in a free market economy, the market, not the , determines prices. the interactions of and producers determine the price in the market.
Answers
In a free market economy, the market, not the government or any central authority, determines prices. The interactions of buyers and sellers, or consumers and producers, play a crucial role in establishing prices in the market.
In this market system, buyers and sellers engage in voluntary exchanges based on their individual preferences and assessments of value. The principle of supply and demand drives these interactions. Buyers, as consumers, express their demand for goods and services, while sellers, as producers, offer their supply. The equilibrium price, also known as the market-clearing price, is determined by the point where the quantity demanded by consumers equals the quantity supplied by producers.
The market mechanism ensures that prices adjust based on the forces of supply and demand. If demand for a product increases relative to its supply, the price tends to rise, signaling producers to increase production. On the other hand, if supply exceeds demand, the price tends to fall, prompting producers to decrease production.
This dynamic process of interactions between buyers and sellers leads to the establishment of prices that reflect the relative scarcity, availability, and value of goods and services in the market.
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Related Questions
______ Is a market in which a large number of suppliers compete with each other to satisfy the needs and wants of a large numbers of consumers at a competitive price.???
Answers
Answer : Monopolistic competition
Answer:
Monopolistic Competition
Explanation:
In a monopolistic competitive market, there are large numbers of sellers who do not sell identical products instead they sell differential products. They compete with each other at a competitive price. The products could be differentiated in many ways including quality, style, location and even brand name. Since they compete at a competitive price, if there is a substantial rise in the price of any of the products, the buyers could quickly shift from one product to another. The most crucial factor behind product differentiation is because of geographical factors. Under a monopolistic competitive market, the sellers do not have any influence over customer loyalty and limited control over the price.
All of the following describe characteristics of organizational change EXCEPT
O a. an organization may resist change.
O b. an organization may promote change.
O c. change is inevitable.
O d. resistance to change should be eliminated.
o e. resistance to change is inevitable.
Answers
All of the following describe characteristics of organizational change EXCEPT d. resistance to change should be eliminated.
What is an organization?An organization is a group of people who cooperate, such as a firm, neighborhood association, charity, or union. The term "organization" can be used to describe a person, a group, a company, or the process of creating or developing anything.
An organization is a formal gathering of people, such as a business, charity, political party, or club. The majority of these specialty schools are run by nonprofit institutions. ... an International Labor Organization report. Synonyms: organization, firm, party, or body Additional words for organization
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pricing is one of the basic functions of a. research and development. b. management information systems. c. finance/accounting. d. production/operations. e. marketing.
Answers
Pricing is one of the basic functions of Marketing. The correct answer is option e.
What is pricing?Pricing refers to the process of establishing a value for a product or service and then capturing that value by charging customers for it. Pricing may be used as a tactical tool to attract consumers, compensate distributors, or outperform the competition, among other things.Pricing is critical in both the short and long term. In the short term, it affects cash flow, profit, and market share, as well as the company's ability to respond to changes in the market. In the long run, it has an impact on product positioning, brand image, and the company's perceived value proposition.
What is marketing?Marketing is the process of creating, communicating, and delivering value to customers in a way that satisfies their needs and wants. Marketing seeks to comprehend the needs and wants of customers and to create a product or service that meets those needs in a superior way. Marketing then seeks to communicate this value proposition to customers and deliver it to them in a way that is convenient and cost-effective.
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suppose the economy is in an inflationary gap where real gdp is $250 above its potential. furthermore, assume that researchers have estimated the the marginal propensity to save to be 0.2. how much must the government decrease spending to fully correct for this inflationary gap?
Answers
$50 must the government decrease spending to fully correct for this inflationary gap.
Given:
Final change in aggregate expenditures =−$250; MP2 =0.2.Find the expenditure multiplier. Multiplier =1/MPS=1/(0.2)=5.Total impact from the initial decrease in aggregate expenditures on real GDP = Initial change in aggregate expenditures x expenditure multiplier. This implies that −$250=A×5 or A=−$50.Therefore, the government must decrease spending by exactly $50 to decrease real GDP by $250 which would fully correct for the inflationary gap.
