The pandemic and measures were taken to control the spread disease have significantly disrupted economic activity in countries around the world, resulting in significant business interruption losses.
What was the impact of pandemic over the insurance businesses?Businesses across many sectors of the economy faced major decline in the revenue during the pandemic due to which government direct them to close their businesses.
Insurers and their associations around the world stated that most of the policyholders have not acquired insurance coverage which will respond to the business interruption losses that result from pandemic business closures.
Business interruption insurance against pandemic risk could be provided with support from governments based on the experience of risk insurance programs.
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The scenarios each illustrate a principle of economics. classify each scenario according to the principle that best fits it. you are currently in a labeling module. turn off browse mode or quick nav, tab to items, space or enter to pick up, tab to move, space or enter to drop. on black friday, there are huge sales for electronics at many retail stores. david must decide between buying a camera at one store or a flat screen tv at another store, and buying one means losing out on the ability to purchase the other. an educational software company wants to expand the number of economics questions that it offers and is considering hiring another economist. the company compares how much adding another worker will improve the product to the additional cost. ava finds that there is not enough time after work to have dinner, exercise, and watch tv, and she must make choices about how to use her limited time.
David's decision on the electronics to purchase represents opportunity cost.
The decision to hire another economist is marginal analysis.
Ana's decision on how to use her time involves opportunity cost.
What is opportunity cost?
Opportunity cost of the next best option forgone when one alternative is chosen over other alternatives. When an economic agent chooses one option, he would not be able to choose another option.
What is marginal analysis?Marginal analysis involves comparing the marginal cost or / and the marginal benefit of a decision.
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The complexity and challenges associated with planning for and executing an operation include.
Answer:
One of the two equal sides of an isosceles triangle is 5.4cm . If the perimeter of the triangle is 15.4cm find the length of remaining side of the triangle.
A media strategy involves _____ for an advertising and marketing campaign.
In most time, the media strategy involves analyzing & choosing media for an advertising and marketing campaign.
What is a media strategy?This refers to those action that help a firm to reach their target audience as well as to improve the overall customer conversion rate.
Hence, most time, the media strategy involves analyzing & choosing media for an advertising and marketing campaign.
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A forecast that addresses the business cycle by predicting planning indicators is.
An economic forecast is a forecast that considers the business cycle by foreseeing planning indicators. a projection of the economy.
What do you mean by business forecasting?A projection of an industry's or firm's future developments made using historical and current data trends and patterns is known as business forecasting.
Types of forecasting :
Economic, the labor market, and company sales expansionexpectations are the three categories.
Thus,
The technique of forecasting the state of the economy using a variety of frequently used indicators is known as economic forecasting.
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In general, the short-run economic framework deals with issues of:
In general, the short-run economic framework deals with issues of aggregate demand.
What is aggregate demand?Aggregate demand measures the total demand of a particular goods or services.
This can be done for a given time and product to determine the stable products.
Therefore, In general, the short-run economic framework deals with issues of aggregate demand.
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Which of the following affects employers' decisions on how much to pay their workers?
A.Maximizing costs
B.Maximizing profits
C.Minimizing profits
D.Minimizing benefits
Maximizing profits is the factor that affects employers' decisions on how much to pay their workers.
What is profit maximization?Profit maximisation is a process that businesses go through to make sure the best levels of output and prices are realised in order to maximise their returns. The company modifies important variables like sale price, production costs, and output levels in order to achieve its profit objectives.
Profit maximisation is a strategy that can promote effective and long-term business expansion. Using a profit maximisation approach can ensure that increased work results in higher net revenue if you're ready to develop your business.
What are other factors that affects workers pay?Internal and External Determinants of Pay: Factors Affecting Employee Pay
Employment SituationFinancial SituationGovernment Control of Living Expenses Prevailing Wage Level Union InfluenceGlobalizationSector-Across MobilitySupporting answer
Hence option B is correct answer
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Tyler is a developer who renovates a long-abandoned warehouse in a low-income neighborhood into a community center, complete with space for after-school programs, a daycare, and a gym. Tyler is able to complete the renovation with a loan funded by a local bank. Which act requires financial institutions to make credit available for this type of development
The act that tasks financial institutions to provide credit for the development being pursued by Tyler is the Community Reinvestment Act.
What is the Community Reinvestment Act?The Community Reinvestment Act is a federal act that was passed in 1977 to encourage banks and other financial institutions to loan out credit for projects in lower and moderate-income neighborhoods.
Tyler is building the community center in a low-income neighborhood so the loan acquired falls under the Community Reinvestment Act.
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When a firm makes choices between a cost or value position to achieve competitive advantage, it is primarily involved in:
When a firm makes choices between a cost or value position to achieve competitive advantage, it is primarily involved in: strategic trade-offs.
What are strategic trade-offs?
This is a term that is used in the business word to refer to the sacrifices that a firm would make in order to be able to deliver on its goals.
Trade offs could be the service levels that the firm is not able to achieve.
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the ______ is characterized by a commitment to equal opportunities in hiring and promotions, and does not directly link a work group’s productivity or success with diversity.
Discrimination-and-Fairness Perspective is characterized by a commitment to equal opportunities in hiring and promotions, and does not directly link a work group’s productivity or success with diversity.
What is the Discrimination-and-Fairness Perspective?This is the concept or terminology that is based on the fact that people are the same basically and have to treated the same way in their work places.
This perspective has to do with the fact that and that all forms of differences or awareness has to be reduced to a great minimum.
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country x has a budget deficit. which of the following changes in government budget outlays and tax revenues will result in a decrease in country x’s government budget deficit?
The combination of outlay and Tax revenue that will help correct the deficit situation of Country X is found in Option D. This condition means that the country's tax revenue is in excess of its spending by $200 Million.
What is a Budget Deficit?When there is a shortfall between the available funds or revenue required to service the budget, the country is said to be operating in a budget deficit situation. Note that outlay means spending.
Thus, it is correct to state that The combination of outlay and Tax revenue that will help correct the deficit situation of Country X is found in Option D
See the attached image.
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A company that is based in boston is a ____ company
When a company is based in Boston then it is considered to be a Northeastern company.
What is a company located in Boston called?Boston is in the Northeast of the country and it is known for its history of industrial leadership.
A company that is based here would therefore be considered a Northeastern company which affiliates them with the excellence of Boston industrial production.
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which statement describes a main advantage of using cash over other forms of payment
The main advantage of using cash over other forms of payment is that its eliminates the possibility of overspending.
How does cash eliminates overspending?While doing a physical transaction, there will not be a situation of overspending because the person can not purchase more than the cash value he/she has on him/her.
Hence, the main advantage of using cash over other forms of payment is that its eliminates the possibility of overspending.
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The ames and johnson partnership allocates profits and losses 80% to ames and 20% to johnson. smith enters the partnership and receives a 25% share of profits and losses. what share of profits and losses does ames now share
Ames will share a profit and loss of 60% after the changes in partnership.
What is a partnership?When two or more than two individual comes together to establish a business and participate in decisions making by sharing profit and loss refers to a partnership.
Working note for Ames shares -
Ames share in the company = 80% = 80/100
Johnson share in the company = 20% = 20/100
The share of new partner Smith = 25/100
Remaining share = 1 - 25/100 = 75/100
Now, Ames New share = 75/100 × 80/100
= 60/100
= 60%
Therefore, 60% share of profits and losses will be shared by Ames in current.
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Those who oppose corporate social responsibility believe that Multiple choice question. businesses cannot succeed in societies that fail it is using investors' money in ways they did not intend benevolence is the highest virtue businesses who are socially responsible will earn more
Those who oppose corporate social responsibility believe that it is using investors' money in ways they did not intend. Thus the correct answer is B.
What is corporate social responsibility?Corporate social responsibility is referred to as an initiative taken by an organization to protect environmental values and surroundings by eco-friendly and minimum risk strategy in business operations.
This activity focuses on minimum use of natural resources in the business operations and decisions making of the business.
These types of organizations practicing CSR will focus on strategies that do not create harm to the environment and encourage sustainable business practices to provide better experiences to stakeholders of the business.
Therefore, option B which is using investors' money in ways they did not intend is the appropriate answer.
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A ________ is a collection of tasks, steps, or activities that are performed, usually in a specific order, and result in an end product, such as a good or service. Select one: a. Six Sigma Project b. process c. Six Sigma Methodology d. goal
Answer:
b
Explanation:
A process is a collection of tasks,steps,or activities that are performed
Economists believe that people's wants are:
Economists believe that the wants of people are infinite.
What is want in economics?
These are the basic needs of people. In the field of economics it is believed that the wants of people are too numerous.
People have so many needs and the resources that are required to fulfill them are limited. This is the concept of scarcity.
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A company incurred the following costs for a new delivery truck: Purchase price $110,000 Sales tax 7,000 Delivery charge from seller's location 1,600 Special racks for storage 3,000 Normal repairs to the truck before it was used for the first time 1,100 Signs painted on the truck 2,000 Insurance on truck before it was used for the first time 3,000 What is the cost of the delivery truck
127,700
The answer I gave is the total of incurred charges.
Tell me about a time a customer wanted one thing, but you felt they needed something else. How did you approach the situation, what were your actions and what was the end result?
The consumer's purchase and decision-making process may be inconsistent at some stage, and the salesperson can help him or her by applying effective sales strategies.
What is a sales strategy?These are techniques used by a company to influence the consumer to make the purchase, this can occur through negotiation, empathy and demonstration of the seller's expertise in the subject, which will help the consumer to resolve their doubts and generate confidence to make the purchase.
Therefore, it is essential for the seller to identify the consumer's profile and needs, to approach him effectively and help him make the purchase.
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31. If a company initially records the purchase of supplies to the supplies expende account, the mount of the adjusting entry made at the end of an accounting period will be equal to
We can actually deduce here that the amount of the adjusting entry that was made at the end of an accounting period will be equal to the supplies on hand at the end of the period.
What is accounting period?An accounting period is actually known to be the period of time that a particular accounting function is covered. It can be a fiscal year, quarterly, monthly or even weekly.
We see here that the amount of the adjusting entry that was made at the end of an accounting period will be equal to the supplies on hand at the end of the period.
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Santiago was excited to find out that he was accepted at the college of his choice, but knew that he would need financial aid to pay for it. Luckily, he was approved for a government grant. What does this mean for Santiago
This means that Santiago can go to the college as he is provided with the financial support.
What is the meaning of Government Grant?The financial grant given the government of any level such as the federal level, State level or Local level to provide some funds to useful projects is known as Government Grant.
According to the above scenario, Santiago is provided the government grant now he can attend the college.
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Supporters of a minimum wage argue that it can increase wage rates without causing significant unemployment in which type of labor market?
Supporters protest that the wage rates can be increased without causing any significant unemployment are usually referring to the low pay labor market.
What is a wage?A wage is the money compensation for the services obtained by a labor, this wage is based on rates these rates can be hourly, per piece or per day.
In such a market even if wage rates are increased the unemployment is not significant and is in fact beneficial for the labor working on a low wage.
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A negative net present value indicates that the project’s return is ________.
A negative net present value indicates that the project’s return is net loss
What is a net present values?A net present values is a total sum of money that is currently available. It may be in terms of assets or revenue generated.
When there is a negative net present value, it means the revenues generated is lower that the cost of a project. This invariably leads to a loss for a particular company.
Hence a negative net present value indicates that the project’s return is net loss
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Whatever strategic approach is adopted by a company to deliver value, it nearly always requires a. that management undertake formal planning sessions with functional departments to ensure productivity improvement. b. the identification of strengths and weaknesses within the company. c. matching corporate identity with the corporate culture in order to integrate effort and build sales momentum. d. performing value chain activities differently than rivals and building competitively valuable resources and capabilities that rivals cannot readily match. e. constant efforts to thwart entry of new rivals and their attempts to create differentiated products with unit costs above price premium.
The strategic approach adopted by a company to deliver value, it nearly always requires performing value chain activities differently than rivals and building competitively valuable resources and capabilities that rivals cannot readily match.
What is value chain?A value chain analysis is the process of knowing the main and support activities that add value to a product and seek ways to reduce costs or increase differentiation.
Hence, the strategic approach adopted by a company to deliver value, it nearly always requires performing value chain activities differently than rivals and building competitively valuable resources and capabilities that rivals cannot readily match.
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The marketing concept that relates to the idea that the entire organization must be focused on customer satisfaction is called the:
The marketing concept that relates to the idea that the entire organization must be focused on customer satisfaction is called the: service orientation.
What is service orientation?This is the strategy that businesses would take in order to ensure that they put their customer satisfaction on a high pedestal.
The goal is to be able to meet and deliver the needs of the consumers even before they are articulated by the consumers.
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a country's gross domestic product would exceed its gross national product when the ____________.
A country's gross domestic product would exceed its gross national product when the net of income of resident oversees and income earned by foreign residents is negative.
What is GDP and GNP?Gross national product (GNP) is the sum of GDP, income earned by residents from overseas investments less income earned by foreign residents.
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
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The authority that employees are given to swiftly solve customers’ problems is referred to as _______.
The authority that employees are given to swiftly solve customers’ problems is referred to as empowerment
What is empowerment?Empowerment is the process of given an individual all it takes to stand alone.
It could be knowledge transfer or money or authority and it can also be used in problem solving.
Therefore, the authority that employees are given to swiftly solve customers’ problems is referred to as empowerment
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The Instant Pot electric pressure cooker was introduced in 2010 and had a slow start, but word of mouth from social media and influential bloggers created an explosive growth in demand for the versatile multi-cooker. Competitors such as Ninja and Crock-Pot pressure cookers have entered the market and prices have begun to stabilize for Instant Pot. What stage in the product life cycle would the Instant Pot be
The stage in the product life cycle of the Instant Pot would be "growth stage".
Stages in product life cycle:There are four stages in the life cycle of a product in the market which are-
Take-off stage or introduction,Growth stage or shake-out stage, Maturity stage and Decline.The characteristics of Growth stage are-
Increasing sales, customers and profit.Greater competition from fellow companies. As rival companies release similar products, the competition is frequently strong during the growth period. The product will move into the growth stage if it maintains its success and continues to satisfy market demands. Price undercutting in the growth stage is typically uncommon because businesses in this stage can boost revenue by luring in new clients.The said product can be confirmed to be in the growth stage because it exhibits higher growth in demand by social media marketing. Also, it shows there was a rise in the rival companies Ninja and Crock-pot pressure cookers.
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when quantity demanded increases at every possible price, the demand curve has
When quantity demanded increases at every possible price, the demand curve has: shifted to the left.
What is quantity demand?Quantity demand can be defined as the amount of goods that consumer are ready to buy at a particular period of time.
According to the law of demand the higher the demand the lower the price and the higher the price the lower the demand.
Therefore when the demand of a product in the market increase this means that demand curve has move or shift to the left.
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A firm will have constant profits of $100,000 per year for the next four years, and the interest rate is 6 percent. Assuming these profits are realized at the end of each year, what is the present value of these future profits
Answer:
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Explanation:
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An Office Manager uses a Periodic Review Inventory System: they check the inventory in their Office Supply Closet once every 10 days, placing an order with their supplier depending on the inventory level in the closet. This week, the manager has counted 140 post it notes in the closet. They have already placed an order with a supplier for 300 post it notes that should arrive in 3 days. What is the Office Manager's Inventory Position
There are 440 postings available in the inventory for office managers. it keeps the manager's position stable.
What is an inventory system?Software for tracking inventory levels, orders, sales, and deliveries is called inventory management software. It can be used to construct a work order, bill of materials, and other documents connected to production in the industrial sector.
The inventory position is determined using the following formula:
= Current stock counted in the closet + prior supplier orders
where,
In-room post are=140
Ordered=300
Now the inventory is calculated as :
140 Post+ 300 post
= 440 post
Hence, the position of mangers inventory is 440 posts.
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