What factors determine how much a person is paid for his or her work? According to most economics textbooks, our wages are determined just like any other price: by supply and demand. People supply their labor, and companies demand it, creating a market for labor. What kinds of issues are typically addressed in collective bargaining […]
What does good government mean?
What does good government mean? Good government is a normative description of how government is supposed to be constituted. It has been frequently employed by various political thinkers, ideologues and politicians. What are the qualities of good governance? Good governance has 8 major characteristics. ‘It is participatory, consensus-oriented, accountable, transparent, responsive, effective and efficient, equitable […]
What is culture and name 3 traits of a specific culture?
What is culture and name 3 traits of a specific culture? Culture has five basic characteristics: It is learned, shared, based on symbols, integrated, and dynamic. All cultures share these basic features. What is the difference between animals and humans with respect to culture? Animal society is mainly based on instincts or reflex behaviour, whereas […]
What is an alternative that we sacrifice when we make a decision?
What is an alternative that we sacrifice when we make a decision? Opportunity cost is –(a) any alternative we sacrifice when we make a decision. Is the value of the next best alternative that must be given up when a decision is made? Whenever a choice is made, something is given up. The opportunity cost […]
What were the 3 Ls in the 1500s?
Which one of the following statements is correct historical real rates of return must be positive?
Which one of the following statements is correct historical real rates of return must be positive? The correct answer is C. Explanation: In economics, real rate refers to a rate of return that accounts for the effects of inflation, in order to reflect how rates of return have really changed over time. When the rate […]
What is the purpose of public opinion polls?
What is the purpose of public opinion polls? Opinion polls are usually designed to represent the opinions of a population by conducting a series of questions and then extrapolating generalities in ratio or within confidence intervals. A person who conducts polls is referred to as a pollster. Does media affect public opinion? The relationship between […]
What do student typically need to have to take a standardized test?
What do student typically need to have to take a standardized test? A social security number. C) proof of residency. D) Test registration confirmation. Why do students typically need to have to take a standardized test? College Admissions: Why Standardized Testing Scores Matter. These exams help colleges and universities evaluate a large number of applications […]
Why are federal judges given lifelong tenure?
Why are federal judges given lifelong tenure? Some judges and members of upper chambers (e.g., senators for life) have life tenure. The primary goal of life tenure is to insulate the officeholder from external pressures. United States federal judges have life tenure once appointed by the president and confirmed by the Senate. What is Hamilton’s […]
Which of the following two African countries were created by secession?
Which of the following two African countries were created by secession? However, recent history gives reasons for a more favourable disposition towards secession in Africa. For example, two countries that have seceded (Eritrea in 1991 and South Sudan in 2011) became new members of the United Nations and African Union in 1993 and 2011 respectively, […]