The inverse, or negative, relationship between price and quantity demanded is known as the law of ______. Multiple choice question. diminishing returns supply demand increasing opportunity costs
Answers
The inverse, or negative, relationship between price and quantity demanded is known as the law of demand.
What is demand?It should be noted that demand simply means the amount of goods and services that are purchased at a particular price.
In this case, when the price is lower, people will buy more and when it's higher, they'll buy less.
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Related Questions
Which of the following is most likely reason that a regulated product may go
to market?
Answers
Answer:
B) it has passed testing and certification standards
Explanation: hope this helps!
Answer:
B IS CORRECT :))))
Explanation:
Discuss the business tactic described in the text that the bissell brothers used to become business owners.
Answers
The business tactic described in the text that the Bissell brothers used to become business owners is, they are the bosses, which means that they make their own decisions.
Bissell Brothers was founded in 2013 by two brothers, Peter and Noah Bissell which is based in Portland. These two Bissell brothers started their own small business, and they ran their own company, took their own decisions, and did not depend on partners, higher authorities or investors for any ideas.
Hence, they are the bosses of their business. Only when their business grows big, they have managers to help them in their business.
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Burgess Company incurred product costs of $50,000 during the period when no units were sold. No product costs will be reported on the company's income statement for the period. (true/false)
Answers
The statement "Burgess Company incurred product costs of $50,000 during the period when no units were sold. No product costs will be reported on the company's income statement for the period" is true.
Burgess Company will not report any product costs on the company's income statement for the period when no units were sold. Product costs are those costs associated with the production of goods or services that are intended for sale.
These costs are only reported on the income statement when the related products are sold. Until the products are sold, the costs are considered inventory and are recorded on the balance sheet.
In this case, Burgess Company incurred product costs of $50,000 during a period when no units were sold. Since no units were sold, the costs will not be reported on the income statement for the period. Instead, the $50,000 will be included in inventory on the balance sheet until the products are sold.
It is important to note that while the product costs are not reported on the income statement, they still affect the company's financial position. The costs are recorded on the balance sheet, which provides information on the company's assets and liabilities.
In summary, Burgess Company will not report any product costs on the income statement for a period when no units were sold. The costs will be recorded as inventory on the balance sheet until the products are sold, but they do not affect the company's income statement until the related products are sold.
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Tara was shopping for a new pair of shoes for work. The salesperson was very helpful and friendly, bringing Tara some styles she hadn't thought to try on but that she ended up really liking. Noticing Tara's University of Wisconsin tee-shirt, the salesperson said that she was a student there. Tara ended up buying three pairs of shoes rather than the one pair she had planned on. Tara's experience shows the effect of ________ on consumer behavior.
Answers
Answer:
salespeople
Explanation:
In the context, Tara wishes to buy new shoes for her work. She went to shoe shop and try out different shoes. The salesperson is helping her a lot in finding out her new pair of shoes and is also showing Tara some of the latest designs that are available in the shop.
The salesperson is polite and helpful to her. Tara found out that the salesperson also belonged to the same university where Tara studied. And she ended up in buying three pair of shoes instead of one. This shows the effect of the salesperson on the consumer behavior of Tara.
1. What is the revised net operating income if unit sales increase by 12%? 2. What is the revised net operating income if the selling price decreases by $1.30 per unit and the number of units sold increases by 19%? 3. What is the revised net operating income if the selling price increases by $1.30 per unit, fixed expenses increase by $6,000, and the number of units sold decreases by 7%? 4. What is the revised net operating income if the selling price per unit increases by 20%, variable expenses increase by 20 cents per unit, and the number of units sold decreases by 13%?
Answers
Answer:
the information about the company's income statement is missing, so I looked for a similar question (see attached image):
current contribution margin per unit = $3
current sales volume = 44,000 units
fixed expenses = $46,000
1. What is the revised net operating income if unit sales increase by 12%?
[(44,000 x 1.12) x $3] - $46,000 = $101,8402. What is the revised net operating income if the selling price decreases by $1.30 per unit and the number of units sold increases by 19%?
