A reduction in the demand for labor caused by changes in technology, taxes, and competition is likely to result in structural unemployment.
What is structural unemployment. ?
Unemployment is when labor who are able to get jobs and are willing to work do not have jobs. The types of unemployment includes cyclical unemployment, frictional unemployment, structural unemployment and seasonal unemployment.
Structural unemployment is an unemployment that occurs as a result of changes in technology, polices or competition. Structural unemployment tends to be permanent. Frictional unemployment is the brief period a person is employed from when he leaves his current job and the time he gets another job. Voluntary unemployment is when a person does not have a job and pursues other things. e.g., the person goes back to school. Cyclical unemployment occurs as a result of fluctuations in the economy.
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when an account becomes uncollectible and must be written off allowance for doubtful accounts should be credited. accounts receivable should be credited. bad debt expense should be credited. sales revenue should be debited.
In accounting, when an account becomes uncollectible and must be written off, then, the accounts Receivable should be credited and debited to allowance for doubtful accounts.
What is an account uncollectible?
In accounting, an accounts uncollectible refers to those receivables, loans or other debts that have virtually no chance of being paid. Some account can become uncollectible for many reasons such as including the debtor's bankruptcy, an inability to find the debtor, fraud on the part of the debtor, lack of proper documentation to prove that debt exists. etc
The action that will be taken when an account becomes uncollectible and must be written off is explained as follows. Whenever the accounts to which a company makes credit sales default their payments at the maturity of the credit period, then, the amounts related to those accounts are written off in the income statement as a bad debt loss.
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What is a technique where a business offers a free basic product giving the customer an option to use an advanced version for a premium cost?.
Freemium pricing encourages users to subscribe to the paid, premium version in order to access additional features or selections after using the basic product or service for free. Potential clients receive knowledge about your business while getting a taste of what the good or service can achieve for them.
What is Freemium pricing?With freemium pricing, a company provides a version of its product or service with a restricted feature set while charging for one or more premium versions that come with more comprehensive feature sets.
The idea behind a freemium pricing model is that customers who take advantage of the product or service's free version would be satisfied with it or realize a need for it, leading them to eventually buy a paid version.
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econ 201 functions are often described as cause and effect in economics. in an economics function, if the variable is on the right-hand side and is doing the explaining, it represents ano ?
In an economics function, if the variable is at the right-hand aspect and is doing the explaining, it represents a effect.
The required details for variable in given paragraph
In programming, a variable is a price which could alternate, relying on situations or on statistics handed to this system. Typically, a application is composed of instruction s that inform the laptop what to do and information that this system makes use of whilst it's miles running. The information is composed of constants or constant values that in no way alternate and variable values . Usually, each constants and variables are described as certain information kind s. Each information kind prescribes and boundaries the shape of the information. Examples of information sorts include: an integer expressed as a decimal number, or a string of textual content characters, typically confined in length.
In item-orientated programming , each item includes the information variables of the class it's miles an instance of. The item's technique s are designed to address the real values which might be furnished to the item whilst the item is being used.
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going public proves precisely what a firm's true intrinsic value is, and going public also ensures that a highly liquid market will always exist for the firm's shares.
"Going public" establishes a firm's true intrinsic value and ensures that a liquid market will always exist for the firm's shares Publicly owned companies have sold shares to investors who are not associated with management.
Over the past few decades, the India Company's situation has immeasurably improved. A startling rate of growth has been observed in the number of Indian businesses. It has been noted that more and more foreign corporations are open to setting up shop in India. These international businesses are either entering India on their own, through partnerships, or by creating subsidiaries of other businesses.
More and more businesses noticed an improvement in the business environment as a result of the government's more liberalized standards and regulations. These have somewhat enhanced the credibility of the Indian corporate sector and had a favorable effect on the business climate in India. India Company appears to have a very bright future.
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Provide an example of how such agencies, in trying to help, have actually been harmful
[economics]
An example of how economic agencies have tried to help but instead been harmful has been by increasing the cost of living.
What has been a negative impact of economic agencies?Economics is a complicated subject because what works in theory can sometimes not work in reality. An example of this is the current rise in the cost of living that people around the world are experiencing.
Economic agencies such as the Fed and other central banks, have increased interest rates in a bid to get people to spend less and therefore reduce the cost of living. Instead, it has made the dollar stronger which has then made the cost of living higher as a stronger dollar means higher prices, and this has been harmful.
