Explain the logic of mercantilism and why it is generally viewed as a deficient theory.
What will be an ideal response?
Answers may vary, but mercantilism traditionally has been interpreted as an economic philosophy that viewed the accumulation of precious metals as an activity essential to a nation's welfare because these metals were, in the mercantilists' view, the only source of wealth. As a result, the government established economic policies that promoted exports and stifled imports, resulting in a trade surplus and protection of jobs in the mercantilist nation. Mercantilist behavior tended to be costly to groups including consumers and some emerging industrialists, and to raise the potential for retaliatory efforts by other governments who encounter trade deficits due to the policies of the mercantilist nation.
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Gwen's job as an accounting assistant was recently modified to include reconciling of bank accounts and delivering checks to the bank, two tasks previously done by the accounting manager. This increase in responsibility would best be described as
A. job development. B. job enlargement. C. job satisficing. D. job design. E. vertical loading.
For which of the following should you use the direct strategy?
A. negative responses to inquiries and requests B. refused claims C. persuasive messages D. none of these
For years one through five, a proposed expenditure of $500,000 for a fixed asset with a 5-year life has expected net income of $40,000, $35,000, $25,000, $25,000, and $25,000, respectively, and net cash flows of $90,000, $85,000, $75,000, $75,000, and $75,000, respectively. The cash payback period is 5 years
Indicate whether the statement is true or false
The best place in a SWOT analysis to identify problems with hurricanes, earthquakes, major snowfalls, and other natural phenomena is ________.
A. internal opportunities B. external threats C. external opportunities D. internal weaknesses E. internal strengths