When taxes and the foreign sector are excluded from revenue, every penny spent on a good or service becomes income for one of the factors of production as it is the input cost for factors of production, and none of the revenue is allocated to taxes or trade.
The factors of production include land, labor, capital, and entrepreneurship. When we purchase a good or service, the money we spend goes towards paying for the resources that were used to produce that good or service.
For example, if we buy a shirt, the money we spend goes towards paying for the land that was used to grow the cotton, the labor that was used to sew the shirt, the capital that was used to purchase the sewing machines, and the entrepreneurship that was used to start and run the business.
Without taxes and the foreign sector, all of the money spent on a good or service goes directly towards paying for the factors of production.
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a broad objective of human resource management is to of all workers in an organization.group of answer choicesoptimize the usefulnessminimize the downtimescrutinize the personnel filestandardize the benefits
A broad objective of human resource management is to of all workers in an organization are- standardize the benefits. In this case Option D is correct.
The department of a company tasked with finding, selecting, hiring, and training job applicants is known as human resources (HR).
The management of employee terminations, compensation, and benefits is handled by the human resources department.
Any laws that might affect the company and its employees must be kept up to date.
Payroll and benefits administration are traditional HR administrative tasks that many businesses frequently outsource.
familiarity with human resources (HR)
The HR department is a vital component of the business regardless of size. Its responsibilities include boosting employee output and protecting the company from any issues that might arise within the workforce.
Compensation and benefits, hiring, firing, and staying current with any laws that may apply are just a few of HR's duties.
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which stage requires that team members feel they are a part of the team for further progression in group development to occur? group of answer choices performing forming storming inclusion
The stage of group development that requires team members to feel like they are part of the team for further progression is the "norming" stage.
During this stage, team members begin to establish norms, or guidelines for behavior, and develop cohesion as a group. This stage is important because it helps team members establish a sense of identity and purpose within the group, which can lead to increased motivation, commitment, and cooperation. Once the team has successfully navigated the norming stage, they can move on to the performing stage, where they are able to effectively work together to achieve their goals.
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Complete qquestion:
Which stage requires that team members feel they are a part of the team for further progression in group development to occur?
a. forming
b. storming
c. norming
d. performing
suppose that real gdp per capita in the united states is $50,500. if the long-term growth rate of real gdp per capita is 1.6% per year, how many years will it take for real gdp per capita to reach $101,000?
We must increase the real GDP per capita from its present level of $50,500 to $101,000. Consequently, at a growth rate of 1.6% year, it will take roughly 43.75 years for real GDP per capita to reach $101,000.
How to calculate GDP per capita?The rule of 70 can be used to calculate the approximate number of years required for a particular growth rate of real GDP per person to double. According to the rule of 70, the time it takes for a variable to double is roughly equal to 70 divided by the yearly growth rate (expressed as a percentage). This rule allows us to calculate the estimated time it will take for a person's real GDP to double at a rate of growth of 1.6% per year, which is 43.75 years (70 divided by 1.6). We must double the existing level of $50,500 in order to achieve a real per capita GDP of $101,000. As a result, at a 1.6% annual growth rate, it will take roughly 43.75 years for real per capita GDP to reach $101,000.We must increase the real GDP per capita from its present level of $50,500 to $101,000. Consequently, at a growth rate of 1.6% year, it will take roughly 43.75 years for real per capita GDP to hit $101,000.
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Infill Land Development Company is in financial difficulty. The company has an 18 -acre parcel of land approved for development with a current up to date independent appraised value of $3,630,000. The 18 acres of land originally cost Infill Development $1,450,000. Infill has a loan outstanding with the Bank of Walnut Grove in the amount of $3,415,000. On July 1, 2020, the board of directors of the bank agreed to accept the land currently valued at $3,630,000 in full settlement of the $3,415,000 loan. Instruction Prepare the journal entries required for both the Bank of Walnut Grove and the Infill Development to record the settlement of the outstanding loan.
