The marketplace is composed of businesses that ship their products directly to consumers without using wholesalers, distributors, or other middlemen that play a role in other retail channels.
The statement is True
A marketplace is what?
An online store or platform known as a marketplace offers numerous benefits to both buyers and sellers. An online marketplace is similar to an e-commerce website or mobile application where sellers and buyers can meet and exchange goods and services. The website is in charge of managing all payments, processes, and transactions.
Definition. The marketplace is defined by the Oxford Dictionary as "the activity of competing with other businesses to buy and sell goods, services, etc."
The owner of the online store, however, does not have an inventory of every item that he is offering. By offering customers the goods of other companies, the online store is merely facilitating the transaction. Online marketplaces like Ama-zon, e-Bay, and Aliba-ba are excellent examples.
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One explanation for the downward slope of the aggregate demand curve is that when the price level increases, which of the following will decrease?(a) real value of assets (wealth)(b) prices of foreign goods(c) prices of substitute goods(d) expectations of future prices(e) government deficit
One explanation for the downward slope of the aggregate demand curve is that when the price level increases, the following will decrease real value of assets (wealth).
How does the aggregate demand curve's descending slope make sense?The aggregate demand curve displays the sum of consumption, investment, government purchases, and net exports at each price level for any given period. It slopes down because to the effects of wealth on consumption, interest rates on investment, and net exports on global commerce.
What among the following reasons why the aggregate demand curve slopes downward as the price level rises?If prices rise, we feel poorer and buy fewer things, hence option an is the correct response. Explanation: As a result of the law of demand's existence, the demand curve slopes downward. It claims that the relationship between a good's price and the quantity that consumers desire from it is inverse.
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Which of the following are included in the four major growth strategies?
(check all that apply.) multiple select question.
O Market development
O Market analysis
O Product development
O Market penetration
c. Product development . he following are included in the four major growth strategies A growth strategy is an organization's plan for overcoming existing and future problems.
in order to achieve its expansion goals. Increasing market share and revenue, acquiring assets, and upgrading the organization's goods or services are all examples of growth strategy aims. These are the following: Product, Placement, Promotion, and Price. Whereas the Four Ps focus on audiences, channels, and price, the Ansoff Matrix provides a more comprehensive perspective of markets and employs the older Four P framework inside each of the four Ansoff quadrants. Organic growth is comprised of four primary strategies. Market penetration, market development, product development, and diversification are examples of these tactics. Market Expansion: This approach entails selling more of a company's current products or services to its existing client base.
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The cost of a plant asset includes the following: multiple select question. O purchase price O disposal cost O depreciation O expense cost to prepare it for use
The cost of a plant asset includes the following - purchase price, expense cost to prepare it for use, depreciation (not disposal cost).
The purchase price of the asset is the amount paid to acquire the asset, this can include taxes and any other charges. The expense cost to prepare it for use is the cost incurred to ready the asset for its intended use, for example, installing a machine in a factory. Depreciation is an accounting method used to allocate the cost of a tangible asset over its useful life, it is not an actual cash outflow but it needs to be considered in the cost of the asset. The disposal cost is the cost incurred to sell or dispose the asset, it is not considered as part of the cost of the asset.
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T/F : the infant industry argument relies on an assumption that firms can make efficient long-term investments by borrowing money from the domestic or international capital market.
The infant industry argument relies on an assumption that firms can make efficient long-term investments by borrowing money from the domestic or international capital market is false.
The infant industry argument is challenged because it is predicated on the idea that businesses are unable to generate profitable long-term investments through the utilisation of local or foreign capital markets. An infant industry is one that is brand-new, in the early phases of growth, and hence unable to compete with well-established industrial rivals. The baby industry argument is a well-known thesis in international commerce and contends that young sectors must be shielded from foreign rivals until they are mature, stable, and prepared to compete.
