Answer:
False would be your answer :)
Which of the following statements describes a perfectly inelastic demand? A. The government is promoting generic drugs that are much cheaper. B. I prefer taking the subway to work rather than driving because of high fuel prices. C. A large number of youngsters buy roses from Colombian rose-growers before Valentine's Day. D. Walgreens does not find any change in the number of people buying chlorthalidone after a 7 percent rise in its price.
Answer:
B. I prefer taking the subway to work rather than driving because of high fuel prices.
Explanation:
I prefer taking the subway to work rather than driving because of high fuel prices describes a perfectly inelastic demand.
"Walgreens does not find any change in the number of people buying chlorthalidone after a 7 percent rise in its price" This statement describes a perfectly inelastic demand. Option D. is correct.
Perfectly inelastic demand is a situation in which the quantity demanded of a good or service does not change at all, regardless of the price. This means that even if the price of a good or service rises or falls, the quantity demanded will stay the same.
In the statement, Walgreens does not find any change in the number of people buying chlorthalidone after a 7 percent rise in its price. This suggests that the demand for chlorthalidone is perfectly inelastic.
So. D. is the correct option.
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The _________________ is the difference between money flowing into a country from exports, and money leaving the country for imports, plus more ey flows coming from other factors such as tourism, foreign aid, military expenditures, and foreign investment.
The "BALANCE OF PAYMENT" is the difference between money flowing into a country from exports, and money leaving the country for imports, plus more ey flows coming from other factors such as tourism, foreign aid, military expenditures, and foreign investment.
Managing diversity isA. Recognizing the characteristics common to specific groups of employeesB. Dealing with employees as individualsC. Supporting, nurturing and utilizing employee differences to the organization's advantageD. All of the above
Answer:
The answer is (D) all of the above.
Explanation:
Managing diversity is a workplace practice where companies focus their efforts in establishing a working environment where people with various demographic characteristics can thrive and perform to their fullest potential according to their work responsibilities. This means employers, more specifically, the human resources department, need to pay attention to the individuals’ background in order to create a work environment that is fair to each individual.
Qualitative factors that should be considered when evaluating a make-or-buy decision area. the quality of the outside supplier's product.b. whether the outside supplier can provide the needed quantities.c. whether the outside supplier can provide the product when it is needed.d. All of these.
Answer:
d. All of these.
Explanation:
A term commonly used in companies, specifically in pre-planning new releases, and involving the Purchasing area, is the famous "MAKE OR BUY." Briefly, "Make or buy" refers to the assessment to decide if the company has the components that are used in your product, or whether it will need to purchase those components from an outside supplier. If the company decides to compare the components by an external supplier, it must analyze some interesting aspects in relation to the suppliers, as:
the quality of the outside supplier's productwhether the outside supplier can provide the needed quantitieswhether the outside supplier can provide the product when it is neededWhich of the following statements is true for companies that employ cost strategies? They focus on high-quality production rather than efficient production. They are very specific in the skills they require from their employees. They shy away from investing in training employees in the skills they need. They seek greater creativity by providing broader career paths to employees than companies that employ differentiation strategy. They encourage their employees to take greater risks.
hold on i need todo the math
Fred Sweet runs dancing classes for middle-aged and elderly people. Some of Fred's customers lack physical coordination, and injuries from kicks, falls, etc. are common. Fred naturally fears that injured customers will sue him for negligence. Thus, he makes each customer sign a written contract containing a clause relieving Fred of all liability for injuries suffered during his dancing classes. However, fearful that he will lose business if potential customers become aware of his strategy, Fred states the clause in fine print and doesn't point it out to them. An injured customer sues Fred in negligence. Fred wants to defend on the basis of the clause in the contract. Which of the following is the biggest weakness in Fred's position? A. That Fred tried to use an exculpatory clause at all, because such clauses are invalid on public policy grounds. B. That Fred tried to use an exculpatory clause to relieve himself of negligence liability. C. That Fred has superior bargaining power, which makes the customer's acceptance of the exculpatory clause involuntary. D. That Fred used a fine-print exculpatory clause, which means that the customer lacked knowledge of the clause's existence
Answer: the correct answer is D. That Fred used a fine-print exculpatory clause, which means that the customer lacked knowledge of the clause's existence.
