Answer: Efficiency.
Explanation:
An economy is said to be efficient if the economy is able to make the best use of the available resources found in that economy, in meeting the needs of consumers within the economy and even exporting to consumers found in other economies.
An economy that maximizes its scarce resources and can deliver the right goods in the right quantity to the right people at the right price has achieved:
a. Efficiency
An economy aims to manage its resources in such a way that it can produce the maximum possible output with the minimum input or cost. When an economy can effectively allocate its resources to produce the right goods in the right quantity and deliver them to the right people at the right price, it is said to be operating efficiently.
Efficiency is about optimal use of resources. In an efficient economy, resources are not wasted. Instead, they are used in a way that maximizes the benefit to society. If resources are allocated in a manner where no one can be made better off without making someone else worse off, then we have reached a point known as Pareto efficiency.
In the context of the options given:
- b. Freedom generally refers to the level of autonomy and choice that consumers and producers have in the marketplace.
- c. Security typically pertains to the stability of the economy, including factors like job security and safety nets for the vulnerable.
- d. Equity is about fairness in the distribution of resources and wealth.
Given the description provided in the question, the best match is:
a. Efficiency, which encompasses the optimal use of scarce resources and the delivery of goods in the most effective manner.
When discussing economic concepts, understanding the clear distinctions between terms ensures readability and clarity for readers, especially those researching for educational or informational purposes.
Assume that the plaintiff was 60 percent responsible for his own injuries. He would be able to recover the 40 percent of his injuries caused by the negligent defendant if the state that hears the case follows the doctrine of _________ negligence.a. Contributory b. Modified comparative faultc. Pure comparative fault d. Situs
Answer:
The correct answer is the option C: Pure comparative fault.
Explanation:
To begin with, Comparative Negligence is an approach of the Contributory Negligence that is adopted nowadays by most of the states and that focuses in the amount of fault of each party when it comes to determines who's negligence was the one that caused the injuries. Moreover, this type of approach has two other more different approaches, that are pure comparative and modified comparative.
To continue, ''pure comparative negligence'' allows parties to collect for damages even when they are more than 50 percent responsible for the injury, however the amount of damages is limited by the party's actual degree of fault. Meanwhile the modifed comparative negligence only recognizes the recover of the damages when they are less than the 50 percent responsible of the injury. That is why if the state that hears the case follows the doctrine of the pure comparative negligence then the plaintiff will be able to recover the 40 percent of the injuries by the negligent defendant, even thought if he was 60 percent responsible.
Juan, an operations manager, has been assigned to train a group of older employees in the logistics department. He has to train them to use new computer software. He begins by reminding them that they were quick in learning the old software. Juan is trying to _____.
Answer:
Increase the employee efficacy
Explanation:
Juan the operations manager is trying to boost the efficacy and confidence of the employee. By reminding them of how they easily learnt the old software, their minds visualise the previous success and this motivates them to also learn this new computer software fast.
When they believe they have learnt efficiently in the past they have a drive to do so again.
Automated retailing:
is most effective in high-traffic areas.
promotes products through infomercials.
uses a master distributor as lead salesperson.
is based on the idea that social relationships influence buying habits.
is a recruiting tool for multilevel networks.
Answer:
is most effective in high-traffic areas.
Explanation:
While automated sales have been present for decades in the form of vending machines, recently there has been an exponential growth of stores without personnel and automated, which invest in new technologies (sensors, facial recognition, Artificial Intelligence (AI) and new media payment) to expand the concept to a physical space solving the limitations of vending. Worker-free stores are becoming a global reality with China at the helm. Most of these stores are being tested by large companies capable of absorbing large R&D costs in order to implement them on a large scale, which is why the greatest application is given to high-traffic geographic regions of this type of purchases.
a courier picks up 1000 small unmarked bills, some $20 bills and some $50 bills. The total value is $41,000. How many of each bill are there?
Answer:
Explanation:
The amount of bills are 1000
Let the number of $20 bills be x
Let the number of $50 bills be y
Using a ratio method, we assume that the ration of the bills are 20:50
Adding both ratios, we have 20 + 50 = 70.
