Inflation expectations create a self-fulfilling prophecy because people who expect rising prices will increase the demand and increase in demand will raise the price level.
This is because of law of demand.
The law of demand is the most common fundamental concept used in the economics. It works in relation to the law of supply in order to explain how market economies allocate the given resources and determine the prices of goods and services that are observed in everyday transactions.
The law of demand also states that the quantity purchased by consumers varies inversely with price. In other words, the greater the price, the lower the demanded quantity will be.
This happens because of diminishing marginal utility. It means that consumers use the first units of an economic good purchased by them to serve their most urgent needs first, and then after they use each additional unit of the good to serve their each lower-valued ends.
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How do corn products enter into the production of food what is the primary corn product used?
Corn products are used in the production of food as a result of regulations with in Federal Agriculture Improvement and Reform 1996 Act that allow farmers to choose the crops they want to cultivate.
Corn production and evolution;The main feed grains are oats, barley, sorghum, and corn. With more than 95% of all feed grain use and production in the United States going to corn, it is the most important feed grain.
Corn is farmed on more about 90 acres of land, with the Heartland region producing the largest of the commodity.The majority of the harvest is employed as the primary source of energy in animal feed.A wide range of food and commercial items, such as starch, sugars, corn oil, drinking and commercial alcohol, and fuel ethanol, are also made from corn.Higher yields resulted from advancements in technology (seeded varieties, fertilizers, herbicides, and machinery), as well as in production techniques, which led to an increase in corn production over time.Increasing corn prices and incentives on producers to expand corn acreage are the results of a strong demand towards ethanol production. By altering the corn and soybean crop rotations, farmers have frequently expanded corn area while lowering soybean plantings.To know more about corn, here
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In the cosmetology industry or service industry, putting clients first is? a. appropriate b. required c. not profitable d. risky
In the cosmetology industry or service industry, putting clients first is required.
In the cosmetology industry or service industry, the clients are given importance and so putting clients first is required, and their needs are heard and fulfilled accordingly.
Putting the clients first is the philosophy of running an industry or a company, in a way that makes clients feel special and appreciated. Thus, when the clients enjoy their experience at a business, whether it's a cosmetology industry or service industry, they're more likely to come back.
Putting the clients first means understanding and shaping clients needs, creating distinctive value for clients, and building client relationships.
Hence, option B is correct.
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Can jeremy, a licensee, receive a referral fee for sending his buyer client to ajax title?
if Jeremy, a licensee, receives a referral fee for sending his buyer client to Ajax title This would be a violation of RESPA. This is further explained below.
What is RESPA?Generally, Disclosures about real estate transactions are something that borrowers are required to get from their lenders, mortgage brokers, and loan servicers, as required by RESPA.
The Real Estate Settlement Procedures Act (RESPA) was enacted as part of an attempt to outlaw exploitative activities in the real estate business, such as kickbacks and referral fees, as well as to restrict the usage of escrow accounts.
In conclusion, If Jeremy, a licensee, were to get a referral fee from Ajax Title for referring one of his buyer clients to that company, this would be a violation of RESPA.
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Automobile manufacturers such as ford and general motors often use ________ distribution, such that dealers act as retailers.
Automobile manufacturers such as Ford and General Motors often use indirect distribution, such that dealers act as retailers.
What is Indirect Distribution ?An indirect distribution channel involves intermediaries that perform a company's distribution functions. Indirect distribution frees the manufacturer from certain startup costs and responsibilities that can cut into the time it needs to spend on running the business.
Plus, with the right vendor relationships, an indirect distribution channel can be much simpler to manage than a direct distribution channel. It can give a company welcome support and distribution expertise that the company may not have.
A chain of intermediaries through which a product moves in order to be made available for purchase by a consumer. An indirect channel of distribution typically involves a product passing through additional steps as it moves from the manufacturing business via distributors to wholesalers and then retail stores.
However, indirect distribution can also add new layers of cost and bureaucracy which can increase costs to the consumer, slow down delivery, and take control out of the manufacturer's hands.
