Answer:
-1.4
Explanation:
The computation of the price elasticity of demand using mid point formula is presented below:
= (change in quantity demanded ÷ average of quantity demanded) ÷ (percentage change in price ÷ average of quantity demanded)
where,
Change in quantity demanded would be
= Q2 - Q1
= 20,000 - 30,000
= -10,000
And, the average of quantity demanded would be
= (20,000 + 30,000) ÷ 2
= 25,000
Change in price would be
= P2 - P1
= $40 - $30
= $10
And, the average of price would be
= ($40 + $30) ÷ 2
= 35
So, after solving this, the price elasticity of demand is -1.4
The price elasticity of demand for cable television under the given conditions is approximately -1.4, indicating demand is elastic.
Explanation:The price elasticity of demand can be calculated using the midpoint method formula: (change in quantity / average quantity) / (change in price / average price). Let's calculate it for this scenario:
The change in quantity is 20,000 - 30,000 = -10,000 (a decrease, hence the negative sign). The average quantity is (30,000 + 20,000) / 2 = 25,000.
So the quantity part of the equation is -10,000 / 25,000 = -0.4.
The change in price is $40 - $30 = $10. The average price = ($30 + $40) / 2 = $35.he price part of the equation is $10 / $35 = 0.29.
Now, we divide the quantity part by the price part: -0.4 / 0.29. Therefore, the price elasticity of demand is about -1.4 (option d), which means demand is elastic. Remember, ignore the negative sign when stating your final answer – it just indicates that this is a normal good (value decreases as price increases).
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Mova Auto Inc. is analyzing the purchasing power, inflation rate, per capita income, and level of disposable income in the country of Cadmia. Based on this analysis, the company will decide whether to market its products in Cadmia. Which of the following external forces in the marketing environment is the primary focus of Mova Auto Inc. in this scenario?a. Technological and innovative forcesb. Political forcesc. Competitive and economic forcesd. Regulatory forcese. Social forces
Answer:
Option C is correct because Mova Auto Inc is analyzing the competitive factors and economic factors to assess whether or not to enter this market. Mova is assessing the economic conditions to judge whether or not the manufacturing its products here will give any competitive advantage and that will Mova be able to control its costs in the long run. Is is also assessing that with what amount would its investment grow, its demand of the product grow and the customer segment which it must target will also depend on inflation, purchasing power and disposable income.
Your company has completed an audience analysis for the manual you are writing for users of a new accounting system. The manual will be given to the 750 employees in the company's accounting department. Some members of the audience are experienced accountants and others are not; some have MBA degrees and others have bachelor's or associate's degrees; some were recently hired and some are long-term employees; some are managers and some are bookkeepers. How might you best accommodate your audiences?
A. Include different sections for the different audiences.
B. Write the manual to the highest level of the audience.
C. Write the manual to the lowest level of the audience.
Answer:
A
Explanation:
For an accounting manual, if your audience has different background of education then you need to keep different section for different audience. The thing is, if you write it for highest level then bookkeepers will have difficulty in understanding it. If you write for lower level, then it will be useless for higher level of audience.
So the manual should include different section for different audience.
Answer:
A.Include different sections for the different audiences.
Explanation:
Your company has completed an audience analysis for the manual you are writing for users of a new accounting system. The manual will be given to the 750 employees in the company's accounting department. Some members of the audience are experienced accountants and others are not; some have MBA degrees and others have bachelor's or associate's degrees; some were recently hired and some are long-term employees; some are managers and some are bookkeepers. How might you best accommodate your audiences?
Due to the varying class of audiences:some have many years of experience, some middle, some are recently hired, some have some professional degrees(which means that there assessment of your manual will be from a professional standpoint). It is best to include different sections for different audiences while reassuring them that the manual has been compiled bearing their knowledge/experience level on the subject matter in mind.
Let them know that the manual will be of utmost benefit to them, there experience/background notwithstanding.
