If a good is a necessity with few substitutes, then demand will tend to be more price-inelastic
It means that demand will become more inelastic.
A necessary good has few substitutes. For necessary goods, the increase in price does not decrease the quantity demanded effectively.
Because the consumer has to buy that good in a particular amount even if the price of the good changes. Hence, the demand for necessary goods is inelastic.
For the inelastic demand, the change in price does not change the quantity demanded effectively. Moreover, the good has few substitutes. The good is both necessary and with few substitutes.
The price elasticity of demand is calculated by the below formula.
Price elasticity of demand=Percentage change in Quantity demanded/Percentage change in price
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Standard cost per output unit for each variable direct cost input is calculated by multiplying?
Standard cost per output unit for each variable direct cost input is calculated by multiplying developed for a period for a planned output. An estimated expense that typically happens throughout the creation of a good or provision of a service is called a standard cost.
In other words, standard cost is the estimated sum of money a business will need to spend in order to create a something or provide a service under typical circumstances. Examples include payments due for rent, utilities, insurance, office staff salary, and supplies, among others. the normal fixed cost is $100,000, and the hourly rate is $15.
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If a landlord and a tenant have a dispute in Georgia: Select one: a. they may appeal to the real estate commission for a resolution. b. they must agree to binding arbitration. c. they must sue in a court of competent jurisdiction. d. they must be represented by a licensed Georgia attorney.
Option C. they must sue in a court of competent jurisdiction.
He is entitled to quiet exclusive enjoyment in your home. He has the right to contact the Landlord or his representative at a reasonable time. His landlord can enter his house only with your permission. He is entitled to the tenant's specific notice period.
If a landlord wishes to terminate a short-term lease, he ordinarily must give 90 days' notice. In some cases, landlords only need 42 days' notice. However, it should explain why there are so few notifications.
A landlord cannot force you to leave your home without notice. The notice period is usually 4 months, but in serious cases he may be shortened to 2-4 weeks.
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On a downward-sloping linear demand curve, total revenue reaches its maximum value at the?
As we start moving down a demand curve value of the revenue reaches a maximum at a point which is the midpoint of the demand curve.
In a downward-sloping demand curve, price and quantity demanded move in opposite directions, so the price elasticity of demand is always negative. A positive percentage change in price implies a negative percentage change in quantity demanded and vice versa.
Recall that the downward slope of the aggregate demand curve means that as the price level falls, more output will be demanded. Likewise, national income increases when the price level falls.
The question is incomplete. Please read below to find the missing content.
On a downward-sloping linear demand curve, total revenue reaches its maximum value at the
a.
midpoint of the demand curve
b.
lower end of the demand curve
c.
upper end of the demand curve
d.
It is impossible to tell without knowing the prices and quantities demanded.
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Can companies easily develop compensations that are both internally consistent and market competitive
It is not easy to develop compensation systems that are both internally consistent and market competitive.
An internally consistent compensation system helps to keep the best and talented employees in the organization. On the other hand, the compensation system for market competitiveness helps to attract the best talent from the market.
As in a company the employees serve differently to an organization, and it will be difficult to compensate each employee according to their contribution towards the organization.
Hence, it is important to have a compensation system that is both internally consistent and market competitive.
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______ students were twice as likely as their peers to cite economic reasons for dropping out of school.
The High school students were twice as likely as their peers to cite economic reasons for dropping out of school.
Males and females both have androgens and estrogens, however in exceptional amounts. Decreases in levels normally reduced male activity. Boys start puberty someday among the a long time of nine and 14. Boys hit puberty approximately two years later than ladies. but, Black and Hispanic boys have a tendency to go into puberty a bit earlier than white boys.
Even though it's known as the girl hormone, a person's frame additionally makes estrogen. A healthful balance of estrogen and testosterone is important for growth and improvement. while those hormones end up imbalanced, our improvement and function may be affected.
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The statement of cash flows shows a firm's revenues, costs of goods sold, expenses, and net income. True or false
Answer:
false
Explanation:
A statement of cash flows on tracks Cash, not credit, expenses, or any of that jazz. There are other financial reports to account for them.
When using the indirect method to complete the cash flows from operating activities section of the statement of cash flows, what is the proper disposition of a loss on disposal of equipment?.
