Answer: salary substitute firms
Explanation:
A salary substitute firm is a kind of small business that yield a level of income for their owner that is similar to what they would earn when working for an employer. Examples of salary substitute include small businesses such as hairdressing, restaurants, dry cleaning services etc. Majority of small businesses fit into this category.
Ross wants to invest some money that he just inherited. He found that his bank offers a savings account paying a guaranteed 3% rate of return. However, he would like to earn a higher return. Ross should keep in mind that to earn a higher return on his money he:____________a. will have to invest overseas.b. should invest in a business that has a very stable and predictable rate of return.c. will probably have to accept a higher level of risk.d. will probably have to engage in illegal activities.
Answer:
(C) will probably have to accept a higher level of risk
Explanation:
Investing usually involve a trade-off between risk and return. Thus, relative to the guaranteed 3% rate of return offered by his bank, he will need to accept a higher level of risk to earn a higher return on his money.
Option A is incorrect because investing overseas may not earn a higher return, especially if the investment is in an oversea sovereign asset. Option B is incorrect because investing in a business with a very stable and predictable rate of return will likely yield a lower or similar rate of return as the bank savings account due to its low level of risk. Option D is incorrect as engaging in illegal activities does not necessarily guarantee a higher rate of return on a consistent basis.
Final answer:
To earn a higher return, Ross must accept a higher level of risk, which comes with a wealth of outcomes that can fluctuate in value. Higher returns have historically been associated with stocks due to their volatility, while a savings account offers lower, more stable returns.
Explanation:
Ross wants to invest some money he just inherited and is considering options beyond the bank's savings account offering a 3% rate of return. Seeking higher returns, Ross should keep in mind that to earn a higher return on his money he will probably have to accept a higher level of risk. This is because, generally, the potential for higher returns comes with a greater chance that the investment could perform below expectations or possibly lose value. Investments with higher returns, such as stocks, typically exhibit more volatility than a savings account and can fluctuate significantly in value.
When considering different investment options, analyzing in terms of expected rate of return, risk, and investment liquidity is crucial. The expected rate of return refers to the average return anticipated over time. Meanwhile, risk indicates the uncertainty that the actual return will deviate from the expected return.
Despite common fears, high risk does not guarantee low returns; it signifies a wider range of possible outcomes, from very low to possibly high. Moreover, reliable potential borrowers and the terms of the loan or investment, such as interest rate and repayment schedules, will affect both the risk level and the potential return.
Assume the economy is operating at full employment. If the economy enters a sudden economic expansion, the quantity of money available in the economy will:_______.
Answer:
the qquantity of money available in the economy will increase because there will be more foreign investments plus now the economy will start exporting and will reduce its imports so the quantity of money will increase.
Answer:
Explanation:Economic expansion is of two types: actual and potential. Actual expansion means increase in the goods and the services produced in an economy due to which Gross domestic product/national income rises. Potential expansion means the growth in the potential production or increase in the resources of the economy. Economy expands due to the increase in aggregate demand or aggregate supply. As the economy is operating at full employment, meaning that resources are fully employed, the increase in Aggregate demand will only cause the prices to rise which will lead to an increase in the demand of money. As the money supply is normally held constant by the govt, and the money demand has risen, the quantity of the money in the economy will remain the same and the interest rate will rise. But if the aggregate supply also rises, this will also increase the potential of the economy along with the actual output in the economy, the quantity of money will increase. The increase in national income will increase the demand of money and as there are spare resources available, to maintain the interest rate and encourage growth, The govt will increase the money supply in the economy (given that expansion is the aim of the govt).
How might we creat a sense of civility in both our social circles and our government?
Answer:
• Screen and Vote for people with civility in behavior.
• Reward Civil Behavior
• Training on Civility
• Accountability for civility in behavior
Explanation:
We create a sense of civility in both our social circles and our government through the following ways:
1. Screen and Vote for people with civility in behavior: One of the ways we can create a sense of civility in our government is to Screen congress candidates before voting for them into government because if there is no civility in government it cannot be expected in the governed
2. Reward Civil behavior: It is already a well established fact in psychology that rewards reinforce good and positive behavior, hence if we want to create civility in our society we ought to put rewards in place to encourage such behavior.
