Answer:
$50,000
Explanation:
The gross domestic product is the sum of all final goods and services produced in an economy within a given period which is usually a year.
The $50,000 worth of Apples sold to individuals represent final goods. They are included as part of consumption in the calculation of GDP.
The $75,000 sold to firms which are used to produce Apple ciders are intermediate goods. Intermediate goods aren't included in the calculation of GDP.
I hope my answer helps you
Only the farmer's direct sales to individuals, amounting to $50,000, will be counted in GDP, as the apples sold to the company for cider production are considered intermediate goods and will not be counted to prevent double counting.
When calculating Gross Domestic Product (GDP), we only include the final goods and services produced within a country in a given year. This means we exclude intermediate goods to prevent double counting. In the case of the farmer's sales, the $50,000 worth of apples sold directly to consumers for consumption will be included in the GDP. However, the $75,000 worth of apples sold to the company for cider production will not be included as apples in the GDP calculation because they are intermediate goods that will be transformed into a different final good - the cider.
Only the value of the finished cider, as a final good, will be included in the GDP figures once it's sold to the final consumers or businesses. Therefore, for the reported sales of apples, only the initial $50,000 will count towards GDP as part of consumption.
Which growth strategy is designed to increase sales of existing products to current customers, non-users, and users of competitive brands in served markets would utilize which of the following marketing strategies?
A. Control.
B. Market penetration.
C. Market development.
D. Diversification.
E. Product development.
Answer:
market penetration:
Explanation:
Market penetration refers to the approach of selling the service and product in the market that is specified for a particular product.
it is calculated by determining the total amount of product sales in the market compared to goal of selling products in the market.
it involves all process that is needed to promote or to grow the market percentage in a particular business.
it is calculated as
market penetration[tex]= \frac{market\ covered}{target\ market} \times 100[/tex]
A manager who trains and mentors subordinates to assist them in achieving their full potential within the organization is acting primarily within which function?
a. organizing
b. leading
c. demonstrating
d. controlling
e. planning
Answer:
It is leading (b)
Explanation:
Leading has to do with guiding the work efforts of other people in directions appropriate to action plans. It involves building commitment and encouraging work efforts that support goal attainment.
It provides mentor-ship and encourages others to bring the best out of them.
Which of the following is not correct? a. The value of the economist’s language lies in its ability to provide you with a new and useful way of thinking about the world in which you live. b. Economists use some familiar words in specialized ways. c. Economics has its own language and its own way of thinking, but few other fields of study do. d. Supply, demand, elasticity, comparative advantage, consumer surplus, and deadweight loss are all terms that are part of the economist’s language.
The incorrect statement is: 'Economics has its own language and its own way of thinking, but few other fields of study do.' Every field of study has its unique terminology and thought processes, not just economics.
Explanation:The statement that is not correct among the provided options is: 'Economics has its own language and its own way of thinking, but few other fields of study do.' This statement is false because every field of study has its distinct language and ways of thinking. Economists do use some words in specialized ways, and terms like 'supply,' 'demand,' 'elasticity,' 'comparative advantage,' 'consumer surplus,' and 'deadweight loss' are indeed part of the economist's language. However, the same can be said for other disciplines as well – whether it's chemistry, linguistics, mathematics, or any other field, they all have their own specific terminologies and methodologies.
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The incorrect statement is that 'Economics has its own language and its own way of thinking, but few other fields of study do'. Every field of study has its own unique language and way of thinking, not just economics.
Explanation:The statement that is not correct among the options given is c. Economics has its own language and its own way of thinking, but few other fields of study do.
Indeed, economics uses a specialized set of terminology, known as the economist’s language, which includes terms like supply, demand, elasticity, comparative advantage, consumer surplus, and deadweight loss. This language affords a unique way of understanding and appraising the world. However, it is incorrect to say that few other fields have their own specific way of thinking. Many fields of study have their own unique language and conceptual frameworks. For example, a physicist perceives the world through concepts of force, energy, and matter, while a linguist might approach it through the structures of syntax, phonetics, and semantics.
So, while the uniqueness of economics and its terminologies is not in dispute, it is not alone in this regard within academic disciplines.
