In
less than 100 words, describe the advantages and disadvantages of
using mathematical modeling in economics.
Answers
Advantages: Precision and Accuracy: Mathematical models allow economists to analyze complex economic systems with precision and accuracy, providing quantitative predictions and insights.
Simplification and Focus: Models help simplify real-world complexities by focusing on key variables and relationships, allowing economists to isolate and study specific economic phenomena.
Policy Evaluation: Mathematical models enable policymakers to evaluate the potential impacts of different policy interventions before implementation, helping to inform decision-making.
Disadvantages: Assumptions and Simplifications: Models rely on assumptions that may oversimplify the real world, potentially leading to inaccurate predictions and limited applicability.
Data Limitations: Mathematical models require reliable and comprehensive data, which may not always be available or accurate, leading to potential biases and uncertainties in the results.
Complexity and Interpretation: Interpreting and understanding mathematical models can be challenging, as they often involve complex equations and technical concepts that may be difficult for non-experts to comprehend.
Overall, while mathematical modeling provides valuable insights, its effectiveness relies on the quality of assumptions, data, and interpretation, and it should be used in conjunction with other analytical tools and considerations.
Learn more about economic here
https://brainly.com/question/28210218
#SPJ11
Related Questions
n an E-R diagram, there are/is ______ business rule(s) for every relationship. A) two. B) three. C) one. D) zero.
Answers
In an E-R diagram, there are/is one business rule(s) for every relationship because this business rule defines the nature and constraints of the relationship between two entities. Option C.
In an Entity-Relationship E-R diagram, a business rule defines the nature and constraints of the relationship between two entities. It represents the logic or requirement that governs the relationship.
While there can be additional rules related to specific aspects of the relationship, such as cardinality constraints or participation rules, there is generally one overarching business rule that characterizes the relationship itself. Hence, option C is correct
This primary business rule outlines the purpose and meaning of the relationship, describing how instances of the entities are associated with each other.
It provides clarity and context to the relationship, ensuring that the intended semantics and behaviors are captured in the diagram.
By encapsulating the essential business logic, the business rule in an E-R diagram serves as a foundation for designing and implementing the corresponding database schema.
To learn more about business, click here:
https://brainly.com/question/24553900
#SPJ11
The time value of money simply means that the value of cash flows depends on when it happens.
True
False
Answers
although there are many functions that are important in both the start-up and management phases of the business, what two functions are considered to be primary concerns?
Answers
There are several important functions when starting-up and managing a business but the two primary functions are planning and financing.
What are the most important functions in business?When starting up a business, and then subsequently managing it, the most important, or the primary functions that one should be concerned with are planning and financing.
Planning ensures that one knows what the goals of the business are and so manages it to achieve those goals. Financing deals with ensuring that the funds needed to start the business and run it, are available.
Find out more on the start - up phase at https://brainly.com/question/985359
#SPJ1
zappos sells shoes. its ceo, tony hsieh, considers the core element of its differentiation advantage to be its variety of shoes. group of answer choices false true
Answers
Zappos sells shoes. Its CEO, Tony Hsieh, considers the core element of its differentiation advantage to be its variety of shoes is true.
Who is a CEO?A CEO can be understood as one oseveralof corporate executives charged with the management of an organization, especially an independent legal entity such as a company or nonprofit institution. CEOs find roles in a range of organizations, including public and private corporations, non-profit organizations and even some government organizations.
The CEO of a corporation or company typically reports to the board of directors and is charged with maximizing the value of the business.
Learn more about CEO, here:
https://brainly.com/question/30163830
#SPJ1
Brandy works in a laboratory. She performs experiments to develop new methods of food production and processing.
Her job is best described as a(n):
Clarence is an independent worker who offers his pervices to many different farms. He teaches farmers how to run their farms more efficiently and safely. Clarence's job is best described as a(n):
Leon hires and manages workers who handpick oranges and other fruits on farms. He trains and oversees the
workers. Leon's job is best described as a(n):
The choice are:
Buyer or Purchasing Agent, Farm Labor Contractor, Food Scientist, Farm Management Adviser
Answers
Answer:
1) Food scientist
2) Farm management advisor
3) Farm labor contractor
Explanation:
Which of the following processes are related to working memory? -Problem solving -information comprehension -decision making.
