Answer:
As the coronavirus pandemic enters its third year, more Americans view strengthening the U.S. economy as a top policy priority than say the same about dealing with COVID-19.
This marks a shift from last year, when the economy and the coronavirus both topped the public’s policy agenda.
At a time when Americans rate several issues as lower priorities than they did a year ago, the decline in the share citing the pandemic has been particularly steep: 60% now view dealing with the coronavirus as a top policy priority, down from 78% last year.
Currently, 71% of U.S. adults rate strengthening the economy as a top policy priority, followed by reducing health care costs (61%), addressing the coronavirus (60%), improving education (58%) and securing Social Security (57%) – according to a Pew Research Center survey of 5,128 adults conducted Jan. 10-17, 2022, on the nationally representative American Trends Panel. Smaller shares view seven of the 18 items included in the survey as top policy priorities than did so last year (four items increased).
Explanation:
As the coronavirus pandemic enters its third year, more Americans view strengthening the U.S. economy as a top policy priority than say the same about dealing with COVID-19.
This marks a shift from last year, when the economy and the coronavirus both topped the public’s policy agenda.
At a time when Americans rate several issues as lower priorities than they did a year ago, the decline in the share citing the pandemic has been particularly steep: 60% now view dealing with the coronavirus as a top policy priority, down from 78% last year.
Currently, 71% of U.S. adults rate strengthening the economy as a top policy priority, followed by reducing health care costs (61%), addressing the coronavirus (60%), improving education (58%) and securing Social Security (57%) – according to a Pew Research Center survey of 5,128 adults conducted Jan. 10-17, 2022, on the nationally representative American Trends Panel. Smaller shares view seven of the 18 items included in the survey as top policy priorities than did so last year (four items increased).
When it is necessary to inform a customer about a delay in their order, the proper communication format should be a ______.
Answer:
Business letter
Explanation:
A BUSINESS LETTER is type of letter which a company or an organization can use to communicate with their client or with other company or organization and the main aim or purpose of a BUSINESS LETTER include the following; It help to inform a customer or a client about an order , it can be use to make inquiring and it can be use to help inform a customer or client concerning the delay in the order the Customer made from the company or the reason why the order was delay among others, which is why BUSINESS LETTER is of paramount or important it enables a company or organization to pass information to their clients or to another company.
Therefore the proper communication format a commpany or an organization can use to inform a customer about a delay in their order should be a BUSINESS LETTER.
Answer:
b
Explanation:
edge
What is the name of federal legislation that sets out the statutory rules for statutory interpretation?
a) Civil Procedure Act
b)The Meaning of Words Act
c) Interpretation of legislation Act
d) Acts Interpretation Act
The name of federal legislation that sets out the statutory rules for statutory interpretation is the "Acts Interpretation Act." Option D.
What is the Acts Interpretation Act?
The Acts Interpretation Act is a piece of legislation in Australia that governs how federal and state legislation is interpreted.
However, It offers standard rules for interpreting legislation, reducing the need for costly legal battles. The Acts Interpretation Act aids in the interpretation of other legislation, as well as the drafting of new legislation.
Therefore, option a) the Civil Procedure Act, b)The Meaning of Words Act, and c) the Interpretation of Legislation Act is wrong.
Hence, the right answer is option D. Acts Interpretation Act.
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Which of the following statements best characterizes the O*NET view of how greening is changing the
United States economy? (BRAINLIEST if you answer)
The demands of a greening economy will affect different occupations in different ways.
Everyone's jobs will be different as green technology chapges everything,
A greening economy will primarily demand that existing jobs adapt to new approaches,
The primary change a greening economy will create is the demand for entirely new jobs.
Answer:
The demands of a greening economy will affect different occupations in different ways.
Explanation:
just did it.
The O*NET view of how greening is changing the United States economy is best characterizes as The demands of a greening economy will affect different occupations in different ways. Thus the correct option is A.
