Do incentive and coordination problems exist in an Islamic economy?
"The relative scarcity of resources makes the operation of any economy a matter of choosing between alternatives". Explain
Answers
Yes, incentive and coordination problems can exist in an Islamic economy, just as they can exist in any other economic system. Incentive problems arise when individuals or economic agents are not motivated to act in the best interest of the economy as a whole.
This can be due to factors such as lack of competition, imperfect information, or conflicting interests. In a decentralized Islamic economy, where individual economic agents make decisions based on their own self-interests, incentive problems can arise if there are inadequate mechanisms to align individual interests with the collective goals of the economy.
Coordination problems occur when there is a lack of effective communication and coordination among economic agents, leading to suboptimal outcomes. In an Islamic economy, coordination problems can arise due to factors such as fragmented markets, insufficient infrastructure, or inadequate institutional frameworks. These problems can hinder the efficient allocation of resources and impede economic growth.
Addressing incentive and coordination problems in an Islamic economy requires the establishment of appropriate institutional mechanisms, such as effective regulation, competition policies, and financial systems that align individual interests with the collective good. Additionally, fostering a culture of ethical behavior and social responsibility can also help mitigate these problems and promote a more efficient and equitable Islamic economy.
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Related Questions
What should you keep in mind when examining an income statement?
a) GAAP
b) Cash versus non-cash items
c) Asset composition
d) Time and costs
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You should keep in mind when examining an income statement are a) GAAP, b) Cash versus non-cash items, and d) Time and costs.
When analyzing an income statement, it's crucial to consider the time period it covers, the expenses related to making money, the make-up of the assets that generate income, the distinctions between cash and non-cash items, and the generally accepted accounting principles (GAAP) that were used to prepare the statement.
The income statement's extraordinary items should also be taken into account, and any modifications to the accounting principles utilized to compile the statement should be noted.
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Working for the Internal Revenue Service is a career in public safety.
A True
B. False
Answers
Answer: Most are so probably A
Explanation:
You can work there and see I don't really know how to explain
According to which model of behavior, there is no reason to offer incentive pay to employees?
Group of answer choices
a. The "Happy Is Productive" Model
b. The Behavioral Economics model
c. The "Good Citizen" Model
d. The "Product of the Environment" Model
Answers
Answer:
According to the "Happy Is Productive" model, there is no reason to offer incentive pay to employees.
Explanation:
The "Happy Is Productive" model suggests that employee satisfaction and well-being directly translate into increased productivity and performance. According to this model, employees are intrinsically motivated to perform well and do not require additional incentives, such as monetary rewards, to enhance their performance.
In this model, the belief is that employees derive satisfaction from their work, have a sense of purpose, and enjoy the tasks they perform. Therefore, offering incentive pay is considered unnecessary as it assumes that intrinsic motivation alone is sufficient to drive employee performance.
It is important to note that while the "Happy Is Productive" model suggests that incentive pay is not required, other models, such as the Behavioral Economics model and the "Product of the Environment" model, recognize the importance of incentives in influencing behavior and performance. The "Good Citizen" model emphasizes the role of employees as responsible and ethical individuals who contribute positively to the organization.
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a motivational speach before final exams
Answers
Explanation:
Honestly, you got this! Don't stress yourself too much! You are capable of AMAZING things! I am positive you will do great on this exam! Never stop working hard, but don't forget to reward yourself! You can do anything you set your mind to!
I don't know if this helped but GOOD LUCK!!