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Suppose that some firms in a perfectly competitive industry are incurring negative economic profits. In the long run, the:a) industry supply curve will shift to the leftb) number of firms in the industry will not changec) industry supply curve will not shiftd) number of firms in the industry will increase
In the long run option d- The number of firms in the industry will grow.
meaning they have to accept the market price for their goods or services. If firms are incurring negative economic profits, it means that their total revenue is less than their total cost of production, including normal profit (the cost of the opportunity to invest in another business). This situation is not sustainable in the long run, as firms will not be able to cover their costs and will eventually exit the market. When firms exit the market, the remaining firms will have less competition, which will enable them to charge a higher price, resulting in higher profits. The increased profits will attract new firms to enter the market, which will increase the number of firms in the industry, and this process will continue until the market reaches a state of long-run equilibrium, where all firms are earning only normal profits.
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If the government eliminates an effective minimum wage in a competitive labor market, which of the following is true? A Minimum wage workers will experience no change in hourly pay. B Minimum wage workers will experience a decrease in hourly pay. (C) The number of people employed will decrease because people do not want to work for low wages. D There will be an excess demand for workers. E There will be an increase in the supply of workers.
The correct answer is B- Minimum wage workers will experience a decrease in hourly pay.
When a minimum wage is eliminated in a competitive labor market, the wages of workers who previously earned the minimum wage will decrease.
This is because employers will no longer be required to pay a certain amount per hour and can instead offer lower wages to attract workers. This will result in a decrease in wages for minimum wage workers, as they will be willing to accept less money in exchange for their labor.
Furthermore, the number of people employed in the labor market will decrease as employers will be less likely to hire workers at low wages. Additionally, there will be an increase in the supply of workers as more people will be willing to work for lower wages than before.
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The nation of Kona cultivates coffee beans and cassava, from which all their consumer goods are produced.
In 2010, 100 cups of Mocha Coffee cost $2.00 per cup, 50 quarts of sweet pudding cost $1.5 per quart, and 25 packages of Cassava Leaf salad cost $1.00 per package.
In 2015, 100 cups of MC cost $2.5 a cup, 50 quarts of SP cost $2.2 a quart, and 25 packages of CLS cost $1.2 a package.
The Kona people grow cassava and coffee beans, which are used to make all of their consumer items.
2010: $200 +$75 +$25= $300
2015: $250 + $110+ $30=$390
Which of the following best represents how actual gross domestic product (GDP) is calculated?Real GDP is a measure of a nation's annual economic production that takes inflation into account. The formula used to compute the U.S. GDP is as follows: GDP = C + G + I + NX (where C stands for consumption, G for government spending, I for investment, and NX for net exports).
Which of the following will be factored into the GDP estimate for the current year?Business investment, net exports, individual consumption, and government spending are the main components used to calculate GDP. Payments, acquisitions, and sales of old commodities, intermediate goods, etc. are not transferred in the GDP calculation.
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saturday morning, peter woke up to the sounds of hammering outside his window. he peeked out to see his friendly neighborhood real estate agent pounding a for sale sign into peter's yard. peter then recalled encountering the agent at a block party the night before, during which peter seemed receptive to the idea of having the agent list his home. no agency agreements were signed. what can you say about the agent's behavior? the agent's actions were appropriate but, absent a written contract, peter cannot be compelled to compensate the agent if the house sells. the act of placing a sign in peter's yard without a signed contract in place is grounds for suspension or revocation of license. the agent's actions were appropriate as the conversation between the agent and peter the night before constituted oral express agency. placing a sign in peter's yard was ill-advised but does not rise to the level of behavior that could result in suspension or revocation of license. submit answer
Placing a sign in Peter's yard without a signed contract is grounds for licence suspension or revocation.
A contract is an agreement that specifies precise, legally enforceable rights and obligations for two or more parties that have reached an agreement. A contract often involves the transfer of goods, services, or money, or the promise to transfer any of these items at a later date.
In the event of a contract violation, the aggrieved party may seek legal remedies such as damages or contract revocation. The principle that agreements must be upheld is the cornerstone of contract law, which is the domain of the law of obligations related to contracts.
