The definition of market equilibrium states that at the _______________, the quantity of labor demanded by employers will equal the quantity supplied.
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The definition of market equilibrium states that the quantity of labor demanded by employers will equal the quantity supplied at an equilibrium wage.
What is an equilibrium?The point at which the forces of demand and supply are equal from both the sides, and there is an expression of a perfect competition in the market, such point is known as an equilibrium.
Hence, option B holds true regarding equilibrium.
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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.
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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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When a firm makes choices between a cost or value position to achieve competitive advantage, it is primarily involved in:
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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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A consumer contest is an example of Group of answer choices sales promotion. public relations. personal selling. indirect selling. social media.
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In marketing, an example of a Sales promotion is a consumer context.
What is a Sales promotion?This refers to strategy employed by a firm who uses a campaign or offer to increase the consumer;s interest or demand in its product
Because the consumer context involves making relevant offers when the customer is poised to make a purchase, this is an example of Sales promotion.
Therefore, the Option A is correct.
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The consumer contest is SALES PROMOTION.
SALES PROMOTION is a methodical way a company sells its product to target customers.It requires the company to check its customer demands the company also offers a discount to the customer to gain their trust and confidence. It also helps in making long-term relationships with their customer.The correct answer is option A.
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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
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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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The marketing concept that relates to the idea that the entire organization must be focused on customer satisfaction is called the:
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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: 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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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
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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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Economists believe that people's wants are:
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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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the saving component of financial planning focuses on long-term security and includes:
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The saving component of financial planning focuses on long-term security and includes a regular savings plan for emergencies.
What is financial planning?Financial planning can be described as the process of evaluating a person's present income and future financial situation using currently available data to forecast future asset values, earnings, and withdrawal schedules.
Long-term financial planing serve as the foundation for the creation of short-term plans and budgets later in the financial planning process.
The saving portion of financial planning emphasizes long-term security and includes a consistent savings plan for emergency expenses.
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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
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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 quantity demanded increases at every possible price, the demand curve has
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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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Which best explains why international trade agreements are beneficial for developing economies?.
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The authority that employees are given to swiftly solve customers’ problems is referred to as _______.
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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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which statement describes a main advantage of using cash over other forms of payment
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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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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
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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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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
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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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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
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Answer:
b
Explanation:
A process is a collection of tasks,steps,or activities that are performed
When accounting for a long-term construction contract under IFRS, if the percentage-of-completion method is not appropriate, the seller should account for revenue using:
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When accounting for a long-term construction contract under IFRS, if the percentage-of-completion method is not appropriate, the seller should account for revenue using "cost recovery method".
What is cost recovery method?According to the "Cost Recovery Rule," any excess cash value (cost basis) over premium payments that results from a partial withdrawal of cash or a policy surrender is taxable income.
Calculation for cost recovery method includes:
the product's operating expenses, such as those for hardware, software, and labour, should all be added up.Analyse whole revenue, regardless of whether a client made a lump-sum payment or several instalments.To calculate the profit, deduct the cost of products from whole sales.To know more about the lump-sum payment, here
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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?
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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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Beau, a fashion design company, organizes an online contest. Participants are asked to design women's apparel to be posted on a social media website where its members can vote and provide feedback. Based on those votes, Beau will announce the winner and offer that individual a job at its firm. In this scenario, Beau is involved in _____. a. crowdsourcing b. tagging c. brandjacking d. blogging
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Based on those votes, Beau will announce the winner and offer that individual a job at its firm. In this scenario, Beau is involved in crowdsourcing.
What does Crowdsourcing mean?
Crowdsourcing is the practice of turning to a body of people to obtain needed knowledge, goods or services.
The term crowdsourcing is a combination of crowds and outsourcing and was coined in 2006 by Wired magazine author Jeff Howe in his article "The Rise of Crowdsourcing."
As the term implies, crowdsourcing is when an entity -- whether an individual or an organization -- requests specific resources from a group of people (the crowd). Businesses, individuals and organizations of all kinds have used this process to solicit ideas and raise money as well as consolidate and promote information.
These entities leverage the internet, social media and purpose-built platforms to elicit and receive the knowledge, goods or services they're seeking. This allows them to engage with a broader spectrum of sources than they would if they had used employees, suppliers and other traditional sources of expertise via conventional routes of engagement.
Thus, we can say that the correct option is A.
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A forecast that addresses the business cycle by predicting planning indicators is.
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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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a(n) ______ team is a group of experienced people from different areas of business who join together to form a managerial team with the skills needed to develop, make, and market a new product.
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Entrepreneurial team is a group of experienced people from different areas of business who join together to form a managerial team with the skills needed to develop, make, and market a new product.
What is Entrepreneurial team?Entrepreneurial team serves as the team that come together to form a team of managers so that can carry out research to work on a new product.
They are usually from different areas of business with necessary skills for the work.
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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?
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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 country's gross domestic product would exceed its gross national product when the ____________.
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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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A company that is based in boston is a ____ company
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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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Within a ________________________ economy, we often see both producers and consumers responding to the incentive of price changes.
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In a market economy, both producers and consumers respond to the incentive of price changes.
What is the economy?
An economy is an area where products and services are produced, distributed, and traded as well as consumed by various agents.
A market economy is an economic system in which all suppliers and consumers are unhindered by price controls or restrictions on contract freedom and where decisions regarding investment, production, and distribution to consumers are guided by the price signals created by the forces of supply and demand.
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The elements in a defamation case are: a. defamatory statement; falsity; communication; and injury. b. a contract; knowledge of the contract; improper inducement; injury. c. false or misleading fact statements; statements in commercial advertising; likelihood of harm. d. duty; breach of duty; proximate causation; and damages.
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The elements in a defamation case are defamatory statement; falsity; communication and injury. Thus the correct answer is A.
What is defamation?The act of defamation is applied when the public appearance of an individual in terms of reputation, respect, and image got damaged by a third party person.
The element of a defamation case includes-
A statement that spoils the image of an individual.the passing of any false information about an individual to the public.This causes damage to individuals' social presence. When the case is presented in court it is noticed that injury has been made to individuals as they received mental stress and public hatred.Learn more about defamation, here:
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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
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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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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.
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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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what is the type of occupation of densist
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Answer:
Dentist is an occupation related to dental/tooth disease.
Explanation:
It is an occupation related to dentistry which is in the field of health.
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
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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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