The correct answer is to subtract the loss from net income proceeds from the sale of equipment ought to be included in net income within the working activities area. A loss on the deal of arrival ought to be added to net income within the working exercises segment.
What do you understand by Subtracting the loss from net income?In Accounting, under the indirect method of assessing or calculating money flow, the starting net cash flow is decided that’s enrolled within the course of all the working exercises in business. Any beginning net salary or net loss is registered within the starting beneath the round about strategy of completing money stream from working activities. Any non-cash costs or costs such as deterioration of physical resources and gear or amortization are included in the starting net wage level. Presently, any profit or misfortune from the transfer of long-term resources is subtracted from the net wage to decide the cash stream of working activityTo know more about money flow visit:
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The u.s. dollar suddenly changes in value against the euro moving from an exchange rate of $0.8909/euro to $0.8709/euro. thus, the dollar has ________ by ________.
The U.S. dollar suddenly changes in value against the Euro moving from an exchange rate of $0.8909/euro to $0.8709/euro. thus, the dollar has appreciated by 2.30%.
An exchange rate in finance is the price at which one currency will be exchanged for another. Although they are most frequently national currencies, currencies can sometimes be supra-national (like the euro) or sub-national (like Hong Kong).
The worth of one country's currency in respect to another is also considered to be represented by the exchange rate.
The exchange rate regime that will be used for each nation's currency is chosen independently. For instance, a currency could be hybrid, pegged (fixed), or floating. Governments have the authority to limit and regulate exchange rates.
The value of the US dollar against the Euro abruptly changes, going from $0.8909 to $0.8709 per euro. Consequently, the dollar has increased by 2.30 percent.
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Klaus invested $8,000 in a savings account. if the interest rate is 3.45%, how much will be in the account in 15 years by compounding continuously? round to the nearest cent.
$13,422.62 will be in the account in 15 years by compounding continuously.
Compound interest rateFormula: FV =PV * e^(i*t),
where FV =Future value,
PV=Present Value,
e =Euler’s number,
i =nominal rate per year,
t =Number of years.
Answer:
$13,422.62
that is why
FV =PV * e^(i*t),
A=?
P=$8,000
r=0.0435
t=15 years
A=8,000e0.0345*15
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A movement along the phillips curve shows that the unemployment rate and inflation rate are.
The Phillips curve argues that unemployment and inflation are inversely related
What is Phillips curve?The Phillips curve is an economic model named after William Phillips, who hypothesised a link between lower unemployment and higher rates of wage growth in an economy.
The Phillips curve is a graph that depicts the economic link between the rate of unemployment (or the rate of change in unemployment) and the rate of change in money earnings. It is named after economist A. William Phillips and suggests that when unemployment is low, wages tend to rise quicker.
According to the Phillips curve, inflation and unemployment are inversely related. Lower unemployment is associated with higher inflation, and vice versa. The Phillips curve was a notion used to drive macroeconomic policy in the twentieth century, but it was put into doubt by the 1970's stagflation.
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Phil greb has a thriving practice in which he assists attorneys in preparing litigation dealing with accounting and auditing matters. he is ""practicing public accounting"" if he:____.
Phil greb has a thriving practice in which he assists attorneys in preparing litigation dealing with accounting and auditing matters. he is ""practicing public accounting"" if he uses his CPA designation on his letterhead and business card.
Accounting, also called bookkeeping, is the measurement, processing, and transmission of financial and non-financial information about economic entities such as businesses and enterprises.
1: A system for recording and summarizing business and financial transactions and analyzing, verifying and reporting the results: The principles and procedures of this system I learned accounting as a freshman.
2a: accounting or accountant work.
Definition of Accounting is the process of systematically recording and maintaining financial accounts. Creating an income statement is an example of accounting. noun.
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Compare the national cultures of the u. s. and india using hofstede’s dimensions. How might these differences affect ups’s formulation and implementation of an expansion strategy in india?
`The CAGE Distance Framework, commonly known as the Hofstede dimensions, can be used to pinpoint the cultural, geographic, economic, and governmental disparities between two nations.
