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Author Question: Jillian earned 10 per hour as gallery assistant. This money represents her a. income. b. wealth. ... (Read 28 times)

appyboo

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on: Jul 2, 2018
Jillian earned 10 per hour as gallery assistant. This money represents her
 
  a. income.
  b. wealth.
  c. earning potential.
  d. net worth.

Question 2

Discuss the basic tenet of capitalism and how it affects the persistence of poverty.
 
  What will be an ideal response?


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jazzlynnnnn

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Reply #1 on: Jul 2, 2018
Answer to Question 1

Answer: a. income

Answer to Question 2

Feedback: The basic tenet of capitalism is that who gets what is determined by private profit rather than by collective need. The primacy of maximizing profit works to promote poverty in several ways. (1) Employers are constrained to pay their workers the least possible in wages and benefits. (2) The primacy of profit induces poverty by maintaining a surplus of laborers, because a surplus depresses wages. (3) The impact of the primacy of profits in capitalism is that employers make investment decisions without regard for their employees (potential or actual).


appyboo

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Reply 2 on: Jul 2, 2018
Excellent

ryhom

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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