Answer:
Relative responsiveness of consumer to change in price is called elasticity of demand.
Elasticity of demand here is 7.
Demand is highly elastic.
Cutting the price from $1.25 to $0.75, total revenue remains same as the elasticity of demand does not change.
Explanation:
Percentage change in quantity demanded due to percentage change in price.
Elasticity of demand=% change in quantity demanded/percentage change in price.
Small change in price caused a huge change in quantity demanded.
When social unrest and disorder in a country causes drastic changes in its business environment that adversely affect the profit and other goals of a business enterprise, the business enterprise is said to be facing which of the following type of risk?A) Demographic
B) Technological
C) Physiological
D) Ethical
E) Political
Answer: (E) Political
Explanation:
The political risk is one of the type of risk basically faced by the corporations, investors and the government during the time political decisions making process.
Due to the political instability, regulatory and the legal constraints the political risk problem get faced in an organization.
According to the given question, due to the social unrest and also the drastic change occur in the business environment this is basically illustrating the political risk.
Therefore, Option (E) is correct answer.
The business enterprise is facing political risk.
Explanation:The business enterprise in this scenario is said to be facing political risk.
Political risk refers to the impact of political instability, unrest, or changes in government policies on a business enterprise. When there is social unrest and disorder in a country, it can lead to drastic changes in the business environment, including changes in regulations, laws, and government policies that can adversely affect the profit and other goals of the business enterprise.
For example, during times of political unrest, a government may impose new taxes or regulations that make it difficult for businesses to operate efficiently or may even seize business assets. The uncertainty and instability caused by political risk can make it challenging for businesses to plan for the future and make sound investment decisions.
According to Erik Erikson, in late adulthood, the individual reaches the eighth and final stage of the life span in which one reviews and evaluates one's life and the choices one has made. Erikson labeled this stage Group of answer choices integrity versus despair Keeping disorders from developing top-down processing
Answer:
integrity versus despair
Explanation:
integrity versus despair. In the integrity versus despair process, people reflect on the lives that they have been living and either have a feeling of fullness or a feeling of remorse and despair over the misperformance of their lives.
Erikson's integrity vs. Despair (1982). He is one of the few theoreticians to consider the old age as a developmental stage. This last stage of life is the conflict of dignity vs. despair. Erikson indicates that this phase commences with a mortality sensation
Final answer:
Erik Erikson's theory of psychosocial development culminates in the stage of 'Integrity vs. Despair' in late adulthood, where individuals reflect on their life and achieve either a sense of integrity or experience despair.
Explanation:
Erik Erikson’s Final Stage of Development: Integrity vs. Despair:
In the theory of psychosocial development formulated by Erik Erikson, late adulthood is characterized by the stage of integrity vs. despair. This final stage entails a process wherein individuals reflect upon their life experiences and accomplishments. Those who find satisfaction and take pride in their life's work achieve a sense of integrity, looking back with few regrets and often developing wisdom. Conversely, individuals who view their lives as unproductive or filled with missed opportunities may experience despair, leading to feelings of bitterness and hopelessness. According to Erikson, the ability to look back with satisfaction is essential to achieving a sense of peace in late adulthood.
The country of Argonia imposes an ad valorem tariff of 10 percent on 1 million tons of rice imports, after which an out-of-quota tariff of 80 percent is applied. Which of the following trade policy instruments is Argonia using?
A. Subsidy
B. Tariff rate quota
C. Voluntary export restraint
D. Tariff ceiling
E. Local content requirement
Answer:
B. Tariff rate quota
Explanation:
B. Tariff rate quota - it is comprised of two policy instrument i.e. import quota and tariff to control and regularized imports.
Tariff rate quota implies a limitation on the number of goods that import from a foreign country. it is applied for certain period of time.
In the same way, Argonia imposes a 10% tariff on imports of 1 million rice.
HealthWise Corporation has developed a new diet supplement to assist with weight loss. Which type of legal protection grants HealthWise Corporation exclusive rights for a defined period to the manufacture, use, or sale of this new diet supplement?
patent T/F
Answer:
True
Explanation:
Patent -
It refers to the legal rights given in order to sell , publish , manufacture the goods and services for a specified time period , is referred to as a patent .
