Q1. a) A is enjoying his summer holidays in Shimla. In his absence, a storm damages the front lawn in the house of A. B his next-door neighbor and friend calls the gardener and gets the lawn maintained. After coming back A promises to pay, in writing, Rs. 500 to B for the expenses incurred and time spent. Later on, A refuses to pay. Can B recover the amount from A? (7 Marks)
Answers
B can potentially recover the amount of Rs. 500 from A through legal action. By promising to pay in writing, A entered into a contract with B to reimburse him for the expenses and time spent on maintaining the damaged lawn.
A breach of contract occurs when one party fails to fulfill their obligations under the agreement. In this case, A's refusal to pay violates the terms of the contract and B may be entitled to seek damages in court. However, the success of B's legal action will depend on the specific details of the contract and any evidence that can be presented to support his claim.
A goes on summer holidays in Shimla, leaving his house unattended. A storm damages A's front lawn during his absence. B, A's next-door neighbor and friend, takes the initiative to call a gardener and gets the lawn maintained. A returns from his holidays and becomes aware of B's efforts to maintain his lawn. A writes a promise to pay Rs. 500 to B for the expenses incurred and time spent on the lawn maintenance. Later, A refuses to pay the promised amount to B. Since A made a written promise to pay B for the expenses and time spent on maintaining the front lawn, B has legal grounds to recover the amount from A. The written promise serves as evidence of A's commitment to reimburse B, and can be used in a court of law to hold A accountable for his refusal to pay the agreed-upon amount.
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Related Questions
a production manager is concerned about the low output levels of his employees. the articles that hehas read on job performance frequently mention four variables as being important to job performance:(1) skills required for the job, (2) rewards, (3) motivation, and (4) satisfaction. in several of the articles itwas also indicated that only if the rewards were (attractive) to the recipients did motivation, satisfaction,and job performance increase, not otherwise. given this situation:1. define the problem.2. create a diagram.3. develop at least six hypotheses.
Answers
The problem is the low output levels of the employees, which the production manager is concerned about. The manager wants to understand why the employees' job performance is not meeting expectations and identify potential factors that may be influencing their performance.
Diagram: The diagram could be a simple cause-and-effect diagram or fishbone diagram, with the low output levels as the main problem and the four variables (skills, rewards, motivation, and satisfaction) as the potential contributing factors. The diagram will help visualize the relationships and potential influences among these variables.
Hypotheses:
a. Hypothesis 1: If the skills required for the job are lacking or inadequate, job performance will be negatively affected.
b. Hypothesis 2: If the rewards provided to employees are not attractive or perceived as valuable, motivation, satisfaction, and job performance will decrease.
c. Hypothesis 3: If employees lack motivation or have low motivation levels, their job performance will be negatively impacted.
d. Hypothesis 4: If employees are not satisfied with their job or work environment, their motivation, and subsequently, job performance will decline.
e. Hypothesis 5: If the rewards provided to employees are attractive and aligned with their needs and expectations, motivation, satisfaction, and job performance will increase.
f. Hypothesis 6: If employees have a high level of job satisfaction, their motivation and job performance will be positively influenced.
These hypotheses provide potential explanations for the low output levels and can serve as a starting point for further investigation and analysis by the production manager.
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How do I quit my job as cashier already wrote resignation letter
Answers
at flourish and blotts Arthur weasley did what
Answers
Note that the above prompt is related to Harry Potter Lexicon (Chapter 4). It is also to be noted that Lucius Malfoy taunts Arthur Weasley for socializing with Muggles (Mr. and Mrs. Granger) at Gilderoy Lockhart's book signing at Flourish and Blotts, and Arthur lunges at Lucius.
What Occurred thereafter?Following the above events, the ruckus disturbs the bookshelves. An Encyclopedia of Toadstools strikes Lucius in the eye, while Arthur suffers a lip cut.
Molly and the assistant manager of Flourish and Blotts implore in vain for the guys to cease fighting. Hagrid finally separates them. In the midst of the confusion, Lucius sneaks Riddle's journal into Ginny's cauldron.
