Economics teaches you how to think more critically and influence judgments in order to get the best possible conclusion.
Economics has a part in our daily lives. Understanding previous, future, and current models allows us to apply them to society, governments, enterprises, and people.
Economics Assistance gives numerous examples about when economics is used, such as coping with manufactured goods shortages, establishing how prosperity is divided and redistributed throughout society, and evaluating the amount to which the government must engage in the economy utilizing concepts and measurements.
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Absolute advantage is the ability of an individual, firm, or country to produce: A. a certain good at a lower opportunity cost than other producers. B. more of a certain good than other competing producers, given the same number of resources. C. more of a certain good than other competing producers, given more resources. D. a certain good at a lower total cost than other producers.
Answer:
D
Explanation:
Absolute advantage is the ability of an individual, firm, or country to produce B. more of a certain good than other competing producers, given the same number of resources.
The term "absolute advantage" refers to the 'authority or power of an individual, firm, or country to do any economic activity that is more efficient than others. In other words, it is when a particular business is given the opportunity to produce goods more efficiently than others.
In economics, there are two types of advantages- absolute and comparative advantage. Absolute is where an individual firm, company, etc. is given the right to produce a better goods with a lesser labor force. On the other hand, comparative advantage is where the production cost is taken into consideration. This means that an individual firms or nation may be subjected to lower opportunity costs as compared to other producers.The economic concept where production rights are given more to a particular firm or nation or even an individual is referred to as absolute advantage. Thus, the correct answer is option B.
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n a bicycle race with a $5,000 prize for the winner, a cyclist was leading by a significant margin. A spectator at the race was married to the second place rider. Sensing that her husband would not win unless she took action, the spectator drove to a point two miles ahead on the course, scattered several nails in the middle of the course, and then left the area. Soon thereafter, the cyclist approached the area and noticed the nails. He attempted to swerve around the obstruction but a nail punctured his tire. He fell off his bike, suffered significant physical injuries, and was unable to complete the race. If the cyclist sues the spectator, under what theory is the cyclist least likely to recover maximum punitive damages
Answer: intentional infliction of emotional distress.
Explanation:
In order for an individual to be able to make a claim of intentional infliction of emotional distress, it is required that the plaintiff must prove that the defendant intentionally acted recklessly or caused emotional distress to the person. In this case, there no evidence that an emotional distress was suffered.
Therefore, the theory that the cyclist is least likely to recover maximum punitive damages is intentional infliction of emotional distress.
Olivia bought a $1,874 sprinkler system with her credit card. Her credit card has an APR of 10.31%, compounded monthly. She made no other purchases on the card until the sprinkler system was fully paid for, which took four years of identical monthly payments. Over the eight years that Olivia kept the sprinkler system, it used an average of $2.11 in water per week. After eight years, what percentage of the total lifetime cost of the system did the original price make up
Answer:
Percentage of the total lifetime cost of the system that the original price made up = 59.07%
Explanation:
The monthly payments for the sprinkler system can be calculated using the formula for calculating the present value of an ordinary annuity as follows:
PV = P * ((1 - (1 / (1 + r))^n) / r) …………………………………. (1)
Where;
PV = Present value or original price of the sprinkler = $1,874
P = Monthly payment = ?