[(44,000 x 1.19) x $1.70] - $46,000 = $43,012
3. What is the revised net operating income if the selling price increases by $1.30 per unit, fixed expenses increase by $6,000, and the number of units sold decreases by 7%?
[(44,000 x 0.93) x $4.30] - $52,000 = $123,9564. What is the revised net operating income if the selling price per unit increases by 20%, variable expenses increase by 20 cents per unit, and the number of units sold decreases by 13%?
[(44,000 x 0.87) x $4.60] - $46,000 = $130,088
given the s-box below, given the s-box product of 9d, what is the row/column pair of inputs? (some hex conversion may be required.)
Answers
The row/column pair of inputs for the given S-box product of 9D is (3, 14). We can do it in the following manner.
To find the row/column pair of inputs for the given S-box product of 9D, you will need to convert the hexadecimal value into binary format.
9D in hexadecimal is equal to 10011101 in binary. To determine the row and column values, split the binary value into two parts:
- The first and last bits represent the row value (first bit: 1, last bit: 1).
- The remaining bits in the middle represent the column value (001110).
Now, convert these binary values back to their respective decimal values:
- Row: 11 in binary is 3 in decimal.
- Column: 001110 in binary is 14 in decimal.
So, the row/column pair of inputs for the given S-box product of 9D is (3, 14).
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In which market would a producer sell bicycles to consumers?
Answers
In the markets for goods and services, a producer would sell his bike for purchase by customers.
What is the market for goods and services?Consumers buy consumables on the products and services market, and firms sell their commodities there. The market encompasses physical stores, the Internet, and any other location where consumers can exchange products and services.
The trading of finished goods takes place here. Businesses receive payment from customers in exchange for goods. The consumer gives money to the business in a flow. In contrast to this, enterprises can buy the materials they need on the factor market to make an item.
The rule of supply and demand governs how much is produced and at what price in the market for products and services.
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Cain Company reports net cash provided by operating activities of $35,000. It also reports the following information under “Adjustments to reconcile net income to net cash provided by operating activities” on its statement of cash flows (using the indirect method).
Answers
It can be seen from the solutions given that Cain's net income is $24,000.
Here is the solution:Net income = Net cash provided by operating activities - Adjustments
= $35,000 - $6,000 - $10,000 + $4,000 + $7,000 + $4,000
= $24,000
Therefore, Cain's net income is $24,000.
Here is a breakdown of the adjustments:
To determine cash flow from operations, it is necessary to include the gain on equipment sales in the net income as it is a non-cash entry.
A rise in accounts receivable implies that customers are prolonging payment of their invoices, resulting in decreased cash flow from the company's activities.
The depreciation expense is classified as a non-cash expense, hence it must be included in the calculation of cash from operations by adding it back to the net income.
A decrease in inventory indicates that the company is experiencing faster turnover of its inventory, leading to increased cash flow generated by its operations.
A rise in prepaid expenses denotes that the company is channeling more funds towards prepaid expenditures like insurance and rent, implying a reduced cash inflow from its operational activities.
A decline in the amount of wages that the company owes indicates that it is not promptly compensating its workforce. Consequently, this implies that the company's operational cash flow is reduced.
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Word processing software
Video recording device like a camera or a phone
Throughout this course, you’ve been busy helping people in all kinds of careers solve issues or create projects in their line of work. Now it’s time to focus on you! In this activity, you will take the results from your O*Net Interest Profiler and the knowledge you’ve gained in the past units and use both to decide what might be a great career for you! You will put all this information together and create a Career Action Plan.
Part 1: Laying the Pathway
Save this word document as ‘Laying the Pathway.’
Part 2: Compiling the Paperwork
Great! You’ve laid out your pathway. Now, we need to gather all the papers you’ll need to apply for jobs.
Step 1: Resume
Now for the next part of your Career Action plan, the first thing you are going to do is create a resume. Create your resume document from a template. You might find one in your word processing program or by searching the internet for a free resume template. Then, make sure your resume contains the following components:
Is your resume filled in? Is it nice and neat, with everything spelled correctly? Great! Remember to save your Resume to include in your Career Action Plan.