Final answer:
Fred's biggest weakness is using a fine-print clause that the customer didn't know about, weakening its enforceability.
Explanation:
The biggest weakness in Fred's position is: D. That Fred used a fine-print exculpatory clause, which means that the customer lacked knowledge of the clause's existence. This lack of disclosure could render the clause unenforceable in court due to the unequal bargaining power and lack of informed consent. Moreover, exculpatory clauses cannot relieve an individual of liability for gross negligence or intentional acts. While some states may enforce exculpatory clauses to an extent, these clauses are generally looked upon unfavorably, especially when there is an imbalance in bargaining power or a disparity in the provision of information, as described in the concept of adverse selection.
Home expenses can be divided into which two categories
Final answer:
Home expenses are broadly categorized into fixed expenses, which remain constant each month, and variable expenses, which can fluctuate. These include regular payments like mortgage or rent, and varying costs like utilities and food. Budgeting for these expenses is crucial for managing household finances effectively.
Explanation:
Home expenses can typically be divided into two primary categories: fixed expenses and variable expenses. Fixed expenses are those regular monthly bills that tend to stay the same, like rent or mortgage payments, insurance, and property taxes. On the other hand, variable expenses can fluctuate from month to month, such as the cost of utilities (like the power bill and heating bill), food consumption (both food at home and food away from home), and the costs associated with unexpected repairs and maintenance.
Following the data from the Consumer Expenditure Survey by the U.S. Bureau of Labor Statistics in 2015, the average U.S. household spent a significant portion of their budget on housing-related expenses. It is important to manage these costs effectively by creating a family budget that accounts for both fixed and variable expenses, ensuring that there is an understanding of how much money is needed each month for essential expenditures and how much can be allocated to discretionary spending or saving for the future.
Noelke Industries had a Raw Materials Inventory account balance of $27,388 on June 1. During the month of June, Noelke had the following transactions: 1. Purchased $345,000 of lumber. 2. Purchased $184,000 of steel. 3. Spent $1,867 on freight charges. 4. Received a credit of $3,450 for their lumber order. 5. Returned $6,430 of flawed lumber. 6. Used $353,000 of lumber. 7. Used $181,000 of steel. What is the balance of the Raw Materials Inventory account on June 30?
Answer:
this is messing with my brain lol but i got -493,579?
Explanation:
Davison Company determined that the book basis of its net accounts receivable was less than the tax basis of its net accounts receivable by $800,000 due to a difference in the allowance for bad debts account. This basis difference is characterized as: A. Deductible temporary differenceB. Taxable temporary differenceC. Favorable permanent differenceD. Unfavorable permanent difference
Answer: the correct answer is A. Deductible temporary difference
Explanation:
The future tax deduction created by the write-off of bad debts will create a future tax benefit and will be recorded on the balance sheet as a deferred tax asset.
Which of the following is a primary concern of top managers? a)Supervising nonmanagerial employees b)Deciding which goods a company should produce c)Supervising first-line managers d)Developing and fine-tuning employee skills e)Training, motivating, and rewarding salespeople.
Your question asks what is a primary concern for Top managers.
Answer: B). Deciding which goods a company should produceThe reason why answer choice "B). Deciding which goods a company should produce" is the correct answer is because this is a concern that top managers mostly focuses on.
Top managers are on top of the rankings in an organization, they have a lot of power to make decisions. Of course, top managers want to best for their company, therefore they need to figure out what the company is going to produce. Top managers have the power to choose what goods a company should produce, and that's the reason why it's their primary concern.
They need to make sure that the item that they chose the company to produce will bring back revenue and profit. If a business produces a good and it doesn't sell well, then the company will go out of business. This is why deciding which goods they should produce is a top managers primary concern,
I hope this helps!Best regards, MasterInvestorThe statement that serves as the primary concern of top managers is Deciding which goods a company should produce.
A manager in an organization must be able to coordinate team in achieving the organizational goals.
One of his concern should be able to decide on which goods a company should produce.
Therefore, option B is correct.