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alessa is the new hr manager at turner times. she meets with the company's leaders to discuss how she intends to support business objectives. alessa tells them that turner times has a performance management process that delivers reliable performance ratings, but it needs to be more strategic. which action would best make performance management more strategic?
Answers
Alessa can make performance management more strategic by aligning individual goals with the company's overall objectives, incorporating regular feedback and coaching, and using data to inform decision-making and drive improvement.
In order to guarantee that workers are working towards the same aims and objectives as the firm, individual goals should be in line with the latter. This will promote the accomplishment of the latter. By giving employees a clear knowledge of how their job contributes to the success of the firm, this alignment also helps to enhance employee engagement and motivation. For successful performance management, regular coaching and feedback must be included. Employees may better understand their strengths and areas for growth with frequent feedback, while coaching gives them the direction and support they need to advance their careers. This strategy also enables managers to spot potential performance-related concerns and take the necessary steps to rectify them.
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Select the correct answer.
The speed of a ship is given by , where d is the distance the ship travels in 3 hours. If the ship travels 48 miles in 3 hours, what is the speed of the ship?
A.
12 miles per hour
B.
16 miles per hour
C.
45 miles per hour
D.
51 miles per hour
Answers
The speed of the ship is B. 16 miles per hour
How to calculate the speedRecall that
Speed= Distance/Time
Given that the distance= 48 miles
Time= 3 hours
The speed would be 48/3= 16 miles per hour
Therefore, option B is correct.
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How to be a successful entrepreneur?
Answers
Answer:
Don’t take ‘no’ for an answer
Learn from the best
Stay hungry and ambitious
Never stand still; evolve with the times
Nurture long-term business relationships
Inspire those around you
Trust your gut instinct, not just your spreadsheet
Explanation:
It takes hard work and dedication and they are many free sources that is available today such as videos
What determines the efficiency of an organization?
a. organization
b. mission
c. action plan
d. objectives
Answers
Answer:
I think it is A but I am not completly sure please tell me what the correct awnser if i am wrong
Explanation:
any two importance of office resources
Answers
Two importance of office resources are greater output and promote productivity .
What are office resources ?All of the resources and amenities found in an office, including people, tools and supplies, furniture and equipment, cash, modes of transportation, and communication, are referred to as office resources. These resources are used to help the organization achieve its goals.
Two improtance of office resources are:Greater output is made possible because every business strives to produce as much as possible while using the fewest resources possible. Better resource utilization management can be used to accomplish such a feat.It helps to promote productivity: Office supplies aid in boosting office employees' productivity. Equipment such as furniture, machinery, and other items make work more comfortable and convenient, which improves worker productivity.Learn more about office resources here https://brainly.com/question/20436648
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You own a Cypriote bank that has €10 billion of deposits. Suppose you need to have 10% of deposits in cash, you have another 10% in excess reserves, another 20% on housing loans and 60% in Greek bonds. Show this on the following T-Account.
Answers
T-Account for a Cypriote Bank:
ASSETS:
- Cash: €1 billion
- Excess Reserves: €1 billion
- Housing Loans: €2 billion
- Greek Bonds: €6 billion
LIABILITIES:
- Deposits: €10 billion
On the asset side of the T-account, we allocate the bank's deposits based on the given percentages. 10% of the deposits, which is €1 billion, is held as cash to meet the reserve requirement. Another 10% of the deposits, also €1 billion, is kept as excess reserves. 20% of the deposits, amounting to €2 billion, is allocated to housing loans. Finally, 60% of the deposits, which is €6 billion, is invested in Greek bonds.
On the liabilities side, we have the total deposits amounting to €10 billion, which represents the bank's liabilities to its depositors.
Please note that this is a simplified representation and does not account for other assets, liabilities, and equity that a bank may have.