3. Training on Civility: Existing leaders in organisations and governments should be made to undergo training in civil behavior and should be saddled with the responsibility of training their subordinates on the same subject matter
4. Accountability for civility in behavior: People should be made to answer for lack of civility in behavior as a way to discourage and punish negative behavior. This is the other side of rewarding positive behavior which if combined will achieve huge success in creating civility in behavior.
A food manufacturer hires people based on their technical qualifications, has a classical hierarchy of authority, and ensures all administrative acts are recorded in writing. What style of management does it practice?
Answer:
Bureaucratic Management
Explanation:
In a bureaucratic management form, the emphasis is laid upon technical skills and qualifications and follows long hierarchy wherein each level issues commands to the level below it.
Bureaucracy has often been criticized for the delay it causes in decision making process as every person is answerable to his superior and a decision has to pass several levels of hierarchy.
In the given case, the manufacturers hiring is based upon technical qualifications, a classical hierarchy of authority is followed and every act is recorded in writing which points towards more documentation, which is another limitation of bureaucracy.
Last year, 7,140 units were produced and 6,940 units were sold. There was no beginning inventory. The carrying value on the balance sheet of the ending inventory of finished goods under variable costing would be:a. $4,400 less than under absorption costing.
b. $6,940 less than under absorption costing.
c. $6,940 greater than under absorption costing.
d. the same as absorption costing.
Answer:
$4,400 less than under absorption costing.
Explanation:
First the complete Question:
The Southern Corporation manufactures a single product and has the following cost structure:
Variable costs per unit:
Production $ 35
Selling and administrative $ 17
Fixed costs per year:
Production $ 157,080
Selling and administrative $ 128,810
Step 1: Calculate the Value of the Ending or Closing Inventory under variable costing
To do this subtract the closing inventory form the produced units and multiply it by the production variable cost per unit
= (7,140 - 6,940) x $35 = $7,000
Step 2: Use Absorption Costing to determine the Product Cost
a. Determine Fixed Production Cost per Unit
Fixed Cost/ total units produced
= $157,080 /7140 = $22
b. Calculate total cost per unit by adding the variable Production cost to the determined fixed production cost per unit
= $35 + $22 = $57
Step 3: Determine Closing Inventory of goods produced under absorption costing
= 7,140 - 6,940 = 200 Units
Multiply this by the total production cost determined
= 200 units x $57 = $11, 400
Step 4: Find the difference between the value of closing inventory determined in step 1 and the value of closing inventory determined by absorption costing in step 3
= $11, 400 - $7,000 = $4,400
This means that the ending inventory of finished goods under variable costing (step 1) is $4,400 less than the ending inventory under absorption costing (step 3)
Pam has a loan in which she received all of the loan proceeds in one lump sum at the time of closing. This type of loan is a(n) __________ loan.a. closed-end
b. open-end
c. purchase money
d. fixed-rate
Answer: Closed-end.
Explanation:
The loan received by Pam is a Closed-end loan, which is a type of loan that enables the borrower of the loan to gain access to the full loaned amount, once the loan has been granted and necessary agreements have been reached between the borrower and the lender. The closed is a contrast of the open end credit, where a sum is given over a stretch of time.
In 2013, selected automobiles had an average cost of $15,500. The average cost of those same automobiles is now $17,205. What was the rate of increase for these automobiles between the two time periods?
Answer:
11%
Explanation:
Average cost of automobiles in 2013 = $15,500
Average cost of automobiles now = $17,205
Change in average cost = $17,205 - $15,500
= $1,705
Rate of increase in cost is the ratio between the increase and the average cost before the increase.
Rate of increase = ($1,705/$15,500) × 100%
= 11%
The rate of increase for these automobiles between the two time periods is 11%.
