Future value is equal to the yearly payment multiplied by the annuity factor (8 periods, 8%, FV annuity factor).
= $4,000 times 10.637
= $42,548 This sum will be withdrawn by her parents in 4 installments:
Maximum withdrawal per year: $42,548 / 3.3121
= $12,846.23
Annual Withdrawal x PV Annuity Factor (8%, 4 Periods) = Present Value
The necessary balance is 20,000 multiplied by 3.3121, or $66,242.
$6,227.51 per year ($66,242 / 10.637)
To know more about Present Value refer to
brainly.com/question/17322936
#SPJ4
When a sailor needs prodding to attain his qualifications or to finish a job, he should have a low performance level in what performance evaluation block?
He must have a low-performance level in Personal Job Accomplishment.
How to state Personal Accomplishments in interviews?
You must demonstrate your qualifications, abilities, and work history during an interview. It's customary to be asked about your accomplishments during an interview, and it's a great way to stand out from the competition. Your unique accomplishments show hiring managers what you value and give your strengths a chance to stand out in unusual ways. Because they offer specific and frequently quantifiable information about your abilities, personal achievements are a potent source of information to discuss. Let's go over what counts as a personal achievement and look at some concrete examples arranged by the industry to help you tell an interviewer everything they need to know about your credentials.
Thus it is important to state your personal accomplishments in interviews.
For more information on Personal Accomplishments, refer to the given link:
https://brainly.com/question/19601828
#SPJ4
How business can apply Delphi techniques to solve business problems?
The Delphi technique is the technique of collecting a panel of professionals and attractive in numerous rounds of questions about a way to ensure enterprise choices or solve an organizational hassle. every answer the professionals provide is nameless. After every spherical, the facilitator reviews and types all the answers.
The Delphi technique is a method used to arrive at a collection opinion or decision by surveying a panel of specialists. experts respond to several rounds of questionnaires, and the responses are aggregated and shared with the organization after each spherical.
The Delphi technique is primarily used by researchers while the available know-how is incomplete or difficult to uncertainty and other strategies that provide higher degrees of evidence can not be used. The goal is to collect professional-based totally judgments and frequently apply them to perceive consensus.
Learn more about Delphi techniques here:-
#SPJ9
Divya purchased a glass baking dish manufactured by anchor hocking glass. Anchor hocking manufactures its glassware in ohio and distributes its products nationally. She purchased the dish at thrifty drug store in mesa, arizona. When divya removed the baking dish from her oven while making a casserole, the dish exploded and divya was injured. Divya's attorney wants to bring a product liability lawsuit against anchor hocking in arizona. Anchor hocking does not believe it can be forced to defend a lawsuit in arizona since it has no offices there. The arizona courts will be permitted to take in personam jurisdiction over anchor hocking glass for all of the following reasons except:______.
a. anchor hocking glass distributes its products nationally. b. the evidence and plaintiff are in arizona. c. it is fair to require anchor hocking glass to defend a suit in arizona since its products are there.
The correct answer is (c) it is fair to require anchor hocking glass to defend a suit in arizona since its products are there.
What is jurisdiction?A legal authority's boundaries are referred to as its jurisdiction. It can be used to describe geographical and political areas as well as the categories of legal issues that fall under the purview of a particular legal authority. Courts, political or administrative offices, and in many cases, law enforcement agencies all fall under the category of formally sanctioned legal bodies. A legal body that is in charge of a particular area of law has the power to carry out justice there.
In the legal system, subject matter, territorial, and in personam jurisdiction are the three main forms. If a court lacks the required authority.
To know more about jurisdiction visit:
https://brainly.com/question/14761200
#SPJ4
When the market price of a good increases, the amount that sellers are willing to offer for sale increases. True or false?.
The market price of a good increases, the amount that sellers are willing to offer for sale increases is True
The law of supply is the microeconomic law that states that, all other factors being equal, as the price of a good or service increases, the quantity of goods or services that suppliers offer will increase, and vice versa.