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Marketing executives at Diet Pepsi want to analyze the number of Diet Coke customers who switch to its product when Diet Pepsi is offered at a deep discount. What data would likely show this information?
Answer:
Panel data
Explanation:
A panel data is a multi-dimensional data that is collected over a period of time or multiple times for firms or individuals. It can also be called longitudinal data.
This kind of data usually shows a lot of things at the same time over the period of time that the data is being collected.
I hope this helps.
To assess the switch of Diet Coke customers to Diet Pepsi due to discounts, marketers should analyze sales, consumer surveys, and market share data focusing on the time frame of the promotion.
Marketing executives at Diet Pepsi seeking to analyze the number of Diet Coke customers who switch to Diet Pepsi when it is offered at a deep discount would likely look at sales data, consumer behavior surveys, and market share analysis. Specifically, they would need data on Diet Pepsi sales before, during, and after the promotion, as well as comparable data for Diet Coke.
They would also benefit from consumer behavior surveys that could provide insights into customers' reasons for switching. Observing trends in market share during the discount period could further help to quantify the impact of the discount on customer switching behavior. By correlating this data, they would better understand how price reductions influence customer choices between competing products.
In the ________ business model, a web-based business builds a digital environment in which buyers and sellers can meet, display products, search for products, and establish prices.
Answer:
Market creator
Explanation:
The internet has changed how bussines work and approach their costumers, market creator bussines model builds a digital environment where the buyer and the seller can meet easily, allowing them to search or display their products. An example of this bussines model is eBay.
I hope you find this information useful and interesting! Good luck!
In deciding whether to dismiss the suit, the court in California first should look to _________ sources of law, or sources that establish the law.
Answer:
Primary
Explanation:
The primary sources of law should be looked to when deciding whether to dismiss a suit or not. The primary sources of law are the determining bodies usually the government (federal and/or state) that make the laws. These bodies include the legislative, case laws, treaties, regulations and constitutions.
I hope this helps.
"identify each of the principles underlying aicpa auditing standards in the first column by selecting the letters corresponding to each of the principles (from the list of possible principles given below). use the second column to identify by roman numeral (from the list of failures given below) how the action(s) of holmes resulted in a failure to comply with each standard you selected in the first column"
Explanation:
Ray, the owner of a small corporation, ordered CPA Holmes to perform a record audit. Ray told Holmes that a loan application should include a prompt analysis of the audited financial statements of a bank. Holmes acknowledged the agreement unanimously and decided that an auditor's report should be given within 3 weeks. If the loan was granted, Ray accepted to pay Holmes a fixed fee plus a bonus.
Two accountant graduates were employed by Holmes to perform the audit and spent several hours saying exactly what to do. Holmes told the students to concentrate instead on providing accurate statistical facts in the documents and summing up a date that confirms Ray's financial statements that do not include footnotes, instead of testing the controls.
Holmes checked the documents and produced a report of the auditor without qualification. The article applies neither to the GAAPs nor to their consistent application.
The AICPA Auditing Standards principles provide rules for auditors to follow. Violation of principles like 'Professional Skepticism' and 'Due professional care' can lead to audit failures. Specific correspondences between Holmes' actions and these principles would require further details.
Explanation:The AICPA Auditing Standards provide guiding principles for auditors to perform their audits, and any deviation from these principles can lead to audit failure. To help with your schoolwork, let's discuss Holmes' particular cases.
We can't assume specific actions by Holmes without concrete examples, but in general, if Holmes violates the principle of 'Professional Skepticism' (for instance), it would mean he fails to critically question audit evidence (perhaps indicated by Roman numeral I in your list).
If Holmes infracted the 'Due professional care' principle, it would mean Holmes didn't apply scrupulous care and attentiveness during the audit (maybe identified by Roman numeral II).
These are generic scenarios. To provide a precise correlation between AICPA principles and Holmes' actions, more details would be needed.
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Five firms are currently producing and selling in a market. When two more firms enter the market, economists expect that the equilibrium price will ________ and the equilibrium quantity will ________.