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Creative blocking tends to occur when people in the agency start "thinking like the client," especially if the client is a fact-based thinker. True or false?
When agency staff members begin to "think like the client," especially if the client is a fact-based thinker, creative block usually results. It is real.
What is the fundamental building block for the creative pyramid?lines. For a marketing or advertising campaign, a creative brief is a document that describes the creative strategy and deliverables. A bold, original idea is how it is described. When you notice something of value, show it. Value Mindset is the fourth and final basic mindset in product management. With the value mindset, we aim to provide value to every action, each question we answer, each piece of work we produce, and pretty much everything else.
Simply said, we ought to avoid engaging in activities that don't add value. Providing a conceptual framework for crafting a story from beginning to end, Freytag's Pyramid outlines the five essential stages of a story. They are as follows: Exposition. Steady Action What costs can be incurred and how the product is designed are determined by the desired value and price.
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if two countries are economically identical except that citizens in one country have more leisure time, then the level of gdp
If two nations are equal except for the fact that inhabitants in one country have greater leisure time, the GDP level in both countries will be the same. GDP in real terms.
People want to know if an economy's overall production of goods and services is increasing or decreasing. However, because GDP is gathered at current, or nominal, values, it is impossible to compare two eras without accounting for inflation. two countries are economically identical except that citizens in one country have more leisure time, then the level of gdp GDP in real terms. People want to know if an economy's overall production of goods and services is increasing or decreasing. However, because GDP is gathered at current, or nominal, values, it is impossible to compare two eras without accounting for inflation. nations are equal except for the fact that inhabitants in one country have greater leisure time, the GDP level in both countries will be the same. GDP in real terms.
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a real estate licensee in florida could be found guilty of unauthorized practice of law for preparing which one of the following types of real estate contracts? unset starred question
A real estate licensee in Florida could be found guilty of unauthorized practice of law for preparing any type of real estate contract that involves complex legal issues such as the transfer of title, zoning, or property rights.
What is unauthorized?Unauthorized refers to any activity or action that is done without the proper authorization or permission. It can be considered a criminal act depending on the circumstances, and can also result in civil liability. Unauthorized activities can range from accessing computer systems or networks without permission to breaking into someone else's property. Unauthorized actions are generally illegal and can have serious consequences. In most cases, unauthorized activities are a violation of laws protecting personal privacy, property, and other rights.
A real estate licensee is not qualified to provide legal advice or to interpret the law, so any contract involving these complex matters should only be prepared by a licensed attorney.
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(figure 75-5: model of a competitive market) if there are external costs, a tax imposed on sellers will:
If there are external expenses, a tax levied on sellers will: reduce the equilibrium quantity, according to the figure Model of a Competitive Market.
Which of the following best describes an action that produces a negative externality?If an activity causes costs (damage or discomfort) for others who are not involved, it is considered to have a negative externality. Examples of harmful externalities Air pollution that harms people's health is produced by factories and automobiles. All vehicles slow down as a result of autos approaching congested freeways, which costs other drivers time.
What level of pollution is most beneficial to society?From an economic perspective, the last unit of pollution's marginal benefit must exactly equal its marginal cost for there to be no socially detrimental amount of pollution. The net advantages to society at this level are
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one of the key requirements in offering a dpp to a customer is that the program must be suitable. finra has some specific suitability requirements for dpps. among those is the investor
Investors can gain access to the cash flow and tax advantages of a business venture through a direct participation program (DPP), a pooled entity.
What services do DPPs offer?Investors can gain access to the cash flow and tax advantages of a business venture through a direct participation program (DPP), a pooled entity. DPPs, also referred to as "direct participation plans," are non-traded pooled investments in real estate or energy-related businesses over a long period of time.Understanding that age is an important factor in establishing appropriateness with DPPs is key in this situation. Investments in DPPs are lengthy, risky, and illiquid.Typically, only "accredited investors" are permitted to invest in DPPs. In addition to other requirements, accredited investors must have a net worth of at least $1 million or a salary of more than $200,000 for the two years preceding to investing. Check out SEC Rule 501 for a detailed explanation of an accredited investor.To learn more about direct participation program (DPP) refer to:
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Which of the following are good sources of information to help you assess the outcome of the tablet rollout project? select all that apply.