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Saeed needs money to purchase tools, basic office supplies, parts to refurbish equipment, accounting software, and legal help fees. Believing Saeed's business will be a success, an investor invests $5,000 to help Saeed open his business. In return, Saeed agrees to repay the investor the $5,000 plus 17 percent of the profits of the business. Calculate the return on investment for the investor if Saeed's business makes $7,000 in profit as a total return of the business in its first year.
Answer:
The return of investment for the investor if Saeed's business makes $7000 in profit in its first year is $6190.
Explanation:
Saeed agrees to repay the investor the $5000 plus 17 percent of the profits of the business. This can be represented by this equation.
Return of investment for the investor= initial investment+ (percentage of profits X profit)
When we fill in our known numbers, this is the equation. Remember, the profit for the first year was $7000.
Return of investment for the investor = 5000 + (.17 X 7000)
Return of investment for the investor = 5000 + 1190
Return of investment for the investor = $6190
Henry Crouch's law office has traditionally ordered ink refills 7070 units at a time. The firm estimates that carrying cost is 4545% of the $1212 unit cost and that annual demand is about 245245 units per year. The assumptions of the basic EOQ model are thought to apply. For what value of ordering cost would its action be optimal? a) For what value of ordering cost would its action be optimal? Its action would be optimal given an ordering cost of $nothing per order (round your response to two decimal place
Answer:
69.69 is a fun number to answer with
Which of the following people displays a learner mind-set?Natasha walks away when someone says something she disagrees withSam, a factory worker, declares that executives have no idea what real work isEmilie declares in a meeting that there is only one correct procedure to followDuring a department meeting, Sasha reminds people that disagreements are normal
Sasha reminds people that disagreements are normal. She is open minded
Sasha shows a learner mindset, characterized by openness to disagreement and continuous self-improvement, in contrast to the fixed mindsets observed in the others.
Explanation:The person who displays a learner mindset from the given examples is Sasha. A learner mindset is characterized by openness to new opinions, the ability to handle disagreements and disputes, and continued self-improvement for growth. In contrast, the rest do not demonstrate a learner mindset: Natasha avoids confrontation and doesn't seem open to hearing conflicting views; Sam sets rigid boundaries between hierarchy levels, assuming an unbridgeable gap in understanding; and Emilie believes in a single 'right' way, possibly hindering innovation.
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Account balances at the beginning of the year were: accounts receivable, $150,000; and inventory, $260,000. All sales were on account. Assume that Castile Products, Inc., paid dividends of $3.75 per share during the year. Also assume that the company’s common stock had a market price of $73 at the end of the year and there was no change in the number of outstanding shares of common stock during the year. Required: Compute financial ratios as follows: 1. Earnings per share. (Round your answer to 2 decimal places.) 2. Dividend payout ratio. (Round your intermediate calculations to 2 decimal places. Round your percentage final answer to 2 decimal places.) 3. Dividend yield ratio. (Round your percentage answer to 2 decimal places.) 4. Price-earnings ratio. (Round your intermediate calculations and final answer to 2 decimal places.) 5. Book value per share. (Round your answer to 2 decimal places.)
Answer: That class ain't for you vro.
Explanation:
Theresa has a contract to teach eighth grade at Washington Middle School. She decided she could make more money writing a book, so she assigns her teaching contract to her friend, Stephanie, who is also a licensed teacher. The duties under the teaching contract:a. The duties under the teaching contract are nondelegable.b. The duties which Theresa has attempted to delegate are personal in nature.c. If the school district agrees to accept Stephanie's services, a novation would occur, which would relieve Theresa of her obligation to the school district.d. All of the above are correct.
Final answer:
The duties under the teaching contract are nondelegable, personal, and a novation would occur if the school district agrees to accept Stephanie's services, which would relieve Theresa of her obligation. Option d.
Explanation:
The situation described with Theresa and Stephanie involves legal principles related to employment and contract law within the education sector. We can assess the scenario based on those principles, particularly around the assignment and delegation of contract duties, as well as the concept of novation.