r = Monthly interest rate = APR / 12 = 10.31% / 12 = 0.1031 / 12 = 0.00859166666666667
n = number of months = number of years of payment * 12 = 4 * 12 = 48
Substitute the values into equation (1) and solve P, we have:
$1,874 = P * ((1 - (1 / (1 + 0.00859166666666667))^48) / 0.00859166666666667)
$1,874 = P * 39.1976732321759
P = $1,874 / 39.1976732321759
P = $47.81
Therefore, we have:
Total payment for the sprinkler = Monthly payments * Number of months = P * n = $47.81 * 48 = $2,294.88
Total cost in water = Cost in water per week * Number of weeks in a year * Number of years that Olivia kept the sprinkler system = $2.11 * 52 * 8 = $877.76
Total lifetime cost of the system = Total payment for the sprinkler + Total cost in water = $2,294.88 + $877.76 = $3,172.64
Percentage of the total lifetime cost of the system that the original price made up = (Original price of the sprinkler / Total lifetime cost of the system) * 100 = ($1,874 / $3,172.64) * 100 = 59.07%
Answer:
B on. edge 2022
Explanation:
(Step by step explanation)
Use the following to answer question 10: Presented below is information related to ABC Corporation: Common Stock, $1 par Paid-in Capital in Excess of Par—Common Stock Preferred 8 1/2% Stock, $50 par Paid-in Capital in Excess of Par—Preferred Stock Retained Earnings Treasury Common Stock (at cost) $3,500,000 550,000 2,000,000 400,000 1,500,000 150,000 10. The total stockholders' equity of ABC Corporation is
Answer:
Explanation:
Calculation to determine what The total stockholders' equity of ABC Corporation is
Using this formula
Total stockholders' equity
=Common Stock+Paid-in Capital in Excess of Par—Preferred Stock + Paid-in Capital in Excess of Par—Common Stock + Preferred Stock, + Retained Earnings -Treasury Common Stock (at cost)
Let plug in the formula
Total stockholders' equity=$3,500,000 + 400,000 + $550,000 + $2,000,000 + $1,500,000 - $150,000
Total stockholders' equity= $7,800,000
Therefore The total stockholders' equity of ABC Corporation is $7,800,000
Amanda, a florist, is the owner of Flush Inc. She receives a mail from Pluto Corp., a manufacturer of foam products, offering a water-soluble foam brick frequently used for arranging fresh flowers. According to the offer, if Amanda places an order with Pluto, she would be automatically registered to win $10,000 in a customer appreciation contest. This is an example of combining direct marketing with
Answer:
Sales promotion
Explanation:
From the question we are informed about Amanda, a florist, is the owner of Flush Inc. She receives a mail from Pluto Corp., a manufacturer of foam products, offering a water-soluble foam brick frequently used for arranging fresh flowers. According to the offer, if Amanda places an order with Pluto, she would be automatically registered to win $10,000 in a customer appreciation contest. This is an example of combining direct marketing with Sales promotion.
Direct marketing can be regarded as any marketing which is based on
direct communication as well as direct distribution of products to individual consumers, it's not carried it with help of third party like social media, texting campaigns or mass media.
Sales promotion can be regarded as a process involving persuasion of a potential customer so they can buy a product. Sales promotion is a technique suitable to be used in short-term tactic so that sales can be boosted, and usually target at consumers.
How does microfinance benefit the global economy?
positive factors of bangladesh trading with united states
Answer: Increased revenues, benefitting from currency exchange
Explanation:
There benefits doing international trade. One of the the things that helps the economy of a nation is how well it does trade it's resources to other nations. Some of the benefits of Bangladesh trading with united states is that it increase the revenue of Bangladesh, and improves if the trade are more. Secondly, they benefit from the currency exchange rates. The United States has one of the best rates when we talk of currencies, and those trading with them will improve their local currencies too.
Disintermediation involves ______. Multiple choice question. professionally managed and centrally coordinated channels designed to achieve economies and maximize impact one firm's marketing channel being used to sell another firm's products a contractual arrangement between a parent company and another entity that is allowed to operate a business under an established name a channel member bypassing another member to sell or buy product directly
Answer:
a channel member bypassing another member to sell or buy product directly.
Explanation:
A marketing channel can be defined as the process of developing marketing techniques and sales strategies by a firm, so as to enhance the availability of goods and services to meet the needs of the end users or consumers. There are four (4) main types of marketing channels;
1. Direct selling.
2. Dual distribution.
3. Reverse channel.
4. Sales through intermediaries.
The marketing intermediaries consist of retailers, wholesalers, agents or brokers, franchises, and distributors or dealers in the supply of goods and services to the customers.