What transpires when market prices rise?The quantity demanded decreases as the price rises (but demand itself stays the same). Demand rises in proportion to price decline. The Law of Demand is this. An inverse relationship is shown on a graph as a left to right, downward sloping line.
Why are vendors ready to accept extra money for their goods?Availability Law
The supply is provided in greater quantity the higher the price. If all else is equal, lower prices indicate a reduced supply. If expenses aren't rising too quickly, higher prices encourage providers to supply more of the good or commodity.
When does the cost of a quality Quizlet go up?The law of supply states that if the cost of a commodity or service rises, so too will the quantity offered. When two goods are complementary, a rise in price for one will result in a fall in demand for the other.
When the price of one good rises while the demand for another good declines, the two goods are said to be complements.Demand will decline for a subpar good as income rises. The two goods are referred to as substitutes when the price of one product drops and the demand for another good decreases. desire for a second good; these two products are referred to as complements.
To Know more about sloping line
https://brainly.com/question/14511992
#SPJ4
__________ represents expenses in money, labor, material, or sacrifices in acquiring or producing something.
Cost Approach to Value depicts the financial, labor, material, or personal sacrifices made in order to obtain or produce something.
What is Cost Approach to Value?Any enhanced property can be valued using the cost technique. It is the most trustworthy method for appraising special properties. The projected land value, along with the depreciated cost of the building and other renovations, are added together using the cost approach to offer a value indication.
The fundamental equation for valuing a property using the cost technique is Property Value = Land Value Plus (although the specifics are more convoluted) (Cost New – Accumulated Depreciation).
The cost technique has the advantage of assisting in determining market status.
To learn more about Cost Approach to Value from the given link:
brainly.com/question/17237430
#SPJ4
Most large companies and thousands of smaller ones have created, printed, and distributed ______________________.
Most large companies and thousands of smaller ones have created, printed, and distributed "codes of ethics."
What is codes of ethics?A code of ethics is a set of professional conduct conduct business in an honest and ethical manner.
Some key features regarding the codes of ethics are-
A code of ethics document could outline the business or organization's mission and values, how professionals are expected to approach problems, ethical principles predicated on the organization's core values, as well as the standards that the professional is held.A code of ethics, also known as a "ethical code," may include topics like business ethics, professional practice codes, and employee codes of conduct.A compliance-based code of ethics, a valuation code of ethics, or a code of ethics among professionals are the three main types of codes of ethics.To know more about codes of ethics, here
https://brainly.com/question/24606527
#SPJ4
What are the advantages of financing with long-term debt? (select all that apply.)
There are lots of advantages of financing with long-term debt. Stability, Flexibility, Low costs for monitoring and maintenance, and maximum productivity are few among them.
What are these long-term debt advantages?StabilityCompared to a short-term loan, long-term financing offers firms and people a more reliable debt management tool. Long-term loans are outlined in formal contracts, and the installment payments are either at a fixed rate or at a variable rate determined by the market, in contrast to certain short-term loans, such as credit from a supplier, which may be recalled without notice due to the lack of a formal agreement. When setting up their budgets, borrowers can feel more secure using long-term finance.
FlexibilityBorrowers have access to a wide range of long-term debt financing alternatives, which can be tailored to their needs. These possibilities include mortgages, leases, reverse mortgages, and loan refinancing. This enables greater spending flexibility and management.
Low costs for monitoring and maintenanceLong-term funding is regular and structured, in contrast to short-term loans, like credit from a supplier, which alters over time and requires ongoing monitoring. Long-term debt instruments require detailed information from you to the lenders, but once secured, they need little upkeep. As a result, fewer hours are needed to repay the debt.
Associated with Business ProductivityLong-term debt financing is utilized for capital investments as opposed to short-term loans, which are used as an immediate source of cash to solve immediate liquidity issues. A corporation can gain tangible benefits from capital assets including real estate, equipment, vehicles, furnishings, and leases by either raising productivity or boosting operating capacity.
Therefore, long-term debt instruments have a no. of advantages.