Answers
Decision making processes is related to working memory. Working memory is frequently described in terms of short-term storage buffers, rehearsal processes that replenish the buffers, and executive processes that control the information in the buffers.
We examine the research on the neural systems that may underpin working memory storage and rehearsal. When you deliberately focus on something (a sign, a sound, or where you put your keys), your brain has received the information and has made the conscious decision to pay attention to it. The memory process begins with that conscious sense. Three independent methods—recall, recognition, and relearning—are used by researchers to gauge forgetting and retention.
To learn more about processes, click here.
https://brainly.com/question/13185356
#SPJ4
What determines what goods and services are produced by a nation in the economy?
O The wants of other nations
O The wants of the citizens
None of the answers are correct
Answers
The factor that determines the goods and the services that are produced by a country is the wants of the citizens.
What is want in economics?This is a term that has to do with the goods and services that are desired by the people of a nation.
The wants of the people are satisfied using the available resources that are in the economy.
Read more on production here:
https://brainly.com/question/16755022
#SPJ1
After submitting a résumé electronically, how long should you wait before following up with an employer? a. 1-2 days b. 1-2 weeks c. 2-3 days d. 4-5 days
Answers
Answer:
2-3 days edge 2020
Explanation:
After submitting a résumé electronically, One should wait before following up with an employer for 2-3 days. Thus the correct option is C.
What is Resume?A Resume is referred to as a document that is used at the time of applying for a new job containing all the important details about a candidate which can be utilized in a job application.
A resume contains information about personal details, professional details about previous job roles and experience as well as academic qualifications. It also provides information about the skills and abilities of the candidate.
It is said that when a candidate applies for a job and submits a Resume electronically one should wait for two-three days before following up with the employer as recruitment is a complex process and it takes time to review a number of resumes.
This Resume is used to frame a visual image of a candidate in employers' eyes which helps them to establish a positive response from them.
Therefore, option C is appropriate.
Learn more about Resume, here:
https://brainly.com/question/862477
#SPJ6
Creating an anonymous complaint or grievance process is something
employers can implement to prevent which of the following?
O A. Layoffs
B. Harassment
C. Taxed income
D. Arguments
Answers
hope I could help goodluck
the idea that the government can stimulate a slow economy by increasing public spending or cutting taxes is called
Answers
The ideology behind the government move that can stimulate a slow growth economy by increasing public spending or cutting taxes is called Fiscal Policy.
What is Fiscal Policy?A nation's central bank is primarily responsible for overseeing monetary policy also knows as Fiscal policy. For example Federal Bank in US, Central Bank of England in UK & Reserve Bank of India in India are responsible for drafting & implementing monetary policy respectively.
Money, currency, and interest rates are the main subjects of monetary fiscal policy.
On the other hand, the government deals with revenue and spending by the Center under the fiscal policy.
Therefore cutting taxes & increasing public spending are major quadrants of fiscal policy in an economy.
To know more about Fiscal Policy refer:
https://brainly.com/question/14042438
#SPJ1
GAWAIN 2
Panuto, Gamit ang Venn diagram, Thambing ang mga katangian ng balalawiting panudyo,
lugmang de gulong, hugtong, apalalaman, Teulat sa aimang bahagi ang pagkakatulad ng
dalawang karunungang hayang inihahambing,
Tulal Awiting
Papudyo
Tugmang de Galang
Pagkakatulad
Bulong
Palaisipan
Pagkakatulad
Answers
Explanation:
ANG TUGMANG DE GULONG AY ISANG TUMANG TULAANG TUGMANG DE GULONG AY ISANG TUMANG TULA꧁#CarryOnLearning꧂ANG TUGMANG DE GULONG AY ISANG TUMANG TULA꧁#CarryOnLearning꧂❀⊱─━━━━━━⊱༻●༺⊰━━━━━━─⊰❀The Free enterprise system is:
A: Supply & Demand
B: Designed to protect consumers' best interests
C. Requires both sides of the story
D. Free of competition
Answers
Answer:
Free enterprise is the freedom of individuals and businesses to regulation. It enables individuals and businesses to create, produce, are able and willing, enterprising people produce goods and services for produce and sell goods and services. In this system, no one forces people they believe to be best for them.
