The use of the phrase "other things constant" in supply and demand analysis indicates that we are considering changes in just one factor.
In economics, the relationship between the quantity of a good or service that producers want to sell at different prices and the quantity that consumers want to buy is known as supply and demand. It serves as the primary model for determining prices in economic theory.
These are illustrations of how the law of supply and demand operates in actual situations. A corporation decides to charge $10.00 for its goods. The item is no longer in demand, so the price is reduced to $9.00. At the new, lower price point, demand for the product rises and the business starts to turn a profit.
The link between supply and demand is crucial because it helps to establish the costs and availability of the majority of goods and services in a given market. The interplay between supply and demand eventually balances out in accordance with the tenets of a market economy.
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The complete question is ''The use of the phrase "other things constant" in supply and demand analysis indicates that:
we are considering changes in just one factor.
an equilibrium quantity has been reached.
an equilibrium price has been reached.
we are considering all the changes which might take place in actual markets.
suppose you purchase a 7-year, 6% semi-annual coupon bond for 91.136. if the yield remains constant and you reinvest the coupons you receive at that yield, what will be the value of those coupons when the bond matures in 7 years?
54.24 will be the value of those coupons when the bond matures in 7 years.
When a bond matures, what does it mean?
The term to maturity of a bond is the time period in which the owner will receive interest payments on the investment. When the bond matures, the owner receives its par, or face, value back. The term to maturity of a bond may fluctuate if it has a put or call option.
Par value of Bond =100
Price =91.136
Semi annual Coupon =Par Value[tex]\times[/tex]Coupon/2 =100[tex]\times[/tex]6%/2=3
Number of Periods =7[tex]\times[/tex]2 =14
Semi annual Rate using financial Calculator
N=14;PMT=3;PV=-91.136;FV=100;CPT I/Y =3.8297%
Value of coupons when it matures in year 7 =Coupons[tex]\times[/tex]((1+r)[tex]^n-1[/tex])/r) =3[tex]\times[/tex]((1+3.8297%)[tex]^14-1[/tex])/3.8297%) =54.24
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Which scenario demonstrates a wise use of credit cards?
Spencer chooses a credit card with a low-interest rate and low credit limit. He pays off the total charges each month and this demonstrates a wise use of credit cards.
What is a credit card?A credit card is a payment card issued to users or cardholders to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt, that is, a promise to the card issuer to pay them for the amounts plus the other agreed charges.
The card issuer, which is usually a bank or credit union, creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance. There are two credit card groups, they are consumer credit cards and business credit cards. Most cards are plastic, but some are metal cards, stainless steel, gold, palladium, titanium and a few gemstone-encrusted metal cards.
In total, there are four types of credit cards.
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sonronmedia sells books by having salespeople set up appointments with potential customers and give them a sales pitch for the product. when a salesperson sells a book, he or she gets a predetermined percentage commission. this type of business model is called
When a salesperson sells a book, he or she then gets a predetermined percentage commission. So, this type of business model is called an agency.
An agency is considered to be a business, firm, or an organization which tends to provides a specific service. Thus, it is seen that often, but not always, agencies work on the behalf of another group, person, or a specific business.
So, as sonronmedia who sells books by having salesperson set up appointments with their potential customers and give them a sales pitch for the product.
Thus, this type of business model can be considered as an agency.
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why is marketing return on investment (roi) so difficult to measure? question content area bottom part 1 a. customer-centered measures are inconvenient. b. the market economics constantly change. c. marketers do not keep adequate records. d. marketing dashboards are inconsistent. e. there is no consistent definition.
Option (e), which states that there is no uniform definition, is the correct response.
Why is it so difficult to calculate the return on investment (roi) in marketing?The fact that marketing initiatives are continual is one reason why they are challenging to monitor. Nevertheless, we compute ROI across predetermined time frames. As a result, there must be a defined start and end date for the analysis of marketing ROI. Choosing the right metrics to use is another difficult decision.
