Answer:
2. indicates the quantities of the good that people will buy at various prices.
Explanation:
Demand refers to an individual's willingness to buy a product in consideration for a price.
The law of demand states that more of a good is demanded at a lesser price and vice versa. When price of a good changes with other factors affecting demand remaining constant, the quantity demanded for that good changes which is termed as movement along the demand curve.
A demand schedule for a good represents the tabular relationship which shows the quantity demanded by customers at different price levels.
A demand schedule when represented graphically creates a downward sloping demand curve depicting inverse relationship between price of a good and it's quantity demanded.
A demand schedule indicates the quantities of a good people are willing to buy at different price levels. It's not primarily determined by the cost of producing the good or by the price of other goods. An example provided highlights the inverse relationship between price and demand.
Explanation:The demand schedule for a good Group from the given choices primarily indicates the quantities of the good that people are willing to buy at various prices. It doesn't primarily indicate the relationship between the costs of other goods, nor is it determined by the cost of producing the good itself. Instead, it shows a direct relationship between price and quantity. The higher the price, the less people are willing to purchase, and vice versa.
For instance, if the price of an apple is $1, maybe 100 people are willing to buy. But if the price rises to $2, the number of people willing to buy may decrease to 80. This is depicted by a demand schedule and the corresponding demand curve in economics.
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In the policy-making process, science is _________. a. only one of the factors that influence policy makers b. the main driving force behind environmental policy c. only conducted by private citizens presented without political influence d. because science is peer-reviewed
Answer:
A) only one of the factors that influence policy makers
Explanation:
Politics is extremely complicated, since everyone knows what should be done, but no one does it. Politicians live in an alternate universe where only what they say or make up is valid, and reality doesn't really matter very much. And I'm talking about the US where a few government agencies do rely on scientific research (e.g. NASA) and the government also provides grants mostly to universities but sometimes to private companies also in order for them to investigate certain issues.
But even with tons of scientific research done, politicians do as they want, e.g. the current government rejects global warming even though government scientists believe the contrary.
When politicians are deciding on different policies, scientific truth is not something that they usually rely on. Luckily for us, it still exists and at least we know about them. In the rest of the world things work out the same, but scientific research is either non-existent or not available to the public.
In policy-making, science is one of the significant factors influencing policy makers. It impacts decision-making but is not the only determinant. Other factors like economic implications, societal norms and others also play significant roles.
Explanation:Within the process of policy-making, science is generally considered as one important factor that influences the policy makers, meaning option 'a' is the correct choice. Though scientific understanding plays a crucial part, policy-making also considers economic implications, societal ethics and norms, historical contexts, and more. For example, in environmental policy formulation, while the impacts of climate change are scientifically acknowledged, the policy should also balance economic consequences of regulatory measures.
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A licensed salesperson was assisting a seller in establishing a listing price for the seller's home. Prior to giving the seller the information the salesperson had gathered, the seller told the salesperson what price the seller wanted to use to list the home. Which of the following statements BEST describes what the salesperson should suggest as a list price:
A) at or above the highest ‘asking’ comparable property, regardless of the seller’s desired price.
B) at or below the lowest comparable sold property.
C) within range of the most recent ‘asking’ and ‘sold’ comparables in view of the seller’s urgency and market conditions.
D) the amount the seller initially wanted to use for a list price.
Answer:
C) within range of the most recent ‘asking’ and ‘sold’ comparables in view of the seller’s urgency and market conditions.
Explanation:
The sales comparison approach is the most common and accepted way of appraising a real estate property. You consider the value of similar options that were recently sold or listed in the market.
Even a regular person understands that the price of house is determined by the location of the house and the value of similar properties near that location.
Then the other aspect that must be considered is how fast does the seller needs to sell his property. If you are in a real hurry, e.g. to cover medical expenses, then you might need to ask for a lower price.
When Ramona, the keynote speaker at a major business leaders' conference, arrived in the middle of the night at the Ritz-Carlton, she was exhausted and her suit was wrinkled from her ten-hour plane trip. The night clerk found someone to dry clean Ramona's suit and have it ready for her morning presentation. She has been a loyal Ritz-Carlton customer ever since. In this example, Ritz-Carlton demonstrated the macro strategy of:________.
a. customer excellence.
b. operational excellence.
c. product excellence.
d. promotional excellence.
e. global excellence.