- customer satisfacton survey data
- feedback from the project retrospective review
- data reports generated by the tablet software
- guest comments overheard by a member of the waitstaff
Option 1st, 2nd and 3rd are correct. Customer satisfaction survey data, Feedback from retroactive project reviews, Data report generated by tablet software.
Developed by the Project Management Institute (PMI), his five phases of project management include conception and initiation, project planning, project execution, execution/monitoring, and project completion. The three main parts of a project plan are scope, budget, and schedule.
A typical project plan consists of: Statement of work, list of resources, work breakdown structure, project schedule, and risk plan. A well-written project plan is one of the key success factors for any project.
The project manager's job at this stage of the project management lifecycle is to keep work on track, organize her team members, manage schedules, and ensure work is completed according to the original plan.
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the cash payment of a $1,090 account payable was posted as a debit to accounts payable and a debit to cash for $1,090.
The trial balance will not match if there’s a distinct difference between the amount posted in debit and the one posted in credit.
The $3,250 purchase of office goods on account was reported incorrectly in the journal as $2,350 debit to Office Supplies and $2,350 credit to Accounts Payable. A trial balance is a secretary worksheet in which the balances of all checks are collected into debit and credit regard column summations that are equal. A company prepares a trial balance periodically, generally at the end of every reporting period. The general purpose of producing a trial balance is to insure that the entries in a company’s secretary system are mathematically correct. A trial balance is frequently the first step in an inspection procedure, because it allows adjudicators to make sure there are no fine crimes in the secretary system before moving on to more complex and detailed analyses.
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which of the following developments from the 1800s emerged from ideas most similar to those expressed in the excerpt?
The development that emerged from ideas most similar to those expressed in the excerpt is the rise of the socialist movement.
The socialist movement, which emerged in the 1800s, was heavily influenced by the ideas of Karl Marx and Friedrich Engels. They advocated for the establishment of a socialist society in which the means of production are owned and controlled by the working class. This idea is closely related to the excerpt's statement that "the government should be responsible for ensuring that all have what they need to live a good life."
Furthermore, socialism also advocates for the elimination of social classes and the redistribution of wealth, which aligns with the excerpt's call for a society where "all have equal opportunity" and where "all have an equal chance to succeed."
Additionally, socialist movements also emphasized the collective ownership of property and public services that could be shared by all citizens as a means of ensuring that everyone has access to the resources they need to live a decent life. This is closely related to the excerpt's statement that "everyone should have what they need to live a good life."
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Each of the following individuals is eligible to participate in a Keogh plan EXCEPT:
A) an executive of a corporation who receives $5,000 in stock options from his company.
B) a self-employed doctor in private practice.
C) a securities analyst employed by a major research organization who makes $2,000 giving lectures in his spare time.
D) an engineer employed by a corporation who earns $5,000 making public speeches in her spare time.
Each of the following individuals are said to be eligible to participate in a Keogh plan except an executive of a corporation who receives $5,000 in stock options from his company.
Each of the following individuals are eligible in order to participate in a Keogh plan except an executive of a corporation who tends receives $5,000 in stock options from his company. This is because the maximum annual compensation of each employee which can be taken into account under a plan for any year must not exceed $280,000 for 2019.
However, there is no asset limitation for participation in HUD assisted-housing programs. However, the definition of annual income includes net income from the Keogh plan.
Hence, option A is correct.
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If Massimports and Co needs Argentine Peso to purchase 1 million pesos worth of leather goods from Argentina, given an exchange rate of $1 = 20 Argentine Peso, it will need to exchange _______ on the foreign exchange market. $20 million $200,000 $50,000
Argentine pesos are worth 3 Canadian dollars. The Canadian dollar's exchange rate in terms of the Argentine peso.