What does inflationary gap mean?The difference between the actual gross domestic product (GDP) at the current level and the GDP that would exist if an economy had full employment is known as the inflationary gap.
What are the deflationary and inflationary gaps?Excess aggregate demand, also known as the inflationary gap, is the amount of demand that exceeds what is necessary to keep the economy's full employment equilibrium. Deficient demand, also known as a deflationary gap, occurs when total demand is lower than total supply.
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As of December 31, Year 2, Moss Company had total cash of $195,000, notes payable of $90,500, and common stock of $84,500. During Year 3, Moss earned $42,000 of cash revenue, paid $24,000 for cash expenses, and paid a $3,000 cash dividend to the stockholders.
Determine the amount of retained earnings as of December 31, Year 2.
Answers
Answer:
$20,000
Explanation:
Calculation for the amount of retained earnings as of December 31, Year 2.
Using this formula
Retained earnings=Total cash -Notes payable-common stock
Where,
Total cash= $195,000
Notes payable= $90,500
Common stock= $84,500
Let plug in the formula
Retained earnings = $195,000 − $90,500 − $84,500
Retained earnings= $20,000
Therefore the amount of retained earnings as of December 31, Year 2 will be $20,000
the abc candy company requires workers to perform packaging of 1-pound boxes at a standing workstation. what is the best height for this type of workstation?
Answers
The ABC candy company requires workers to perform packaging of 1-pound boxes at a standing workstation. The best height for this type of workstation is 34-37 inches: slightly below elbow.
A workstation is a location where an employee performs everyday work-related tasks. In an office, for example, this could comprise a desk, writing area, computer, and document storage area. The workstation's goal is to give the user with room to do their normal work activities. It enables a person to use an organised area to improve the efficiency of their job responsibilities.
A workstation may have specialised equipment and tools needed by an employee to accomplish their job obligations. These tools and equipment should be organised within the workstation such that they are easily accessible to the employee without causing undue physical strain.
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Can someone fill that blank please and thank you this is music
Answers
Music is a powerful force that enriches our lives, connects us with others, and allows us to tap into the deepest parts of our being. It is a gift that should be cherished and celebrated for its ability to inspire, heal, and unite humanity.
Music is a universal language that transcends cultural boundaries and speaks to the depths of our souls. It has the power to evoke emotions, inspire movements, and bring people together.
From the rhythmic beats of drums to the melodious tunes of violins, music has the ability to transport us to different worlds, stir our imagination, and ignite our passions.
In its essence, music is an art form that allows individuals to express their unique perspectives, experiences, and emotions.
It serves as a medium for artists to communicate their deepest thoughts and feelings, inviting listeners to embark on a journey of self-discovery and reflection.
Whether it's the catchy hooks of pop music, the intricate harmonies of classical compositions, or the raw energy of rock and roll, each genre offers a distinctive experience that resonates with different individuals.
Moreover, music has a profound impact on our well-being. It can uplift our spirits, soothe our hearts, and provide solace during challenging times.
The melodies and lyrics have the ability to heal wounds, provide comfort, and create moments of joy and nostalgia.
In conclusion, music is a powerful force that enriches our lives, connects us with others, and allows us to tap into the deepest parts of our being.
It is a gift that should be cherished and celebrated for its ability to inspire, heal, and unite humanity.
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Cast Away Electronics paid a sum of $25,000 to an official of a foreign government to ensure that the company obtained exclusive preferential treatment for the plant it is building. The $25,000 can be classified as:____________
Answers
The payment by Cast Away Electronics to an official of a foreign government can be classified as a bribe.
Why is it a bribe?A bribe is a payment made by an entity to another entity in order to gain an unfair advantage or favor.