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Instructions: questions 5-19 use the data table on tab q5-19 in the exam workbook. we strongly recommend you analyze this data with the aid of a pivot table. you may also benefit from adding some extra calculation columns to the dataset. answers for numerical data should be rounded to the nearest 1 decimal, comma-separating 000s, not written in currency format. so if the answer is $10,500.658, you would input 10,500.7. over the entire analysis period, which sales rep sold the highest cumulative quantity of a single item
Cumulative quantities is the adding up of the required quantities of materials over a particular period.
What is a cumulative quantity?Cumulative quantities simply mean adding up of the required quantities of materials over a particular period. This is important to plan production. In this case, you'll have to add the materials together.
Cumulative quantities are a logistics concept that includes adding up required material quantities over a certain time period, which can be represented by a 'cumulative curve.' This notion is utilised in serial production, namely in the automotive sector, to plan, control, and monitor production and delivery.
The Concept of Cumulative Quantities (CCQ) employs the closed loop feedback mechanism inherent in industrial, technical, and electrical systems. For closed-loop control, the objective requirements are summed for each time period and compared to the actual values. Positive cumulative deviation for a given time interval necessitates no additional order, but negative deviation necessitates a new order.
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When property is disposed of, what factors influence the amount of the deductible loss?
The amount of the deductible loss when property is disposed depends on the manner in which the taxpayer uses the property.
Who are taxpayers?A taxpayer is anyone who owes taxes to the federal, state, or municipal governments, whether they are an individual or a corporation. Governments primarily obtain their funding through taxes, which are levied on both citizens and companies. Individual taxpayers in the US are often required to submit and pay both federal and state tax returns each year. Businesses must also submit yearly returns, although they often budget for and make scheduled anticipated tax payments all year long. A taxpayer is anyone who owes taxes to the federal, state, or municipal governments, whether they are an individual or a corporation.Governments primarily obtain their funding through taxes, which are levied on both citizens and companies. Different annual income tax requirements apply to individuals and businesses.Also, The amount of the deductible loss when property is disposed depends on the basis in the property and the amount realized upon disposition. The amount of the deductible loss when property is disposed depends on the type of property and the way the property is disposed.
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The monopoly maximizes profit by setting a. price equal to marginal revenue. b. marginal revenue equal to marginal cost. c. price equal to marginal cost. d. marginal revenue equal to zero
(C) price equal to marginal cost.
Monopoly is a market condition with only one seller of a product where there is barriers to entry of others and presence of no substitutes price equal to marginal cost.
The level of profit is maximised in a monopoly when the marginal cost equal the marginal revenue. They choose an output and price certainly without exceeding the marginal revenue. The price is greater than average revenue of the production and get the profit maximise output.
In case monopoly quantity will be lower and the price will be higher than that of a competitive firm. Marginal revenue can only be zero when the production falls or not have been started yet.
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Do you think marketing intelligence tools and techniques has the potential to invade the privacy of private citizens? why or why not?
Market intelligence tools (also named marketing intelligence software) support businesses collect and aggregating required information about companies and people in their marketplace.
What is marketing intelligence tools?Market intelligence tools (also named marketing intelligence software) support businesses collect and aggregating required information about companies and people in their marketplace. This can include firm graphic information. financials and allocation rounds. competitive knowledge and analysis. Market intelligence allows you to become more customer-centric, gain a better understanding of market demands and consumer opinions, gather real-time relevant data, improve upselling chances, minimize risks, improve market share, and gain a competitive edge.
Technological innovation holds outpaced our privacy protections. As a result, our digital footprint can be tracked by the government and corporations in practices that were once unthinkable. This digital footprint lives constantly growing, including more and more data about the most intimate elements of our lives. As connectivity improves access to information, it also increases the possibility for agents to act established on the new sources of information. When these sources include personal information, risks of damage, inequality, discrimination, and loss of autonomy easily occur.