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elton and florida sign a contract by which elton agrees to deliver and install a utility sink on may 15 in exchange for florida's promise to pay the $150 price on may 15. the delivery and installation of the sink and the payment of the price are examples of
The delivery and installation of the sink the payment of the price are examples of concurrent conditions.
What is installation?
Installing an item in a permanent, temporary, or semi-permanent location is the general definition of installation. It may also be used to describe a finished product that has been installed. It frequently refers to placing equipment in place or connecting it for use in the context of construction. This can frequently be used to describe a system or unit along with any accompanying gatherings, accessories, parts, etc. Additionally, it may involve connecting to the services that are necessary for the installation to function. Installation drawings, which present the information required by trades to install a portion of the works, are created from coordinated detail drawings. This might be especially crucial for intricate installations like data centres, ventilators, underfloor heating, and plant rooms.
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an internal proposal is submitted to your own organization, while an external proposal is submitted to another organization. group of answer choices true false
An internal proposal is submitted to your own organization, while an external proposal is submitted to another organization. The given statement is true.
What is internal proposal?
A form of proposal used it to promote a project inside your company is an internal proposal. Once people think of proposals, those who frequently picture external ones that are sent to another organisation to secure work. Proposals, however, can also be used from within to describe a concept and how your business might benefit from it. Since you all work for the same company, some elements of an external proposal are not necessary inside an internal proposal. Many of the components in an external proposal are also present in an internal proposal. These consist of an introduction, historical context, project advantages, a description of the work as well as its outcomes, methods, timetables, and costs.
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true or false: the services that a real estate agent can provide include suggesting an asking price, making potential buyers and other agents aware of your home, and screening potential buyers to determine whether they will qualify for a mortgage.
The statement 'the services that a real estate agent can provide include suggesting an asking price, making potential buyers and other agents aware of your home, and screening potential buyers to determine whether they will qualify for a mortgage' is true.
A real estate agent is a person that helps to connect buyers of a property with the sellers of a property.
A real estate agent looks for potential buyers for a property. He might communicate with different agents for this purpose ad this outreach will help to connect with more potential buyers. He also asks the seller about the price at which he wants to sell the property and helps in finding out a buyer in that price range.
The real estate agent also looks into the details of potential buyers to check if they can qualify for a mortgage or not.
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multiple choice question auditors focus more on testing the of a company's blockchain processes and technology than on verifying the of its output. multiple choice question. accuracy/effectiveness records/changes effectiveness/risks effectiveness/accuracy
Auditors focus more on testing the records of a company's blockchain processes and technology than on verifying the changes of its output.
An auditor is a person or a company appointed by means of a organization to execute an audit. to behave as an auditor, a person have to be certified by the regulatory authority of accounting and auditing or possess sure specific qualifications.
The function of the auditor or reviewer is to present a professional and unbiased on these financial statements. The assessment or audit of an association's monetary document can ensure greater duty to the members and offer an warranty that all price range obtained by the employer had been efficaciously accounted for.
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computer equipment was acquired at the beginning of the year at a cost of $45,000 that has an estimated residual value of $2,700 and an estimated useful life of five years. (a) determine the depreciable cost $fill in the blank 1 (b) determine the double-declining-balance rate fill in the blank 2 % (c) determine the double-declining-balance depreciation for the first year $fill in the blank 3
10,500 by the Annual Straight Line Depreciable cost for Computer Equipment, which cost $45,000 at the beginning of the year and has an estimated residual value of $2,700, was purchased.
A) Depreciable cost = Cost - salvage value
=45000 -3000 = 42000
B) straight line rate = 1/ useful life = 1/4 = 25%
C) Annual straight line depreciation = Depreciable cost /useful life = 42000/4 = 10,500
The cost that can be subtracted from an asset over time is known as its depreciable cost or the foundation for depreciation. By deducting an asset's salvage value from its cost, the depreciable cost is determined.
An asset's worth after total depreciation up to that point has been charged is its depreciated cost. As a result, it indicates the value of an asset that still has to be used over its remaining life.
Original cost refers to the price residual value paid for the asset when it was purchased as well as additional costs incurred to get it up and running. In other words, the term "original cost" refers to the price paid for an asset at the time of purchase, as well as any depreciated cost additional costs such as installation costs.
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how would the security market line be affected, other things held constant, if the expected inflation rate decreases and investors also become more risk averse? (hint: textbook section 6-7b)
The y-axis intercept on the security market line would decline, and the slope would increase.