The term "conversion" is most frequently used in foreign exchange markets to refer to the ratio between two currencies. It demonstrates how much of one currency is required to swap for another's worth in that currency. Given the previous, allow: Rate of the Canadian Dollar to the Argentine Peso is given as CAD/ARS. The rate of the Canadian Dollar in US Dollars is $0.90. The Argentine peso is now worth $0.30 in US dollars. Here, because the US dollar serves as both the Canadian dollar's and the Argentine peso's common variable currency (i.e., the currency whose amount can change for one unit of another currency), the Canadian dollar's exchange rate in terms of the Argentine peso is given by: CAD/ARS is equal to (CAD/USD) / (ARS/USD). CAD/ARS equals $0.9/$0.03 ARS/CAD = 3.
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___________ are a way for a business to raise capital through federally registered and underwritten sales of shares in the company.a. Venture capital funds b. IPOsc. Skunkworksd. Bootleggings
Out of the choices that have been given above, it can be stated to conclude that the IPOs are a way for a business to raise capital through federally registered and underwritten sales of shares in the company. Therefore, the option B holds true.
The IPO, or an Initial Public Offer, can be generally interpreted as the process of offering the shares of a company to the public for subscribing at an offer price having a particular lot size. The IPOs are offered on exchanges and are beneficial for the listing of a company's stock on the securities exchange.
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I need the answer please help
As given that the taxable state income for the year is $70,000, the applicable tax rate is 5.5%, thus, the tax payable is $3,850.
What does a progressive tax means?A progressive tax is one in which the tax rate rises in proportion to the taxable amount. The term progressive refers to the manner in which the tax rate rises from low to high, resulting in a taxpayer's average tax rate being less than the person's marginal tax rate. The term can refer to either individual taxes or an entire tax system.
We are given that the taxable state income for the year is $70,000. Note that for this salary range, the tax rate of 5.5% is applicable.
Tax payable is computed as:
= $70,000 * 5.5%
= $3,850
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A soft peg policy typically allows the exchange rate to move up and down by relatively small amounts in _________________, but seeks to avoid extreme short-term fluctuations.
A. the market exchange
B. the medium run
C. the long run
D. the short run
A soft peg policy typically allows the exchange rate to move up and down by relatively small amounts in D. the short run , but seeks to avoid extreme short-term fluctuations.
A soft peg is a type of exchange rate policy in which a country's central bank intervenes in the foreign exchange market to maintain the value of its currency within a certain range, but allows it to fluctuate within that range. The central bank will typically buy or sell its own currency in the market to influence the exchange rate. A soft peg policy typically allows the exchange rate to move up and down by relatively small amounts in the short run, but seeks to avoid extreme short-term fluctuations. This type of policy is often used by countries that want to maintain some level of exchange rate stability, but also want to retain some flexibility to respond to economic changes.
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The topics of forecasting, inventory management and resource planning is associated with which part of supply chain and operations management?A) process strategy and analysis B) managing customer demand C) designing logistics networks D) statistical process control
The topics of forecasting, inventory management and resource planning is associated with managing customer demand of the supply chain and operations management, which means option B is the right answer.
Supply chain and operation management is the process of optimization of product from its creation till its delivery which will include its sourcing, storage and transportation. The supply chain covers all the economic, social and environmental aspects also. The demand management ensures the supply chain to turn its focus towards customers' needs while maintaining profit margins. Managing customer demand helps in understanding the present needs of the customer and thus optimization can be resourced in a meaningful direction so as to achieve operational excellence.
