The pricing insight it gives to the airline companies is to charge a lower price to the senior citizens because they have a relatively more elastic demand.
What is elastic demand?Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that as prices increases, the quantity demanded decreases more than the percentage change in price.
Group of answer choices
Charge a lower price to the senior citizens because they have a relatively more elastic demand.
Charge a lower price to the students because they have a relatively more inelastic demand.
Charge a higher price to the senior citizens because they have a relatively more inelastic demand.
Charge a higher price to the students because they have a relatively more elastic demand.
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As a part of a human resource planning process, managers reviewed data regarding the knowledge and skills of all current employees as well as a profile of characteristics available in the external market. The managers are engaging in
The managers are engaging in C) supply forecasting.
What is employee supply forecasting?Supply forecasting in human resource management refers to the estimation of the supply of human resources.
Supply forecasting takes into consideration the analysis of current human resources inventory and future availability in the external market.
Answer Options:A) demand forecasting.
B) insourcing.
C) supply forecasting.
D) simulations.
E) recruitment.
Thus, the managers, who reviewed data about the knowledge and skills of all current employees and a profile of characteristics in the external market, are engaging in C) supply forecasting.
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In Free to Choose, Milton Friedman makes the case that capitalism, i.e. free markets combined with governments that follow The Do Nothing Policy produce prosperity and freedom. In lecture, production possibilities frontiers were used to show the mechanism by which capitalism produces wealth, i.e. specialization according to comparative advantage and exchange.
The history of the 20th century is replete with examples of countries that have followed just such a policy of free market capitalism and experienced large increases in total and per capita wealth plus created stable peaceful political societies characterized by respect for individual rights and maximizing personal freedom, e.g. Japan, Taiwan, Korea, Singapore, and, until the communist Chinese takeover, Hong Kong. In the 20th century, countries that were already prosperous and free that continued choosing capitalist systems became more prosperous, e.g. the United States, Western Europe, Canada, and Australia.
A key feature of free markets is a level playing field where the rules apply to everyone whether they are rich, poor, powerful, or connected. The level playing field is sometimes referred to as the Rule of Law (ROL).
The ROL according to the Oxford English Dictionary is "The authority and influence of law in society, esp. when viewed as a constraint on individual and institutional behaviour; (hence) the principle whereby all members of a society (including those in government) are considered equally subject to publicly disclosed legal codes and processes."
The ROL can break down in two ways. First, rulers and their entourage can be held above and not be subject to the law or, second, immunity from the law can be bought. In either case, the ROL does not exist or, alternatively, that society has a corruption problem.
A conundrum of the “capitalism produces prosperity and freedom” policy are countries that have capitalist economies but haven’t produced much prosperity and are frequently but not exclusively characterized by bouts of politically based violence and oppressive abusive dictatorships, e.g. most middle eastern countries, most of South and Central America, Mexico, India, Russia, and until the last 20 years communist China.
In The Mystery of Capital, Hernando DeSoto addresses this conundrum and points out that adopting capitalism is required but not sufficient to produce U.S. and western European levels of prosperity and freedom. DeSoto argues that adopting capitalism isn’t enough. Countries have to choose a capitalist economic system, have ROL, plus do something else.
According to Hernando DeSoto, why are many 3rd world countries not getting rich even though they have ostensibly capitalist free market economies?
What is the something else these countries are missing?
Read Chapter 7, "Deng Perfects Socialism" and Chapter 5 'The Shanghai Gang" in The Party by Richard MacGregor.
In what sense and to what degree does Communist China meet DeSoto's requirement for a capitalist economy that will use free markets to create and equitably distribute wealth.
Does Communist China have a capitalist free market economic system where there is ROL and no corruption?
Explain with examples from The Party.
Requirements:
Your submission should be no less than 1000 words. Short papers will be penalized. There is no maximum length.
Proper grammar and effective use of English counts.
1. According to DeSoto, 3rd world countries like South America, which have capitalist economies but are not getting rich due to political crises and dictatorships.
2. The author also argues that more efforts is needed than just adopting the capitalist regime, it is essential to develop the system through strategic actions that guarantee ROL, and economic growth measures.
3. China has a Communist party with capitalist characteristics, for example, with the opening of the Chinese market, which constituted a great and rapid development in the productive and industrial system of the country.
What is the capitalist system?It is an economic system whose focus is an accumulation of wealth and profitability through private property and the means of production. It is based on the free market with less state intervention.
Therefore, the author argues in favor of capitalism and its positive characteristics for the economy, politics and society as a whole.
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Lisa works for an advertising agency and has presented her client with ideas for new commercials. After the presentation Lisa asks for ________ to determine if the clients correctly understood her message.
In order to find out if her clients understood her message, Lars must have asked for feedback.
What is the point of feedback?Feedback is based on the knowledge that a person acquires during a presentation or lesson.
When the presenter asks for feedback, the only way that the listeners can give them this information is if they were listening to the presentation which serves as evidence that they understood.
This is was Lars was going for so this is feedback.
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Bookmark question for later Which of the following is not one of the seven rights of an empowerment culture? a. Communicate the right expectations b. Provide the right training c. Measure the right things d. Demand the right behavior e. Give employees the right opportunity f. None of the above; i.e., they are all elements of an empowerment culture
The Demand the right behavior is not one of the seven rights of an empowerment culture
What is empowerment culture?Empowerment culture can be defined as the rules and regulation that is used to govern a company including their policy, value and norms.
Empowerment culture is important as it enables employee to know and understand the culture of the organization they work for as well as the goals and objective of the organization.
Therefore the Demand the right behavior is not one of the seven rights of an empowerment culture
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what are the branches of business studies
Answer:
Essential branches of business are : Accounting. Finance. Business Administration and Management. Marketing. International Business. Business Communications. Real Estate. Human Resources Management.
Explanation:
Business Studies is a vast field comprising over two dozen branches. Business studies may be considered a single branch, but it comprises many aspects.
Business studies has its roots spread over business, management, and economics. Various branches like accountancy, finance, marketing, organizational studies, human resource management, and operations are the pillars of business studies. The academic perception of business studies is business teaching. It is prevalent in countries like South Korea, Canada, Hong Kong, etc.
Majors are available in many subjects. Under the wide spectrum of business studies, majors are common in human resources, economics, finance, etc.
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The earnings gap in the U.S. labor market between black and white workers ___________ in the 1960s and 1970s, but, since 1980, the gap __________.
In the 1960s and the 1970s, the earnings gap between Black and White workers fell substantially. However, since 1980, it has pretty much remained the same.
Is there a gap between earnings of White and Black workers?There has always been a gap between the amounts paid to Black and White workers but this gap fell significantly in the 1960s and the 1970s.
Since the 1980s however, the gap has not moved by much which is why White workers still earn more on average.
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What encompasses all organizational data, and its primary purpose is to support the performing of managerial analysis tasks
Answer:
It would be the microorganism
Explanation:
This is because the most and part most outer shell of it is very hard knowing that we can solve the problem y=m+b
The microorganism encompasses all organizational data, and its primary purpose is to support the performing of managerial analysis tasks.
What is the organizational data?Organizational data are commonly referred to as demographic or firm demographic data, is information about the basic traits, operations, and structures of organizations.
Organizations can set baselines, benchmarks, and targets using good data in order to keep moving forward. A person can build baselines, find benchmarks, and set performance goals because data enables measurement.
All organizational data is included in the microbe, which exists primarily to help the accomplishment of managerial analysis tasks. Organizations can set baselines, benchmarks, and targets using good data in order to keep moving forward.
Therefore, The microorganism encompasses all organizational data, and its primary purpose is to aid in the performance of managerial analysis tasks.
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Managers are more likely to delegate if the lower-level employee has no supervisory experience. True False
Answer:
False
Explanation:
Hope this helps.
Sayre enterprises has a defined-benefit pension plan covering its 50 employees. in 2020, an amendment to the pension benefits caused an increase of $2,400,000 to the projected benefit obligation. sayre expects 20% of their employees to retire or quit at the end of each of the next 5 years. assuming that sayre uses the years-of-service method of amortization for prior service cost, what amount should they report as amortization of prior service cost in year one of the amendment?
Assuming the employee quit at the end of each of the next 5 years. The amount they should report as amortization of prior service cost in year one of the amendment is $800,000.
Amortization of prior service costFirst step is to calculate the number of employee for 5 years
Employee=50 + 40 + 30 + 20 + 10
Employee= 150
Now let calculate Amortization of prior service cost
Amortization of prior service cost=($2,400,000 ÷ 150 employee)×50 Employee
Amortization of prior service cost=$16,000×50 employee
Amortization of prior service cost=$800,000
Inconclusion the amount they should report as amortization of prior service cost in year one of the amendment is $800,000.
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What kind of warranty is often offered not through the manufacturer but instead through a third party? a. manufacturer’s warranty b. extended warranty c. full warranty d. limited warranty
Extended warranties are policies that extend the warranty period for consumer goods in excess of what is provided by the manufacturer.
What do you mean by extended warranty?An extended warranty is the service insurance or contract that is offered to any individual apart from the standard warranty as an addition.
It acts as a warranty that can run for a longer period of time than is offered by a third party.
This warrant costs extra besides the normal warranty that is provided for any unpredictable and expensive repairing work.
It provides a warranty to cars, bikes, and many more which can be purchased by the consumer as per their will.
Thus, an extended warranty is a warranty that is often offered not through the manufacturer but instead through a third party.Option B is the correct answer.
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The other person is correct. The answer is B: extended warranty.
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Think about the last purchase you made at a store. Did you know that when you made that purchase, you actually helped the economy to grow? How did your purchase do that?
Answer:
See below
Explanation:
By making that purchase, the industry you paid to made a profit. Profit helps countries to increase their GDP, therefore the economy has grown.
Answer:
The store owner used the money earned from the purchase to pay wages to the store’s employees. Those employees then bought other goods and services. When they paid for those items, that store in turn paid its employees, and so the cycle continues.
Explanation:
edmentum
How can I benefit from taxes?
Answer:
We pay taxes to the government as a way to pay for our daily life. Taxes can let you get credits on your health insurance, having safe roads, free public education and etc.
Explanation:
Hope this helped you :)
How many district courts are in the federal system?.
Because a majority of small business are rejected for traditional business loans, many ______ for short-term financing.
As a result of them being rejected for traditional loans, most small businesses end up applying for short-term financing.
Why do small businesses apply for short-term financing?Small businesses are considered risky by institutions who offer traditional business loans to the point where most of them are rejected.
As a result, they are forced to turn to short-term financing which comes with high rates and are therefore more expensive to obtain.
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Answer: Use credit cards
Explanation:
If the price elasticity of supply for pickles is 2 and the price of pickles increases by 10 percent, then the quantity supplied of pickles will increase by
If the price of pickles increases by 10 percent, then the quantity supplied of pickles will increase by 20%.
Increase in quantity suppliedUsing this formula
Increase in quantity supplied=Price elasticity of supply for pickle×Increase in price of pickles
Let plug in the formula
Increase in quantity supplied=2×10%
Increase in quantity supplied=20%
Therefore If the price of pickles increases by 10 percent, then the quantity supplied of pickles will increase by 20%.
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President carter’s second economic plan proposed new regulations for businesses. controlling wages and consumer pricing. a new method for reducing stagflation. establishing a national banking system.
Answer:
B. controlling wages and consumer pricing
Right on edge
Explanation:
President carter’s second economic plan proposed new regulations for controlling wages and consumer pricing. Thus the correct answer is B.
What are the objective of President carter’s economic policy?President carters economic policy focus towards reducing inflation with the help of spending and deficit reduction strategies. He also focus towards generating employment to improve the situation.
The Carter Administration tried to make government more effective, productive by carrying on the regulatory reform process started by the Nixon Administration.
To reduce the inflation he launched regulation to control wages and pricing on the consumer to maintain the flow of funds.
Therefore, option B Controlling wages and consumer pricing is the appropriate answer.
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Keith has set up a new burger joint in his locality. He is planning on introducing craft beers and milkshakes to the existing menu. Thus, the customers who visit his joint will have a range of options to choose from. This scenario exemplifies ________.
An identification of substitutes is done by Keith as he introducing new items to the existing menu so that customer will have ranges to choode from.
What is an identification of substitutes?This is a process whereby a seller plans to add some product that serves as subtitutes tp existing product.
Therefore, the identifying of substitutes is done by Keith as he introducing new items to the existing menu.
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Which of the following provides the best explanation for how consumer credit can exacerbate inequality?
Answer:
people with lower wealth and income may have less access to credit and pay higher interest rates when they are approved
Explanation:
Answer:the answer is A
Explanation:
people with lower wealth and incomes must scrifice more capacity and capital in order to acquire credit.
Given the following, compute the standard cost per widget. Direct materials per unit 4 pounds Direct material cost $1.25 per pound Direct labor per unit 1.5 hours Direct labor rate $10.00 per hour Variable overhead rate $4.00 per hour Multiple choice question. $11.00 $21.00 $26.00 $20.00
The standard cost per widget if Direct materials per unit 4 pounds and Direct material cost $1.25 per pound is: $26.00.
Standard cost per weightUsing this formula
Standard cost per weight=Materials+ Labor+ Overhead
Let plug in the formula
Standard cost per weight= (4 pounds × $1.25) + (1.5 hours × $10.00) +(1.5 hours × $4.00)
Standard cost per weight=$5+$15+$6
Standard cost per weight=$26
Therefore the standard cost per widget if Direct materials per unit 4 pounds and Direct material cost $1.25 per pound is: $26.00.
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In order to gauge attitudes about reports that its beef was barely meat, Taco Bell encouraged consumers to call a toll-free phone line and leave feedback. Taco Bell used _____ to measure public attitude.
By encouraging consumers to call a toll-free phone line and leave feedback about their products, Taco Bell used opinion sampling to gauge public attitude.
What are the advantages of opinion sampling?Through this telephone survey technique, TacoBell achieves faster completion of the survey, as well as being a more flexible and emotional method of identifying public attitudes.
Therefore, an opinion sampling is an effective way for a company to identify the perception in relation to its products and services, as well as to strengthen the relationship with the consumer.