To find x, we have
(20 ÷ 70) × 1000
0.286 x 1000
286 bills
To find y, we have
(50 ÷ 70) × 1000
0.714 x 1000
714 bills
Having calculated the number of bills for $20 and $50, we calculate the value of each bills.
we have, 286 x $20 = $5,720
714 x $50 = $35,700
Adding these above amounts, we have
$5,720 + $35,700 = $41, 420 which is approximately $41,000.
Cheers.
Which of the following are useful when planning a schedule (select multiple)?
1. Knowing your short term goals
2. Knowing your long term goals
3. Knowing the place where you will do the work
4. Knowing which other responsibilities are important
5. Knowing how much time you have for the goals
6. Knowing which subject you need to study first
7. Knowing how many subjects you need to study
Answer:
All of the above
Explanation:
A schedule is a time management tool which contains an arrangement of time and corresponding tasks which is aimed towards achieving a goal. A schedule can also be called a timetable. A schedule can be daily, weekly, monthly, etc
In a schedule, events are arranged with priority for and in an order that states what is meant to be done at a certain time.
To successfully plan a schedule, all of the options in the question are important. They can be rearranged as 7,6,5,4,3,1,2.
When all of these scheduling priorities are put in place, a schedule is sure to be well planned.
I hope this helps.
"Assume the original facts except that Kano and Hoshi separated in May of the current year. What is Kano’s filing status?" "Kano and his wife, Hoshi, have been married for 10 years and have two children under the age of 12. The couple has been living apart for the last two years and both children live with Kano. Kano has provided all the means necessary to support himself and his children. Kano and Hoshi do not file a joint return."a) What is Kano’s filing status?b) Assume the original facts except that Kano and Hoshi separated in May of the current year. What is Kano’s filing status?c) Assume the original facts except that Kano and Hoshi separated in November of this year. What is Kano’s filing status?d) Assume the original facts except that Kano’s parents, not Kano, paid more than half of the cost of maintaining the home in which Kano and his children live. What is Kano’s filing status?
Answer:
a. HOH- under abandoned spouse
b. HOH
c. Married filed separately
d. Married filed separately
1) For the original situation with the couple living apart for the last two years, the children living with Kano and him providing full support, Kano's tax filing status can be considered as 'Head of Household'.
2) If Kano and Hoshi separated in May of the current year, Kano's filing status would likely still be 'Head of Household'.
3) If they separated in November, it's likely that Kano's filing status would be considered 'Married Filing Separately' for the current year.
4) If Kano’s parents paid more than half of the cost of the home, then he may not meet the requirements to file as 'Head of Household' and his filing status could change to 'Single' or 'Married Filing Separately'.
Kano's filing status for taxes depends on several factors including the living arrangements, the support for the children and who bears the expenses of maintaining the home. In most cases, he would be 'Head of Household' but certain changes, like separation time, or if his parents provide the majority financial support for the home, can change his status.
Based on the given scenarios, Kano’s filing status may change.
For the original situation with the couple living apart for the last two years, the children living with Kano and him providing full support, Kano's filing status can be considered as 'Head of Household', provided he meets the other necessary tax criteria. In the scenario where Kano and Hoshi separated in May of the current year, Kano's filing status would likely still be 'Head of Household' if he continues to provide more than half the cost of maintaining the home and caring for his children.If they get separated in November, it's likely that Kano's filing status would be considered 'Married Filing Separately' for the current year. In the final situation where Kano’s parents, not Kano, paid more than half of the cost of the home, Kano may not meet the requirements to file as 'Head of Household' and his filing status could change to 'Single' or 'Married Filing Separately'.Learn more about Tax Filing Status here:
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Comprehensive income would be found in which financial statement? a. Income Statement b. Statement of Stockholders Equity c. Cash Flow Statement d. Balance Sheet
Answer:
a. Income Statement
Explanation:
Statement of Comprehensive income compromise on Income Statement and Other Comprehensive Income. other Comprehensive Income starts from the after Net Income of the year. Comprehensive Income is the net income and all unrealized income such as gains / losses on hedge/derivatives and foreign currency etc. It deals with all the historical incomes which are not dealt in the Income statement.