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The Gillette Company is known for producing innovative products. The company’s willingness to conduct consumer research and obtain information on what customers want in a shaving product has allowed it to continually hold a first-mover advantage. The following is a list of innovative shaving products introduced by Gillette:
Product Year Produced
Safety razor 1901
Twin-bladed razor 1972
Twin-bladed disposable razor 1976
Pivoting-head razor 1979
Pivoting-head disposable razor 1980
Razor designed specifically for women 1992
Triple-blade razor 1998
Battery-powered razor 2004
Since the Gillette Company had the first-mover advantage in successfully producing the products listed in the case study, which of the following is true?
A. No other company successfully produced a pivoting-head razor before 1979.
B. Other companies successfully produced a triple-blade razor before 1998, but Gillette had a better marketing department.
C. Gillette Company bought the patent for the battery-powered razor from a company that no longer wanted to make the product.
Since the Gillette Company had the first-mover advantage in successfully producing the products listed in the case study, the following statement "No other company successfully produced a pivoting-head razor before 1979" is true.
A razor is a bladed implement usually utilised for shaving body hair. There are several different kinds of razors, including electric, safety, disposable, and straight razors.
Safety razors and electric razors are the two most popular types of razors in use today, despite the fact that they have been present since before the Bronze Age. Numerous Bronze Age cultures have been found to have produced razors. They are typically oval in form, made of obsidian or metal, and have a little tang sticking out of one of the short ends.
Hence the correct option is A
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assume you are heidi ganahl, ceo and founder of camp bow wow, and you are intending to expand your brand to new global locations. if you are expanding into a country that values autonomous leadership, which of the following behaviors is most in line with that perspective? you provide compassionate support when an employee is having difficulty with family issues. you improve safety in the work environment. you involve all employees in all decisions, ensuring that everyone participates in the decision making process. you allow employees to independently implement action plans without the need for approval.
One will provide compassionate support when an employee is having difficulty with family.
Employment is a two-person partnership that oversees the supply of paid employment services. One of the parties, the employer, which can be a corporation, a charity, a cooperative, or any other type of organization, pays the other party, the employee, in accordance with the terms of the contract in exchange for executing the task allocated to them.
Employees labor for pay, which can be in the form of hourly wages, piece rates, or yearly earnings, depending on the nature of the job performed, industry circumstances, and the parties' negotiating strength.
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Econometric studies show a hump-shaped relationship between income levels and pollution levels. Which of these statements reflects that relationship?
A) As an economy grows and income levels rise, initially pollution levels also rise.
B) Decreasing income levels lead to an increase in pollution levels.
C) As an economy grows, pollution levels show a constant increase.
D) Economies that are in turmoil reflect pollution levels that are diminishing.
E) Income levels do not have any correlation with pollution levels.
Is reflective of the relationship Initial increases in pollution levels coincide with economic growth and income levels.
Explain about the pollution levels?Despite increases in airborne levels of particles, carbon monoxide, and fire-related pollutants, national average air quality concentrations remain below the established national criteria.
The Air Quality Index, or AQI, is used to assess the quality of the air. The AQI functions somewhat like a thermometer with a range of 0 to 500 degrees. The AQI, on the other hand, is a technique of displaying variations in the amount of pollution in the air rather than temperature changes.
AQI values between 0 and 50 are considered "good." Air pollution poses little to no risk, and the quality of the air is regarded as adequate. AQI 51–100 is considered to be "moderate." The quality of the air is satisfactory, however a very tiny number of people may have a moderate health concern from some pollutants.
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_____ is the extent to which actually doing a job provides a worker with clear and direct information about how well he or she has performed the job.
Feedback is the extent to which actually doing a job provides a worker with clear and direct information about how well he or she has performed the job.
In the workforce of the construction business, a worker is a person who does physical labour tasks. Workers who make their living via wage work belong to a working class whose only real asset is their labour. Construction of structures including roads, buildings, bridges, tunnels, and railroad lines is an industry that employs employees. Assisting other crafts like operators or cement masons, labourers use hand tools, power tools, air tools, small heavy equipment, and blasting tools. A competent work force is equally as vital as any other component of building, according to the first-century BC engineer Vitruvius. The methods of labourers haven't altered much aside from the introduction of pneumatics.