Marketing return on investment (ROI) measurement is challenging for three main reasons:
Some marketing initiatives have no clear correlation to sales. There is no agreed-upon procedure for figuring out what qualifies as a marketing cost. It's impossible to count some payback cycles.Learn more about return on investment (ROI): https://brainly.com/question/11913993
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Question 9 of 20:
Select the best answer for the question.
9. A
is a study of the tasks required to do a particular job well.
O A. task delineation
O B. job analysis
O C. job survey
OD. job forecast
A study of the tasks required to do a job well is called job analysis. A job analysis can assist a business in updating crucial procedures and data, such as pay information depending on duties.
What is meant by job analysis?Job analysis exists the technique of acquiring and examining data regarding the subject matter, human requirements, and environment in which a job exists performed. This method is used to decide where to position employees.
Job analysis exists a series of processes utilized to pinpoint the actions that create up a job's content as well as the skills or prerequisites required to carry them out.
A job analysis can assist a business in updating crucial procedures and data, such as pay information depending on duties. The responsibilities of each position reporting to management can be better understood with the use of a job analysis.
Therefore, the correct answer is option B. job analysis.
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(Table) Based on the table, assume that a bottle of water costs $2. The marginal utility per dollar for the third bottle of water is
The marginal utility per $1 is $20 for the third water bottle because He will be less satisfied with a subsequent bottle of water because the marginal utility declines after the first one.
What is the process of marginal utility?The additional pleasure a consumer experiences from owning one more unit of an item or service is referred to as its "marginal utility." Economists employ the idea of marginal utility to forecast the quantity of a good that buyers would buy. Progressive taxation can frequently be justified by applying the declining marginal benefit criterion.
How is marginal utility calculated?Marginal utility is typically defined in economics as total utility change divided by change in the quantity of products. This is how the equation looks: Marginal utility is equal to the difference between the total utility and the difference between the commodities.
In the above ques:
He will be less satisfied with a subsequent bottle of water because the marginal utility declines after the first one.
Marginal utility = third bottle's total utility - second bottle's total utility
marginal utility= 90-70
Marginal Utility= 20
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the white star employee who was on board the olympic when it collided with the hawke and almost sank, then not even a year later was working on the titanic
Violet Jessop was very fortunate to have escaped the sinking of the Olympic as well as the Titanic and Britannic.
Jessop, an Irish immigrant who was born in Argentina in 1887, was diagnosed with tuberculosis at an early age and was only supposed to live for a few months. Jessop's mother relocated the family to England after her father passed away, where she started a job as a ship's stewardess. Violet, who was a student at a convent school, took over as a ship stewardess when she fell unwell.
Violet, who is only 21 years old, had trouble landing a job as a stewardess because potential employers were concerned that her attractiveness and youth would "create difficulties" with the staff and passengers. (In actuality, during the course of her career, she did get at least three proposals, one from a wealthy first-class traveler.)
After a brief spell on the Royal Mail Line steamer Orinoco, Violet made the decision to dress dowdily and go without makeup. As a result, in 1908, the White Star Line hired her to work on the Majestic.
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on september 12, ryan company sold merchandise in the amount of $6,400 to johnson company, with credit terms of 3/10, n/30. the cost of the items sold is $4,300. johnson uses the periodic inventory system and the net method of accounting for purchases. the journal entry that johnson will make on september 12 is:
An invoice, bill, or tab is a business document that a seller issues to a buyer in connection with a sale transaction.
