In a free-market economic system, consumers have the power to decide whether or not to purchase a product based on their perceived value of it. If they deem the price to be too high for the value received, they are likely to avoid buying it.
In a free-market economic system, if consumers perceive the price for a state-of-the-art smartphone as too high for the value received, they are likely to avoid buying it. This is because in a free-market system, consumers have the freedom to make purchasing decisions based on their own perceived value of a product. If they feel that the price is too high, they may choose to wait for a price drop or consider purchasing a different, more affordable option.
For example, if a consumer sees a state-of-the-art smartphone priced at $1,500 but feels that the features and benefits of the phone do not justify the high price, they may choose not to buy it. Instead, they might opt for a smartphone with similar features but at a lower price point, or wait for the price to decrease.
In summary, in a free-market economic system, consumers have the power to decide whether or not to purchase a product based on their perceived value of it. If they deem the price to be too high for the value received, they are likely to avoid buying it.
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Final answer:
In a free-market economic system, prices influenced by supply and demand can be misinterpreted by consumers when using price as an indicator of quality, especially in markets with imperfect information. This can lead to unexpected market behavior that deviates from the standard demand and supply model. Over time, the market adjusts as information spreads and consumers become more informed about the true value of products.
Explanation:
In a free-market economic system, the interaction of supply and demand determines the prices of products and services. However, when consumers perceive the price of a product as a signal of its quality, this can disrupt the typical market behavior. For instance, a used car dealer who lowers prices to increase sales may inadvertently signal to consumers that the cars are of low quality, deterring rather than attracting buyers. Conversely, increasing prices might create an impression of higher quality, potentially increasing demand. This phenomenon, which contradicts the basic demand and supply model, illustrates the complexities of a market with imperfect information.
Consumers' buying habits are influenced by their subjective valuations, and they are likely to adjust their purchasing decisions as better and more cost-effective options become available or as their personal circumstances change. Ultimately, the natural limits of price perception come into play, and excessively high prices will reduce demand, while very low prices may increase it, once consumers recognize the actual value of the products. Over time, information asymmetry diminishes as information spreads, helping to correct market distortions caused by misinterpretations of price signals.
Companies typically start their international foray with ________, which involves working through independent intermediaries who sell their products abroad.
a) indirect exportingb) licensingc) franchisingd) direct exportinge) joint ventures
Answer:
A. Indirect exporting
Explanation:
An indirect export is a method of selling in the international market by a company in which they sell their products to an individual or an organisation that will act as an intermediary between the company and its potential customers in that country. It is most a method of entering a new market and it is most useful because it comes with lesser cost and risk as these risks and costs is transferred to the intermediaries acting on behalf of the company in that country.
Zinc Co.’s adjusted trial balance at December 31, Year 6, includes the following account balances: Common stock, $3 par $600,000 Additional paid-in capital 800,000 Treasury stock, at cost 50,000 Net unrealized holding loss on available-for-sale securities 20,000 Retained earnings: Appropriated for uninsured earthquake losses 150,000 Retained earnings: Unappropriated 200,000 What amount should Zinc report as total equity in its December 31, Year 6, balance sheet?a. $1,680,000
b. $1,720,000
c. $1,780,000
d. $1,820,000
Answer:
a. $1,680,000
Explanation:
The computation of the total equity is shown below:
= Common stock + Additional paid-in capital + Appropriated for uninsured earthquake losses retained earnings + Unappropriated retained earnings - treasury stock - Net unrealized holding loss on available-for-sale securities
= $600,000 + $800,000 + $150,000 + $200,000 - $50,000 - $20,000
= $1,750,000 - $70,000
= $1,680,000
Skyscape, a company that manufactures computer processors, launched a new product called chipone. this launch was a countermove against another product launched by greenchip, skyscape's competitor. which of the following strategies was used by skyscape to defend its market share?
A. response strategy
B. amalgamation strategy
C. recovery strategy
D. acquisition strategy
Answer:
Letter A is correct. Response strategy.
Explanation:
The alternative that best suits the strategy used by the Skyscape company is the response strategy, whose main objective is the development and implementation of strategic actions so that the company can achieve better opportunities and reduce the risks associated with the market.