Option A will be the best
Ownership costs are incurred after the initial purchase and are associated with the ongoinguse of the product or material. Which of the following is not an ownership cost listed in the text? A. Financing costsB. Energy costsC.TaxesD. AestheticsE. Worker fatigue
Answer:
C, Taxes
Explanation:
Tax is the financial levy or charge imposed on an individual by the government to fund its expenditure.
When a product is purchased, the ownership cost of the product does not include tax because a product is not taxable. The income from the product is taxable but not the product itself.
So when purchasing a product, asides from value added taxes which has been included in the product price, there is no continuous tax payment on the product after its been paid for.
Cheers.
Cheizza, a pizza vendor in the country of Wisbane, believes that the taste of fresh cheese in its pizzas is its unique selling point. However, recently there has been a rise in the number of pizza vendors in Wisbane who have also started using fresh cheese to prepare their pizzas. This has led to a drastic increase in the demand for cheese. However, the amount of milk produced in the country is insufficient to meet the increased demand for cheese. In the context of changing environments, which of the following does this scenario best illustrate?
A. Resource scarcity.
B. Punctuated equilibrium.
C. Discontinuous change.
D. Buyer dependence.
Answer:
The correct answer is letter "A": Resource scarcity.
Explanation:
Resource scarcity is the basic economic problem by which individuals have unlimited wants and needs but rely on limited sources to fulfill them. Because of this situation, individuals have to trade-off the satisfaction of part of some needs so others can be satisfied as well.
In the example, the scarce resource is the milk that is useful to produce cheese for the pizzas sold in Wisbane.
Upon examination of his mortgage document, Jared finds a clause stating he will owe additional interest if he pays off his loan within one year of the loan origination date. What type of penalty does this describe?
Answer:
Prepayment penalty
Explanation:
A prepayment penalty is charged when a borrower significantly writes down or offset his loan earlier than as planned in the loan agreement , especially within the first five year of taking the loan. Some lenders restrict repayment to a certain value before you can be fined.It serves as a form of security on the lenders interest income.
It is calculated on the outstanding loan balance which mean the longer you owe , the less your penalty and vice versa.
On the side of the borrower , accepting the clause in the loan agreement always come with a lower interest on loan
Jared's mortgage contains a prepayment penalty, a fee for paying off the loan within one year of origination, designed to compensate the lender for lost interest payments.
Explanation:The penalty Jared encounters in his mortgage document for paying off his loan within one year of the loan origination date is known as a prepayment penalty. This is a fee imposed by the lender to discourage borrowers from paying off their loan early, because the lender would lose out on expected interest payments if the loan’s life is shortened. Prepayment penalties depend on the lender and the terms of the mortgage; not all loans include these penalties. They are used to protect the lender's interest in the anticipated profits from the loan's interest charges. If Jared pays off his loan within the specified time frame, he would be required to pay additional interest as a penalty for doing so. Understanding the terms of your mortgage, including any potential prepayment penalties, is crucial when managing your personal finances and making decisions about paying off loans.
4. In order to attract businesses to the area, the city of Grand Valley offers a $500 job tax credit per employee, a 3% investment tax credit for purchased equipment and a health insurance tax credit of $200 per employee. This is an example of a(n)____________
Answer:
enterprise zone.
Explanation:
Enterprise zone -
It refers to the geographical area , which gets some specific tax break , some regulatory exemptions and some specific public assistance so as to initiate the private economic development , which helps to create more jobs , is referred to as enterprise zone .
The method is adapted in order to promote the revival of the city or the nearby area .
Hence , from the given scenario of the question ,
The correct term is enterprise zone .
Which theory states that deviant behavior occurs when a person weighs the costs and benefits of deviant behavior and concludes that the benefits outweigh the risks?
Answer: Rational Choice of Theory of Deviance
Explanation:Deviant Behavior, is the term used to describe actions or behaviors that are judge as not morally right,they are Behaviors that are against the established social norms or Behaviors that are against the legal provisions of the land.