Step 2: Cover Letter
Now, we will work on your cover letter. Remember, a cover letter is a document that explains in your own words and more detail why you are the perfect candidate for the job you are applying for. This is how your cover letter should break down:
Proofread your cover letter for errors. If you are satisfied with it, save it under ‘Cover Letter’ to include in your Career Action Plan.
Step 3: Job Application
With your resume and cover letter, you will usually need to fill out a job application that is specific to the company you are applying to. Much of the information will be a repeat of what is in your resume, but job applications make it easier for a human resources manager to know exactly where to look for specific information.
Use a search engine to find a free mock job application form. Take the information you put in your resume and fill out the job application. Save this as ‘Job Application.’
Part 3: It’s Time to Sell
You may not have chosen Marketing as your career pathway, but we all must sell a bit when it comes to finding a job. We are selling ourselves! In an interview, it is important to help the recruiter or employer to understand what you are all about and how you will be a benefit to the company. Look back over the tips you’ve learned so that you can put your best foot forward.
One thing that we must think about in interviews is proper business etiquette, or behavior. Remember when you were little, and your parents were constantly reminding you to ‘mind your manners’? Well, this idea of manners and polite behavior is especially important when you get a job. The way you act will reflect on the company that you work for, so if you are polite, hardworking, and courteous, this will benefit your employer. It will also make you much more likely to get along with your coworkers! Some rules of business etiquette include:
Being on time (show respect for others’ schedules)
Dressing appropriately (be a good visual representative of your company)
Speaking politely (use proper titles and avoid interrupting others or using bad language)
Avoiding gossip (don’t repeat things about coworkers)
Showing interest in others (make eye contact, don’t play with your phone while in a conversation)
Write emails respectfully (don’t be sarcastic, type in all caps, or fail to sign an email)
In this part of your Career Action Plan, you will video yourself during a mock interview. Have a partner read you the questions below (or if that is not possible, read them out loud to yourself). Then answer, looking at the camera as if it is the interviewer. Use appropriate business etiquette in your interview so that your prospective employer will want you to represent their company. Remember to speak clearly and smile!
Interview Questions
Can you tell me a little bit about yourself?
Why are you applying for this position?
What have you learned in your classes to prepare you for this position?
How would you be a good fit for this position?
What are your strengths and weaknesses?
Remember to answer all five questions in your interview. Save your video to upload with the rest of your plan. You can name it ‘Interview.’
You did it! Congratulations! You have completed your Career Action Plan.
Submit the following documents:
DO NOT DO VIDEO NOT NEEDED I WILL DO THAT
Answers
Multimedia tools are used in digital storytelling to bring stories to life. Digital stories can be used to convey an argument, reflect on a personal experience, teach a subject, or retell a historical event.
How can I advance in my profession?Use these 12 work success guidelines to begin experiencing career success.
a. Choose Your Job Carefully.
b. Always be learning.
c. Recognize the demands of your position.
d. Work as a team.
e. Assume Responsibility for All Your Actions.
A lifestyle career is what?Both people are capable of completing the duties necessary for their jobs, but their schedules will differ. "Work as a Lifestyle" gives businesses and employees the power to find balance, select the schedule that works best, and more.
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Eliza Conner owns a small clothing boutique. Eliza uses her personal checking account for both business and personal needs. How would you convince Eliza that she should open a separate
bank account for her business?
Answers
Answer:
1. It will cause them confusion throughout the tax calculating process.
2. Using a single account will make it difficult to keep payroll records.
3. Keep track of your personal expenses and earnings.
Explanation:
1. It is preferable to establish a separate account to separate the firm's actual income and expenses.
2. Payroll expenses are indistinguishable from personal expenses.
3. This allows you to cross-check bank and hand-made documents for income and expenses. Because cash transactions may not be recorded in the bank account, the entrepreneur should preserve receipts in order to compute revenue and expenses, which may result in erroneous financial statements.
At Frank's company, the strength of the organizational structure is that the results are based on
the effectiveness of the managers, but its main weakness is costs can be increased due to a
decrease in efficiency. This is an example of which structure?