For more information on debts, refer to the given link:
https://brainly.com/question/13637203
#SPJ4
How do financial institutions evaluate the creditworthiness of potential borrowers?
Financial institutions evaluate the creditworthiness of potential borrowers by checking five C's of credit.
Five C's of credit is character, capacity, capital, collateral, conditions.
Character involves image of the person in the market which means credit history , how one should manage its debt in the past. whether previous debts were timely paid or not.
Capacity involves the capacity of the person to pay its debt. whether person is able to pay its debt timely with sufficient funds. It should be checked by checking creditworthiness of people, debt to equity ratio and other financial measures.
Capital refers as savings, investment or assets of the potential buyer. by this financial position of the borrower is known.
Collateral refers to as security which is put to take loan, whether its vale is more than loan value or not.
Conditions are the terms on which agreement is done regarding the loan.
To know more about five c's of credit:
https://brainly.com/question/24093906
#SPJ4
John is responsible for security of his company's new e-commerce server. he wants to ensure that online transactions are secure. what technology should he use?
John is responsible for security of his company's new e-commerce server. he wants to ensure that online transactions are secure. He should use transport layer security.
A widely used security technology called Transport Layer Security, or TLS, enables privacy and data security for communications over the Internet. Encrypting communication between web applications and servers, such as when web browsers load a website, is one of the main applications of Transport Layer Security.
The Transport Layer Security protocol achieves its goals primarily through the use of encryption, authentication, and integrity.
Data transfer is protected from third parties by encryption.
Authentication is the process of confirming the identity of the persons sharing information.
Integrity: demonstrates that the data hasn't been altered or falsified.
To learn more about Transport Layer Security click here:
https://brainly.com/question/15021716
#SPJ4
Lorena considers coffee and tea to be substitutes. therefore, the cross elasticity, also known as cross price elasticity, of demand between coffee and tea for lorena must be:______.
Lorena considers coffee and tea to be substitutes. therefore, the cross elasticity, also known as cross price elasticity, of demand between coffee and tea for Lorena must be positive.
The cross elasticity of demand for alternative goods is always positive since the demand for one good rises when the price of the substitute good rises. For example, if coffee prices grow, users will switch to tea, a substitute beverage, which is more affordable and substitutable. This is also reflected in the cross elasticity of the demand formula. The denominator (the price of a coffee) and numerator (the percentage change in the demand for tea) both exhibit positive escalations.
Since Lorena finds coffee and tea to be suitable substitutes, therefore, for Lorena, the cross elasticity of demand between coffee and tea, commonly known as the cross-price elasticity, must be positive.
Read more about Cross elasticity of demand:
https://brainly.com/question/14305821
#SPJ4
Lorena considers coffee and tea to be substitutes. Therefore, the cross-price elasticity of demand between coffee and tea for Lorena must be
a. positive
b. negative
c. positive and higher than 1
d. positive and less than 1
Activity-based costing is most suited to manufacturing processes that are labor intensive. this statement is?
Activity-based costing is most suited to manufacturing processes that are labor-intensive. This statement is false.
What is the meaning of activity-based costing?The ABC method, also known as activity-based costing, divides direct and indirect costs, such as salaries and utilities, among goods and services. The ABC system of cost accounting is built on the concept of activities, which are characterized as any event, undertaking, or task with a particular goal.
The purpose of activity-based costing is to allocate certain resources to objects. Assigning indirect costs to things that are difficult to identify and assign using activity-based costing is very beneficial. The more accurate cost of product overhead is the main benefit.
To know more about activity-based costing, visit:
https://brainly.com/question/15862944
#SPJ4
Taxpayers have a choice of deducting the standard deduction or their itemized deductions. therefore, blank______ agi deductions are considered to be beneficial to more taxpayers because:
Itemized deductions are thought to benefit more taxpayers because they can be claimed if the total is higher than the standard deduction.
You can deduct what you paid in real estate taxes, personal property taxes, state and local income or sales taxes, mortgage interest, and disaster losses when you itemize your deductions. You can also count charitable contributions and a portion of the money you spent for health and dental care.