Answer:
The correct answer is letter "A": customer excellence.
Explanation:
Customer service is the treat companies provide to their consumers according to the goods or services that the firms provide. When the company engages in activities that go beyond their scope and responsibility to better assist clients, then we are talking about customer excellence.
SweepIt Cleaning Service reported the following amounts for the week ending November 4. The total amount earned by all employees is $2,193.40. The amount withheld for federal income tax is $263.00. Social security tax is $136.00, and Medicare tax is $31.80. Three of the employees each have $11.25 deducted for hospital insurance. The amount withheld for state income tax is $38.70. For each tax/withholding, identify if the amount will be recorded in PAYROLL or EMPLOYER’S PAYROLL TAX transaction?
Answer:
The total amount earned by all employees is $2,193.40. Wages must be recorded as a payroll transaction.
The amount withheld for federal income tax is $263.00. Federal income taxes must be recorded as payroll taxes.
Social security tax is $136.00, and Medicare tax is $31.80. Social Security and Medicare must be recorded as employer's payroll taxes transactions (the employer pays them).
Three of the employees each have $11.25 deducted for hospital insurance. Health care insurance must be recorded as a payroll transaction.
The amount withheld for state income tax is $38.70. State income taxes must be recorded as payroll taxes.
In its December 31 balance sheet, Butler Co. reported trade accounts receivable of $250,000 and related allowance for uncollectible accounts of $20,000. What is the total amount of risk of accounting loss related to Butler's trade accounts receivable, and what amount of that risk is off-balance sheet risk?
Answer:
$230,000
Explanation:
Given:
Trade accounts receivable = $250,000
Uncollected accounts = $20,000
Computation:
Total Amount Of Risk = (Trade Account receivable - Uncollected Accounts)
=( $250,000 - $20,000)
= $230,000
No , Any financial loss danger off-balance sheet resulting from registered accounts or receivable notices not include in it.
Which of the following exploratory market research techniques typically involves a product-oriented discussion among a small group of consumers led by a trained moderator? A. Customer insights B. Case study C. Neuromarketing D. Ethnography E. Focus group
Answer: (E) Focus group
Explanation:
The focus group is the term which refers to the diverse group of the various types of people that basically used the traditional market researcher for gathering the various types of opinions about the various types of products and the services.
The focus group is mainly used by the various types of organizations for analyzing the consumer feedback about the specific products in the market.
According to the given question, the focus group is one of the market research exploratory method that involve the product oriented various types of discussions.
Therefore, Option (E) is correct answer.
The average total cost of producing electronic calculators in a factory is $30 at the current output level of 220 units per week. If fixed cost is $735 per week, then what is the firm's variable cost? (enter answer as just a number, no commas, dollar signs, or the like)
Answer:
The variable cost (related to the production volume) will be 5,865 in total per week (220 units)
or 26.66 per unit
Explanation:
220 units x 30 dollar total unit cost = 6,600
the total cost is compose of both, variable and fixed cost so we have to subtract the fixed cost to arrive to the variable cost.
total cost = fixed + varible
total - fixed = variable
6,600 - 735 = 5,865
The variable cost are 5,865 in total
while: 5,865 / 220 = 26,66 per unit
The firm's variable cost for producing 220 units of electronic calculators per week is $5865, calculated by subtracting the fixed cost from the total cost.
The question pertains to calculating the variable cost of production for electronic calculators in a factory, given the average total cost and the fixed cost. To find this, we use the formula:
Variable Cost = Total Cost - Fixed Cost
The average total cost (ATC) is $30 for manufacturing electronic calculators, with an output level of 220 units per week. For calculating the total cost (TC), we need to multiply the ATC by the number of units produced (quantity), which gives us:
TC = ATC × Quantity
TC = $30 × 220 = $6600
Now, subtracting the provided fixed cost of $735 from the TC gives us:
Variable Cost = TC - Fixed Cost
Variable Cost = $6600 - $735 = $5865
Therefore, the firm's variable cost for producing 220 units per week is $5865.
The Canon Corporation sells ten copiers to the Title Company on October 15 for $40,000. Canon delivers the copiers to Title on October 20; Title pays $16,000, and agrees to pay the balance on November 10.
Under the accrual basis, how much revenue should Canon recognize in November?
$0 T/F
Answer:
TRUE
$0
Explanation:
Accrual Basis is an accounting Principle that defines how to do accounting with accrual income and accrual Expenses, Under this principle, all accrual expenses get debited today but all accrual income must be a credit on that day when they received.