What is an invoice?An invoice, bill, or tab is a business document that a seller issues to a buyer in connection with a sale transaction. It lists the goods, quantities, and prices that were agreed upon for any goods or services that the seller has delivered to the customer.In most cases, the invoice includes the payment terms. These can stipulate that the buyer has a set number of days to pay, and they might also give a discount for payments made in advance of the payment due date. The goods or services specified on the invoice might have already been paid for by the buyer. Some sellers indicate in huge, capital letters on an invoice if it has already been paid to prevent misunderstandings and the ensuing needless interactions from buyer to seller.Accounts payable = $6400
As soon as a purchase is made, the company enters the invoice into the accounting system for the entire amount due, without any discounts, So:
Purchases = $6400 Debit
The terms of payment are 3/10, and n/30, which indicates that the discount is applied if the payment is paid within the first 10 days of the invoice date. The entry is as follows because the invoice was issued on September 12 and the payment was paid on September 18:
Accounts Payable = $6400 Debit
Purchases Discounts = $116 Credit
Cash = $6384 Credit
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The Equal Pay Act of 1963
a. mandates a minimum wage and accurate record keeping for hours worked
b. protects employees against gender-based wage discrimination
c. provides monetary damages in cases of intentional employee discrimination
d. requires higher salaries for veterans and their family members
Answer:
B
Explanation:
they had major discrimination to females at that time
Answer:
the answer is choice B.
Explanation:
derek can deposit $11,000 on each birthday beginning with his 26th and ending with his 65th. what will the rate on the retirement account need to be for him to have $3,000,000 in it when he retires on his 65th birthday?
The yield to maturity is 8.5161% will the rate on the retirement account need to be for him to have $3,000,000 in it when he retires on his 65th birthday.
Future value= $3,000,000
Annual deposit = $11,000
Time= 65 years - 26 years = 39 years
The question is solved by computing the yield to maturity.
The yield to maturity is calculated by entering the below in a financial calculator:
FV= 3,000,000
N= 39
PMT= -11,000
CPT key and I/Y to compute the yield to maturity
The value obtained is 8.5161.
Therefore, the yield to maturity is 8.5161%
What is the annual deposit?Annual Deposit implies the sum of $38,000 per year to be kept into the Replacement Save Finance by this Agreement; given, in any case, that the sum of the Annual Deposit might be reduced to the degree it would otherwise cause the adjustment of the Replacement Save Support at the time of store too. annual interest can be calculated by dividing the annual interest rate on the CD by 100 to convert it to a decimal.To learn more about an annual deposit, refer;
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jenny enterprises has just entered a lease agreement for a new manufacturing facility. under the terms of the agreement, the company agreed to pay rent of $17,000 per month for the next 7 years with the first payment due today. if the apr is 7.56 percent compounded monthly, what is the value of the payments today?
Jenny enterprises have just entered a lease agreement for a new manufacturing facility. the value of the payments today is
Value of payments today = 1113170.60
This is further explained below.
What are enterprises?Enterprise is another term for a corporation or firm that operates for the purpose of making a profit; nevertheless, the term is most often used to refer to activities undertaken by entrepreneurs.
People who have been successful in business sometimes have the adjective "enterprising" attached to their names. There are many other kinds of legitimate businesses, but the one that is most widespread in the United States is the corporation.
rate per month r= 0.63%
Number of months n = 84
Rent per month P = 17000
Generally, the equation for the Value of payments today is mathematically given as
Value of payments today [tex]= P + \frac{P*(1-(1+r)^{-(n-1))}}{r}[/tex]
Value of payments today = [tex]17000 + \frac{ 17000 * 1 - (1+0.63 \%)^{-(84-1)} }{ 0.63 \%}[/tex]
Value of payments today = 1113170.60
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job description should ideally be developed jointly by the department manager and human resources without the involvement of the persons who may presently be performing the job.
The statement is false.
The required details about job description is mentioned in below paragraph.
A job description is a formal explanation of the essential competencies, obligations, and skills required to carry out a certain activity. A thorough job description will detail how success in the position is assessed for use in performance reviews.
A job description's worth.
In order for candidates to decide whether the position fits with their skill set and whether it is a job they genuinely want to undertake, a job description is a crucial component of the job application process.
According to the organization, the job description is essential to ensuring that the applicants for the post closely reflect the requirements of the role itself.
