If consumer purchases of a good are highly sensitive to the price of the good, economists say the demand for the good is relatively elastic.
The demand for a product is considered elastic if the percentage change in quantity demanded is greater than the percentage change in price. This indicates that when the price of the product goes down, consumers are more willing to purchase the product. If the price of the product increases, consumers are less willing to purchase the product.
Elastic demand is typically seen with non-essential items or luxury items. For example, the demand for designer handbags or luxury cars may be elastic because consumers can easily substitute them with less expensive items. In contrast, the demand for necessities like food and medical care is typically inelastic because people are willing to pay whatever price is necessary to obtain them.
In summary, if consumer purchases of a good are highly sensitive to the price of the good, economists say the demand for the good is relatively elastic.
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jason works at a bottling plant for a soft drink company. he is part of a labor union, along with his co-workers. after the plant's management and the labor union fail to agree on contract terms, the union uses picketing and advertising to ask its members and the public not to buy the company's products. this scenario best describes
This scenario best describes as Boycott.
A boycott is an act of nonviolent, voluntary abstention from a product, individual, organization, or u . S . As an expression of protest. It's also for ethical, social, political, or environmental reasons. The purpose of a boycott is to inflict a few economic loss at the goal, or to suggest a ethical outrage, to attempt to compel the goal to alter an objectionable behavior. The phrase is named after Captain Charles Boycott, agent of an absentee landlord in eire, against whom the method became efficiently hired after a suggestion with the aid of Irish nationalist chief Charles Stewart Parnell and his Irish Land League in 1880.
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A car's real cost is its opportunity cost. Opportunity cost is determined by:
a. the price of the car
b. relative price
c. wealth
d. the price of the goods
A car's real cost is its opportunity cost. Opportunity cost is determined by relative price. The correct answer is b.
Opportunity cost is the value of the next best alternative that must be forgone when making a choice. In the context of a car's real cost, the opportunity cost refers to what else could have been obtained or done with the resources (money) used to purchase the car.
The determination of opportunity cost is based on the relative price, which compares the prices of different goods or services. It considers the trade-offs involved in choosing one option over another.
For example, if the price of a car is $30,000, the opportunity cost of buying the car could be the alternative uses of that $30,000, such as investing it, paying off debts, or purchasing other goods or services.
The price of the car (a) alone does not determine the opportunity cost, as it only represents the monetary value of the car itself. Wealth (c) refers to the accumulated assets and resources of an individual, but it is not directly related to opportunity cost. The price of goods (d) is not directly relevant to determining the opportunity cost of a car, as opportunity cost considers the trade-offs between different alternatives rather than the price of specific goods.
The correct answer is b.
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which situation is not a way to perform an internal search for information when deciding where to go get lunch?
Going to a new area of town and looking around is not an ideal way to perform an internal search for information when deciding where to go get lunch. Therefore, the option C holds true.
An internal search can be referred to or considered as a search wherein the factors related to the surroundings of an environment or an organization are taken into consideration. In addition to that, an internal search does not involve the external factors in the achievement of the desired results to come or show up.
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Complete question
Which of the following is NOT a way to perform an internal search for information when deciding where to go get lunch?
- you remember a coworker's great comments about the sushi bar down the street
- you decide not to go to the burger joint since it cooks your meal wrong every time
- you go to a new area of town and look around
- you are in the mood for BBQ and decided to go to your favorite restaurant
For the question below, write an explanation of the short-run effect (including the determinant of AD or AS that is causing the shift, the line that shifts (AD or AS), the direction of the shift (left or right), and the impact on output and price level (increase or decrease) and submit a properly drawn and labeled aggregate demand and aggregate supply graph for the scenario. Make sure your name and assignment number are written on each page of graphs you submit. All text must be written in the text box provided.
Congress passes a sweeping health care reform bill that provides free medical insurance for all Americans. Once the President signs it into law, the government will provide every American with a policy that will pay up to 80% of every medical bill a patient incurs. This change does not impact consumer income.
Explanation:
The passage of the health care reform bill would shift the aggregate demand (AD) curve to the right in the short run. This is because with the new policy, people would be able to afford more health care services, leading to an increase in the quantity of goods and services demanded at every price level. This would result in an increase in both output and the price level in the short run.