Motor Sports, Inc., sues A-Z Speed. Motor Sports alleges that A-Z breached (failed to perform) a contract that required A-Z to sell ten Jet Skis to Motor Sports. Under the rules governing discovery, Motor Sports is most likely entitled to obtain ______
Answer:
Documents related to the contract
Explanation:
When a contract is made between parties they usually sign an agreement. The reason to sign an agreement is if one tries to breach the contract they can sue them with prove. In the above scenario, motor Sports Company has sued A-Z sports and alleges that A-Z sports have breached a contract. Under the rules governing discover, the court will permit motor sports to obtain the documents related to the contract.
During the current year, Blossom Construction trades an old crane that has a book value of $122,400 (original cost $190,400 less accumulated depreciation $68,000) for a new crane from Blue Manufacturing Co.
Answer:
The journal entry would be
New Equipment (crane) $ 122,400 Dr
Depreciation Expense (old crane) $ 68,000 Dr
Old Equipment $ 190,400 Cr
As the price of the new equipment is not given the profit or loss cannot be estimated. the whole amount less depreciation is transferred to new equipment account. if depreciation is treated separately and not set off against the equipment the entry would be under the accrual basis of accounting
New Equipment (crane) $ 122,400 Dr
Depreciation Expense (old crane) $ 68,000 Dr
Old Equipment $ 122,400 Cr
Accumulated Depreciation $ 68,000 Cr
Under market organization, individuals can communicate their preferences to other decision makers directly, through communication, but not indirectly, through their choice of whom to transact with.
1. True
2. False
Under market organization, individuals can communicate their preferences indirectly through their choice of whom to transact with.
Explanation:False
Under market organization, individuals can communicate their preferences indirectly through their choice of whom to transact with. In a market economy, individuals have the freedom to choose with whom they want to engage in transactions, whether buying or selling goods or services. This choice reflects their preferences and can influence the decisions of other market participants.
For example, if consumers prefer eco-friendly products, they may choose to buy from businesses that prioritize environmental sustainability. This choice sends a signal to other businesses, encouraging them to adopt more sustainable practices to attract customers.
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You and seven other people relay your feelings and thoughts about a potential new product to a trained moderator. In exchange, you receive a small payment. You are participating in a(n):
Answer:
Focus Group Interview
Explanation:
In a focus group interview, each participant is compensated by a small amount for participant's valuable suggestions and comments. In this case there are participants and each participant will receive a small payment because this arrangement is focus group interview.
If the income elasticity of demand for good X is negative and the cross-price elasticity of demand between good X and good Y is negative, which of the following must be true of good X
Answer:
Good X is Inferior Good, Good X is complementary good of Good Y.
Explanation:
Demand : Buyers ability & willingness to buy given price - has 4 factors (price of good, income, price of related goods, Taste).
Based on Income : Normal Goods demand vary directly with Income, more demand at higher income & vice versa. Eg: Normal grains like Wheat, Rice. Inferior Goods demand vary inversely with Income, more demand at lower income & vice versa. Eg: Low grade, cheap grains like Bajra.
Price of Related Goods: Related Goods can be Substitutes or Complements. Substitute (interchangeable) goods price are directly related a with good's demand because - substitute price rise makes the good relatively cheap, increases its demand & vice versa. Complementary (together used) goods price are inversely related with a good's demand because - complements price rise makes the product combination expensive, decreases its demand & viceversa. 1st eg: Coke, Pepsi ; 2nd eg: Tea, Sugar.
If income elasticity of demand for good X is negative : implies it varies inversely with Income - It is an Inferior Good
If Cross Price Elasticity of demand between good X and good Y is negative : Implies Y's prices & X's demand vary inversely - Both are complements of each other.
If good X has negative income elasticity of demand, it is an inferior good. Demand for it decreases as income increases. If it has negative cross-price elasticity of demand with good Y, these are complementary goods, usually consumed together.
Explanation:If the income elasticity of demand for good X is negative, it suggests that good X is an inferior good. Inferior goods are those for which demand decreases as income increases. In other words, the less money people have available, the more likely they are to buy inferior goods.
