The argument of Adam Smith was that if there was competition, it would allow prices to be kept C. Low.
Who was Adam Smith?He was a leading economist in his day and has been credited with coming up with the Absolute Advantage theory.
He supported competition in the market because he claimed that more suppliers would equal a lower price as they competed for customers.
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Which of these is a consumer right recognized by the United Nations? a. right to equality b. right to openness c. right to education d. right to collaboration Please select the best answer from the choices provided A B C D
Answer:
c. right to education
Explanation:
The United Nations Convention for Contracts on International Sale of Goods (CISG) refers to an international trade agreement for the sales of goods in the international market. The Contracts for the International Sale of Goods (CISG) was adopted at the Vienna Convention in 1980.
The main purpose of the international trade agreement is to eliminate or remove any barrier arising from the various domestic laws put in place by different countries with respect to international sales of goods or products.
Also, the Contracts for the International Sale of Goods (CISG) establishes a set of rules to govern and regulate the making and performance of commercial contacts between a buyer and a seller of goods.
The right to education on a particular goods or service is a consumer right recognized by the United Nations (UN).
Additionally, the international trade agreement has helped to make the international sales of goods to be less cumbersome, unambiguous and mitigated the chances of dispute among countries.
Suppose that each of the only two firms in an industry has the independent choice of advertising its product or not advertising. If neither advertises, each gets $10 million in profit; if both advertise, their profits will be $5 million each; and if one advertises while the other does not, the advertiser gets profit of $15 million and the other gets profit of $2 million. According to game theory, the Nash equilibrium is: Group of answer choices neither will advertise. both will advertise. one will advertise and the other will not. both may or may not advertise.
Answer:
both will advertise.
Explanation:
Game theory looks at the interactions between participants in a competitive game and calculates the best choice for the player.
Dominant strategy is the best option for a player regardless of what the other player is playing.
Nash equilibrium is the best outcome for players where no player has an incentive to change their decisions.
The payoffs of advertising are either 5 or 15.
the payoffs of not advertising are either 10 or 2
the payoffs of advertising is higher than that of not advertising. Thus, the nash equilibrium is for the firms to advertise
Please find attached an image of the payoff matrix
Define what liquidity means by completing the following sentence. Liquidity refers to an asset which can be readily used to pay for current
Answer:
Liabilities
Explanation:
'Liquidity' is described as the 'asset's property of being able to be sold without affecting its value or the degree to which it can be easily converted into cash.' If the liquidity ratio of a company is high, then its ability to pay off its current liabilities is high as well. Therefore, the company can pay off the debtors with immediate effect and thus, it would be able to meet its short-term financial commitments. This is the key reason for people's high investments in the companies having a higher liquidity ratio as they analyze the debt paying capability of the company first.
Greg's team was given the task of updating the company's invoice and billing system. They completed the project ahead of schedule and came in way under budget. As a result, everyone on the team received a bonus. This is an example of a(n) ______ reward.
What is not true regarding tax forms? Multiple Choice The objective of the tax form is to provide information to federal and state tax authorities. Tax forms include: Federal and State income tax returns, Federal Payroll Forms and Federal Form 1099. When preparing tax returns, a company uses different rules from those used to prepare financial statements. When preparing tax returns, a company uses the same rules as those used to prepare financial statements.
Answer:
Explanation:
When preparing tax returns, a company uses different rules from those used to prepare financial statements.
Rudy Company reports gross sales revenue of $5.2 million, net sales revenue of $5 million, and cost of goods sold of $3 million. Rounding to the nearest percent, the company's gross profit ratio would be
Answer:
40 %
Explanation:
Gross Profit ratio = Gross Profit / Net Sales x 100
where,
Gross Profit = Net Sales - Cost of Sales
= $2 million
thus,
Gross Profit ratio = $2 million/ $5 million x 100
= 40 %
The company's gross profit ratio would be 40 %
Mr. Garrett has just entered his MA Initial Coverage Election Period (ICEP). What action could you help him take during this time?
a.
If he has a disability, he must enroll in Original Fee-for-Service Medicare during the MA Initial Coverage Election Period.
b.
He will have a nine month period during which he may enroll in as many Medicare Advantage plans as he chooses, with the last enrollment being the effective one.
c.
He may change or drop MA plans, but may not drop drug coverage.
d.
He will have one opportunity to enroll in a Medicare Advantage plan.
The answer is that "He will have one opportunity to enroll in a Medicare Advantage plan".
It should be noted that the Initial Coverage Election Period (ICEP) simply refers to a period of time which is for three months before the person will be entitled to Medicare Part A.
