0
Freedom is not a goal of economics, but there is economic freedom that allows all members,of a society to attain economic viability.
Add your answer:
Earn +20 pts
Which of these government policies pursues the economic goal equity?
Providing welfare benefits -apex
What government policies pursues economic goal of equity?
providing welfare benefits
What is capitalism an example of?
When Walmart pursues opportunities in the market to make more money, that is considered capitalism. The ability for businesses and individuals to pursue profits, as long as it is legal, is an example of capitalism.
What are differences between international firm and global firm and how to alter from international firm to global firm?
* INTERNATIONAL FIRM - simply do import and export - operates in foreign countries through licensing and franchising - managed by nationals of home country - concentrates in some countries or regions * GLOBAL FIRM - invests and is present in many countries - has affiliates, subsidiaries and branches in many countries - draws resources such as labor,capital and materials from a global pool - pursues global business strategy. * An International firm can become a global firm by pursuing global business strategy
What are the advantages and disadvantages of profit maximisation?
i dont knowSkip to main content.Subscribe to the Houston Chronicle | Shopping | Classifieds | Obituaries | Place an Ad | La VozRegister | Sign InChron.comWeb Search by YAHOO!Local DirectoryHomeLocalUS & WorldSportsBusinessEntertainmentLifestyleJobsCarsReal EstateSmall Businessby Demand MediaBusiness Technology & Customer Support|Business Communications & Etiquette|Human Resources|Managing Employees|Setting Up a New Business|Advertising & Marketing|Business & Workplace Regulations|Types of Businesses to Start|More »» Business Models & Organizational Structure» Accounting & Bookkeeping» Business Planning & Strategy» Finances & Taxes» Running a Business» Money & DebtSmall Business >Finances & Taxes >ProfitAdvantages & Disadvantages of Profit Maximization by Renee O'Farrell, Demand Media inShare0Share Bit.lyBloggerDeliciousDiggGoogle BookmarkGoogle PlusInstapaperPosterousStumbleuponTumblrYahoo! BookmarkxRSSEmailMaximizing profits as a strategy is fine in the short term, but consequences exist.profit image by Michael Shake from Fotolia.comRelated ArticlesDifference Between Sales Maximization & Profit MaximizationSales Maximization Vs. Profit MaximizationAdvantages and Disadvantages of For-Profit CompaniesRevenue Maximization vs. Profit MaximizationAdvantages & Disadvantages of Retained ProfitThe Advantages & Disadvantages of Economic Order Quantity (EOQ)When a firm applies profit maximization, it is basically saying that its primary focus is on profits, and it will use its resources solely to get the biggest profits possible, regardless of the consequences or the risk involved. Profit maximization is a generally short-term concept. Application usually lasts less than one year, although some companies employ this strategy exclusively, constantly jumping on the next big trend.RiskPursuing a profit maximization strategy comes with the obvious risk that the company may be so entrenched in the singular strategy meant to maximize its profits that it loses everything if the market takes a sudden turn. For example, a company may find that it gets the most profit selling the Wii gaming system, so instead of keeping a balanced inventory, it invests solely in buying Wiis to sell. If the Wii goes out of favor or the makers of the Wii begin to limit the price that can be charged for the system, the company that relied solely on its investment in Wiis could lose everything. Similarly, if a company focuses only on maximizing its profit, it may miss opportunities for investment and expansion. Expectation and GoodwillYou also need to consider consequences of profit maximization. If a company pursues a profit maximization strategy, it creates an environment where price is a premium and cutting costs is a primary goal. This, in turn, creates a perception of the company that could lead to a loss of goodwill with customers and suppliers; for instance, a company may win subsequent contracts with a client by bidding the first job low. It also creates an expectation of shareholders to see immediate gains, rather than realizing profits over time. Cash FlowFor all its drawbacks, profit maximization carries the big advantage of creating cash flow. When maximizing profit is the primary consideration, investments, reinvestments and expansions are typically tabled. The company simply makes do on what it has. This can create a more cost-efficient environment. In the mean time, the profits keep building, producing a healthy bottom line and increasing the firm's amount of available cash. Sometimes profit maximization is used entirely to create an influx of cash so the firm can reduce its debt or save up for expansion. Financing and InvestorsSome degree of profit maximization is always present. The goal of a company is to create profits. It has to profit from its business