Osimple
O functional
O divisional
O matrix
Answers
Answer:
divisional
Explanation:
-A simple structure s a structure in which there is little specialization and there is a central authority that controls everything and has the power.
-Functional structure is a structure in which a company is divided in groups according to specialized activities. Because of this specialization, companies with this structure can increase productivity but the communication is rigid and the cooperation between departments is difficult.
-Divisional structure is a structure in which there are different divisions and each one concentrates on a specific product or service and has all the functions and resources for that. This structure can create inefficiencies because the specialized functions are separated but the results of one division don't affect the other ones.
-Matrix structure is a structure in which employees report to more than one manager and it is used in companies that have different lines to have more flexibility and increase productivity.
According to this information and the statement, the answer is that this is an example of divisional stucture because in this structure each division has its own resources and specialized functions and because of that the results are based on the effectiveness of the managers but as each division has its own specialized functions, this creates inefficiencies.
Four people are applying for a job. This chart shows the company’s favorite characteristic of each of these job applicants:
Answers
You open a new bank account at Eastside Savings. You see FDIC stickers around the bank, and the teller specifically mentions that Eastside
Savings is "FDIC Insured". A few months later, you hear on the radio that Eastside Savings is struggling to stay in business. Your savings balance
Is $500. What would happen to that money if Eastside Savings failed?
A.You could lose $250 since FDIC Insurance only covers 50% of the money you have deposited.
B.You would lose all of your money.
C.You would receive $250,000 since FDIC Insurance provides each account at the bank with $250,000 regardless of how much they
have deposited
D.You would receive all the money you have deposited at Eastside Savings since FDIC insurance covers accounts up to $250,000.
Answers
Answer:
The correct option is D. You would receive all the money you have deposited at Eastside Savings since FDIC insurance covers accounts up to $250,000.
Explanation:
Based on the information given what would happen to that money in a situation where Eastside Savings failed is that such individual would receive all the money he/she have deposited at Eastside Savings reason been that FDIC which is fully known as FEDERAL DEPOSIT INSURANCE CORPORATE insurance covers accounts up to the amount of $250,000 and Secondly Eastside Savings is "FDIC Insured".
50+50=? hep plz plz plz plz
Answers
Answer:
10000
Explanation:
por que los dinosaurios son rozas
100
50 + 50 is 100 ;)
A company holiday party is an example of a(n)
GER
Answers
Answer:
ispirational for your company party poll
Explanation:
Successful entrepreneurs have mindsets that typically possess which three
characteristics? (Choose Three)
Responsible
Adaptable
Nervous
Argumentative
Tenacious
5
Answers
Successful entrepreneurs have mindsets that typically possess three characteristics and that is being responsible, adaptable and tenacious. Thus, the correct options are the 1). Responsible, 2). Adaptable and 3). Tenacious.
What are the characteristics of a successful entrepreneur?An entrepreneur refers to an individual who set up a new business, bear most of the risks and enjoy most of the rewards. The process of establishing a business is known as entrepreneurship.
For being a successful entrepreneur, an individual must possess significant characteristics such as passion, open-minded, creativity, risk-taking, approachable, professionalism, knowledge, skills etc.
Basically, an entrepreneur must be capable to handle all the responsibilities in well efficient way.
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Why is the liability section of the balance sheet of primary importance to bankers?.
Answers
The liability section is important to bankers as it helps them assess a company's debt repayment capacity, credit risk, collateral availability, compliance with debt covenants, and overall financial health, allowing them to make informed lending decisions and manage risk effectively.
How is the liability section important to bankers?The liability section of the balance sheet is of primary importance to bankers because it provides crucial information about a company's financial obligations and its ability to meet those obligations. Bankers need to assess the risk associated with lending money to a company, and the liability section helps them evaluate the company's creditworthiness and financial health.