An HR manager solves a paperwork snag involving an employee’s paycheck. compensationand benefit, True or False?
Answers
True, An HR manager solves a paperwork snag involving an employee’s paycheck.
What part does HR play in benefits?
According to SHRM, one of the key roles of human resources is to inform employees about the various kinds of employee benefits, including leave of absence policies, employee support programs, and worker's compensation benefits.
Managers of human resources offer discreet advice to employees who require personal support.
What potential facets of employee benefits might an HR manager oversee?
Managers of human resources are frequently charged with overseeing wages and benefits for employees.
In order to provide effective leadership within the HR division, insurance plans must be negotiated, payments must be made on time, and employee benefit packages must be improved and developed.
Learn more about An HR manager
brainly.com/question/25806768
#SPJ4
how to get stimulus check 2021 if you didn t file taxes
Answers
Answer:
you may need to file a 2020 tax return even if you don’t traditionally file.
Explanation:
This FAQ can help you understand how the system works and what you can do to claim any stimulus that you may be eligible to receive.
To examine
the weekly payroll of all employees, one would look at the:
Answers
To examine the weekly payroll of all employees, one would look at the: d. payroll register.
What is the payroll register?The payroll register is a book or record that is used to fill in the details of all the employees and their payment logs. A record of this register is often kept in good condition in case of any future discrepancies that will have to be resolved.
A person who wants to examine the weekly payroll of all employees in an organization must be able to look at the payroll register to know what is obtainable. There, he would find the names of the employees, their job roles and payment record.
Options:
a. W-4
b. employee earnings record
c. W-2
d. payroll register.
Learn more about the payroll register here:
https://brainly.com/question/24265652
#SPJ1
How do I stop procrastinating
Answers
https://www.virtuemap.com/
_____ allows industries, organizations, and companies to approach business decisions from different perspectives. Arbitration Ergonomics Tolerance Workforce diversity
Answers
Answer:
Workforce diversity
Explanation:
Workforce diversity refers to similarities and differences between employers and employees in terms of their race, religion, gender, perspectives and opinions.
Diversity is important for every industry, organization, and company since people have different perspective and views, they approach business problems differently, leading to different solutions. Diversity leads to increase profits, creativity, wide range of skills e.t.c.
What are two things a good investment might do?
Answers
Answer: With a good investment there should be very little chance of losing the total amount invested. Good investment ideas will hold their value or increase in value for a long time. The way any investment product is structured and regulated should offer investors protection.
Explanation:
Good investment must contain
Long term planPast records The fund where you invest must have good past records of benifit.If it has Andy fraud records of misleading money you shouldn't invest thereAlso the growth rate must be measured for long term interest and benifitshow does better equipment affect Labour productivity
Answers
Answer:
It helps get everything done faster and better.
Explanation:
If you're using good tools obviously you'll get a better outcome in a better time.
it is more effective and efficient to find your employees doing something wrong than to find them doing something right in the workplace.
Answers
The first-class way to offer surroundings conducive to effective motivation is to set up an agreement with and respect together with your employees. it is extra effective and green to discover your employees doing something wrong than to discover them doing something proper in the workplace.
An employee is a person who receives paid for paintings for someone or an employer. people do not want paint full time to be taken into consideration by employees—they absolutely want to be paid to work by an employer (the person or enterprise that pays them).
An instance of an employee is an individual who's employed via McDonald's and is paid a positive amount of money for every hour worked. a person who works in the carrier of another (the company) difficulty to a contract for lease, where the agency controls the situations of labor performance. You furthermore may want to price your employees the way you price your clients due to the fact they have the maximum powerful power to carry into your organization. if you trust and fee your personnel, they'll be more committed to serving customers properly and serve the company in the long run in a splendid manner.
Learn more about employees here:
https://brainly.com/question/1190099
#SPJ4
What is a subcontractor
Answers
Answer:
business or person that carries out work for a company as part of a larger project.