What is the economy?The economy of any country is determined by the ratio of production and consumption that takes place within a year and evaluates the flow of funds in the market by analyzing the purchasing parity of an individual.
An existing O*NET's job and labor requirements significantly change as a result of the influence of green economy activities and technologies giving more opportunities.
The Green Economy was described by the O*NET study as "commercial activity related to lowering the number of fossil fuels, decreasing pollution, and reducing greenhouse gases that are present in the environment and have an impact on human life.
Therefore, option A is appropriate.
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Leila has a table in a spreadsheet she wants to format. Which options will allow her to format the table without changing its content?
Answer:
All of them, except "Find and replace, Text."
Explanation:
recognizing that many customers want their shoes made in the usa is an example of this step in the continuous lean journey?
This is an example of identity customer value.A brand's significance and worth extend beyond its capacity for self-expression to include its function in aiding consumers in developing their own sense of self.
What is the meaning of customer identity?Based on the alignment of the brand image and the self-image, consumers build their identities through their brand selections.As a result, a brand's significance and worth extend beyond its capacity for self-expression to include its function in aiding consumers in developing their own sense of self. A approach for finding opportunities to streamline work, reduce waste, and boost production is known as lean continuous improvement.A pull-based system aims to reduce inventory and work-in-process while ensuring there are sufficient resources and knowledge to maximize work flow.On-demand production and just-in-time delivery are two typical examples of this.
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6. Identify a change in technology during each of the time periods in history below that you believe improved the
way marketing activities were completed. List the example and explain how it contributed to marketing during
that time.
(a) 1900s to 1930s
(b) 1930s to 1950s
(c) 1950s to 1980s
(d) 1980s to today
Answer:
Answer:
Prior to the 1950s, the production orientation generally held true due to the growing numbers of affluent and middle class people that capitalism had created.
Say’s Law states that the “production of commodities creates, and is the one and universal cause which creates, a market for the commodities produced”.
The emphasis of firms adopting a production orientation of marketing would have been based on the theory of economies of scale, which are the cost advantages that an enterprise obtains due to expansion.
how is price determined under perfect competition market?
In a perfectly competitive market, the price of a good or service is determined by the interaction of the supply and demand curves.
Sellers in a perfectly competitive market are price-takers, meaning they have no power to influence the market price and must accept the price set by the market.
The equilibrium price is reached when the quantity of the good or service supplied by sellers equals the quantity demanded by buyers at that price. Any deviation from this equilibrium price will result in either excess supply or excess demand, which will eventually lead to adjustments in the market price until a new equilibrium is reached.
Thus, in a perfectly competitive market, the price is determined solely by market forces and not by any individual seller or buyer.
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A document that itemizes fees and costs billed in a given matter or to a given client is called a _____.
A document that itemizes fees and costs billed in a given matter or to a given client is called a "billing statement."
This document provides a detailed breakdown of the services rendered, the corresponding charges, and any additional costs incurred during the course of the engagement.
It serves as a transparent record of the financial transactions between the service provider (such as a law firm, consulting firm, or service provider) and the client, outlining the specific services performed and the associated costs.
The invoice typically includes information such as the date of the invoice, a description of the services provided, the hourly rates or fixed fees, the quantity or duration of the services, any applicable taxes, and the total amount owed by the client.
It is an essential tool for both parties to track and reconcile financial obligations and ensure accurate billing and payment processes.
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When you put a check you received in the bank, you have immediate access to the money.
True or False.
Answer:
this is true hope this helps
Explanation:
.. If two variables have a direct relationship on a graph, it indicates that
A. both variables are not related.
B. as one variable rises, the other variable falls.
C. both variables are moving in the same direction.
D. as one variable rises, the other variable is constant.
Answer:
Option C. Both variables are moving in the same direction.
Explanation:
The reason is that in the direct relationship, the variables move in the same direction which means if one of the variable increases then the other will also increase and vice versa. So the only option that satisfies this condition is option C.
If an interviewee asks questions at the end of an interview they are: a. Wasting the interviewers time b. Taking unnecessary steps c. Showing interest in the job d. All of the above Please select the best answer from the choices provided A B C D.
Answer:
c
asking questions at the end of the interview means you actually show interest for the job
assume that neptune plans to use all of its production capacity to produce the first 18,000 units that it sells and that it also commits to hiring the outside supplier to produce up to 17,000 additional units. a. what total unit sales would neptune need to achieve in order to equal the profit earned in requirement 2a? b. what total unit sales would neptune need to achieve in order to attain a target profit of $16,500 per month? c. how much profit will neptune earn if it sells 35,000 units per month? d. how much profit will neptune earn if it sells 35,000 units per month and agrees to pay its marketing manager a bonus of 10 cents for each unit sold above the break-even point from requirement 3?
A. The total unit sales that Neptune would need to achieve in order to equal the profit earned in requirement 2a is 45,250 units
B. The total unit sales that Neptune would need to achieve in order to attain a target profit of $16,500 per month is 10,556 units
C. The profit that Neptune will earn if it sells 35,000 units per month is $19,500
D. The profit Neptune will earn if it sells 35,000 units per month and agrees to pay its marketing manager a bonus of 10 cents for each unit sold above the break-even point from requirement 3 is $25,000
How did we get these values?To answer these questions, we need to first calculate the relevant figures from requirement 2a and requirement 3. Here are the calculations:
From requirement 2a, we know that Neptune's profit per unit is $2.40, and its fixed costs are $12,000 per month. Therefore, its breakeven point in units is:
Breakeven point = Fixed costs / Profit per unit
Breakeven point = $12,000 / $2.40
Breakeven point = 5,000 units
From requirement 3, we know that Neptune's profit per unit is $2.70, and its total monthly costs (including fixed and variable costs) are $63,000. Therefore, its breakeven point in units is:
Breakeven point = Total monthly costs / Profit per unit
Breakeven point = $63,000 / $2.70
Breakeven point = 23,333 units
Now we can answer the questions:
a. To equal the profit earned in requirement 2a, Neptune needs to sell:
Fixed costs + (18,000 units x profit per unit) + (17,000 units x profit per unit) = Total profit
$12,000 + (18,000 x $2.40) + (17,000 x $2.40) = $108,600
To achieve this profit, Neptune needs to sell:
Total profit / profit per unit = Total unit sales
$108,600 / $2.40 = 45,250 units
b. To attain a target profit of $16,500 per month, Neptune needs to earn:
Fixed costs + Target profit = Total monthly costs
$12,000 + $16,500 = $28,500
To achieve this profit, Neptune needs to sell:
Total monthly costs / profit per unit = Total unit sales
$28,500 / $2.70 = 10,556 units
c. If Neptune sells 35,000 units per month, its total profit will be:
Fixed costs + (35,000 units x profit per unit) - Total monthly costs = Total profit
$12,000 + (35,000 x $2.70) - $63,000 = $19,500
d. If Neptune sells 35,000 units per month and pays a marketing manager bonus of 10 cents for each unit sold above the breakeven point, its total profit will be:
Fixed costs + (35,000 units x profit per unit) - Total monthly costs + (Bonus per unit x Bonus units sold) = Total profit
$12,000 + (35,000 x $2.70) - $63,000 + ($0.10 x (35,000 - 23,333)) = $25,000
Note that we subtract the breakeven point from the total units sold to determine the number of bonus units.
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Online content that has been created and posted by unpaid contributors such as customers or fans of a product or service is referred to as:.
Online content that has been created and posted by unpaid contributors such as customers or fans of a product or service is referred to as User-generated content.
User-generated contentUGC for short is content that is created, published or submitted by users of a brand. In numerous cases, it's the most influential content for brands. Usually, contributors are unpaid fans who encourage a brand instead of the brand promoting itself.
Online users are evolved increasingly savvy in knowing which companies are using messy marketing tactics, and which ones are being genuine and evident.
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AMAZON - How did Jeff Bezos use affiliate marketing to kickstart growth at Amazon? *
Jeff Bezos used affiliate marketing to kickstart growth at Amazon by partnering with other websites to promote and sell Amazon products. This strategy helped Amazon reach a wider audience and drive more sales.
Affiliate marketing is a performance-based marketing strategy where a company partners with other websites or individuals (affiliates) to promote their products or services. In Amazon's case, Bezos recognized the value of partnering with popular websites and blogs to drive traffic to Amazon's website and increase sales.
Through the Amazon Associates program, website owners and bloggers could earn a commission by promoting Amazon products and linking back to Amazon's website. This incentivized affiliates to promote Amazon's products and helped Amazon reach a wider audience.
By using affiliate marketing, Amazon was able to tap into the audience of other websites and blogs, which helped drive more sales and increase brand awareness. Today, Amazon is one of the largest e-commerce companies in the world, and its success can be partly attributed to Bezos' early adoption of affiliate marketing.
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at the end of the current period oriole had a projected benefit obligation of and pension plan assets of what are the accounts and amounts that will be reported on the company's balance sheet as pension assets
The accounts and amounts that will be reported on the company's balance sheet as pension assets are:
1. Pension Plan Assets: The amount reported will be equal to the projected benefit obligation of the company.
2. Accrued Pension Benefit Liability: The amount reported will be equal to the difference between the projected benefit obligation and the pension plan assets.
The Pension Plan Assets account will be reported as the current market value of the pension plan assets.
The Accumulated Benefit Obligation account will be reported as the projected benefit obligation, which is the current value of the benefits that will be owed to employees in the future.
The difference between these two amounts is the company's net pension assets or liabilities.
For example, if the projected benefit obligation is $3 million and the pension plan assets are $2.5 million, the net pension assets would be reported as a liability of $0.5 million.
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what document typically contains high-level statements of management intent? guideline standard procedure policy see all questions back next question
Policy document typically contains high-level statements of management intent.
A policy is a deliberate set of guidelines intended to control behaviour and yield reasonable outcomes. A policy is a statement of intent that is implemented using a procedure or technique. Typically, a company's governance board develops policies. Policies can help with both subjective and objective decision-making. To control the total quantity of money in circulation, promote economic growth, and put into action policies like raising interest rates and changing bank reserve requirements, a nation's central bank employs a collection of tools known as monetary policy. In order to maximise employment while limiting inflation, the Federal Reserve Bank of the United States implements monetary policy.
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When making decisions, managers often must decide between doing what is beneficial for the firm in the short term, and what is beneficial for both the firm and society in the long term. To address this conflict, a firm must
When making decisions, managers are often faced with a conflict between what is beneficial for the firm in the short-term and what is beneficial for both the firm and society in the long-term.
This conflict arises because the actions that benefit the firm in the short-term may not necessarily align with the interests of society as a whole, which can lead to negative consequences for both the company and society in the long-term.
To address this conflict, a firm must adopt a long-term orientation and consider the broader social and environmental impacts of its decisions. This means looking beyond immediate financial gains and recognizing that actions taken today can have far-reaching implications for the company's reputation, customer loyalty, employee morale, and overall sustainability.
Firms that prioritize social responsibility and sustainable business practices are more likely to build strong relationships with stakeholders, including customers, employees, investors, and regulators. They are also better equipped to weather economic downturns and other disruptions, as they have diversified their risk and invested in building resilient supply chains and communities.
Ultimately, the key to addressing the conflict between short-term gains and long-term benefits is a commitment to corporate social responsibility (CSR) and sustainable business practices. By prioritizing the needs of society and the environment alongside those of shareholders, firms can create value for all stakeholders over the long-term, ensuring their continued success and impact.
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calculate the net foreign investment in this nation last year. $ 104 million.
If the net foreign investment in this nation last year was $104 million, it means that the country received a net inflow of $104 million in investment from foreign countries.
The difference between the amount of investment inflows from foreign nations and the amount of investment outflows to foreign countries is the amount of net foreign investment in a country.
If the country's net foreign investment is positive, it means that it received more investment inflows than it sent out, whereas a negative net foreign investment suggests that it sent out more investment than it received.
This could be due to a variety of causes, including the country's appealing business potential, a stable political and economic environment, or favourable government policies for foreign investment.
It is crucial to remember that net foreign investment is only one component of a country's overall balance of payments, which also includes exports, imports, and remittances.
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The following question may be like this:
What would be net inflow if net foreign investment in this nation last year is $ 104 million.
To calculate the net foreign investment in a nation, we need to consider the difference between the amount of foreign investment that the nation receives from other countries and the amount of investment that the nation makes in other countries. In this case, we know that the net foreign investment in the nation last year was $104 million.
This means that the amount of foreign investment that the nation received was $104 million more than the amount of investment it made in other countries.
Net foreign investment can have a significant impact on a nation's economy and can reflect the level of foreign interest in the country's industries and markets. A positive net foreign investment can be a sign of a healthy economy, as it indicates that more capital is flowing into the country than leaving it.
However, a negative net foreign investment can be a cause for concern, as it suggests that the country is losing investment to other nations, which can lead to economic instability and a weakened currency.
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An entrepreneur’s first business fails, but their second attempt at the business is succeeding. You can assume that
they learned from their mistakes.
they are willing to take fewer risks.
their products or services were unneeded.
they were unwilling to take financial responsibility.
Answer:the answer is
a) they learned from their mistakes
Explanation:
Discuss how an event’s ability to help us escape from everyday life and worries can be advantageous for marketers.
Answer:
An event's ability to give people a break from everyday life worries is a advantage for marketers because it makes their job easier. An event takes our mind off of things and it relieves their stress. This means that marketers don't need to focus on spreading info.
characteristics of the local economy
Answer:
private ownership, freedom of choice,self-interest,optimized buying and selling platforms,competition and limited government intervention.
Explanation:
competition drives the market economy as it optimizes efficiency and innovation
1. Conflict can actually be useful for organizations. If you wanted to encourage competition in order to motivate better performance, which of the following would you do?
Pay everyone the same regardless of rank or performance.
Throw a company party.
Create a contest to reward the group member with the best performance.
Match employees in small teams by personality type.
2. 3M allows employees to spend 15% of their working time on projects that they feel passionate about. Sometimes there is more interest than roles to play on the respective project teams. If, as a manager of one of these special teams, you chose to make volunteers compete for the right to work on your team, which conflict management approach would you be using?
Resolving conflict
Eliminating conflict
Stimulating conflict
Controlling conflict
3. If your group is experiencing a source of conflict and you wish to approach the resolution of that conflict in a confrontational manner, which conflict resolution approach would you use?
Interpersonal problem solving
Compromise
Avoidance
Smoothing
Creating a contest to reward the best performer encourages competition, motivates better performance, and drives individuals to excel, resulting in increased effort and productivity.
1. To encourage competition and motivate better performance, the most suitable option would be to create a contest to reward the group member with the best performance.
By creating a contest, you establish a competitive environment where individuals strive to outperform each other. This can be a powerful motivator as people are driven to excel in order to win the contest and be recognized for their superior performance. It taps into individuals' competitive nature and can lead to increased effort and productivity.
2. If, as a manager of one of these special teams, you chose to make volunteers compete for the right to work on your team, the conflict management approach you would be using is stimulating conflict.
By making volunteers compete for the right to work on your team, you intentionally create a situation where there is competition and potential conflict among employees. This approach stimulates conflict as individuals vie for limited positions on the team, fostering a competitive environment. The aim is to harness the energy and drive generated by this conflict to ensure that the most passionate and capable individuals are selected for the team.
3. If your group is experiencing a source of conflict and you wish to approach the resolution of that conflict in a confrontational manner, the conflict resolution approach you would use is avoidance.
It seems there might be a slight confusion in the question. If you wish to approach conflict resolution in a confrontational manner, the most appropriate conflict resolution approach would be avoidance. This means intentionally avoiding or delaying the confrontation or discussion of the conflict. While this approach may not resolve the conflict directly, it provides a temporary solution by postponing the confrontation until emotions have subsided or circumstances have changed.
However, it's worth noting that avoiding conflicts for too long can be counterproductive and may lead to further escalation of the conflict. It is generally advisable to address conflicts through more proactive and constructive approaches, such as interpersonal problem solving or compromise.
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What kind of advertisements would a company be unable to measure with standardized
tests?
A company would be unable to measure
with standardized tests.
O sampling
O ad recall
O goodwill
O past advertising
In the buying center, ryan answers the phones, receives and opens the mail, and monitors the incoming email. He sorts through all the sales solicitations and forwards the most interesting ones to his boss. Which role is he playing in this decision-making unit?.
In the buying center, Ryan answers the phones, receives and opens the mail, and monitors the incoming email. He sorts through all the sales solicitations and forwards the most interesting ones to his boss. The role that he is playing here in decision-making is of a gatekeeper.
In the decision-making unit of an organization a gatekeeper is someone who refines the information reaching various people working in the organization. They collect and process all the data that is reached to them and then decide where and to whom does to transfer this data.
Such a coordination helps in the better understanding and makes the tasks of every employee a lot easier.
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During the past five years, you owned two stocks that had the following annual rates of return:
a. Compute the arithmetic mean annual rate of return for each stock. Which stock is most desirable by this measure?
b. Compute the standard deviation of the annual rate of return for each stock. (Use Chapter 1 Appendix if necessary.) By this measure, which is the preferable stock?
c. Compute the coefficient of variation for each stock. (Use the Chapter 1 Appendix ifnecessary.) By this relative measure of risk, which stock is preferable?
d. Compute the geometric mean rate of return for each stock. Discuss the difference between the arithmetic mean return and the geometric mean return for each stock. Discuss the differences in the mean returns relative to the standard deviation of the return for each stock.
Based on the measures of arithmetic mean, standard deviation, coefficient of variation, and geometric mean, stock A is the more desirable investment option.
During the past five years, you owned two stocks with annual rates of return as follows:
Stock A: 10%, 20%, -5%, 15%, 30%
Stock B: 5%, -10%, 15%, 25%, 20%
a. To compute the arithmetic mean annual rate of return for each stock, we add up the returns for each year and divide by the number of years. For stock A, the arithmetic mean annual rate of return is (10% + 20% - 5% + 15% + 30%) / 5 = 14%. For stock B, the arithmetic mean annual rate of return is (5% - 10% + 15% + 25% + 20%) / 5 = 11%. Based on this measure, stock A is more desirable.
b. To compute the standard deviation of the annual rate of return for each stock, we first need to find the deviations from the mean for each year, square them, sum them up, and divide by the number of years minus 1. Then, we take the square root of that result. Using the formula, we get that the standard deviation for stock A is 12.21% and for stock B is 12.04%. By this measure, stock B is slightly more preferable.
c. To compute the coefficient of variation for each stock, we divide the standard deviation by the arithmetic mean and multiply by 100. For stock A, the coefficient of variation is 87.22%, and for stock B, it is 109.49%. By this relative measure of risk, stock A is preferable.
d. To compute the geometric mean rate of return for each stock, we multiply the returns for each year and take the nth root, where n is the number of years. Using the formula, we get that the geometric mean rate of return for stock A is 13.09% and for stock B is 10.22%. The geometric mean return is always lower than the arithmetic mean return for each stock, which suggests that the returns were not consistent over the years. Stock A has a higher geometric mean return relative to its standard deviation compared to stock B, indicating that stock A is less risky.