BOX 2.5 Case Highlight Limiting Imports of Hormone-Treated Beef Case Name and Tribunal European Communities-Measures Concerning Meat and Meat Products (Hormones) (WTO Appellate Body, 1998)17 Facts In response to concerns of EU citizens about the risks presented by beef injected with natural and synthetic growth hormones, the European Union imposed a ban on the import of such beef. The United States challenged the restriction under the SPS Agreement, claiming that the panel reviewing the issue evalu- ated the risk associated with the use of hormones for growth promotion twice and the only evidence on record showed that the studies looked at a "theoretical framework for the systemic analysis of such problems" but did not actually investigate and evaluate the problems that arise from the use of such hormones. Issue Did the EU's ban on hormone-treated beef comply with the re- quirements of the SPS Agreement? Decision A risk assessment, as required by Article 5.1, is "a scientific process aimed at establishing the scientific basis for the sani- tary measure a Member intends to take." The ban was found not to be based on a risk assessment that followed scientific principles and procedures and, therefore, was in violation of the SPS Agreement. Analysis/Application In order to rely on exceptions to the GATT under the Agree- ment on Technical Barriers to Trade (TBT Agreement), member states must rely on sound scientific principles and provide evi- dence of such. Aftermath The case raised difficult issues and required a consideration of the uncertainty presented by divisions of scientific opinion. The European Union was unwilling to remove its restrictions on the import of the hormone-treated beef, with the result that the WTO in 1999 authorized the United States and Canada to col- lect penalties of more than $100 million per year in extra duties on European exports. The European Union brought the issue back to the WTO, where unprecedented open hearings were held in 2005. The European Union argued that new scientific evidence showed that the European Union complied with the 1998 WTO judgment. The impasse between the United States and the European Union was settled by way of a negotiated agreement in 2012 in which the European Union kept its ban on importing hormone-treated beef but increased its quota for importing beef from Canada and the United States.
Answers
The case mentioned is the European Communities-Measures Concerning Meat and Meat Products (Hormones) case, which was brought before the WTO Appellate Body in 1998.
The case involved a dispute between the European Union (EU) and the United States regarding the EU's ban on the import of beef treated with growth hormones.
The EU had imposed the ban in response to concerns raised by its citizens regarding the potential risks associated with the consumption of beef injected with natural and synthetic growth hormones. The United States challenged the ban, arguing that the EU had not conducted a proper risk assessment as required under the Agreement on the Application of Sanitary and Phytosanitary Measures (SPS Agreement).
The Appellate Body, in its decision, determined that the EU's ban on hormone-treated beef did not comply with the requirements of the SPS Agreement. It stated that a risk assessment should be a scientific process aimed at establishing the scientific basis for the sanitary measure, and the EU's ban did not follow scientific principles and procedures.
The case highlighted the importance of relying on sound scientific principles and providing evidence when implementing trade measures that may restrict imports. Under the Agreement on Technical Barriers to Trade (TBT Agreement), exceptions to the General Agreement on Tariffs and Trade (GATT) require adherence to scientific principles.
The aftermath of the case resulted in tensions between the United States and the European Union, with the WTO authorizing the United States and Canada to impose extra duties on European exports. Subsequent efforts were made to resolve the dispute, and in 2012, a negotiated agreement was reached. The European Union maintained its ban on importing hormone-treated beef but increased its quota for importing beef from Canada and the United States.
Overall, the case showcased the challenges of balancing trade restrictions based on public health concerns and the need to ensure that such measures are supported by scientific evidence and comply with international trade agreements.
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High transportation costs are a disadvantage for companies that : A. ship component parts. B. ship large, bulky products. C. are service based. D. produce and ship products regionally. E. use customization.
Answers
High transportation costs are a disadvantage for companies that ship large, bulky products and produce and ship products regionally.
Companies that ship large, bulky products face challenges due to the size and weight of their goods. Transportation costs can be significantly higher for these companies compared to those shipping smaller, lighter products. The sheer volume and weight of the items require specialized transportation arrangements, such as larger vehicles, special handling equipment, and potentially higher shipping fees. Similarly, companies that produce and ship products regionally can be affected by high transportation costs. These companies may have to transport their goods over longer distances to reach their target markets. The increased mileage and transportation expenses can eat into their profit margins, making it more challenging to compete effectively. On the other hand, companies that ship component parts may benefit from lower transportation costs as the smaller size and weight of the parts can lead to more cost-effective shipping options. Service-based companies, which don't deal with physical products, are not directly affected by transportation costs. Customization is also not directly linked to transportation costs but can potentially impact costs in other areas of the production process.