Explanation:
A hun
On March 2, 2021, Finch City issued ten-year general obligation bonds at face value, with interest payable on March 1 and September 1. The proceeds were to be used to finance the construction of a civic center over the period April 1, 2021, to March 31, 2022. During the fiscal year ended June 30, 2021, no resources had been provided to the debt service fund for the payment of principal and interest. On June 30, 2021, Finch’s debt service fund should include interest payable on the general obligation bonds for __________.
Answers
Answer:
zero ( 0 ) months
Explanation:
Finch's debt service funs should include interest payable on the general obligation Bonds for zero ( 0 ) months
Given that the general obligation bond was issued on March 2 2021 the interest payable on March 1 2021 will not be Included on June 30 2021 Finch's debt service fund. since that date marks the end of the fiscal year ( 2021 ) and the bond was issued beyond that date and no resource have been provided as well.
A group of new "Amazonian" managers will lead the new branches in Brazil each with more than 25 employees each. The Training Development team at "Amazonian" has determined that the new managers will need to learn about problem-solving techniques and solutions to different problems. The learning objective says: "Upon completion of this training, the managers in training will be able to identify and label different types of problems and describe solutions to problematic situations." As a Training Developer, what instructional strategies would you use to deliver learning of this instructional objective? Choose the correct response from the options below. Select all that apply.
Answers
By incorporating the instructional strategies, the Training Developer can create a comprehensive and engaging learning experience for the managers in training, enabling them to effectively identify and label different types of problems and describe solutions to problematic situations.
As a Training Developer, to deliver learning for the instructional objective of identifying and labeling different types of problems and describing solutions to problematic situations, the following instructional strategies can be used:
1. Case Studies: Presenting real-life or fictional scenarios that depict various types of problems and challenging situations. The managers in training can analyze the cases, identify the problems, and propose appropriate solutions. This strategy allows them to apply problem-solving techniques in a practical context.
2. Role-Playing: Conducting role-playing exercises where managers in training act out different problematic situations. They can take on different roles and work through the problems by employing problem-solving techniques. Role-playing encourages active participation and hands-on learning.
3. Group Discussions: Facilitating group discussions where managers in training can share their experiences and perspectives on different types of problems and potential solutions. This strategy encourages collaborative learning and the exchange of ideas and best practices among the participants.
4. Interactive Workshops: Organizing interactive workshops that involve interactive presentations, hands-on activities, and group exercises. These workshops can focus on different problem-solving techniques and provide opportunities for managers in training to practice applying those techniques to specific scenarios.
5. Simulations or Gamification: Utilizing computer-based simulations or gamified learning experiences that simulate real-world problem-solving situations. These interactive tools allow managers in training to navigate through various problems, make decisions, and observe the consequences of their actions in a risk-free environment.
Learn more about Training here:
https://brainly.com/question/30086457
#SPJ11
What can you get with a 800 credit score?
Answers
With a credit score of 800 one is likely to be approved for additional credit lines, such as personal loans, mortgages, and auto loans.
What is a credit score?An individual's creditworthiness is shown by their credit score, which is a numerical expression based on a level analysis of their credit files. A credit report, which normally includes data from credit bureaus, serves as the foundation for a credit score.While every creditor defines its own ranges for credit scores, the average FICO Score range is often used.Additionally, you might be eligible for credit cards that offer higher benefits and points, like entry to airport lounges and complimentary breakfast at hotels.Excellent: 800–850
Very Good: 740–799
Good: 670–739
Fair: 580–669
Poor: 300–579
To learn more about credit scores from the given link:-
https://brainly.com/question/12202158
#SPJ4
One consideration in choosing a marketing channel is profitability, which is determined by the margins earned for each channel member and for the channel as a whole. Based on this information, which of the following statements would be most accurate?a. The more responsibilities a channel member takes in terms of distribution, advertising, and selling expenses, the greater the potential for manufacturer profitability.b. The more responsibilities the manufacturer assumes relative to its channel members, the greater the potential for profitability.c. The extent to which channel members share costs determines the margins received by each member and by the channel as a whole.d. While channel members can increase profitability by taking on distribution and selling expenses, advertising expenses should always remain with the manufacturer if a firm is looking for the greatest profitability.e. Profitability is not related to the length or nature of the distribution chain but determined by the manufacturer.