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bly and ahmik are partners in a sandwich shop. they have been struggling for the last couple of years and, finally, decide to close the sandwich shop and dissolve the partnership. during the winding-up process, ahmik spends most of his time pursuing his next venture, so bly is handling most of the work involved in collecting and preserving partnership assets and paying the debts of the partnership. if bly requests payment for his services in winding up the partnership:
As Bly is the only one who is giving his maximum time in winding up the partnership by preserving the assets and paying the debts, thus he is entitled to payment for those services.
What is a partnership business?A partnership business refers to the formal agreement generally made by two or more person to jointly manage and operate a company for the attainment of the particular goals.
Partnership business is a type of business that consists of two or more people who combine their resources in order to establish a business and agree to share risks, profits and losses.
Basically, in partnership business each partner contributes money, property, labor or skill, and shares in the profits.
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private and nonprofit sectors are encouraged to develop contingency plans and to work with state; tribal; and local planners to ensure that their plans are consistent with other pertinent plans.
Private and nonprofit sectors are encouraged to develop contingency plans and to work with state; tribal; and local planners to promote that their plans are consistent with other pertinent plans. -------True
The given statement is correct .
What does contingency plan mean?
A contingency plan is defined as a course of action designed and framed to aid an organization to respond effectively to a significant future incident, event or situation that may or may not happen.
What is the difference between private and nonprofit?The most important difference between a private foundation and a public charity is the way in which funds are acquired.
A private foundation is commonly funded by an endowment from a single source, while a public charity must continually solicit donations from an individuals and organizations.
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assuming a country's economy maintains an 8% rate of growth, young adults starting at age 20 would see the average standard of living in their country more than double by the time they had reached age . group of answer choices 30 40 50 60
If the rate of growth is 8%, young adults starting at age 20 will see the average standard of living in their country more than double by the time they reach age 30, and grow nearly sevenfold by the time they reach age 45.
The answer is option A) 30.
Calculating the actual monetary growth rate
Actual GDP = GDP / (1 + inflation for the reason that base year)Real GDP growth price = (maximum latest 12 months' actual GDP - the ultimate yr's real GDP) / the previous 12 months's real GDP.Actual GDP = (Nominal GDP / GDP Deflator) *a hundred.The typically popular degree of the usual of living is GDP consistent with per capita. 2 this is a country's gross domestic product divided by its populace. The GDP is the overall output of goods and services produced in a yr by anyone inside the country of a's borders.
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which best describes an uninformed consumer?responsesbuys products based on celebrity endorsementsbuys products based on celebrity endorsements,knows how to identify reliable, trustworthy sources of informationknows how to identify reliable, trustworthy sources of information,careful not to buy every fad that appears on the marketcareful not to buy every fad that appears on the market,aware of quackery
Buys products based on celebrity endorsements describes an uninformed consumer.
Celebrity endorsements are used by businesses to market and sell their goods to consumers. A celebrity's endorsement of a product does not necessarily imply that they utilise it or that it is a quality item. Long-term brand awareness and short-term sales growth are both aided by celebrity endorsement.
A consumer must be knowledgeable about every aspect of a product and determine whether it can in any way satisfy his needs. The launch of a new product, the growth of a market, or the repositioning of a brand are all excellent examples of significant changes that can be marked by celebrity marketing. Therefore, relying solely on celebrity endorsements to make a purchase reveals an ignorant consumers.
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at the beginning of the year, long-term debt of a firm is $310 and total debt is $340. at the end of the year, long-term debt is $270 and total debt is $350. the interest paid is $36. what is the amount of the cash flow to creditors?
If at the beginning of the year, long-term debt of a firm is $310 and total debt is $340. at the end of the year, long-term debt is $270 and total debt is $350. the interest paid is $36. the amount of the cash flow to creditors is $76.
Cashflow to creditorsFirst step is to find the Net new borrowing using this formula
Net new borrowing = Ending Long-term debt - Beginning Long-term debt
Let plug in the formula
Net new borrowing = $270 - $310
Net new borrowing= ($40)
Second step is to calculate the cash flow to creditors using this formula
Cash flow to creditors = Interest paid - Net new borrowing
Let plug in the formula
Cash flow to creditors = $36 - ($40)
Cash flow to creditors = $ 76
Therefore we can conclude that the Cash flow to creditors is the amount of $76.
