If the price elasticity of demand for a good is -0.40, then a 10 percent increase in price would result in: a. a 4.0 percent decrease in the quantity demanded.
What is price elasticity?Price elasticity of demand is the term used to describe the relationship between the percentage change in a product's quantity sought and the percentage change in price. It aids economists in understanding how supply and demand vary in response to price changes in a given good. Many people are willing to pay more for Apple products because of how well-known the Apple brand is. Even if the price goes higher, many consumers will continue to buy Apple iPhones. If it were a lesser-known brand, like Dell laptops, you would assume demand to be price elastic. To calculate price elasticity, divide the change in supply (or demand) for a good, service, resource, or commodity by the change in price.
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Social security and medicare are examples of:____.
a. free market functions.
b. market failures.
c. governmental interventions.
d. capitalism.
Answer:
c. governmental interventions
________ is the amount at which a liability could be incurred or settled in a current transaction between willing parties.
a. current value
b. fair value
c. settlement value
d. income value
In a current transaction between willing parties, income value is the maximum amount at which a responsibility could be assumed or settled.
Investors who focus on income value are comparable to those who invest in core value, with the exception that they are equally concerned with the dividend yield and the low valuation ratios of the equities they buy. As a result, Income Value portfolios frequently display current income that is above average and low PE ratios.
What is a dividend stock?
Income stocks are securities that, over time, and with little risk exposure, provide regular and consistent income, typically in the form of dividends. The majority of the security's overall profits may be produced by the high yield that income equities often offer.
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Ending finished goods inventory selling expenses administrative expenses what is the gross profit?
Gross Profit = Revenue - Cost of Goods Sold is the formula for calculating gross profit.
What is Gross profit?Gross profit is the amount of money your company makes after paying its expenses. Your net profit is your earnings after all expenses have been paid. The money that remains after an organization has paid for the products and services it sold is known as gross profit. The amount that is left over after all costs and taxes have been paid is the company's net profit.
The profit a company makes after deducting all of the expenses involved to producing and offering its goods or services is known as gross profit. The cost of goods sold (COGS) is subtracted from your total sales to determine gross profit.
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Expansion of competitive boundaries which allows customers many choices is called a?
Expansion of competitive boundaries which allows customers many choices is called a: global economy.
What is a global economy?A global economy is also referred to as globalization and it can be defined as the strategic process which involves the integration of various markets across the world to form a large global marketplace, especially through an expansion of competitive boundaries.
Basically, a global economy makes it possible for various companies to produce goods and services that are being used by consumers across the world.
This ultimately implies that, a global economy leads to economic prosperity for various companies in different countries because it ensures an increase in market efficiency while creating employment opportunities for the people who are seeking employment in that country, as well as the availability of numerous choices to consumers.
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When a customer does not understand his or her role in the service delivery process, he or she is contributing to provider:_____.
When a customer does not understand his or her role in the service delivery process, he or she is contributing to provider: Gap 3
What is the Gap 3?Gap 3 : The chasm between service quality requirements and actual service provision
The service members may encounter situations that cause this gap. It could happen as a result of poor training, inability, or reluctance to uphold the required service standards. It could result from ineffective evaluation and compensation systems. This disparity is primarily due to ineffective recruitment.
This gap may be caused by a failure to balance supply and demand. Also lacking are context, perceived control, and empowerment. An illustration would be a restaurant that communicates highly stringent criteria for the food it serves, but the personnel might not receive the right training on how to adhere to those standards.
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Break-even analysis for a service company involves:________
a. units of product manufactured.
b. units of product sold.
c. profit margin.
d. unit of analysis.
Break-even analysis for a service company involves unit of analysis.
What is Break-even analysis?
Break-even analysis calculates a company's margin of safety and compares it to the revenue the company generates and its associated costs. In other words, the analysis shows the turnover required to cover operating costs. Break-even analysis determines the level of revenue required to cover the company's total fixed costs by analyzing different price levels in relation to different levels of demand. A seller's selling power is revealed to a large extent by demand-side research.