The company or people has the legal right to sell or publish any others work .
These patents are approved by the government .
It enables to provide the monetary value for the country , by designing and developing goods and services.
Hence , from the given scenario of the question ,
The correct term is patent .
An important part of employee compensation is a benefits package, which might include health insurance, life insurance, child care, vacation days, retirement plan, parental leave, bonuses, etc. Suppose you want to conduct a survey of benefits packages available in private businesses in Hawaii. You want a sample size of 100. Some sampling techniques are described below. Categorize each technique as simple random sample, stratified sample, systematic sample, cluster sample, or convenience sample.
(a) Assign each business in the Island Business Directory a number, and then use a random-number table to select the businesses to be included in the sample.
simple random (b) Use postal ZIP Codes to divide the state into regions. Pick a random sample of 10 ZIP Code areas and then include all the businesses in each selected ZIP Code area.(c) Send a team of five research assistants to Bishop Street in downtown Honolulu. Let each assistant select a block or building and interview an employee from each business found. Each researcher can have the rest of the day off after getting responses from 20 different businesses.
Final answer:
The sampling techniques used in the scenarios are stratified sample, convenience sample, and stratified sample.
Explanation:
(a) The sampling technique used in this scenario is stratified sample. The population of boys is divided into three groups based on age, and players are selected from each group to form the soccer team.
(b) The technique used in this scenario is convenience sample. The pollster selects all human resource personnel in five different high tech companies, which is based on convenience rather than a random selection.
(c) The technique used in this scenario is stratified sample. The population of high school teachers is divided into two groups based on gender, and teachers from each group are interviewed.
Final answer:
The assignment of random numbers to select businesses represents a simple random sample, using ZIP Codes to include all businesses within selected areas is a cluster sample, and selecting businesses based on specific location by assistants represents a convenience sample.
Explanation:
To categorize each sampling technique for a survey of benefits packages in private businesses in Hawaii with a sample size of 100, let's analyze each scenario:
(a) Assigning each business a number and using a random-number table to select businesses would be a simple random sample. This method gives every business an equal chance to be included in the sample.(b) Dividing the state into regions using ZIP Codes, selecting a random sample of ZIP Code areas, and then including all the businesses within those areas is an example of a cluster sample. Every unit within the selected clusters is included in the sample.(c) Sending assistants to a specific location and letting them select businesses to interview is an example of a convenience sample. This method is based on ease of access and doesn't provide every business an equal chance to be selected, which often results in biased data.Your investment banker has presented you with the following list of business characteristics of a small company your company is considering acquiring:
1. Market leadership
2. Large inventories
3. Lack of management depth
4. Cost advantages
5. Management turnover
6. Excess manufacturing capacity relative to market
Based on this list of characteristics, which of the following statements is true?
a. The list contains more weaknesses than strengths.
b. This list contains only strengths.
c. The list contains more strengths than weaknesses.
d. The list contains only weaknesses.
e. The list contains an equal number of strengths and weaknesses.
Answer:
A
Explanation:
The list contains more weaknesses than strengths
The list of weaknesses are:
Excess manufacturing capacity relative to market; If you are producing more than you are selling then its a weakness
Large inventories; that dont sell its a weakness
Lack of management depth; means that management does not have a proper foundation
Management turnover; if you keep changing management it will affect the company as skilled workers will be leaving
The list of strengths are:
Cost advantages; cost advantage against your competitors is an added strength
Market leadership; having a large market share is equally an advantage
Zenya is the founder of an online service that allows users to rent out spare rooms in their homes. She has hired a number of extremely bright employees whose opinions are central to the company's success in the fast-paced online services industry. Which type of strategic management process would be most likely to fully utilize the strengths embodied by her team and position the company to capitalize upon autonomous actions and serendipity?