The three (3) main functions of the intermediaries includes;
I. Logistical function: it involves assortment, sorting, storing and transportation of goods.
II. Transactional function: it involves an intermediary buying, selling and taking risks with respect to goods and services.
III. Facilitating function: it involves financing, marketing, grading and conducting research on a product or service.
Disintermediation can be defined as a strategic process which typically involves cutting out or isolating one or more intermediary (middleman) such as retailers, wholesalers, banks, agents (brokers), franchises, distributors (dealers) and other third parties from a supply chain, decision-making process, or business transactions.
This ultimately implies that, disintermediation involves a channel member bypassing another member to sell or buy product directly.
steps to follow when doing production process
Answer:
Development
Pre-production
Production
Post-production
Distribution
DeWitt Industries has adopted the following production budget for the first 4 months of 2017. Month Units Month Units January 10,440 March 5,190 February 8,240 April 4,120 Each unit requires 3 pounds of raw materials costing $2 per pound. On December 31, 2016, the ending raw materials inventory was 9,500 pounds. Management wants to have a raw materials inventory at the end of the month equal to 20% of next month’s production requirements. Prepare a direct materials purchases budget by month for the first quarter.
Answer:
DeWitt Industries
Materials Purchase Budget for the first quarter:
January February March
Ending inventory 1,648 1,038 824
Production
requirements 31,320 24,720 15,570
Beginning inventory 9,500 1,648 1,038
Purchases (pounds) 21,820 23,072 14,532
Explanation:
a) Data and Calculations:
Production Budget
Month Units
January 10,440
February 8,240
March 5,190
April 4,120
January February March April
Production Units 10,440 8,240 5,190 4,120
Production
requirements 31,320 24,720 15,570 12,360
Materials Purchase Budget
January February March April
Ending inventory 1,648 1,038 824
Production
requirements 31,320 24,720 15,570 12,360
Beginning inventory 9,500 1,648 1,038 824
Purchases (pounds) 21,820 23,072 14,532 11,536
In classifying the kinds of projects an organization has in its portfolio, projects that are typically those needed to meet regulatory conditions required to operate in a region are ___________ projects. Multiple Choice Conformance Compliance (must do) Operational Sacred cow Strategic
Answer:
complicances
Explanation:
Consider industries X and Y. Industry X has total revenue of $100 million and total costs of $77 million. Industry Y has total revenue of $80 million and total costs of $40 million. We should expect that:
A. resources will move from Industry Y to Industry X.
B. prices are higher in Industry X.
C. labor and capital will move from Industry X to Industry Y.
D. firms in both industries will shut down operations.
Answer:
C
Explanation:
Profit = total revenue - total cost
Industry X : profit = $100 million - $77 million = $23 million
Industry Y : profit = $80 million - 40 million = $40 million.
Industry Y is more profitable than industry X, thus, there would be a move of resources from Industry X to Industry Y.
Draw a market supply and demand curve representing a state with no restrictions on who can conduct the real estate closing transaction.
Answer:
attached below
Explanation:
Supply and demand curves are used to represent the relationship between the two main forces of the open market ( demand and supply )
with no restriction on who can conduct real estate closing transaction, when the demand curve shifts to the right there will be no change with the supply curve. but the price will move from P1 to P2 and quantity will move from Q1 to Q2.
The profit earned from the sale of stock that has increased in value is known as
Question 4 options:
A: a stock exchange.
B: speculation.
C: a capital gain.
D: a dividend.
Answer:
a capital gain . that is c
Honi is not a resident of Iowa although her website can be accessed by residents of that state. Jean files a suit against Honi in an Iowa state court. The court is most likely to have jurisdiction over Honi if Jean's claim arises from Group of answer choices the Internet's capacity to bypass boundaries. minimum contacts between Honi and any Iowa resident. substantial business between Jean and Honi through Honi's website. passive advertising on Honi's website.
Answer:
substantial business between Jean and Honi through Honi's website.
Explanation:
Jurisdiction of a court is the limit of its authority in in various proceedings such as cases, appeals, suits, and so on.