In this situation, canon corporation will get remain balance on November 10 but we can not record that it Earned.
Under the accrual basis, Canon Corporation should recognize the revenue from the sale of copiers in November for the remaining balance of $24,000.
Explanation:Under the accrual basis, Canon Corporation should recognize the revenue from the sale of copiers in November. Even though Title Company paid $16,000 on October 20, the remaining balance is still pending and will be paid on November 10. Canon should recognize the revenue when it is earned, which is when they have delivered the copiers to Title Company.
Therefore, in November, Canon should recognize the revenue for the remaining balance of $24,000.
ABC, Inc.'s income statement shows Service Revenue of $40,000, Wages Expense of $25,000 and Net Income of $1,000. The other expenses on ABC's income statement must equal ______.
A) $14,000.
B) $15,000.
C) S66,000.
D) $16,000.
Answer:
A) $14,000.
Explanation:
In the profit or loss statement, the key elements are sales and expenses and the net of these two gives the net income.
Given
Service Revenue = $40,000,
Wages Expense = $25,000
Net Income = $1,000
Total expense = $40,000 - $1,000 = $39,000
The total expense is made of the wage expense and other expenses.
Therefore, other expenses = $39,000 - $25,000
= $14,000
Distinguish among land-, labor-, and capital-intensive goods, citing an example of each without resorting to book examples. How do these distinctions relate to international trade? How do distinctive products, unrelated to resource intensity, relate to international trade?
Answer:
Land intensive goods generally refer to raw materials (minerals, oil, etc.), agricultural products or fishing products, i.e. commodities. Labor intensive goods require a lot of skilled or semi-skilled labor, e.g. clothing. Capital intensive goods require a lot of machinery and equipment, e.g. technological products, cars, airplanes.
International trade is based on comparative advantages, because countries that have abundant supplies of any factor of production will produce goods that take advantage of them. An abundance of factors of production lowers their relative costs. For example, Japan has an abundance of labor and capital, so it manufactures industrial and high tech goods, but it has to import food and raw materials.
Distinctive products that are associated with high quality can provide an advantage for the exporting country, for example Germany exports good cars, Argentina exports good meat, France exports good wines, etc.
Ted's Taco Shop has total assets of $5 million. Forty percent of these assets are financed with debt of which $400,000 is current liabilities. The firm has no preferred stock but the balance in common stock and paid-in surplus is $1 million. Using this information what is the balance for long-term debt and retained earnings on Ted's Taco Shop's balance sheet?
Answer:
Long-term debt 1,600,000
RE 2,000,000
Explanation:
Assets = 5,000,000
40% of assets financed with debt:
5,000,000 x 40% = 2,000,000
debt can be either short or long thus if short term debt = 400,000
long term debt: total debt - short term debt
2,000,000 - 400,000 = 1,600,000
now with the basic accounting equation we solve for RE
Assets = liabilities + equity
5,000,000 = 2,000,000 + equity
equity = 3,000,000
equity in this scenario is compose of common stock and their additional paid-in which total is 1,000,000
and retained earnings Hence:
3,000,000 - 1,000,000 = 2,000,000 retained earnings
Taka is considering sending a message regarding a raise but is concerned since the company is struggling financially. Taka has determined the specific purpose of his message; however, he should answer which of the following questions before sending his message?A. Will management allow this message to be sent?B. Will anything change as a result of the message? C. Is the time right?D. Is the purpose acceptable to the organization?E. Is the purpose realistic?
A. Will management allow this message to be sent?
Answer A:
This depends upon the financial health of the company and the project for which the funds are required. If the company is raising debt finance and its financial health is not good, then it seems the management might reject the idea to raise debt finance because the company have to pay interest on this amount borrowed. But if the company is raising equity finance then greater chances exist that the management will encourage this move.
B. Will anything change as a result of the message?
Answer B:
Ofcourse, if the debt finance is used it would make the financial health of the company worse than before if the project for which the loan option is choosen does not performs well in the market. If the projects performs well then it will reduce the financial distress and head the company towards another investment to further reduce the gearing and increase the interest cover.
C. Is the time right?
Answer C:
It might be right time to borrow because after some time there might be a rare chances to borrow or raise equity because of further poor performance. It is also possible that the investment will decrease the financial gearing from its better performance, which is the need of the time. So it depends a lot on the source of finance, project profitability and time. If we use equity finance then it provides financial protection for a greater period.