Cast Away Electronics wanted to gain an unfair advantage in the treatment of a plant and so paid a government official. This is therefore a bribe.
In conclusion, this is a bribe.
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Please help
As part of the controlling function of management, a sales department's
manager measures each salesperson's performance for the month and compares it with monthly goals for sales. The manager sees that one salesperson has fallen short of his target. What should the manager do next?
A. Punish the salesperson.
B. Fire the salesperson.
C. Research the issue.
D. Reward the salesperson.
Answers
Answer: It’s research the issues
Explanation:
The other answer is wrong
The manager notices that one of his salespeople has fallen short of his goal, he should research the issue. Option C is correct.
What is the work of sales department's manager?A Sales Manager, sometimes known as a Sales Department Manager, is in charge of directing daily activities in the sales department. Sales managers are often in charge of hiring and firing people, identifying the need for and offering training, coaching sales reps, and creating sales territory.
Their responsibilities include hiring and training sales people, communicating information regarding sales targets from higher management to department workers, and creating leads to distribute among Sales Representatives.
As part of management's controlling responsibility, a sales department manager and If the manager sees that any of his salesmen has fallen short of his target, he should look into it.
Therefore, option C is correct.
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________ involves creating a video, e-mail, mobile message, advertisement, or other marketing event that is so infectious that customers will seek it out or pass it along to their friends
Answers
The means that involves creating a video, email, mobile message, advertisement, or another marketing event that is so infectious that customers will seek it out or pass it along to their friends is Viral Marketing.
What do you mean by marketing?Marketing refers to the activities undertaken by a company for promoting the buying or selling of a product.
Viral marketing refers to spreading information about any product or service from person to person by word of mouth or sharing via the internet or email.
Viral marketing will increase a company's reach and customer base.
Therefore, viral marketing is the correct choice.
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A checklist screening model does NOT consider:
Answers
A checklist screening model does not consider whether one criterion should be prioritized above another.
Give a brief account on project management.The practice of arranging a team's work to fulfill all project goals within the specified time and financial constraints is known as project management. This information is typically included in-depth in the project documentation created at the beginning of the development phase. The primary constraints are those of scope, time, and budget. The second challenge is to use resources as effectively as possible to carry out defined goals.
The objective of project management is to provide a final product that satisfies the client's objectives. Project management frequently aims to restructure or alter the client's brief in order to make it more likely to achieve the client's objectives. The client's objectives should inform every decision the other parties involved in the project make after they are made clear.
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none of these strategies suggest transferring your medical debt onto a credit card or taking out a short-term loan to cover the costs. why do you suppose that’s the case?
Answers
Because the interest rate in both case is higher than your medical debt's interest rate.
What is interest rate?An interest rate informs you of how much borrowing will cost you and how much saving will pay off.
Therefore, the interest rate is the amount you pay for borrowing money and is expressed as a percentage of the total loan amount if you are a borrower. For a loan of a particular size, the higher the percentage, the more you must repay.
If you save money, you can find out how much will be deposited into your account as a percentage of your savings by looking at the savings rate. For a given size deposit, your account will receive more money if the savings rate is higher.
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In two to three sentences, answer the following:
What information you can obtain from a stock quote?
Answers
Answer:
The information that we can get from stock quote is about bidding price, details of previous bidding, etc.
Explanation:
A stock quote can be defined as the last price of stock of exchange. It is the price on which the traders and the buyers consented in their last trade or exchange.
The details that a stock quote provides is the price of last bid, volume of trade, bid price, volume of trade. The buyers and traders can access this information either on their phones, newspapers, news media, online portals etc. The stock quote is shown in decimals.
why do cellphone services providing firms often charge higher prices to pre paid than those on contract
Answers
Answer: Prepaid cost more because it has more perks than contract, it offers more to the customer's either in data or calls
Explanation:
Prepaid phone services are services that which requires you to pay an upfront for the plans you'll be using in either calling,browsing or texting
While contract has you to choose from monthly plans
Prepaid cost more because it has more perks than contract, it offers more to the customer's either in data or calls
Sholve Corp. currently offers annual dividends of $2.97, is expected to offer $2.64 per share in dividends over the next year, and $4.22 per share in dividends the year after that. At the end of the second year, the stock is expected to sell for $50.37 per share. If your required rate of return is 12%, how much are you willing to pay for the stock today? Round to two decimal places (Ex. $0.00). (Hint: are dividends growing constantly?)