Since Garrett has just entered his MA Initial Coverage Election Period, he will have one opportunity to enroll in a Medicare Advantage plan.
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"Cory is a salesperson at Bayray Technologies, a company that manufactures laptops and cameras. During a sales presentation for the company's new camera, he states, "Cameras produced by us have the same resolution as the cameras produced by ClarityO, the world's number one camera manufacturer, but at a cheaper price." In this scenario, Cory is using a(n) _____ to describe the product."
Answer:
comparison
Explanation:
Since cory is a sales person at bayray technologies and at the time of sales presentation he stated that the camera resolution of our company should be similar with the Clarity O company but the price are cheaper so here cory is doing the comparison of cameras between his company and with the other company to capture the market share by telling the advantages of his company product
If a buyer's willingness to pay for a new Honda is $30,000 and she is able to actually buy it for $28,000, her consumer surplus is
Answer:
$2,000
Explanation:
Calculation to determine the consumer surplus
Consumer surplus=$30,000-$28,000
Consumer surplus=$2,000
Therefore consumer surplus is $2,000
1. Calculate the current ratio and the acid-test ratio for Queen's Line. (Enter your answers in millions, not in dollars. For example, $5,500,000 should be entered as 5.5.)'
Answer:
0.31
0.27
Explanation:
Here is the full question used in answering this question
Selected financial data regarding current assets and current liabilities for Queen's Line, a competitor in the cruise line industry, is provided: (Enter your answers in millions, not in dollars.)
($ in ,millions)
Current assets:
Cash and cash equivalents $307
Current investments 82
Net receivables 218
Inventory 122
Other current assets 138
Total current assets $867
Current liabilities:
Accounts payable $1,165
Short-term debt 709
Other current liabilities 904
Total current liabilities $2,778
Required:
Calculate the current ratio and the acid-test ratio for Queen's Line
Current ratio is an example of a liquidity ratio. Liquidity ratios measure a firm's ability to honour its short terms obligations. the higher the current ratio, the higher the firm's liquidity and its ability to meet short term obligations
Current ratio = current asset /current liability
867 / 2778 = 0.31
Acid test ratio also known as the quick ratio measure the ability of short term assets to meet current liabilities
Acid test ratio = (current asset - inventory) / current liabilities
(867 - 122) / 2778 = 0.27
Diminishing marginal product suggests that Group of answer choices marginal cost is upward sloping. Adding additional workers will lower total cost. The firm is at full capacity. Additional units of output become less costly as more output is produced.
Answer:
The marginal cost is upward sloping.
Explanation:
This is because the marginal product of labor decreases as additional labor is employed which increases the marginal cost.
what are the main functions of HR department
Answer:
Personnel administration.
Personnel recruitment and selection.
Compensation and incentive management.
Development of a positive work climate.
Employee performance evaluation.
Staff training and development.
Labour relations.
Occupational health and safety.
Explanation:
The functions of a human resources Department are numerous and diverse, as this team is responsible for managing a company's human capital to meet the established business objectives. The personnel department is key in any company, from attracting and retaining talent to guaranteeing the interests and well-being of employees.
________ policies refer to government programs designed to exploit natural comparative advantage by increasing production of a few export goods most closely related to a country's resource base.
Answer:
Primary-export-led development
Explanation:
Primary-export-led development policies refer to government programs designed to exploit natural comparative advantage by increasing production of a few export goods most closely related to a country's resource base.
any factor that determines consumers' willingness and ability to pay for products and services. the money or other considerations exchanged for the ownership or use of a product. the practice of exchanging products and services for other products or services. a judgment by a consumer of the worth and desirability of a product or service relative to substitutes.
Answer:
money or other considerations (including other products and services) exchanged for the ownership or use of a product or service.
Explanation:
THIS IS THE COMPLETE QUESTION BELOW
From a marketing viewpoint price is group of choices;
any factor that determines consumers' willingness and ability to pay for products and services. the money or other considerations exchanged for the ownership or use of a product. the practice of exchanging products and services for other products or services. a judgment by a consumer of the worth and desirability of a product or service relative to substitutes.
EXPLANATION
In marketting, Price can be regarded as cost that is been paid by consumers for a product. There should be linkage of price to the real and perceived value of the product by the Marketers, but there should be consideration about supply costs, competitors' prices as well as seasonal discounts. It should be noted that From a marketing viewpoint price is money or other considerations (including other products and services) exchanged for the ownership or use of a product or service.
When managers analyze a wide variety of internal and external performance metrics in order to set financial and strategic goals, they often turn to a framework known as ______.