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The money left over from a consumer's income after paying for basic living necessities such as food, shelter, and clothing is called __
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The money left over from a consumer's income after paying for basic living necessities such as food, shelter, and clothing is called discretionary income. Discretionary income represents the remaining financial resources that an individual has available to spend on non-essential items and activities.
This income can be used for savings, investments, or to enhance one's overall quality of life through purchases and experiences.
It is essential to differentiate discretionary income from disposable income. Disposable income refers to the amount of money an individual has left after paying taxes, whereas discretionary income is what remains after accounting for necessary expenses.
Discretionary income is significant for both individuals and the economy as a whole. For individuals, it indicates their financial stability and ability to plan for the future, including saving for emergencies, investing, or enjoying leisure activities. For the economy, discretionary income serves as an indicator of consumer spending, which plays a vital role in driving economic growth
Economists and businesses pay close attention to discretionary income levels, as they help predict consumer behavior and identify potential trends in the marketplace. By understanding these trends, businesses can make informed decisions about their product and service offerings, marketing strategies, and expansion plans. Overall, discretionary income is an essential component of personal finance and economic analysis, providing insight into financial well-being and potential consumer spending patterns.
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esther, a manager at a customer service call center, reprimands her subordinates each time they are late to work. thus, esther is using
Answers
Esther, as the manager at a customer service call center, is using negative reinforcement when she reprimands her subordinates each time they are late to work.
What is meant negative reinforcement?
Negative reinforcement is a kind of disciplinary action.
Esther, as a manager at a customer service call center, is using disciplinary action as a form of management technique. Specifically, she is reprimanding her subordinates for being late to work.
Disciplinary action is a way of addressing and correcting employee behavior that does not meet the expectations or standards of the workplace. It is a common approach used by managers to enforce rules and policies, and to hold employees accountable for their actions or performance.
This approach aims to decrease the undesired behavior (tardiness) by applying an aversive stimulus (reprimand) when the behavior occurs.
However, it's important for managers to ensure that disciplinary action is applied consistently, fairly, and in compliance with company policies and applicable laws and regulations.
Effective communication, coaching, and performance feedback are also important aspects of managing employee behavior and performance.
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Everything else held constant, when financial frictions increase, the real cost of borrowing ________ so that planned investment spending ________ at any given inflation rate.
A) increases; falls
B) decreases; falls
C) decreases; rises
D) increases; rises
Answers
Everything else held constant, when financial frictions increase, the real cost of borrowing increases so that planned investment spending rises at any given inflation rate. The correct option is (D).
When financial frictions increase, it becomes more difficult for borrowers to obtain credit or loans, which leads to higher costs of borrowing.
As a result, the real cost of borrowing, which takes into account inflation, increases. This is because lenders may demand higher interest rates or impose stricter lending terms due to increased risks associated with financial frictions.
The increase in the real cost of borrowing can lead to a decrease in planned investment spending. This is because higher borrowing costs can reduce the profitability of investment projects and discourage businesses from borrowing to finance their investment plans.
As a result, planned investment spending may fall as a result of increased financial frictions.
Therefore, the correct answer is option D) increases; rises, as an increase in financial frictions typically leads to higher real borrowing costs and a rise in planned investment spending due to decreased borrowing capacity and increased borrowing costs.
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what approach to strategic hrm deploys bundles of internally consistent hr practices to improve employee ability, motivation, and opportunities across the entire organization?
Answers
The "High performance work system" is the approach deployed by Human resources manager to improve employee ability, motivation, and opportunities.
Basically, the Human resources manager belongs to the department which is responsible for motivating and ensuring the well-being of employees so that productivity can be achieved at the workplace.
The High performance work system is the type of system that creates an environment which allows the employees to be greatly involved in activities which with greater responsibility.
The HRM deploys the HPWS because its allows the employees to feel and take more responsibility for improving the organization's products, services and processes.
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Natalie wants to deposit $2,000 into a savings account at a 1.25 percent interest rate. The interest is compounded every six months. How much interest will she earn over two years?
Answers
Answer:
Natalie will earn $50.31 in interest over two years assuming that the interest is compounded every 6 months.