D. Is the purpose acceptable to the organization?
Answer D:
If the company raising the finance to pay its debt then that's not the right option. The company must raise finance to invest somewhere else and earn a good share of investment in the comings year to meet the interest due and make another investments. It also depends what is the purpose of the fund raising. Usually the lenders prefer to pay to companies when companies make investments.
E. Is the purpose realistic?
Answer E:
If the company is making unrealistic assumptions then it is probable that the company performance in the year will be very poor. So making better forecasting is a better way to sense the risks in the market and also tells the way we must tackle these risks.
The employees of Wingim Corp. were unhappy with the new policies that were introduced by the management, so they decided to rebel against the company. The employees started coming late and left before completing their shifts. In the context of scientific management, this behavior of the employees is known as _____.
a) whistle-blowing
b) accommodation
c) policing
d) soldiering
Answer:
The correct answer is letter "D": soldiering.
Explanation:
American economist Frederick Winslow Taylor (1856-1915) in his "The Principles of Scientific Management" referred to as soldiering to the act in which employees underperform on purpose. According to Taylor, this behavior is mainly caused because of the employees' belief that reaching maximum efficiency could lead to employers firing less productive workers, and because of little to no incentive wages.
Information systems, management information systems, information technology, information management, and computer information systems are often confused with one another. Which of these focuses primarily on hardware and software?
Answer:
information technology
Explanation:
Information technology is the study of systems for the sake of storing transforming and extraction of information. It includes the software and hardware for storage and transformation and retrieval of of information. All other information relates to the analysis and management of information which does not involve the hardware.
The terminology that has been focusing on both the hardware and the software has been Information technology.
The hardware has been the physical component of the computer system that enables us to provide the access to the software.
The software have been the operating systems that have been dealing with the documentation and task performed by the computers.
The terminologies dealing with hardware and software has been Information technology. It enable a person to deal with the software and the task performed by the systems with the help of the hardware devices.
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If countries are first ranked by level or real GDP per capita, and then by the value of the Human Development Index, would you expect the ranking of countries to be similar or different? Explain Shocks to an economy, such as wars, famines, or the unification of two economies. often generate large one-time flows of workers across borders. What are the short-run and long-run effects on an economy of a one-time permanent increase in the stock of labor? Use a diagram to guide your arguments.
Answer:
Some countries that have a very high GDP per capita, e.g. Qatar which has the highest of all, are generally considered developing nations and their Human Development Index is really bad. In the case of Qatar, United Arab Emirates, Saudi Arabia, and the rest of middle eastern oil exporting countries, the wealth of the country is only held by a very small percentage of the population, usually less than 10%. That 10% is extremely rich and the other 90% are extremely poor and live under very harsh conditions.
The European Union's experience is a clear example of how an increase in the flow of workers affects economies. Generally speaking, an increase in the flow of workers will shift to the right the long run aggregate supply (LRAS) curve and the production possibilities frontier (PPF). This right shift means that the total production output will increase due to a decrease in production costs.
In the short run, if the flow of migrants was too large, the economy may experience some negative effects due to the increase in the aggregate demand curve and the increase in government spending. But this type of events are not common, not even the Syrian refugees caused such a disruption. The last time such an event happened was during World War II, and that was a major unprecedented event and nothing similar has happened again.
Any increase in spending is offset by a decrease in production costs and an increase in total production output. Something similar happens to the 25 million Mexicans that live in the US, a lot of them illegally, but they do not hurt the economy, they help it grow.
Final answer:
Rankings by real GDP per capita and HDI may differ as HDI includes education and health, not just income. Short-run effects of a labor stock increase include lower wages and increased unemployment, whereas long-run effects may lead to higher economic growth and market adjustments.
Explanation:
When countries are first ranked by level of real GDP per capita and then by the value of the Human Development Index (HDI), the ranking of countries might be similar to some extent since both indicators are measures of economic and human well-being. However, they can also show significant differences because HDI includes dimensions such as education and health in addition to income levels. Real GDP per capita only accounts for the average economic output per person, not how those resources improve lives.