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Explain one advantage of using retained profit as a source of finance.
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Look at the following chart. Producer A · Can produce 200 apples and 100 oranges in one day - Can produce 400 apples and o oranges in one day
Answers
Answer:
D
Explanation:
Based on the following information, the opportunity cost of producer A is to choose to grow both varieties of fruits or apples only. Thus the correct option is D.
What does the opportunity cost?A situation of abundance, where an individual has a variety of options available and chooses one option over another by evaluating their importance is referred to as opportunity cost.
In the given case, it is explained that Producer A's opportunity cost needs to determine between two choices. It states in the chart that producer A produces 200 apples and 100 oranges in a day. It also states that he can produce 400 apples and 0 oranges in one day.
Opportunity costs can be seen in every situation where a person is required to decide between something and giving up something else. In accordance with this theory, economic agents choose options that maximize benefits.
Therefore, option D is appropriate.
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List of the least five behaviors you feel would be behavior you feel would be considered irresponsible in the workplace. For each behavior listed, provide a detailed example/scenario to detail what makes the behavior either responsible or irresponsible.
Answers
Answer: See Explanation
Explanation:
Some of the behaviors that would be considered irresponsible in the workplace include:
1. Lateness: Every company has its working hours and it is required for the employees to adhere to the working hours and always get to work on time. Lateness is a bad habit in the workplace. For a company to achieve its goals, it's required for its workers to come to their workplace early and perform their duty well.
2. Cyberslackers: This occurs when the employees use the internet that is meant for work related activities to surf the net and browse sites that doesn't relate to their work. For example, a case whereby an employee is checking his or her social media at the workplace.
3. Lying to other employees: It is a bad behavior for an employee to lie or say something that's not true about a person in order to gain an advantage or for other person reasons Lying brings about lack of trust and disunity in the workplace.
4. Having a bad character: In an organization, it is vital for the employees to possess good characters such as being kind, caring, helpful etc. Possessing a bad character will have a negative effect on the company.
5. Theft: Employee theft is also an irresponsible behavior in the workplace. Stealing has a negative effect on the revenue of the company as it reduces the revenue such company makes. Employees should always make sure that they do not falsify information in order to gain a financial advantage or steal company's fund.
negative impact of the coronavirus as one of the socio-economic issue on businesses
Answers
Answer:
Explanation:
Tye negative impact of the coronavirus is that:
1. Unemployment: A negative effect of the virus is the increase in unemployment. Since, people were informed to stay at home, this hindered people from performing their normal activities. Since there was less money in circulation, this led to loss of jobs.
2. Pressure on Health and medical systems: Due to the spread of the virus, there were pressures on hospitals, clinics etc.
3. Negative effect on economic growth. There was a decrease in the demand of goods and services which in turn, had a negative effect on economic growth.
4. Deaths
The school zone has posted speed limits of 25mph during school hours. Define Incentives, and provide an example of one negative incentive
and an example of one positive incentive that could be used to encourage motorists to obey the speed limit.
Answers
Answer:
To encourage someone to do something.
Explanation:
Incentives is defined as a thing that encourages someone to do something. One negative incentive is to charge a big fine on the motorists for the high speed in the school hours so that they obey the laws strictly while on the other hand, example of positive incentive is to give rewards or gifts or medals to those who obeys the law of speed limits in the school hours.
What is the maximum home price a household can purchase with a downpayment of $30,000 and income of $100,000 if the maximum LTV is 95%, the maximum DTI is 40% and the loan is a 20 year fully amortizing mortgage at 4%.
Respond to closer integer with thousand comma separator, entering $100,000.54 as 100,001
Answers
To calculate the maximum home price, we need to consider the down payment, loan-to-value (LTV) ratio, debt-to-income (DTI) ratio, and the terms of the mortgage.