Entrepreneurs, investors, and savers need ________ to save and invest in physical capital, human capital, innovation, and efficient organization.
Answer:
Incentives
Explanation:
The purpose behind any saving and investment is to earn a return or in short make the money grow.
Incentives refer to a form of motivation which is usually expressed in monetary terms.
The incentive for an entrepreneur is profit, for investors it could be in the form of interests and dividends or capital appreciation and for savers it could be in the form of interest income.
Incentives serve as the driving force behind any form of savings or investments.
Unilever discovered that people in emerging economies could not afford to buy standard sizes of toothpaste or shampoo, so Unilever started selling single-serve packets at very low prices. Later, Unilever discovered that the same approach worked in the United States and started also selling them there. This is an example of ________.a. reverse innovation.
b. ethnic sensitivity.
c. promotional flex.
d. unethical marketing practices.
e. glocalization.
Answer: Reverse Innovation.
Explanation:
Reverse Innovation is been used by Unilever company in making products for developed markets. Reverse Innovation involves introducing a new product to a developing market and if it succeeds in that market, the same product is then introduced to a developed market.
Final answer:
Unilever's adaptation of selling single-serve packets at low prices from emerging economies to the U.S. exemplifies reverse innovation, showcasing product development flexibility and market adaptability.
Explanation:
Unilever's strategy of selling single-serve packets at very low prices in emerging economies and later in the United States is an excellent example of reverse innovation. Reverse innovation involves developing products in emerging or developing markets and then adapting and adopting them for more developed or affluent markets. This approach allows companies like Unilever to test products in cost-sensitive markets before introducing them to more diverse consumer bases, ensuring adaptability and broad appeal across various socioeconomic segments.
A PI team role primarily responsible for ensuring that an effective performance improvement process occurs by serving as advisor and consultant to the PI team, remaining a neutral, nonvoting member, suggesting alternative PI methods and techniques to keep the team on target and moving forward, maintaining group dynamics, acting as coach and motivator for the team, assisting in consensus building when necessary, and recognizing team and individual achievements is the________________.
Answer:
team facilitator
Explanation:
A team facilitator refers to someone who participates in cooperation— any action that encourages or simplifies a social process. A facilitator frequently helps a group of individuals comprehend their shared goals and enables them schedule how to accomplish that goal; by doing so, the facilitator continues to remain "unbiased," which means he / she may not take a specific position in the conversation.
Some facilitator instruments will attempt to help the group in reaching consensus on any disputes pre-existing or emerging in the gathering so it has a strong foundation for future motion.
The distribution of hourly sales for a local family owned store is normally distributed with a mean of $225 per hour and a standard deviation of $75 per hour. Which of the following intervals contains the middle 95% of hourly sales
Answer:
The standard deviation of 75 dollars
Explanation:
Standard deviation, S.D.= 75 dollars; Mean, M= 225 dollars; Mean deviation, D= ?
S.D. = √ D² - M
∴ 75 = √ D² - 225
D² = 75² - 225 = 5625 + 225 = 5950
∴ D = √5950 = 24.4 dollars
From the above, it shows that, the standard deviation of 75 dollars contains the middle 95 percent of hourly sales.
The interval which contains the middle 95% of hourly sales computed using the empirical relation principle for a normal distribution is $75 to $375
The middle 95% can be interpreted using the empirical relation as being 2 standard deviations from the mean.
Given the Parameters :
Mean, μ = $225 Standard deviation, σ = $75The middle 95% equals 2σ from the mean :
Hence, the sales interval can be written as :
μ-2σ to 2σ+μμ-2σ = $225 - (2 × 75) = $225 - $150 = $752σ+μ = (2 × $75) + $225 = $150 + $225 = $375Therefore, the interval which contains the middle 95% of hourly sales is $75 to $375
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What do Keynesians mean when they say that "you can't push on a string"?
a. An increase in the supply of goods does not really create its own demand.
b. If the government reduces taxes in an attempt to increase household consumption, it will not always work.
c. An increase in the money supply will not always stimulate the economy.
d. If the government wants to get something done, the best way is not to force the issue, but to offer incentives.
e. If the government puts too much expansionary pressure on the economy, it will probably "overheat."