If the cross-price elasticity of demand between good X and good Y is negative, it implies that goods X and Y are complementary goods. Complementary goods are products that are usually consumed together. If the price of one good goes up, the demand for both goods usually drops.
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When the director/manager allows employees to guide themselves toward the goal, then a(n) _______ leadership style is being used.
Answer:
Free Rein Style
Explanation:
leadership can be described as research area that encomposses the ability of an organisation or an individual to lead a team, individuals or entire organisations.
Free rein style is the most suitable.
Ryan is going to rent a truck for one day. There are two companies he can choose from, and they have the following prices. Company A charges an initial fee of $72.50 and an additional 40 cents for every mile driven. Company B charges an initial fee of $25 and an additional 90 cents for every mile driven. For what mileages will Company A charge no more than Company B? Write your answer as an inequality, using m for the number of miles driven.
m≥95
Explanation:
Since, we have two option given.
forming the equation for Company A
As company A pay fixed (intercept) of $72.5. Moreover, with every one mile driven company A pays $0.4 (slope)
Using the equation
y=mx+c
where m is slope, and c is intercept.
In the case of company A. slope is $0.4, and intercept is $72.5.
charges= 0.4m+72.5
Forming the equation for company B
charges=0.9m+25
Now, as per the requirement of question we must find the value of m, where Company A will charge no more than company B
That means,
we have to find the value of m where charges from equation of company A should be less than or equal to charges from equation of company B
in other words,
0.4m+72.5 ≤ 0.9m+25
solving for m,
Step 1
72.5-25 ≤ 0.9m-0.4m
Step 2
47.5≤ 0.5m
Step 3
47.5/0.5≤ m
Step 4
95≤ m
in other words, m≥95
The _____ states that the individual, firm, region, or country with the lower opportunity cost of producing a particular good should specialize in producing that good.
Answer:
Law of comparative advantage
Explanation:
Let's assume that Wakanda can produce either 10 bags of cotton or 10 bags of wine. While country x can produce either 5 bags of wine or 4 bags of cotton.
The opportunity cost of Wakanda producing either wine or cotton is one .
The opportunity cost of country X producing wine is 4 / 5 = 0.8 and the opportunity cost of producing cotton is 5 / 4 = 1.25
Wakanda should specialise in the production of production of cotton because it has a lower opportunity cost when compared with the other country.
Country x should specialise in wine production because it has a lower opportunity cost when compared with Wakanda.
This illustrates comparative advantage .
I hope my answer helps you
Imagine you are a consultant who has been asked to summarize the strengths and weaknesses of Customaria, a nation with a pure traditional economy (an economy molded largely by custom or religion).
Which of the following would you include in your report as weaknesses of Customaria's economy? Check all that apply:
_ There is little cooperation, relative to other economies.
_ The participants in the economy are slow to adopt new beneficial technologies due to previous customs.
_ People express more dissatisfaction with their lives than those in other economies.
_ Occupational choices can be restricted.
Final answer:
The weaknesses of Customaria's pure traditional economy include the slow adoption of new technologies due to customs and restricted occupational choices. Traditional economies often feature strong cooperation, and while dissatisfaction can occur, it is not an inherent economic weakness.
Explanation:
When examining the weaknesses of Customaria's economy, which is a nation with a pure traditional economy, there are several factors to consider. Traditional economies often show resistance to change, which leads to certain weaknesses:
The participants in the economy are slow to adopt new beneficial technologies due to previous customs, hindering progress and development.Occupational choices can be restricted because jobs tend to be determined by family tradition rather than individual choice or economic demand.However, the statement regarding little cooperation is not typically a weakness of traditional economies, as these economies are often characterized by strong communal ties and cooperation. Additionally, while people in traditional economies may sometimes express dissatisfaction, this is not inherently a weakness of the economic system itself but rather a subjective measure that can vary widely within any economy.
The correct options are 1, 2, 3, and 4. Customaria's economy faces weaknesses such as low cooperation, slow adoption of beneficial technologies due to customs, higher dissatisfaction among its people, and restricted occupational choices.