Power Distancing: As per Hofstede dimension India has a high level of power distance because it acknowledges the disparity in power and has a strong power-distancing culture. The US nation has embraced a culture that reduces the power gap because it encourages equality at all social levels and fosters individual independence.
Uncertainty Avoidance: Hofstede dimension says India has a low to medium preference when it comes to the idea of avoiding uncertainty. The US nation has a culture that encourages initiative, the generation of new ideas, and the rejection of ambiguity.
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How do you ensure that your proposed it governance strategy and plan are working?
Ensure that required processes are directly followed and outline roles and obligations. Define and report on critical success elements and associated Key overall performance signs. Facilitate implementation moves to remedy diagnosed possibilities.
Governance models need to establish the authority that presides over compliance, danger, felony, finance, and audit subjects. The model ought to additionally outline how the board will oversee risks throughout all regions and businesses. The organizational layout and reporting shape have to be made clear to personnel and stakeholders.
IT governance: gives readability between the commercial enterprise strategy and the IT strategy and tasks. Allows govt management and staff within your organization to set expectations, participate, speak, and establish accountability.
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Suggestion boxes, employee attitude surveys, and grievance procedures are examples of?
Suggestion boxes, employee attitude surveys, and grievance procedures are examples of upward communication.
An organizational structure defines the flow of information and different works in an organization. This structure defines the direction of workflow and formal communication in the company.
Organizational structure is a visual representation of decision-making. It is an extremely useful process in the division of roles, responsibilities, and their authorities in an organization.
Upward communication is that type of organizational communication in which the flow of information is flown from lower levels in an upward direction.
This type of communication creates a friendly environment in the organization because it is a type of vertical two-way communication. Upward communication enables the employees participation and boosts employee morale as they feel valued.
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The business structure that is linear and has producers at one end and consumers at the other is known as a(n) ______
Pipeline is the business structure that is linear and has producers at one end and consumers at the other. A business structure is a term used to describe a company's legal structure and how it affects the day-to-day operations of a firm for example partnership. An unincorporated firm run by a single person is known as a sole proprietorship.
Corporations, partnerships, holding companies, non-profits, subsidiaries, and limited liability companies are a few examples of common business structures. Due to the lack of continuous procedures like shareholder meetings and voting, a sole proprietorship and partnership are easy to start up.
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What events cause debits to be recorded in the factory overhead account? what events cause credits to be recorded in the factory overhead account?
Factory Depreciation At purchase, the company records a debit to the machinery account and a credit to cash or accounts payable. Each year, the company will debit the factory overhead account and credit the accumulated depreciation account to reflect the annual depreciation of the machine.
What is Factory Depreciation?Factory depreciation, also known as manufacturing depreciation, refers to the decrease in the value of all assets associated with the product's manufacturing. Factory depreciation is charged as an expense as part of manufacturing overhead because it is considered an indirect cost.
Depreciation is the annual decrease in the value of an asset. It is calculated in equal annual increments over the equipment's useful life.
Depreciation expense is considered an indirect cost in the production department of a manufacturing company because it is included in factory overhead and then allocated to the units manufactured during a reporting period. The most common treatment within a business is to treat depreciation as an indirect cost.
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The primary benefit of taking into account a child's interests while selecting exercise activities is that the child will __________
The primary benefit of taking into account a child's interests while selecting exercise activities is that the child will gain motivation to exercise.
Exercise plays a significant role in the development of child's brain and body. It helps strengthen children's bones, lungs, heart and improve their coordination, posture, balance and flexibility. Participation in choosing the exercise gives the child a sense of growth and ownership. It gives a boost to their self esteem, mood and morale. The child gains an interest toward the physical activity and gives his best and is motivated to keep continuing it life long.
Furthermore, research indicates that an active child becomes an active adults, in turn putting people away from the risk of developing life threatening conditions such as heart disease. This is why it's important to let children choose their exercise activities and train them to be fit from young age.
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When a small business forges an agreement with a bank that consents to honor a draft or other demand for payment after goods are delivered internationally, the firm receives a:__________
An agreement between a small business and a bank which leads to the bank consenting to honor a draft or demand for payment leads to the firm getting a letter of credit.
What is a letter of credit?This is an agreement that bank makes with a small business in order to increase the credibility of the small business when buying a good or service internationally.