What is a security market line?
The security market line (SML) is known as the line drawn on a chart that serves as a graphical representation of the capital asset pricing model (CAPM)—which shows different levels of systematic, or market risk, of various marketable securities, plotted against the expected return of the entire market at any given time.
The SML, also referred to as the "characteristic line," is a representation of the CAPM, with the expected return on the y-axis and risk (measured in terms of beta) on the x-axis.
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the market for diamond rings is closely linked to the market for high-quality diamonds. if a large quantity of high-quality diamonds enters the market, then the
Diamond is a priceless gem stone that is used to create jewelry and other goods of a similar nature.
It is also used to make diamond rings, although there aren't very many of them on the market because they're so pricey and in high demand. As a result, diamond producers restrict their market supply.
Other choices are erroneous since diamonds are neither more or less frequent than other jewels on the market, their demand is not extremely high, and they are not subject to monopolistic competition.
We are aware that diamonds are used to make diamond rings. As a result, the cost to produce diamond rings increases as the price of diamonds increases. As a result, there are less diamond rings available.
Right-shifting supply curves for diamond rings will result in surplus at the going rate. jewelry As a result, the price will go down, which will raise demand and drive down supply. A lower price and more product will be available at the new market equilibrium.
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a test engineer is to conduct environmental testing but the chamber cannot hold all the equipment that needs to be tested. this is an example of a constraint that could impact the sequence and timing of activities in a project network. what type of constraint is it?
A test engineer is to conduct environmental testing, but the chamber cannot hold all the equipment that needs to be tested. this is an example of a constraint that could impact the sequence and timing of activities in a project network. it is physical type of constraint.
If sources aren't good enough to fulfill height demands, the overdue begin of a few sports ought to be delayed, and the length of the venture can be increased. This system is called useful resource-restricted scheduling. Linear programming. Linear sequence of programming (LP) refers to an own circle of relatives of mathematical optimization strategies which have proved powerful in fixing useful resource allocation problems, especially the ones discovered in commercial manufacturing systems.
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sun-jun relies on a cost-benefit analysis to decide if moving operations overseas is better than increaseing the size of the current manufacturing facility in the united states
He is using the utilitarian approach to ethics to determine his answer. Many companies now use specialized methods with a utilitarian foundation, such cost-benefit analysis and risk assessment.
One thing to keep in mind is that the theory is a type of consequentialism: the proper course of action is wholly defined in terms of the outcomes created. The extent of the pertinent consequences is what sets utilitarianism apart from egoism. According to the utilitarian perspective, one should maximize the good overall, which means taking into account both one's own good and the benefit of other.
Sun-Jun relies on a cost-benefit analysis to decide if transfer operations overseas is better than increasing the size of the current manufacturing facility in the U.S. He is using the Utilitarian approach to ethics to determine his answer.
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an auto repair shop faces the following weekly costs: rent, $500; labor, $400 per worker; parts and supplies, $50 per repair. each worker can repair 3 cars per week.
Based on the weekly costs to the auto repair shop, the total costs incurred if the auto repair shop repaired 3 cars per week would be $2,950.
How to find the total cost?If there are 15 cars to be repaired, then the total number of workers needed is:
= Number of cars / Number of cars per worker
= 15 / 3
= 5 workers
The total cost would then be:
= Fixed cost + (Parts and supply cost per repair x number of repairs) + (Cost of labor x Number of workers)
= 500 + (50 x 15) + (400 x 5)
= $3,250
The question is:
If the shop repairs 15 cars in a week, the total costs are $
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For an agreement to be a sale, title must pass at the time the agreement is made
It is a false statement that the title must pass at the time the agreement is made for an agreement to be a sale because in a sales contract, the title passes to the buyer at the time and the place the seller performs by delivering the good.
What is known as Contract of sales?In law, a contract of sale refers to the agreement between a seller and a buyer. Here, the seller will agrees to deliver or sell something to a buyer for a set price that the buyer has agreed to pay. With this, such transfer of ownership happens when the buyer pays and the seller delivers.
However, this contract does changes in situations where the seller cannot yet deliver the item that is sold, it also happens when the buyer cannot yet pay the full price. But both the parties can still agree on transferring the ownership to the person buying in these situations mostly, as long as such seller is ready to deliver what is being sold.