Each of these points represents a significant challenge for Customaria's traditional economy:
1. Little Cooperation: In a traditional economy, the lack of cooperation can hinder economic growth and development. Cooperation is essential for trade, innovation, and the division of labor, all of which are crucial for a dynamic and resilient economy. Without cooperation, the economy may struggle to adapt to changes or to take advantage of new opportunities.
2. Slow Adoption of Technology: Traditional economies often rely on long-standing customs and practices, which can lead to resistance to change. This resistance can result in a slow adoption of new technologies that could otherwise improve productivity and efficiency. The reluctance to embrace beneficial technologies can put Customaria at a competitive disadvantage compared to economies that are more open to innovation.
3. Dissatisfaction Among People: If people in Customaria express more dissatisfaction with their lives, this could indicate a lower quality of life compared to other economies. Such dissatisfaction might stem from limited economic opportunities, lower standards of living, or a lack of personal freedoms, including the freedom to choose one's occupation or lifestyle. High levels of dissatisfaction can lead to social unrest and can be a barrier to attracting investment and talent.
4. Restricted Occupational Choices: When occupational choices are restricted, individuals may not be able to pursue careers that align with their skills, interests, or the market's needs. This can lead to inefficiencies in the labor market and can prevent the economy from reaching its full potential. It can also lead to brain drain if talented individuals leave Customaria in search of better opportunities elsewhere.
In summary, these weaknesses highlight the challenges that Customaria faces due to its adherence to traditional practices and customs. Addressing these issues would require careful consideration of how to maintain cultural values while fostering economic growth and improving the well-being of its citizens.
Larimer Corporation prepares its financial statements in accordance with IFRS. Larimer acquired equipment by issuing 5,000 shares of its common stock. How should this transaction be reported on the statement of cash flows?
Answer:
It should be reported in the notes to the financial statements as a noncash transaction
Explanation:
Boris Turner, CFE, was hired to investigate some suspicious activity in the accounts receivable department of One Man and a Truck. While examining the company's accounting records, she noticed severa payments posted to customers' accounts that were later reversed with journal entries to "courtesy discounts." What type of scheme might this situation indicate?
Answer:
This involves Cash Larceny of Receivables
Explanation:
Cash Larceny of Receivables involves stealing of cash that has already been recorded in a companie's books for a specific period.
Forced adjustment entries are posted (reversed journal entries) to balance the companie's accounts.
For example, if cash is received from a customer and posted to his account. After theft of the physical cash, journal entries are posted to reduce balance on customer's account. This is done in a bid to force balance the account and physical cash on hand.
Note: Cash Larceny is more easily discovered compared to Skimming.
In Cash Larceny entries are posted to the companie's books and this leaves an audit trail. While in Skimming the fraudster does not record initial receipt of cash.
Answer:
Explanation:
Cash larceny of receivables is the act of stealing cash that has already been recorded i in the books of company accounts at a specific period. This fraud, which is wrecked by an employee and the employer is unaware of it.
After stealing money from the employer, some employees may reverse certain transactions as a way of covering up the cash larceny. They can do this by recording returns that are deceptive and false voids as a way of reducing the amount of cash balance that is reflected in the register log.
Reversing transactions is a way of reducing the balance shown on the register log so that it equals the cash on hand. Like in the case posted in the question the investigator noticed several payments posted to a customers account were later reversed with joirnal entries to "courtesy discounts" , which shouldn't be so. This is a case of cash larceny
: Joe is one of the lead accountants for his company. Last month he was pressured to prepare the financial reports more quickly than usual, which led to errors that went undetected. Joe’s manager was very upset about this, and explained that he was negatively impacting the whole company with his mistakes. Why does the manager react in this manner? A : In order to lower the company’s capital allocation, they need to have timely, reliable financial reports. B : In order to increase the productivity rate at the company and decrease the capital allocation, they need to have reliable financial reports. C : The resources at Joe’s company are limited, and financial reports that are timely and reliable will help attract investment capital. D : The resources at Joe’s company are abundant, and correct financial reports will help attract investment capital.
Answer:
C) The resources at Joe’s company are limited and timely, reliable financial reports will help attract investment capital.