In the case of shocks to an economy, such as wars or a large one-time migration, the short-run effects on an economy of a permanent increase in the stock of labor would likely include lower wages and higher unemployment rates due to a sudden increase in the labor supply. In the long run, however, the economy can adjust through increased production and potentially higher economic growth, albeit with changes to the structure of labor markets and investment in capital and technology
Invoro is a market leader in consumer electronics. If Finolo and Ethver, companies that manufacture televisions, develop the same customer knowledge base and create products with the same customer appeal as Invoro, then:________
A. Invoro will have a resource that is rare but no longer valuable.
B. Finolo and Ethver will have a VRIO resource.
C. Invoro will have a sustainable competitive advantage in the industry.
D. Invoro will have a resource that is valuable but no longer rare.
Answer:
Invoro will have a resource that is valuable but no longer rare.
Explanation:
Invoro's competitive edge has been duplicated by Finolo and Ethics through their customer knowledge base and products that appeal to customers.
The resource that Invoro has is still valuable and can give the company a good market share, but it is no more rare.
Newly-implemented government regulations have reduced the availability of raw materials for Blair Woodworking Corp. This would be considered an external organizational ______ in a SWOT analysis.
Answer: Threat
Explanation:
The threat is one of the important factor in the SWOT analysis that is basically used for analyzing the main causes of the damages in an organization, products and the venture. The threats can be defined as external or in a negative way.
The SWOT is stand for the strengths, weaknesses, opportunities, and the threats and these are the techniques for evaluating the four main aspects of the business.
According to the given question, the implementation of the new government regulations are reducing the availability of the raw materials and this is known as the external organization threat in the given SWOT analysis.
Therefore, Threat is the correct answer.
"What is the main reason that it is necessary for public companies to follow the rules and format set out in the Generally Accepted Accounting Principles (GAAP) when creating financial statements?"
Answer:
Unlike private companies or small businesses, publicly listed companies make a significant impact on the economy and the financial markets in general.
Moreover, both foreign and local investors are interested and invest in these companies.
Because of their significance, there should be the ability of comparability of these companies and their financials must be reliable and accurate.
Explanation:
If a frozen pizza plant is the cost object, classify each of the following costs as direct or indirect, respectively: pizza ingredients, cafeteria workers wages, and janitorial supplies.
Pizza ingredients are direct costs, while cafeteria workers' wages and janitorial supplies are indirect costs in relation to the frozen pizza plant cost object.
Explanation:When identifying whether a cost is direct or indirect, it is essential to consider whether the cost can be easily and conveniently traced to the cost object, in this case, the frozen pizza plant. Let's classify each of the following costs respectively.
Pizza ingredients: This cost is direct because these raw materials are directly involved in making the pizza and can be easily traced to the cost object.Cafeteria workers' wages: The wages paid to cafeteria workers are considered indirect costs as they do not directly contribute to the production of the pizza and cannot be traced to the cost object without significant effort.Janitorial supplies: Similar to cafeteria workers' wages, the cost of janitorial supplies is indirect as these supplies are used for cleaning and maintenance of the plant, which benefits all products and cannot be attributed to the cost object directly.It's important for the entrepreneur or manager to correctly classify these costs for effective tracking and management of their business finances.
Following the assumption that firms maximize profits, how will the price and output policy of an unregulated monopolist compare with ideal market efficiency?
An unregulated monopolist, aiming for profit maximization, tends to produce less and set a higher price than in a perfectly competitive market. This misallocation, referred to as deadweight loss, reduces consumer welfare, despite sometimes allowing for the potential benefits of innovation.
Explanation:In an ideal market, firms strive to attain maximum efficiency by producing at the point where marginal cost equals marginal revenue, resulting in allocative efficiency and a price that reflects the cost to society of producing an extra unit. A monopolistic firm, not regulated and aiming for profit maximization, tends to produce less output and set a higher price than what is considered socially optimal. Specifically, a monopolist sets the price above the marginal cost, leading to a loss of allocative efficiency.
This misallocation of resources is often referred to as deadweight loss, which is a cost to society created by market inefficiency. The presence of a monopolist in the market can lead to less output and higher prices, making goods and services inaccessible to some consumers and thus reducing overall consumer welfare. The trade-off is that these monopolistic practices may, in some instances, allow for innovation and ongoing investments into the development and improvement of goods and services.
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The price and output policy of an unregulated monopolist will differ significantly from the ideal market efficiency characterized by perfect competition.