Answer:
Decrease, Increase
Explanation:
Equilibrium price is that price in the market, where the quantity of the goods supplied or the service offered is equal to the quantity of the goods demanded. At this point the supply as well as the demand curves in the market intersect.
So, when 2 firms will be entering the market, the economist expect that the equilibrium price will decrease or fall and fall in the price leads to increase in the quantity, so the equilibrium quantity will increase.
________ is the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment.
A. Marketing data
B. Customer intelligence
C. Competitive intelligence
D. Marketing intelligence
E. Sales management
Answer:
D. Marketing intelligence
Explanation:
Marketing intelligence is the systematic collection and analysis of data about the market its operating or want to enter.
Marketing intelligence can be obtained through making research about the products (what consumer desire, branding type, pricing of the product, comparing competitor products, pricing and branding, e.t.c).
Marketing intelligence is use to for decision making and allows for product innovation or improvement thereby promoting the sales of its products.
Answer: Marketing Intelligence.
Explanation: Marketing Intelligence.
What is a type of organization information systems? A) Executive information system.B) Decisions support system.C) Augmented reality system.D) Transactional processing system.E) Business-facing process system.F) Reengineering system.
Answer:
Executive information system.
Decisions support system.
Transactional processing system.
Explanation:
An organization's information system is a system of the collective process which is designed to capture, analyze, process and share all important data. The main goal behind setting up the organization information system is to achieve the target aim by the effective way.
The categories of a system that the organization information system include are:
Databases
Decisions support system.
Enterprise systems
Global information systems
Expert systems
Information system functionalities, etc.
The Indiana state legislature passes a law increasing the minimum jail time for repeat violent offenders. This law becomes part of a body of law known as:______.a. case law. b. administrative law. c. uniform law. d. statutory law.
Answer:
D. Statutory law
Explanation:
A statutory law is the the term used to describe the set of rules that is written by legislative body of government. A statutory law differs from case law which is based on past legal decisions written by courts and administrative law written by the executives.
Answer:
(d) Statutory Law
Explanation:
The law passed by the Indiana state legislature increasing the minimum jail time for repeat violent offenders becomes part of a body of law known as the statutory law.
Statutory laws are written laws passed by legislature i.e state or federal legislature. These are some of the sources of law;
(i) Constitutional Law
(ii) Statutory Law
(iii) Case Law
By definition, this law passed by the Indiana state legislature seeking to increase jail time for repeat violent offenders is a statutory law mainly because it is a written law enacted by the Indiana state legislature.
Bradley, the president of Commerce & Trade, Inc., claims that certain actions by the federal government and the state of Delaware infringe on rights guaranteed by the Bill of Rights. All of these rights limit
a. none of the choices.
b. the federal government.
c. private citizens and corporations.
d. the states.
Answer:
The correct answer is B
Explanation:
The Bill of Rights is the one which guarantees the liberties as well as the civil rights to the individual such as the religion, press and freedom of speech.
It states the rules for the procedure which is due for the law and also reserves all the powers not delegated to the Federal Government to the States or the people.
Therefore, the one where all the rights limit the federal government.
What is the criminal penalty for engaging in the real estate brokerage business in Texas without firstbecoming licensed by TREC?
Answer:
You must pay a fine of not more than $4,000
Kyzera manufactures, markets, and sells cellular telephones. The average total assets for Kyzera is $250,000. In its most recent year, Kyzera reported net income of $65,000 on revenues of $475,000.
Required:
1. What is Kyzera’s return on assets?
2. Does return on assets seem satisfactory for Kyzera given that its competitors average a 12% return on assets?
3. What are total expenses for Kyzera in its most recent year?
4. What is the average total amount of liabilities plus equity for Kyzera?
The average total assets for kyzera is 250000 in its most
Accounting Basics
Answer:
1. 26%
2. YES
3. $410,000
4. $250,000
Explanation:
1. Return on Assets = Net Profits/ Total Assets = 65,000/250,000 = 26%
2. Return on Assets should be beyond satisfactory for Kyzera because its performance is better than that of the industry average which is 12%
3. Total expenses for Kyzera can be derived from the formula: Total Revenue - Total Expenses = Net Profit.
Therefore 475,000 - Total expenses = 65,000.