Explanation:
Financial reports are like pictures taken to the company, they do not show how the company is currently working, instead it shows how the company was working at a specific point in time.
Investors usually decide on which companies to invest or not based on the company's financial reports and their own analysis of how the company is being managed. So if you present financial reports that are not properly elaborated and contain mistakes, that shows two negative aspects of the company: either the company's financial health is not that good, or the company is not being properly managed, or both (which is even worse).
Either way those mistakes will cause serious problems to upper management.
Richard purchased a computer for $600 in 2015. Compared to the $900 computer that he had purchased back in 2011, the new one seems to be more efficient in terms of the price he has paid and the power of the microprocessor technology. This is best explained by ___________
Answer: Moore's Law
Explanation: Moore's Law was due to an observation in the trend of microprocessors, predicting an increase in the efficiency, speed and capability of computers also boasting a lower price than preceeding computers. It basically preaches an exponential growth where a newer, smaller, and more powerful transistors installed on a computer is sold at about half the price of it's predecessors about every two years.
Cameron has applied for a loan to expand his young business. When bankers look for evidence of whether he will be able to repay a loan, they usually base their assessment on what?
Answer:
what Cameron's firm has done in the past.
Explanation:
Small businesses do request for loans in some cases when they aim at using borrowed funds as capital to become more profitable in their business. When such requests are made, the bank can decide to look at what has been done in the past by the firm to ascertain if they can be able to repay the loan. They usually look at the current and past loans (If any) and debts that have been incurred by the business. In some cases, they also examine the bank accounts the business won and their tax IDs, etc.
In 2011, the value of the GDP deflator is 113. (Enter your response rounded to the nearest whole number.) In 2012, the value of the GDP deflator is 119. (Enter your response rounded to the nearest whole number.)
Answer:
2011 = 113
2012 = 119
Explanation:
The computation is shown below:
GDP deflator = (Nominal GDP) ÷ (Real GDP) × 100
For 2011, it would be
= ($13,495 billion) ÷ ($11,919 billion) × 100
= 113
For 2012, it would be
= ($14,241 billion) ÷ ($12,007 billion) × 100
= 119
In order to find out the GDP deflator, we divided the Nominal GDP by the Real GDP
The GDP deflator is a price index that measures inflation or deflation in an economy by comparing Nominal GDP and Real GDP. It is calculated by dividing Nominal GDP by Real GDP and multiplying by 100.
Explanation:The GDP deflator is a price index that measures inflation or deflation in an economy. It is calculated by dividing Nominal GDP by Real GDP and then multiplying by 100. For example, if the Nominal GDP is $100,000 and the Real GDP is $45,000, then the GDP deflator will be 222. This means that prices have increased by 122% since the base year.
The average cost of production for a bottle of vitamin water in the industry is $4 while its average price is $7. StoreAll Inc. manufactures the same product for $3 per bottle and sells it for $7 per bottle.
Which of the following statements is most likely true of StoreAll Inc. in this scenario?
A. It has a competitive advantage in the industry.B. It has a competitive disadvantage in the industry.C. It has competitive parity with other firms in the industry.D. It has formed a strategic alliance with other firms in the industry.
Answer:
A. It has a competitive advantage in the industry
Explanation:
Competitive advantage is a condition where one company has an advantage of making or producing the same product for lesser costs or other benefits.
There are two main types of competitive advantages . One is the external and the other is the internal. The external factors include the advantages of sale over other industries or market pricing or other marketing strategies. the internal factors include the lower costs or high standard production etc.
If a restaurant offers a steak on the menu that costs $5 and sells for $14.95, the contribution margin is __________ for every steak sold.
Answer:
$9.95
Explanation:
Contribution Margin represents the difference between the variable cost of a product and the revenue derived from its sales. It shows the net amount contributed by sales to cover profits as well as fixed costs.
Contribution margin is calculated by subtracting Variable Cost from Sales
CM= Sales- Variable Cost.
Sales represent the revenue derived from selling a product and Variable Cost is the cost that can be directly traced or directly affects the manufacture of the product sold.