This strategy helps to prevent and monitor the risks inherent to the internal and external environment of the business.
A broker produces a supposedly ready, willing and able buyer. At closing, the seller is unable to provide marketable title to the property and the buyer cannot come up with the financing to purchase the home. Is the broker due a commission?
Answer:No
Explanation:By sense of duty, the broker should be should be considered for a commission .But by reasonable conclusion,No.This is to buttress that point,that commissions are only paid on sales.There was no sale so no commission for the broker.This justify the saying that effort is not enough but result. The broker should have properly validated all the documents before bringing in a buyer.It sure part of his duty.The broker is therefore entitled to no commission on negligence of duty
Equipment, real estate, and construction are examples of capital acquisitions, but information technology is not.A. TrueB. False
Answer:
False. Even Information Technology can be considered as capital acquisition.
Explanation:
Capital acquisition means the way through which new assets are purchased for business expansion and growth.
Equipments, real estate and construction are all tangible assets and considered as capital assets whose life is usually greater than 1 year.
Any acquisition which serves a business for long term which is generally for more than one year shall be termed as capital acquisition.
Even software and patents acquired can be termed as capital acquisition if useful life of those exceeds an year.
Thus, Information technology can be considered a capital acquisition if it's useful life for business is more than an year.
Fletcher is an executive at Fresnas Inc., a clothing manufacturer. He communicates with clients to analyze what features consumers desire. Additionally, he records the quality improvements that consumers and clients suggest. In this scenario, Fletcher is trying to:a. differentiate heavy users from light users. b. select the target market. c. learn whether consumers are currently satisfied with the offerings. d. differentiate the brand from the competition.e. identify the size and profitability of each consumer segment.
Answer:
C) learn whether consumers are currently satisfied with the offerings.
Explanation:
Fletcher is basically conducting a survey to determine consumer satisfaction, preferences and suggested improvements. It is very important to periodically perform consumer satisfaction surveys to get feedback about changing consumer expectations.
Consumers very quickly assume that better services or better products should be the norm. For example, a PC manufacturer starts to expand their product warranty from one year (industry standard) to three years. Soon customers will expect that all PC manufacturers offer the three year warranty.
If consumer expectations are important for most goods and services, they are vital and extremely important for clothing manufacturers. Clothing styles change every season, so consumers expect radical positive changes every few months.
Managers’ responsibilities in an organization include decision making and continuous feedback. Of the three direct responsibilities of a manager, which one covered comparing the actual results to the budget the manger is responsible for?
Answer:
It is called controlling
Explanation:
Controlling has to do with ensuring that actual result is in line with target objectives or budget and where there is variance, this is investigated and corrective actions are taken .
Sometimes, this is called management by objectives. At the beginning of the period, budgets are prepared but most times, things may not work out as planned. Hence, there is need for controlling the results to ensure that organization's objectives are ultimately achieved.
A shoe company's ads feature the members of a popular country music band. Product sales increase significantly among the band's fans. From the fans' viewpoint, the band is a ________. Group of answer choices a) membership b) group reference c) group subculture d) laggard.
Answer:
The correct answer is option (B).
Explanation:
According to the scenario, the most appropriate answer is option (B) because the member of the music band when it comes to advertisement wearing particular company shoes, it becomes a reference for the fans of that band and shoe company sales increases.
While the other options are not appropriate because of the following reasons:
Membership is a concept to get a subscription or become a customer but the scenario doesn't show any type of membership with the band. Group subculture is incorrect because subculture is a concept where there are differences within the same culture. Laggard is incorrect because the members of the band is not copying anyone.Amy agreed to a contract price of $100,000 for a home and secured a mortgage loan for $80,000. If the appraised value is $110,000, what is the loan to value ratio?