Normally state courts have jurisdiction when transactions occurred physically within the state.
However in this scenario where Honi's website can be accessed by residents of that state, a suit can be brought against her if there is substantial business between Jean and Honi through Honi's website.
Tetradic Solutions has been making purchases from Ribbon, Inc., for the last three years. Every three months, it makes the same order of 5,000 ml of Ribbon, Inc.'s, secret compound used in Tetradic's lotion line. Recently, Tetradic has seen a downturn in demand and needs to alter its usual order from 5,000 to 3,500 and hopefully reduce the price per ml. What BEST describes Tetradic's situation
Answer: modified rebuy
Explanation:
Tetradic's situation can be defined as the modified rebuy. Modified Rebuy refers to a purchasing situation whereby an individual or organization buys goods that they've bought before but then changes the supplier or some elements in the previous order.
Based on the question given, Tetradic Solutions alters his purchase as the order was modified. In modified rebuy, the specifications of the product, prices, and suppliers can be changed as well.
An organization has experienced significant turnover among its creative writers. During exit interviews, the writers have expressed dissatisfaction with rigid starting times, a lack of recognition for their work, and poor communication between managers and employees. How should the organization incorporate the social well-being aspect in its action plan to address the issue?
Answer:
Establish a work/life program that allows flexibility.
Explanation:
In the case when there is the exit interviews so the writer would shows the dissatisfaction also there is less recognition towards the work and the poor communication between the managers and employees
So the organization should incorporate the social well being in a way where it created the work or life program that permits the flexibility
So as per the given situation, the above statement should be the answer
Managers should not become complacent about efficiency-based cost advantages because: a. both learning effects and economics of scale go on forever. b. the experience curve will bottom out at some point. c. cost advantages gained from experience effects are not affected by the development of new technologies. d. unit costs keep reducing as output increases. e. the experience curve steadily rises after a certain threshold is reached, indicating an increase in unit costs.
Answer:
b. the experience curve will bottom out at some point.
Explanation:
In the case when the manager could not become complacent regarding the advantage of efficiency based cost so here the experience curve should be end up at some point of time as the experience curve shows the relationship between the production quantity in cumulative one with the production cost
Therefore the option b is correct
Years ago, the travel industry was controlled by a few large travel companies that booked holidays, air tickets, bus tickets, and hotels for their customers. However, with the emergence of the internet, smaller travel agencies started mushrooming in the industry and customers started making their own reservations. Which of the following can be inferred from this information?
A. The travel industry changed from a consolidated structure to a fragmented one.
B. The structure of the travel industry changed from monopolistic competition to an oligopolistic one.
C. The pricing power of the incumbent firms in the travel industry has increased.
D. The bargaining power of buyers in the travel industry has decreased.
Answer:
A. The travel industry changed from a consolidated structure to a fragmented one.
Explanation:
In the given passage, the speaker talks of the change in the way travels are managed. Initially, few large travel agencies took control of the way travel is arranged, from booking tickets to managing hotel rooms.
But as the internet grew and many people are able to access it, travels, accommodations, etc. are being managed by the individuals themselves or even smaller travel agencies are able to do the work without the need for such large companies to be involved.
This shows that the travel industry changed from a consolidated, large companies structure to a fragmented one, that of smaller agencies and even individuals themselves.
Thus, the correct answer is option A.
The free-rider problem arises when an individual ____________. A. does not pay for a good because that individual is engaging in illegal activity. B. pays for a good only when being monitored by the authorities for noncompliance. C. does not pay for a good because nonpayment does not prevent consumption. D. pays for a good only when he or she is in the top quartile of people needing the good.
The free-rider problem arises when an individual [C] does not pay for a good because nonpayment does not prevent consumption.
State the type of skewness for a frequency distribution whose three quartiles are 21, 18 and 20.