Total expenses = 475,000 - 65,000 = $410,000
4. The average total amount of liabilities plus equity can be derived from the balance sheet equation that states that TOTAL ASSETS = EQUITY+LIABILITIES.
Therefore liabilities plus equity = $250,000
1. The return on assets is 26%
2. Yes
3 The total expenses is $410,000
4. The average total assets for kyzera is $250,000
The calculation is as follows:
1. Return on Assets = Net Profits ÷ Total Assets
= 65,000 ÷ 250,000
= 26%
2. Return on Assets should be beyond satisfactory for Kyzera since performance is better than that of the industry average i.e. 12%
3.
Total Revenue - Total Expenses = Net Profit.
475,000 - Total expenses = 65,000.
So,
Total expenses = 475,000 - 65,000
= $410,000
4. Total liabilities + equity = total assets
liabilities plus equity = $250,000
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The distribution of benthic biomass is related to ________. 1) _____
A) primary productivityB) thermocline depthC) current patternsD) sediment varietyE) wave energy
Answer:
The distribution of benthic biomass is related to;
A. Primary productivity
Explanation:
Primary productivity can be defined as the measure of the rate at which photosynthetic organisms produce organic compounds in an ecosystem. productivity can be looked at in two major ways, namely; gross productivity and net productivity.
1. Gross productivity
The entire photosynthetic organic compounds productions in an ecosystem.
2. Net productivity
Net productivity is the organic compounds in an ecosystem that remain after the photosynthetic organisms have utilizes some of the organic compounds for processes such as respiration.
Benthic biomass is therefor the amount of organic energy that are released by organisms in the benthic zone that utilize energy from the sun either directly or indirectly. The benthic zone defines an area that is the lowest point of a water body such as; a lake, ocean and stream. This zones has various organisms that thrive in it. The organisms are either be photosynthetic plants which utilize energy directly from the sun to produce organic compounds or animals that feed on the plants for energy. Both of the organisms still depend on energy form the sun either directly or indirectly.
The distribution of benthic biomass is related to primary productivity, sediment variety, and current patterns which influence the available nutrients and organic matter.
Explanation:The distribution of benthic biomass is related to several factors that affect life on the ocean floor. One of the primary factors is primary productivity, which is the rate at which energy is converted by producers into organic substances. Benthic organisms rely on the fall of organic material from the upper layers of the ocean, which is why areas with high primary productivity tend to have a greater biomass of benthic creatures. Another factor affecting benthic biomass is sediment variety, as different benthic organisms are adapted to different types of sediment on the ocean floor, from sand to silt to organic debris. Lastly, current patterns also influence the distribution of benthic biomass by affecting the dispersal and deposition of nutrients and organic matter, which in turn influences the distribution of benthic life.
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A firm has good associations with its customers, suppliers, and others who provide added mutual value for the firm. Name the form of intellectual capital that is possessed by the firm due to its good associations.1. structural capital2. relationship capital3. human capital4. knowledge capita
Answer:
It is called relationship capital (2)
Explanation:
Relational capital is one of the three components of intellectual capital. It is value derived by the company by the virtue of relationships it has with its customers, vendors, and other important stakeholders.
This is created and maintained by having, nurturing and managing good relationships with all the important stakeholders in the business whether external or internal.
You invested $29 comma 000 in two accounts paying 2 % and 5 % annual interest, respectively. If the total interest earned for the year was $ 940 comma how much was invested at each rate?
Answer:
Amount invested in account paying 2% = $17,000
Amount invested in account paying 5% = $12,000
Explanation:
Total amount invested = $29,000
Total Interest earned = $940
Let the amount invested in account paying 2% interest be 'x'
Therefore,
the amount invested in account paying 5% interest will be '$29,000 - x'
Now,
( 2% of x ) + [ 5% of ( $29,000 - x)] = $940
or
0.02x + 1450 - 0.05x = $940
or
- 0.03x = $940 - $1450
or
- 0.03x = - $510
or
x = $17,000
Hence,
Amount invested in account paying 2% = $17,000
Amount invested in account paying 5% = $29,000 - $17,000 = $12,000
Market Analyst:__________ Recent research confirms that the main cause of bad breath is bacteria build-up on the tongue. The research also concludes that tongue scrapers, when used properly, can eliminate up to 40% of the bacteria from the tongue. As the effectiveness of tongue scrapers becomes more widely known, the market for less effective breath freshening products, such as mints, gums, and sprays, will decline significantly.