Full question "For an agreement to be a sale, title must pass at the time the agreement is made. True/False".
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list three implications of competitiveness and collaboration for this global company as portrayed in the scenario, providing supporting details in the notes.
Competitive and collaboration implications mainly involve:
involving or determined by rivalryagainst commercial rivals, the quality of the product should be high and the price must be low.having to do with or being marked by a competitive urge.The increase in corporate cooperation significantly affects competition. Contrary to popular belief, teamwork may foster rivalry. Most businesses collaborate for offensive goals rather than defensive ones. Instead of monopolizing markets and driving up prices, they want to experiment and learn. Working together with a rival can give you access to data, analytics, trends, and fresh resources that are advantageous to both parties. Together, we can find new sales prospects, encourage cross-selling, and plan marketing campaigns.
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wausau window and wall systems started this process with a commitment from the ceo that he and all other managers in the company would be trained in program fundamentals. using this problem-solving methodology, wausau relentlessly pursued higher quality and lower costs at its window trim plant. intensive analysis led to a redesigned workflow that improved productivity by 100%.
This process with a vow from the CEO that he and all other managers in the business would be taught in programme principles. a new workflow was created that increased productivity by 100%.
Wausau's window trim business steadfastly pursued improved quality and cheaper prices using a problem-solving approach. A revised procedure that tripled production was the result of thorough investigation. Can Six Sigmathe series of actions required to move from the start of a working process to its conclusionJust keep it simple, dude (KISS)It implies that you should write your code as simply as you can. One of the tenets of fundamental programming is to avoid getting bogged down in trying to be extremely clever or bragging with a big block of sophisticated code. If a script can be written in a single line, do so.To know more about Business and Programme , here
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banks can hold deposits at the federal reserve. balances in these accounts can be used by banks to meet their reserve requirements, but the fed pays no interest on these deposits. a. true b. false
The Federal Reserve will accept deposits from banks. The Fed does not pay interest on the balances in these accounts, but banks may utilize them to satisfy their reserve requirements. False
The American nation's central banking system is known as the Federal Reserve System. After a string of financial panics prompted the need for centralized supervision of the monetary system to prevent financial crises, it was established on December 23, 1913, with the passage of the Federal Reserve Act. regulating and monitoring financial organizations and activities. The Federal Reserve ensures the stability and safety of individual financial institutions and keeps an eye on their effects on the overall financial system. In the fields of finance and economics, interest is the payment made at a set rate by a borrower or deposit-taking financial institution to a lender or depositor in excess of the principal amount. Interest differs from a fee the borrower might pay the lender or another entity. There are three different kinds of interest: simple (regular), accumulated, and compound.
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which of the following critical factors in the prestart-up and start-up phases considers whether the venture should be classified as lifestyle, small profitable or high-growth? a. uniqueness b. investment c. growth of sales d. product availability
The critical factors in pre start -up and start-up phases is growth of sales
Option C is correct .
Sales growth is a measure of the change in profit over a fixed period of time. Comparing profit between two financial ages demonstrates the rate of growth – positive or negative, of a business.
What causes growth in sales?To increase sales you may have to introduce new products or services, expand your request, increase your marketing conditioning or ameliorate client service.However, this could mean adding your productivity to meet demand, If you're a manufacturer.
What's growth of sales creation?Sales creation tends to produce sharp and fast increase in sales of the brand. This still is opposed by the issue of short term and long term impact of the creation. In addition to that one issue that's worth agitating then's cost/ sales rate for advertising and creation.
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if the state of georgia agreed to purchase the cars assembled by kia motors in georgia, an fdi into georgia from south korea, it is a incentive
If the state of Georgia agreed to purchase the cars assembled by kia motors in Georgia, an fdi into Georgia from south Korea, it is a non-financial incentive.
Non-financial Incentive:
An individual also has psychological, social, and emotional requirements in addition to their wants for money and future security. Their motivation is largely influenced by how well these demands are met. Non-financial incentives, which cannot be valued in terms of money, are primarily concerned with meeting these demands.
There is a risk, nevertheless, that a certain non-financial incentive may simultaneously include a financial one. For instance, when a person is promoted, his psychological demands are satisfied because he gains more power and position, but at the same time, he also reaps financial rewards because of the increase in compensation.
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sheridan suppliers inc. purchased a 12-month insurance policy on march 1, 2020 for $3960. at march 31, 2020, the adjusting journal entry to record expiration of this asset will include a
The adjusting entry to record the expiration of this asset would include an insurance expense debit and a prepaid insurance credit of $330.