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A developer has approvals to start construction on a subdivision with 19 lots. what type of exemption means he probably won't have to provide disclosure reports to the government or buyers?
A full statutory exemption means he probably won't have to provide disclosure reports to the government or buyers.
laws and rules governing leadSeveral laws pertaining to lead have been passed by Congress. These regulations cover lead in air, water, paint, dust, and soil, as well as lead waste disposal. In accordance with these rules, EPA is addressing lead contamination and the problems it causes in a variety of ways, including by developing and implementing regulations. In order to assist the regulated community in complying with the regulations, EPA also provides policy and guidance publications.
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The cost of doing business is closely linked to the cost of money, which is known as:_______
The cost of doing business is closely linked to the cost of money, which is known as Operating cost.
What is Operating cost?
The ongoing costs related to the routine day-to-day operations of a business are known as operating costs. Costs of goods sold (COGS) and other operating costs, also known as selling, general, and administrative (SG&A) costs, are both included in operating costs.
The phrase "cost of goods sold" refers to expenditures that are directly connected to the manufacturing of a good, such as the supplies required to put one together and the transportation costs involved in getting goods from a distributor to a store. On a company's income statement, each sort of expense is listed as a separate line item.
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After posting all journal entries to accounts. the sum of accounts with debit balances should equal the sum of accounts with credit balances. True or false
Until all journal entries have been made to accounts. The total of the accounts with debit balances and the total of the accounts with credit balances should be equal. True
What is an entry in a journal?
An accounting record for a business uses a journal entry to document a commercial transaction. The general ledger is where journal entries are often made, however they can also be made in a subsidiary ledger and subsequently rolled forward into the general ledger after being summarized. The business's financial statements are then produced using the general ledger.
Every business transaction must be recorded in at least two places in order for a journal entry to make sense (known as double entry accounting). When you make a cash sale, for instance, both the revenue account and the cash account are increased. Alternatively, if you purchase items on credit, the inventory account and accounts payable account are both increased.
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Standby passengers on airlines who pay low rates for seats benefit from the low price. how are the airlines affected?
Standby passengers on airlines who spend low rates for seat profit from the low price. The airlines profit as long as the additional revenue from the passengers surpasses the marginal price.
What are the two most significant factors when determining ticket pricing?Seasonality and Destination Order are just two of the factors that influence your overall around the world ticket price. Flexibility is your companion when you're examining for lower fares, but it's also important to embrace spending a little more when essential to build the right trip for you.
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Firms must provide the right incentives if they are to get __________ to focus on long-run value maximization.
Firms must provide the right incentives if they are to get managers to focus on long-run value maximization.
Conflicts arise between managers and debtholders as well as between managers' clients, the shareholders, and those clients. Maximizing shareholder wealth may clash with managers' personal objectives.A manager is someone who is in charge of monitoring and inspiring workers as well as guiding the development of a company. The person in charge of customer service, who resolves client complaints, and who watches over and manages customer service representatives is an example of a manager.
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Rising wages and other costs are likely to negate any benefits mnes have of access to:______
Low-cost input factors.
What Are Wages?Wages are payments made to employees as compensation for time spent working for a firm. Wages are always paid depending on a specific period of time. Typically, this is done on an hourly basis. The phrase "hourly laborer" originated in this way. Salary and commissions are examples of additional forms of payment.
What Does Wage Mean?Lower level employees are compensated according to the number of hours they put in. To record the number of hours worked each week, these personnel typically use time sheets or time cards. The majority of contemporary firms use computerized systems to monitor the hourly work of their employes.
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The short-run aggregate supply curve shifts to the right? when production costs rise when production costs fall when exchange rates rise when exchange rates fall
Answer:
In this lesson summary review and remind yourself of the key terms and graphs related to short-run aggregate supply. topics include sticky wage theory and menu cost theory, as well as the causes of short-run aggregate supply shocks.
burger king locates a franchise across the street from a mcdonalds. at play here is the principle of
McDonalds locates a franchise across the street from the Burger King restaurant. The competitive principle is at play here.