Complete Question:
Market Analyst: Recent research confirms that the main cause of bad breath is bacteria build-up on the tongue. The research also concludes that tongue scrapers, when used properly, can eliminate up to 40% of the bacteria from the tongue. As the effectiveness of tongue scrapers becomes more widely known, the market for less effective breath freshening products, such as mints, gums, and sprays, will decline significantly.
Which of the following provides the best evidence that the analyst’s argument is flawed?
(A) Some breath freshening products are advertised to eliminate up to 30% of the bacteria from the tongue.
(B) Tongue scrapers have already been on the market for a number of years.
(C) Many dentists recommend regular flossing, and not the use of the tongue scraper, to combat bad breath.
(D) A recent survey shows that 94% of those who regularly purchase breath freshening products are aware of the effectiveness of the tongue scraper.
(E) Some people buy breath freshening products for reasons other than to fight bad breath.
Answer:
Option D, A recent survey shows that 94% of those who regularly purchase breath freshening products are aware of the effectiveness of the tongue scraper.
Explanation:
The market analyst believes that as the efficacy of the tongue scraper becomes more commonly known, the demand for breath refreshers will decline.
To demonstrate that this reasoning is flawed, one of two hypotheses must be that customers are primarily interested in products which combat bad breath or do not know how effective a language scraper really is.
This argument weakens the claims by challenging one of the key premises in the argument: the efficacy of the tongue scraper is not known to people who use breathing soothing items. When 94% of those who eat Breath-Fresheners use the tongue scraper, and those customers continue to buy Breath-Fresheners items, only 6% of those who eat Breath-Fresheners will vote for a stop buying such goods after discovering the efficacy of the Tongue Scraper in reducing Breathlessness. Even though all six percent stopped shopping for the goods, the demand would hardly be shrinking dramatically.
Employees who experience ______ conflict and ______ facilitation between work and family roles are objectively healthier, less absent and better performing employees
a. high, low
b. high, high
c. low, low
d. low, high
Answer: The correct answer is (D) low, high
Explanation:
A conflict refers to a serious disagreement which is usually protracted while facilitation means a process of helping or assisting.
For an employee to be focused on the job, less absent and objectively healthier he needs more positivity both at home and at work.
Hence, an employee needs low conflict and high facilitation to function better
Which of the following countries comes a close second to the United States with respect to the quantity and quality of the marketing-related data available?A. Brazil
B. Australia
C. China
D. Japan
E. Kenya
Answer:
D. Japan comes close
Pepperdine Company paid factory rent of $10,000. At the time this transaction occurred, it did not affect total assets or net income. True or false?
Answer:
True
Explanation:
As at the time factory rent was paid by Pepperdine company, it did notaffect toatal assets as the factory is an asset of he company as it is rented. I also doesn't affect the net income since the rent is going to included in capital for the company.
Cheers.
Operations Management is responsible for increasing the organization’s efficiency, which means the company will be able to __________.
Answer: Eliminating the activities that do not add value
Explanation:
The operation management is basically refers to the business administration that perform various types of function in an organization.
It is responsible for increasing the efficiency of an organization which means that the company eliminating the various types of activities which does not add any type of values for organization.
It also involve the various types of planning process, coordinating, controlling and organizing all the company resources for producing the effective products and the services.
Therefore, The given answer is correct.
Which of the following refers to a form of protectionism that stipulates a certain proportion of a product must consist of components supplied by industries in the host country or economic community? A. U.S. Generalized System of Preferences (GSP) B. Economic sanctions C. Nationalization D. Local content rules E. Expropriation
Answer:
D. Local content Rules
Explanation:
Local content rules/requirements emphasize that a certain proportion of a product be manufactured from locally supplied components as opposed to imported inputs in the host country. The aim of this is to safeguard and promote employment in domestic country, promote the growth of domesatic industries, and facilitate technological advancement in these industries and in the economy as whole.