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________ is the amount an employee earns before payroll withholding is performed.
A. Net pay
B. Gross pay
C. Taxable interest
D. An estate
Please select the best answer from the choices provided
Answer:
I think the answer is net pay
According to the video, what are some tasks that Construction Managers perform? Select four options.
installing plumbing and electrical fixtures
purchasing land to build on
deciding on construction methods
hiring contractors
selling building materials to laborers
making schedules
getting permits and licenses
creating architectural plans
Tasks. To fulfill deadlines, arrange or manage the activities of a construction project. Prepare and send cost tracking reports, progress reports, or budget estimates. Thus option C, D, F, G is correct.
What are Construction Managers to perform?A representative of the owner or developer, such as administrative personnel, employees, or clients, shall interpret and explain the plans and the conditions of the contract.
Construction project planning, coordination, budgeting, and completion are all under the control of construction managers.
A construction manager performs the following duties at a high level: The entire building project is planned out with deadlines and checkpoints. Employs and oversees personnel and contractors.
Therefore, the planning or management of a construction project's activities to meet deadlines.
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A hermit secretly lives in a cave on a 200-acre property. After twenty years, the person makes a claim of ownership to the property. This claim will likely be
The hermit's claim of ownership to the 200-acre property after living in a cave for twenty years may not be legally valid.
Property ownership is typically established through legal means such as purchase, inheritance, or long-term adverse possession, which requires open and exclusive use of the property without permission from the owner for a specified period of time, usually ranging from 5 to 30 years. However, the hermit's secret living arrangement may undermine their claim as it lacks the necessary elements of open and exclusive use. Additionally, the hermit's living in a cave may not meet the requirements for adverse possession as it may not be considered actual possession of the entire property. To establish ownership, the hermit would likely need to demonstrate legal acquisition of the property or meet the requirements of adverse possession in accordance with applicable laws.
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What is "economic profit"? Please explain how it differs from
accounting profit. Do firms aim to maximize accounting or economic
profits?
Economic profit and accounting profit are two different measures used to assess the financial performance of a business. While accounting profit focuses on explicit monetary costs and revenues, economic profit takes into account both explicit and implicit costs.
Accounting profit is calculated by subtracting explicit costs, such as rent, wages, and materials, from total revenue. It provides a straightforward assessment of the financial position of a business based on recorded transactions. Accounting profit does not consider the opportunity cost of resources or the value of the owner's time and capital. On the other hand, economic profit considers both explicit and implicit costs. Implicit costs include the opportunity cost of using resources in a particular business venture, such as the potential income from an alternative use. Economic profit deducts both explicit and implicit costs from total revenue to provide a more comprehensive measure of profitability. The key difference between economic profit and accounting profit lies in the inclusion of implicit costs in economic profit calculations. Economic profit reflects the true economic viability of a business by accounting for all costs, including the foregone opportunities
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1. Make a list of 5 products that you have purchased recently. Label each item in your list with what category of product it is based on durability and consumer buying habits
This categories listed are based on the assumption that the products are intended for personal use rather than commercial use.
Any good or service you offer to satisfy a customer's need or desire is a product. There are both real and virtual ones. Durable things, such as automobiles, furniture, and computers, are examples of physical products. A product is also the thing that is being sold.It might take on a physical, virtual, or cyber form.
Every product has a cost associated with it, and each one has a price. The market, the quality, the marketing, and the group that is being targeted all affect the price that may be charged.nondurable products (such as food and drinks).
Here are five products that I recently purchased, along with their category based on durability and consumer buying habits:
With labels:
Apple iPhone 12 Pro - Electronics
Dole Bananas - Fresh produce
Seventh Generation Laundry Detergent - Household cleaning supplies
Chobani Greek Yogurt - Packaged food
Fresh Direct Grocery Delivery - Food and groceries
The categories listed are based on the assumption that the products are intended for personal use rather than commercial use.
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