Answer:
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Explanation:
Human resources development is important because it is an investment in one's employees that will ultimately result in a stronger and more effectiv
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A wedding party hired a sole proprietorship to cater their wedding. In this situation, the sole proprietorship is a corporation and the employee who handled the job is a partner. If the sole proprietorship is a corporation and its employee poisons the cake, the corporation's board of directors would not be liable.
false
true
Sensitivity analysis is concerned with determining how much variation in financial data, the decision maker can have to affect the economic decision.
A. True
B. False
What is the key to economics? Explain.
Answer:
At the most basic level, economics attempts to explain how and why we make the purchasing choices we do.
Explanation:
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Answer:
Four key economic concepts—scarcity, supply and demand, costs and benefits, and incentives
Explanation:
Scarcity explains the basic economic problem that the world has limited—or scarce—resources to meet seemingly unlimited wants, and this reality forces people to make decisions about how to allocate resources in the most efficient way.
As a result of scarce resources, humans are constantly making choices that are determined by their costs and benefits and the incentives offered by different courses
For example, there is only so much wheat grown every year. Some people want bread and some would prefer beer. Only so much of a given good can be made because of the scarcity of wheat. How do we decide how much flour should be made for bread and beer? One way to solve this problem is a market system driven by supply and demand.
Supply and Demand
A market system is driven by supply and demand. Taking the example of beer, if many people want to buy beer, the demand for beer is considered high. As a result, you can charge more for beer and make more money on average by using wheat to make beer than by using wheat to make flour.
Hypothetically, this could lead to a situation where more people start making beer and, after a few production cycles, there is so much beer on the market—the supply of beer increases—that the price of beer drops.
Costs and Benefits
The concept of costs and benefits is related to the theory of rational choice (and rational expectations) that economics is based on. When economists say that people behave rationally, they mean that people try to maximize the ratio of benefits to costs in their decisions.
If demand for beer is high, breweries will hire more employees to make more beer, but only if the price of beer and the amount of beer they are selling justify the additional costs of their salary and the materials needed to brew more beer. Similarly, the consumer will buy the best beer they can afford to purchase, but not, perhaps, the best-tasting beer in the store.
Everything Is in the Incentives
If you are a parent, a boss, a teacher, or anyone with the responsibility of oversight, you've probably been in the situation of offering a reward—or incentive—in order to increase the likelihood of a particular outcome.
Economic incentives explain how the operation of supply and demand encourage producers to supply the goods that consumers want, and consumers to conserve on scarce resources. When consumer demand for a good increases, then the market price of the good rises, and producers have an incentive to produce more of the good because they can receive a higher price. ON the other hand, when the increasing scarcity of raw materials or inputs for a given good drive costs up and producers to cut back on supply, then the price they charge for he good rises, and consumers have an incentive to conserve on their consumption of that good and reserve it's use for their most highly valued uses.
In the example of a brewery, the owner wants to increase production so they decide to offer an incentive–a bonus–to the shift that produces the most bottles of beer in a day. The brewery has two sizes of bottles: one 500 milliliter bottle and a one-liter bottle. Within a couple of days, they see production numbers shoot up from 10,000 to 15,000 bottles per day. The problem is that the incentive they provided focused on the wrong thing—the number of bottles rather than the volume of beer. They begin receiving calls from suppliers wondering when orders of the one-liter bottles are going to come. By offering a bonus for the number of bottles produced, the owner made it beneficial for the competing shifts to gain an advantage by only bottling the smaller bottles.
You are the sales manager for a company that sells many types and sizes of rock and gravel to construction, landscaping, and retail clients. Because the profit margins are razor-thin, you need to ensure that you are getting the very best prices from the quarries. When reviewing the quarterly profit statement, you realize that your costs are higher than they should be, and you trace the higher costs back to an employee who has been lax about getting competitive bids to ensure the lowest prices. To enact the controlling management function, what would you do next?
Answer:
Redirect the strategic goals of the business to begin selling power tools
Explanation:
We must make an inspiring message to inspire the workforce to enhance her efforts throughout the comparative offering procedure to perform the controlling managerial functions.
To inspire staff to enhance efforts to make competitive tenders need, according to my view, be accomplished as more than just a consequence of financial outcome since the profitability is small. It must be based on slack perceptions of workers.Management seems to have the obligation to encourage workers, to somehow be actively involved, and to recognize the significance of competitiveness offering.
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When several parties or individuals can reach similar values in financial statements by using similar methods, the information is said to be: Multiple Choice comparable. understandable. verifiable. timely.
When several parties reach similar values in financial statements then the information is said to be comparable.
When two or more companies use same methods of accounting then their values and financial figures can be comparable.
There are accounting standards which provides a base for the accounting treatment for transactions.
There can be analysis if their performance based on their financial figures.
The correct answer is a. Comparable
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Normally, if interest rates rise, the value of Master Limited Partnership (MLP) units will also rise in value.
a. True
b. False
Barbara, a change manager , has political skills, she has built a range of relationships across and outside the organization. These characteristics of Barbara are an example of ____________ dimension political skill.
a. networking ability
b. apparent sincerity
c. interpersonal influence
d. social astuteness