to stay in business. Moreover, investors and financiers in the company may require a certain level of profits to secure funds for expansion. Further, a company has to perform well for its shareholders; they expect a return on their investments. As such, maximizing that profit is always a consideration to some extent. ReferencesSan Jose State University Department of Economics; Is Profit Maximization the Proper Objective for Firms in a Market Economy?; Thayer WatkinsResourcesBlackwell Publishing; Understanding Financial Management; H. K. Baker and G. E. Powell; 2005About the AuthorRenee O'Farrell is a freelance writer providing valuable tips and advice for people looking for ways to save money, as well as information on how to create, re-purpose and reinvent everyday items. Her articles offer money-saving tips and valuable insight on typically confusing topics. O'Farrell is a member of the National Press Club and holds advanced degrees in business, financial management, psychology and sociology.Photo Creditsprofit image by Michael Shake from Fotolia.comMore ArticlesGraphic Ways to Depict Profit MaximizationThe Advantages & Disadvantages of the Beef Production IndustryLimited Liability Partnership Advantages & DisadvantagesAdvantages & Disadvantages of Using Computer Technology in Decision MakingAlso ViewedHow to Calculate Profit MaximizationThe Difference Between Profit & Revenue MaximizationAdvantages & Disadvantages of a Nonprofit StatusThe Advantages of Profit-Sharing PlansAdvantages and Disadvantages of a Marketing StrategyAdvantages and Disadvantages of StakeholdersRelated TopicsOther Finances & TaxesHow to Claim Taxes When You Open Your Own BusinessTaxes Payable vs. Payroll TaxesKey Tools for Planning FinancesHow to Write Off My Cellphone as a Business Expense on My Tax FormsSmall Business IndexPowered by Demand MediaLocalUS & WorldSportsBusinessEntertainmentLifestyleJobsCarsReal EstateThe Houston Chronicle is the premier local news provider for the country's 4th largest city.Currently the nation's sixth-largest newspaper, the Houston Chronicle is a multimedia company publishing print and online products in English and Spanish that reach millions of people each month. The Houston Chronicle is owned by the Hearst Corporation.Advertise With UsPurchase ads for web, social media, and print via Hearst Media ServicesPlace a classified ad in the paper or onlinePlace a targeted ad in a speciality section such as a weekly or neighborhood publicationSubscriber ServicesGet home delivery, manage your subscription, pay your bill with EZ Pay, and set a vacation hold for the paperLocal Business DirectoryAbout UsCorporate HomeAbout the Houston ChronicleCareersCommunityLegal NoticesContestsAd ChoicesContact UsCustomer ServiceNewsroom ContactsEditions & AppsiPadiPhoneAndroidBlackberryMobile WebsiteeEdition Demo | Today's eEditionChronicle in EducationChron.com Site IndexFollow ChronFacebookTwitterLinkedInNewslettersRSSMarch 4, 2012, marks the 125th anniversary of Hearst. The company has grown from a single newspaper in 1887, into one of the world's most admired private media and information companies with some 200 businesses in more than 100 countries. Learn moreTerms & Conditions | Privacy Policy | Ad ChoicesHouston Chronicle | P.O. Box 4260 Houston, Texas 77210-4260© Copyright 2012 Hearst Communications, Inc.
What government policies pursues the economic goal of freedom?
Protecting consumers from fraud <apex is gay>
What goals the government pursues in a socialist economic system?
equity
Which of these government policies pursues the economic goal equity?
Providing welfare benefits -apex
What government policies pursues economic goal of equity?
providing welfare benefits
Who Which government polices pursues the economic goal of equity?
protecting consumers from fraud
What government policy pursues the goal of equity?
providing welfare benefits
Similarities between public administration and business administration?
Public Administration is basically the development, implementation and study of different branches of the policies by the government. It pursues the public good by enhancing the civil society and the social justice. It deals with government and non-government organization. On the other hand, Business Administration is the performance or management of the operations of a business. It deals with organizing the human resource and the other resources available to the organization in an efficient manner so that goals and objectives can be achieved.
How does the aim of science differ from that of technology?
Science pursues knowledge for it's own sake. Technology pursues the application of that knowledge for practical purposes.
If a person is a philosopher he or she?
loves and pursues wisdom.
If a person is a philosopher he or she does what?
loves and pursues wisdom
Who pursues Moby Dick?
Captain Ahab.
What is independent internationalism?
Independent internationalism is a type of foreign policy. Its approach involves an isolated nation staying a world power while still following policies worldwide for its own benefit.