Answer:
c. An increase in the money supply will not always stimulate the economy.
Explanation:
The central bank with a series of bad policies or with the intention to do it, it can slow down the economy or generate a recession by changing interest rates, money supply and other instrument.
But, it cannot stimulate "push" the ecnomy with the same instrument or measure it used to slow dowm (interest rate and money supply)
Thus, making the central bank ineffective to drive the economy out of a recesssion.
An outward shift of __________.a. a nation's production possibilities frontier represents economic growth. b. a situation in which a country produces more of one good and less of another. c. rising prices of the two goods on the production possibilities frontier model. d. an impossible situation.
Answer:
A. a nation's production possibilities frontier represents economic growth
Explanation:
A production possibilities frontier shows the idea that in a given economy, factors of production such as land and capital are scarce.
When there is an OUTWARD SHIFT in the PPF curve, it shows that there's increase in factors of production, meaning the economy is able to produce more goods which invariably represents economic growth.
When there's an INWARD SHIFT in the PPF, it means there's low amount in the factors of production which will lead to decrease in the amount of goods produced.
option A. An outward shift of a nation's production possibilities frontier represents economic growth.
Explanation:An outward shift of a nation's production possibilities frontier represents economic growth. This means that the country is able to produce more goods and services with its available resources, indicating an improvement in its overall economic performance.
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Economists usually assume that production is subject to increasing opportunity costs because: a. higher production usually results in more inflation. b. if production is efficient, it is not possible to increase the production of all goods simultaneously. c. individuals desire constantly increasing opportunities to make themselves better off. d. not all resources are equally suited to producing every good.
Answer:
d. not all resources are equally suited to producing every good.
Explanation:
The rule of increasing cost of opportunity is the principle that, when you keep increasing the development of one item, the cost of opportunity of creating the next unit rises. It occurs just as you redistribute resources to create one product which was ideally suited to create the initial product.
An OSHA compliance inspector arrives at a meat processing unit and presents his credentials to the unit manager. The manager, however, refuses to allow the inspector to carry out the inspection process. In this case, what should the inspector do next
Answer:
The compliance officers is to provide an inspection warrant before entering the work site.
Explanation:
OSHA is an abbreviation for Occupational Safety and Health Administration. This are compliance safety and health officers inspectors committed to strong, fair, and effective enforcement of safety and health requirements in the workplace at every time. They are trained, experienced and backed by law to ensure industrial hygienists, safety, compliance with OSHA requirements and help employers and workers reduce on-the-job hazards and prevent injuries, illnesses, and deaths in the workplace.
OSHA conducts inspections without advance notice and employers have the right to ask the compliance officers to provide an inspection warrant before entering the worksite.
Beth Williams works for a marketing research company in Chicago. Her current research involves finding the market potential for a client's new line of sports apparel. Given her objective, which of the following types of research is the most suitable for Beth?
a. exploratory research
b. causal research
c. descriptive research
d. constructive research
Answer: (C) Descriptive research
Explanation:
The descriptive research is one of the type of research method that helps in describe the features and qualities based on the given phenomenon and study.
The main purpose of the descriptive research method is that it helps in validating and also explain about the various types of hypothesis based on the given concept.
According to the given question, the descriptive research is one of the most suitable type of research for Beth Williams that helps in evaluating the current market status of the client and it also helps in making various types of business decision in the company.
Therefore, Option (C) is correct answer.
Descriptive research is the most suitable type of research for Beth Williams in finding the market potential for a client's new line of sports apparel.
Explanation:The most suitable type of research for Beth Williams in finding the market potential for a client's new line of sports apparel would be descriptive research. Descriptive research aims to describe and measure characteristics or traits of a population, which would be valuable in determining potential markets and consumer preferences. Beth can gather data through surveys, interviews, or focus groups to analyze the market potential for the new sports apparel line.