Answers
Option c is the most accurate. The extent to which channel members share costs determines the margins received by each member and by the channel as a whole.
What is a Marketing channel?
The people, organizations, and activities necessary to transfer product ownership from the point of production to the point of consumption make form a marketing channel. It acts as a conduit for distribution and is how goods are sent to consumers, who are the final users. The use of a marketing channel as a management tool is necessary for the creation of an effective and well-thought-out marketing plan. Another less well-known sort of marketing channel is dual distribution.
To know more about Marketing channel visit: brainly.com/question/17204465
#SPJ4
in perfect competition, price is equal to marginal revenue while in monopoly price is greater than marginal revenue. true false
Answers
The statement "In perfect competition, price is equal to marginal revenue while in monopoly price is greater than marginal revenue" is false because in perfect competition, the price is equal to marginal revenue.
Under perfect competition, all firms sell identical goods and can sell their goods at the prevailing market price. This implies that each firm takes the price of the product as a given and therefore, the price is equal to marginal revenue. In the case of monopoly, the price is greater than the marginal revenue.
The demand curve for a monopolist slopes downwards. As a result, the monopolist must reduce the price of its product in order to sell more of it. Marginal revenue will be less than the price as a result of this. This is why the monopolist's price is greater than the marginal revenue.
Learn more about marginal revenue here: https://brainly.com/question/29110270
#SPJ11
Antonio has been learning to draw landscapes. It has been hard at times but he is happy about the progress he has made. What is this an example of?
solution
problem
advice
d.challenge
'
Answers
Answer:
Challenge
Explanation:
Hope this helps :)
the fact that consumers should have access to public-policy makers regarding complaints about products and services relates to consumers' right to
Answers
The fact that consumers should have access to public-policy makers regarding complaints about products and services relates to consumers' right to free speech.
Consumers should be able to freely express their concerns and opinions about products and services to policy makers in order to ensure that their grievances are properly heard and addressed.
This allows consumers to be protected from any potential wrongdoings or mistreatments they may face while engaging in a purchase or service transaction. Additionally, it allows policy makers to assess the quality of products and services in the market, and make changes to policies as necessary to protect the consumers.
Hence correct answer is right to free speech.
To know more about consumer rights here
https://brainly.com/question/26466790
#SPJ4
Planning is an important part of management. You find your batting cages can serve 20 customers each per day and take up about 1,600 square feet each. In two years, you hope to serve 300 customers per day. About how much room will you need just for batting cages?.
Answers
The spaces taken up to serve 300 customers per day is; 24,000 square feet each
According to the question;
We are required to determine how much room will you need just for batting cages.By proportion;
To serve 20 customers each per day; the batting cages take up about 1600 square feet each
To serve 300 customers each per day; the batting cages would take up about;
= (300 × 1600)/20= 24,000 square feet eachTherefore, 24,000 square feet each is required to serve 300 customers per day.
Read more;
https://brainly.com/question/3796978
To file your federal and state taxes you ____________?
a)must prepare different forms for each type of government (if your state requires it)
b)can use tax preparation software for federal taxes, but can't for state taxes
c)must prepare the same tax forms for both
d)can use tax preparation software for state taxes, but can't for federal taxes
Answers
Answer:
a)must prepare different forms for each type of government (if your state requires it)
Explanation:
Federal is the same for everyone, state is dependent for which state you live and work in. B and C are wrong because you can use tax preparation software for both Federal and state.
To file your federal and state taxes you should: a. prepare different forms for each type of government (if your state requires it)
Recall:
Preparing of tax returns for federal and states is done using different forms as it applies to your state.There are tax preparation software that can be used whether federal or state tax. Examples of tax preparation software are Credit Karma Tax, Jackson Hewitt, TaxSlayer, among others.Therefore, to file your federal and state taxes you should: a. prepare different forms for each type of government (if your state requires it)
Learn more about federal and state taxes on:
https://brainly.com/question/1304076