Anti-virus software exists becoming increasingly concentrated on online protection since this stands where most malware and attacks on privacy come from. Anti-virus tools like Bit defender can block unauthorized environment connections, warn you about suspect sites, and pick up any phishing exercise.
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Question 7 of 12 The type of settlement option which pays throughout the lifetimes of two or more beneficiaries is called
The type of settlement option which pays throughout the lifetimes of two or more beneficiaries is called joint and survivor. An insurance plan called a joint and survivor annuity is generally made for retired couples who desire a guaranteed monthly income that will last as long as either partner does.
Potential investor must carefully consider associated fees and settlement. Annuity fees typically cost 2.3 percent of annuity's value, although they can be more expensive, especially in sophisticated plans. The benefit of joint and survivor annuity is that it will pay out if one or both beneficiaries live longer than anticipated.
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Business process management applies only to commercial, profit-making organizations.
a. true
b. false
False. Business process management applies to commercial, nonprofit, for-profit, and government entities.
Discovering, modeling, analyzing, measuring, improving, and optimizing business processes are all aspects of business process management. Businesses have processes in place to ensure that their strategies are effectively implemented throughout all levels of the organization. Structured and repeatable processes are one type, while unstructured and unpredictable ones are another.
Since the roles, regulations, strategies, and objectives of businesses and other entities it embraces are always evolving, business process management is an expansive field that is also inherently dynamic. Several optimization approaches, including as Six Sigma, lean management, and Agile, have found a home in business process management over the years.
Some firms' business processes have grown too huge and complex to be handled without the help of automated tools, therefore vendors of business process management software have stepped in to facilitate widespread organizational transformation. Progress in artificial intelligence (AI) has in turn fueled the development of new Business process management tools that make it easier to find, create, measure, enhance, and automate processes. business process management, which has traditionally focused on back-end procedures, has expanded to also encompass the optimization of customer and employee interaction systems in response to the advent of digital business.
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Describe how effective employee relations techniques prevent the need for unionization.
The secret to achieving a union-free workplace where unions are simply unnecessary may lie in having good employee relations.
What are employee relations?Employee relations are defined as an organization's efforts to establish and preserve a good working connection with its employees. Organizations strive to retain employees' loyalty and increase their level of engagement at work by sustaining strong, constructive employee relations. Organizations strive to retain employees' loyalty and increase their level of engagement at work by sustaining strong, constructive employee relations.What are ways to establish strong employee relation?Your approach for good employee relations should begin with hiring. When it comes to selecting the best applicant for the job, you should work along with your human resources specialists.When it comes to fostering a great workplace culture, communication is of the utmost importance. Communicate as early, frequently, aggressively, and consistently as is practicable regarding all issues affecting the company, HR issues, or community-related issues.First and first, all of your managers, supervisors, and staff members need to be aware of what a union is and what takes place during union organizing drives. Employees should have a rudimentary awareness of the reasons why unions might snoop around their workplaces and their legal rights in the event that union organizing occurs.Make sure there is a network in place to report any and all suspicious or anomalous third-party activity. Representatives from human resources must delicately balance the roles of management defender and employee advocate. They should have a strong understanding of union avoidance and detection techniques.By offering competitive wage and benefit structures, a real union-free culture can set itself apart from companies that use unionized workers and rival brands of goods.Employee retention starts with the employment process, from the first interview to the onboarding procedure, as we mentioned before. Consider creating a Pre-Hire Orientation film that truthfully outlines the organization, your brand, your values, and your culture—not to mention, of course, the job and the requirements for the position.Always design policies and procedures with the third party out of the picture. The greatest amount of development, encouragement, and fostering should go into things like skip-level meetings, spontaneous employee appreciation, general employee recognition, staff involvement, company-sponsored community involvement, etc.Establishing teams that provide employees the freedom to share their opinions, ideas, and proposals is essential for a successful employee relations approach. It is impossible to emphasize the value of receiving regular and consistent feedback from your staff.It goes without saying that you must support great employee relations if you want to become a top employer. This will enhance employee retention in addition to assisting your business in being a union-free environment.