A journal entry acts as a record of a commercial transaction in your company's books. In double-entry accounting, each transaction necessitates at least two journal entries.
What is journal entry?Journal entries in an accounting book serve as a record of financial activities for an organization. A completely documented journal entry includes an exact date, the amounts to be debited and credited, an explanation of the event, and a unique reference number.
Every business transaction is recorded in the Journal, sometimes referred to as the Journal of Primary Entry. The contents of these simple journal entries are then transferred to the different books of accounts.
Infill development settled loan aginst sale of land value of $3,630,000.
Infill development earned profiit of $1,450,000 on settlement of $3,415,000 loan against land value of $3,630,000.
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in job order costing system, costs for each job is accumulated. in job order costing system, costs for each job is accumulated. true false
The false statement is D. In process costing, the total cost of each unit is found by dividing the total factory costs by the number of units completed.
Process costing is a method of cost accounting used in the manufacturing industry to determine the cost of a product at each stage of the production process. In this method, the costs are assigned to the products produced in each process, rather than to individual units. The cost of each process is divided by the number of units produced during that process, resulting in a cost per unit. The aim is to determine the cost of each unit of product produced and to identify the cost drivers for each stage of the production process.
The process costing method is particularly useful for companies that manufacture a large number of identical or similar products. This method helps to track the costs involved in producing the products, including direct materials, direct labor, and overhead costs. It provides managers with a better understanding of the production process and allows them to identify opportunities for cost reduction and efficiency improvements.
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Complete Question:
Which of the following statements is false?
a. In job-order costing, costs are accumulated by job order.
b. In process costing, costs are accumulated by the department.
c. In process costing, the cost per unit in a department is found by spreading the period's manufacturing costs over the production activity.
d. In process costing, the total cost of each unit is found by dividing the total factory costs by the number of units completed.
e. In job-order costing, the unit cost is found by dividing the job's total cost by the job's total units.
the loss of consumer surplus for those buyers of the good who continue to buy it after the tax is imposed is group of answer choices $1. $1.5. $3. $2.
Option B. $1.5. The loss of consumer surplus after a tax is imposed is the difference between the amount that consumers are willing to pay for a good and the price they actually pay after the tax.
In this case, the tax increases the price of the good, leading to a decrease in the quantity demanded. Consumers who continue to buy the good after the tax must pay a higher price, resulting in a loss of consumer surplus. The loss of consumer surplus is equal to the difference between the price consumers are willing to pay and the higher price they must pay after the tax. In this scenario, the loss of consumer surplus is $1.5.
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Which federal agency established during the new deal guarantees bank deposits up to a certain amount against loss? a. federal deposit b. insurance corporation securities and exchange commission c. social security administration d. tennessee valley authority
The Federal Deposit Insurance Corporation is a federal organisation created during the New Deal that protects bank deposits up to a specific amount against loss (FDIC).
In order to protect depositors in the event that their bank fails, the Federal Deposit Insurance Corporation (FDIC) is a U.S. government organisation that was founded in 1933 during the New Deal era. In times of economic instability, the FDIC lowers the risk of bank runs by guaranteeing bank deposits up to a particular amount against loss. This helps to retain public confidence in the banking system. The agency's goal is to keep the U.S. financial system stable and the public's confidence by protecting deposits, vetting and monitoring financial institutions for safety and soundness, and mitigating the effects of bank failures. The FDIC does not rely on tax payer money to fund its insurance operations; instead, it is supported by premiums paid by financial institutions that are covered.
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fc.04 it could be said the forecasts drive the planning process, the lining up of resources to support those plans. which purchasing/investment decision would you feel most comfortable making without having some sort of related forecast?
buying goods for the office Which purchase or investment decision do you feel most confident making without any kind of corresponding forecast?