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Which of the following will cause an increase in consumer surplus?A. the imposition of a binding price floor in the marketB. a decrease in the number of sellers of the goodC. a technological improvement in the production of the goodD. an increase in the production cost of the good
Consumer surplus increases with a technological improvement in the production of the good, as it leads to an increase in supply and a decrease in price, saving consumers money. A binding price floor, a decrease in the number of sellers, and an increase in the production cost generally decrease consumer surplus because they lead to higher prices.
Explanation:Consumer surplus is the monetary gain obtained by consumers because they are able to purchase a product for a price less than the highest price they are willing to pay. In other words, it’s the difference between what consumers are willing to pay for a good or service and the actual price they pay. The question asks: Which of the following will cause an increase in consumer surplus? A. the imposition of a binding price floor in the market B. a decrease in the number of sellers of the good C. a technological improvement in the production of the good D. an increase in the production cost of the good.
The correct answer is C. a technological improvement in the production of the good. This is because a technological improvement in the production of a good can lead to an increase in supply. When supply increases, the price of the good decreases, which in turn, increases the consumer surplus as consumers are able to buy the good at a cheaper price.
A binding price floor, a decrease in the number of sellers, and an increase in the production cost all decrease consumer surplus because they can lead to higher prices for the good. Higher prices mean consumers pay more, thus decreasing their surplus.
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A study of the consumption of beverages in Mexico found that: "Overall, for soft drinks a 10% price increase decreases the quantity consumed by 10.6%."
Source: M.A. Colchero, et al., "Price Elasticity of the Demand for Sugar Sweetened Beverages and Soft Drinks inMexico," Economics and Human Biology, Vol. 19, December 2015, pp. 129-137.
Given this information, the price elasticity of demand for soda in Mexico is _____ . (Enter your response rounded to two decimal places. Use a negative sign if you are entering a negativenumber.)
Is demand price elastic or price inelastic? Briefly explain.
A.) Inelastic, because the percentage change in quantity demanded is less than the percentage change in price.
B.) Elastic, because the percentage change in quantity demanded is less than the percentage change in price.
C.) Inelastic, because the percentage change in quantity demanded is greater than the percentage change in price.
D.) Elastic, because the percentage change in quantity demanded is greater than the percentage change in price.
Answer:
Elasticity of demand is 1.06
Elastic, because the percentage change in quantity demanded is greater than the percentage change in price.
Explanation:
Elascitiy of demand measures the responsiveness of quantity demanded to changes in price.
Elasticity of demand = percentage change in quantity demanded / percentage change in price.
10.6% / 10% = 1.06
When coefficient of elasticity is greater than 1, it indicates that demand is elastic.
The percentage change in quantity demanded is greater than the percentage change in price.
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A marketing research is most likely to serve as a _____ in a new product development team. functional representative process manager scientific advisor project leader
Answer:
functional representative
Explanation:
A marketing research is most likely to serve as a functional representative in a new product development team.
Market research are conducted to know the viability of new goods and services in the market before it is launched. It is based on unbaised opinion of customers. It help the company to understand the target customer, pricing, other expectation of customer, which is extremely important in designing and developing new product. Therefore, market research serve as functional representative.
Differential treatment of individuals or groups based on race, ethnicity, gender, sexual orientation, or economic status, instead of on their behavior or qualifications is the definition of:_________
Answer:
Discrimination
Explanation:
Discrimination - it is referred to as the practice of avoiding or showing differential treatment to the individual on the basis of sex, culture, religion, etc are known as discrimination.
it is referred to as the unfair treatment against certain sections of society.
To remove the discrimination practice or to overcome the problem affected the marginal community, the government introduce the policy in the form of reservation, making separate policies for the marginal community.