Rational Choice of Theory of Deviance is a sociological theory that tends to prove that Deviant acts are sometimes caused by actions or activities of others such as the people or organizations or Government.
A new assessment tool does a good job of differentiating those who later will be depressed and those who will not be depressed, and it produces results similar to those of other tools measuring depression. Therefore, the new assessment tool has good:
A. predictive validity.
B. face validity.
C. interjudge reliability.
D. test-retest reliability.
Answer:
A. predictive validity.
Explanation:
The tool has predictive-validity because it can assess, or predict, out of a sample, which subjects will be depressed in the future, and which subjects will not, producing similar results to other tools that also measure depression, something that gives it credibility.
Final answer:
The new assessment tool shows good predictive validity because it accurately differentiates between individuals who will later be depressed and those who will not. Predictive validity is concerned with how well a measure can forecast future outcomes based on its intended purpose. Other types of validity and reliability aren't as clearly demonstrated by the information provided.
Explanation:
The new assessment tool in question does a good job of differentiating those who will later be depressed from those who will not, and it also produces results similar to those of other depression measurement tools. Therefore, the new assessment tool is displaying good predictive validity. Predictive validity refers to the degree to which a measure successfully predicts a future outcome that it is theoretically expected to predict. In this case, the tool accurately identifies who will develop depression in the future, which is the essence of predictive validity.
Test-retest reliability is about consistency over time when a measure is administered multiple times. Since the assessment tool reliably differentiates future depression as other tools do, this implies that it could potentially possess good test-retest reliability, but the question does not provide enough information about this specific type of reliability.
Face validity pertains to the plausibility that a measure appears to assess what it is designed to assess, which may not necessarily reflect actual validity. Interjudge (inter-rater) reliability refers to the degree to which different observers or judges agree on an assessment. The scenario described does not provide sufficient details to evaluate face validity or inter-rater reliability, focusing instead on the tool's ability to predict future depression.
One reason why a blanket obligation for all employees to obey their employers no matter what is unreasonable is that the choice of obeying someone's command or jeopardizing one's job is fundamentally coercive, and, thus, the consent involved is not fully free.True / False.
Answer:TRUE
Explanation:COERCIVE FORCE is a force applied to a person or a group of persons in order to make them carry out an involuntary action or actions. It is used by employers of labor in order to mandate their employees to carry out certain activities. All Employees are required by their employers to obey the rules and regulations guiding the establishment even when it is not based on the interest of the employees.
Ali decides to attend the one-hour review session for microeconomics instead of working at his job. His job pays him $10 per hour. Ali's opportunity cost of attending the review session is _________.
Answer:
Opportunity cost is $10
Explanation:
Opportunity cost is the concept in economics that looks at the cost of doing an activity, that is the foregone alternative.
Ali decides to attend a one-hour review session in so doing he has foregone one hour's wages where he works. As one hour pays $10, he has lost $10 for attending the review session.
The opportunity cost of attending the review session for Ali is $10.
Opportunity cost is the value of the next best alternative that is foregone when a decision is made. In this case, Ali has the choice to either attend the microeconomics review session or work at his job for one hour. By choosing to attend the review session, Ali gives up the opportunity to earn money from his job. Since his job pays him $10 per hour, the opportunity cost of attending the review session is the amount of money he would have earned in that hour, which is $10.
The water authority of the metropolitan city of Bongkasea put up a sign near all public water taps that read the following: "Turn me off after use because I may not be free of cost in 2050." Which of the following marketing strategies does this scenario best illustrate?A. People marketing
B. Place marketing
C. Event marketing
D. Idea marketing
Answer: (D) Idea marketing
Explanation:
The idea marketing is one of the type of marketing strategy in which the various types of marketing activities taking place for the purpose of attract the customer and visitors for developing the new business ideas.
The main objective of the idea marketing is that it helps in selling the various types of future possibility to the audience.
It basically helps in inventing the various types of chances in the future by developing the products and the services and efficiently deliver it to the users.