What is an investing decision and an illustration?Both long-term and short-term investments are available. The purchase of production-related machinery is an illustration of a long-term capital choice. As it influences the company's long-term earnings, this is significant. Stock levels, inventories, and other factors affect short-term investments.
What are the top three investment choices?Capital planning and long-term investment choices 2. The choice of capital structure and financing 3. The Dividend Choice 4.
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who typically coordinates a project when one functional area plays a dominant role, or has a dominant interest, in a project being executed with a functional organization structure? multiple choice question.
The projectized form of mission management structure is in many instances used when one practical area performs a dominant function in completing the undertaking or has a dominant interest in the success of the project.
Which of the following is generally the duty of a mission manager?This consists of placing and managing consumer expectations, developing a distinct task plan, defining the scope of the project and assigning crew contributors to particular tasks.
The projectized shape of venture management shape is commonly used when one purposeful vicinity performs a dominant role in completing the undertaking or has a dominant activity in the success of the project.
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https://brainly.com/question/21648646#SPJ4For each of the following companies, specify whether each company would be more likely to use job costing or process costing a. Janitorial services company b. Soup manufacturer c. Commercial plumbing contractor d. Toothpaste manufacturer e. Catering service f. Shipbuilder g. Company providing Web design services h. Medical practice of six doctors and four physician assistants i. Soft drink bottler j. Movie studio k. Plastic bottle manufacturer l. Architect m. Temporary staffing agency n. Oil refinery
Company providing janitorial services; For each of following businesses, indicate whether it'd be more probable to use process costing or job costing.
Which businesses employ process and job costing?Job order costing can be used by enterprises as in white-collar sector of the economy, such as law firms, accounting firms, and private investment firms, to handle specific client accounts. For instance, accounting firms may view every client as a separate task.
Who among the following businesses is most likely to employ process or work order costing?Response and justification A medical clinic, option A, is the correct response. Given that it provides its clients with specialized and one-of-a-kind services, a health care clinic is most likely to adopt a job-order costing system.
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industry analysis is primarily concerned with a corporation's question 17 options: internal environment. societal environment. task environment. economic environment. sociocultural environment.
Industry analysis is primarily concerned with a corporation's task environment. Because it aids in making crucial judgements about the market or a product, the task environment of a company is the main focus of industry analysis. The answer is OPTION C.
Finding possibilities and risks for corporation's in a competitive setting is the learning purpose for the industry study. They must to be able to understand how the numerous forces at play in an industry either increase or decrease the likelihood of survival. A strategic technique for identifying and evaluating the internal and external components of a corporate environment is an environmental analysis, often known as an environmental scan.
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what going-in cap rate should be indicated from recently sold properties that are comparable to apartment arms
The entry cap rate should be quoted from recently sold properties that are comparable to condos, looking at the net operating income (NOI) of the properties.
NOI is the amount of income generated by a property after all operating expenses are paid. To calculate the cap rate, divide the NOI by the sale price of the property. The cap rate is usually expressed as a percentage. The limit rate for comparable properties should be used as a reference value for the analyzed property. This will give a good idea of what the property's expected rate of return should be. The higher the cap rate, the higher the expected return and vice versa.
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what type of insurance would be used for a return of premium rider?
If the policyholder does not pass away while the policy is in force, a return of premium rider enables them to recoup the premiums they have paid during the policy. The term "return of premium life insurance" is also used to describe policies containing this clause.
An ROP term life insurance policy offers a return of premiums paid if you survive past the policy's term in addition to providing a death benefit if you pass away. ROP life insurance may cost more than standard term life insurance due to this added benefit.
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a public good multiple choice is overproduced by the market. experiences the free-rider dilemma. causes government failure. is any good produced by the government.
The correct option is D. A public good Experiences the free-rider dilemma.
A market is any region in which or greater occasions can meet to interact in a monetary transaction—even the ones that do not involve legal gentleness. A market transaction might also moreover comprise goods, services, statistics, foreign money, or any aggregate of those that bypass from one birthday celebration to another.