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When the number of students enrolled is 12,000 a year, the marginal external benefit of a college education is _______ per student per year.
While the variety of college students enrolled in 12,000 a yr, the marginal external benefit of university training is $16,000 in step with pupil in step with year.
The marginal external benefit is the advantage from eating one more unit of a good or service that falls on people aside from the customer.
Marginal external gain & Marginal Social benefit: For a firm in an aggressive marketplace, P=MR=MPB=call for. this is honestly the fee line because the marginal sales curve for an aggressive company is the same as the marketplace charge, which in flip is identical to MPB and the demand curve.
Many, if no longer most transactions create external blessings – examples consist of: Taking a bus reduces congestion on a road, enabling other avenues customers to travel extra speedy. Shopping for a burglar alarm may additionally deter possible burglars from a street or an area, which provides an advantage to different homeowners.
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The reason that quantum effects are not observable in the everyday, macroscopic world, is because:_____.
The reason that quantum effects are not observable in the everyday, macroscopic world, is because the quantum world is referred as a micro environment.
We refer to the quantum world as a micro environment. The world that we call “normal” is the macro environment. Quantum effects are part of many other effects, there are so many effects or outcomes of particles or experiments, that they in a sense balance each other out.
The macro world is simply too large for the effects to be shown. There are so many particles, and therefore a seemingly endless amount of effects and outcomes. When we examine a particle individually, though, there were can see the results in their true forms. The Quantum effects that don’t follow normal classical expectations.
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Fine properties, inc. , negotiates with general maintenance corporation to include a liquidated damages clause in their contract. To be enforceable, at the time of the contract. An estimate of the damages from a breach must be?.
An estimate of the damages from a breach must be set when the contact is formed due to the difficulty of estimating the damages that would result from a breach.
What is the liquidated damages clause?
Related Content. A contractual provision requiring a party in breach to pay a pre-determined amount to the other party as compensation for the breaching party's failure to perform a specific task or comply with a particular duty or obligation.
How do you know if a liquidated damages clause is valid?
In determining whether a liquidated damage provision is enforceable, a court will look at whether the amount of the liquidated damage is reasonable in light of either:
(1) the anticipated loss at the time the contract was entered into; or
(2) the actual damages caused by the breach.
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What is one of the scrum master's responsibility during innovation and planning iteration?
The scrum master's responsibility during innovation and planning iteration is chargeable for growing and onboarding venture groups.
The Scrum grasp is chargeable for growing and onboarding venture groups, integrating them into the agency and providing a clear imaginative and prescient of the product. The Scrum grasp additionally enables conversation and records alternate between external organizations and the project team.
Scrum grasp is the person that is answerable for facilitating/coaching the improvement group and the Product owner to work on the day after day development sports. he is the only who ensures that the group knows the Scrum Values and concepts and is capable of practice the
The Scrum grasp must spend time making ready the retrospective, because it's a number one vehicle for development. recognition on gadgets the crew can cope with, not on how others can enhance. The Scrum grasp is responsible to educate and educate crew individuals in a proactive way, and persuade them to do the right factor.
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The goals of the Federal Reserve when it decreases the discount rate are to (select all that apply) ______.
The goals of the Federal Reserve when it decreases the discount rate are to increase the money supply by lowering the discount rate.
What is the goal of the Federal Reserve Bank ?Adjusting the discount rate by the reserve usually help central banks such as the Fed in reducing liquidity problems as well as the pressures of reserve requirements.
In this case, , control the supply of money in the economy as well as basically assure stability in the financial markets will be achieved.
The Federal Reserve can increase the money supply through the lowering the discount rate because Lowering the discount rate gives depository institutions a greater incentive to borrow.
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How much interest is earned in just the 2nd year on a $1,000 deposit that earns 7% interest compounded annually?
The interest earned compounded annually at $80.14
$1000 x (1.07)^2=1144.90 after 2 years
1144.90 x 0.07 = 80.14
A technique of calculating and adding interest to funding or mortgage as soon as a year, in preference to for any other period: if you borrow $100,000 at five% hobby compounded annually, after the first yr you'll owe $five,250 on a principal of $a hundred and five,000.