Down payment: $30,000
Income: $100,000
Maximum LTV: 95%
Maximum DTI: 40%
Mortgage term: 20 years
Interest rate: 4%
First, let's calculate the maximum loan amount based on the income and DTI ratio:
Maximum loan amount = Income * DTI ratio
Maximum loan amount = $100,000 * 0.40
Maximum loan amount = $40,000
Next, we calculate the maximum home price using the LTV ratio and the down payment:
Maximum home price = (Maximum loan amount + Down payment) / LTV ratio
Maximum home price = ($40,000 + $30,000) / 0.95
Maximum home price = $70,000 / 0.95
Maximum home price = $73,684.21 (rounded to the nearest dollar)
Therefore, the maximum home price a household can purchase is $73,684.
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multiple choice question strategy is . multiple choice question. the set of actions a firm takes to achieve a competitive advantage
Answers
1) A strategy is a course of action used by managers to achieve one or more objectives of the organization. A overall direction established for the business and its numerous parts to achieve a desirable condition in the future is another definition of strategy. The thorough strategic planning process yields strategy.
2) A firm's strategy is the collection of goal-directed actions it employs to achieve and maintain superior performance in comparison to rivals.
Planning a strategy requires keeping in mind that choices are not made in a vacuum and that each action done by a company is likely to elicit a response from those it will likely affect, including competitors, clients, employees, or suppliers.
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Brief, Inc., had a receivable from a foreign customer that is payable in the customer's local currency. On December 31, 2020, Brief correctly included this receivable for 372,500 local currency units (LCU) in its balance sheet at $240,000. When Brief collected the receivable on February 15, 2021, the U.S. dollar equivalent was $252,500. In Brief's 2021 consolidated income statement, how much should it report as a foreign exchange gain
Answers
The amount that should be reported as a foreign exchange gain is: $12,500.
Foreign exchange gainUsing this formula
Foreign exchange gain=U.S. dollar equivalent - Local currency units (LCU)
Let plug in the formula
Foreign exchange gain=$252,500-$240,000
Foreign exchange gain=$12,500
Therefore the amount that should be reported as a foreign exchange gain is: $12,500.
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does unemployment affect demand?
Answers
Yes it does. Unemployment is when a person isn't currently hired at a work pleace. If people are unemployed they are making no income so less people are in need of products so it lowers the demand.
Use this completely fictitious S-D table to answer the questions: Demand for apples Price per pound $0.50 7,500 6,500 $1 5,500 $1.50 4,500 $2 3,500 $2.50 2,500 $3 1,500 $3.50 Supply of apples 1,000 1,
Answers
The equilibrium price is $2 per pound, the equilibrium quantity is 1,900 pounds, and the total revenue at the equilibrium is $3,800.
To find the equilibrium price and quantity, we need to identify the point where the quantity demanded equals the quantity supplied. In other words, it's where the demand and supply curves intersect.
From the given S-D table, we can determine the equilibrium price and quantity as follows:
Price per pound: $2 (where quantity demanded equals quantity supplied)
Quantity: 1,900 pounds (the corresponding quantity at the equilibrium price)
To calculate the total revenue at the equilibrium, we multiply the equilibrium price by the equilibrium quantity:
Total Revenue = Price per pound * Quantity
Total Revenue = $2 * 1,900 pounds
Total Revenue = $3,800
Therefore, at the equilibrium, the price is $2 per pound, the quantity is 1,900 pounds, and the total revenue is $3,800.
The complete question must be:
Use this completely fictitious S-D table to answer the questions: Demand for apples Price per pound $0.50 7,500 6,500 $1 5,500 $1.50 4,500 $2 3,500 $2.50 2,500 $3 1,500 $3.50 Supply of apples 1,000 1,300 1,600 1,900 2,200 2,500 2,800 a) Find the equilibrium price and quantity and calculate total revenue at the equilibrium.
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boi, why am i alive.-
Answers
Answer: so you can grow older
Explanation:
Which of the following is something that will not affect your homeowners insurance premium? a. the age of the home b. the size of the home c. the color of the home d. the location of the home
Answers
Answer:
The color of the home.