Answers
The price you are willing to pay for the Sholve Corp.' stock today is $40.82.
It is given that: The annual dividend = $2.97, The dividend per share over the next year = $2.64, The dividend per share the year after next = $4.22, The stock expected to sell after 2 years = $50.37, and The required rate of return = 12%.
To calculate the price you are willing to pay for the stock today, we will use the dividend discount model.
Dividend discount model is as follows:
P = D₁ / (1 + r)¹ + D₂ / (1 + r)² + P₂ / (1 + r)²
Here, D₁ = The dividend per share over the next year = $2.64. D₂ = The dividend per share the year after next = $4.22, P₂ = The stock expected to sell after 2 years = $50.37, r = required rate of return = 12%
Now, putting all the values in the formula, we get;
P = 2.64 / (1 + 0.12)¹ + 4.22 / (1 + 0.12)² + 50.37 / (1 + 0.12)²P = 2.3571 + 3.2235 + 35.2426P = 40.82
Therefore, the price you are willing to pay for the stock today is $40.82 (rounded to two decimal places). Note: The dividends are not growing constantly.
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Create your own supply and demand curves, and then assume that either supply or demand changes, but not both Describe the direction and change in either supply or demand that must have occurred to produce a decrease in equilibrium price and a decrease in equilibrium quantity. Your answer need not show the graph,just type your description.
Answers
In this case, the supply curve remains constant while the demand curve shifts leftward. As a result, the equilibrium price and quantity will both decline.
To produce a decrease in equilibrium price and a decrease in equilibrium quantity, either a decrease in demand or an increase in supply must occur.
Assuming that the supply curve remains fixed while the demand curve shifts to the left, both the equilibrium price and quantity will decline. This is due to the fact that demand influences price and quantity, and as demand decreases, the price and quantity will follow suit.
In general, as the quantity demanded of a product decreases, the price will also decrease. On the other hand, as the quantity supplied increases, the price will decrease, according to the law of supply and demand.
Supply and demand curves may be employed to estimate how market equilibrium responds to changes in supply or demand. In the case of a shift in demand, the equilibrium point is pushed either up or down the supply curve, depending on whether demand increases or decreases.
The opposite occurs in the case of a supply shift; the equilibrium point moves along the demand curve. In this case, the supply curve remains constant while the demand curve shifts leftward. As a result, the equilibrium price and quantity will both decline.
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Why are files naming conversation essential
Answers
Without everyone using the same system, it would be impossible to know locate folders or files. Where would you go to set up margins on a letter? Which actions should be done throughout the mail merge process?
I Hope I Helped
Your mutual fund was valued at $237,500. It has lost 6% per year for the last 3 years. What is its value today?
Answers
Answer:
$197,263.7
Explanation:
The current value can be found by use of the compound interest formula. Since the asset has been losing value at 6 % per year,
the interest rate will be -6%
The formula for compound interest is FV = PV × (1+r)^n
in this case
FV= current value
PV= $237,500
r= -6% or -0.06%
n= 3 years
Fv= $237, 500 x ( 1 + (-0.06)^3
Fv=$237,500 x (0.94)^3
Fv= $237,500 x 0.830584
Fv= $197,263.7
The current value =$197,263.7
(i) Why is the marginal rate of return for education investment subject to 'diminishing returns'? (5 marks) (ii) Explain the rationale for identifying this diminishing marginal rate of return curve as the demand for education curve'.