It's far to be mentioned that the above-given system is the general components while the major is compounded n quantity of instances in a yr. If the given most important is compounded annually, the quantity after the term at percentage fee of interest, r, is given as A = P(1 + r/a hundred)t, and C.I. could be P(1 + r/100)t - P.
That stated, annual hobby is commonly at a higher rate because of compounding. in place of paying out monthly, the sum invested has twelve months of increase. But if you are able to get the equal price of interest for month-to-month payments, as you can for annual bills, then take it.
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The interest earned compounded annually at $80.14
$1000 x (1.07)^2=1144.90 after 2 years
1144.90 x 0.07 = 80.14
A technique of calculating and adding interest to funding or mortgage as soon as a year, in preference to for any other period: if you borrow $100,000 at five% hobby compounded annually, after the first yr you'll owe $five,250 on a principal of $a hundred and five,000.
It's far to be mentioned that the above-given system is the general components while the major is compounded n quantity of instances in a yr. If the given most important is compounded annually, the quantity after the term at percentage fee of interest, r, is given as A = P(1 + r/a hundred)t, and C.I. could be P(1 + r/100)t - P.
That stated, annual hobby is commonly at a higher rate because of compounding. in place of paying out monthly, the sum invested has twelve months of increase. But if you are able to get the equal price of interest for month-to-month payments, as you can for annual bills, then take it.
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The first step in the closing process is to reduce the balances in the temporary accounts to zero. the second step is to transfer the effects of step 1 to which account?
In the closing process, after the balances in the temporary accounts have been reduced to zero, the second step is the transfer those balances to the Retained earnings account.
What are temporary accounts?These are accounts in the financial statement that have to be closed off at the end of a financial period. They include accounts such as Revenue, expenses, and the income summary account.
When these accounts are closed off, their balances go to zero and the amount that was in them as balance carried down will be sent to the Retained Earnings account as revenue or expenses.
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Step one to closing on a house includes commencing an escrow account.
That will be held by using a third party, such as a bank or your identity or escrow agent. This impartial birthday party account holds directly to money concerned with the sale, such as any required deposits or earnest money.
Step one in the ultimate technique is to reduce the balances within the temporary accounts to zero.
phrases on this set:prepare unadjusted trial stability.report adjusting entries.prepare adjusted trial stability.put together monetary statements.near the brief bills.The ultimate entries serve to switch the balances out of sure transient money owed and into everlasting ones. This resets the stability of the temporary accounts to 0, prepared to begin the subsequent accounting duration. The procedure transfers these temporary account balances to everlasting entries on the corporation's balance sheet.
The steps leading as much to the ultimate date include:
purchase settlement reputation.non-obligatory client home inspection.mortgage origination.Lender home appraisal and credit score underwriting.loan Approval.the property owner and name insurance.remaining disclosures.Learn more about the closing process here: https://brainly.com/question/13408214
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A __________ agent can act for the client in all matters, including living arrangements.
A universal agent can act for the client in all matters, including living arrangements. A universal agent can act for the client in all matters, including living arrangement. A person who has the authority to handle all of their principal's business, regardless of the nature, is known as universal agent.
He has the authority to carry out any tasks that their principal has delegated to them. Power of attorney typically appoints universal agents. There can only be one universal agent per principal. In each of his business lines and in each of multiple locations, he might have a general agent.
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An employer would be expected to make reasonable accommodations for a disabled worker, such as?
An employer would be expected to make reasonable accommodations for a disabled worker, such as allowing a part-time schedule.
Employer consider employee regarded as part-time if they regularly work fewer than 30 hours per week, which typically translates to working fewer a days per workweek. One who works less hours per week than a full-time employee is considered part-time.
Pro rata, part-time employer are given the same employment benefits as full-time employees. Although there isn't a set number of hours that defines someone as the full- or part-time, a full-time employee often puts in 35 hours or more each week.