Under the assumption that firms maximize profits, several key distinctions can be made:
Price: In a perfectly competitive market, prices are determined by supply and demand, leading to equilibrium prices where marginal cost equals the market price. In contrast, a monopolist has substantial market power and can set prices above the marginal cost, often resulting in higher prices for consumers.
Output: A monopolist tends to produce less output than would occur in a perfectly competitive market. This is because the monopolist aims to maximize profits, which involves restricting supply to keep prices high.
Efficiency: In perfect competition, resources are allocated efficiently because firms produce at the lowest cost and the market-clearing price. In a monopoly, allocative efficiency is not achieved as prices are typically higher and output lower than the ideal efficiency levels.
Consumer Welfare: Monopolies can lead to reduced consumer welfare due to higher prices and lower output, resulting in a deadweight loss in the market.
Overall, unregulated monopolists tend to operate at a lower level of efficiency and may not maximize social welfare when compared to perfectly competitive markets. Government intervention through regulation or antitrust measures may be necessary to address the inefficiencies associated with monopolistic behavior.
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Bakeries and coffee bistros that offer pumpkin-flavored items only during the autumn season target their consumers primarily through ________ segmentation. a. psychographic b. age and life-cycle c. occasion d. demographic e. income
Answer:
The correct option is Occasion segmentation
Explanation:
Occasion segmentation involves dividing consumers into different groups based on seasons.
Since some products are thought of been a perfect fit for certain periods of the year,it makes a business to wait for the period such that revenue can be maximized and the consumers' needs would ultimately be satisfied.
Raincoat for instance is not appropriate in all seasons,neither is air conditioner useful all year long.
Businesses like bakeries and coffee bistros target their customers through occasion segmentation, offering pumpkin-flavored items primarily in autumn; this strategy is centered on time, unlike demographic or psychographic segmentation.
Explanation:Bakeries and coffee bistros that offer pumpkin-flavored items only during the autumn season target their consumers primarily through occasion segmentation. This form of marketing strategy makes assumptions based on specific times of the year, national holidays, or even a customer's personal special occasions. For instance, during fall, the market sees a surge in pumpkin-flavored items as a timely response to customer habits and preferences. In contrast to, say, demographic segmentation, which could involve a method like the marketing manager of an electronics chain store wanting information about the ages of its customers, occasion segmentation centers primarily on timing.
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Pine Creek Company completed 200,000 units during the year at a cost of $3,000,000. The beginning finished goods inventory was 25,000 units at $310,000. Determine the cost of goods sold for 210,000 units, assuming a FIFO cost flow.?
Answer:
$3,085,000
Explanation:
For computing the cost of goods sold for 210,000 units by using the FIFO method first we have to find out the per unit cost which is shown below:
For beginning inventory
= $310,000 ÷ 25,000 units
= $12.4 per unit
For completed units
= $3,000,000 ÷ 200,000 units
= $15
Now the cost of goods sold would be
= 25,000 units × $12.40 + (210,000 units - 25,000 units) × $25
= $310,000 + 2,775,000
= $3,085,000
Using the FIFO method, the cost for the first 25,000 units sold is $310,000 and the cost for the next 185,000 units sold is $2,775,000. Adding these together, the total cost of goods sold for 210,000 units would be $3,085,000.
Explanation:In this scenario, we are assuming a 'first in, first out' (FIFO) cost flow. So, the cost of the first units in inventory (the beginning finished goods) would apply to the first units sold. The 25,000 units in beginning inventory cost $310,000, which represents a cost of $12.40 per unit ($310,000/25,000 units).
For the 200,000 units completed during the year which costed $3,000,000, the cost per unit is $15.00 ($3,000,000/200,000 units). Hence, the cost of the first 25,000 units sold (from beginning inventory) is $310,000 (25,000 units x$12.40/unit). The next 185,000 units sold are from the units produced this year and would cost $2,775,000 (185,000 units x $15.00/unit).
Adding these together, the total cost of goods sold for 210,000 units would be $3,085,000 ($310,000+$2,775,000). This demonstrates the usage of FIFO cost flow in calculating cost of goods sold.
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Suppose you build a model of the market for umbrellas, in which the predicted number of umbrellas sold by a shop depends on their colour and price, ceteris paribus. the colour and the price are variables used to predict sales. which other variables are being held constant?
Answer:
Quantity, location and weather
Explanation:
The concept of the ceteris paribus, is vital in economics as in the real world, it is generally hard to isolate all the variables that are different, and might change the result or outcome.