Answer:
strategy as planned emergence
Explanation:
Which of the following ethical theories is adopted by a company that strives to act as ethically as possible, even at the expense of some additional profits, as long as the business remains profitable?a. The maximizing profits theory b. The invisible hand theory c. The moral minimum theory d. The competitive advantage theory
Answer:
c. The moral minimum theory
Explanation:
The moral minimum theory is a principle that statutes that a business should do NO intentional harm or do the minimum harm possible in order to consider its behavior the minimum required for ethical behavior.
I hope you find this information useful and interesting! Good luck!
Final answer:
The theory consistent with a company prioritizing ethical behavior over additional profits is the moral minimum theory, which maintains a baseline of ethical conduct while ensuring profitability.
Explanation:
The ethical theory adopted by a company that strives to act as ethically as possible, even at the expense of some additional profits, is most aligned with the moral minimum theory. This theory suggests that companies should aim to do no harm, and should engage in ethical behavior even if it impacts their profits, provided they remain profitable. The theories such as maximizing profits theory, invisible hand theory, and competitive advantage theory may all entail profit maximization as a primary objective, which does not align with sacrificing profits for ethical considerations.
Which statement is true about the gross profit method of inventory valuation?
a. It may be used to estimate inventories for annual statements.
b. It may be used to estimate inventories for interim statements.
c. It eliminates the need for physical inventories.
d. When calculated on selling price, it will always be more than the related percentage based on cost.
Answer:
b. It may be used to estimate inventories for interim statements.
Explanation:
As we know that
Gross profit = Sales - the cost of goods sold
By doing the inventory valuation through the gross profit method, it estimated inventories for interim statements as these statements are covering the financial information that is less than a year so that the proper analysis could be made and in this, no auditing is required.
Therefore, for interim statements, the gross profit method is required.
Final answer:
The gross profit method may be used to estimate inventories for interim statements. It uses the gross profit rate to estimate the cost of goods sold and ending inventory, but does not eliminate the need for physical inventories nor necessarily results in a higher selling price percentage compared to the cost percentage.
Explanation:
The gross profit method of inventory valuation is typically used to make a preliminary estimate of the inventory value, and it can be quite useful in various business scenarios. However, the truest statement among the provided options is:
b. It may be used to estimate inventories for interim statements.
This method involves using the previous or estimated gross profit rate to estimate the cost of goods sold, which can then be used to estimate ending inventory. It is often employed for preparing interim financial statements when taking a physical inventory is not feasible or practical. While it may sometimes be used to estimate inventories in annual statements, this is not its primary purpose. The method does not eliminate the need for taking a physical inventory, as physical inventories are still necessary for precise and accurate financial reporting, typically on an annual basis. Additionally, the method when calculated on selling price does not always equate to a higher percentage than the cost-related percentage; this is a mathematical evaluation that depends on the margins and markups of the products.
Companies and managers take a(n) _____ approach to stay within the law and abide strictly by legal requirements but make no attempt to exercise social responsibility beyond what the law dictates.
Answer:
Defensive approach
Explanation:
Many companies and managers follow a defensive strategy to stay under the radar and follow all rules and regulation of a country to stay away from legal problems. These companies stay within the law with the sole purpose of making profits. These companies or managers do not make attempts to do charity work or social responsibility they just follow the law.
At the end of the term, Vicky wants to sell her economics textbook for at least $25, otherwise she would keep it. George is looking to buy a textbook because he's taking the class next term and he is willing to pay at most $60. If Vicky agrees to sell the textbook to George for $45: a) George's consumer surplus is $60 and Vicky's producer surplus is $25. b) George's consumer surplus is $20 and Vicky's producer surplus is $15. c) George's consumer surplus is $15 and Vicky's producer surplus is $20. d) George's consumer surplus is $45 and Vicky's producer surplus is $45. Save
Answer:
c) George's consumer surplus is $15 and Vicky's producer surplus is $20
Explanation:
The formula to compute the producer surplus and the consumer surplus is shown below:
Producer surplus = Market price - Actual amount to sell the goods
And, the consumer surplus = Willing to pay - Market price
So, the producer surplus
= $45 - $25
= $20
And, the consumer surplus is
= $60 - $45
= $15
Therefore, the correct option is c.