Nondelegable duties often exist in contracts that involve highly personalized services. In the case of a teaching contract, the services are typically considered personal because they are based on the unique skills, qualifications, and certifications of the hired teacher.
Given that teaching positions usually require specific credentials and bear personal responsibility for student outcomes, the duties under the teaching contract being delegated by Theresa are certainly personal in nature, which makes the delegation potentially problematic without consent.
However, if the school district agrees to accept Stephanie to fulfill Theresa's contract, a legal concept called novation would occur.
Novation is the substitution of a new contract in place of the old one, with the consent of all parties, and would relieve Theresa of her prior obligations to the district as Stephanie effectively becomes the new contracting party.
Therefore, the correct answer is d. All of the above are correct. The duties are nondelegable, personal in nature, and novation would relieve Theresa of her contractual obligations upon agreement of the school district. Option d.
Which of the following post-deployment duties are performed by the field sanitation team?Select all of the correct answers from the options below.Immediately restocking field sanitation materials upon the return to the home stationPreparing an after action review for the chain of commandEnsuring the unit has the required personal hygiene supplies and equipmentProvide support to the unit leaders to complete medical surveillance reports
Answer:
Immediately restocking field sanitation materials upon return to to the home station.
Ensuring the unit has the required personal hygiene supplies and equipment.
Provide support to the unit leaders to complete medical surveillance reports.
Explanation:
The FST is the team that helps the commander to ensure the health of his soldiers.
It does all this by advising him/her on matters concerning the reduction of injuries outside battlefield. They also train all the personnel on health matters.
The problem or opportunity that requires a business decision on the part of the decision maker is called a _____. management dilemma research problem challenge measurement approach return on business investment
Answer:
A. management dilemma
Explanation:
The problem or opportunity that requires a business decision on the part of the decision maker is called a management dilemma.
The problem or opportunity that requires a business decision on the part of the decision maker is called a management dilemma .
What is management dilemma?
Management dilemma is the problem or opportunity that has emerged and requires to be resolve through a business decision. Management dilemmas are usually as a result of rising costs, high turnover rates, increasing negative perception, and reduced sales.
Dilemma management is the process of addressing complicated problems and resolving them in a systematic manner. To do this, it is important to keep the following dilemma management framework in mind.
Dilemmas can stem from a lack of foresight and preparation or from something completely out of your control. The original dilemma opposed to the modern dilemma is the controversy of freedom.
The correct answer is management dilemma.
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Jill graduated with an MBA during a severe economic recession. She accepted a job as a trainer for a major national bank. Jill was one of the top candidates when she was hired by the bank. Three months into her job, she feels that the individual bank customers are not valued, and that the bank engages in misleading advertising. This is an example of _____. a. poor person/organization fit b. a realistic job preview c. negligent hiring d. a snap judgment
Your question asks which answer choice best describes the experience that Jill went through.
Answer: A). poor person/organization fitThe reason why answer choice "A). poor person/organization fit" would be the correct answer because this is specifically describing Jill's experience at the bank.
Top national banks in the world tend to have the concepts of "not really valuing customers" and has "misleading advertising"--they do this because they need business, and it would also be called "tactics" in order to get customers to choose their bank. Most banks wouldn't be very successful if they didn't use tactics like that, but Jill is seeing how the "tactics" are in her job.
It's an example of a poor person/organization fit because Jill is not fitting in to what the organization is doing in order to get business, and all it is at the end of the day is business. The bank is doing it from a "business perspective", but Jill thinks otherwise. Therefore, she isn't really fitting in to the organization and their plans of making business.
I hope this helps!Best regards,MasterInvestorJill's experience at the bank represents a poor person/organization fit, as her values do not align with those of the organization.
Jill's situation, where she feels the individual bank customers are not valued and that the bank engages in misleading advertising, is an example of poor person/organization fit. Person-organization fit refers to the degree to which an individual's values, personality, goals, and other characteristics align with those of the organization. Given that Jill was one of the top candidates when she was hired by the bank, it's not likely that her discomfort is a result of negligent hiring or a snap judgment by the bank. Instead, the mismatch between Jill's expectations and the bank's practices suggests a lack of person-organization fit, irrespective of a realistic job preview or not.