Explanation:
Natalie will earn $50.31 in interest over two years, assuming that the interest is compounded every six months.
Here's how to calculate it:
- First, we need to figure out how many times the interest will be compounded over two years. Since the interest is compounded every six months, there will be four compounding periods per year, or a total of eight compounding periods over two years.
- Next, we can use the formula A = P(1 + r/n)^(nt) to calculate the amount of money Natalie will have in her account after two years, where:
- A is the amount of money in the account after two years
- P is the principal (the initial amount of money deposited)
- r is the annual interest rate (1.25%)
- n is the number of times the interest is compounded per year (4, since it's compounded every six months)
- t is the number of years (2)
Plugging in these values, we get:
A = 2000(1 + 0.0125/4)^(4*2)
= 2000(1.00625)^8
= 2100.31
- Finally, we can subtract the initial principal from the final amount to find the amount of interest earned:
Interest = A - P
= 2100.31 - 2000
= 100.31
Rounding to the nearest cent, Natalie will earn $50.31 in interest over two years.
Answer:
$4050.16
Explanation:
using the formula 2000(1+.0125/2)^2(2) to represent the 6 month period (A=P(1+r/n)^nt) you get 4050.15625 which rouned to the nearest tenth is 4050.16 to represent the change
Subject: Accounting
Please answerr
On 1 May Sally owed William $400. On 21 May she purchased goods, list price $1440, subject to a trade discount of 25%. She returned one third of these goods on 24 May.How much did Sally owe William on 31 May? Include working.
A $630 B $720 C $1030 D$1120
Answers
Answer:
D) $1120
Explanation:
The goods Sally purchase were $1440, and with the 25% discount, she would have paid $1080, because 25% of $1440 is $360. Since she returned 1/3, she would have only spent $720, because $1080/3 is also $360. $720+$400 from the beginning would be $1120
Answer:
l believe the answer is a
Type the correct answer in the box. Spell all words correctly. The demand curve has what kind of slope?
Answers
Answer:
Usually slopes downwards
Explanation:
in a negative association
Calculate the takt time for a system where the total time per shift is 480 minutes, there is one shift, and workers are given two 15− minute breaks and 55 minutes for lunch. Daily demand is 302 units. (Round the final answer to 2 decimal places.) Takt time minutes per unit
Answers
To calculate the takt time, we need to subtract the non-working time (breaks and lunch) from the total time available and divide it by the daily demand.
Total time available per shift: 480 minutes
Breaks: 2 breaks x 15 minutes = 30 minutes
Lunch: 55 minutes
Working time per shift: 480 minutes - 30 minutes (breaks) - 55 minutes (lunch) = 395 minutes
Takt time = Working time per shift / Daily demand
Takt time = 395 minutes / 302 units ≈ 1.31 minutes per unit
Therefore, the takt time is approximately 1.31 minutes per unit.
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Your product is Top Tier Performance Equine Feed
What is your expected final price for this new product per bag? Show how you arrived at this price (e.g., break-even analysis and any other calculation you deem supportive of your conclusion).
Project your costs and profits for getting this product to market. (Provide as much detail as you can at this point).
Using a spreadsheet project your expected revenue for one year – 1st year by month; 2nd and 3rd years by quarter (show volume and dollars expected). Label rows and columns so that everything is clear and makes logical sense.
Expert Answer
Please like my answer as it would motivate me to provide more quality answers to all the students and I would be able to help all of you in your study. What are your major 2-3 pricing objectives for this new product?
Answers
The expected final price for the Top Tier Performance Equine Feed product needs to be determined based on various factors, including costs, break-even analysis, and pricing objectives.
To determine the expected final price for the Top Tier Performance Equine Feed product, a comprehensive analysis of costs and break-even point is required. The costs involved in manufacturing, packaging, distribution, marketing, and other expenses should be calculated. Additionally, market research and competitor analysis can help determine the pricing range for similar products in the market. By considering these factors, a target price can be established that covers the costs and provides a reasonable profit margin.