Here's how to calculate it:
Company insurance = $3960
The formula to calculate monthly insurance costs are
Monthly insurance cost = Company insurance : 12
Monthly insurance cost = $3960 : 12 = $330
Adjusting journal entries mean the entries in a company's general ledger that occur at the end of an accounting period to record unrecognized income or expenses for the period.
An example of an adjusting entry can be seen in the statement below:
Company insurance is $1800 for a year (paid on January 1). The company has not used these prepaid expenses in the current accounting period, as indicated by the adjusting entry in the account. Monthly insurance costs are 1800/12 months = $150 per month.
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one of the advantages of e-commerce is that it: group of answer choices a. improves customer service. b. is a universally accepted system. c. guarantees privacy and security of buyers. d. is highly accessible throughout the world.
One of the advantages of e-commerce is that it is highly accessible throughout the world. Thus, option D is the correct answer.
E-commerce has many advantages like it is cost-effective, affordable, time saving, fast responding, service. Consumers from all over the world has an advantage over e-commerce. They can compare various sources to buy a single product. They receive a wide range of product list in order to purchase it.
Ecommerce describes companies and people who buy and resell products and services online. E-commerce operates in a range of market areas and can be done on computers, tablets, cellphones, and other smart devices. Nearly any product or service imaginable is now available through e-commerce transactions, including books, music, airline tickets, and financial services like stock trading and online banking.
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1) imagine an economy with the following set of assumption: 1) there is only one good in the economy that is consumed for two periods: x1 and x2 2) two (groups of) individuals: individual a and individual b 3) utility function of individual a: ????????(????1????, ????2????)
The joy or pleasure that consumers derive from purchasing a commodity or service is known as utility in economics. A set of products and services are measured using the utility function.
As per the question the utility function of individual A=
UA(X1A + X2A)= logX1A+ logX2A
And the utility function of individual B=
UB(X1B + X2B) = logX1B + logX2B
here the utility coefficient beta responsible for risk taking capability.
U'A= 1/. X1A + B*1/. X1B
U''A=Beta ............ So when U''A= Beta , the utility function will risk taking Convex function
when b<0, the utility function will risk avarse Concave function
when b=0 the utility function will be risk neutral linear function
The benefit or enjoyment that consumers experience is abstract and challenging to quantify, but utility function is quantified in units called utils—the Spanish word for useful. As a result, economists gauge utility by looking at customer decisions in terms of disclosed preferences. The utility function ordering of consumption baskets from least liked to most favored is then created by economists.
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The complete question is
Imagine an economy with the following set of assumption:
1) There is only one good in the economy that is consumed for two periods:X, and X2
2) Two (groups of) individuals: Individual A and Individual B
3) Utility function of Individual A: UX(X1X,X2A) = logX1A + B^logX2A
4) Utility function of Individual B: UR(X18, X2R) = logX1g + bBlogX2g
5) Individuals have period 1 endowment (e1,e) = (40,20)
6) Individuals do not have any endowments in period 2. Instead, in period 1, they own shares of the company that will produce the consumption good in period 2. One share of the stock is a claim to 1 unit of consumption good to be produced in period 2. The company will produce 40 units of good in period 2 and the current ownership of the firm is as follows:
(A,B) = (15,25)
7) Individuals can trade shares in period 1. The relative price of the share is Te.
chegg the way apple has combined some of its tangible (e.g., financial resources and research laboratories) and intangible (e.g., scientists and engineers and organizational routines) resources to complete research and development tasks creates a
Resources to complete research and development tasks creates a core competence in innovation.
An intangible asset is a resource that has no physical presence but still has long-term financial value to a company or business. Intangible assets are intellectual property owned by a company that can be used to generate value for the business over time. You can determine that an asset has long-term financial value if you expect its value to last for at least a year or more.
Even if you can't physically see or touch an intangible asset, it can still have a significant impact on business value. For example, a well-known brand is an intangible asset that can increase a company's net worth by increasing the reach of the target audience and increasing sales.
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a grid that combines an employee's performance rating with his or her position within a pay range so as to determine the size and frequency of pay increases is known as the blank grid.multiple choice question.merit increaseprofit-sharingoutcome-orientedagency theory
Increase profit-based compensation is a system for profitable personnel financially, out of doors in their ordinary salaries.