Explanation:
All other options affect your insurance rates.
The color of the home will not affect your homeowners insurance premium. Option (c) is correct.
What do you mean by Location?The spot where a specific point or object is found is called its location. Geographically speaking, location is a key concept and is typically regarded as being more specific than "place." A locale is a place where people live, such as a city, town, hamlet, or even an ancient location.
You pay a premium when you purchase an insurance policy. Your recurring payments for many popular insurance products, such as life, car, business, homeowners, and renters, are known as premiums. Your policy could be cancelled if you don't pay your premiums.
The total amount paid to an insurer for insurance is referred to as a premium. A fire service levy, an emergency service levy, and GST might be included. It excludes any amount of duty or a charge paid to an intermediary. When it is received by the insurer, broker, or agent, a premium is considered paid.
Therefore, Option (c) is correct. The color of the home.
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I need help asapppppp!
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record the allocation of the underapplied/overapplied overhead to various accounts.
Answers
The allocation of underapplied or overapplied overhead is the process of distributing any difference between the overhead costs budgeted and the overhead costs actually incurred during a given period. This difference occurs due to discrepancies in the actual and estimated overhead costs.
To record the allocation, the actual overhead costs are first calculated. Next, the overhead rate is determined by dividing the overhead costs into the actual activity level. Finally, the overhead amount is allocated to different accounts based on the overhead rate.
In summary, to record the allocation of underapplied or overapplied overhead, the actual overhead costs must first be determined. Then, the overhead rate is calculated by dividing the overhead costs by the actual activity level. Finally, the overhead amount is allocated to different accounts based on the overhead rate.
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PILLAY MANUFACTURERS (PM) mutual agreement for work performed at night after 18:00 and before 6:00 the following day. Pillay manufacturers specialises in the manufacturing of fruit juice. Employees at PM have a normal rate. PM provided all black employees with learnerships and learning programmes. Black females are given opportunities to be included in shareholding in the business. Newly appointed employees were given access to the employment contract and were also inducted on different aspects. The induction programme included the following aspects: The tour of the premises, introduction to key people and immediate colleagues and a discussion of employee benefits. The business strives to set a code for ethical and effective leadership by the board of directors, by ensuring that all King Code principles are applied in all dealings. Employees have demonstrated some unprofessional business practices by taking extended lunch breaks to do their shopping. 1.1.1 PM needs to identify problems that affect their operations to make informed decisions. Brainstorming and force field analysis have been applied to enable them to solve complex business problems. Name TWO provisions of BCEA from the scenario above
Answers
Considering the scenario above, the two provisions of the BCEA would be:
The mutual agreement for night work after 6 pm and 6 am.The induction program that includes discussing employee benefits.What is the BCEA?Corresponds to an acronym for Basic Conditions of Employment Act, which is a South African labor law, which aims to provide decent standards and rights for local workers. Some of its principles are related to:
Working hoursOvertimeAnnual leaveLicensesTermination of the employment contractTherefore, BCEA is essential for labor regulation in South Africa, establishing rules on wages, child labor and other workers' rights.
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urban structure in the united states could be said to be a product of what economists call the bid-rent. what is meant by the bid-rent?
Answers
The bid-rent theory is an economic concept that explains how the price and demand for real estate are influenced by their location and accessibility.
It states that the value of a particular piece of land is determined by the maximum amount someone is willing to pay for it, based on its location and access to amenities and resources.
As an area becomes more desirable, demand for the land increases, and the bid-rent for that location also increases. This can lead to the development of high-density urban areas where property values are high, and lower-density suburban areas where property values are lower.
In the United States, this theory has played a significant role in shaping the urban structure of cities, as developers seek to maximize profits by locating their properties in areas with high bid-rent values.
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A social worker is most likely to find him- or herself working with troubled people who are 20-40 years old. True False A social worker is most likely to find him- or herself working with troubled people who are 20-40 years old. True False
Answers
Answer: True
Explanation: Text Evidence proves that it is true.
Answer:
False
Explanation:
Which intervention to manage a wandering client in a long-term care facility should be implemented? (select all that apply.)
Answers
Interventions to manage a wandering in patients in a long-term care facility that should be implemented are:
Camouflaging doorwaysClose observation to identify the person's individual patternsEngaging the person in social interactionsProviding enclosed pathways for walkingWhat is wandering?It is the ability of a patient to walk without needing assistance from others, which is important for the body's recovery after a medical procedure such as surgery. It is extremely necessary that there are safety methods so that ambulation occurs in a safe way for the patient, through interventions that promote effective and managed ambulation.
Therefore, environmental modifications can mean significant changes for faster recovery, promoting social interaction, mental health, safety and support for the patient's needs.
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How does marketing help your product or service
Answers
Answer:
Marketing informs your customers about the products or services you're offering them. Through marketing, the customers get to know about the value of the products, their usage and additional info that might be helpful to the customers. It creates brand awareness and makes the business stand out.
Explanation:
Sean has his high school diploma but no other schooling. What job is he most likely to get?
a. Interior designer
b. High school teacher
c. Food service worker
d. Psychiatrist
Answers
All the other jobs need special degrees
Abc company is in the process of issuing bonds. The bonds have a stated interest rate of 6%, which is 2% above the current market rate. What effect will the two interest rates have on the bond issue price?.
Answers
Answer:
The issue price will be above the bond's face value.
Explanation:
Refer to Exhibit 4.1. What is the firm's total debt to total capital ratio? Do not round your intermediate calculations.
a. 35.35%
b. 53.02%
c. 57.67%
d. 46.51%
e. 36.74%
Answers
The question is about the financial leverage ratio which is total debt to total capital.
The correct answer to the given question is D. 46.51%
ExplanationThis ratio measures the financial leverage of a company. It assess how much asset of a company are financed by debt.
FormulaThe formula to calculate total debt to total capital ratio is :
Total Debt [ Long term + Short Term] / Total Capital
If the total debt of the company is 29,060 and total capital is 62,481,
29,060 / 62,481 = 46.51%
The correct option is d. 46.51%
The exhibit 4.1 is found on quizlet website.
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A reference value involves a. comparing the costs and benefits of items from one particular manufacturer or distributor. b. products with which a consumer is familiar and items the consumer has not seen or used before.c. items of equal or greater value. d. substitute items.
Answers
Complete Question:
A reference value involves comparing the costs and benefits of?
Answer:
d. substitute items.
Explanation:
A price elasticity of demand can be defined as a measure of the responsiveness of the quantity of a product demanded with respect to a change in price of the product, all things being equal.
Mathematically, the price elasticity of demand is given by the formula;
\( Price \; elasticity \; of \; demand = \frac {Percentage \; change \; in \; price}{Percentage \; change \; in \; demand} \)
The demand for goods is said to be elastic, when the quantity of goods demanded by consumers with respect to change in price is very large. Thus, the more easily a consumer can switch to a substitute product in relation to change in price, the greater the elasticity of demand.
Generally, consumers would like to be buy a product as its price falls or become inexpensive.
Hence, a reference value involves comparing the costs and benefits of items substitute items.
A substitute item can be defined as a product (item) that a consumer sees as an alternative to another product (item) and as such would offer similar benefits or satisfaction to the consumer.
For substitute products (items), the cross-price elasticity of demand is always positive because the demand of a product increases when the price of its close substitute (alternative) increases.
List the 3 main credit bureaus and explain what information they collect.
Answers
The three main credit bureaus are Equifax, Experian, and TransUnion, which collect and research individual credit information sold to creditors.
What is a credit bureau?A credit bureau provides the information that creditors and lenders use to make important lending decisions.
Principally, credit bureaus:
Collect credit information of individuals.Make the information available to third parties (lenders and creditors).Provide credit ratings and reports to individuals when requested.Thus, a credit bureau provides the information that creditors and lenders use to make important lending decisions.
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