Ethan is a purchasing manager for an industrial chemical company. Kim is a salesperson for a raw materials provider is contacting Ethan in an effort to initiate a relationship. Kim is adopting a ___________ format, which is probably the worst sales presentation format for this situation.A) Directed sales presentation
B) Written sales presentation
C) Organized sales presentation
D) Canned sales presentation
E) Customized sales presentation
Answer:
c) organized sales presentation
Explanation:
Ethan is a purchasing manager for an industrial chemical company. Kim is a salesperson for a raw materials provider is contacting Ethan in an effort to initiate a relationship. Kim is adopting a ___________ format, which is probably the "BEST" sales presentation format for this situation.
By Kim making a relationship with Ethan he has created the best source to get the right information needed in other to give an outstanding presentation that would yield a positive break through for him to sell the required raw material for Ethan"s industrial chemical company.
Statistics, Inc., is a corporation engaged in the business of compiling, analyzing, and marketing data. To accomplish its purposes, Statistics obtains financing, and hires and fires employees. Laws and government regulations affect such business activities asa. business financing.b. the manufacturing and marketing ofproducts.c. hiring and firing decisions.d. all of the choices.
Answer:
option d
Explanation:
Business finance relates to corporate money supply. It includes the acquisition and utilization of resources so that industry firms can efficiently and effectively carry out their activities.
Manufacturing is producing goods to be used or distribution using manpower and equipment, instruments, biological or chemical processing or formulating, and is the core of supplementary sector.
Marketing refers to the knowledge of communication interactions and their development. It is the corporate idea of developing partnerships and customer loyalty.
Hiring can be defined as adding employees to provide facilities to a business whereas firing is described as reducing the number of workers who have not correctly deliver services to that of a business.
Thus, from the above we can conclude that the correct option is D.
Arie is a team lead for a group of engineers working on a new product. Arie decides to assign four additional engineers to the project to optimize corporate resources. His decisions, in this scenario, are ________ in nature.A. functional B. managerial C. strategic D. operational E. active
Answer:
B. managerial
Explanation:
When something involves activities of management is called managerial. In the example given this is the nature of the behavior because Arie is organizing and directing the corporation in order to optimize and be efficient.
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Which is NOT an example of a behavior exhibited in a market economy? a. For their wedding, Alex and Erika choose Matte Photography instead of Pro Finish Photography, since Matte Photography is cheaper. b. Despite the advice of its business partners, Puna discontinues its most popular lines of clothing, and chooses instead to produce retro jean jackets and purple sweatpants, thinking that jean jackets and sweatpants are bound to make a fashion comeback. c. The president of the European country of Semolina decrees that pasta must be consumed at all meals in an effort to help domestic pasta makers. d. Nettoyer decides to introduce a soap scent, Pomegranate, in response to Schoon's new soap scent, Blood Orange, and Sauber's award-winning scent, Tangerine.
Answer:
An example of a behavior that is not exhibited in a market economy is;
c. The president of the European country of Semolina decrees that pasta must be consumed at all meals in an effort to help domestic pasta makers.
Explanation:
A market economy is a situation where the prices of goods and services in the market is controlled purely by the market forces of demand and supply. The prices are majorly set by competing private businesses without any form of government restrictions. Economists like Adam Smith postulated that when the market was controlled by forces like competition, supply and demand with limited government interference, it led to efficiencies as compared to if the government was involved.
There are different examples of behavior exhibited in a market economy, namely;
1. For their wedding, Alex and Erika choose Matte Photography instead of Pro Finish Photography, since Matte Photography is cheaper. In this case Alex and Erika made a decision to go for an option based on price. A characteristic of a market economy.
2. Despite the advice of its business partners, Puna discontinues its most popular lines of clothing, and chooses instead to produce retro jean jackets and purple sweatpants, thinking that jean jackets and sweatpants are bound to make a fashion comeback. This is an example of a market economy behavior since Puna makes the decision freely without any external restrictions.
3. Nettoyer decides to introduce a soap scent, Pomegranate, in response to Schoon's new soap scent, Blood Orange, and Sauber's award-winning scent, Tangerine. Nettoyer has the freedom to introduce a new product in the market in order to compete effectively,. This is a behavior characteristic of the market economy.
An example of a behavior that is not exhibited in a market economy is;
1. The president of the European country of Semolina decrees that pasta must be consumed at all meals in an effort to help domestic pasta makers. This is because the government through the president provides restrictions on the consumption of pasta.