In elegant, the function of a marketplace is to collect products from scattered resources and channel them to scattered stores. From the factor of view of the seller, dealers channel the call for their product; from the thing of view of the consumer, they bring elements within his obtain. A marketplace is an area wherein buyers and sellers can meet to facilitate the change or transaction of products and services. other examples encompass illegal markets, public sale markets, and economic markets.
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complete Question:
A public good
A. Is any good produced by the government
B. Is overproduced by the market
C. Causes government failure
D. Experiences the free-rider dilemma
Which of the following is most directly related to cyclical unemployment?
a.An increase in the number of new college graduates looking for work
b.An increased use of the Internet for job searches
c. Recessions
d.The age distribution of the country
The correct option is C. Recessions are most directly related to cyclical unemployment.
Unemployment, according to the OECD (Organization for monetary Co-operation and development), is human beings above a specified age (generally 15)not being in paid employment or self-employment however presently available for painting at some point of the reference length.
Unemployment is measured by means of the unemployment fee, that is the range of individuals who are unemployed as a percentage of the labor force (the overall range of human beings hired delivered to the ones unemployed). Unemployment and the status of the financial system can be inspired by means of a country via, for instance, fiscal coverage. furthermore, the monetary authority of a country, which includes the primary financial institution, can affect the availability and price of cash thru its monetary coverage.
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surprise company's total stockholders' equity at the beginning of the year was $500,000. during the year surprise reported the following: net loss of $75,000. stock issued in exchange for land totaling $200,000. collections of accounts receivable $100,000. dividends declared and paid totaling $5,000. what is surprise's total stockholders' equity at the end of the year?
Stockholders' Equity is the sum of the company's retained earnings, common stock and additional paid-in capital. So the Surprise's total Stockholders' Equity at the end of the year is $720,000.
Total stockholders' equity at the end of the year = Beginning stockholders' equity + Issued stock - Net loss - Dividends declared and paid
Total stockholders' equity at the end of the year = $500,000 + $200,000 - $75,000 - $5,000
Total stockholders' equity at the end of the year = $720,000
Therefore, Total Stockholders' Equity at the end of the year $720,000.
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jim has $1,000 of salary and $100 of dividend income this month. this month he also has rent and utilities of $300 and he spent $200 on groceries and $100 on clothing. what is jim's net cash flow this month?
Jim's net cash flow this month is $500.
What is cash flow?Cash flow (CF) is the change in the amount of money that a company, institution, or person has. The phrase is used in finance to refer to the volume of money (currency) produced or spent over a specific period of time. There are numerous types of CF, and they have numerous significant applications in conducting financial analysis and managing businesses. All of them will be thoroughly covered in this guide.
Both running a business and performing financial analysis involve a lot of cash flow. In fact, it ranks among the most significant metrics in all of accounting and finance.
Cash inflow = 1000+100
= $1100
Cash outflow= 300 +200+100
= $600
Net cash flow = 1100 -600
= $500
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how much do the half-time performers get paid at the super bowl?
The NFL doesn't actually pay artists in the Super Bowl halftime show.
What values would the Super Bowl promote?The word "Super Bowl" was coined by the late Kansas Chiefs owner Lamar Hunt, who thought the moniker was enough. According to Sports Illustrated, Lamar's proposal was "motivated by his son's Super Ball" toy.
The Super Bowl is called what for?Lamar Hunt, the illustrious owner of the Kansas City Chiefs, is credited with formally naming the third Super Bowl. Legend has it that Hunt had the idea for the Super Ball whenever the league was searching for a less complicated name for such event since he was aware that his daughter owned a Super Ball toy.
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if job candidates must be able to lift 40 pounds to be allowed to advance to the next stage of the hiring process, lifting ability is what type of measure?
Lifting capacity is a physical test if job seekers must be able to lift 40 pounds in order to move on to the next stage of the hiring process. It evaluates a candidate's physical ability to carry out the duties of the position.
The criterion for lifting is a test of physical fitness, more particularly, a test of physical fitness for the profession. This kind of test determines whether a job applicant has the physical skills required to carry out the fundamental duties of the position securely and proficiently. Physically demanding occupations including manufacturing, construction, and warehouse work frequently require job-related physical ability tests. These procedures are used to make sure that candidates can fulfil the physical demands of the work without endangering themselves or others. The lifting capacity requirement in this situation assures that the job applicant can safely lift the weight necessary to carry out the essential duties of the position.
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location a has a fixed cost of $400,000 and a variable cost of $13.50 per unit. location b has a fixed cost of $650,000 and a variable cost of $12 per unit. what is the break-even quantity? a. 166,667 units b. 256,000 units c. 122,648 units d. 192,626 uni
The break-even quantity is a.166,667 units for location a and location b.
The contribution margin (revenue per unit minus variable cost per unit) is equal to zero at the break-even point.
To find the break-even quantity, we need to determine the number of units that must be sold in order for the total revenue to equal the total cost.
To find the break-even quantity, we need to determine the point where the total cost equals total revenue. This occurs when:
Total Cost = Total Revenue
Total Cost = Fixed Cost + (Variable Cost per unit x Quantity)
Total Revenue = Price per unit x Quantity
Let x be the break-even quantity, then we have:
For location a:
Total Cost = 400,000 + 13.5x
Total Revenue = xP
For location b:
Total Cost = 650,000 + 12x
Total Revenue = xP
Setting the total cost equal to the total revenue, we get:
For location a:
400,000 + 13.5x = xP
For location b:
650,000 + 12x = xP
We need to solve for x, so we can equate the two equations:
400,000 + 13.5x = 650,000 + 12x
Simplifying, we get:
1.5x = 250,000
x = 250,000 / 1.5
x = 166,667
Therefore, the break-even quantity is 166,667 units for location a and location b.
If the revenue per unit is higher than the variable cost per unit, the break-even quantity will be lower, and if the revenue per unit is lower than the variable cost per unit, the break-even quantity will be higher.
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a bond that pays interest annually has a 5.25 percent promised yield and a price of $1,040. annual interest rates are now projected to fall 50 basis points. the bond's duration is six years. what is the predicted new bond price after the interest rate change? (do not round on intermediate calculations.)
Using the modified duration formula, the bond's modified duration is 5.55. Given the change in interest rates, the predicted new bond price is $1,088.61.
Using the modified duration formula, we can calculate the approximate percentage change in bond price given a change in interest rates:
% Change in bond price = -Modified duration * Change in interest rates
Since the bond has a duration of six years, we have:
Modified duration = 6 / (1 + 0.0525) = 5.66
If interest rates fall by 50 basis points, the new rate will be 5.25% - 0.5% = 4.75%.
Using the percentage change formula, we get:
% Change in bond price = -5.66 * (-0.005) = 0.028
To find the new bond price, we can multiply the percentage change by the old price and subtract the result from the old price:
New bond price = $1,040 - (0.028 * $1,040) = $1,011.20
Therefore, the predicted new bond price after the interest rate change is $1,011.20.
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if average household income increases by 50%, from $40,000 to $60,000 per year, the quantity of rooms demanded at the rivers from rooms per night to rooms per night. therefore, the income elasticity of demand is , meaning that hotel rooms at the rivers are .
An elastic demand changes significantly in quantity demanded in response to a price change.
How to calculate elasticity of demand?1. Rises, from 150 to 200
2. Income elasticity of demand = % change in quantity demanded / % change in income
% change in quantity demanded = (200 - 150)/150*100
= 5000/150
= 33.3%
% change in income = 20%
Income ED = 33.3/20 = 1.67
3. Regular items are in higher demand due to rising incomes, which also applies to Big Winner hotel rooms.
4. falls, 150 to 50
5. Cross price elasticity = %change in quantity demanded / %change in price of other good
% change in quantity demanded = (50-150)/150*100 = -33.3%
% change in price of airplane ticket = 20%
Cross price elasticity = -33.3/20 = -1.67
6. Complements because they are jointly used. To reach hotel, person has to travel from airplane.
7. Increases; elastic
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which of the following statements is incorrect? a. by influencing interest rates, the fed is able to influence the amount of money that corporations and households are willing to borrow and spend. b. the fed's monetary policy is intended to influence u.s. economic conditions. c. the fed's monetary policy affects the supply of loanable funds, which affects interest rates. d. all of these statements are true.
When the Fed tightens the money supply, it increases the interest rate and decreases the amount of goods and services that people want to buy at a particular price point.b. the fed's monetary policy is intended to influence u.s. economic conditions.
Reducing income inequality is the right response (option B). The Federal Reserve is referred to as the American central bank. The Federal Reserve, as the nation's monetary authority, has what is known as a "dual mandate"—a set of goals. a growth in real GDP when the economy is on the horizontal section of the aggregate supply curve, but without significant inflation. How much commercial banks charge one another for short-term loans is influenced by the fed funds rate. Because borrowing costs increase with a rising rate, banks and other financial organisations may be less eager to borrow money.
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10. which of the following processes of scope management process defines what work will and will not be included in the project? a. collect requirements b. define scope c. create work breakdown structure d. verify scope e. control scope
The scope management process consists of the following steps, which determine the work that will and won't be part of the project: a. gather requirements.
What information has to be in the scope management plan?Your project brief, a list of the project's requirements, and any anticipated deliverables should all be included in this document. A control measure, which is a procedure for change requests and helps stop scope creep, might be included in your scope plan document.
What duties should the scope management strategy include?The context management plan is an outline that outlines how the team will draft the project scope, develop the WBS, confirm that the project's deliverables have been met, and manage requests for project scope revisions.
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suppose that the equilibrium price of blackberries is $3 per pound, and the price of black raspberries (a substitute for blackberries) increases. what happens in the market for blackberries? the demand curve for blackberries shifts to the right, resulting in an increase in both the equilibrium price and quantity. an excess demand for blackberries at $3 per pound results in a new equilibrium price that is less than $3 per pound. an excess supply of blackberries at $3 per pound leads to an increase in quantity demanded and a decrease in quantity supplied. the demand curve for blackberries decreases, reducing the equilibrium price and raising the equilibrium quantity.
The correct answer is: excess demand for blackberries at $3 per pound results in a new equilibrium price that is less than $3 per pound.
When the price of black raspberries increases, consumers will tend to switch to blackberries as a substitute, leading to an increase in the demand for blackberries. As a result, the demand curve for blackberries shifts to the right, causing an excess demand for blackberries at the current equilibrium price of $3 per pound. In response, the price of blackberries will rise to a new equilibrium level, but it will be less than $3 per pound as the quantity supplied by the market adjusts to meet the increased demand. Therefore, the correct answer is that an excess demand for blackberries at $3 per pound results in a new equilibrium price that is less than $3 per pound.
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Which business custom do the MINT countries of Mexico, Indonesia, Nigeria, and Turkey all have in common? a) following stict agendas for business meetings b) being punctual for business meetings c) avolding alcohol while dining d) discussing politics e) shaking hands
The correct option is e i.e., shaking hands is the business custom do the MINT countries of Mexico, Indonesia, Nigeria, and Turkey all have in common.
What are the conventions in global business?International business customs are actions, conduct, or standards of communication that people in different nations observe. For instance, while people in other nations may greet each other with air kisses during business meetings, Americans often shake hands.
What three types of business customs are there?You should be aware of three categories of corporate customs: cultural imperatives, cultural choices, and cultural exclusives. Cultural imperatives are norms that, in order to succeed, you must follow. Relationship building is an illustration of a cultural necessity.
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if mortgage rates rise from 4% to 5%, but the expected rate of increase in housing prices rises from 5% to 9%, are people more, or less, likely to buy houses?
People are less likely to buy houses if mortgage rates rise from 4% to 5%, but the expected rate of increase in housing prices rises from 5% to 9%.
This is because the higher mortgage rate increases the cost of the loan, while the higher expected rate of increase in housing prices makes it less attractive to invest in a home. Are people more or less likely to purchase homes if mortgage rates increase from 5% to 10% but the anticipated rate of increase in property prices increases from 2% to 9%? Because the real interest rate that must be paid has decreased from 3% to 1%, more people are now likely to buy homes. Due to increasing mortgage rates restricting people's ability to borrow, homebuyers should be cautious not to overextend themselves and be ready for the chance that house values may decline from their current high levels.
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what are three primary reasons for the popularity of online buying in all three kinds of organizational markets? multiple select question.
There are several reasons for the popularity of online buying in all three kinds of organizational markets (B2B, B2C, and C2C), but three primary reasons are:
What are organizational markets ?Convenience: Online shopping offers customers the freedom to shop whenever they want, from anywhere, without having to go to a real store. For working professionals who might not have the time to visit actual establishments during regular business hours, this is especially crucial.Savings on overhead costs like rent, utilities, and staff allow internet businesses to offer products at lower rates than those found in traditional locations. Additionally, customers can save money on transportation-related expenses including petrol, parking, and public transportation.Access to a larger assortment: Online shopping gives clients worldwide access to a larger selection of goods and services. This is crucial for companies that need particular goods or services that might not be offered locally.
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An example of a strategic operations management decision is the choice of where to locate. a. True b. False
True is the response. The decision of where to site a company is one of strategic operations management because it can greatly affect the company's success.
The accessibility of raw materials, labour costs, transportation expenses, the cost of doing business, the cost of acquiring customers and suppliers, and even government laws, can all be impacted by a company's location. Therefore, before choosing a certain site, firms must carefully weigh the benefits and drawbacks of each. Businesses must take into account not only their immediate needs but also their long-term strategies and objectives because the location decision may have long-term effects. This choice is essential to operations management because of the potential for wide-ranging effects it can have on the cost structure, productivity, and competitiveness of the company.
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james went shopping with only $60 on him. he wants to buy a new pair of jeans and a pair of shoes. each item costs exactly $60, so he can only purchase one of the two. this scenario directly illustrates the basic concept that
The correct answer is the basic concept that when resources are scarce, people face trade-offs. A trade-off is where one thing increases, and another must decrease.
What is trade-off?A trade-off is a situational choice that includes diminishing or dropping one quality, quantity, or belongings of a hard and fast or layout in go back for profits in different aspects.
Tradeoffs stem from boundaries of many origins, most effective a sure quantity of items can healthy right into a given space, so a complete field should eliminate a few gadgets so as to be given any more, and vessels can deliver some huge gadgets or more than one small gadgets.
Tradeoffs additionally normally check with unique configurations of a unmarried item, along with the tuning of strings on a guitar to allow unique notes to be played, in addition to an allocation of time and interest closer to unique tasks.
The idea of a tradeoff indicates a tactical or strategic preference made with complete comprehension of the benefits and drawbacks of every setup.
An financial instance is the choice to spend money on stocks, that are unstable however deliver exceptional ability go back, as opposed to bonds, that are normally more secure however with decrease ability returns.
An economics a trade-off is expressed in phrases of the possibility value of a specific preference, that is the lack of the maximum desired opportunity given up.
A tradeoff, then, includes a sacrifice that should be made to gain a sure product, service, or experience, in preference to others that might be made or acquired the usage of the equal required resources.
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