Detailed cost and profit projections should be prepared to assess the financial viability of the product. This includes estimating the production costs, variable costs, fixed costs, and expected sales volume. Break-even analysis helps identify the point at which the total revenue covers all costs, providing insights into the minimum sales required to achieve profitability. By understanding the cost structure and profit potential, an appropriate pricing strategy can be developed.
Using a spreadsheet, revenue projections can be made for the first year on a monthly basis and for the second and third years on a quarterly basis. This involves estimating the expected sales volume in units and multiplying it by the projected selling price per unit. Labeling the rows and columns in the spreadsheet clearly will help organize the data and provide a logical representation of the revenue forecast.
The pricing objectives for the Top Tier Performance Equine Feed product should align with the overall business goals. These objectives may include achieving profitability by setting a price that covers costs and provides a desired profit margin, establishing competitiveness by considering market prices and positioning the product effectively, and delivering customer value by offering a high-quality product at a fair price. The pricing objectives should be formulated with a deep understanding of the target market, customer preferences, and competitive landscape.
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How do any of these life decision problems
Answers
Answer:
baseially you are putting in a person is affecting your life. you come up with a solution. write a postive way to solve it then right a negavitve way to solve it. then write when you are going to solve your problem. then the steps that are needed.
In the context of defining the objectives and benefits of a management support system (MSS), which of the following is an intangible benefit? (Ch. 12) Increasing profits Increasing revenues Improving customer service Improving the organization's stockholder's equity Improving the organization's line of credit
Answers
In the context of defining the objectives and benefits of a management support system (MSS), improving the organization's stockholder's equity is an intangible benefit. Intangible benefits are those that cannot be easily quantified or measured in monetary terms. While increasing profits and revenues are tangible benefits that directly contribute to the financial performance of the organization, improving customer service and the organization's line of credit can also be considered tangible benefits as they can have a direct impact on customer satisfaction and financial stability.
On the other hand, improving the organization's stockholder's equity refers to enhancing the value and perception of the company in the eyes of its shareholders. This benefit is intangible because it is not directly reflected in the financial statements or easily quantifiable. It encompasses factors such as increased investor confidence, improved reputation, and long-term sustainability, which are vital for attracting and retaining shareholder.
Although intangible benefits may not have immediate financial implications, they are important for the overall success and growth of an organization. They contribute to building a strong brand, fostering stakeholder relationships, and positioning the company for long-term success in the market.
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How can monitoring your bank account transactions help you stick to your budget?
Answers
A monitoring of the transactions of bank accounts helps an individual in sticking to their budget by identification of the patterns in which they are spending to their respective amounts.
The bank transactions are extremely helpful in recording of the monetary exchanges in such a way that the chronological records are maintained. As these bank transactions contain the credit and debit records, they help an individual in analyzing the available amounts in their account and how they spend it on their regular as well as extraordinary payments. They include incomes and expenses for better record-keeping.
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Carlos is the VP Sales for a consumer electronics company and has recently been reviewing the performance feedback and employee satisfaction reviews. He noted that several sales representatives mentioned that they dissatisfied with the amount of commission they receive. Carlos wants to retain the best sales representatives rather than risk losing them to a competitor so he's trying to determine whether or not he should raise the percentage of commission representatives might receive on their sales. What management function best describes Carlos' activity?
Answers
Answer:
Compensation.
Explanation:
According to the information in the question above, it can be said that Carlos is exercising the function of compensation management. His functions are related to the compensation that employees receive for carrying out their work. Compensation managers are also responsible for maintaining the rules of benefits in compliance with management and legality, in addition to developing strategies that assist in retaining and hiring employees and all types of data and information on compensation in the organization.
I
just need req 4 cromly and req 4 barnwell.
July 31 and January 31. Barnwell Industries acquired $90,000 of the bonds as a long-term investment. The fiscal years of both firms end December 31. (EV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of
Answers
The bond price for Cromly Industries is $30,936, and the bond price for Barnwell Industries is $64,673.