Answer:
balance scorecard
Explanation:
A balanced scorecard is a performance metric that are applied for identifying, improvement and the control of the different functions and results of an organization. It mainly deals with the learning & growth, processes of the business, customers and the finance
Also at the same time it analyzes the internal and external performance so that the financial and strategic goals could be set out
Which of the following is not true regarding the purpose of an audit performed on a set of financial statements in accordance with generally accepted auditing standards? Group of answer choices to provide financial statement users with an opinion on whether the financial statements are presented fairly or not to provide users of the financial statements with an opinion on the financial statements to provide financial statement users with an opinion in accordance with the applicable financial reporting framework to provide users of the financial statements with absolute assurance that the financial statements contain no errors in them
Answer:
to provide users of the financial statements with absolute assurance that the financial statements contain no errors in them.
Explanation:
Financial statements can be defined as a document used for the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors by using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP). Some examples of financial statements includes a balance sheet, cash-flow and income statement.
An auditor refers to an authorized individual who review, examine and verify the authenticity and accuracy of business financial records or transactions.
GAAP is an acronym for Generally Accepted Accounting Principles, it was adopted by the U.S. Securities and Exchange Commission (SEC) and is the comprehensive accounting rules and standard used in recording and reporting financial information.
In accordance with generally accepted auditing standards (GAAP), providing users of the financial statements with absolute assurance that the financial statements contain no errors in them is not a purpose of an audit performed on a set of financial statements.
This ultimately implies that, an auditor cannot give a client an absolute assurance that a financial statement wouldn't contain errors in them.
Harold is a sales manager associated with TickTock Watches for the past thirty-five years; he was instrumental in the company's success. As an attempt to dissuade Harold from complete cessation of work, the management of TickTock Watches provided Harold with reduced working hours and offered him the role of a mentor. In this scenario, the arrangement offered to Harold by TickTock Watches is _____. Group of answer choices phased retirement early retirement bridge retirement voluntary retirement
Answer:
phased retirement
Explanation:
From the question, we are informed about Harold who is a sales manager associated with TickTock Watches for the past thirty-five years; he was instrumental in the company's success. As an attempt to dissuade Harold from complete cessation of work, the management of TickTock Watches provided Harold with reduced working hours and offered him the role of a mentor. In this scenario, the arrangement offered to Harold by TickTock Watches is phased retirement. Phased retirement can be regarded as range of employment arrangements that is been put in place, to give room to an employees that are already approaching retirement age so they can continue working in the firm with a reduced workload, so that t the end of the day they can experience a transition from full-time work into what is called full-time retirement. Phased retirement encompass pre-retirement as well as gradual reduction in work hours , it also contains post-retirement as regards pensioners that has wish to remain employed.
The federal government played an important role in assisting the development of industry. True False
Answer:
True
Explanation:
Answer:
true
Explanation:
5. Give an example of 'Post Purchase Behavior being important in the buying
process of an individual buyer.
The correct answer to this open question is the following.
Although there are no options attached we can say the following.
This would be my example of Post Purchase Behavior being important in the buying process of an individual buyer.
When an individual buys a car, the seller usually shows a great attitude to take care of the client, he continually answers questions and facilitates the process. But the deal is done, it seems that the salesman and the company automatically disappear.
Post Purchase Behavior is important in the buying process of an individual buyer because it really shows the interest and the willingness of the company to take care of their clients. Here is when the salesman or the customer care agent follows up and offers the client a series of services or options to make the client feel comfortable and assure him that he did the best purchase.
The customer care agent can frequently call the client or contact him through email, to ask about how he feels with his new car, if he has encountered any problems if the company can be of help, maybe offering the client a "thank you gift" to create a loyalty bond, and more.
encourage outsourcing of production units. protect domestic producers by limiting foreign competition. lower the prices of imported components. tend to benefit consumers and not producers.
Answer:
lower the prices of imported components
Explanation:
In simple words, Job outsourcing allows American businesses to compete more effectively in the international economy. It enables them to advertise to international markets through their abroad operations. They keep labor costs cheap by recruiting in developing countries with poorer living conditions. As a result, the pricing of the items they send back to the United States are lower.
A task force refers to any Question 1 options: informal group that has the same members as the permanent task-oriented group. formal group whose members work permanently and spend most of their time in that team. temporary team formed to solve a problem, realize an opportunity, or design a product or service. formal group whose members must be able to perform all tasks of the team.
Answer: temporary team formed to solve a problem, realize an opportunity, or design a product or service.
Explanation:
A task force is formed for the purpose of finding out how to fix a certain problem or realize a product or service.
Once this problem has been fixed or this good realized, the task force is disbanded because it is a temporary group that has fulfilled its objectives and so no longer has to be in effect. For instance, countries have Cov-id-19 taskforces who help coordinate responses to Corona and they will be disbanded when Corona is gone.