The ceteris paribus is the simplification, which include holding other things ( both outside as well as inside the model) constant. In this situation, all variables except price and the color are held constant. In this example, such as quantity, weather and location are held constant.
Ceteris paribus, variables kept constant in the model predicting umbrella sales could include factors such as weather conditions, shop location, area competition, time of year, and shop opening hours. These are typically held constant in market models to isolate the impact of the main variables under study.
Explanation:In the context of the question, other variables that could be held constant (ceteris paribus) in a model predicting umbrella sales could include factors like the weather conditions, the location of the shop, the competition in the area, the time of year, and the shop's opening hours. The weather condition especially has a direct impact on umbrella sales. For example, more umbrellas will be sold during the rainy season than in summer. However, Ceteris Paribus, all other things being equal or held constant, these variables do not change. In a market model, researchers often hold these variables constant to isolate the effect of the variable under study – in this case, the effect of the colour and price of umbrellas on sales – and to simplify the model.
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In the labor market, what causes a movement along the demand curve? What causes a shift in the demand curve?
Answer and Explanation:
Movement along the demand curve in the labor market occurs when there is any change in wages of labor. An increase in wage rate will lead to decrease in quantity of labor demanded. As a result, demand curve will move upwards and vice versa.
Reasons other that increase or decrease in price such as demand for the respective product, will lead to shift in demand curve. For example, an increase in the demand for a particular good will increase the demand for labor that will produce the product. An increase in demand for labor in this case will shift the demand curve rightwards and vice versa.
In the labor market, a movement along the demand curve represents changes in quantity of labor demanded due to changes in wage rates. A shift in the demand curve indicates a change in overall demand for labor, irrespective of wage rates, often due to factors such as changes in technology or the number of businesses in the industry.
Explanation:In the labor market, a movement along the demand curve and a shift in the demand curve are caused by different factors. A movement along the demand curve represents a change in the quantity of labor demanded, resulting from a change in the wage rate. For example, if wages decrease, businesses can afford to hire more workers, thus increasing the quantity of labor demanded.
On the other hand, a shift in the demand curve indicates a change in the overall demand for labor, regardless of the wage rate. This can be caused by various factors including changes in technology, changes in the price of the product the labor is producing, or changes in the number of firms in the industry.
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The employees of Burger Prince enjoy their work very much. This is largely due to their manager. Violet, who is always sympathetic to the needs of her employees and is seldom un-cooperative. Violet can be said to be low on the agreeableness continuum.
A) True
B) False
Answer: False.
Explanation:
The agreeableness continuum is a type of scale with which individuals interpersonal relation is measured, where the very nice individuals at all times are too of the scale and the always bitter individuals are at the scale's bottom. Violet is top of the agreeableness continuum, as she is always nice to others around her.
Suppose that the government wishes to decrease the market equilibrium monthly rent by increasing the supply the housing. Assuming that demand remains unchanged, by how many units of housing would the government have to increase the supply of housing in order to get the market equilibrium rental price to fall to $1500 per month? To $1000 per month? To $500 per month?
(a) 12,500 apartments at a rent of $2000 per month
(b) A shortage of 5,000 apartments per month, 10,000 apartments will actually be rented each month
(c) A surplus of 5,000 apartments per month, 10,000 apartments will actually be rented each month
(d) 2,500 more apartments, 5000 more apartments; 7,500 more apartments.
Answer:
,000 new apartments will make the equilibrium price = $1,50010,000 new apartments will make the equilibrium price = $1,00015,000 new apartments will make the equilibrium price = $500Explanation:
Rent Demand Supply
2,500.00 10000 15000
2,000.00 12500 12500
1,500.00 15000 10000
1,000.00 17500 7500
500.00 20000 5000
The equilibrium quantity is 12,500 apartments with a $2,000 rent per month. If the government wants to lower the equilibrium rent price by increasing the supply of apartments, then it must build:
5,000 new apartments will make the equilibrium price = $1,50010,000 new apartments will make the equilibrium price = $1,00015,000 new apartments will make the equilibrium price = $500When the demand for an apartment is equal to the supply, the equilibrium rental price per month is computed. As a result, there is no point at which demand equals supply.
Option a is the correct answer to the given market equilibrium situation.