A franchise is a kind of license that enables a franchisee to use the franchisor's brand name to sell goods and services by having access to the franchisor's secret business techniques, procedures, and trademarks. The franchisee typically pays the franchisor an initial start-up cost and yearly licensing fees in exchange for obtaining a franchise. For entrepreneurs looking to enter a highly competitive industry like fast food, franchises are a common choice. Owning a franchise gives you access to a well-known company's brand name, which is a significant benefit.
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Economies of scale imply that within some range one can increase the size of operation and?
Economies of scale imply that within some range one can increase the size of operation and the average total cost will go down.
What is Economies of scale?In microeconomics, economies of scale refer to the cost advantages that businesses experience as a result of their size of operation. These cost advantages are often quantified by the amount of output generated in a given amount of time. An expansion in scale is made possible by a drop in the cost per unit of output.There are two different kinds of economies of scale: internal and external. When compared to external economies of scale, which arise as a result of more significant developments outside the organization, internal economies of scale are firm-specific or created inside. Despite the fact that both lead to lowering marginal costs of production, the overall consequence is the same.Learn more about Economies of scale here:
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A firm has total debt of $1,360 and a debt-equity ratio of .21. what is the value of the total assets?
A firm has total debt of $1,360 and a debt-equity ratio of .21. the value of the total assets is
Total debt/total equity = debt/equity ratio (multiply times total equity and divide by debt/equity ratio)
Total equity = total debt / (debt/equity ratio)
Total assets = total debt + total equity
Total equity = $1,310 / .25 = $5,240
Total assets = $1,310 + $5,240= $6,550
In financial accounting, an asset is a resource owned or controlled by a company or entity. It is anything that can be used to create positive economic value. An asset represents the value of an asset that can be converted into cash. Assets are reported on the company's balance sheet. They are classified as short-term, fixed, financial, and intangible. They are purchased or created to add value to the company or to benefit the company's operations. Assets can be thought of as anything that can generate cash flow, reduce expenses, or increase sales in the future, whether it's manufacturing equipment or patents.
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A ______ driven project portfolio system can reduce or eliminate the impact of problems in project implementation.
A priority driven project portfolio system can go a long way to reduce, or even eliminate, the impact of these problems.
What is the significance of project management?Project management refers to the process of using specific knowledge, skills, tools and techniques to deliver something of value to people.
Project management is the application of processes, skills, methods, knowledge and experience in such a deliberate way to achieve specific project objectives.
Basically, project management works according to the project acceptance criteria within agreed parameters.
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If a firm has fixed costs of $250,000, a market-based selling price of $50 per unit, and it expects to sell 20,000 units, how low must its variable costs be to break even?
The variable costs would have to be as low as $37.50 to break even
What is break-even units?
The breakeven units, which is the number of units the company has to sell to ensure its total costs are the same as the revenue can be determined as the fixed costs divided by the contribution margin per unit, which is the market-based selling price minus the variable cost per unit
break-even units=fixed costs/(market-based selling price-variable cost)
break-even units=its target sales units=20,000
fixed costs=$250,000
market-based selling price=$50
variable cost per unit=unknown(assume it is VC)
20,000=$250,000/($50-VC)
20,000*($50-VC)=$250,000
$1,000,000-20000VC=$250,000
$1,000,000-$250,000=20,000VC
$750,000=20,000VC
VC=$750,000/20,000
VC=variable cost=$37.50
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Which statistical tool is most useful when selecting an allocation base for cost pools?
Correlation is the statistical tool is most useful when selecting an allocation base for cost pools.
Correlation, in the finance and investment industries, is the statistic that helps in measures the degree to which two securities move in relation with each other. Correlations are usually used in advanced portfolio management, computed as the correlation or coefficient, which has a value that must fall between -1.0 and +1.0. Correlation is the statistic that measures the degree to which two variables move with relation to each other. Correlation is closely tied to be in diversification, the concept that have certain types of risk can be mitigated by investing in assets that are not correlated.
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A chain of activities performed by the organization to transform inputs into outputs valued by the customer is:__________
A chain of activities performed by the organization to transform inputs into outputs valued by the customer is Value Chain
What is the value chain of an organization?