Here are a few reasons why the liability section is significant to bankers:
Debt repayment capacity: The liability section reveals the company's outstanding debts, such as loans, bonds, or lines of credit. Bankers want to gauge whether the company has the means to repay these debts in a timely manner. By assessing the company's current and long-term liabilities, bankers can evaluate its ability to generate sufficient cash flows to meet its obligations.Credit risk assessment: Bankers need to evaluate the creditworthiness of a company before extending credit or granting loans. The liability section helps them understand the company's leverage and its ability to manage its debt load. High levels of debt or excessive liabilities relative to the company's assets could indicate financial strain and increase the risk of default. Collateral evaluation: When providing loans, bankers often require collateral as security. The liability section helps bankers assess the availability and quality of assets that can be used as collateral against the loan. By examining the liabilities, bankers can evaluate if the company has sufficient unencumbered assets to secure the loan effectively.Debt covenants and restrictions: Many loan agreements include debt covenants that impose certain financial and operational requirements on the borrower. Bankers analyze the liability section to ensure that the company is in compliance with these covenants. Any breach of debt covenants may result in default, allowing the lender to take appropriate actions to protect its interests.Overall financial health: The liability section, along with other components of the balance sheet, provides a comprehensive view of the company's financial health. Bankers analyze this information to assess the company's stability, liquidity, and solvency. A healthy liability structure with manageable debt levels and strong repayment capacity indicates a lower risk profile and enhances the company's creditworthiness.In summary, the liability section of the balance sheet is crucial to bankers as it helps them evaluate the company's debt obligations, credit risk, collateral availability, compliance with debt covenants, and overall financial health. By understanding these factors, bankers can make informed decisions about extending credit, granting loans, and managing their exposure to risk.Learn more about: liability
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two random variables X and Y are independently distributed if all of the following conditions hold, with the exception of
a E(Y) = E[E(Y|X)]
b if the conditional distribution of Y given Xequals the marginal distribution of Y.
c knowing the value of one of the variables provides no information about the other.
d Pr (Y = y|X = x) = Pr (Y = y).
Answers
When we say that two random variables X and Y are independently distributed. In other words, knowing the value of one variable provides no information about the other. Option C
There are four conditions that must hold for two variables to be considered independent, with the exception of one of them. The first condition states that the expected value of Y should be equal to the expected value of the conditional expectation of Y given X (E(Y) = E[E(Y|X)]). This condition means that the average value of Y should be the same, regardless of whether or not we know the value of X.
The second condition states that if we know the value of X, the distribution of Y should be the same as its marginal distribution (the distribution of Y without considering the value of X). This means that the distribution of Y does not depend on the value of X.
The third condition states that knowing the value of one variable provides no information about the other. This is the key condition for independence.
The fourth condition states that the probability of Y taking a certain value y given that X has a certain value x (Pr(Y=y|X=x)) is the same as the probability of Y taking that value y (Pr(Y=y)). This condition means that the value of X does not affect the probability of Y taking a certain value.
In summary, two random variables X and Y are independently distributed if knowing the value of one variable provides no information about the other. This is the key condition for independence, and the other conditions support it. Option C is correct.
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why might digital media be more effective than television ads?
Answers
The digital media is more effective than television ads because the platform fosters communication between the user and company and also ensures immediate feedback.
Let understand that medium of Digital media includes social media, software, digital video, digital images, web pages, websites etc
The advert on digital media such as social media platforms is more effective over television ads because digital media fosters communication between the brand and consumer.
The advert on digital media also facilitates immediate feedback regarding the products advertised.
Therefore, the digital media is more effective than television ads because the platform fosters communication and ensures immediate feedback.
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Your project team has expressed their communal position that they would prefer not to have a review meeting at the end of the project. As project manager, how should you respond to show the value of this meeting?
Answers
How you respond should show the value of this meeting is: To tell the team that lessons learnt from the project process can be used in other projects.
A project manager is a person whose sole responsibility is to:
Plan the projectDirect the projectManage the projectMonitor the projectExecute the project etcSince the team said they would not have a review meeting at the end of the completion of the project the best decision as a project manager is to tell the team member that lessons learnt from the project process can be used in other projects since the project is a special or unique project.