According to the given scenario, the above given example best illustrating about the idea marketing strategy. Therefore, Option (D) is correct answer.
The water authority of Bongkasea is using 'idea marketing' by promoting conservation and the sustainable use of water resources. They are suggesting a change in the public's behavior towards water waste
Explanation:The water authority's initiative seems to fall under the category of Idea Marketing. This type of marketing involves promoting a concept or an idea, rather than a product, service or organization. In this case, the authority isn’t directly marketing a product or service. Instead, it's promoting the idea of conservation and the sustainable use of water resources. They are trying to change the public's behavior towards waste and insinuate that there may be a cost associated with wasting water in the future. This is typical of Idea Marketing which often involves social or educational initiatives aimed at changing public behavior for the common good.
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Sarah works at a U.S.-based company that gets most of its sales from Europe, more than half of the company’s managers are non-American, and its employees work in five different countries. Based on this information, Sarah works at a(n):______
Answer:
Multinational corporation
Explanation:
Sara works in an organisation that has office all over the world; it means she works in a multinational corporation. Companies who work in just one country or home country are known as domestic companies. Similarly, companies which have offices and operations in different countries are known as multinational companies. 'Multi' stands for more than one country.
Shawn McGill is on the executive board for ABC pharmaceuticals. The company produces the number-one-selling cancer-
ghting drug on the market. Due to its incredible success, ABC Pharmaceuticals has decided to increase the cost of the
drug from $8 a pill to $15 a pill. Which force is ABC Pharmaceutical using to increase its drug price?
A. Supplier power.
B. Buyer power.
C. Threat of false entrants.
D. Business power.
Answer:
A
Explanation:
ABC is the producer of the drug, therefore not the buyer.
While they could be concerned about new Entrants, that is not 'a force' nor a mechanism to block new entrants. You might lower price to block new entrants but raising prices will have them seeking alternatives.
Business power is too generic and meaningless of an answer.
In Albany, Georgia, the bars and restaurants built outdoor seating areas after the city passed laws banning indoor smoking to accommodate customers who smoked. To what dimension of the general environment were the bar and restaurant owners reacting?A) economic forces B) political-legal forces C) consumer forces D) sociocultural forces E) institutional forces
Answer:
B) political-legal forces
Explanation:
The restaurants are acting based on a new city law that bans indoor smoking.
Political and legal environmental forces are simply changes in existing laws or new laws that alter the market or business environment of a company. Usually when people refer to political forces, they mean macroeconomic factors like change in taxes, new trade policies, etc. And when they refer to legal forces it means more specific factors like changes in property laws, anti-discrimination laws, or no smoking laws.
The bar and restaurant owners in Albany, Georgia were reacting to the political-legal forces of the general environment.
Explanation:The bar and restaurant owners in Albany, Georgia were reacting to the political-legal forces of the general environment. The city passed laws banning indoor smoking, which forced the owners to accommodate customers who smoked by building outdoor seating areas. This response was necessary to comply with the new regulations and maintain their business.
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Janice, a co-founder of a startup firm that provides financial services, is responsible for making the standard operating procedure for the firm's wealth management division and assigning duties to the management trainees recruited for this division. In the context of management functions, Janice's job responsibilities best illustrate _____. Group of answer choices A. organizing B. ambitious C. none of these
A consumer will often turn to one of their formal or informal ________ (one word) groups for advice and guidance on acceptable beliefs, attitudes, and consumer behaviors. This group might be colleagues at work, team members on sports team, or a club in which they are a member.
Answer:
Reference
Explanation:
_____ goals are set by and for an organization's top management. a. Operational b. Diversification c. Strategic
Answer:
c. Strategic
Explanation:
Strategic decision is the long term decision of the organization and decide the strategy of the organization, which is the responsibility of the top management. Lower management contributes to achieve these long term objective by achieving short term objective which is align with the strategy of the organization.
Claudia Norman, a marketing consultant, recommended that brand equity for a new environmentally-friendly product could be established by giving initial customers free memberships in the Sierra Club organization. Claudia used which of the following in her recommendation?