A value chain is a set of activities that an organization carries out to create value for its customers. Porter proposed a general-purpose value chain that companies can use to examine all of their activities and see how they're connected.A value chain analysis is when a business identifies its primary and secondary activities and subactivities, and evaluates the efficiency of each point. A value chain analysis can reveal linkages, dependencies, and other patterns in the value chain.The value chain concept was first described in 1985 by Harvard Business School professor Michael Porter, in his book Competitive Advantage: Creating and Sustaining Superior Performance.
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Debra notes that theo chocolate has started holding its own operations to the same imo standards of fair trade to which it holds its suppliers. This type of behavior encourages more ethical decision-making by sends a powerful message to employees and customers. True or false?.
Debra points out that Theo Chocolate has begun holding its internal operations to the same fair trade standards that it holds its suppliers to. This type of behavior encourages more ethical decision-making by sending a powerful message to employees and customers is a True Statement.
Making ethical decisions is founded on fundamental character traits including reliability, commitment, respect, justice, compassion, and good citizenship. Ethical judgments lead to ethical activities, which serve as the cornerstone of ethical business operations.
For instance, we can state that it is ethically required of parents to provide for their children, both because doing so is right and because not doing so is immoral. Without parental care, the children would struggle and eventually pass away.
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______ budgeting is the process of planning and managing a firm's long-term assets.
The act of planning and managing a company's long-term assets is known as "capital budgeting."
What is Long-term assets?
Assets that a company may foresee utilizing, replacing, or turning into cash after the ordinary operational cycle of at least 12 months are referred to as long-term assets, also known as fixed or capital assets. They usually remain in use for many years. This distinguishes them from current assets, which companies typically exhaust within a year of purchase. Since they are more difficult to convert into cash than current assets, they are frequently referred to as illiquid assets. The balance sheet also displays long-term assets in addition to current assets. They collectively represent all of a company's assets. The portion of long-term assets used annually is reflected on the income statement for that time period, either as amortization expenses for tangible and intangible assets or as depletion expenses for natural resources.
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In the marketing mix, which element of the four ps communicates value to the consumer?
Promotion is the element of the four p's communicates value to the consumer.
Promotion refers to the communicating value which means communicating product to the consumer so that everybody is aware about the product. it can be done by advertising, after sales service, press reports, incentives .
Marketing mix is defined as set of activities, methods which the company use to promote its product in the market.
4 P's of marketing mix are price , place , product , promotion.
Price refers to the value which is set for the product. it is estimated by cost of production by adding gross margin in it.
Product refers to the item which is being actually sold. product should be unique and satisfactory to the needs of people.
Place refers to the area where the product is being sold. it should be sold at proper place where attraction of buyers is more . it is basically the point of sale.
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A common challenge writers face with adjustment letters is deciding whether or not to issue an _________________ as part of the message.
A common challenge writers face with adjustment letters is deciding whether or not to issue an apology as part of the message.
What is apology?
An apology is an expression of regret or remorse for one's acts, while making an apology is the manner of creating apologies. it is able to be known as announcing sorry in informal settings. The cause of creating an apology is regularly to are seeking forgiveness, reconciliation, and the repair of the connection between the parties to a war.whilst one individual has insulted the opposite, the nature of apologizing includes at least different folks.The attribution principle states that presenting an apology as quickly as viable reduces discussion war of words and improves verbal exchange pleasure. The outcome and the technique of forgiving are impacted by using how the apology is added. as an example, expressing honest remorse in an apology normally helps a quicker decision of conflicts and the eradication of unsightly emotions. there are many ramifications and moral guidelines that organizations and organizations may adhere to while coping with a crisis.To learn more about apology visithttps://brainly.com/question/2236259
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14. Fine Exporters Limited, a leading exporter from Ahmedabad, exports ready made cotton garments to
European market regularly. The factory received an order to deliver an order worth Rs. 25,00,000 within
4 weeks to a client based in Germany. Unfortunately there is acute power crisis in the city and so the fac-
tory faces several power cuts during the day. The owners of the business promptly invest in a generator
to overcome this problem by incurring a heavy expenditure of Rs.2,00,000. Due to this, despite the power
cuts, the business is able to deliver its order to the German client on time.