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The fee that mutual funds use to help pay for advertising and promotional literature is called a __________.
a. back-end load fee.
b. operating expense fee.
c. front-end load fee.
d. 12b-1 fee.
d. 12b-1 fee
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How does inventory differ from other types of purchases and discuss what controls pertain specifically to inventory processes?
Inventory are the products which are directly involved in the manufacturing of a business. Inventory includes raw materials inventory, work in progress inventory and finished goods inventory.
In a merchandising business, inventory includes all the products available for use. There are inventories in the administrative section of the company also which is known as the supplies Inventory.
Purchases are a nominal account that forms part in the cost of goods sold. Purchases term is used in the manufacturing firm and is the raw materials needed in the production of their product, thus will also form part of the inventory account if there is a left over for it.
Inventory on the other hand can come from the purchases itself in terms of the raw materials.
There are many inventory control such as the following:
Conducting different semi annual inventory count to know the actual number of inventory in hand against the monitoring of the inventory
Maintaining security of the facility of the stockroom storage by having cctv and padlock of the room.
Checking the incoming and outgoing inventory based on the documents given in the store.
Proper segregation of duties must be there, the record keeper should not be the same person as the one holding the inventory.
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Suppose the population in a town increases and a breakthrough in technology occurs also. what would we expect to happen in the market?
If the population in a town increases and a breakthrough in technology occurs also the market demand increases and deliver cost decreases.
The demand for a great increases and, on the equal time, deliver of the coolest decreases.Equilibrium charge might lower, but the effect on equilibrium quantity might be ambiguous.
Metal is an enter for the production of cars, population so a fall within the fee of metal reasons the supply curve for vehicles to shift proper. because the call for curve remains the same, equilibrium fee decreases and equilibrium amount will increase.The charge of a product to fall in the destiny purpose demand to decrease and shift to the left.
If a population expects the price of an awesome to head down within the future, they preserve off buying it these days, so the demand for that right today decreases. on the other hand, if a customer expects the price to head up within the destiny, the demand for the best these days will increase.
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If a firm is experiencing _____________________, then as the quantity of output rises, the average cost of production rises
If a firm is experiencing decreasing returns to scale, then as the quantity of output rises, the average cost of production rises.
Decreasing returns to scale happens when the percentage of output is less than the desired extended input at some stage in the manufacturing manner. for example, if the input is accelerated by means of three instances, however, the output is reduced by 2 instances, the company or financial system has experienced decreasing returns to scale.
For example- if an automobile company increases its variable inputs (capital, uncooked substances, and labor) by 50%, but the output of motors will increase by only 35%, then we are saying there are lowering returns to scale from growing the number of inputs
Regulation of decreasing returns to scale in which the proportionate increase inside the inputs does no longer result in equal growth in output, the output increases at a reducing rate, and the law of reducing returns to scale are stated to operate. This results in better common cost consistent with the unit.
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Risk-adjusted discount rates are used for proposals with different levels or classes of?
Risk-adjusted discount rates are used for proposals with different levels or classes of risk.
hazard adjusted to go back is a degree to find how a whole lot return and funding will offer given the extent of risk-adjusted to it. It enables the investor to make a contrast between the excessive chance and the low-chance go-back funding.
Risk-adjusted go back on capital is a chance-primarily based profitability measurement framework for analyzing chance-adjusted economic overall performance and supplying a steady view of profitability across agencies. The concept was developed by Bankers who agree with principal designer Dan Borge in the overdue 1970s.
Any ratio above 1 is normally taken into consideration as excellent, with 2 to 3 being terrific and whatever beyond that an exquisite guess. In this manner, buyers can see the excess returns they could assume in a change in step with a unit of danger, as Mutual fund A may be taken into consideration the better funding although it returned much less on average.
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importance of business
Answer:Business is an organization which involves the of goods and services. Every day thousands of people start their own business.To be successful in business one should have special character traits,for example, to be hard-working, clever,energetic and even adventurous.