Viral promotion involves: Group of answer choices sending a pre-written set of messages to customers or prospects over time. offering rebates and incentives to customers for adopting a product or service. emphasizing customer retention and satisfaction, rather than a dominant focus on sales transactions. leveraging a firm's customers to promote a product or service. paying celebrities to use a product visibly to lure customers into unwittingly buying the product.
Answer:
leveraging a firm's customers to promote a product or service
Explanation:
Viral promotion is a form of marketing in which a good or service is promoted using a firms' social network,
For example, if a firm is about to launch a new product and it wants to do a viral promotion, it would make use of the firms existing customers to promote the good
The Fed can manipulate the reserve ratio in order to influence the ability of commercial banks to do what
Answer:
loan out money
Explanation:
Reserve ratio is the percentage of deposits that is required of commercial banks to keep as reserves. The lower the ratio, the higher the increase in money supply
If the required reserve ratio is 10% and $100 is deposited, reserves would be $10 and $90 would be lent out
Emphasizing the negative consequences that may occur unless a consumer changes behavior is called ________.
Answer:
a fear appeal
Explanation:
Fear appeal is the strategy that induces fear in an individual with the aim of preventing a particular behaviour.
Usually a risk is presented to person and the consequences of taking a particular action is highlighted.
Fear appeal emphasises the negative aspects of a situation to discourage the participants from acting a particular way.
It is an important tool in malong positive change in an individual's attitudes, intentions, and behaviours.
Which feature of a customer relationship management (CRM) application assists with tasks such as controlling inventory and processing orders
Answer:
knowledge management
Explanation:
A customer relationship management individual user knowledge management component aids with activities like inventory control as well as production process.
Knowledge assets of an institution's knowledge and information being created, shared, used, and managed. It is a multimodal approach to achieving organisational goals via the most effective use of knowledge.
A financial institution near you advertises itself as especially oriented towards educators and teachers. What is the category this institution would most likely fall under
Answer:
Credit union.
Explanation:
A credit union can be defined as a non-profit making financial cooperative that is typically controlled by its members (employees, church groups, labour unions etc) and it is saddled with the responsibility of providing financial services like the traditional banks to employees such as teachers, educators, nurses, etc.
Generally, the profit made from the amount of money that is being deposited by the members of a credit union are usually returned to the members as a form of better interest rates. Some examples of credit unions are SchoolsFirst Credit Union, New York University Federal Credit Union, Consumers Credit Union, etc.
In this scenario, a financial institution advertises itself as especially oriented towards educators and teachers. Thus, the category this institution would most likely fall under is a credit union because it's not run like businesses that is after making profit i.e it's a non-profit business established to assist employees with their finances.
Answer:
Credit union
Explanation:
Credit union is the category this institution would most likely fall under.
Jen's Shampoo decides to decrease the sales price for a bottle of shampoo from $28 to $23. The variable costs decrease from $12 to $8 and the total fixed costs decrease from $30,000 to $18,000. The changes result in the number of units sold declining from 4,375 to 4,300 units. If net income was originally $40,000, how much will net income increase or decrease
Answer:
it increases by 6,500
Explanation:
Shampoo manufacturers understand that consumers have different needs when it comes to what type of shampoo they use, such as for curly hair, two-in-one ease of use, or color protection. Knowing that, shampoo manufacturers have divided the market based on these various needs and developed shampoos to accommodate each group. By doing so, these shampoo manufacturers are involved in
Answer:
market segmentation
Explanation:
Market
People or an organization with needs or wants and the ability and willingness to buy.
Market Segment
A subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs.
Market Segmentation
The process of dividing a market into meaningful, relatively similar, and identifiable segments or groups.
A cost that remains fixed over limited ranges of volumes but changes by a lump sum when volume changes occur outside these limited ranges is called a _____ cost. multiple choice fixed variable mixed step-wise curvilinear
Answer:
Variable cost
Explanation:
because sometimes companies set fixed price to other product
Answer:
Stepwise
Explanation:
The correct choice is stepwise cost.
Siiri invests 10 % in real estate, 40 % in mutual funds, 25 % in government bonds, and 25 % in stocks. what do Siri’s investment demonstrate?
Answer: Asset allocation
Explanation:
Asset allocation refers to the strategy of investing in different types of assets and investment vehicles so that the risks would be balanced by the rewards to be earned so that the investor will benefit.
Asset allocation is usually based on the investor's investment goals and their risk appetite. Those who are more risk tolerant will usually invest more in stocks so Siiri here is most likely risk averse but based on the percentage that went into stocks, they might be more risk neutral.