Answer:
Left skew
Explanation:
Given the quartiles of a distribution :
21, 18 and 20
Lower quartile, Q1 = 18
Median, Q2 = 20
Upper quartile, Q3 = 21
Representing the quartiles of the distribution as box plot, we can see that the median, Q2 is much closer to the third quartile, Q3, Than it is to the first quartile, Q1. Hence, we have a left skew or a negatively skewed distribution.
291. Much of the hope for continued improvement of the economy lies in the projection of increasing consumer spending this year. . A. projection of increasing consumer spending B. projection of consumers increasing spending for C. projected consumer spending increase 37 D. consumer spending that is projected to increase E. increase in consumer spending that is projected for
Answer:
The correct answer is E:
Much of the hope for continued improvement of the economy lies in the increase in consumer spending that is projected for.
Explanation:
i. Much of the hope (this is the main Subject of the conversation)
ii. for continued improvement (this is the Prepositional phrase. It modifies the noun “hope”)
iii. of the economy (this is a Prepositional phrase – it modifies the noun “improvement”)
iv. lies in the projection (This is the main Verb – “lies”)
v. of increasing consumer spending this year. (This is the prepositional phrase. It modifies the noun “projection”)
At first glance, it would appear that the positive experience that is anticipated is the projection.
A projection (unqualified) in this case is an estimate of how a thing will be in the future.
Having stated this, we see that it is more logical to hope for a positive experience that will occur than to just hope. Hence the hope is really in the increase in consumer spending not in the projection as a separate word.
(E) therefore is the Correct option because in this option that in this option “that” modifies “increase”.
Cheers
When Reba lists the Chandlers’ home in the MLS, she will categorize it as a ______. a. Retro-commissioned structure b. Townhome c. Converted structure d. Single-family home 2. If the Chandlers sell the home at this time, is it likely that they will have a capital gains tax obligation? a. Yes, if they sell the home for more than $500,000. b. Yes, if they sell the home for a net capital gain. c. No, as long as the gain does not exceed $500,000, assuming that they are filing a joint return. d. No, because the sale of a primary residence is not subject to capital gains tax. Chapter 4 Home Ownership
When Reba lists the Chandlers’ home in the MLS, she will categorize it as a townhome.
If the Chandlers sell the home at this time, is it likely that they will have a capital gains tax obligation? No, as long as the gain does not exceed $500,000, assuming that they are filing a joint return.
Zero Corp. is an investment company authorized to issue only common stock. During the last half of the year, Edwards and four other individuals owned 450 of the 1,000 outstanding shares of stock in Zero. Another 350 shares of stock outstanding were owned, 10 shares each, by 35 shareholders who are neither related to each other nor to Edwards. Zero could be a personal holding company if the remaining 200 shares of common stock were owned by:
Answer:
Fifty-five shareholders who are related neither to each other nor to Edward, in equal lots of 10 shares each
Explanation:
100% correct
What is the new law the American government enacted for promoting small businesses in the country?
O The Small Businesses Act of 1954.
O The Small Businesses Act of 1953.
O The Small Businesses Act of 1955.
O The Small Businesses Act of 1958.
Answer:
The Small Businesses Act of 1953.
Explanation:
In the United States of America, majority of the competitive landscape or business environment is made up of small business enterprise.
The Small Business Administration (SBA) is an agency of the federal government that is saddled with the responsibility of providing both managerial and financial assistance to small businesses in the United States of America.
The Small Businesses Act of 1953 was enacted as an Act of Congress on the 30th of July, 1953 by the Congress of the United States of America to create the Small Business Administration (SBA).
Hence, SBA was established in 1953 as an autonomous (independent) agency of the government of the United States of America to aid, counsel, assist and protect American entrepreneurs and to preserve small business institutions.
Generally, it is saddled with the responsibility of providing both managerial and financial assistance and counseling to small businesses in order to bolster the American economy.
The small business administration (SBA) serves as an intermediary between entrepreneurs and investors or creditors, so as to provide them with the necessary funds required to plan, start and grow their business.
Basically, SBA provides services such as entrepreneurial development, access to funds, advocacy and contracting to small businesses (entrepreneurs) in the United States of America.