In 2017, Walker Company issued common stock for $200,000 cash. The company also paid cash dividends of $30,000, and issued a two-year note payable to purchase equipment for $45,000. Bonds payable increased from the issuance of bonds for $50,000 cash. The statement of cash flows should report net cash provided by financing activities of?
The statement of cash flows should report net cash provided by financing activities of $270,000, considering cash inflows and outflows related to financing activities.
Explanation:The statement of cash flows should report net cash provided by financing activities of $270,000.
To calculate net cash provided by financing activities, we need to consider the cash inflows and outflows related to financing activities. In this case, the cash inflow from the issuance of common stock is $200,000, and the cash inflow from the issuance of bonds payable is $50,000. However, there are cash outflows as well, including the payment of cash dividends of $30,000 and the issuance of a two-year note payable for $45,000 to purchase equipment.
By subtracting the cash outflows ($30,000 + $45,000) from the cash inflows ($200,000 + $50,000), we get a net cash provided by financing activities of $270,000. This amount should be reported in the statement of cash flows.
Soft drink manufacturers face (a) ________.
A) High threat of substitutes.
B) High bargaining power of suppliers.
C) High threat of new entrants.
D) Low levels of rivalry.
E) High bargaining power of buyers.
Answer:
The correct answer is (A)
Explanation:
Soft drink manufacturing industry faces a high threat of substitutes. Not many soft drink brand exit the market but many new companies and brand enter. Similarly, that is the reason why prices of soft drink do not fluctuate as compare to other food items. The competitive environment in the soft drink industry creates a high threat of substitutes.
The correct answer is (A) High threat of substitutes.
Soft drink manufacturers face a high threat of substitutes due to significant competition from other beverages like juices, water, and energy drinks. This factor impacts their profitability by offering consumers attractive alternatives.
To identify the major issue that soft drink manufacturers face, we need to consider different aspects of the industry. Based on the provided options and the given context:
High threat of substitutes: The soft drink industry does face substantial competition from other beverage options such as juices, water, and energy drinks, presenting a high threat of substitutes.High bargaining power of suppliers: Suppliers typically have more power when there are fewer alternatives or the raw materials are highly differentiated. However, this varies within the industry.High threat of new entrants: While the industry has high entry barriers due to brand loyalty and significant capital requirements, the threat of new entrants is moderate.Low levels of rivalry: The rivalry among existing competitors in the soft drink industry is high, not low, due to the presence of dominant players like Coca-Cola and PepsiCo.High bargaining power of buyers: Consumers in the soft drink industry do have high bargaining power, as they can easily switch to different brands or beverages based on taste and price.On December 30 of the current year, Azrael, Inc., purchased a machine from Abiss Corp. in exchange for a noninterest-bearing note requiring eight payments of $20,000. The first payment was made on December 30, and the others are due annually on December 30. At date of issuance, the prevailing rate of interest for this type of note was 11%. On Azrael's current year December 31 balance sheet, the note payable to Abiss was A. $94, 244 B. $114, 244 C. $102, 922 D. $104, 611
Answer:
A) $94, 244
Explanation:
The agreement required 8 installment payment of $20,000 each, the first one was due on the same day the agreement was made (December 30). The December 31 balance account of the note payable equals the present value of the 7 remaining payments:
the present value factor of an ordinary annuity for 7 years ans 11% interest rate = 4.712
so the present value of the note payable = $20,000 x 4.7122 = $94,244
The income statement presents
A. an explanation of the changes in the beginning and ending balances of stockholders' equity.
B. a comparison of the benefits and the sacrifices a company experiences from its operations.
C. information in three categories including operating, investing, and financial activities.
D. a list of a company's assets and the sources of those assets
Answer:
B. a comparison of the benefits and the sacrifices a company experiences from its operations.
Explanation:
The total revenues and total expenditures are reported in the income statement.
If the total income exceeds expenditure then the company earns net income And if the total income is below the total expenditure then the company has a net loss This net income or net loss would be represented in the retained earnings account statement.