Martha visits a departmental store and discovers that a box of exotic candles will cost her ten percent more than what she had paid six months ago. The increase in prices is same across the country. In this scenario, which of the following statements is true?1. The departmental store is trying to earn profits by increasing the prices of its goods.2. She has to pay twelve percent more than what she paid last month.3. She will have immediate purchasing power if she had a pay raise to match the inflation.4. The candles' subjective value increases with the increase in inflation.
Answer: She will have immediate purchasing power if she had a pay raise to match the inflation.
Explanation:
Martha's country has experienced an inflation, which is a general rise in price of commodities in a market. In an inflation, the local currency losses value, therefore Martha would need an income increase to be able to purchase the exotic candles.
Martha's experience with candle prices rising highlights the effects of inflation on purchasing power. If her income matches inflation, she maintains her ability to purchase goods despite price increases. Deducing the impact of higher prices on supply and demand can be challenging as seen in historical contexts.
Explanation:When Martha finds that the price of a box of exotic candles at a departmental store has increased by ten percent over the last six months due to a nation-wide increase, and not specifically by the store to gain more profit, several interpretations can emerge. In an economic context, such as inflation, a rise in prices affects purchasing power. If Martha received a pay raise that adjusts exactly with the inflation rate, she would maintain her purchasing power, meaning she could buy the same amount of goods as before the price increase - as illustrated by the Land of Funny Money example where a uniform 20% increase in prices and wages made no real economic impact.
However, the scenario doesn't suggest anything about a 12% increase last month or an assumption that the candles' subjective value has increased with inflation. These aspects are specific and would require explicit information about recent price trends or individual valuation of the candles respectively. The complexity of what influences price changes—inflation, supply and demand fluctuations, and individual or collective valuation of goods—is echoed in the historical example of Israel in 1985 when rapid inflation led to frequent changes in item pricing, complicating economic decision making.
Service providers should refrain from asking feedback from customers to save time that can be used to provide better service quality.
A. True
B. False
Answer:
B. False
Explanation:
The target of service provision are the customers. So service providers must ensure that their targets are obtaining maximum satisfaction from the quality of service they provide and one way of doing this is by asking feedback from customers
Answer:
False
Explanation:
For service providers to provide excellent customer service, you first need understand their experiences, and dissatisfactions. They must ensure that their customers are obtaining quality service that they are providing, and of a necessity this can be gotten through asking customers for feedback. Getting your customers to give you feedback has another important benefit. It makes them feel relevant and that you place value on them, and are willing to look into their issues and profer solutions. This can help to even prevent them from sharing their negative comments on social media.
Which of the following financial statements is concerned with the company at a point in time?
A. Statement of cash flows
B. Income statement
C. Balance sheet
D. Retained Earnings statement
Answer:
The correct answer is C
Explanation:
Balance sheet is the one of the financial statement, which reports the assets, shareholders' equity and liabilities of the company, at a particular point in time or particular period or year. This financial statement states or offers the basis or grounds for evaluating the return rates as well as computing the capital structure.
The balance sheet offers the snapshot of the accounts of the company which is at a given point in time.
If the same number of units of good Y must be given up as each successive unit of good X is produced, then the PPF for these two goods is_________________.
Answer:
PPF : Downward Sloping Straight Line
Explanation:
PPF is the locus of product combinations that an economy can produce, given resources & technology.
It is downward sloping : Because of inverse relationship between two goods- if one has to be increased other has to be decreased , because of same resources & technology.
Marginal Opportunity Cost (Slope of PPC): is ratio of a good sacrifised to gain each additional unit of the other good.
∆ Good sacrifised / ∆ Good gained
If this ratio is same i.e constant amount of a good is sacrifised to gain an additional amount of the other one , the slope of PPC is constant & it is a straight line
Eg : Good1 Good2 MOC [∆Good2/∆Good1]
0 20 _
10 10 -10/10 = -1 (10-20)/(10-0)
20 0 -10/10 = -1 (0-10)(/20-10)
So , same (1) good 2 is sacrifised to attain a good 1 each time.