A. Promotional consideration
B. Emotional learning
C. Classical conditioning
D. Instrumental conditioning
Answer:
D. Instrumental conditioning
Explanation: -
Instrumental conditioning - Operant learning is another name for instrumental conditioning. In this conditioning, punishment may increase or decrease the chances that behavior will repeat again.
In the given question, Claudia who is a marketing consultant advised giving free membership in a particular club in order to recommend brand equity. Thus this shows Claudia is using reinforcement to build the behavior of the customer which can or cannot be long-lasting.
The Irwin's made an offer to purchase the Grey's property. As part of the offer, the Irwin's agreed to take title "subject to" an existing VA loan which the Greys obtained when they purchased the property in the approximate amount of $39,000. If the Greys sell to the Irwins under these conditions, which of the following is true concerning liability for a loss suffered by the government after a foreclosure on the VA loan: (a)The Irwins will be primarily liable. (b)The Greys and Irwins will be equally liable. (c)The Greys will be primarily liable. (d)Neither couple is liable because the Irwins took title "subject to" the existing loan.
Answer:
"C"
Explanation:
A prior approval is necessary for transfer of all liabilities in the situation of transfer of VA loan.Where the approval was not obtained and loan transferred under the condition of "subject to" the mortgage , the purchaser will not be responsible for the liabilities including the funding fees, except the retroactive approval of the approval is arranged , then the purchaser can take over the loan's liabilities.
Luxere Hotels International, an American company, sells the rights to other hospitality companies globally to open hotels with the Luxere name for a fee and a share of the profit, in return for using Luxere's brand name and a package of materials and services. This defines ____.
Answer: Franchising
Explanation:
Franchising is one of the type of marketing based method that helps in defining the various types of business strategy by implementing the intellectual properties and also the business structure.
It is basically refers to the licence that is obtained for the purpose of accessing the other business for selling the products with the name of same brand.
According to the given question, the luxere hotels is one of american based company that selling the products to other hotels by using their specific name of the brand.
Therefore, Franchising is the correct answer.
Max Weber argued that the ascetic principles embedded in _____ do not encourage entrepreneurial activity in pursuit of wealth creation because it is perceived that such activities make the attainment of nirvana more difficult.
A. Islam
B. Hinduism
C. Confucianism
D. Protestantism
E. Capitalism
Answer:
B. Hinduism
Explanation:
Max Weber is known for his concept of bureaucracy as an organization structure.
Weber observed, the principles of Hinduism preach selflessness and greater self denial as means to attain enlightenment or nirvana. By abiding to such principles, entrepreneurial activities cannot be a possibility.
The simple reason being, entrepreneurial activities are focused at wealth creation and profit making. And ideally, one's profit is offset by another's loss. So when one earns a profit, it always comes at the cost of someone's loss.
So such activities as per Hinduism cannot lead to attainment of nirvana and thus would be discouraged.
When customers start getting sick after eating at a popular new restaurant, the management is worried. The Centers for Disease Control (CDC) schedule an appointment to visit the restaurant’s kitchen to determine whether the personnel or the equipment is transmitting a virus to the public. The restaurant’s management convenes a meeting to decide how to investigate the problem themselves. They need to make some choices quickly.
Which strategy would be most effective in this situation?
a)A majority decision
b)A consensus
c)Averaging
A majority decision strategy would be most effective in this situation.
Explanation:
The concept of majority is a system of judgement which chooses alternatives that have a majority, which means more than half the votes.
It is the conditional decision concept used in leading policy-making bodies most often.
The majority oppression (or collective tyranny) is a flaw that is undoubtedly implicit in majority government, in which the majority of voters seek their own interests at the expense of those within the minority exclusively.
So in this scenario , the restaurant management should take everyone's decision and the majority should be executed.This is the best choice to take quickly.