Here are the calculations of Bond Prices:
Cromly Industries: PV of $1 at 7% for 7 years = 0.508
PV of $1 at 7% for 7 years with a final payment = 0.456
EV of $1 at 7% for 7 years = 0.635EV of $1 at 7% for 7 years with a final payment = 0.676
Using the formula for calculating the bond price as:
Bond Price = Present value of interest payments + Present value of Principal,
we can calculate the bond price of Cromly industries as:
Bond Price = $60,000 x 0.508 + $1,000 x 0.456
= $30,480 + $456
= $30,936
Barnwell Industries:
PV of $1 at 7% for 5 years = 0.712PV of $1 at 7%
for 5 years with a final payment = 0.593EV of $1 at 7%
for 5 years = 0.864EV of $1 at 7%
for 5 years with a final payment = 0.822
Using the formula for calculating the bond price as:
Bond Price = Present value of interest payments + Present value of Principal,
we can calculate the bond price of Cromly industries as:
Bond Price = $90,000 x 0.712 + $1000 x 0.593
= $64,080 + $593
= $64,673
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How does APR make borrowing money a more transparent process?
Answers
The interest rate on a credit card is known as the APR. It is the annual percentage rate of interest that you will be charged if you carry a balance, and it frequently changes from card to card.
What is APR stand for?The Accreditation in Public Relations (APR) accreditation distinguishes you from your colleagues and positions you as a leader and mentor in the cutthroat public relations industry by vouching for your ambition, professionalism, and ethical standards.
Is the accuracy of loan comparisons improved by APR?The cost of borrowing money is determined by the interest rate, but because the APR also accounts for additional fees related to getting a loan, notably a mortgage, it provides a more accurate picture of overall borrowing costs.
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a firm had after-tax income last year of $3.0 million. its depreciation expenses were $0.2 million, and its total cash flow was $3.0 million. what happened to net working capital during the year?
Answers
The company's total cash flow for the year was $3 Million as opposed to $3.2 Million. It implies a cash outflow brought on by an increase in working capital requirements.
The difference between a company's current assets and current liabilities is its net working capital. Working capital management is crucial for a company's daily operations, and growing working capital needs have a detrimental impact on a company's cash flow.
Net Income = $3.0 Million
Depreciation = $0.2 Million
Total Cash Flow = $3.0 Million
Based solely on these two figures, we can estimate the company's operating cash flow as follows:
Operating Cash Flow = Net income + Depreciation
OCF = $3 + $0.2 = $3.2
Therefore, Operating Cash Flow = $3.2 Million
Because depreciation is a non-cash item, it has been added back to the income statement.
However, rather than $3.2 million, the company's overall cash flow for the year was $3.0 million. It suggests a cash outflow brought on by a rise in the need for working capital.
Net Working Capital Growth = 3.2 - 3.0 = 0.2
Gain in Net Working Capital = $0.2 Million
Notably, the cash flow also takes changes in working capital into account in addition to adjusting for non-cash and non-recurring expenses. The working capital requirements rise and the cash flows decrease. As an illustration, a rise in receivables or inventories reduces cash flow and raises the need for working capital.
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Inflation is low but the unemployment rate is the highest seen in several years. Economists report signs that show in six months the economy is likely to improve. The economy is likely in
contraction
expansion
a peak
a trough
Answers
Inflation is low but the unemployment rate is the highest seen in several years. Economists report signs that show in six months the economy is likely to improve. The economy is likely in "a trough".
"A trough" is a low point in the business cycle where the economy starts to recover from a period of contraction. Low inflation and a high unemployment rate are indicators of a weak economy, and the prediction of improvement in six months suggests that the economy is currently at or near a trough.
Inflation is the rate of increase in prices over a given period of time. Inflation is typically a broad measure, such as the overall increase in prices or the increase in the cost of living in a country.
The unemployment rate is the percentage of people in the labour force who are unemployed. Consequently, measuring the unemployment rate requires identifying who is in the labor force. The labor force includes people who are either employed or unemployed.