On the other hand, the aggregate supply (AS) curve would remain unchanged since the bill does not affect the costs of production or the available inputs.
Overall, the short-run impact of the health care reform bill would be an increase in output and a higher price level.
What is a public good?
A A public good is a product or service that one consumer can prevent another consumer from using, and is not accessible without
payment
B A public good is a product or service that one consumer cannot present another consumer from using, and is accessible without
payment
C A public good is a product or service that one consumer cannot prevent another consumer from using, and is not accessible without
payment
D A public good is a product or service that one consumer can prevent another consumer from using, and is accessible without payment.
I believe your answer is B
A public good is a product or service that one consumer cannot present another consumer from using, and is accessible without payment
The Bronsons sold their house on June 30, Year 2, under an agreement in which the real estate taxes were not prorated between the buyer and sellers. What amount should the Bronsons deduct as taxes in calculating itemized deductions for Year 2
The Bronsons should deduct the real estate taxes that they paid from January 1 to June 30 of Year 2 as part of their itemized deductions for Year 2.
Since the real estate taxes were not prorated between the buyer and seller, the Bronsons are responsible for paying the taxes for the entire year. They can obtain a copy of their property tax bill for the year and determine the amount of taxes they paid for the first half of the year. This amount can be included in their itemized deductions on their tax return for Year 2.
It's important to note that the Bronsons may want to consult with a tax professional to ensure they are accurately reporting their deductions. Additionally, they may want to consider the potential tax implications of not prorating the real estate taxes with the buyer, as this decision could impact their overall tax liability for the year.
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INTRODUCTION: Portion-controlled cuts are ready-to-cook meats cut according to customer's specifications. Steaks and chops are ordered either by weight per steak or by thickness. Portion-controlled cuts require the least work for the cook of all meat cuts. They are also the most expensive per pound of all categories of cuts.Why are portion-controlled meats so widely used in food service, even though their per-pound cost is higher?Describe the difference between purchasing primal cuts and portion-controlled cuts.
Portion-controlled meats are widely used in food service because they offer convenience, consistency, and reduced waste. Although they have a higher per-pound cost, the benefits often outweigh the expense.
First, convenience is a significant factor. Portion-controlled cuts are ready-to-cook, saving time and labor for chefs and kitchen staff. This allows for faster preparation and service, which can enhance customer satisfaction and increase turnover rates in restaurants.
Second, consistency is crucial in food service. Portion-controlled cuts ensure that each customer receives a uniform size and weight of meat, contributing to consistent presentation and taste. This helps maintain a restaurant's reputation for quality and reliability.
Finally, reduced waste is an essential consideration. By ordering portion-controlled cuts, food service establishments can better manage inventory and minimize food waste, as the precise portions make it easier to track and use the product efficiently. This can lead to cost savings over time, even though the initial cost is higher.
In contrast, purchasing primal cuts requires more skill and labor to process in-house. Although primal cuts may have a lower per-pound cost, the additional time, effort, and potential inconsistency can offset the savings. Therefore, many food service establishments choose to use portion-controlled cuts for their efficiency, consistency, and waste reduction benefits.
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Define a Small Scale Enterprise as per ‘MSMED Act, 2006’.
Explanation:
the Government of India has in acted, small and medium enterprises development (MSMED) Act, 2006 in terms of which the definition of micro, small and medium enterprises is an enterprise where the investment in plant and machinery is more than rate 25 lakh but does not exceed rate.
If your company increases its market penetration, what is happening?
A The target market is growing.
В. More people in the target market are buying the company's product.
C. The market saturation of the target market has decreased.
D. Competitors who offer similar products are entering the market.
Answer: More people in the target market are buying the company's product.
Explanation:
Answer:
B.
More people in the target market are buying the company's product.
Explanation:
Charitable donations, entertainment expenses, and
financial goals are all examples of...
things to consider when creating a budget.
things that are considered needs.
activities that contribute to overspending.
activities that are necessary for a healthy lifestyle.
Answer: Things to consider when creating a budget.
Explanation: Trust me bro
Giving donations, entertainment costs, and financial goals are all examples of the things to consider when creating a budget. As donation and entertainment expenses can be the measures to control the budgeting.