The most effective strategy for the restaurant management would be a consensus approach, indicating that every member agrees on the chosen course of action. The management should review food handling processes, hygiene standards, and equipment condition as part of their investigation.
Explanation:In this situation, the most effective strategy would be b) A consensus. This approach indicates that all members of the management team agree on the course of action. In a crisis situation like this, unified action contributes to smoother implementation and decisions that are more likely to consider all the variables of the situation.
The management could start by reviewing food handling and preparation processes, check the hygiene standards employed by the personnel, and assess the state of the equipment to pinpoint potential problem areas. They could also implement a quality control protocol to ensure a fresh and safe food supply.
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Zimway Inc is a small-scale manufacturer of linen. Couture Corp, a big apparel brand, purchases linen from Zimway in large quantities. Zimway, otherwise, has very few clients, and most of them purchase linen occasionally and in minimal quantities. Therefore, business ties with Couture is crucial for Zimway's survival and success. In the context of the specific environment, which of the following concepts is illustrated in the scenario?
A) Buyer dependence
B) Supplier dependence
C) Regulator dependence
D) Internal dependence
Answer:
The correct answer is letter "A": Buyer dependence.
Explanation:
Buyer dependence refers to the tied relationship between a buyer and the retailer or a retailer and the manufacturer. Without the purchase of the buyer or the retailer -according to what applies, the manufacturer could not continue operations since there would not be sales, meaning the company will have to stop the business due to the lack of profit.
Drew contracts to sell a house to Evan. The contract provides that if Drew does not sell the house by February 10, he must pay Evan one-half of the contract price. This provision is not enforceable because it is ________.a. a liquidated damages clause.b. a material breach.c. a mitigation of damages.d. a penalty clause.
Answer:
Option D is correct because a penalty clause is excessive harm mitigation charge which is written in the contract so according to the law in case of default of one party the other party must be only compensated for the damage. So in this case Evan has used a penalty clause to enforce Drew to sell him his house. If Drew wants to default then he will have to compensate for the demages to Evan due to his default.
In the country of Lumberne, citizens campaigned against the sanction of a new factory that was about to be built in the vicinity of their residences. They argued that the discharge from the factory will pollute the area and adversely affect the quality of life of several residents. These citizens, who campaigned against the sanction, are most likely a part of a _____.
a) self-regulatory body
b) civil society
c) law firm
d) government organization
Answer: (B) Civil society
Explanation:
The civil society is one of the type of organization in which the various types of collective actions are taking place in order to share the common values and interests.
It basically enhance the services and the used in the decision making process based on the public and the economical rights.
According to the given question, the civil society is one of the part of citizen campaigned that is against sanction of the new factory that start building in the residence area.
Therefore, Option (B) is correct answer.
Dan has been directed to study the forces close to a company that affect its ability to serve its customers, such as the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. In this instance, Dan has been directed to study the ________ of the company.
Answer:
Micro environment
Explanation:
The institution's micro-environment comprises of those components that are manageable. Generally the micro-environment doesn't really impact all businesses in a sector in same manner, as the scale, efficiency, competence and approaches are different.
For instance, the suppliers of raw materials are giving big corporations more compromises. We might not offer small businesses the same concessions though. Thus, from the above we can conclude that the correct answer is micro-environment.
A business administrator in a school is determining how classes will be scheduled, which rooms will be allocated, and who will teach each subject in the curriculum. Which of the following management functions is illustrated in this scenario?
Organizing
The management function of organizing is illustrated in this scenario. Organizing is deciding where decisions will be made, who will do what jobs and tasks, and who will work for whom in a company. See 1-2: Management Functions T/F
Answer:
The answer is True
Explanation:
Organizing is the process of developing an organizational structure, outlining of tasks to be done to meet the organization's goals, and the assignment of tasks to the individuals who best suit specific roles.
Importance of Organizing includes:
1. Efficient use of resources; because each employee is assigned roles they can best perform.
2. Efficient administration; because it harmonizes the various departments and creates the unification essential to meeting organizational goals.