The agreement makes it clear that the small business will pay the money that it owes for the goods delivered and that the bank guarantees it.
The reason for this is that the small business might not be trusted or popular enough so the seller might not trust them. Banks are more trusted however so the sale will go through.
In conclusion, an agreement between a bank and small business to guarantee payment is a letter of credit.
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A corporation may have issued more shares of stock than it has outstanding. This statement is.
A corporation may have issued more shares of stock than it has outstanding. This statement is True.
Because Companies may sell shares to stockholders and then later buy those shares back. Treasury stock is the name given to the repurchased shares. Shares issued less Treasury stock equal the number of shares that are currently outstanding. The number of shares issued will therefore be higher than the number of shares outstanding if a corporation has treasury stock.
Describe Treasury Stock.Treasury stock, commonly referred to as treasury shares or reacquired stock, describes previously outstanding stock that the issuing corporation purchases back from stockholders. The overall number of outstanding shares on the open market declines as a result.These shares were issued but are no longer in circulation, thus they are not counted in the calculation of dividends or diluted profits per share (EPS).What is a stock share?The smallest entire portion of a corporation that a single investor can own is a share. If you possess 10 shares, for example, you own 10 shares. Stock, on the other hand, is a measure of equity (e.g. you own 10 percent of the company). Consider shares as a tiny chunk of a business.Learn more about stocks here:
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________ entails a process of balancing various engineering, manufacturing, marketing, and economic considerations to develop a product’s form and features or a service’s features.
Innovations entails a process of balancing various engineering, manufacturing, marketing, and economic considerations to develop a product’s form and features or a service’s features.
What is innovation?Innovation is the implementation of thoughts in a way that results in the creation of innovation or enhances the delivery of existing ones. "A new or changed entity realizing or redistributing value" is the definition of innovation. Others have different definitions, but they all place an emphasis on the novelty, development, and dissemination of concepts or technologies.
Innovation frequently occurs as a result of the creation of more efficient goods, procedures, services, technology, works of art, or marketing strategies that innovators render available to consumers, governments, and society. Innovation and invention are interrelated, but they are not the same thing. Innovation is more likely to entail the direct implementation of an invention, and not all innovations necessitate the development of new invention.
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A(n)_____distribution system is one where all of the marketing functions at the retail level are managed by the producer.
A Marketing intermediary that brings buyers and sellers a distribution system is one where all of the marketing functions at the retail level are managed by the producer.
Inbound logistics brings raw materials, packaging, and other foodstuffs, research, and information from suppliers and producers. Material handling is the movement of goods from warehouses to factory floors and various workshops.
Logistics refers to that part of the supply chain specifically concerned with planning and managing the movement and storage of goods and services from their point of origin to their final destination. Logistics management starts with raw materials and ends with the delivery of finished products.
A distribution system is a chain of businesses or intermediaries through which goods or services move until they reach their final recipient or consumer. Sales channels include wholesalers, retailers, distributors, and even the Internet.
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A package of aluminum foil at kroger grocery store has no brand name on the package. this product is an example of a ____ brand.
This product is an example of a generic brand.
The generic brand is a sort of consumer product which is generally not advertised. Thus, it lacks a logo or widely recognized name. They are generally less expensive than brand name products, due to their lack of promotion.
These generic brands are also formulated to be alternatives for expensive branded goods. They are also common in pharmaceuticals and supermarkets and tend to be more prevalent during the recession.
Hence, as a package of aluminum foil at Kroger grocery store has no brand name on the package, so it is an example of a generic brand.
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If a competitive firm’s marginal revenue is equal to marginal cost, the firm is earning positive economic profits when ________
If a competitive firm’s marginal revenue is equal to marginal cost, the firm is earning positive economic profits when the price is above the average cost.
If the price exceeds average total cost, then the firm generates the economic profit, it means the profit which is above normal profit by production of the quantity that equates marginal revenue and marginal cost.
However, if the price falls below average total cost, then the firm faces an economic loss.
The average cost pricing rule is a standardized pricing rule which the regulators impose on certain businesses in order to limit what those companies are able to charge their consumers for its products or services to a price which is equal to the costs necessary to create the product or service.