Inconclusion the project manager should tell the team that lessons learnt from the project process can be used in other projects.
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My response to the expressed communal position of the project team's preference of not holding project review meetings is to stress its importance with regard to lessons for future projects.
The lessons that come from review meetings help the team to correct mistakes, realign processes, and improve performance.
Thus, since review meetings help to re-enforce the team's learning, I will reassure the team that the meeting would not take more time than necessary. I will also ensure that each team member participate actively.
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Compare the perspectives of the narrator and her first employers regarding wages.
Answers
According to the narrator, wages are very important when someone applies for a job. The narrator points out that it is important for people to consider wages when applying for a job. According to the narrator, immigrant workers are very important because they can be a way out of poverty and oppression.
Wages are rights in a job or labor that can be accepted and expressed in the form of money as a form of compensation to workers/laborers which can be stated and paid according to a form of work agreement and allowances for workers/laborers through an agreement that has been made with the company or regulations. legislation.
There are several wage setting systems in the world of work. In general, the system is regulated based on the following points.
Wage System Based on Time of WorkResults Based Pay SystemWholesale Pay SystemYou can learn more about Wages here brainly.com/question/13847060
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for which of the following situations would there be personal liability coverage under the homeowner policy?i. the named insured accidentally injures her husband with a hammer.ii. the named insured breaks his wife's valuable vase while practicing his golf swing.
Answers
i. The named insured accidentally injures her husband with a hammer.
ii. The named insured breaks his wife's valuable vase while practicing his golf swing.
i)In this situation, there is a possibility of personal liability coverage under the homeowner policy. Homeowner policies typically include coverage for bodily injury to others, which would potentially apply if the named insured accidentally injures her husband with a hammer. However, it's important to review the specific terms and conditions of the homeowner policy to determine the extent of coverage and any applicable exclusions or limitations.
ii)This situation would not typically be covered under personal liability coverage in a homeowner policy. Homeowner policies usually exclude intentional acts or intentional damage caused by the insured. Breaking the wife's valuable vase while practicing a golf swing would likely be considered intentional damage and therefore may not be covered. It's always advisable to review the policy wording or consult with the insurance provider to understand the specific coverage and exclusions in a homeowner policy.
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What would a casualty insurance policy cover?
Answers
Answer:
auto insurance policy
Answer: A customer injury caused by employee negligence
Explain why a business needs to keep variable costs low and high variable costs impact the business.
Answers
Answer:
if they have a high variable cost, the business will make no money and would probably start to loose money, to the point where they go out of business. So they have to keep the variable cost low, manufacture their products with a low price, and sell their products high to make money and keep the business going.
Scott, Mark, and Joe want to buy into a restaurant franchise. Joe is an accountant. Mark has previous restaurant experience as a server and manager. Scott is an attorney. In order to open this franchise, they must commit to opening 3-5 stores and are required to have $10 million in liquid assets (Cash is a highly liquid asset followed by the banking accounts, checkable account, short-term promissory notes, treasury bills and other government bonds. ) They currently do not have the required liquid assets. Which business organization will be the best for this situation and how will they solve their money problems?
Answers
Given their diverse backgrounds and lack of sufficient liquid assets, a limited liability partnership (LLP) would be the most suitable business organization for Scott, Mark, and Joe.
This type of partnership allows for individual liability protection while still allowing for shared profits and management responsibilities. To address their money problem, the group can explore various options. One option would be to seek out investors who are willing to contribute the necessary funds in exchange for a percentage of ownership and profits.
Another option would be to secure a loan from a financial institution or private lender. In order to increase their chances of approval, they can develop a comprehensive business plan that outlines their strategies for success and projected financial performance.
Additionally, Scott, Mark, and Joe could also consider alternative means of financing such as crowdfunding or seeking out grants or subsidies from government agencies or non-profit organizations. It may also be beneficial for them to seek guidance and advice from a financial advisor or business consultant to help them make informed decisions and develop a strong financial plan for their franchise venture.
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Regarding performance, ________ sources of information include complaints or issues raised by employees, existing performance metrics or reports, financial reports, and quality reports, while ________ sources of information include VOC (Voice of the Customer) tools.