In the question:
Variable Cost- $5
Sales Revenu is $14.95
CM= $14.95 - $5 = $9.95
The forward-looking process of coordinating assets to optimize the delivery of goods, services and information from supplier to customer, balancing supply and demand is called___________________.
Answer: Supply chain planning.
Explanation:
Supply chain planning is a comprehensive plan a production company has in place that ensures, the smooth and effective running of operations involved in the supply chain. Supply chain planning involves planning for factors within and outside the company which includes: raw materials and resources gathering, production and distribution of products.
[Related to Application 1.3] In 2013, the International Monetary Fund suggested that nations impose a one-time 10% tax on all accumulated individual wealth as a means to solve governments' financial problems. What kind of behaviors would this tax be likely to create? Group of answer choices This will likely incentivize people to accumulate wealth in the future. Governments will be more likely to adopt command economies. This will likely deter people from accumulating wealth in the future. Governments will be more likely to adopt market systems.[Related to Application 1.3] In 2013, the International Monetary Fund suggested that nations impose a one-time 10% tax on all accumulated individual wealth as a means to solve governments' financial problems. What kind of behaviors would this tax be likely to create? Group of answer choices This will likely incentivize people to accumulate wealth in the future. Governments will be more likely to adopt command economies. This will likely deter people from accumulating wealth in the future. Governments will be more likely to adopt market systems.
This will likely deter people from accumulating wealth in future.
Answer: Option 3.
Explanation:
Taxes are the amount of money that the citizens have to pay to the government. It is obligatory in nature. And in return to these taxes, the government will provide services to the citizens of the country.
But since the citizens have to pay to the government from their own personal income, so it pinches the citizens. An additional tax on the wealth of the citizens will deter the people to save and accumulate the wealth in future and will not motivate them.
The central theme of the concept of _____ is that all of an organization's promotional elements and marketing activities reach out consistently and in a unified manner with its customers.
Answer: Integrated marketing communication
Explanation:
The integrated marketing communication is one of the type of organizational promotional method where we using the different types of medium for communicating with the audience about the new products produced by an organization in the market.
The main objective of the IMC ( Integrated marketing communication) is that it helps in boost the profits and the sales of the company.
By using this method we can easily communicate with the audience or consumers about the products and the services.
According to the question, the IMC is the concept that include all the marketing activities in more unified manner with the consumers in the market.
Therefore, Integrated marketing communication is the correct answer.
Integrated Marketing Communications (IMC) is a strategic marketing approach that ensures consistency in all of an organization's promotional and marketing activities, reinforcing a cohesive brand message and image.
The central theme of the concept mentioned in the question is Integrated Marketing Communications (IMC). This strategic approach to marketing ensures that all of an organization's promotional elements, such as advertising, the marketing mix, and other marketing activities, consistently and cohesively communicate the brand's message to its customers. The theme of a brand is relayed through various means: the message content, the product itself, the visual aspects such as color choices, layout design, and graphic elements. The aim is to create a consistent brand image across all platforms.
In achieving IMC, the consistency of the core message is key. It must be articulated across all social media platforms, through the marketing mix's composition of price, promotional activities, location, and sales channels, and during direct customer interactions. By maintaining a consistent brand "feel" or personality, customers receive the same brand experience regardless of the point of contact, which can improve brand loyalty and overall marketing effectiveness.
If the price of good X increases by 2%, and that causes the quantity demanded of good Y to decrease by 15%, then the cross elasticity of demand for good Y, with respect to the price of good X, is
Answer:
-7.5%
Explanation:
Cross elasticity of demand is the degree of responsiveness of the quantity of a commodity, Y in this case, to the change in the price of another commodity, X in this case.
Cross elasticity of demand is measured as a percentage change in the quantity of commodity Y divided by the percentage in the price of commodity Y. This can be written mathematically as follows:
Ec = % Change in the quantity of commodity Y divided by the percentage in the prie of commodity X.
Where Ec denoted cross elasticity.