Mr. Drucker uses a periodic review system to manage the inventory in his dry goods store. He likes to maintain 15 sacks of sugar on his shelves based on the annual demand figure of 225 sacks. It costs $2 to place an order for sugar and costs $1 to hold a sack in inventory for a year. Mr. Drucker checks inventory one day and notes that he is down to 9 sacks; how much should he order?
Mr. Drucker should order 6 sacks of sugar to replenish his inventory to the desired level of 15 sacks as he currently only has 9 sacks.
Mr. Drucker is aiming to maintain an inventory of 15 sacks of sugar, but he currently has only 9 sacks. To return to his desired inventory level, Mr. Drucker should order the difference between his desired inventory level and his current inventory.
The calculation is as simple as subtracting the current inventory from the desired inventory: 15 sacks (desired) - 9 sacks (current) = 6 sacks (to order).
Therefore, Mr. Drucker should order 6 sacks of sugar.
The purpose of safety stock is to: A. eliminate the possibility of a stockout. B. control the likelihood of a stockout due to variable demand and/or lead time. C. eliminate the likelihood of a stockout due to erroneous inventory tally. D. protect the firm from a sudden decrease in demand. E. replace failed units with good ones.
Your question asks what the purpose of a safety stock is.
Answer: B). control the likelihood of a stock out due to variable demand and/or lead time.The reason why answer choice "B). control the likelihood of a stock out due to variable demand and/or lead time" is the correct answer because companies have safety stocks to control the chances of having a stock out.
Safety stocks are also known as a "reserve" for a company, in other words, stocks that a company doesn't touch. It's to ensure that companies don't go through a time where there's an increase in demand while there is a "delay" in production.
If a companies stock demand goes up, but then they can't "produce" the amount that is needed to meet the demand, then they will go through "stock out" and have to go through what is called "stock out costs."
Safety stocks are also known as a "rainy-day" stock, due to the fact that safety stocks are used when a company are not having a great day with the "demand" / "value" of their stocks. It's just to "ensure" / "keep the company safe" from a huge stock out.
I hope this helps!Best regards, MasterInvestorSafety stock in inventory management is used to control the likelihood of a stock out due to variable demand and/or lead time. It serves as a buffer against unexpected demand fluctuations or supply delays, preventing situations where quantity demanded exceeds quantity supplied.
Explanation:The purpose of safety stock in inventory management is primarily to control the likelihood of a stockout due to variable demand and/or lead time (option B). Safety stock acts as a buffer to ensure that unexpected fluctuations in demand or delays in restocking do not result in stockout situations, where the quantity demanded exceeds the quantity supplied, leading to potential loss of sales. For example, if the demand for a product suddenly increases or if there is a delay in supply, safety stock helps prevent a shortage situation. However, maintaining safety stock also involves extra costs for storage and potential obsolescence.
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Mary goes to a stockbroker, purchases 50 shares of a certain stock, and instructs the broker to register the stock in her husband Warren's name. If this stock is intended as a Valentine's Day gift, Warren becomes a(n):a. donee beneficiary.b. transferee.c. delegatee.d. assignee.
Answer: the correct answer is a. donee beneficiary
Explanation:A donee beneficiary is a type of intended third-party beneficiary. Donee beneficiaries occur when the second party in a contract (the promisee) does not owe a debt to the third party but wants to provide them with the benefit of the performance of the first party (the promisor).
Diggity Dank Corporation uses an activity-based costing system with two activity cost pools. Diggity Dank uses direct labor hours as the measure of activity in the first activity cost pool and the number of orders in the second activity cost pool. The following information relates to these two activity cost pools for last year: What was Diggity Dank's under- or overapplied overhead for last year?