What does this highlight?
It highlights sunk cost which is a previously incurred expense that cannot be recovered.
A sunk cost is a previously incurred expense that cannot be recovered. These costs should not be considered in decision-making. A sunk cost varies from future costs that a company may face, such as inventory purchase costs or product pricing decisions. Sunk costs are exempted from future company choices as they will remain constant regardless of decision outcome. A manufacturing company, for example, might have a number of sunk costs, such as the expense of machinery and equipment, as well as the cost of factory lease. Institutions should only take into consideration the following costs when making financial decisions, which include future costs that must still be incurred.
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If a company's formal communication network contains many levels of hierarchy:__________
If a company's formal communication network contains many levels of hierarchy upward and downward communication tend .
What is formal network of communication?
Formal communication networks are arrangements of connected individuals and systems that use official channels for information exchange and communication.
What are four types of formal communication network?
The way that employees communicate with one another within an organization is referred to as a communication network. The wheel network, chain network, circle network, and all-channel network are four examples of various sorts.Types of formal communication-
Memos.Intranet.Meetings.Conferences.Formal One-on-Ones.Bulletin Boards.Handouts.Learn more about communication network
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The principles and assumptions that the management of a company uses to record and report its financial information are called?
Answer: GAAP - Generally Accepted Accounting Principles
Explanation:
What is GAAP ?
A group of commonly followed accounting rules and standards for financial reporting is known as generally accepted accounting principles (GAAP or US GAAP). The objectives of GAAP, the standard set by the U.S. Securities and Exchange Commission (SEC), include rules related to every industry as well as descriptions of concepts and principles. GAAP is intended to ensure that financial reporting is fair and accurate throughout all organizations.
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The guiding principles and presumptions that a company's management employs to record and disclose its financial information are referred to as GAAP (Generally Accepted Accounting Principles).
"Generally recognized accounting principles" are a set of regularly used accounting guidelines and requirements for financial reporting. The objectives of GAAP, the standard set by the U.S. Securities and Exchange Commission (SEC), include rules for every industry as well as explanations of concepts and principles.
GAAP seeks to provide fair and honest financial reporting for all businesses.
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The assigns punishments to companies whose employees are involved in forms of workplace deviance. True or false?.
The U.S Sentencing Commission assigns punishments to companies whose employees are involved in Serious forms of workplace deviance.
What are workplace deviance?In group psychology, workplace deviance is defined as the conscious (or purposeful) desire to hurt an organization, more especially a workplace. In the area of organizational communication, the idea has grown to be crucial. The phrase "voluntary conduct that breaches established standards and, in doing so, harms the organization's well-being" is more accurate. People frequently form psychological contracts with their firms, and as a result, employees frequently develop a set of expectations about their job. The employee may "perceive a psychological contract violation by their employers" when expectations are not met.
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What summary measures would be appropriate to describe the variable 'lowbt'?
There are four repeatedly used measures of variability: the range, interquartile range, variance, and standard deviation. The standard deviation is the most typically used and the most important measure of variability.
How do you measure variables in research?Statistical variables can be calculated using measurement instruments, algorithms, or even human control. How we measure variables is called the scale of dimensions, and it affects the type of analytical techniques that can be used on the data, and decisions that can be drawn from it.
Standard deviation uses the mean of the allocation as a reference point and measures variability by regarding the distance between each score and the mean.
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When an employee complains to his or her employer about racial harassment, the employer should:________
When an worker complains to his or her organisation about racial harassment, the company ought to take action on that and make sure that no racial harassment occur within the employees.
What is racial harassment in workplace?Racial harassment includes unwelcome and racially offensive behavior in the workplace. The harasser can be your supervisor, a supervisor in another area, a co-worker, or any one who does not work for your employer, such as a consumer or customer.
What qualifies as harassment?Harassment can consist of things like verbal abuse, bullying, jokes, making faces and posting comments about you on social media. It also includes sexual harassment.
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