Applying the formula to this question, we have
Ec = -15%/2% = -7.5%
Note that under cross elasticity of demand:
1. Two goods are substitute if the value of their cross elasticity of demand is positive. That is, an increase in the price of good one, good X, will lead to an increase in the quantity demand of the second, good Y.
2. Two goods are complimentary if the value of their cross elasticity of demand is negative.That is, an increase in the price of good one, good X, will lead to an decrease in the quantity demand of the second, good Y.
Therefore in this question, goods X and Y are complimentary because the value of their cross elasticity of demand is -7.5% which is negative.
I wish you the best.
The cross elasticity of demand for good Y, with respect to the price of good X, is -7.5, indicating that they are substitute goods.
Explanation:The cross elasticity of demand measures the responsiveness of the quantity demanded of one good (Good Y) to a change in the price of another good (Good X). It is calculated as the percentage change in quantity demanded of Good Y divided by the percentage change in price of Good X.
In this scenario, the price of Good X increases by 2% and this causess the quantity demanded of Good Y to decrease by 15%. Hence, we can use the formula to calculate the cross elasticity of demand:
Cross Elasticity of Demand = % Change in Quantity Demanded of Good Y / % Change in Price of Good X = -15% / 2% = -7.5
This means that for every 1% increase in the price of Good X, the quantity demanded of Good Y decreases by 7.5%. The negative sign indicates that goods X and Y are substitute goods, meaning that as the price of Good X increases, consumers buy less of Good Y.
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Which of the following scenarios most accurately reflects the concept of scarcity?
1. The steak Henry did not buy because he is a vegetarian.
2. Brett is a farmer with an open field on which he can plant either soybeans or corn.
3. Sienna enjoys viewing flowers in the city garden during her walk.
4. The Smith Household produces an average of three bags of trash a week.
Answer:
2. Brett is a farmer with an open field on which he can plant either soybeans or corn.
Explanation:
Scarcity in economics means the resources available to meet man's needs are limited or scarce.
In brett's case, land is limited, so he has to choose between planting soybeans and corn.
I hope my answer helps you
The best depiction of scarcity is that 2. Brett is a farmer with an open field on which he can plant either soybeans or corn.
What is Scarcity?It refers to the notion that we cannot produce everything we want at a go. It comes as a result of not having enough resources to pursue everything we want.Brett can either plant soybeans or corn and not both. This shows scarcity because he does not have enough resources to plant both of them.
In conclusion, option B is correct.
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Which of the following is a capital budgeting technique that converts a project's cash flows using a more consistent reinvestment rate prior to applying the Internal Rate of Return, IRR, decision rule?A. discounted payback
B. net present value
C. modied internal rate of return
D. protability index
Answer:
c. modified internal rate of return
Explanation:
Modified internal rate of return ( MIRR ) -
The modified internal rate of return is used in order to rank the projects or the investment that are of unequal size.
The assumption involved is that the positive flow of cash are again invested to the firm and the initial outlays are financed during the firm's financing cost , is referred to as the MIRR.
MIRR is very accurate in comparison to the traditional internal rate of return (IRR) and gives the profit and cost of the project with more accuracy.
Hence , from the given information of the question,
The correct option is c. modified internal rate of return .
The Modified Internal Rate of Return (MIRR) is the capital budgeting technique that adjusts project cash flows using a consistent reinvestment rate before applying the IRR decision rule. It provides a more accurate reflection of project returns by adjusting interim cash flows using a reinvestment rate that differs from the project's IRR.
Explanation:The capital budgeting technique that converts a project's cash flows using a more consistent reinvestment rate prior to applying the Internal Rate of Return, IRR, the decision rule is C. Modified Internal Rate of Return (MIRR).
MIRR is a refinement of the traditional IRR technique and it adjusts the cash flow of a project to estimate a more accurate and realistic rate of return. This is done by assuming a reinvestment rate for the interim cash flows that differ from the project's IRR, providing a more true reflection of the project's real cost and value.
By contrast, other options like Net Present Value (NPV), Profitability Index, and Discounted Payback, do not adjust for this factor in the calculation of project returns.
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