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There are needs arising for organizations as they set their business strategy and establish their strategic goals. It is critical to align the projects selected with the strategies and goals established. Recognizing organizations may have a number of different needs, there are many projects to consider.
What is a project?
How are projects selected?
Why do you think it is important to evaluate potential projects before proceeding to the formal project management life cycle?
A project brief provides a concise overview of the critical components of a project.
A project is a short-term undertaking with a precise aim or goal, typically starting to bring about a desired change or benefit. Projects are chosen according to how well they fit with the organization's strategic goals and objectives. Before starting the formal project management life cycle, it is crucial to assess new projects in order for the company to decide whether they are practical, worthwhile, and in line with its strategic objectives.
The organisation can more effectively manage resources, prioritise projects, and choose which projects to embark on thanks to this review procedure. It can also assist in identifying potential risks and difficulties connected to a project, enabling the business to create plans to lessen or prevent them.
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When an exterminator is hired to rid a home of termites and fails to do so, extensive damage is done by the insects to the home's deck. The exterminator is required to pay for the necessary repairs.
This is an example of which type of monetary award?
a.) Consequential damages
b.) Nominal damages
c.) Punitive damages
d.) Incidental damages
The exterminator is required to pay for the necessary repairs. This is an example of a consequential damages type of monetary award. So option a. is the correct option.
Consequential damages, otherwise comprehended as civil damages, are damages resulting from the negligence of one party to honor a contractual agreement. The consequential damages description is about consequential damages normally resulting from a violation of contract issues. Consequential damages strive in civil courts over issues of breach of contract. Consequential damages comprise losses that result from arbitrary or indirect losses that result from incidental or indirect outcomes of breach of contract.
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figure Positive Externalities and the Production of Semiconductor Chips. If the socially optimal production of chips is 500, the government could achieve the socially optimal level of production by granting a Pigouvian subsidy of:
A) $5.
B) $10.
C) $15.
D) $20
the government could achieve the socially optimal level of production by granting a Pigouvian subsidy of $20.
what does "subsidy" mean?A government payment made directly or indirectly to people or businesses is called a subsidy. This payment is typically made in cash or through a specific reduction in taxes. In accordance with economic theory, subsidies can be utilised to counteract externalities and market imperfections and increase economic efficiency. A government incentive, sometimes known as a subsidy, is a type of financial support given to an industry with the broad intent of advancing economic and social policy. The phrase "subsidy" can refer to any form of support, including implicit subsidies from NGOs or other sources that are not often associated with the government.
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A restaurant buys fish to offer as a daily menu special. The purchase of the fish by the restaurant is
A. an investment.
B. a consumption expenditure.
C. part of net exports if the fish was caught beyond the U.S. border.
D. an intermediate good.
E. an example of government expenditures on goods and services.
A restaurant buys fish to offer as a daily menu special. The purchase of the fish by the restaurant is (D) an Intermediate Good.
Intermediate Good:
Intermediates Goods are final products or products used in the manufacture of final products, also known as consumer goods. Intermediate products like salt can also be final products, as they are consumed directly by consumers and used by producers to make other food products.
Intermediates are sold between industries for resale or to produce other commodities. These goods are also called semi-finished products because they are used as inputs to become part of the final product.
Intermediates are also known as capital goods because they are essential to the production process. The industry sells these commodities to each other for resale or manufacturing of other commodities. They are transferred to another state when used in the production process.
There are generally three options for using intermediates. Manufacturers can make and use their own intermediates. Producers can also produce goods and then sell them. This is a very common practice across industries. Companies purchase intermediates for specific uses in the manufacture of secondary intermediates or in the manufacture of final products. Inevitably, all intermediate products either become part of the final product or are completely reconstituted during the production process.
Imagine a farmer growing wheat. The farmer sells his crop to the miller for his $100, giving the farmer his $100 value. Miller grinds wheat into flour - secondary intermediate product.
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