Answer:
loan to value = 80%
Explanation:
given data
contract price = $100,000
mortgage loan = $80,000
appraised value = $110,000
solution
we get here loan to value ratio that is
loan to value = [tex]\frac{loan}{contract\ price}[/tex] .................1
here lender use less of contract price or appraised value
so put here value in equation 1 we get
loan to value = [tex]\frac{80000}{100000}[/tex]
loan to value = 0.80
loan to value = 80%
Consider Paul's decision to go to college. If he goes to college, he will spend $90,000 on tuition, $15,000 on room and board, and $7,000 on books. If he does not go to college, he will earn $22,000 working at a construction job and he will spend $11,000 on room and board. Paul's cost of going to college is A. $96,000. B. $123,000. C. $110,000. D. $114,000.
Answer:
B. $123,000
Explanation:
The computation of the Paul's cost of going to college is presented below:
= Tuition fees + room and board charges + books expenses + earning as a construction job - room and board charges
= $90,000 + $15,000 + $7,000 + $22,000 - $11,000
= $123,000
We simply deduct the room and board charges while working as a construction job and the other items would be added
The cost of Paul going to college, considering both his college expenses and the opportunity cost of lost salary and living expenses if he doesn't go to college, amounts to $123,000.
Explanation:The subject of this question is Mathematics, specifically in the area of cost analysis. When considering the cost of going to college, Paul needs to account for all the expenses associated with college, including tuition, room and board, and books. Therefore, his total expenditure for going to college would be the sum of these costs, which is $90,000 (tuition) + $15,000 (room and board) + $7,000 (books) = $112,000. However, if Paul chooses not to go to college, he wouldn't just save on these expenses. He would also earn a salary from his construction job, and his room and board expenses will still exist. In this case, his effective cost (if he doesn't go to college) would be his lost salary minus his room and board expenses, which is $22,000 (salary) - $11,000 (room and board) = $11,000. So, the actual cost to Paul for going to college, considering what he would earn and spend if he doesn't go to college, is $112,000 (college costs) + $11,000 (net cost if not going to college) = $123,000. Therefore, the correct answer is B. $123,000.
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Philosophers draw a distinction between positive statements, which describe the world asit is, and ___________________s, which describe how the world should be.
A. normative statement
B. budget constraint
C. trade-of
D. opportunity cost
Answer:
Normative statement
Explanation:
A normative comment makes a conclusion on meaning. Such a decision is the presenter's viewpoint; nobody can "confirm" whether or not the comment is true. Since individuals have different principles, ethical pronouncements also create discord.
An economist whose beliefs allow him to claim that we ought to provide more help to the needy will compete with one whose ideals contribute to a determination that we ought not.
It is not uncommon for people to present an argument as constructive, to render it more compelling for an audience when it already has negative elements. Sources of this are opinion pieces in magazines or on other outlets. That is why it is critical that we can distinguish among constructive and negative statements.
Suppose that in Mexico, it takes three labor hours to produce one shirt and 15 labor hours to produce one computer. Suppose that in the United States, it takes two labor hours to produce one shirt and 4.5 labor hours to produce one computer. Which country has the comparative advantage in the production of computers, and why?
The United States has a comparative advantage in producing computers because, given the number of labor hours required in each nation, the US sacrifices fewer shirts to produce one computer compared to Mexico.
Explanation:The principle of comparative advantage suggests that each country should specialize in the provision of goods for which it requires fewer resources or less time for production. In this case, we look at the number of labor hours required to produce one unit of a good: a shirt or a computer, in Mexico and the United States.
In Mexico, it requires 3 labor hours to produce a shirt and 15 labor hours to produce a computer. So, producing a computer in Mexico takes the equivalent of 5 shirts (15/3).
In the United States, it takes 2 labor hours to produce a shirt and 4.5 labor hours to produce a computer. Hence, producing a computer in the United States takes the equivalent of 2.25 shirts (4.5/2).
Given these ratios, the United States has a comparative advantage in producing computers because it sacrifices fewer shirts to produce a computer, compared to Mexico.
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The concept that under the right circumstance, groups are smarter than the individuals in them is referred to as _____. A. crowdsourcing B. social networking C. wisdom of the crowds D. anticonsumption E. folksonomy
Answer:
c. wisdom of the crowds
Explanation:
Wisdom of the crowds -
According to this concept , the larger group of people are smarter than any individual expert , in the process of innovation , decision making and problem solving is referred to as wisdom of the crowds.