Answers
(i) The marginal rate of return for education investment is subject to diminishing returns because of the following reasons: After a certain point, the increase in education investment brings only a marginal or incremental return.
This can be attributed to the fact that education investment is a type of human capital investment. When individuals continue to add education investment, they will ultimately reach the point of maximum productivity, which means that they will earn no further benefits from additional education investment.In addition, at higher levels of education, the cost of education will increase due to factors such as opportunity costs, course fees, and loss of earnings. Hence, diminishing marginal returns to education investment is natural due to the nature of human capital investment.(ii) The diminishing marginal rate of return curve is also known as the demand for education curve. The rationale for identifying the diminishing marginal rate of return curve as the demand for education curve is that the marginal rate of return is a measure of the additional output generated by an additional unit of input.The demand for education curve indicates the quantity of education investment demanded at each level of education investment price, given the individual's preferences, the return on investment, and the cost of education. At lower levels of education investment, the marginal rate of return is higher, and the demand for education is greater. However, as education investment continues, the marginal rate of return diminishes, and the demand for education decreases. The demand for education curve is downward-sloping due to the diminishing marginal rate of return.
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which of the following commodities is a product of the primary or extractive industry
A. Cars
B. Gold
C. Hair Processing
D . Houses
Answers
Tom is a junk remover who occasionally finds rare antiques to sell. He uses an online auction site to sell each antique at the highest possible price customers are willing to pay. Tom is engaging in _____, which leads to _____ consumer surplus.
Answers
Tom is a junk remover who occasionally finds rare antiques to sell. He uses an online auction site to sell each antique at the highest possible price customers are willing to pay. Tom is engaging in perfect price discrimination, which leads to zero consumer surplus.
Price discrimination is a selling method that fees customers distinct charges for the same service or product based on what the seller thinks they could get the consumer to agree to.
fee discrimination is a microeconomic pricing approach where equal or in large part comparable goods or services are sold at distinctive expenses via the equal provider in distinct markets. organizations gain from rate discrimination due to the fact it can entice purchasers to purchase large quantities of their merchandise or it can inspire otherwise uninterested client organizations to buy products or services. price discrimination in a monopoly is a practice of charging exceptional charges for an equal product. Monopolies normally have more control over providers than normal sellers, because of this, they could considerably affect the suppliers' promoting prices.
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Which of the following are automatically withheld from paychecks?
Answers
The average U.S. worker is MOST likely to hold about _____ jobs between the ages of 18 and 25. Please choose the correct answer from the following choices, and then select the submit answer button. three two seven five
Answers
Select the correct answer.
George, the market analyst of his company, will be calculating the company's sales forecast for the next month (May). He has decided to use the moving averages method of sales forecasting to complete his task. The sales for the last four months are $30,000 (April). $35,000 (March), $25,000 (February), and $30,000 (January). If George uses the formula to calculate moving averages, what sales forecast figure will he arrive at?
a.25000
b.30000
c.20000
d.35000
Answers
Answer:
b.30000
Explanation:
The moving average follows the trend of data to forecast the next value.
the formula applicable in moving average is = (n1 + n2 + n3 + ...) / n
For George, the moving average will be
=$30,000 + $35,000 +$25,000 + $30,000/4
=$120,000/4
=$30,000
Which industry is Amazon involved in ?
Answers
Answer:
Cloud computing e-commerce artificial intelligence consumer electronics digital distribution self-driving cars
Explanation:
Answer:
Cloud computing e-commerce
Explanation:
it is used for artificial intelligence or the use of robots
There are a multitude of ways in which Artificial Intelligence (AI) can benefit managers and organizations. One of these ways is by enhancing an organization’s control functions. Specifically, AI can be used to reduce errors and defects, increase productivity, and enhance supply chain management. This activity is important because managers who understand how to properly implement AI toward these ends will be more effective in their roles.
The goal of this activity is to test your understanding of the three AI activities related to internal business control.
Read the statements regarding AI. Then, select the AI activity related to internal business control that the statement best represents.