If you itemize your taxes, do you get a bigger refund?
The standard deduction may be exceeded by itemized deductions. The more you may deduct, the less tax you'll owe, which is why some people itemize their deductions because the sum of their itemized deductions exceeds the basic deduction. There are numerous deductions that could be made.
To know more about itemized deductions
https://brainly.com/question/3598381
#SPJ4
When applying the ______ stage, the entrepreneur may come up new applications or innovative twists.
When applying the Enhance stage, the entrepreneur may come up new applications or innovative twists.
What is entrepreneur?
Entrepreneurs are those who launch new businesses, bearing the bulk of the risks and getting the majority of the rewards. Starting a business is a practice of entrepreneurship. The entrepreneur is generally seen as an inventor who develops novel ideas for goods, services, companies, and operating procedures.
Therefore,
When applying the Enhance stage, the entrepreneur may come up new applications or innovative twists.
To learn more about entrepreneur from the given link:
https://brainly.com/question/353543
#SPJ4
The sub-area of finance that deals with a firm's decisions in acquiring and using cash from investors and retained earnings is called:__________
Answer:
Financial Management
Explanation:
Graff, incorporated, has sales of $49,800, costs of $23,700, depreciation expense of $2,300, and interest expense of $1,800. if the tax rate is 22 percent, what is the operating cash flow, or ocf?
The operating cash flow of Graff, incorporated is $19,460
What is operating cash flow?
The operating cash flow is the net income plus the depreciation expense, whereby the depreciation expense is added back because it is an outright cash outflow.
In this case, we need to first of all determine the net income considering the sales, costs, interest expense and tax
net income=(sales-costs-depreciation-interest)*(1-tax rate)
net income=($49,800-$23,700-$2,300-$1,800)*(1-22%)
net income=$17,160
OCF=$17,160+$2,300
OCF=$19,460
Find out more about OCF on:https://brainly.com/question/16941057
#SPJ1
America purchases over fifty percent of its crude oil and petroleum products from other countries. this is an example of?
This is an example of Importing.
What is meant by Import?An export from the sending country is an import into the receiving nation. The two financial operations that best describe international trade are import and export. Import quotas and orders from the customs authority set limits on how much merchandise can be imported and exported in international trade.
Exporting is the process of selling goods and services that are produced or sourced domestically in other nations. Purchasing products and services abroad and bringing them back home is referred to as importation.
Importing things entails bringing anything into the country from another, where it must first clear customs. Authorities in charge of customs control import trade. They manage the movement of products and are in charge of tax and duty collection.
Even though transportation costs are higher, importing vegetables and other items from nations that can produce them more effectively can be better for the environment than "shopping local." In other words, free trade must be advantageous to both parties or it would not take place at all. This implies that imports are GREAT and that they are also.
Hence, This is an example of Importing.
To learn more about Importing refer to:
https://brainly.com/question/24473707
#SPJ4
Graffiti advertising, incorporated, reported the following financial statements for the last two years
Out-of-home advertising campaigns that are hand-painted on substantial facades or billboards are considered to as graffiti marketing or commercial graffiti.
City walls are transformed into canvases for modern art in this type of mural advertising, which is inspired by or connected to a company's campaign. Graffiti seeks to convey a significant message or to be recognized without being noticed.
Like other forms of art, graffiti's ultimate goal is to express one's self or convey a story. Graffiti gives artists a chance to express oneself, even if it isn't in a way that is generally accepted. Advertising murals are elaborate, striking paintings that are physically painted on city walls and other structures.
To know more about Graffiti advertising ,visit the link:
https://brainly.com/question/5559928
#SPJ4
Which level of structural organization is considered to be the highest (most complex) level?
Organism is level of structural organization is considered to be the highest (most complex) level.
What is organismal level?The Organismal level can be described as the most complex level of organization which can be explained as the organismal level, an in this level all the eleven organ systems function in the human organism.