This very concept was first given by James Surowiecki .
Hence, from the given scenario of the question,
The correct term is wisdom of the crowds .
A company sells horse shoes. The company's fixed and variable costs are modeled by the function C(x)=5.6x+1,200. Their revenue is modeled by the function R(x)=7.4x. If x represents the number of horse shoes, how many do they have to sell to break even? Round your answer up to the nearest whole number, and do not include units.
Answer:
667 horse shoes
Explanation:
Given that,
The company's fixed and variable costs are modeled by the function
Cost function: C(x) = 5.6x + 1,200
Revenue function: R(x) = 7.4x
x ⇒ represents the number of horse shoes
For break even,
Cost = Revenue
5.6x + 1,200 = 7.4x
7.4x - 5.6x = 1,200
1.8x = 1,200
x = 667
Therefore, they have to sell 667 horse shoes to break even.
Suppose that salsa sells for $4 in year 1 and $5 in year 2. A bag of tortilla chips sells for $6 in year 1 and $5 in year 2. Further assume that year 1 is the base year. If 200 jars of salsa and 400 bags of tortilla chips are sold in year 2, the real gdp is $___.
Answer:
$3,200
Explanation:
With 200 jars of salsa and 400 bags of tortilla chips sold in year 2,
Nominal GDP in year 2, is the value of total sales using year 2 prices
Therefore, Nominal GDP = (200 * 5) + (400 * 5)
= 1,000 + 2,000
= $3,000.
Real GDP in year 2 is the value of total sales using the prices of the base year (year 1, in this case)
Therefore, real GDP = (200 * 4) + (400 * 6)
= 800 + 2,400
= $3,200.
Final answer:
Real GDP for year 2 is calculated using base year prices, resulting in $800 from 200 jars of salsa and $2,400 from 400 bags of tortilla chips, summing to a total of $3,200 real GDP for year 2.
Explanation:
When calculating real GDP, we use the prices from the base year to value the goods and services produced in a different year. In this example, year 1 is the base year, where salsa sells for $4 and a bag of tortilla chips sells for $6. To calculate the real GDP for year 2, we must value the goods sold in year 2 at year 1 prices. Therefore, we calculate the real GDP for year 2 by multiplying the quantity of each good sold in year 2 by its base year price, and then summing those amounts.
The calculation would be as follows:
200 jars of salsa × $4 (base year price) = $800400 bags of tortilla chips × $6 (base year price) = $2,400The total real GDP for year 2 would therefore be the sum of these two amounts, which is $800 + $2,400 = $3,200.
Savvy Skin Care, a U.S.-based beauty products manufacturer, has set up a manufacturing plant in Hong Kong. This is an example of_________.
a.global rivalry.
b.the globalization of markets.
c.exporting.
d.foreign direct investment.
e.international trade.
Answer:
Foreign Direct Investment
Explanation:
If Savvy Skin Care, is a U.S.-based beauty products manufacturer and has set up a manufacturing plant in Hong Kong. This is an example of Foreign Direct Investment.
Foreign Direct Investment (FDI) is when an a firm or individual in one country makes investment into business interests in another country.
In the scenario above, Savvy Skin Care is a firm in the U.S. but is making investments in pursuit of business in another country. This is an exact example of Foreign Direct Investments
A statement that makes a factual claim about how the world actually works is called a positive statementA statement that makes a claim about how the world should be is called a normative statement Innovation refers too A new producto A truly new idea
Answer:
A statement that makes a factual claim about how the world actually works is called a positive statement. A statement that makes a claim about how the world should be is called a normative statement TRUE
Innovation refers to: a new product or service
Explanation:
Positive statements can be tested, and therefore they can be corrected. E.g. the US economy is the largest in the world.
Normative statements are based on values, judgments, and opinions, there is no clear right or wrong. E.g. the US economy is the best in the world.
In order for a new idea to become an innovation, it must be converted into a new product or service, or improve an existing product or service. Science generates ideas, but technology is the application of those ideas, it generates innovations.
In Social Studies, positive statements make factual claims about how the world works, while normative statements express opinions about how the world should be. Innovation refers to new products or ideas that bring about change and improvement.