Explanation:
Government policies on foreign-trade regulation and taxation constitute the _____ factors that have a significant influence on business.
Government policies on foreign-trade regulation and taxation constitute the economic factors that have a significant influence on business.
What are economic factors?Economic forces are elements that influence the competitiveness of the firm's operating environment.
Economic Factors Examples
The tax rate.
The exchange rate.
Inflation.
Labor.
Supply and demand.
Wages.
Policies and laws
Administrative activity.
Employment, wages, prices/inflation, interest rates, and consumer confidence are the economic factors that have the most impact on consumer goods demand.
Increased spending will assist businesses in expanding, lowering unemployment, and improving the economy. However, if consumer income falls, spending will most certainly fall as well. As a result, businesses will perform worse, unemployment will rise, and the economy will be less stable.
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What are two primary opportunities in safe for driving relentless improvement?
The two primary opportunities in safe for driving relentless improvement are option A. Iteration Retrospective and option D. Inspect and Adapt workshop. Hence, the correct answers are options A. and D.; Iteration Retrospective and Inspect and Adapt workshop respectively. Read below about Iteration Retrospective.
What is Iteration Retrospective?The Iteration Retrospective is a usual event where Agile Team members debate the results of the Iteration, review their practices, and identify ways to improve. At the end of each iteration, Agile teams that make use of ScrumXP gather for an iteration retrospective.
Therefore, the correct answers are as given above.
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The complete question goes thus:
What are two SAFe primary opportunities for driving relentless improvement? (Choose two)
a) Iteration Retrospective
b) Daily Stand-up
c) Program Backlog Refinement
c) PI Planning
d) Inspect and Adapt workshop
It is certain that the equilibrium price will rise when the supply curve shifts to the _____ and the demand curve shifts to the _____. a. right; left b. left; right c. left; left d. right; right
It is certain that the equilibrium price will rise when the supply curve shifts to the left and the demand curve shifts to the right.
What Is a Supply Curve?
The supply curve is a graphic representation of the correlation between the cost of a good or service and the quantity supplied for a given period. In a typical illustration, the price will appear on the left vertical axis, while the quantity supplied will appear on the horizontal axis.
The Factors Can Affect the Supply Curve:
The supply curve can shift based on several factors including changes in production costs (e.g., raw materials and labor costs), technological progress, the level of competition and number of sellers/producers, and the regulatory & tax environment.
What Is the Demand Curve?The demand curve is the complement to the supply curve, in the law of supply and demand. Unlike the supply curve, the demand curve is downward-sloping, since the higher the price of a good, the less demand there will be for it, all else equal.
The Factors Can Affect the Demand Curve:
Demand is influenced by the amount of disposable income available to consumers along with consumer preferences. The presence of viable substitutes or alternatives can also shift the demand curve.
Therefore, we can conclude that the correct option is B.
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The following units of an item were available for sale during the year: Beginning inventory 21,600 units at $20.00 Sale 14,400 units at $40.00 First purchase 48,000 units at $25.20 Sale 36,000 units at $40.00 Second purchase 45,000 units at $26.40 Sale 33,000 units at $40.00 The firm uses the perpetual inventory system, and there are 31,200 units of the item on hand at the end of the year. What is the total cost of the ending inventory according to (a) FIFO, (b) LIFO
The ending inventory using LIFO is $673,920.
The ending inventory using FIFO is 823,680.
What are the ending inventories?
Ending inventory are the inventories of a company that were left unsold at the end of a business period. In this question, the ending inventory is 33,000.
LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold. Ending inventory would be made up of inventories that were purchased the earliest.
The ending inventory would be taken from the beginning inventory and part of the first purchase.
Ending inventory = (21,600 x 20) + [(31,200 - 21,600) x 25.20]
= 432,000 + 241,920 = $673,920
FIFO means first in, first out. It means that it is the first purchased inventory that is the first to be sold.. Ending inventory would be made up of inventories that were purchased the latest.
The ending inventory would be taken from part of the second purchase.
Ending inventory = 31,200 x 26.40 = 823,680
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