In a market economy, decisions made by consumers and firms in the marketplace drive production and consumption. The behavior exhibited by the president of Semolina, a top-down government directive rather than a market-decided outcome, is not consistent with the principles of a market economy.
In a market economy, decisions about what goods to produce and how to produce them are made by consumers and firms interacting in the marketplace. Among the choices provided, only one stands out as a non-example of behavior in a market economy. It's the option c. The president of the European country of Semolina decrees that pasta must be consumed at all meals in an effort to help domestic pasta makers. This situation reflects not a market decision but rather a top-down government mandate, which isn't indicative of behavior typically found in a market economy.
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Hammer and Nails, Local Motion, DIY Palace, and Handy Paradise are all hardware stores that compete against each other through everyday low pricing and discounts on bulk purchases. All four stores cater to the needs of highly price-sensitive customers. Thus, together these stores form a
Answer:
Strategic group
Explanation:
Combinations of companies which sell similar products combine to form a strategic group. It is a concept of management that identifies and separate companies working in the same industry. Similarly, in the above example, the stores are similar as all four are hardware stores; so to compete against each other, they form different strategies such as discounts so they use strategies which makes all of them strategic group.
Select the correction answer from the choices below. If an American student purchases a personal computer made by a Korean owned company located in California, what would happen to consumption and the GDP of the USA as a result
Answer:
The consumption and GDP will increase.
Explanation:
Consumption can be defined as the purchase of final goods and services with the motive to derive utility or satisfaction. Consumption expenditure is included in the GDP of an economy.
If an American student purchases a personal computer made by a company located in California, it will be recorded as consumption.
This will cause consumption to increase. Since consumption is included in GDP, the GDP will increase as well.
A large beer company previously had a yearly budget of $50 million per year for advertising but increased the budget to $60 million in order to run a commercial during the Super Bowl. That year revenues increased by 1%. Should the beer company continue with the increased advertising budget?
Answer:
Yes they can continue advert but only if the 1% is equivalent or greater than the 10$ spent on advert.
Explanation:
There is an increase in revenue by 1%, this indicates that a number of people were attracted to the product because of the advert. With this the company might do better with consistent advert in subsequent year. They can change the channel of advert, improve on the quality of advert or change the time and location of the advert. Infarct, the 1% increment in revenue can be up to 20$ since we are not sure of the exact company's revenue. But if the 1% is far lower than the amount spent, the company can seek advice from professionals.
an example to explain the difference between trade‐offs and opportunity costs.
Answer:
Trade off can be defined as when we select on options among two or more than two options, then selecting that option will prohibits the advantages
associated with other options which we have left. For example: when you go for earning 5 mile away from your home, then certainly, you have put effort and become tired as well but you will get the money after work, so you have done trade-off there.
Opportunity cost can be termed as the cost which you bear by not enjoying and taking the benefits associated with the best available option which you leave while in the selection process. For example: you spend time watching a fantastic movie but you can't read a good story book while staying cozy at home, eating a pizza, or you can't spend the same money on something else.
If Brazil gives up three automobiles for each ton of coffee it produces, while Peru gives up seven automobiles for each ton of coffee it produces, then Brazil has a comparative advantage in _____ production and should specialize in _____.
Answer: coffee; coffee
Explanation: The less the automobiles given up the more they can make returns in the coffee productions
Peter and Ana Teraglia are wealthy entrepreneurs who are very interested in helping children who have been abused. Their goal is to donate a percentage of their company profits to helping these children. The Teraglias’ actions are an example of ________.a. corporate ethics.
b. philanthropy.
c. corporate sustainability.
d. mentoring.
e. corporate governance.
Answer:
The correct answer is letter "B": philanthropy.
Explanation:
Philanthropy is described as the set of uninterested actions people take to help others. Those others are usually individuals in need who are not receiving any help from governmental institutions. Even if philanthropy is related to the act of providing money, it is not that simple. People dedicating their time volunteering to help others without receiving nothing in return are also philanthropists.