How making budget is helpful?Budget keeps the person spending tightly accurate to the mark and like to help in saving of the money. It facilitates the person income and expenses equally and shows how much person can spend on the specific thing.
Budget cuts the extra expenses of the person and provide the measurement of spending.
Thus, option A is correct.
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What are two methods that you might use
to grow and develop your career?
Answer:
Some things you may need are staying focused a good speaking or and a good colloge are just a few thing you may need to grow nad expand your career and good people around you
Explanation:
to be effective in cultures that exhibit a greater power distance, managers often must behave auto cratocally
true/false
True
to be effective in cultures that exhibit a greater power distance, managers often must behave autocratically. This approach allows them to maintain the hierarchical structure and respect for authority that are common in such cultures.
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Identify the correct statement. Group of answer choices An increase in the price level in an economy will decrease the real GDP demanded along the aggregate demand curve. An increase in the price level in an economy will increase the real value of dollar-denominated assets. An increase in the price level in an economy will shift the aggregate demand curve rightward. An increase in the price level in an economy will shift the aggregate expenditure line upward. An increase in the price level in an economy will decrease the equilibrium level of output demanded.
Answer:
An increase in the price level in an economy will decrease the real GDP demanded along the aggregate demand curve.
Explanation:
In Economics, there are primarily two (2) factors which affect the availability and the price at which goods and services are sold or provided, these are demand and supply.
In order to understand both short-run economic fluctuations and how the economy move from short to long run, we need the aggregate supply and aggregate demand model.
Aggregate demand (AD) can be defined as the total quantity of output (final goods and services) that is demanded by consumers at all possible price levels in an economy at a particular time.
Generally, an increase in the price level in an economy will decrease the real GDP demanded along the aggregate demand curve.
Additionally, an economy's aggregate demand curve shifts rightward or leftward by more than changes in initial spending because of the multiplier effect. Also, an increase in stock prices that increases consumer wealth will most likely shift the aggregate demand curve to the right.
Lastly, a change in price level would not shift the aggregate demand curve (AD curve).
discuss the importance of using the appropriate leadership style to influence employee engagement and performance.
Situational leadership theory is a method that determines the appropriate leadership style for a given situation based on a number of factors.
Situational leaders adjust their leadership philosophies in reaction to the workforce's aptitude and level of dedication. Situational leadership is a flexible leadership style that attempts to maximize employee potential while meeting organizational objectives or deadlines. The leadership style used by each organization is essential since it affects both employee productivity and operational efficiency. The situational leadership theory states that when leaders' styles alter through time, people develop and sharpen their work skills. In other words, situational leaders adapt their style of leadership to suit the needs of their team and the organization. In order to effectively manage your staff, you should understand situational leadership theory.
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Top notch consultants ltd has a fixed cost is sh 15000 for it's products and a variable cost given by 140+0.04x shillings per unit, where x is the total number of units and the selling price of the product is given by 300-6x shillings per unit. Formulate the function of the total cost and total revenue.Find the break even point.
Answer:
F(x) = 15000 + (140 + 0.04x)
F(x) = 300 - 6x
15000 ÷ (300 - 6x - (140 + 0.04x))
Explanation:
Given that :
Fixed cost = 15000
Variable cost = 140+0.04x
Selling price = 300 - 6x
Number of units = x
Total cost :
Fixed cost + variable cost
15000 + (140 + 0.04x)
Total revenue :
300 - 6x
F(x) = 300 - 6x
Break even point :
Total cost = total revenue
Break even point (units) :
Fixed cost ÷ (selling price per unit - variable cost per unit)
15000 ÷ (300 - 6x - (140 + 0.04x))
What types of procedures in schools could benefit from TQM? If students are regularly late for classes, how can the school use TQM tools to help solve the problem?
Question 2 of 40
What does the 'P' in the acronym PEST stand for?
A. Price
B. Political
C. Promotion
O D. Positive
SUBN
Answer:
The answer would be B. Political.
Explanation:
PEST Analysis (Political, Economic, Social, and Technological) is a management method whereby an organization can assess major external factors that influence its operation in order to become more competitive in the market. As described by the acronym, those four areas are central to this model.