3. Organizing creates efficient communication between different departments.
4. It creates organizational growth and expansion; because it ensures that no resource is wasted and that every member of an organization performs their assigned tasks.
Which of the following is a possible outcome of setting a legal maximum rental rate below the market clearing rental rate? a. a decrease in the quantity of rental housing demanded b. a surplus of rental housing c. an increase in the quantity of rental housing supplied d. a black market in rental housing
Answer:
The answer is d. a black market in rental housing
Explanation:
There is likely to be deficit of rental housing meaning Demand > Supply. Rental housing is likely to be sold in black market at a higher price.
Setting a maximum rental price below the market rate can lead to a shortage in rental housing, as the demand exceeds the set supply. This could potentially give rise to a black market in rental housing where renters pay extra fees to secure housing.
Explanation:When a legal maximum rental rate is set below the market clearing rental rate, it could result in a black market in rental housing.
This concept is primarily related to rent control laws. Rent control laws peg the price of rental housing at a certain level.
According to the example provided, if the city government sets a legal maximum price of $500 for a typical apartment, this may result in a discrepancy between the quantity of housing supplied and the quantity demanded.
At this capped price, the quantity of rental units supplied remains static. However, the quantity of rental units demanded exceeds this supply, resulting in a housing shortage. Ironically, there could be fewer apartments rented out under the price ceiling than at a higher, unrestricted market price. This might lead to the formation of a black market in rental housing, with potential renters willing to pay extra illegal fees or bribes to secure housing in the face of the shortage.
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A nightclub has several types of employees, each with a specialized task. Bartenders make drinks, bouncers check identification, bussers clear away used glasses, and so on. A shift supervisor is in charge, and a manager is in charge of the shift supervisor. At work the employees check the bulletin board, where their boss posts memos explaining changes in the rules. The bouncers are the most popular employees, because they usually let their friends in for free, even if their friends don’t have ID. In many ways, the club is a bureaucracy, but there is at least one significant element of bureaucratic organization missing. What is it?A) Specialization
B) Hierarchy
C) formal written communication
D) Impersonality
Final answer:
The missing element of bureaucratic organization in the nightclub scenario is impersonality.
Explanation:
The missing element of bureaucratic organization in the nightclub scenario is D) Impersonality.
A bureaucracy is characterized by explicit rules, a clear division of labor, hierarchy, and impersonality. Impersonality refers to taking personal feelings out of professional situations and treating all individuals in the organization equally. While the nightclub organization exhibits other elements of bureaucracy, such as specialization, hierarchy, and formal written communication through memos posted on the bulletin board, the fact that the bouncers let their friends into the club for free shows a lack of impersonality.
Final answer:
The nightclub fails to exhibit impersonality, as bouncers allowing friends in for free without ID shows favoritism, deviating from the bureaucratic principle of equal treatment for all clients.
Explanation:
The nightclub described demonstrates several elements of a bureaucratic organization, such as specialization where each employee has a specialized task, a hierarchy with a shift supervisor and a manager overseeing operations, and formal written communication with the use of memos posted on a bulletin board. However, the mention of bouncers letting friends in without ID suggests a lack of impersonality in the treatment of clients, which contradicts the principles of bureaucracy where all clients should be treated equally and without favoritism. Therefore, the significant element of bureaucratic organization that is missing in this nightclub scenario is impersonality.
A(n) ________ is an unincorporated business owned and run by one individual in which there is no distinction between the business and the owner.
Answer:
Sole Proprietorship
Explanation:
Sole Proprietorship is a business enterprise owned, regulated & managed by a singe entrepreneur.
In this case, firm & enterprise are not separate but unanimous entities. It is unincorporated means that it doesn't have a separate legal entity.
So, the entrepreneur's liability towards firm's claims is unlimited, i.e entrepreneur's personal assets can be used to settle firm's liabilities.
This business form has advantages : Easy establishment & registration compliances, full freedom & decision making power.
It also has disadvantages : Unlimited Liability & Low expansion scope.