Explanation:In Social Studies, a statement that makes a factual claim about how the world actually works is called a positive statement. It is based on evidence and can be proven true or false. On the other hand, a statement that makes a claim about how the world should be is called a normative statement, which is subjective and opinion-based.
In terms of innovation, it refers to a new product or a truly new idea that brings about change and improvement. Innovation can occur in various fields such as technology, science, and business.
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During the lookback period of July 2017 to June 2018, Adventure Ski LLC reported federal employment taxes for the four quarters as follows: $15,200, $15,800, $4,200, and $17,600. Therefore, in 2019 they will be required to:
Answer:
Adventure Ski LLC will file a form 941 for the four-quarter period. That is for total amount of $52,800.
Explanation:
When filing form 941 in 2019 it will be against four quartets from July 2017 to June 2018. The companie's tax obligation will be on 15,200+15,800+4,200+17,600 =$52,800
The guideline for tax payment is:
1. When the amount filed is below $50,000, tax deposits are made monthly.
2. For tax payments above $50,000 tax deposits are semi-weekly.
It is important to note that when deposits are delayed by 1 to 5 days the company will be fined 2%. Delay of 6 to 15 days will attract a fine of 5%.
During the lookback period of July 2017 to June 2018, Adventure Ski LLC reported a total of $52,800 in federal employment taxes. Therefore, in 2019, they will be considered a semi-weekly depositor as their tax liability exceeded $50,000 during the lookback period.
Explanation:The question refers to federal employment taxes and a lookback period. The lookback period is a specific 12-month period used by the IRS to determine how often a business needs to deposit their employment taxes (monthly or semi-weekly). In this case, the lookback period is from July 2017 to June 2018.
The total federal employment taxes reported by Adventure Ski LLC during this time is the sum of the four quarters: $15,200 + $15,800 + $4,200 + $17,600 = $52,800.
In 2019, if Adventure Ski LLC's total tax liability during the lookback period is $50,000 or less, they are a monthly depositor. If it's more than $50,000, they are a semi-weekly depositor. Therefore, given that their tax liability during the lookback period was $52,800, Adventure Ski LLC will be considered a semi-weekly depositor in 2019.
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If a market basket was defined in 2014 and it cost $10,000 to purchase the items in that basket in 2014, while it cost $11,000 to purchase those identical goods in 2015, then the price index for 2015 is _________.
Answer:
110
Explanation:
The computation of the price index is presented below:
= (Cost of purchase those identical goods in 2015) ÷ (Cost to purchase the items in 2014) × 100
= ($11,000) ÷ ($10,000) × 100
= ($11,000) ÷ ($10,000) × 100
= 110
We simply applied the above formula so that the price index could come by considering the cost of 2014 and cost of 2015
Chelsea is a listing agent working for the listing broker and encounters a customer at the open house. The customer asks Chelsea if she could recommend an offering price. Chelsea should recommend that the customer:
Answer: NO, Chelsea is responsible to the seller and not to the buyer.
Explanation: A listing agent is a person or an organisation who acts as a third party in a business transaction mandated to represent the agent of his or her principal in this case the seller. Chelsea is a listing agent he is expected to work as agreed with his principal who is the seller. Recommending a price to the seller will mean that he is betraying the agreement between him and his principal who is the seller. The customer has to source for an agent who is specialized in price negotiation to give the recommended price or stand on his behalf
Adam Smith a. and David Ricardo both opposed free trade. b. opposed free trade, but David Ricardo supported it. c. supported free trade, but David Ricardo opposed it. d. and David Ricardo both supported free trade.
Answer:
Adam Smith;
d. and David Ricardo both supported free trade
Explanation:
A free market is a market where international trade relations is subjected minimal interference from the government. Government interference are usually in the form of tariffs, quotas and other restrictions. Adam Smith was a staunch advocate of free trade. He argued that people were ca[able of reasoning and thus should object to unreasonable government regulations on them. Using the policy of Laissez-Faire which argued that government intervention on the economy should be minimal. According to Smith, the natural laws of supply and demand should take cause to balance the market properly.