Therefore, it shows a comparison between the benefits and the sacrifice made.
e Securities and Exchange Commission was created by the government to protect investors and to maintain orderly and efficient markets. It is an example of a(n) _____. a. strategic partner b. regulatory agency c. competitor
Answer:
Correct option is (b)
Explanation:
Regulatory agencies are authoritative bodies established by the Government to establish, implement and supervise the standards to be followed to carry out certain activities or actions. Different fields or areas have respective regulatory agencies that oversee the activities of those establishments.
SEC or securities exchange commission is a regulatory agency established to supervise the securities market, thereby protecting investors from frauds and other malpractices.
Matt, a new junior lawyer at a law firm, was closely supervised and monitored by Juan, a senior lawyer. Juan reviewed everything that Matt did and made modifications to Matt's work. However, lately, Juan has stopped monitoring Matt and supervising his work. He has also given Matt the freedom to make decisions related to his work. The given scenario is an example of _____.
a. job rotation
b. job enrichment
c. job embeddedness
d. job enlargement
Answer:
Correct option is (b)
Explanation:
Job enrichment is a motivational tool used by managers to enhance employee job satisfaction. Job enrichment can be done in many ways like giving promotions, additional responsibilities or transfer the employee to his desired location.
Here, Juan allowed Matt to make decisions and stopped supervising him. This is one of the methods of job enrichment as they are means to give Matt greater satisfaction at work.
The scenario where Matt, a junior lawyer, now has more autonomy and decision-making power in his work is an example of job enrichment. Option b) is correct.
The scenario described with Matt, a junior lawyer who was initially closely supervised and has now been given more freedom and control over his work decisions, is an example of job enrichment. Job enrichment is a technique used to redesign jobs, which gives employees more autonomy and responsibility. It contrasts with job rotation, which involves moving employees between tasks to relieve monotony but doesn't necessarily increase autonomy or responsibility. Whereas job enlargement expands the number of different tasks an employee performs, adding more variety, again without necessarily increasing their autonomy over the work.
You were planning to spend Saturday working at your part-time job, but a friend asks you to go skiing.Which of the following are included in the true cost of going skiing? Check all that apply.
a.The rental of any ski equipment you need
b.The cost of a lift ticket
c.The cost of your ski jacket you purchased last year
d,The wages you forgo by going skiing
Answer:
a.The rental of any ski equipment you need.
b.The cost of a lift ticket.
d. The wages you forgo by going skiing.
Explanation:
The true cost in this case can also be called the opportunity cost of going skiing and it is defined as the total cost required in order to achieve the aim of going skiing.
The rental of any ski equipment you need, the cost of a lift ticket and the wages you forgo by going skiing are all included in the true cost of going skiing.
Answer:
a.The rental of any ski equipment you need
b.The cost of a lift ticket
d,The wages you forgo by going skiing
Explanation:
True cost is the monetary cost of doing something. In addition it includes the cost of foregoing an alternative action.
Rental of ski equipment and cost of lift ticket are the monetary costs incurred when you go skiing with your friend.
The opportunity cost is the alternative foregone in order to go skiing, that is the wages you are not earning while you are skiing.
Opportunity cost is considered by individuals and businesses in making the best choice between alternatives.
Joe's income is $500, the price of food (F, y-axis) is $2 per unit, and the price of shelter (S, x-axis) is8) $100. Which of the following represents his budget constraint?
A) F = 250-505
B) S-5-02F
C) 500-2F+100S
D) All of the above.
Answer:
C) 500-2F+100S
Explanation:
Budget constraints:
Total Income = $500
Price of food = $2
Price of Shelter = $100
Quantity of food = F
Quantity of shelter = S
Expense on food = 2 x F = 2F
Expense on shelter = 100 x S = 100S
Total income = Expense on Food + Expense of Shelter
500 = 2F + 100S
This part C is wrong there is an equal sign between 500 and 2F in the original question which is attached with this answer please find that.
The finance minister of a developing country demands a heavy payment for the approval of a multi-million dollar contract with a foreign company. this demand for the lump sum payment is called _____.
Answer:
Extortion
Explanation:
Extortion is the act of threatening or forcing another party to give you something, most of the time money.
In this case the minister in the developing country is demanding for payment before giving approval for the multi-million dollar contract.
The threat the minister is using against the company is to not approve Thier contract.
The idea that the meaning and value of work is whatever the workers determine that it is simply doesn't challenge in any significant way Bowie's contention that employers have an obligation to provide meaningful work.A.TrueB.False
Answer:
FALSE
Explanation:
Worker is an individual or animal performing a particular or required task, or performing tasks in a certain manner. An example of a retail worker is a person working in a shop. A person who works tirelessly for hours a day on his homework is one illustration of a consummate professional.
An employer relates to the organisation, institution, governmental entity, agency, company, professional services firm, nonprofit association, small business, store, or individual employing or putting to work, a person named a worker or a staff member.
Thus, from the above we can conclude that the implementation of work is heavily dependent on the idea that both the parties, that is employer and worker, have regarding the term work
Which type of residential setting may care for one to three clients in a family-like atmosphere, including meals and social activities with the family?
Answer:
Foster home
Explanation:
Foster home - it is referred to that type of residential setting which accommodates people that are orphaned, neglected. it is referred to as the home in which people are raised in a family atmosphere which includes meals and extra activities.
Foster home comes into play when people are forgotten by their own family members. There can be numerous reasons behind forgotten from the abusive atmosphere within the family to the death of some near one.
Wizard Co. purchased two machines for $250,000 each on January 2, 2005.
The machines were put into use immediately. Machine A has a useful life of 5 years and can only be used in one research project. Machine B will be used for 2 years on a research and development project and then used by the production division for an additional 8 years. Wizard uses the straight-line method of depreciation.What amount should Wizard include in 2005 research and development expense?
A. $75,000
B. $275,000
C. $375,000
D. $500,000
Answer:
B. $275,000
Explanation:
The second machine will be depreciate over time as it can later be used for operational purposes or another research projects. The first, as can only be used for a research project It should be considered expenses for the entire amount regardless of the useful life.
Machine B useful life 10 years
depreciation expense: cost / useful life
250,000 / 10 = 25,000
machine A 250,000 + 25,000 depreciation for machine B = 275,000 total
Cole has a cold. Although the brand-name drug is more expensive than the generic, he buys the brand-name one. Cole is familiar with the brand-name drug and knows exactly what to expect whe
Answer:
less risk
Explanation:
Note: The question appears to be incomplete. Another similar question has been attached for reference purpose and the answer provided herein is based upon that.
It is common consumer behavior of sticking to a brand name despite another lower cost option providing the same base or constituent. Particularly in case of necessities, the law of demand i.e lower price higher demand fails as consumer would prefer being exposed to lesser risk no matter whatever be the cost.
In the given case, the consumer i.e Cole prefers going with a brand name as it provides him with a higher degree of assurance as the brand has a certain reputation attached to it which the other generic option lacks.
Secondly owing to his familiarity with the drug and it's past usage experience, he has developed brand loyalty apparently.
Thus, Cole's decision is attributable to less risk.
Chelsea Lee runs the sales division for a local auto insurance firm. One of her key duties is to ensure the company has 10 percent market share by the end of the year. When evaluating the current sales numbers, she determines that her sales division has total sales of $3 million and the entire industry has total sales of $50 million. What additional sales must Chelsea Lee's division meet to ensure they have 10 percent of the market by the end of the year?A. $2 millionB. $1 millionC. $5 millionD. $10 million
Chelsea Lee's division currently holds a 6% market share. To achieve a 10% market share, her division needs to make $5 million in sales. Therefore, the division needs an additional $2 million in sales.
Explanation:This question is asking about the concept of market share. Market share is the portion of a market controlled by a particular company or product. In this case, Chelsea Lee's division of an auto insurance firm is aiming to control 10% of the market. Currently, her division has total sales of $3 million while the entire industry's sales total $50 million. Her company's market share can be calculated as ($3 million / $50 million) x 100 = 6%.
To achieve 10% market share, the firm's sales needs to be 10% of the total industry sales. This would be calculated as $50 million x 0.10 = $5 million. Since her division currently has $3 million in sales, they would need an additional $2 million ($5 million - $3 million) in sales to achieve a 10% market share. Therefore, option A: $2 million is the correct answer.
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