In conclusion, the Small Businesses Act of 1953 was the new law the American government enacted for promoting small businesses in the country.
HELP PLS
A construction company in a small town needs to hire workers to build a new community center. There are only 4 people in town who are qualified to work:
- Klara works full-time at the local gas station, earning $8.99 per hour
- Henry works full-time as an administrative assistant at the town hall, earning $19.99 per hour
- Alex works four hours a day mowing lawns, earning $11.99 per hour, and another four hours a day cleaning houses, earning $17.99 per hour
- Melody works full-time at a bank in the next town earning $22.99 per hour
What hourly wage must the construction company offer to get enough workers to fill 30 hours per day? Assume your answer is in dollars per hour and enter a numeric value only.
Answer:
$23
Explanation:
History of Stock Exchange in India
Answer:
The first organised stock exchange in India was started in 1875 at Bombay and it is stated to be the oldest in Asia. In 1894 the Ahmedabad Stock Exchange was started to facilitate dealings in the shares of textile mills there. The Calcutta stock exchange was started in 1908 to provide a market for shares of plantations and jute mills.
Then the madras stock exchange was started in 1920. At present there are 24 stock exchanges in the country, 21 of them being regional ones with allotted areas. Two others set up in the reform era, viz., the National Stock Exchange (NSE) and Over the Counter Exchange of India (OICEI), have mandate to have nation-wise trading.
They are located at Ahmedabad, Vadodara, Bangalore, Bhubaneswar, Mumbai, Kolkata, Kochi, Coimbatore, Delhi, Guwahati, Hyderabad, Indore, Jaipur’ Kanpur, Ludhiana, Chennai Mangalore, Meerut, Patna, Pune, Rajkot.
The Stock Exchanges are being administered by their governing boards and executive chiefs. Policies relating to their regulation and control are laid down by the Ministry of Finance. Government also Constituted Securities and Exchange Board of India (SEBI) in April 1988 for orderly development and regulation of securities industry and stock exchanges.
which statement best illustrates the relationship between three different elements of the circular flow of products
Answer:
C. Businesses create goods for product markets, which sell them directly to households.
Explanation:
Circular flow model is an economic model that is used by economists to show or demonstrate how money, goods and services move from one economic agent to another such as producer, workers, wholesaler, retailer and consumers (households).
Basically, the three (3) elements of the circular flow model of products are;
I. Business firms (producers).
II. Product market (wholesalers and retailers).
III. Households (consumers).
According to the circular flow model of products, businesses play a role in the circular flow of products (goods) by creating goods that households or consumers want to buy. These goods are produced to meet the needs or wants of customers (households) and as such making them willing to buy it.
This ultimately implies that, the cardinal point or reason for which businesses engage in the manufacturing of goods and services is to supply the product markets, which sells them to consumers in order to meet their demands.
In conclusion, the statement which best illustrates the relationship between the three (3) different elements of the circular flow of products is that, businesses create goods for product markets, which sell them directly to households.
Answer:
resource markets sell materials sell materials to businesses which use them to make goods sold to households
Explanation:
I just took the test
Please I need help!!
Answer:
A
Explanation:
Porter's study identified components of the German textile and apparel sector: cotton, wool, synthetic fibers, sewing machine needles, and textile machinery. These were all successful industries in a single country that grouped into related industries. This grouping is an example of a(n)ples of basic factors of production as identified by Porter
Answer:
cluster
Explanation:
From the question we are informed about Porter's study which identified components of the German textile and apparel sector: cotton, wool, synthetic fibers, sewing machine needles, and textile machinery. These were all successful industries in a single country that grouped into related industries. This grouping is an example of cluster of basic factors of production as identified by Porter.
Factors of production can be regarded as resources which are been considered as the building blocks of an economy, they are the inputs that are used in the production of goods as well as services. It can be divided into categories by Economists; these are
✓capital
✓land
✓ labor
✓entrepreneurship.