A. $17,000 overapplied
B. $20,000 underapplied
C. $27,000 underapplied
D. $73,000 overapplied
Answer:
it is c I guessed that I hope its right
A manufacturer of tiling grout has supplied the following data: Kilograms produced and sold 310,000 Sales revenue $ 1,940,000 Variable manufacturing expense $ 959,000 Fixed manufacturing expense $ 264,000 Variable selling and administrative expense $ 357,000 Fixed selling and administrative expense $ 230,000 Net operating income $ 130,000 The company's contribution margin ratio is :
Answer:
contribution margin ratio 36,9588%
Explanation:
sales $1.940.000,00
variable manufacturing expenses $959.000,00
variable selling and administrative epxense $264.000,00
total variable cost $1.223.000,00
contiribution margin $717.000,00
contribution margin ratio 36,9588%
The fixed cost are not involve in the calculations for the contribution margin or the contribution margin ratio.
So it is highly important to use the net value of sales and do not put any fixed cost inside the calculation as well as not leave any variable cost out!
Contribution Margin = Sales Revenue - Variable Cost
On Unit level, this means how much gross profit each unit generates.
A negative contribution margin means the product is unviable and the price must go up or the company must take the endeavor to decrease its cost as soon as possible. If neither of both options is possible, then the company will cease production in the short or long run, because it will be losing money for just doing the product.
A positive number means the product can cover variable costs with revenue from sales.
On a company level, this will be the amount left to cover fixed expenses and to make earnings.
The contribution margin is Dollar measurement!
Contribution Margin Ratio
Contribution Margin Ratio = Contribution Margin / Sales
It could be read as cents per unit of sale or, in a better way, as the percent of the sales volume that's left over to cover the fixed cost.
Because of this, it is used to calculate the break-even point in dollars:
break-even point = fixed cost / contribution margin ratio
The contribution margin ratio is percent measurement!
If you want to go directly to a specific web page using a URL, where should you type the URL in Firefox? A. In an e-mail B. In a Google account C. In the address bar D. In the username field Please select the best answer from the choices provided A B C D
Answer:
C) In the address bar
Explanation:
This is the only place where URL's may be found or entered in to successfully get to a web page.
The address bar is the place where you may go for specifying the web page using a URL.
What is an address bar ?The address bar is the locational bar or is the URL Place and it shows us the current URL. The bar is used for navigating and choosing a website the bar that consists of the non URLS is automatically sent to the search engines. They offer features like the autocompleted list of suggestions. They can be seen in browsers.
Find out more information about the URL.
brainly.com/question/25376170.
Millennial employees are of great interest to organizations today. Millennials are the most educated generation in the history of the United States and grew up technologically adept and globally conscious. Which of the following are characteristics of work environments that appeal to Millennials? Check all that apply. a. Traditional work environments. b. Independent task environment. c. Access to cutting-edge technology. d. Opportunities to learn.
Answer:
The answers are independent task environment, access to cutting-edge technology, and opportunities to learn.
Explanation:
Millennials are a group of individuals of a generation commonly starting from 1980s to early 2000s. These people are also called Generation Y. They are thought to have different working aspirations, preferences, and style compared to the previous generations. Thus, many researchers and consultants alike advocate for a different way in managing them as well.
_____ provides historical, current, and predictive views of business operations and environments and gives organizations a competitive advantage in the marketplace.Business intelligenceBusiness differentiationBusiness explorationBusiness indexing
Hello There!
"Business Intelligence" provides historical, current, and predictive views of business operations and environments and gives organizations a competitive advantage in the marketplace
Which of the following most accurately describes an annuity? A. a series of unequal cash payments made at equal time intervals B. a term that does not apply to mortgage payable or bond payable C. a stream of equal cash payments made at equal time intervals D. an investment which produces increasing cash flows over time
Answer: C is correct, a stream of equal cash payments made at equal time intervals
Annuity is described by
C. a stream of equal cash payments made at equal time intervals
What is annuityAn annuity is a financial product or arrangement that involves a series of equal cash payments made at regular intervals, such as monthly or annually. These payments can be made for a fixed period or for the duration of a person's life. The key characteristic of an annuity is the consistency and regularity of the cash flows.
Option A describes a series of unequal cash payments, which does not match the definition of an annuity.
Option B is incorrect because the term "annuity" can apply to various financial arrangements and is not limited to specific liabilities like mortgage or bond payables.
Option D is also incorrect because an annuity does not necessarily produce increasing cash flows over time. The cash flows are typically equal and remain constant throughout the annuity period.