It can be considered as a complex level with full developed structure in the whole living person, hence Organism is level of structural organization is considered to be the highest (most complex) level.
Find out more on Organism at https://brainly.com/question/8695285
#SPJ1
Name THREE benefits of being a for-profit business.
tax exemption
profit sharing (profit maximization)
swift expansion
innovation
The THREE benefits of being a for-profit business are:
profit sharing (profit maximization)swift expansioninnovationThe establishment of a for-profit business has some clear advantages: self-employment and financial rewards proportional to success.
What are the disadvantages of a for-profit business?The disadvantages of a for-profit business are Limited access to receive grants, and No tax deduction to donors. One big drawback of for-profit companies is that they are not generally eligible to receive foundation and government grants (with some exceptions)
Therefore, the correct answer is as given above
learn more about for-profit business: https://brainly.com/question/24553900
#SPJ1
Investment banking firms provide:________
a. auditing services.
b. overdraft facility.
c. insurance.
d. underwriting services.
Investment banking firms provide underwriting services (option d).
What are investment banks?Investment banks are financial institution that provides services to businesses, individuals and the government. The services they provide include:
raise capital for new companies by underwriting their initial public offersfinancial consultancyoversees mergersthey match investors with sellers. This increase the liquidity of the financial markets.Examples of investment banks include Bank of America, Credit Suisse, and Deutsche Bank.
To learn more about investment banks, please check: https://brainly.com/question/4062605
#SPJ1
He u.s. census bureau publishes reports that contain detailed information on american households, and marketers use this data to ______.
He US census bureau publishes reports that contain detailed information on American households, and marketers use this data to option c. identify characteristics and trends of ultimate consumers.
What is the Bureau of Census?The Census Bureau is known to be a body that is said to be the federal government most largest statistical agency.
It is known to be one that is dedicated to given current facts as well as figures about America's people, places, as well as the economy.
Hence, He US census bureau publishes reports that contain detailed information on American households, and marketers use this data to option c. identify characteristics and trends of ultimate consumers.
Learn more about census bureau from
https://brainly.com/question/25846785
#SPJ1
The U.S. Census Bureau publishes reports that contain detailed information on American households, and marketers use this data to
a. identify factors that improve customer satisfaction.
b. determine awareness of their products.
c. identify characteristics and trends of ultimate consumers.
d. understand observational information on consumers in their natural environment.
Ironwood company had assets of $248,000 and liabilities of $160,000. during 2022, assets increased $28,000 and liabilities increased $7,200. what was stockholders' equity at december 31, 2022?
$340,000. stockholders' equity on December 31, 2022
$280,000 + ($375,000 - $285,000) - $30,000 = $340,000
Total Assets = Penalties + Owner's Equity
How to Calculate Current Liabilities.The equation must counteract because everything the firm owns must be purchased from debt (liabilities) and assets (Owner or stockholders equity). The owner's equity is computed by adding up all of the business assets and removing all of its liabilities.
To calculate current liabilities, you ought to add together all the money you owe lenders within the next year (within 12 months or less). Current liabilities contain current payments on long-term loans (like mortgages) and client deposits.
To learn more about Current Liabilities visit the link
https://brainly.com/question/13076734
#SPJ4
After reaching the break-even point, a company's net operating income will increase by the?
The answer is Contribution Margin.
What is break-even point?
A transaction or investment's breakeven point (break-even price) is established by comparing the market price of an asset to its initial cost; the breakeven point is reached when the two prices are equal. In business accounting, the breakeven point is calculated by dividing the entire fixed costs of production by the revenue per unit less the variable costs per unit. Those expenses that don't fluctuate regardless of how many units are sold are referred to in this context as fixed costs. The production level at which all sales for a product net the same amount of money as all expenses is known as the breakeven point.
To know more about break-even point visit:
https://brainly.com/question/12181423
#SPJ4
Because the supply of capital is highly elastic, taxing the income from capital results in?
