Response:
Increasing wages for workers will likely lead them to spend more money because with higher income, they may feel compelled to purchase additional items. Consequently, this benefits society overall; as people earn more, their spending rises, which, in turn, encourages more production to meet this demand, forming a cycle that renews itself.
I hope this is helpful!:)
Adam Smith is often recognized as the initiator of Capitalism, which is characterized by minimal government intervention; the more open and liberated the economy is, the more it aligns with his principles. One should aim for reduced governmental participation while promoting free enterprise to embody the essence of Capitalism.
Response:
2. & 3.
Clarification:
That’s my assumption; this question is somewhat subjective and depends on your curriculum, hopefully someone who has taken the course can provide a more informed response.
Objectivity refers to the ability to be unbiased when trying to achieve a goal through one’s actions. While I haven't personally focused on being objective during disputes, it seems crucial to listen to both sides thoroughly without appearing to favor one over the other. A neutral, third-party approach is ideal. While some individuals can be truly objective, many fail, especially if personal connections or biases come into play. Personally, I don't encounter many who maintain true objectivity.