The 'P' in the acronym PEST stands for political. The correct option is B. Political, Economic, Social, and Technological analysis is known as PEST analysis. This kind of analysis is used to evaluate outside variables that might affect a company's profitability.
What is political in PEST analysis?The threats and weaknesses used in a SWOT analysis are found using a PESTEL analysis. Political factors include government leadership, change, and policies related to foreign trade, as well as internal political issues and trends, tax policy, and trends in regulation and deregulation.
A measurement tool called PEST Analysis is used to evaluate markets for a specific product or industry over a specific period of time. Political, Economic, Social, and Technological (PEST) factors Organizations can make better business decisions after these factors are analyzed.
Thus, the ideal selection is option B.
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Now that Amazon does collect sales tax in most states, what other loopholes has Amazon found to evade other taxes?
(In depth response)
Another area in which Amazon has found another tax loophole in order to evade taxes is:
They make use of foreign based companies to receive payments from customers in another country.What is a Tax Loophole?This refers to the legal clauses which the rich people and corporations exploit in order to evade paying tax or paying as much as other people.
One tax loophole which is being used by Amazon to evade tax is the use of foreign based companies to receive payments from customers in another country and bypass HMRC.
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What is the phenomenon of electromagnetic induction?
The phenomenon of electromagnetic induction refers to the generation of an electric current in a conductor when it is exposed to a changing magnetic field.
Electromagnetic induction occurs when there is relative motion between a conductor and a magnetic field or when there is a change in the magnetic field strength through a stationary conductor. According to Faraday's law of electromagnetic induction, the changing magnetic field induces an electromotive force (EMF) in the conductor, which results in the generation of an electric current. This process is fundamental to the operation of electric generators and transformers.
Electromagnetic induction plays a crucial role in various technological applications, including power generation, electrical motors, and wireless charging. It is a fundamental principle in the field of electromagnetism and has significant implications in our daily lives.
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sonja is a product manager for a line of consumer cosmetic products and is introducing a new product. she set the retail price at $35.50 with wholesale margins of 15% and retail margins of 40%. how much will sonja's company receive per unit under these terms?
Sonja's company receives $20.81 per unit with a retail margin of 40% and a wholesale margin of 15%
It is given that Sonja has set a retail margin of 40%, and a wholesale margin of 15%.
Retail Price = Wholesale price + Retail margin X Wholesale price
or, Retail Price = (1 + Retail margin) X Wholesale price
The retail price is given as $35.50.
Hence,
35.50 = (1 + 40/100) X Wholesale Price
Or, Wholesale Price = 35.50 X 100/140
or, wholesale price = $23.928
Similar to the above statements,
Wholesale price = Price charged by manufacturers + Wholesale margin X price charged by manufacturers
or, Wholesale price = (1 + Wholesale margin) X Price charged by manufacturers
Hence,
23.928 = (1 + 15/100) X Price charged by manufacturers
or, Price charged by manufacturers = 100 X 23.928/115
= $20.81
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definition of the term small business
Answer:
make me brainalist and keep smiling dudeExplanation:
Small business is defined as a privately owned corporation, partnership, or sole proprietorship that has fewer employees and less annual revenue than a corporation or regular-sized business.One problem with business-to-business e-procurement is that it _______.
A.
increases paperwork requirements
B.
increases transaction costs
C.
reduces purchasing efficiency
D.
increases the time between order and delivery
E.
can erode long-standing customer-supplier relationships
One problem with business-to-business e-procurement is that it can erode long-standing customer-supplier relationships. While B2B e-procurement offers many advantages, it also has some disadvantages.
One such problem is that it can disrupt long-term customer-supplier relationships. Indeed, e-procurement often involves the use of third-party vendors or web-based platforms, which can undermine the trust that has been built up over time between the customer and its supplier. E-procurement can also increase transaction costs because both the customer and the supplier must pay fees to third-party suppliers. All of these factors can lead to disruption of customer-supplier relationships, which can be detrimental to both the customer and the supplier.