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Explain how most businesses are both debtors and creditors.
Answers
Answer:
The reason why most companies are both debtors and creditors is that customers can owe services to companies and they have economic commitments to pay.
Government intervention in a modern economy is useful because
A. The government discouraged competition by determining prices, wages, and products.
B. governments are more able to meet some needs and wants of modern society.
C. Customers have the power to decide what gets produced.
D. based on a free market, but allowing some government intervention.
Answers
Because governments are better able to address various requirements and wants of contemporary society, government participation in an economy is beneficial.
Why does the government step into the modern economy?Correcting market failure issues related to public goods, external costs and benefits, and imperfect competition is one of the functions of the government. It is always possible for government intervention to lower deadweight losses by bringing markets closer to efficient solutions.
What are the benefits of government economic intervention?According to proponents of government economic intervention, the following advantages: safeguarding the environment, public health, and safety. increasing the safety of consumers' product selections. preventing businesses from exploitation of unwitting consumers.
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The class will be divided into five groups. With the teacher's guide, each group should suggest a business that they want to put up. Each group should then justify their choice of business. Each group will discuss among the members the environment that should be studied in terms of the location they decided to choose. Based on the environmental analysis, the group members should identify all the factor that need to be studied in the specific environment/location.
Answers
Each group will suggest a business idea and justify their choice based on their interests, market demand, and potential profitability. They will then discuss the specific location for their business and conduct an environmental analysis to identify factors that need to be studied.
In the first paragraph, each group can briefly mention the type of business they want to put up, such as a restaurant, tech startup, clothing boutique, fitness center, or any other business idea that interests them. They should provide a concise justification for their choice, highlighting factors like market demand, personal passion, unique selling proposition, or potential profitability.
In the second paragraph, the group members will discuss the specific location for their business and conduct an environmental analysis. They need to identify and examine various factors that can influence the success of their business in that particular location. This analysis can include factors such as local competition, target market demographics, economic conditions, regulatory environment, infrastructure, availability of resources, cultural considerations, and any other relevant factors. By studying these environmental factors, the group can gain insights into the opportunities, challenges, and potential risks associated with their chosen location.
Overall, the aim is for each group to select a business idea that aligns with their interests and has potential in the market. They should then analyze the specific location's environmental factors to make informed decisions and develop strategies that maximize their chances of success. This exercise helps students understand the importance of market research, environmental analysis, and strategic planning in business development.
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Use this completely fictitious S-D table to answer the questions: Demand for apples Price per pound $0.50 7,500 6,500 $1 5,500 $1.50 4,500 $2 3,500 $2.50 2,500 $3 1,500 $3.50 Supply of apples 1,000 1,
Answers
The equilibrium price is $2 per pound, the equilibrium quantity is 1,900 pounds, and the total revenue at the equilibrium is $3,800.
To find the equilibrium price and quantity, we need to identify the point where the quantity demanded equals the quantity supplied. In other words, it's where the demand and supply curves intersect.
From the given S-D table, we can determine the equilibrium price and quantity as follows:
Price per pound: $2 (where quantity demanded equals quantity supplied)
Quantity: 1,900 pounds (the corresponding quantity at the equilibrium price)
To calculate the total revenue at the equilibrium, we multiply the equilibrium price by the equilibrium quantity:
Total Revenue = Price per pound * Quantity
Total Revenue = $2 * 1,900 pounds
Total Revenue = $3,800
Therefore, at the equilibrium, the price is $2 per pound, the quantity is 1,900 pounds, and the total revenue is $3,800.
The complete question must be:
Use this completely fictitious S-D table to answer the questions: Demand for apples Price per pound $0.50 7,500 6,500 $1 5,500 $1.50 4,500 $2 3,500 $2.50 2,500 $3 1,500 $3.50 Supply of apples 1,000 1,300 1,600 1,900 2,200 2,500 2,800 a) Find the equilibrium price and quantity and calculate total revenue at the equilibrium.
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