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A home sells for $150,000 and has a mortgage loan balance of $100,000 at closing. if the commission is 5 nd other closing costs are $6,000. What is the seller’s net?
A home sells for $150,000
The loan balance of $100,000
If the commission is 5 nd other closing costs are $6,000.
The seller’s net would be $36,500
A loan is a loan of money by one or more individuals, entities, or other entities to another individual, entity, etc. Repayment amount of the principal borrowed.
A loan is a type of debt owed by an individual or other legal entity. A lender (usually a corporation, financial institution, or government) makes an advance payment to a borrower. In return, the borrower agrees to certain terms, including funding costs, interest, repayment dates, and other terms.
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When developing cash flows for capital budgeting, it is _____ to overlook important items.
When developing cash flows for capital budgeting, it is easy to overlook important items.
What is Capital Budgeting?The procedure a company uses to assess potential big projects or investments is called capital budgeting. Before a project is accepted or denied, capital budgeting is necessary.Examples of such projects include the construction of a new plant or a significant investment in a third party enterprise.A business may examine the lifetime cash inflows and outflows of a planned project as part of capital budgeting to ascertain whether the projected returns will satisfy an adequate target benchmark. The practice of capital budgeting is sometimes referred to as investment assessment.Discounted cash flow, payback, and throughput assessments are three of the main capital budgeting techniques.To learn more about capital budgeting with the given link
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What happens when theres a technological improvement and the demand for the output is perfectly inelastic?
When there's a technological improvement and the demand for the output is perfectly inelastic:
Demand for labor and capital decreases
What Is Inelasticity?Inelastic is a phrase used in economics to describe an item or service's static quantity when its price varies. When a product's price increases or decreases, consumers' purchasing patterns remain relatively stable, which is referred to as being inelastic.
What Is perfectly Inelastic?When demand is completely inelastic, prices or quantities are fixed and unaffected by the other variable. When the quantity sought changes proportionately to a change in price, this is known as unitary demand.
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In kentucky, under which of these is the seller obligated to pay the listing agent a commission if the agent is working under an exclusive agency agreement?
Under an exclusive right agreement, the seller obligated to pay the listing agent a commission if the agent is working under an exclusive agency agreement in Kentucky.
This agreement also requires the seller of the house to pay a commission to the broker in case they are planning to sell the house to someone. This agreement not only grants the broker exclusive rights to collect commission if their property gets sold but also enables the broker to function as an agent for the owner in negotiating the sale of a property.
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Describe the stages of team development. how would you facilitate a team's development through each stage?
Four stages of development move through are the following forming , storming, norming and storming.
Situational leadership by tuckman is the perfect fit for the explaination of this theory. Most high performing teams go through the five stage development process.
The internal characteristics are people in the team and how the interaction will take place amongst its members. Team usually develop each other through stage and process building that would significantly facilitate the development of the team. Cohesiveness determine the accept and confirm norms.
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Firms are more likely to accept a special order for one of their products at a reduced price if?
Firms are more likely to accept a special order for one of their products at a reduced price if "excess capacity exists."
What are special order?The special order would be a purchase that the business did not plan for while creating its annual budget. This presents an additional chance to exceed sales targets in terms of revenue.
Some key points regarding the special order are-
Special orders frequently ask for a reduced price than what is usually provided and/or can incur additional expenses. Students frequently wish to ignore the order right away because of the cheaper price or lesser contribution margin. However, the purchase should be taken into consideration if it will result in more profit.Keep in mind that only a special order is one the business did not anticipate. The business must make sure there is extra capacity available to fulfill this request without jeopardizing the year's initial development plan.The consumer who requests the special order must not compete with current customers or the business, since this could lead to a decline in sales at regular pricing.To know more about the special order, here
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The total amount of cash and other assets that a corporation receives from its stockholders in exchange for its stock is:
Paid -in capital is the total amount of cash and other assets that a corporation receives from its stockholders in exchange for its stock. Paid-in capital is another name for the money and other assets that shareholders have provided a business in exchange for stock.
Contributed capital is the same thing. When a corporation offers equity stock based on a price that shareholders are ready to pay for them, investors make capital contributions. Contributed capital can also refer to stockholders' equity line item on company's balance sheet, which is frequently displayed next to balance sheet entry for additional paid-in capital.
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