Business College

Critique the concept of Socialism using appropriate examples

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Answer 1

The concept of socialism can be critiqued using examples of countries in which socialist economic systems have been enforced similar as the former Soviet Union, Venezuela, Cuba.

Critics argue that these countries have experienced economic recession, low norms of living, and a lack of individual freedoms due to the absence of free request competition and government control over resources and product. Socialism's critics argue that the absence of incentives for individual initiative, innovation, and profit has led to low situations of effectiveness, productivity and quality in these countries.

sympathizers of socialism argue that there are also examples of socialist systems that have achieved high living norms and greater economic equality similar as in Scandinavia.

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Related Questions

Which 2 reports are among the top 20 memorized reports that convert from QuickBooks Desktop to QuickBooks Online?

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The two reports that are among the top 20 memorized reports that convert from QuickBooks Desktop to QuickBooks Online are Profit and Loss and Balance Sheet reports.

The Profit and Loss report, also known as the Income Statement, shows the revenue and expenses of a business over a specified period. It helps in understanding the profitability of a business by highlighting the revenue earned, cost of goods sold, and expenses incurred. Business owners can use this report to identify areas where they can reduce expenses and increase revenue.

On the other hand, the Balance Sheet report shows the financial position of a business at a particular point in time. It presents a snapshot of the assets, liabilities, and equity of a business. It helps in understanding the liquidity of a business and its ability to meet its financial obligations. Investors use this report to evaluate the financial health of a business before making investment decisions.

In summary, the Profit and Loss and Balance Sheet reports are essential reports that every business owner needs to understand to make informed financial decisions. They provide valuable insights into the financial health of a business and help in identifying areas that require improvement.

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Other Questions
Thermodynamics: Potassium Nitrate Dissolving in Water Introduction When potassium nitrate (KNO3) dissolves in water, it dissociates into potassium ions Ky and nitrate ions (NO3-). Once sufficient quantities of K+ and NO3' are in solution, the ions recombine to form solid KNO3. Eventually, for every pair of ions that forms, another pair recombines. As a result, the concentrations of these ions remain constant; we say the reaction is at equilibrium. The solubility equilibrium of KNO3 is represented by the equation KNO:(s) = K (aq) + NO: (aq) where opposing arrows indicate that the reaction is reversible. We call this system, with undissolved solid that is in equilibrium with its dissolved ions, a saturated solution. We can describe the saturated solution with its fixed concentrations of ions with an equilibrium constant expression. Ksp = [K+] [NO:] The sp stands for solubility product and the square brackets around the ions symbolize molar concentrations in moles/liter (M). The equation serves as a reminder that the equilibrium constant not only is concerned with solubility but also is expressed as a product of the molarities of respective ions that make up the solid. The Ksp values can be large (greater than 1) for very soluble substances such as KNO3 or very small (less than 10-10) for insoluble compounds such as silver chloride. Further, as the solubility of a compound changes with temperature, its Ksp values change accordingly because Ksp is, likewise a function of temperature. Thermodynamics We use thermodynamics to understand how and why KNO3 dissolves in water. The enthalpy change, AH, for KNO3 dissolving in water provides the difference in energy between solid KNO3 and its dissolved ions. If AH is positive, heat must be added for KNO3 to dissolve. On the other hand, if AH is negative, dissolving KNO3 in water releases heat. The entropy change, AS, for KNO3 dissolving in water indicates the relative change in disorder with respect to solid KNO3. We therefore expect AS for solid KNO3 dissolving in water to be positive because there are 2 moles of ions that are being formed from the disintegration of 1 mole of KNO3. Hence 2 moles of products have more disorder compared to 1 mole of the reactants. Finally the free energy change, AG, for KNO3 dissolving in water indicates whether the process occurs spontaneously or not. If AG is negative, solid KNO3 spontaneously dissolves in water. The equilibrium constant is related to the free energy change through the equation AG =-RTINKS Recall that the free energy change is related to enthalpy and entropy through the Gibbs- Helmholtz equation AG = AH-TAS Combining the two preceding equations and algebraically rearranging them provides the following equation into the form of a straight line (y=mx+b) In Ksp =- A Therefore, a plot of InKsp vs. (9) will be linear with a slope equal to - and a y intercept value equal to . It is assumed that AH is constant and therefore independent of temperature. Pre-Lab Questions 1. What is a saturated solution? 2. Potassium chloride (KCl) dissolves in water and establishes the following equilibrium in a saturated solution: KCI K (aq) + Cl" (aq) The following Ksp data was determined as a function of the Celsius temperature. Temp (C) Ksp Temp. (K) (4) (K1) InKsp AG (J/mol) 20.0 40.0 18.5 60.0 24.8 80.0 30.5 13.3 a. Complete the entries in this table by converting temperature to Kelvin scale and calculate the corresponding values for ), InKsp and AG. b. Using an excel worksheet, plot InKsp as a function of () and display the trendline. Print the graph and tape or glue it into your notebook. c. Use the slope on the equation obtained in (b) to calculate the AH value for KCl dissolving in water. d. Calculate the value of AS at 20.0C. Using the intercept, calculate the average value of AS for the reaction. Are there any significant differences between the two AS values you have calculated? 3. Mary Wollstonecraft wrote in Ms. magazine.TrueFalse How many hours must be traveled by car for each hour of rock climbing to make the risks of fatality by car equal to the risk of fatality by rock climbing? A cylindrical pressure vessel is subjected to a normal force F and a torque. P = 80 psi F=500lb T=70 lb. ft t=0.1 in din = 4in Oyp = 30ksi Will the material fail under Tresca's yielding criterion ? write a python function that takes in a relation on the set - {0, 1, 2, 3} and return a boolean value indicating whether the given relation is an equivalence relation. Calculate the degrees of freedom that should be used in the pooled-variance t test, using the given information. s* =4 s2 = 6 n1 = 16 n2 = 25 0 A. df = 25 B. df = 39 C. df = 16 D. df = 41 Which of these technologies are NOT part of the retrieval of data from a REMOTE web site?A) RSSB) XMLC) AJAXD) SOAPE) Web Service if a potential loss on a contingent liability is remote, the liability usually is express the sum in closed form (without using a summation symbol and without using an ellipsis ). n r = 0 n r x9r In a bag there are pink buttons, yellow buttons and blue buttons Un comerciante a vendido un comerciante ha vendido una caja de tomates que le cost 150 quetzales obteniendo una ganancia de 40% Hallar el precio de la venta the demand for a product is = () = 300 where x is the price in dollars. Consider a community of 3 households. The marginal benefit/inverse demand for police protection services (denoted as S) for each household is given below:MB1 = 140 SMB2 = 100 SMB3 = 50 SThe marginal cost of providing police protection services is 200 per unit. Police protection services are a nonrival good.The community is committed to treating the police protection services as nonexcludable.What is the efficient quantity of police protection services for this community? Show your calculation.If police services are supplied at a price of 200 per unit, what is the private non-cooperative equilibrium quantity of police protection services bought by the households? Provide a brief explanation.If MB1= 230 2S, with MB2, MB3, and MC the same as above, how do the efficient quantity and the private equilibrium quantity change?Is the Deadweight Loss associated with the Private Provision Equilibrium larger or smaller for the original community (parts a and b) or the second community (part c)? Right a nine hundreddd wrdddd essssaa on the screenshot Roys Toys is a manufacturer of toys and childrens products. The following are selected items appearing in a recent balance sheet.Cash and short-term investments$47.3Receivables159.7Inventories72.3Prepaid expenses and other current assets32.0Total current liabilities130.1Total liabilities279.4Total stockholders' equity344.0Dollar amounts stated above are in millions.a-1. Using the information above, compute the amounts of Roy's Toys quick assets. (Enter your answer in millions of dollars rounded to 1 decimal place.)a-2. Using the information above, compute the amounts of Roy's Toys total current assets. (Enter your answer in millions of dollars rounded to 1 decimal place.)b-1. Compute for Roy's Toys quick ratio. (Round your answer to 1 decimal place.)b-2. Compute for Roy's Toys current ratio. (Round your answer to 1 decimal place.)b-3. Compute for Roy's Toys dollar amount of working capital. (Enter your answer in millions of dollars rounded to 1 decimal place.) the aw of aoc usually decreases over the years.True/False light travels at 186,283 miles every second. how many feet per hour does light travel? round your answer to one decimal place, if necessary. places.) (a) Compute a 95% CI for when n=25 and x=53.6. (, ) watts (b) Compute a 95% CI for when n=100 and x=53.6 ( , ) watts (c) Compute a 99%CI for when n=100 and x=53.6. ( , ) watts (d) Compute an 82% CI for when n=100 and x=53.6. ( , ) watts (e) How large must n be if the width of the 99% interval for is to be 1.0 ? (Round your answer up to the nearest whole number.) n= determine whether the series converges or diverges. [infinity] n2 6n n3 3n 1 n = 1 Suppose you implement a RAID 0 scheme that splits the data over two hard drives. What is the probability of data loss