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When an entrepreneur creates economic value by changing their personal tacit knowledge about a novel business process or innovation into explicit knowledge that can be franchised, this is an example of what knowledge management activity?.
When an entrepreneur creates economic value by changing their personal tacit knowledge about a novel business process or innovation into explicit knowledge that can be franchised, this is an example of a knowledge management activity called "Utilizing Knowledge"
What is knowledge management?It is to be noted that there are four basic Knowledge Management activities that may or may not be fully or partially synthesized into any operating model. They are:
CreatingStoring Sharing andUtilizing knowledgeKnowledge management is the collection of ways for developing, distributing, using and managing an organization's knowledge and information.
It refers to a comprehensive approach to achieving organizational goals by making the greatest use of information.
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Corrie bought a new flat screen 70 inch television and a speaker system from a local electronics store on credit. The store will charge 12% per year compounded monthly. Their monthly payments are $174. 80 for 3 years. What is the cash price of her purchase?.
The cash price of her purchase is $5262.79
Present value=C*[1 - (1+i)^(-n)]/i
C=amount of payment per period
i=interest rate
n=number of payments
In this problem,
C=$174.80
i = 12% per year compounded monthly
= 12/(12*100)
= 0.01
n = 3*12 = 36 months
= Present Value = 174.80*[1 - (1+0.01)^(-36)]/0.01
Cash price = $5262.79
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starforce avionics makes aircraft instrumentation. its basic navigation radio requires $60 in variable costs and $3,000 per month in fixed costs. further processing the radio, to enhance its functionality, will require an additional $26 per unit of variable costs but no change to the fixed costs. the marketing manager believes that the company would be able to increase the sales price from $270 to $290. if starforce decides to further process the product, operating income would: question content area bottom part 1 a. decrease by $6 per unit b. remain the same c. increase by $86 per unit d. increase by $26 per unit
If Starforce decides to further process the product, operating income would decrease by $6 per unit. Though there is increase in Gross Income per unit.
As we know that,
Operating Income = Gross Income – Operating Expenses
Increase in Gross Income per unit is :
$290 - $270= $20
Given, there is an additional $26 per unit of variable costs but no change to the fixed costs to further process the product.
Change in Operating Income = Change in Gross Income – Change in Operating Expenses
= $20- $26
= - $6
Negative sign indicates a decrease in the Operating Income.
Hence, operating income would decrease by $6 per unit.
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the fraud triangle contains three elements that must exist for accounting fraud to occur. the elements are: a. motive, opportunity, and means. b. greed, larceny, and access. c. fear, greed, and satisfaction. d. incentive, opportunity, and rationalization.
The fraud triangle contains three elements that must exist for accounting fraud to occur, the elements are: D. incentive, opportunity, and rationalization.
What is a skimming fraud?A skimming fraud can be defined as a type of fraud that involves a criminal (thief) illegally capturing the credit card information of a cardholder without the holder's knowledge, so as to perform unauthorized transactions with it in the future.
Under the fraud triangle, there are three (3) main elements that helps any accounting fraud to occur and these include the following:
IncentiveOpportunityRationalization.In this context, we can reasonably infer and logically deduce that incentive, opportunity, and rationalization are the three (3) main elements of the fraud triangle paradigm.
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on january 1, year 2, kincaid company's accounts receivable and the allowance for doubtful accounts carried balances of $31,000 and $500, respectively. during the year kincaid reported $72,500 of credit sales. kincaid wrote off $550 of receivables as uncollectible in year 2. cash collections of receivables amounted to $74,550. kincaid estimates that it will be unable to collect one percent (1%) of credit sales.