David Ricardo was also a strong advocate for free trade. He use the theory of comparative advantage to prove his point. The law of comparative advantage states that one needs when one country can produce a good or service at a lower cost than the other country, then they have comparative advantage over that country. Therefor they will produce more of that good that they have an advantage over as compared to another good or service that is more costly. This law he argued could be used in international free trade.
We can conclude that Adam Smith and David Ricardo supported the concept of free trade.
Answer:
uhhhh
Explanation:
c?
Which of the following does a firm possess when it can outperform other firms in the same industry or the industry average over a prolonged period of time?1. consistent power position2. sustainable competitive advantage3. strategic positioning4. long-term capital gain
Answer:
sustainable competitive advantage
Explanation:
Sustainable competitive advantage refers to the abilities of a company that allows the company or firm to outperform its competitors and provide a superior or favorable long term position over competitors.
It allows the firm to have better sales, more profit margin, more customers and a larger market share than its competitors in the same industry
A _______ account represents the basic financial position elements of the accounting equation and a _______ account keeps track of the changes in the retained earnings component of shareholders' equity.
Answer:
Balance Sheet
Statement of Changes in Shareholders equity
Explanation:
A Balance Sheet account represents the basic financial position elements of the accounting equation and a Statement of Changes in Shareholders Equity account keeps track of the changes in the retained earnings component of shareholders' equity.
A balance sheet in financial accounting, is a statement of financial position or statement of financial condition which shows all the assets, liabilities, and capital of a profit or not-for-profit organization at a given date.
A statement of changes in shareholders equity is a financial statement that shows a summary of all movements that took place in shareholders' equity accounts within a reporting period. It is in a nut-shell a reconciliation of the opening balances of equity accounts with their closing balances.
HELP PLEASE BRAINLEST It is ethical to hold negative opinions about people. Please select the best answer from the choices provided T F
Answer:
True
Explanation:
The given statement that holding negative opinions over other people is ethical is completely false.
What are opinions on ethics?Weak negative ethical theories aim to lessen suffering and increase happiness, yet they are frequently accused of giving pain a greater priority than happiness.
The belief that morality is merely a matter of opinion ultimately acts as a barrier to moral reflection and ethical thought.
This is exactly what the inclination to view moral issues as subjective viewpoints do. The outright assertion that the solution to any moral quandary is a matter of opinion stops investigation before it even gets going.
It is typically regarded as positive to be tolerant of different moral worldviews. Moral difficulties can evoke strong emotions in various people, making it appear disrespectful to correct them.
Therefore, as a result, it is completely false and unethical to hold negative opinions about people. Hence, false is the answer.
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Without adjusting for PPP, emerging economies contribute about 30% of the global GDP. Adjusting for PPP, they now contribute approximately 50% of the global GDP. The reason there is a huge difference between the two measures is because
Answer:
A) the cost of living in emerging economies tends to be lower than that in developed economies.
Explanation:
It is usually cheaper to live in emerging countries than on developed countries. Generally speaking, the salaries in emerging countries are much lower than salaries at developed nations, for example a Chinese worker earns on average approximate $12,077 per year, while an American worker earns $44,720 per year. Chinese workers live with their salary and their families also live with it, so we can assume that living in China is cheaper than living in the US.
The purchasing power parity (PPP) is adjusted by the difference in relative prices between countries, e.g. a house in Switzerland costs 10 times as much as a house in Mexico.
In a purely competitive industry:
a. There will be no economic profits in either the short run or the long run.
b. Economic profits may persist in the long run if consumer demand is strong and stable.
c. There may be economic profits in the short run, but not in the long run.
d. There may be economic profits in the long run, but not in the short run.
Answer:
C. There may be economic profits in the short run, but not in the long run.
Explanation:
Perfect Competition is a market structure with very large no of buyers & sellers, transacting homogeneous products, at same price (firms 'price taker') & inelastic demand, with free entry & exit into industry.
Economic profit is the profit earned above normal profit - covering revenues over explicit & implicit costs, necessary to continue business operations.
Free entry & exit into Perfect Competition Industry makes them earn only normal profits - no super normal (economic) profit , abnormal loss in long run
Short Run Economic Profits : Induces new firms entry and supply increases, reducing the industry & firms' price. This reduces their profit & resumes back the normal profits.