However Generally: MOC is increasing , because of assumption that resources are unequally efficient in various goods production - shifting good from efficient to inefficient increases sacrifise each time. This makes PPC usually concave.
Sue hired an attorney to help her draft a purchase and sale agreement for her new home. The home is an example of a product that is a(n)______________.
Answer:
tangible item
Explanation:
Tangible item -
This term tangible item is used in the field of business.
It refer to the object which a person can touch , is referred to as a tangible item.
For example ,
Paper , pen , books , car , house , computer etc. are all example of tangible item , as they can be touched.
Hence from the information of the question,
The correct term is tangible item .
Sue's new home is an example of a good. A good in business terms refers to a tangible item that is bought or sold, unlike services which are intangible.
Explanation:In the context of the question, Sue's new home is an example of a good. In business and economics, products are essentially divided into two main categories: goods and services. Goods are tangible items that satisfy human wants or needs. In Sue's case, the home is a tangible item which she purchases, therefore it is classified as a good. Services, on the other hand, are intangible products like the service provided by her attorney in drafting the purchase and sale agreement.
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A certain bookstore chain has two stores, one in San Francisco and one in Los Angeles. It stocks three kinds of books: hardcover, softcover, and plastic (for infants). At the beginning of January, the central computer showed the following books in stock. Hard Soft Plastic San Francisco 1,000 3,000 6,000 Los Angeles 1,000 6,000 3,000 Its sales in January were as follows: 600 hardcover books, 1,300 softcover books, and 2,000 plastic books sold in San Francisco, and 400 hardcover, 300 softcover, and 500 plastic books sold in Los Angeles. The bookstore chain actually maintained the same sales figures for the first 6 months of the year. Each month, the chain restocked the stores from its warehouse by shipping 500 hardcover, 1,500 softcover, and 1,500 plastic books to San Francisco and 600 hardcover, 600 softcover, and 600 plastic books to Los Angeles. (a) Use matrix operations to determine the total sales over the 6 months, broken down by store and type of book.
Answer:
Hard Soft Plastic
San Francisco 3,600 7,800 12,000
Los Angeles 2,400 1,800 3,000
Explanation:
The sales during January were as follows:
Hard Soft Plastic
San Francisco 600 1,300 2,000
Los Angeles 400 300 500
If the sales during the next five months were actually the same, then to determine total sales all we have to do is multiply January's sales by 6.
600 x 6 = 3,600 1,300 x 6 = 7,800 2,000 x 6 = 12,000
400 x 6 = 2,400 300 x 6 = 1,800 500 x 6 = 3,000
The following table contains statements that provide some analysis of policies that address smoking, lung cancer, and cigarette taxes.Categorize each of these statements as either positive or normative.Statement Positive Normative1.Lung cancer kills millions of people each year. 2.Too many people smoke. 3.If the government were to increase taxes on cigarettes, fewer people would smoke. 4.The government should increase taxes on cigarettes.
Answer:
Positive Statements:
Lung cancer kills millions of people each year.
If the government were to increase taxes on cigarettes, fewer people would smoke.
Normative Statements:
Too many people smoke.
The government should increase taxes on cigarettes.
Explanation:
A positive statement is one that seeks to describe the world as it is.
A normative statement is one that offers an opinion as to the way the world should be.
The following statements are correctly categorized whether they are either positive or normative. Statement Positive Normative.
Lung cancer kills millions of people each year: Positive statementToo many people smoke: Normative statementIf the government were to increase taxes on cigarettes, fewer people would smoke: Positive statementThe government should increase taxes on cigarettes: Normative statementThe positive statement makes a factual observation regarding the number of individuals affected by lung cancer annually.
A normative statement indicates that the current amount of smoking is deemed excessive or unacceptable by expressing an opinion or value judgment about it.
Positive statement assertion suggests a cause-and-effect connection and foresees a possible result of raising cigarette taxes.
A normative statement gives an opinion or a suggestion on what the government should do in terms of taxing cigarettes, demonstrating a value assessment of the desired course of action.
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