Answers
An internal sources is one that include complaints or issues raised by employees while an external sources is one that includes VOC (Voice of the Customer) tools.
What is an internal sources?This refers to information that comes from outgoing mails, memos, notices, circulars, bulletins and manuals.
What is an external sources?This refers to information from source other than the Internal Sources such as information from licensed or subscription-based websites.
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The following picture is best described as
a(n)...
A. Organism
B. Community
C. Population
D. Ecosystem
Answers
Answer:
organism
Explanation:
a gree fish is an organism
1.
Consider the market for personal computers. Suppose that
demand is stable: The demand curve doesn't change. Predict
the effects of the following changes on the on the equilibrium
price of computers. Illustrate your answers with a supply and
demand diagram. (Hint: Needs 2 Graphs; one for "a" and one for
"b")
a.
b.
The cost of memory chips decreases.
The government imposes a $100 tax on personal
computers
Answers
Note that a decrease in the cost of memory chips will shift the supply curve to the right, leading to an increase in the quantity supplied and a decrease in the price of computers.
On the other hand, the imposition of a $100 tax will shift the supply curve to the left, reducing the quantity supplied and increasing the price of computers. As a result, the price of computers will decrease in the first case and increase in the second case.
What is the rationale for the above response?In economics, the equilibrium price is the price at which the quantity of a good or service supplied is equal to the quantity demanded by consumers.
When the cost of memory chips decreases, there will be an increase in the supply of personal computers, as it becomes cheaper for manufacturers to produce them.
This shift in supply will cause the price of personal computers to decrease, reaching a new equilibrium price at which the quantity supplied equals the quantity demanded.
On the other hand, if the government levies a $100 tax on personal computers, this will increase the price for consumers, causing a decrease in demand.
The shift in demand will cause the price to increase, reaching a new equilibrium price at which the quantity supplied equals the quantity demanded.
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15-22: Qualitative versus Quantitative. Determine whether the following variables are qualitative or quantitative, and explain why. 15. The eye color of students in a class 16. The responses of customers on a satisfaction survey that used a scale from 0= terrible to 5 = fantastic 17. Home prices in a small town 18. Daily snowfall (in inches) during January in Syracuse, New York
Answers
Qualitative data refers to the information that is not numerical, like colors or textures, or descriptive data. It is data about qualities. Qualitative data is typically gathered using methods like observation, interviews, or surveys. It cannot be represented by numbers.
The following variables are qualitative or quantitative:
15. Qualitative: The eye color of students in a class is qualitative because it provides information that cannot be measured in quantity.
16. Quantitative: The responses of customers on a satisfaction survey that used a scale from 0= terrible to 5 = fantastic is quantitative because it provides numerical or quantitative data.
17. Quantitative: Home prices in a small town are quantitative because the prices of homes can be measured in terms of dollars.
18. Quantitative: Daily snowfall (in inches) during January in Syracuse, New York is quantitative because it provides numerical data that can be measured in inches. Quantitative data refers to numerical data. Quantitative data is data about quantities. It is usually gathered through surveys or other statistical methods. It is often expressed in numerical terms.
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QUESTION 2 of 10: Which of the following would be indirect competition for a candy store?
a) Walmart, which sells candy
b) A hard candies boutique shop
c) A candy superstore
d) None of the above
Answers
Answer:
A, Walmart that sells candy
Explanation:
Walmart does not specalize in candy, but sells, making it indirectly a competitor.
The indirect competition for a candy store among the following is Walmart, which sells candy. Thus the correct option is A.
What is competition in business?The type of race or contest between two organizations that offered similar products with similar rates and quality to their customers or have common target customers is referred to as business competitors.
The business competitors are both direct and indirect. Direct competitors are those who directly compete in the same market whereas indirect competitors are those who are not present in a similar market but tehir offerings are sometimes found common.
In the given Option, Walmart is referred to as indirect competition as it sells candy whereas direct competition is considered as shops which are having expertise In Candy with variety and taste.
Therefore, option A is appropriate.
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