Similarly - Short Run Abnormal Losses : Induce existing firms exit, will reduce supply, increase price & profit, resume back to normal profits.
In a purely competitive industry, there may be economic profits in the short run, but not in the long run. Short-term profits can result from high demand, cost advantages, etc., but these attract more firms, increasing competition and eventually leading to only normal profits.
Explanation:In a purely competitive industry, option c is correct: there may be economic profits in the short run, but not in the long run. This is because in the short term, companies can realize economic profits due to factors such as high consumer demand, cost advantages, product differentiation, and more. However, these profits attract other firms into the industry, increasing competition. As more firms enter, the price reduces until it reaches a level where only normal profits are made. A normal profit is wherein the return on investment is just sufficient to keep entrepreneurs in the business, without any extra incentive for risk-taking in the long run.
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The process of getting, training, appraising, and compensating employees, and of attending to their labor relations, health and safety, and fairness concerns is known as:
Answer:
The correct answer is "Human Resource Management (HRM)".
Explanation:
Human resource management ( HRM) can be defined as the management process in a company that helps in completing company goals by maximizing the employees' performance in achieving their goals.
Human resource management works for mainly 5 basic functions. i.e.
Planning: Planning is a concept where plans and rules are developed to achieve the goals.
Organizing: Organizing is a concept that shows the chain and channel of communication and work order for employees.
Staffing: Staffing shows the concept of hiring of employees according to the company needs.
Leading: Leading shows the concept of motivating and appraising employees.
Controlling: Controlling shows the concept of controlling the manpower so that company goals for sales and quality can achieve.
Answer:
The process of getting, training, appraising, and compensating employees, and of attending to their labor relations, health and safety, and fairness concerns is known as Human Resource Management.
Explanation:
(1) Human Resource Management is basically the management of the processes from start to end with respect to the people thought to be a part of the organization in the near future. The starting processes include getting, training and compensating people also and the end processes include compensating employees, attending to their labor relations, health and safety and fairness concerns.
(2) Human Resources i.e. the people are the biggest asset of an organization and thus are referred to as Human Capital. Their good management can make the smaller businesses rise to bigger businesses. The objectives of the organisation and the human resources should move side by side in, so that both the organisation and the people in it can prosper.
Hence, we can say that human resource management is the key which makes differences between a successful organization and a failed organization possible.
Trade-offs force society such as what goods and services will be produced, how will the goods and services be produced, and who will receive the goods and services produced. Which of the following countries has an economy where the government makes these decisions?
A. Canada.
B. The United States.
C. Japan.
D. North Korea.
Answer:
D. North Korea
Explanation:
Unlike other three nations provided as options, North Korea is a communist nation.
The central problems of an economy relate to answering the three questions of what to produce, how to produce and for whom to produce.
In a communist nation such as North Korea, the government is the supreme authority and citizens of such a nation do not exercise any influence or control on the output which shall be produced.
All the economic decisions are taken by the ruling government in such nations.
Hence, the correct answer is option (D). North Korea
The amount of time between the recognition that an order needs to be placed and the arrival of the needed merchandise at the seller's store to be available for sale is referred to as___________.
Answer:
lead time
Explanation:
Lead time -
It refers to the time period between the initiation and the completion of a particular process , is referred to as lead time.
In case of ordering any object , the time period after ordering , and then receiving the object , is known as the lead time.
In a business , the time of manufacturing any item , packaging and delivering is the lead time .
Hence , from the scenario of the question,
The correct term is lead time.
Bill drives faster than the speed limit only when his friends are in the car with him, because they tell him he is cool. Bill's behavior of driving over the speed limit only when his friends are with him is said to be under ____________ control.
Answer:
STIMULUS
Explanation:
In biology, a cause is a measurable change to the internal or external state of an individual's physical or chemical framework. When a stimulus is delivered to a sensory receptor, by stimulation transduction it usually elicits or affects a response.
Therefore, Bill's behavior of speeding over the legal limit is also said to be included in STIMULUS regulation while his buddies are with him.