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The first step toward understanding business ethics is to: A) know your company's ethical policies. B) know your own morals and philosophies. C) know society's ethical policies. D) develop ethical-issue awareness. E) develop a set of decision-making rules.
Answer:
E) develop a set of decision-making rules.
Explanation:
Although not identical, the concept of business ethics (or management ethics) arises strictly related to the concept of social responsibility of organizations. Ethics can be considered as a set of social values and rules that distinguish what is right from wrong, that is, indicate when a behavior is socially acceptable or not. In other words, an ethical action means no more than respect for the moral principles of society. These moral principles constitute general rules of behavior of great importance to society which can not be established or modified by the decisions of individuals alone or by the powers that be instituted. At the business level, ethics has to do with the set of rules of decision making, that is, the choices made by managers in face of a plurality of options, which will have, as a background, morality.
The first step toward understanding business ethics is to know your own morals and philosophies and develop ethical-issue awareness.
Explanation:The first step toward understanding business ethics is to know your own morals and philosophies. This is important because ethics is the study of morality and ethical decisions are based on personal values and beliefs. By understanding your own morals and philosophies, you can make informed ethical decisions in a business context.
Developing ethical-issue awareness is also an important step, as stated in option D. This involves being aware of potential ethical issues that may arise in business situations, and being able to recognize and address them.
While options A, C, and E are also important in understanding business ethics, knowing your own morals and philosophies and developing ethical-issue awareness are fundamental steps that form the basis for ethical decision-making.
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A semiprofessional baseball team near your town plays two home games each month at the local baseball park. They split the concessions 50/50 with the city, but keep revenue from ticket sales for themselves. The city charges the team $100 each month for the three-month season. The team pays the players and manager a total of $1,000 a month. The team charges $10 for each ticket, and the average customer spends $7 at the concession stand. Attendance averages 30 people at each home game.In order to break even, how many tickets does the team need to sell for each game?a. 33b. 37c. 41e. 49f. 244
Answer:
c. 41
Explanation:
The first thing we need to do is evaluate the monthly costs of the team:
Monthly Costs: $100 for the park, $1,000 for the salaries.
Total: $1,100
They play 2 local games per month, so they have costs of $550 / local game.
Now, for each ticket they sell, they get $10 for the ticket and $3.50 in concessions. Assuming these are net money from the concessions, not just sales. So, for each ticket sold, they get $13.50 in revenues.
To cover their $550/game costs they need to sell...
550 / 13.50 = 40.74 tickets... so 41 tickets are needed to cover those monthly costs.
To break even, the baseball team needs to sell approximately 79 tickets per game. The calculation is based on the team's expenses, the earnings from ticket sales, and the split revenue from the concession stands.
Explanation:To solve this problem, you need to understand that there are two sources of income and expense for the baseball team; ticket sales and the concessions. The team's total monthly expenses are $1,100 ($1,000 salary + $100 city charge). Each game, the team gains revenue from the tickets they sell and half of the money spent by average customer ($3.5) at the concession stand, because it is split 50/50 with the city. The question asks how many tickets the team needs to sell to break even, so we will set up the equation (Number of tickets * $10) + (Number of tickets * $3.5) = $1,100 and solve for the number of tickets. When doing so, we find that the team needs to sell approximately 79 tickets per game to break even. Given the options, none of them are correct.
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In which situation is intuition most likely to be useful for making strategic decisions?A. When the situation is understood with complete certaintyB. When there is an abundance of data availableC. When a flash of brilliance reveals the most effective course of actionD. When there is little precedentE. When the situation calls for rational problem solving
Answer:
Definition: the ability to understand something immediately, without the need for conscious reasoning.
Explanation: use that to find your answer should help just googling things ;/
"When the situation is understood with complete certainty"is the situation intuition most likely to be useful for making strategic decisions.
What is meant by strategic decisions?Strategic decisions are the decisions that are concerned with whole environment in which the firm operates, the entire resources and the people who form the company and the interface between the two.Strategic decisions are made based on of a company's mission and vision or its objectives."When the situation is understood with complete certainty"is the situation intuition most likely to be useful for making strategic decisions.Hence is the answer is option A.
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