The tabulation of the rental price equilibriumRent Demand Supply
2,500.00 10000 15000
2,000.00 12500 12500
1,500.00 15000 10000
1,000.00 17500 7500
500.00 20000 5000
With a monthly rent of $2,000, the equilibrium quantity is 12,500 apartments.
If the government intends to reduce the equilibrium rent price by expanding apartment supply, it must construct
With 5,000 new flats, the equilibrium price will be $1,500.For more information about market equilibrium, refer below
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True or false? Affinity Audiences allows advertisers to reach people who’re actively researching and intending to buy the products or services they offer.
Answer:
True
Explanation:
Affinity audiences are part of an audience that is targeted for an advertiser’s display campaigns. Advertisers raise their product awareness by targeting groups based on their passions, lifestyles and specific interests. Let us suppose that you have a new line of makeup that you wish to advertise. The best approach is to target women who constantly do a research of makeup and passionate about this environment.
The statement is false. Affinity Audiences targets individuals who have demonstrated an enduring interest in a specific subject or product while In-Market Audiences describes individuals actively researching and intending to buy products or services.
Explanation:The assertion is false. Affinity Audiences are used by advertisers to reach out to individuals who already have demonstrated an interest in the services or products they offer. These audiences are usually those who have shown a long-term interest in a certain area. On the other hand, In-Market Audiences would be the term used to describe people who are actively researching and intending to buy products or services. In-Market Audiences can provide a powerful tool to advertisers looking to reach a group of people who are ready to make a purchase.
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After a customer buys a computer or receives service from Tech Geek, a service representative contacts each customer to conduct a survey. The survey information is a form of output.
A. True
B. False
Answer:
B) False
Explanation:
The survey information is a form of feedback which returns as information input to the company. Surveys are an extremely important tool that can help a company measure the perceived quality of their products or services. Any complaints received can help to improve the production process, and eventually improve your products and services. Some customers like being surveyed because they believe that the company cares about them and it increases their loyalty to the brand.
Estimate of total percentage of total outstanding stocks globally held unhedged on the trading books of top investment bank dealers
The direct estimate of unhedged stocks held by investment bank dealers globally isn't provided, but the broad ownership and value of global assets suggest it's a portion of the massive financial market. Banks' solvency issues and the diversity in the investment landscape offer insights into the potential scale of these unhedged positions.
The estimate of the total percentage of outstanding stocks globally held unhedged on the trading books of top investment bank dealers is not directly provided in the reference information. However, looking at the broader financial landscape can give some perspective. With $3.5 trillion held by U.S. households, companies, and governments, $3 trillion by asset managers, $2.5 trillion by the Federal Reserve, $2 trillion by banks and insurance companies, and nearly $7 trillion held overseas, the extensive diversification of stock ownership indicates that the fraction of total outstanding stocks held unhedged by investment bank dealers is likely to be just a part of the vast global market. Serious solvency issues affecting banks, which account for more than 30 percent of financial system assets, could hint at the scale of unhedged positions, given such issues can arise from significant unhedged exposure to market risks.
Investment portfolios globally contain a mix of private and public assets, with $100 trillion in private assets and a significant portion in equity and debt instruments. Within this context, equity involved in publicly listed and unlisted funds stands at about $3 trillion, with a growing trend seen in direct investment in infrastructure, illustrating the dynamic nature of market investments, including unhedged positions.
Top investment bank dealers hold around 40% of outstanding global stocks unhedged, including those from various entities and countries.
Top investment bank dealers hold approximately 40% of outstanding global stocks unhedged. This includes various entities like U.S. households, companies, governments, asset managers, banks, and insurance companies. An estimated $7 trillion worth of stocks are held overseas, with a significant portion by foreign central banks.
Cullen and MacNeil's is a printing press. It currently faces a threat from the electronic media. The company primarily views itself as a printing company instead of a company that delivers the benefits that the consumers want. In the given scenario, Cullen and MacNeil's outlook is an example of _____.
Answer:
Marketing myopia
Explanation:
Marketing myopia is a term that describes a situation in which a business or company is more focused on the products it offers rather than the customers. This term was coined by Theodore Levitt. Cullen and MacNeil’s can be said to be suffering from marketing myopia as the company’s program doesn’t take account of the changing lifestyle of the customers which tends to align towards electronic media, and as such would only be assuming there are no competitive substitutes for whatever products they are offering. We can say the company does not have the interest of customers at heart.