NRV of accounts Receivable = $27,725
Accounts Receivable Balance on Jan-1 Year 2 = $31,000
(+) Credit Sales = $72,500
(-) Cash Collections = $-74,550
(-) Written off Unollectible = $-550
Accounts Receivables Gross AT end of Year 2 = $28,400
Allowance for Doubtful debts Balance on Jan 1 year 2 = $500
(-) Written off Uncollectible = $-550
(+) Allowance required for credit sales for the period 1% = $725 (72500*1%)
Allowance for Doubtful debts Balance at end of year 2 = $675
NRV of accounts Receivable = $27,725 (28400-675).
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the academy for academic excellence has just announced their winner for the most successful student in mathematics. this student will receive a grant for their college education as well as national recognition for academic excellence in the field of mathematics. the grant will cover $12,177.17 of the cost of school per year for 5 years. if the initial amount is invested into an account over the five years, paying an annual interest rate of 5.5%, and you are to withdraw from this account until the remaining balance after the 5 years is zero dollars, determine the initial amount of the grant. round your answer to the nearest dollar.
The correct answer to the question is $52000. The annual withdrawal amount is $12,177.17. To determine the grant's initial amount, the Annuity's PV.
It has to be calculated:
Now, r = 1.055 and a = 12177.17.
Let x(0) equal the starting sum.
The amount increases to rx(0) after a year, then decreases to rx(0) - a. The sum after a year is therefore x(1) = rx(0) - a.
Annual withdrawal (A) = $12,177.17
r = 5.5%
n = 5 years
PV of Annuity= PMT * [1 - [(1 / 1+r)]/r],
Where P stands for present value,
PMT stands for the sum of each payment.
r = Interest or discount rate.
Now, PV of Annuity= 12177.17*[1-(1/1+0.55)]/5.5%]
=$52000 (approx)
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if an investor has an established margin account with a current market value of $6,000 and a debit balance of $2,500, with regulation t at 50%, how mu
The investor will have buying power of $1000 with current market value of $6000.
Buying Power :Buying power is that the money an investor has available to purchase securities. Buying power equals the entire cash held in the brokerage account plus all available margin. A typical margin account provides two times equity in buying power.
Buying power means to a customer's ability to reduce prices, enhance quality, or “commonly play industry participants off one another.
Simplification :The Regulation T requirement is 50% Of current market value
current market value = $ 6000
50% of $6000
= $3000
Equity is equal to current market value
= $6000 - debit balance
= $6000 - $2500
= $3500
Excess equity = current equity - Regulation T requirement
= $ 3500 - $3000
= $ 500
Buying power = excess equity × 2
= $ 500 × 2
= $ 1000
Hence, the investor will have $ 1000 buying power.
Current market value :
The current market value (CMV) gives parties interested in making a transaction the approximate current resale value for a financial instrument or asset. Current market price is related to an asset's liquidity, which is that the ease of which an asset can be converted from an investment into cash.
Question is incomplete , missing part is given below :
If an investor has an established margin account with a current market value of $6,000, and a debit balance of $2,500 with Regulation T at 50%, how much buying power does the investor have?
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consider two items that might be included in gdp: (1) the estimated rental value of owner-occupied housing and (2) purchases of newly-constructed homes. how are these two items accounted for when gdp is calculated?
The two items accounted for when GDP is calculated is Item (1) is included in the consumption component of GDP, while item (2) is included in the investment component of GDP.
Gross domestic product is a monetary measure of the market value of all final goods and services produced and sold by a country in a given period of time. Due to its complex and subjective nature, this indicator is often revised before being considered a reliable one.
GDP = private consumption + private gross investment + government investment + government expenditure + (exports – imports). GDP is usually calculated by a country's national statistical agency according to international standards.
GDP measures the monetary value of the final goods and services produced in a country (that is, purchased by final consumers) over a specified period of time (such as a quarter or a year). Counts all electricity generated within a country's borders.
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the inquiry analysis step of the iddr approach to ethical analysis of business decisions involves identifying the select and collecting the relevant select .
Inquiry analysis is the analysis where the information prior is collected and then the decision is matched with the outcome of results.