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the following information relates to franklin freightways for its first year of operations (data in millions of dollars): pretax accounting income: $ 250 pretax accounting income included: overweight fines (not deductible for tax purposes) 6 depreciation expense 67 depreciation in the tax return using macrs: 105 the applicable tax rate is 25%. there are no other temporary or permanent differences. franklin's taxable income ($ in millions) is:
Franklin Freightways' taxable income is $151 million, it can be calculated using the information provided.
First, we need to calculate the tax depreciation using MACRS (Modified Accelerated Cost Recovery System), which is $105 million.
Next, we need to adjust the pretax accounting income by adding back the non-deductible overweight fines and deducting the tax depreciation. So,
Pretax accounting income = $250 million
+ Non-deductible overweight fines = $6 million
- Tax depreciation = $105 million
= $151 million
Now, we can calculate Franklin Freightways' taxable income using the applicable tax rate of 25%.
Taxable income = Pretax accounting income - Deductions + Non-taxable income
= $151 million - $0 (as there are no other temporary or permanent differences) + $0 (as there is no mention of any non-taxable income)
= $151 million
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What is an interpreter in change management?
The interpreter is ultimately in charge of making sure that what is said by one party is accurately relayed to the other.
What exactly does an interpreter do?In the case of sign language interpreters, they translate information between spoken and sign languages. Interpreters also translate information from one spoken language into another. People should be able to interact with the target language as naturally as if it were the source language, according to the interpreter.
What distinguishes an interpreter from a translator?While translators work with written material, interpreters mediate languages audibly. Translation professionals must possess strong reading comprehension, transfer, and target language producing abilities.
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You can obtain any
through a loan,
borrowed money, or cash on hand.
A. business
B. asset
C. liability
D. employee
Answer:
C
Explanation:
Hope it's right
Specialty Products Company has a high turnover rate among its employees, especially those
who are young parents. Solution to this problem
The company has to first investigate the reason why young parents are leaving the company. This is the first step towards resolving the issues of high turnover.
If it is because of the inability to care for their kids while at work, then the company can solve this problem by:
Turnover in human resources refers to the act of replacing one employee with a new employee. Termination, retirement, death, interagency transfers, and resignations are examples of separations between organizations and personnel.
Turnover in human resources refers to the act of replacing one employee with a new employee. Termination, retirement, death, interagency transfers, and resignations are examples of separations between organizations and personnel.
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Yvonne authorizes Warren to act as her agent and sell her vehicle. Yvonne tells Warren her vehicle has never been in an accident, and Warren, despite knowing Yvonne had been in an accident a year ago in the car, passes this information on to the buyer. Is Warren liable for the misrepresentation:__________
Answer:
no
Explanation:
because he does something that he don't know what will happen ..and do not research for someone who want to hers car
1. Someone once said that the love of money is the root of all evil. Do you agree or disagree with this statement? Why?
2. Would you ever take a job as a volunteer--knowing that you were helping other people, but you would not get paid for your services. Why or why not?
3. Do you currently have a checking account, savings account, or credit card? If not, at what age do you think it is appropriate to have these types of accounts?
4. In order to buy a new bike, a car, or pay for college, it often takes time to save up the money. What types of things are important to you to save up for?
5. If you had to create a budget for your family, what are 5 necessary items that would be included in that budget? (For example, house payment or rent, utilities, etc).
Answer:
1. money makes people unpredictable and unreliable.
2. yes I would. even without the pay, being a volunteer is a fulfilling job. And it gives you a sense of responsibility and leadership standards that'll set you aside from others in respectable needs I.e job interview, college application.
3. yes I do have a students account. its necessary to open an account for even the youngest of kids as its good to get ahead in college savings.
4. college, a car , an apartment.
5. food
electricity
gas
school
water
a journal shows in one place all the changes in a single account.
True
False
The statement, a journal shows in one place all the changes in a single account is true.
What is a journal entry?A journal entry is the act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company's debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit.A journal is a record of all transactions that are entered into a single account. It keeps track of the account balance by recording all transactions made in the account.In summary, a journal is a chronological record of all financial transactions made in a single account.
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i will be your bsf (10pts)
anyone in a company who influences the behavior of other employees is acting as a ___.
A. executive
B. supervisor
C. leader
D. manager
A P E X
Answer:
I think it's c. leader or d. manager but I really it's the d. manager
Answer:
b. leader
Explanation: