Two fundamental economic theories are combined in the law of supply and demand to explain how changes in the price of a resource, good, or service impact its supply and demand.
Supply and demand may not always react to price changes proportionately. Price elasticity refers to how much a product's supply or demand will change as a result of price fluctuations.
Demand fluctuations based on price will be more pronounced for products with a high price elasticity of demand. People cannot readily live without fundamental requirements, hence their prices will be relatively inelastic, meaning that demand will fluctuate less in response to price fluctuations.
Market prices have a tendency to push producers toward creating goods and services that consumers value more highly than the resources needed to generate them when property rights are clearly established and businesses can easily enter and exit marketplaces.
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Western scholars and policymakers are likely to argue that _______ and not power have been the prevailing force shaping international relations during recent decades
There is virtually no part of the world that is now not part of the global economy.
The world economy or global economy is the economy of all humans of the world, pertaining to the global economic system, which incorporates all economic activities which are conducted both within and between nations, including production, consumption, economic management, add general, exchange of monetary values and trade of goods and services.In some contexts, the 2 terms are distinct "international" or "global economy" being measured separately and distinguished from national economies, while the "world economy" is just an aggregate of the separate countries' measurements. Beyond the minimum standard concerning value in production, use and exchange, the definitions, representations, models and valuations of the planet global economy vary widely. it's inseparable from the geography and ecology of planet Earth.
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With a 0.04 percent chance of a stockout, what is the z-value to use in calculating safety stock?
Z is the preferred service level, it is the usual deviation of lead time, and D avg is the demand common. do not be intimidated. The best technique for calculating safety inventory only calls for a four-step procedure to calculate these variables.
Solution:
Stock out level=4%
In-stock Probability=100-4=96%
Therefore Z value at 96% service level=1.751
Resulting Z -a value of 1.751.
A stockout situation. With a lower score approach, you may have higher possibilities of running out of inventory. as an example, in case you pick out a Z rating of 2.33, there's a ninety-nine percent threat that you might not face a stockout situation. assume an agency has a team to investigate the market call, and it has been estimated that the call for an umbrella is almost 1000 devices each month. As a precaution, the organization can determine to have a hundred units as protection stock because the call for is in no way constant.
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are clear and accurate written statements that identify the basic rules and principles (the what and why) used to control and expedite decision making. describe the process by which something is done (the how).
Policies are clear and accurate written statements that identify the basic rules and principles (the what and why) used to control and expedite decision-making. This is further explained below.
What are policies?Generally, A policy may be defined as an intentional set of principles that are used to direct decision-making and produce sensible results. A policy is a declaration of purpose, and the manner in which it is carried out might be either a process or a protocol.
In conclusion, Within any organization, there exists at least one governing body responsible for formulating and enacting policies.
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Preparing a cash flow forecast helps a company to examine and manage its __________. profitability bottom line float times accounting practices
Preparing a cash flow forecast helps a company to examine and manage its float times. The period of time between when an individual prepares and submits a check as payment and when the individual's bank receives the instruction to withdraw monies from the account is referred to as float time.
After you've identified and scheduled your essential and non-critical work paths, it's time to determine your float times. These can be determined using a simple formula. Subtract the task's earliest finish (EF) date from its latest finish (LF) date to compute total float. The formula is as follows: LF - EF = total float. Float, also known as Slack cash.
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Project manager has discovered a team member has gold plated the work done in an activity. in order to discover this, the project manager must have been performing:_____.
A project manager has discovered a team member has gold plated the work done in an activity. in order to discover this, the project manager must have been performing key deliverables.
Something which is created as a result of a certain procedure is known as a significant deliverable. These deliverables can be the finished goods or they can be the final products of a project, or the organization may complete them in smaller and more frequent deliverables during the course of the project.
The stakeholder or the client is typically given a deadline for receiving the key deliverables, and the project is not considered s finished until the stakeholder has viewed and approved the final deliverable.
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pam needs to borrow money to buy a home. suppose that the saving rate in the country is expected to decrease. assuming nothing else changes, this means that if pam borrows now, her cost of borrowing money is expected to due to the following factor:
Pam's cost of borrowing money is expected to increase preferences for current consumption due to the federal deficit decreases, the federal reserve sells treasury securities to banks etc.
What is the meaning of cost of borrowing money?Cost of borrowing money refers to the price that people pay to borrow money. It is also known as Interest. When people make the payments for the loan, interest is a part of the payment.
The cost of borrowing money basically expressed as a percentage of the amount borrowed that is called principal amount. Generally, low-risk borrowers with good credit scores has to pay the lowest interest rates.
Basically, cost of borrowing money is the interest rate that a borrower has to pay on the money borrowed.
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the first step in the problem-solving process is defining the problem. what is the next step? proposing solutions redefining the problem testing the solution researching the problem
Researching the problem is the next step, as the first step in the problem-solving process is defining the problem. Hence, option D is correct.
What is meant by problem-solving process?Prospecting, planning, approaching, presenting, addressing objections, closing, and following up are the seven processes that make up the selling process. Investigating the needs and desires of potential consumers takes up the first three stages of the selling process, with your presentation occurring halfway through.
For instance, a customer service scenario might ask, "How would you handle an irate customer?
Thus, option D is correct.
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Answer:
It’s c
Explanation: define the problem
a business profile is a specific set of transactions events and ersults that can be descrivbed and documented
A business profile is a specific set of transactions, events, and results that can be described and documented. This statement is FALSE.
What is Business Profile?
A business profile is a summary of all the important aspects of a company. It is an overview that conveys crucial details about the subject. A statement that lists a company's key characteristics is called a business profile. The majority of these profiles are created to serve as promotional material for various objectives. Typically, these profiles are created for possible investors, government regulators, significant stakeholders, or even significant future clients or suppliers. Additionally, financial institutions frequently receive this information. Businesses utilize business profiles to spread the word about their brand, which may help them establish business alliances, hire new staff members, and sell more goods and services.
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The daily report performed by the night auditor contains key operating ratios used by management including?
The daily report performed by the night auditor should contain Room occupancy percentage
You may be wondering what a night auditor does if you are unfamiliar with the position. The two major duties of a night auditor are to ensure that visitors have a wonderful experience during the evening hours and to reconcile the financial reports from the previous day's operations. So, an evening auditor is a career in accounting? Partially, yeah. Even while front office departments often oversee night auditors, end-of-day financial reporting and reconciliation are among their primary tasks. Evening auditing work may be rewarding and engaging. The work is challenging in many ways, such as handling urgent situations late at night or handling complex visitor requirements.
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Who is responsible for ensuring the proper construction and load-in of the scenery and properties as well as managing budgets?
The answer is Technical Director
In a software corporation, engineering firm, film studio, theater company, or television studio, for example, a technical director (TD) is typically a senior technical person. In a certain technical subject, this person typically possesses the highest level of ability.
In software development, a technical director is typically in charge of managing technical risks and opportunities, key software design and implementation decisions made in collaboration with the development teams, task scheduling that includes tracking dependencies, managing change requests, ensuring the quality of deliveries, and educating the team on technical best practices.
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Suppose tickets to a baseball game are currently selling for $60 each, but the equilibrium price of tickets is $50 each. We would expect a.
We would expect a... surplus to exist and the market price of tickets to decrease.
An asset or resource that has more than is actively being used is said to have a surplus. A surplus can refer to a wide range of things, including money, goods, capital, and profits. A surplus in the context of inventories refers to items that are still on store shelves but have not yet been purchased. When you have more of something than you need or intend to use, you have a surplus. When you prepare a meal, for instance, you have a surplus of food if there is any left over after everyone has finished eating. Cash that is in excess of what is needed for ongoing operations is referred to as a cash surplus. Just as crucial as managing the flow of money into and out of your cash flow cycle is how you manage your cash surplus.
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the current price of blue jeans is $30 per pair, but the equilibrium price of blue jeans is $25 per pair. as a result, which of the following statements is not true?
The statement that is not true is there is a shortage of blue jeans at the $30 price.
What is a surplus?Equilibrium is the point where the quantity demanded equal quantity supplied. On a graph, it is where the demand curve crosses the supply curve.
The price at equilibrium is known as equilibrium price and the quantity at equilibrium is known as equilibrium quantity
If price is above the equilibrium price, quantity supplied exceeds quantity demanded and there is a surplus. If price is below the equilibrium price, quantity demanded exceeds quantity supplied and there is a shortage.
Since the current price of blue jeans is greater than the equilibrium price, there would be a surplus. Thus, quantity supplied would be greater than the quantity demanded.
Here are the options:
There is a surplus of blue jeans at the $30 price.
b. There is a shortage of blue jeans at the $30 price.
c. The quantity supplied of blue jeans exceeds the quantity demanded of blue jeans at the $30 price.
d. The equilibrium quantity of blue jeans exceeds the quantity demanded at the $30 price.
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given a sales price of $250 per unit, variable cost of $110 per unit, and a break-even point of 800 units, the estimated profit if 810 units are sold is $
The estimated profit if 810 units are sold is $1400.
By comparing an asset's market price to its initial cost, the breakeven point (break-even price) for a transaction or investment can be identified. The breakeven point is reached when the two prices are equal.
The breakeven point formula in corporate accounting is calculated by dividing the total fixed costs of production by the revenue per unit less the variable expenses per unit. In this context, fixed costs are those expenses that are constant regardless of the quantity of units sold. The production level at which total sales for a product equal total expenses is known as the breakeven point.
Gross Profit Margin / Fixed Costs = Business Breakeven
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Which competitive force has naomi capitalized on to benefit her company's manufacturing processes?
The annual budgeting process, where everything is reduced to a financial issue, is where most businesses can trace the beginnings of a systematic planning system.
Procedures are developed to estimate income, costs, and capital requirements as well as to establish annual budget expense ceilings. Information systems track functional performance in relation to financial goals.
Phase I companies frequently exhibit effective business strategies, although they are rarely institutionalized. They actually do exist. A projected earnings growth rate, occasionally qualified by specific debt/equity targets or other clear financial objectives, may be the only tangible sign that a corporate strategy is in place. The CEO and the top staff play a major role in the Phase I strategy's quality. Do they truly understand the markets and goods that their business serves.
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Rogressive insurance company sells insurance polices and related products. profressive insurance company is primarily what type of company?
Progressive insurance company is primarily a service company.
A service business enterprise offers a service to its clients, now not a product; by way of presenting services, a carrier business enterprise generates money. An accounting firm is an awesome instance of a carrier corporation. Accountants earn sales by means of doing books, auditing companies, and assets, and making ready profits tax returns.
Examples of pure service company include airlines, banks, pc carrier bureaus, law corporations, plumbing restore companies, motion picture theaters, and management consulting corporations.
A carrier-primarily based organization is the only one that gives customers, customers the closing method to their requirements or a carrier to every other agency. The carrier supplied through the organization is intangible and can be furnished in the form of talents, facilities, and know-how.
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a direct relationship between price and quantity is represented by: a equilibrium. b the supply curve. c the production possibility frontier. d the utility curve. e the demand curve.
A direct relationship between price and quantity is represented by the supply curve.
What do you understand by supply curve?The supply curve in economics is a visual representation of the relationship between the cost of an item and the quantity that a seller is willing and able to produce. The vertical axis of the graph reflects product pricing, while the horizontal axis represents supply quantity.
The law of supply can be understood better with the help of supply curves. They illustrate graphically how producers will raise their output as prices for a good or service rise.
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If+sales+are+$810,000,+variable+costs+are+76%+of+sales,+and+operating+income+is+$257,000,+what+is+the+contribution+margin+ratio?
Contribution margin ratio is 24%
Contribution margin ratio = 100% - Variable expense%
=100%-76%
=24%
Contribution Margin:
You can provide the contribution margin as a gross or per-unit figure. After removing the variable element of the company's expenditures, it indicates the additional revenue made for each product or unit sold.
By subtracting the variable cost per unit from the selling price per unit, the contribution margin is calculated. The metric, which is often referred to as dollar contribution per unit, shows how much a certain product adds to the company's overall profit.
It offers a means of illustrating the profit potential of a certain item or service a business offers, as well as the percentage of revenue that goes toward paying the business' fixed expenses. Profit is defined as whatever income that remains after paying fixed costs.
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drastically reduced competition that creates opportunities for rapid diversification and adaptive radiation can occur due to which of the following events?
Drastically reduced competition that creates opportunities for rapid diversification and adaptive radiation can occur due to mass extinctions.
What is mass extinction?A significant and sudden decrease in the variety of life on Earth is known as an extinction event (also known as a mass extinction or biotic crisis). During such an occurrence, the diversity and quantity of multicellular organisms quickly change, enabling us to recognize it. It occurs when the rates of speciation and extinction are out of balance. Estimates place the number of significant mass extinctions in the last 540 million years between five to twenty. Disagreements on the criteria for a "major" extinction event and the information utilized to determine historical biodiversity are the cause of these differences.
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for each of the following situations that occurred in june, with regard to common stock and dividends of a corporation, compute the amount of net income or net loss during june . (use a minus sign or parentheses for a net loss.) a. the company issued of common stock and paid no dividends.
The net amount that the company has issued of common stock and paid no dividends is $110,000 in Issued capital.
What is Common stock?
A form of corporate equity ownership and a kind of security is common stock. Outside of the United States, the words voting share and ordinary share are widely used. In the UK and other Commonwealth nations, they are referred to as equity shares or ordinary shares. A security that symbolises ownership in a firm is called common stock. Common stock owners choose the board of directors and cast ballots for corporate rules. Long-term rates of return are often higher with this type of stock ownership. The distinctions between preferred and ordinary stock are numerous. The fundamental distinction is that stockholders of ordinary stock typically receive one vote per share owned, whereas preferred stock typically does not.
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Which basic principle of individual choice does ginny's plan illustrate that her husband's advice does not?
Ginny's plan illustrates that many decisions are made on the margin.
What does an opportunity cost?Giving something up in order to obtain something is known as an opportunity cost. Sessions in the Reason Pool appear to have more of an effect on Ginny. So it makes logical to give swimming a bit extra time. She won't necessarily spend all of her time swimming, though. The marginal value of bike training will be greater than the worth of the final hour of pool training if she merely swims, as her husband advises. There is no all-or-nothing choice here. The margin is where decisions are made.
1. People have to make trade-offs.
2. The price of something is what
3. Rational individuals think at the margin you have to give up to get it
4. Individuals react to incentives
5. Trade can benefit everyone.
6. Markets are typically an effective approach to structuring economic activities
7. Sometimes governments can enhance market outcomes
8. A nation's capacity for producing products and services determines its standard of living.
9. Prices increase when the government prints too much money, and society must choose between inflation and unemployment in the short term.
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work flow analysis might be used to determine if work can be automated or simplified to improve value and productivity. group of answer choices true false
Workflow analysis might be used to determine if work can be automated or simplified to improve value and productivity is false.
Workflow automation is a method of ensuring that the flow of tasks, documents, and information across work-related activities operates autonomously and in compliance with stated business standards. When adopted, this type of automation should be a simple operation that is carried out on a regular basis to boost daily productivity.Workflow refers to the sequence of activities required to execute a task. Workflow automation transfers various activities from humans to software systems.To automate a workflow, a company must first identify the tasks that comprise the job. It then develops the rules and logic that govern how those tasks should be carried out. Finally, the software is programmed using preset business rules and logic.Thus, the answer is false.
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In which steps of the customer service process is the sales department involved?
Create service request settlement
Authorize service
What is Authorize service?
An authorised phone company (ASP) is an individual or organization that has been granted the go-ahead to carry out services on either a product that is still protected by a warranty without voiding the warranty by another company.
Therefore,
In which steps of the customer service process is the sales department involved
Create service request settlement
Authorize service
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A local store charges 1 1/2ach month on the unpaid balance for its charge account. what nominal annual interest rate is being charged? what is the effective interest rate?\
Effective Annual Rate = (1 + (nominal interest rate / number of compounding periods)) ^ (number of compounding periods) – 1
The interest rate that is actually earned on a loan or paid on an investment after interest has been compounded over a specified amount of time is known as the Effective Annual Rate (EAR). It is typically higher than the nominal rate and is used to contrast various financial products that compute annual interest over various compounding intervals, such as weekly, monthly, and yearly. As more compounding periods are added, the effective yearly interest rate rises over time. The rate of interest that is actually generated on an investment or paid on a loan as a result of compounding interest over a specified amount of time is known as the Effective Annual Rate (EAR).
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firm a operates 10 hours each day, producing 100 parts/hour. if productivity were increased 20%, how many hours would the plant have to work to produce 1000 parts?
company a operates 10 hours a day, producing 100 parts/hour. if productivity increases by 20%, it means the factory has to work to produce 1000 parts between 8 and 9 hours.
Manpower
Calculating the Amount of Manpower, Output and Working Time in Production – In production, we are often faced with several calculations to find out the amount of Manpower and Total Working Time to get the desired Output in order to achieve a predetermined Productivity. In Production, 100% Productivity is a reference percentage to perform Calculations. What we need to know is the Standard Time (ST) required to work on one unit of product. Standard Time (Standard Time or ST) is usually calculated and determined by product designers in accordance with established standards.
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When managers see things only through their own perspective, their focus is called __________.