Because the supply of capital is highly elastic, taxing the income from capital results in i, ii, and iii
The elasticity of Supply: Price elasticity of supply gauges how responsively an item or service's supply responds to changes in its market price.
Because the supply of capital is highly elastic, taxing the income from capital results in i, ii, and iii
Complete Question: Because the supply of capital is highly elastic, taxing the income from capital results in?
i. firms that demand capital paying the greater share of the tax.
ii. a decrease in the equilibrium quantity of capital.
iii. a deadweight loss.
A) i only
B) ii only
C) i and iii
D) ii and iii
E) i, ii, and iii
To learn more about Elasticity of Supply, visit the following link:
https://brainly.com/question/8729849
#SPJ4
When bread is baked but put away for later sale, this is called: _______.
A. investment in inventory.
B. waste.
C. saving.
D. fixed investment.
When bread is baked but put away for later sale, this is called investment in inventory Option(A) is correct. Inventory may not just reflect actual things (like materials, parts, to some degree completed sub-gatherings) yet additionally information work-in-process.
What does Inventory means?Stock or stock alludes to the merchandise and materials that a business holds for a definitive objective of resale, creation or usage.
Inventory management is a discipline basically about indicating the shape and situation of loaded merchandise. It is expected at various areas inside an office or inside numerous areas of an inventory organization to go before the normal and arranged course of creation and load of materials.
The idea of inventory, stock or work in cycle (or work underway) has been reached out from assembling frameworks to support organizations and activities, by summing up the definition to be "all work inside the course of creation - all work that is or has happened preceding the finishing of creation.
Therefore Option(A) is correct.
Learn more about Inventory here:
brainly.com/question/14184995
#SPJ1
Stockholders are from the managers and employees of the firm because they are not actively involved in the operations of the firm. True or false?.
This is utterly FALSE! Stockholders are NOT the managers or the employees of the firm. But it is true that stockholders are not actively involved in the operations of the firm.
Stockholders are SEPARATE from the managers and employees of the firm due to the fact that they are not intimately participating in the firm's ops.
All that matters to stockholders is the profit the company will give them. As a result, managers and employees work for the company and are the reason why there is profit, not stockholders!
Well, there's an exception. If the stockholder is also the owner or elected as board of director, then they will be involved in the operations of the firm.
Know what happens when the stockholders elect a group of individuals to oversee the company's operation and to represent their interests: https://brainly.com/question/14702417
#SPJ4
The value of the surplus that is lost to buyers and sellers but converted into tax revenue may?
The amount of the surplus that is worthless to buyers and sellers but becomes tax income may be transferred to someone else through public policies, but it is not lost.
More about public policies:
The majority of the time, a government's established policies, laws, and behaviours make up its public policy. Concern over the new structure of government calls attention to how frequently state agencies now carry out these functions rather than the state itself.
By endorsing politicians and political parties, several individuals and organisations attempt to have an impact on public policy through the political process.
Learn more about public policy here:
https://brainly.com/question/24262123
#SPJ4
Markets in which the behavior of the firms theoretically leads to an efficient allocation of resources that maximizes the benefits to consumers given the resources available to consumers are:_________
Markets in which the behavior of the firms theoretically leads to an efficient allocation of resources that maximizes the benefits to consumers given the resources available to consumers are perfectly competitive markets.
What is perfect competition?
In economics, more specifically general equilibrium theory, a perfect market, also known as an atomistic market, is defined by a number of idealizing conditions that collectively are referred to as perfect competition, or atomistic competition. It has been shown in theoretical models with perfect competition that a market will find equilibrium when the amount supplied for each good or service, including labor, equals the amount sought at the current price. A Pareto optimal equilibrium would be this one.
The main characteristics of perfectly competitive markets includes long-run equilibrium in such markets satisfies the requirements of both productive and allocative efficiency. These two circumstances also have significant ramifications. Priority is given to the best alternative use of resources. The second benefit is that they offer society's highest level of fulfillment.
To know more about perfectly competitive markets, go to URL
https://brainly.com/question/1748396
#SPJ4