1. AI helps managers to analyze processes, detect potential problems, and find solutions before major issues arise.
(Click to select) Reducing errors and defects - Increasing productivity - Enhancing supply chain management
2. Managers can make quicker and more precise decisions by using AI to automate routine decision processes.
(Click to select) Reducing errors and defects - Increasing productivity -Enhancing supply chain management
3. AI can greatly increase the efficiency with which products and components are sourced, shipped, and stored.
(Click to select) Reducing errors and defects - Increasing productivity - Enhancing supply chain management
4. Applying AI in this way can improve manufacturing efficiency and prevent mishaps.
(Click to select) Reducing errors and defects - Increasing productivity -Enhancing supply chain management
5. AI has the advantage of being able to grasp data patterns that are beyond human understanding.
(Click to select) Reducing errors and defects - Increasing productivity - Enhancing supply chain management
6. Companies can use AI to provide more accurate information about production and delivery times.
(Click to select) Reducing errors and defects - Increasing productivity - Enhancing supply chain management
Answers
The AI activity related to internal business control that best represents statement 1 is reducing errors and defects.
One way in which AI can enhance an organization's control functions is by reducing errors and defects. By using AI to analyze processes, detect potential problems, and find solutions before major issues arise, managers can prevent errors and defects from occurring in the first place. For example, a manufacturing company can use AI to monitor the production process and identify any defects in real-time, allowing them to make adjustments before the products are completed. The AI activity related to internal business control that best represents statement 3 is enhancing supply chain management. AI can greatly enhance an organization's supply chain management by increasing the efficiency with which products and components are sourced, shipped, and stored. For example, a company can use AI to optimize its inventory management system, ensuring that it always has the right amount of inventory on hand. AI can also be used to track shipments and predict delivery times, allowing managers to make more informed decisions about their supply chain. By enhancing supply chain management, organizations can reduce costs, increase efficiency, and improve customer satisfaction.
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What are the differences between term-life and whole-life plans?
Answers
Answer:
whole life adds a cash value component that you can tap during your lifetime
Explanation:
10)
How might a mission statement help Donna with her new
business?
Answers
A mission statement can help Donna with her new business by providing clarity and direction for her venture. It serves as a guiding statement that outlines the purpose, values, and goals of the business.
It helps Donna align her decisions, actions, and strategies with the overall mission, facilitating focus and consistency in her business operations. A mission statement is a concise statement that articulates the purpose and core values of a business. It outlines what the business aims to achieve and how it intends to operate. For Donna, having a mission statement for her new business can provide several benefits.
Firstly, it helps Donna define the purpose and direction of her business. It clarifies the reason for starting the business and what it aims to accomplish, providing a sense of focus and clarity.
Secondly, a mission statement helps Donna communicate her business's values and principles to stakeholders, including employees, customers, and investors. It sets the foundation for building a strong company culture and aligning everyone's efforts toward a common goal.
Lastly, a mission statement can serve as a guide for decision-making and strategy development. When faced with choices or challenges, Donna can refer to her mission statement to ensure that her actions align with the overall purpose and values of her business.
A mission statement plays a crucial role in helping Donna with her new business by providing clarity, guiding decision-making, and aligning stakeholders toward a common vision.
In conclusion, a mission statement can significantly benefit Donna in her new business. It provides clarity and direction, communicates values to stakeholders, and guides decision-making and strategy development. By establishing a mission statement, Donna can effectively define her business's purpose and goals, foster a strong company culture, and make informed decisions that align with her business's overall mission. This helps create a solid foundation for success and growth in her new venture.
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who ever anwser the fastest get 55pts
Answers
fI answered
Explanation:
Fastest
Which step is the most important step in the decision making process?.
Answers
Answer:
The most important step of the decision-making process is: Assessing the possible uncertainties in the future course of action. It is a must for any of the firms to assess or evaluate the possible risks or the uncertainties associated with the firm operation and functioning.