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According to the national institute for occupational safety and health, how many united states employees feel stressed at work?.
The national institute indicated that about 40% of U.S. workers feel stressed at work.
What is a job stress?This refers to any harmful physical and emotional responses that occur when the requirements of the job do not correspond with the resources or need of the worker.
These job stress have a tendency to result to bad mental health, risk of anxiety, burnout, depression etc.
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In an economy with no taxes and no imports, disposable income increases from $1,000 to $2,000. If consumption increases from $800 to $_____, the marginal propensity to save is 0.3. 1,000 1,800 1,500 1,200
The increase in consumption when disposable income increases from $1,000 to $2000 is $1,500.00.
What is the increase in consumption?
The formula that would be used to determine the increase in consumption is: initial consumption + (marginal propensity to consume x change in disposable income)
Marginal propensity to consume = 1 - marginal propensity to save
1 - 0.3 = 0.7
Change in disposable income b= $2000 - $1000 = $1000
Increase in consumption = 800 + (0.7 X 1000) = $1500
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An unlicensed property manager can do all of the following except: Maintenance Showing units Negotiating lease terms Furnishing published information
When a person is an unlicensed property manager, they can do all of the above except Negotiating lease terms.
What can an unlicensed property manager do?An unlicensed property manager can show prospective buyers the units on sale as well as maintaining the units. They can also furnish people with published information on the units.
They cannot however, negotiate lease terms with people because they do not have the license and authority to do so.
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Alec just received his Florida broker license. Assuming the Real Estate Recovery Fund balance is at $400,000, how much of his license fee went into the fund
The amount of Alec's license fee that went into the Real Estate Recovery Fund, which just received his Florida broker license, is $3.50.
The real estate license fee in Florida costs $83.75. This amount is paid to the Florida Real Estate Commission (FREC).
FREC is the government office regulating real estate education and licensure in Florida. FREC is under the supervision of the Florida Department of Business and Professional Regulation (DBPR).
License fees of $3.50 are imposed as soon as the Real Estate Recovery Fund drops below $500,000.
Thus, the amount of Alec's license fee that went into the Real Estate Recovery Fund, which just received his Florida broker license, is $3.50.
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In a marketing communications mix, ________ refers to any short-term incentive that encourages the purchase or sale of a product or service.
Answer:
Sales Promotion
Explanation:
Source: Trust me bro
A product _____ is a group of products that are closely related to each other, in terms of either how they work or the customers they serve.
A group of products related to each other, in terms of operation or target audience, corresponds to a product line.
What is a product line?Also known as product mix, are the products sold by a company under different brands, with different benefits to reach a larger group of consumers.
Therefore, commercializing a product line can be a strategic advantage that generates value for consumers, competitiveness and market positioning.
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Retrenching to a narrower diversification base is Group of answer choices a strategy that allows a diversified firm's energies to be concentrated on building strong positions in a smaller number of businesses rather the stretching its resources and managerial attention too thinly across many businesses. Sometimes an attractive option for deepening a diversified company's technological expertise and supporting a faster rate of product innovation. A strategy best reserved for companies in poor financial state. An attractive strategy option for revamping a diverse business lineup that lacks strong cross-business financial fit. Usually the most attractive long-run strategy for a broadly diversified company confronted with recession, high interest rates, mounting competitive pressures in several of its businesses, and sluggish growth
Retrenching to a narrower diversification base is the most attractive long-run strategy for a broadly diversified company.
What is diversification?It should be noted that diversification simply means an investment strategy that's used to reduce risk in business.
In this case, retrenching to a narrower diversification base is the most attractive long-run strategy for a broadly diversified company confronted with recession, high interest rates, mounting competitive pressures in several of its businesses, and sluggish growth.
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What does a company do during the post-IPO stage?
a)uses proceeds to expand
b)sells stock to the public
c)files paperwork with the government
d)seeks financing from an angel investor
Answer:
A.Uses proceeds to expand.
Explanation:
Which factor would be most likely to lead to an unsuccessful IPO?
2. Give at least two examples of types of identity theft.
Answer:
Two examples of identity theft:
1. Dressing like a coworker to give the impression that you are them.
2. Talking like a coworker to give the impression that you are them.
Explanation:
Your client, bruno, is an investor. he is in the process of selling a fourplex and mentions to you that he hates the idea of the capital gains tax he'll be subject to. what should you tell him
I will tell him to consider a 1031 tax-deferred exchange as he hates the idea of the capital gains tax that will be imposed on his sales of his fourplex.
What is a capital gains tax?These is a type of tax that is owed on profits made from the sale of most investments if they are held for at least one year.
In conclusion, because bruno dislikes the idea of the capital gains tax that will be imposed on his sales of his fourplex, then, i will tell him to consider a 1031 tax-deferred exchange.
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