Tutor profile: Brandon W.
How would you describe your idea of a perfect day?
I would sleep in until around 9am, spend another half hour laying in bed and preparing for my day. I get out of bed and beginning making my morning coffee and breakfast. I have a perfect view of the mountains and lake while I enjoy my scrambled eggs, toast with dark roast peanut butter and homemade strawberry jam, and my coffee. I pack a bag and go for a hike up the mountain. I have lunch around midday on the summit before making my return trek back down the mountain. I cook a fancy dinner for my partner consisting of salmon, potatoes, asparagus, and carrots. I pair it nicely with an oak-aged chardonnay, and enjoy my meal while watching the sunrise. I spend my evening reading dark fantasy novels, and head to bed for a good night's sleep.
What is the invisible hand within economics?
The invisible hand is an economic concept that individual self interest is the driving force of the economy and ultimately leads to the greatest economic good for society as a whole. Without intervention, every individual will act in their own self interest to maximize their utility, which ultimately leads to the economy as a whole maximizing social utility. This driving force is defined as the 'invisible hand' behind the market.
What is a Tax Treaty and why is it important?
A tax treaty is an agreement between two countries that is aimed at resolving double taxation of income issues that may occur when foreign investors invest in a domestic company. This is important because it sets guidelines to which countries receive the tax income and protects the investing party to encourage international investment and therefore development.