Ethical analysis is done on the product of the business which has gone to the process of the production. It involves the identification, decision making and realization of profit from the sales.
Iddr approach is the proper one from the identification, detection, decision making and reporting to the final results. Collecting enough data and sampling and relevant explanation with the examples should be made. Inquiry analysis is also helpful.
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1. what impacts do economic forecasts have on a firm’s functional areas? if management learns from the economic analysis of country a that wage rates are expected to increase by 10% next year, which functional areas of the firm will be concerned? why will this be of concern to management?
Forecasting helps businesses develop data-driven strategies and choices. Market conditions and predictions influence operations and finances.
This is further explained below.
What is Economic Forecasting?Generally, The technique of projecting the status of the economy by drawing from a broad range of commonly recognized indicators is known as economic forecasting.
Economic predictions are used by decision-makers in industry and government to assist in the formulation of future monetary and fiscal policies, as well as the planning of operational activities.
As a result of how controversial politics are, many reasonable people don't put much stock in the economic projections that are generated by the government.
Private-sector economists often get their forecasts incorrect because economic forecasting is difficult and susceptible to subjective human behavioral variables.
Forecasting is beneficial to businesses because it helps them to establish plans that are supported by facts and make intelligent choices about their operations.
The current situation of the market as well as projections for its development in the future are taken into consideration when making decisions about business operations and finances.
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a company's cash receipts procedures include the following. cashiers collect cash and issue a receipt at the point of sale. supervisors take custody of the cash at the end of each cashier's shift and deposit it in the bank. accounting staff then ensure the receipts from cash sales are properly recorded in the accounting system. which internal control principle is most evident with these procedures? a. independently verify b. segregate duties c. document procedures d. restrict access
Segregation of duties internal control principle is most evident with the company's cash receipts procedures.
Segregation of tasks is one of the fundamental ideas in establishing internal controls over a company's assets. One important internal control is the separation of duties, which prevents employees from being able to commit fraud or errors while also covering them up while performing their regular duties.
It has two main benefits: It guarantees that there will be oversight and evaluation to find mistakes and due to the fact that it takes two employees to conspire in order to conceal a transaction, it helps to prevent fraud and theft.
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In the pastJan's Dance Studio charged a late fee if monthly tuition payments were received after the due date. A behavioral economist suggested raising monthly tuition by $5 and giving a 5 discount for on-time payments. To the owner's great surprise, the number of late payments decreased dramatically after she followed this advice. What psychological factor might explain this phenomenon ?
After she took this suggestion, the number of late payments dropped significantly. A psychological component that explains this phenomena is framing bias.
The definition of framing biasThe term "framing bias" refers to the finding that how data is presented can have an impact on how people make decisions. The tale of Tom Sawyer whitewashing the fence by Mark Twain is the most well-known instance of framing bias. He persuaded his pals to pay him for the "honor" of completing his task by framing the chore in positive terms.
These people rely on language structure to convince them rather than facts and data. For instance, it is more probable that investors will respond favorably if an investment product is presented in an upbeat manner.
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the marketing team of 7 star inc., a company manufacturing smartphones, is currently studying the size, density, location, age, adn occupation of its target market
A company manufacturing smartphones, is currently studying the size, density, location, age, and occupation of its target market then in this scenario demographic environment has been studied.
Statistics used to define populations and their features are called demographics. A population's characteristics, such as age, race, and sex, are studied through demographic analysis. Statistics expressing socioeconomic information of smartphones, such as employment, education, income, marriage rates, birth and death rates, and more, are referred to as demographic statistics.
For a variety of objectives, including economic market research and policy formation, governments, businesses, and non-governmental groups utilize demography to learn more about the characteristics of a population. For instance, a firm that sells smartphones high-end RVs would wish to target customers who are approaching or are already retired and increase the number of people who can afford their goods.There are several methods to utilize demographic data to understand a population's characteristics in general.Learn more about Demographic, here
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