Examples include spot bonuses (where personnel is rewarded “immediately” for achievements that deserve a unique reputation), project bonuses (in which personnel is rewarded for the successful completion of an assignment), and retention bonuses (normally provided to lengthy-tenured personnel to encourage retention).
Benefit pay increases, or benefit bonuses, growth a worker's base pay due to their high overall performance.
They're commonly budgeted for and given on an annual basis.
Advantage-based totally will increase are the maximum not unusual form of overall performance-based compensation.
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Technical sales, inc. Has 6. 6 percent coupon bonds on the market with 9 years left to maturity. The bonds make semiannual payments and currently sell for 92. 5 percent of par. What is the effective annual yield?.
Has 6. 6 percent coupon bonds on the market with 9 years left to maturity.
For computing the effective annual yield, first we have to compute he rate of interest by applying the RATE formula that is shown in the attachment
Provided that Has 6. 6 percent coupon bonds on the market with 9 years left to maturity.
Present value = $1,000 × 98.6% = $986
Assuming figure - Future value or Face value = $1,000
PMT = 1,000 × 6.6% ÷ 2 = $36
NPER = 11 years × 2 = 22 years
The formula is shown below:
= Rate(NPER;PMT;-PV;FV;type)
The present value come in negative
The rate comes is 3.69%
Now the effective annual yield is
= (1 + rate)^number of period - 1
= (1 + 3.69%)^2 -1
= 6.52%
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the adams family is financing their loan through acme bank and their agent negotiated a great sales price on their new home. smith title company processed the loan documents. the adamses must purchase mortgage insurance. who does the insurance protect?
He can work with mortgage lender to get a construction loan. Since the buyer might not be eligible for conventional loans and the seller may be able to collect interest, both the buyer and financing the seller.
The deed of trust, which adds your name to the mortgage and releases the original borrower from all responsibilities under the agreement, assuming a novation, is the most crucial document in the loan assumption procedure. financing The final documents must be signed by all parties. If certain conditions are not met, a lender may demand a borrower to return the entire amount of the loan under the terms of an acceleration clause or covenant. Deeds of trust are widely used in states where nonjudicial foreclosures are common. mortgage If the deed of trust has a power of sale clause, the lender may foreclose without going to court. All first mortgages are insured by the FHA. Secondary financing is not permitted. 2: Currently, the down payment needed to buy a home for $160,000 with VA financing is: There is no down payment necessary for approved VA loans. Mortgage-backed securities allow lenders to package loans for sale across the nation, enabling borrowers in low-income areas to be approved for loans.
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products, which are products or services that have been standardized for all markets, are becoming increasingly important in international marketing efforts.
Global products, which are products or services that have been standardized for all markets, are becoming increasingly important in international marketing efforts.
In simple terms, the notion of global marketing is a marketing strategy that is carried out and followed by many countries in the world. So global marketing is an economic activity, namely buying and selling products in the global market carried out by the world community.
Some of the benefits of global marketing that can be obtained, among others:
Economic Growth, the first benefit of global marketing is that a country's economic growth will increase.Can Improve Competence of Business Actors, the next benefit of global marketing is that it can increase the competence of business actors who run it.Produce More Quality Products, another benefit of global marketing is that it will produce quality products.Survival and Job Opportunities, the point is that global marketing is useful in meeting people's basic needs and can create opportunities for a better life.You can learn more about global marketing here brainly.com/question/1528741
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a homeowner will paint her house if the private —increased property value, a nicer looking home—outweigh the private (such as the time and money required to paint the house or pay someone else to do it).
A homeowner will paint her house if the private benefits increased property value, and a nicer-looking home outweighs the private costs (such as the time and money required to paint the house or pay someone else to do it).
The advantage received by a person or organization who is directly involved in a transaction, either as a buyer or a seller, is known as the private benefit. The utility is a way of expressing the consumer's private benefit, whereas profit is a way of expressing the firm's private gain. Private benefits typically reward workers with higher pay, better insurance coverage, more time off, and bonuses.
Private costs are those that are borne by the company or the consumer and must be considered in the production and consumption choices. Exclusively if there are no external costs in a market where prices are competitive will focusing only on private costs results in a rate of output that is socially optimal.
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The complete question is:
A homeowner will paint her house if the ________ benefits-increased property value, a nicer looking home-- outweigh the _______ costs (such as the time and money required to paint the house or pay someone else to do it).