When managers see things only through their own perspective, their focus is called assertiveness parochialism.
Assertiveness parochialism is the term used to describe a manager's emphasis when they only see things from their own perspective.
Flooding and Parochial Reorganization on the German North Sea Coast in the Seventeenth Century: Community Assertiveness and the Value of Pastoral Care.
This article explores the specifics of parochial restructuring in the seventeenth century using the example of dramatic terrain changes brought on by floods on the German North Sea coast. It covers a wide range of recently discovered information from Schleswig-Holstein archives. The discussion of these significant issues that come with such a restructuring of the religious landscape owing to flood catastrophe is supported by a number of well-documented case studies from the region.
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Spraying for mosquito control in a local community is an example of a public good because it is?
Answer:
helpful
Explanation:
killing the mosquitoes prevents malaria. This keeps the people away from malaria
On+november+1,+alan+company+signed+a+120-day,+12%+note+payable,+with+a+face+value+of+$19,800.+what+is+the+adjusting+entry+for+the+accrued+interest+at+december+31+on+the+note?
The adjusting entry for the accrued interest at December 31 on the note is $198.
Amount of interest = 9900 x ((12% / 360) x 60) = $198
Interest Expense Debit $198
Interest payable Credit $198
Interest Expense pertains to the cost of borrowing cash. It's miles the fee that a lender charges a borrower for using the lender's money. On the income assertion, interest rate can represent the fee of borrowing cash from banks, bond investors, and other assets.
An Interest Expense is the cost incurred with the aid of an entity for borrowed finances. Interest Expense is a non-working price proven at the profits declaration. It represents interest payable on any borrowings bonds, loans, convertible debt or lines of credit score.
To finish, interest expense is the borrowing value or finance value the corporation incurs while it borrows money or rentals an asset. Interest payable is the quantity due at the give up of an accounting yr or working cycle. This quantity is a present day legal responsibility as cutting-edge liabilities are due inside a year.
Disclaimer:- The proper question is:-
Q.On November 1, alan company signed a 120-day, 12% note payable, with a face value of+$19,800. what is the adjusting entry for the accrued interest at December 31 on the note?
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which claim will this company most likely make? aluminum pans are the most energy-efficient cookware. copper pans are the most energy-efficient cookware, but they cost the most. iron pans require less energy to heat up than copper frying pans, but they cost less. copper pans require the most energy to heat up.
In this question the company make claim that iron pans require less energy to heat up that copper frying pans and less cost.
In this question, the meaning of the claim means the feature of the product that a company claim to represent its product. In this, four claim are given from which we have to select the correct option. The company claim feature of the iron pan because the iron pans use less energy as compared to the other pans on the other hand the cost of the iron pans is also low. Hence, the company choose third claim.The company does not choose first claim because it is less beneficial.The company does not choose second claim because it is less beneficial.The company does not choose fourth claim because it is less beneficial.Learn more about claim here-
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the principle of increasing opportunity cost states that the more resources devoted to any activity, the the payoff to devoting additional resources to that activity.
The principle of increasing the marginal opportunity cost states that the more resources devoted to any activity, the smaller the payoff to devoting additional resources to that activity.
What is Marginal Opportunity Cost?
Marginal Opportunity Cost (MOC) of a given commodity is defined as the cost of sacrifice of a commodity so as to gain one additional unit of the other commodity. MOC can also be termed as Marginal Rate of Transformation. It is the ratio of number of units of a Good sacrificed to produce an additional unit of the other good.
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The principle of increasing marginal opportunity cost says that the more resources dedicated to any activity, the smaller the payoff to dedicating additional resources to that activity.
What is meant by marginal opportunity cost?A corporation will incur more costs in order to boost production, which is known as marginal opportunity cost(s). It comprises both direct and indirect expenditures as well as revenue lost from other opportunities that cannot be pursued if resources are allocated to producing more of one product.Marginal opportunity cost measures the opportunity cost associated with producing additional units of a good. The cost of business decisions that require giving up one thing for another is covered by this idea. For instance, a corporation might manufacture 10,000 pens in a single day's work.The principle of increasing marginal opportunity cost says that the more resources dedicated to any activity, the smaller the payoff to dedicating additional resources to that activity.
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Maxine views her company as a grouping of departments that must work together and as a single entity that has customers, suppliers, and competitors. Maxine is utilizing?.
Answer:
Option 4. Total quality management
Explanation: