The correct option is C. The best description of a mixed economy of the government makes all of the economic decisions.
A mixed financial system is variously defined as an economic machine mixing elements of a marketplace financial system with elements of a deliberate financial system, markets with state interventionism, or private agency with a public organization. not unusual to all blended economies is a combination of loose-market ideas and concepts of socialism. at the same time as there may be no single definition of a mixed economy, one definition is set as a mixture of markets with country interventionism, referring especially to a capitalist marketplace financial system with robust regulatory oversight and enormous interventions into markets.
Another is that of lively collaboration of capitalist and socialist visions. but every other definition is apolitical in nature, strictly relating to an economy containing an aggregate of private corporations with a public company. as a substitute, a blended economic system can seek advice from a reformist transitionary phase to a socialist financial system that permits an enormous position for the non-public company and contracting inside a dominant economic framework of public ownership. this could amplify a Soviet-type deliberate financial system that has been reformed to incorporate a more role for markets inside the allocation of factors of manufacturing.
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john is looking at several review websites to help him decide on his next purchase of a computer. at what step in the consumer decision making process is he?
John needs recognition and he is on that step of consumer decision making process.
With an example, what is consumer?Any individual or group who uses a good or service for the last time is referred to be a consumer. Here are some illustrations: a someone who pays a hairstylist to cut and style their hair. corporation that purchases a printer for business purposes.
What exactly is a consumer?A consumer is someone who purchases, ingests, or expends something. Without consumers, an economy would cease to exist. People want beautiful and delicious goods long before there were smorgasbords, shopping centers, or eBay. Thus, the Latin-speaking people created the word consumere, which meant to consume, eat, or waste.
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an individual is being paid to sell securities and is being compensated on a commission basis. the commissions are being paid by both the broker-dealer and the issuer. this person is defined as a(n):
A person is being paid to sell securities as well as being compensated on a commission basis. The amount of the commissions are being paid by both the issuer and the broker-dealer. This person is referred to as "an agent of both the broker-dealer as well as the issuer".
An agent is referred to as any individual who represents a broker-dealer and issuer in effecting or attempting to effect sales or purchases of securities. Such as the case with the given scenario, where an individual sells securities and receives commissions. The individual receives the commissions from both the issuer and the broker-dealer, so as the individual is known as the agent of both the issuer and the broker-dealer.
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Mary is selling chocolate bars to raise money. She earns $3 for each solid milk chocolate bar sold and $4 for each caramel-filled bar sold. If m represents the number of milk chocolate bars sold, and c represents the number of caramel bars sold, which of the following expressions represents the amount of money that Mary has raised
For financial support, Mary is selling chocolate bars. Mary has raised 3m + 4c, which is how much is represented by expressions.
What is the amount of money to get mary ?For financial support, Mary is selling chocolate bars. She receives $3 for each bar of solid milk chocolate sold and $4 for each bar with caramel filling. If m is the quantity of milk chocolate bars sold and c is the quantity of caramel bars sold, then the phrase for the amount of money raised by Mary is 3m + 4c.
Making the slope the coefficient for the associated variable is now all that has to be done. The price of the milk chocolates is $3, so the number 3 is placed before the letter M. The price of the caramel chocolates is $4, so the number 4 is placed before the number 4. There will be no negatives or minus signs in the calculation because both slopes are positive, W .
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during the current year, pacific co. experienced a loss on the sale of equipment that was used to manufacture its products. pacific prepares its statement of cash flows using the direct method. how should pacific report the loss on the sale of equipment on its statement of cash flows?
Based on the company's net income, the operating activities cash flow is adjusted for items that have a different impact on cash than they do on net income. The Propensity Company's income statement for the year ended December 31, 2018, shows a net income of $4,340. This sum appears as Net Income in the Cash Flows from Operating Activities section of Propensity's statement of cash flows.
What is net and gross income?
Depending on whether a corporation or a wage employee is being discussed, the terms gross and net income have various connotations. Gross margin, or sales less cost of goods sold, is the equivalent of a company's gross income.
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According to Hazlitt, which of the following would be consequences of the United States placing a new tariff on foreign sweaters, resulting in the creation of a domestic sweater industry
Trade barriers raise the price of imported goods. Domestic customers end up paying more as a result of domestic producers not being forced to reduce their prices in order to keep up with the escalating competition.
In what ways does a tariff affect things?Tariffs raise the prices and profits of domestic producers while lowering their sales and profits. Tariffs drive up the price of products and services while cutting down on domestic consumers' excess.
What kind of impact would a tax on a nation that imports a certain good have on that nation's economy?It should go without saying that a tariff also generates revenue for the government of the importer (revenue function). The government and producers of the importing country thereby benefit from tariffs through tax collections and production surpluses at the expense of its consumers through higher pricing.
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all of the following are advantages of process (functional) layouts except which? multiple choice question. individual incentive programs are possible. handle a variety of goods or services readily adapt to high volume output less vulnerable to equipment breakdowns than product layouts.
All of the following are advantages of process (functional) layouts except for: Individual incentive programs are possible.
Give the reason for your answer:All other options are advantages of the process (function) layout. Process layouts can flexibly handle different goods and services, are easily adapted to mass production, and are less prone to equipment failure than product layouts. However, in the process layout, jobs are grouped by function, not by product. This means that it is more difficult to set individual production rates and implement individual incentive programs.
A process layout is a plant configuration that groups operations of similar nature or function. Therefore, it is sometimes called a functional layout. Their purpose is the processing of goods or the provision of services with varying processing requirements.
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created when a seller or lessor indicates the goods will conform to:
- all affirmations of fact or promise made about the goods
- any description of the goods
- any model or sample of the goods
Choose matching term
statement of opinions (puffing)
creation of an express warranty
remedies of an express warranty
warranty of no security interests
It is referred to as the construction of an express warranties when a seller or lessor states that the products will adhere to all statements of fact or promises made regarding the goods, any description of the goods, and any model or sample of the goods. The discussions between the parties in a sales transaction result in an express warranty.
Express warranties are frequently stated in a contract's written terms. A seller's "express" warranty is made possible by:
Any factual representation or assurance pertaining to the sold products is included in the basis of the agreement between the parties, resulting in a guarantee that the goods will fulfill the representation or assurance.Any description of the sold items becomes a component of the basis of the agreement between the parties, establishing a warranty that the goods will match the description.Any sample or model that is used as the foundation for the parties' agreement generates a warranty that the goods will match the sample or model.To learn more about express warranty, please refer:
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The complete question is:
An express warranty is created when a seller or lessor indicates that the goods will confirm to:
a) all affirmation of fact or promise made about the goods;
b) any model or sample of the goods;
c) any description of the goods;
d) any one of the above;
e) none of the above.
Choose matching term
statement of opinions (puffing)
creation of an express warranty
remedies of an express warranty
warranty of no security interests
how was latin america linked to the global economy? what was the impact of them being connected to the world?
Latin America exported food products and raw materials to industrializing nations, increasing exports by a factor of ten in the sixty years or so after 1850. In return for these exports, Latin America imported the textiles, machinery, tools, weapons, and luxury goods of Europe and the United States.
What exactly do import and export mean?Selling products and services to another country from one's own country is known as exporting. Purchasing goods from elsewhere and bringing them into your own country is referred to as importing.
Does import indicate sale?Importing is the process of importing items created abroad into a nation for resale. American businesses that purchase goods abroad and bring them into the country for sale or for use in an American-made product are importing.
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rosing, inc., manufactures dog sleds. the company uses direct labor hours as its application base. the predetermined overhead rate for the year was $24.27 per direct labor hour. the estimated manufacturing overhead for the year was $58,248. what was the budgeted number of direct labor hours for the year?
2,400 hours was the budgeted number of direct labor hours for the year.
What is a budget and why is it crucial?
In order to estimate future revenue and expenses, a budget is a financial document. A budget is a tool for keeping track of how and when you make and spend money.
Making a budget is a crucial component of your overall success and security. It enables you to monitor and more clearly comprehend whether the revenue (incoming cash) coming into your company is sufficient to cover its costs.
Which three types of budgets are there?
A budget can be divided into three categories: a surplus budget, a balanced budget, and a deficit budget. The government budget is a financial document that summarizes income and outlays for an entire year.
Predetermined overhead rate = Budgeted total manufacturing overhead cost ÷ Budgeted total level of application base.
Therefore,
= $58,248 ÷ $24.27
= 2,400 hours
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when a product's positioning (speed/accuracy) is updated, what happens to the product's age? it doubles it cuts in half the product receives an age of 0, it becomes brand new nothing
When a product's positioning (Speed/Accuracy) is updated, the product's age It cuts in half.
What is product's positioning?Product positioning is a type of marketing where the advantages of your product are highlighted for a specific target market. Marketers can choose which population to target depending on positive responses to the product through market research and focus groups. Product positioning is the act of determining and conveying the thoughts and feelings you want your market to have about your product. Your team must explain how your product can address the needs of your customers in order for it to be successfully positioned. why it is a superior option than those offered by its rivals.When a product's positioning (Speed/Accuracy) is updated, the product's age It cuts in half.
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the relatively homogenous groups of prospective buyers that have common needs and will respond similarly to a marketing action is referred to as
The relatively homogenous groups of prospective buyers that have common needs and will respond similarly to a marketing action is referred to as: market segmentation
Market segmentation tries to distinguish designated gatherings of buyers to tailor items and marking in a manner that is attractive to the gathering.
Markets can be portioned in more than one way, for example, geologically, demographically, or typically.
Market segmentation assists organizations with limiting gamble by sorting out which items are the probably going to procure a portion of an objective market and the most effective ways to market and convey those items to the market.
With risk limited and lucidity about the marketing and conveyance of an item elevated, an organization can then zero in its assets on endeavors prone to be the most profitable.
Market segmentation can likewise build an organization's segment reach and may assist the organization with finding items or administrations they hadn't recently thought of.
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what are some of the major obstacles encountered when converting to lean/just-in-time operations from traditional methods? (select all that apply.) multiple select question. suppliers may resist for various reasons--frequent deliveries, burden of quality, etc. workers may be uneasy about learning statistics for six sigma process control. management may resist because lean shifts some of their responsibilities to workers. the organization's culture may not be compatible with the lean philosophy.
Because Lean transfers part of their duties to employees, management may object. The Lean philosophy could not be consistent with the organization's culture.
What challenges does lean production face?When implementing lean manufacturing, organisations may encounter the following difficulties: inadequate backing from upper executives. Limited workforce, inadequate staff training, and a lack of suitable tools failure to keep track of development (Insufficient performance data)
What are the two main reasons why lean initiatives fail?Nearly all lean experts concur that top leadership and ownership are the primary causes of implementation failures. In the end, these individuals are accountable for everything that does or does not occur within the business.
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which of the following is not a function served by government?responsesit protects society against outside enemies.it protects society against outside enemies.it provides people with entertainment.it provides people with entertainment.it provides people with economic stability.it provides people with economic stability.it provides order in society.
It provides people with entertainment is not a function served by government.
Hence, Option C is correct
The government participates in providing political direction and in using its executive and regulatory powers. Through its budget bill and related acts, the government offers significant economic policy guidance.
Governments provide the social and legal framework, uphold competition, offer public goods and services, distribute income, account for externalities, and stabilize the economy.
The five main types of power or government used in both historical and contemporary societies—monarchy, democracy, oligarchy, authoritarianism, and totalitarianism—will be discussed and differentiated in this lesson.
7 governmental functions at its core
The provision of public goods, the control of externalities, government spending, the distribution of income, the federal budget, taxation, and social security are all examples of public goods.
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what provision prohibits an insurer from paying a reimbursement to someone other than a policyowner?
A premium waiver for disability is a clause in an insurance policy that states that a policyholder will not be obliged to pay premiums if gravely wounded.
A premium waiver is a clause that permits the insured to avoid paying premiums during a period of incapacity that lasts a certain amount of time. A premium waiver is a clause that permits the insured to avoid paying premiums during a period of incapacity that lasts a certain amount of time. The premium waiver for disability continues in force for the duration of the insured's disability. The premium waiver for disability continues in force for the duration of the insured's disability.A premium waiver is a clause that permits the insured to avoid paying premiums during a period of incapacity that lasts a certain amount of time.
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Suggest a reason that following the competition is not the best model for creating a promotional budget.
According to the statement the competition's goals may be very different than your goals. You won't likely succeed in your aims by copying the marketing tactics of your rivals.
What is the model for creating a promotional budget?Acquiring customers. Retaining customers. Turning customers into brand ambassadors. When this comes to advertising, there are three main goals to keep in mind: to inform, influence, and remind people about business brand and products. Therefore, the following five guidelines for effective advertising can be summed up:
Establish relevance to target audience ,Exhibit uniqueness from competition ,Prove credibility through product characteristic or use ,Add to consumer knowledge ,Execute through relevant touchpoints.
Living fearlessly should be your greatest goal in life. Accept life for what it is and be ready to handle any situation. That begins by overcoming each of your fears one by one time. Determine which worries are now preventing you from moving forward and begin addressing them.
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Receiving payment of a portion of an accounts receivable will___ a. not affect total assets. b. increase liabilities. c. increase stockholders' equity d. decrease net income.
The correct reply is choice a. Have no impact on whole assets. When cash is received from a purchaser on account, the corresponding quantity is reduced.
What takes place when you receive accounts receivable?On a trial balance, accounts receivable is a debit until the customer pays. Once the patron has paid, you may savings debts receivable and debit your cash account, when you consider that the money is now in your bank and no longer owed to you. The ending balance of debts receivable on your trial balance is commonly a debit.
Accounts receivable is a modern-day asset that results when a business enterprise reports revenues from sales of merchandise or the imparting of services on credit score using the accrual foundation of accounting. The effect on the company's balance sheet is an increase in present day assets and an make bigger in owner's or stockholders' equity.
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Pavlak surveyors has beginning current assets of $1,360, beginning current liabilities of $940, ending current assets of $1,720, and ending current liabilities of $1,080. What is the change in net working capital?.
Net working capital is the difference between a company's current assets and current liabilities.
To calculate the change in net working capital, we need to determine the change in both current assets and current liabilities, and then subtract the change in current liabilities from the change in current assets.
Change in current assets = ending current assets - beginning current assets = $1,720 - $1,360 = $360
Change in current liabilities = ending current liabilities - beginning current liabilities = $1,080 - $940 = $140
Change in net working capital = change in current assets - change in current liabilities = $360 - $140 = $220
So the change in net working capital for Pavlak Surveyors is $220. This means that the company's net working capital increased by $220 over the period in question.
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in this phase, loose ends are tied and the project is transitioned to a daily work environment. select one: a. define b. measure c. analyze d. improve/design e. control/verify
(e) Control/Verify is the last phase of the DMAIC process. This phase is when the team checks to make sure the changes have been implemented and that the desired results have been achieved.
What is the purpose of the Control/Verify phase of the DMAIC process?The purpose of the Control/Verify phase of the DMAIC process is to check that the changes have been implemented and the desired results have been achieved. This phase also involves monitoring the process over time to ensure that the results are sustained and that any changes or adjustments needed are identified and addressed.
What is the first phase of the DMAIC process?The first phase of the DMAIC process is the Define phase. This phase is used to identify the project objectives, scope, and resources needed to complete the project. It is also used to create a plan for achieving the desired results.
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the absolute value of the price elasticity of demand for gasoline in the short run has been estimated to be 0.1. if a supply disruption causes the price of gasoline to increase, how will that affect total expenditures on gasoline in the short run, all other things equal?
All other things being equal, the demand for gasoline will remain relatively constant, but overall spending on gasoline will increase if a Middle Eastern war increases the price of oil (from which gasoline is produced).
When does the price elasticity of demand have an absolute value lower than 1?Demand is considered to be "inelastic" if the price elasticity in absolute terms is less than 1 (one). This indicates that the quantity required is less responsive to price fluctuations and so fluctuates by a smaller percentage than price changes.
Why is gasoline for short-term use less elastic than fuel for long-term use?Due to the fact that we must constantly buy gas to keep our automobiles operating, gasoline is less elastic in the short term than it is in the long term. We may eventually switch to hybrid or more fuel-efficient vehicles, take the bus, or walk more. These options aren't immediately accessible though.
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nims defines as the exchange of information systematically among principals who have or may have a need to know certain information to carry out specific incident management responsibilities?
Coordination is the exchange of information systematically among principals who have or may have a need to know certain information to carry out specific incident management responsibilities.
When more than one response agency is in charge of the situation, ICS's Unified Command application is employed. Cross-political jurisdictional incidents occur. Each community's major response agencies' management staff may take part in a unified command.
The public information officer is in charge of communicating with the general public, the media, and/or other agencies who need information about an occurrence.
The Event Commander (IC) is in charge of managing the situation as a whole and chooses which posts on the General Staff or Command should be filled in order to keep the incident under control and give it the required attention.
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Which type of business would be most likely to use a job order costing system? A. a law firm specializing in injury law b. a beverage manufacturer c. an electric car producer d. a wood milling company
A law firm specializing in injury law Is type of business would be most likely to use a job order costing system
What is job order costing system?The cost of manufacturing each product is determined using the job order costing approach. When a manufacturer creates a range of unique goods and has to determine the cost of performing each task individually, they typically use this costing method. Accounting technique known as "job costing" records expenses and income by "job" and allows for uniform reporting of profitability per work. An accounting system must allow job numbers to be allocated to specific items of expenses and revenues in order to support job costing. One minor work that a company might price using job order costing is a customer's custom furniture order.Job order costing can be used to handle specific client accounts by enterprises in the white-collar sector of the economy, such as law firms, accounting firms, and private investment firms. Accounting firms, for instance, may view every client as a separate job.To learn more about job order costing system refer to:
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If elaine has 4 exemptions and makes $520 per week, what will her income tax withholding be according to the following table?.
The income tax withholding would be $2
Since Elaine makes $520 /week, we want to look at the row where Column A = 500 and Column B = 600
Because 520 > 500 but 520 < 600
Now since she has 4 exemptions, on this 500- 600 row, go over to the column under "4" and you will find the number "2"
this means $2 withheld per week
For workers, keeping is how much federal income tax withheld kept from your check. How much annual expense your manager keeps from your ordinary compensation relies upon two things:
The sum you procure.
The data you give your manager on Form W-4.
For assist with your portion, you might utilize the Tax Withholding Estimator .You can utilize the Duty Keeping Assessor to gauge your 2020 annual expense. The Expense Keeping Assessor thinks about that gauge to your ongoing duty keeping and can assist you with choosing if you want to change your portion with your boss.
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Joaquin is worried about his company locating a manufacturing facility in Indonesia because of the unstable government which could devastate their business. Which type of risk is affecting Joaquin's decision
Joaquin is concerned that his company would establish a manufacturing unit in Indonesia, where the unstable government could completely destroy their operations. Joaquin's choice is influenced by political risk.
What is political risk?Political risk is the possibility that a country's political unrest or changes could have a negative impact on an investment's results. A change in the executive, judicial, legislative, or military branches of government could cause instability that would have an impact on investment returns. Political risk, commonly referred to as "geopolitical risk," increases in importance as the investment time horizon lengthens. They are regarded as a specific kind of jurisdiction risk. Political risks are notoriously difficult to measure because there aren't many case studies or large sample sizes available when talking about a single country. Through other governmental entities or international organisations, certain political risks may be insured against.
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jane johnson was a famous rock star but retired 20 years ago and withdrew from the public eye. while she was a musician, she stole a very valuable diamond ring from another musician. she quickly returned the diamond, was not arrested for theft, and only her brother knew about the incident. last week, spy magazine published an article revealing the theft. johnson sued spy magazine for private facts. what will be the result of the suit?
Johnson will lose because passage of time does not change the story's newsworthiness.
What is the law on private facts?Similar to the tort of defamation, consent is a defence to a lawsuit for the publication of private information. If the plaintiff gave verbal or written consent for the revelation of the disputed facts, the defendant will not be held accountable. Beyond what has been granted, no publication is permitted. Additionally, before their name or photograph is utilised, the plaintiff who first gave authorization has the ability to revoke it.
A second argument is that the statute of limitations for the claim has expired. The phrase here refers to the maximum amount of time a plaintiff may postpone bringing a claim. In situations requiring disclosure, the statute of limitations normally starts to run from the date of the first publication of the infringing facts.
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Which of these lenders would be the least likely to lend money for an investor to purchase an apartment building?A. Savings bankB. Life insurance companyC. SyndicateD. All of the above
D. All of the above
Savings banks typically focus on personal and small business banking, and may not have the resources or expertise to lend large amounts of money for commercial real estate investments such as apartment buildings. Life insurance companies also tend to focus on their core business of providing insurance and may not offer commercial real estate lending as a service. A syndicate is a group of investors who pool their money together to make a large investment, and as an entity in itself would not lend money.
It's worth noting that while all of the above may not be directly involved in commercial real estate lending, they may be able to connect or refer customers to other lenders who specialize in this type of financing. Therefore, it's important to research and explore all options when seeking funding for a commercial real estate investment.
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Organizations form temporary alliances called syndicates when they need to handle transactions that are too big for any one company to handle on its own.
When many investment banks collaborate to issue new security to the public, this practice, known as "syndication," allows for the pooling of resources and the distribution of risk among the participating companies. Underwriting syndicates, banking syndicates, and insurance syndicates are only a few examples of the various kinds of syndication that exist.
Industry-specific companies form syndicates. To develop a new medicine, two pharmaceutical corporations may syndicate their R&D teams. A syndicate of real estate firms may oversee a huge development. Banks can form syndicates to lend big amounts to one party. If the business prospect offers a good return, companies may form a syndicate (RoR).
No single organization can handle enormous projects efficiently. Building a stadium, expressway, bridge, or railroad often requires this. In these cases, companies may join a syndicate to bring their specialized skills to the project. Syndicates are taxed as partnerships or corporations.
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The right way of asking the question is:
Which of these lenders would be the least likely to lend money to an investor to purchase an apartment building?
A. Savings bank
B. Life insurance company
C. Syndicate
D. All of the above
which of the following statements regarding the different types of executive coaching is correct? select one: a. resolution coaching helps workers overcome a problem with their job performance. b. strategic coaching promotes change in workers that can change when a new worker is sought for a job position and can not be found. c. development coaching is ideal in situations of change in which a worker should perform a new task. d. retention coaching prevents future problems and is responsible for training/developing workers to prevent a problem.
The following statements regarding the different types of executive coaching is correct resolution coaching helps workers overcome a problem with their job performance.
What does a job well done mean?Job performance refers to how well a person does their job. According to Campbell (1990), job performance is a means to an end—a goal or set of goals—within a position, a role, or an organization, but not the actual results of the actions taken there.
How are work results evaluated?scales of graphic ratings. An employee's relative performance in particular areas is typically rated using a graphic scale that uses sequential numbers, like 1 to 5 or 1 to 10.
feedback from all sides.
Self-Evaluation.
Objective-based Management (MBO).
Checklists.
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2. what is the return on the portfolio that is equally invested in the two assets (i.e. stock and risk-free asset)?
The return on the portfolio that is equally invested in the two assets is the weighted average of the returns of the two assets, where the weight is the proportion of the portfolio invested in each asset.
How dangerous is a two-security investment portfolio?The volatility of a two-asset portfolio depends on the weightings allocated to each asset, the standard deviations of those assets, and the correlation (or covariance) between their returns. Correlation across asset hazards becomes a more relevant determinant of portfolio risk as the number of assets in the portfolio grows.
When are needed and expected returns coincide?If both parties' expectations are equal, then both returns should be equal in equilibrium. Fair market value is calculated using the same rate of return for both expected and necessary returns (as opposed to investment value to a specific investor). The internal rate of return (IRR) based on the cash flows is not a 'expected return.
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what term is used to describe the percentage change in quantity demanded divided by the percentage change in price?.
The quantity demanded of one good (good A) divided by the percentage change in the price of another item constitutes the cross-price elasticity of demand (good B.)
It is calculated as the percentage change in quantity needed divided by the percentage change in price. A good or service with a high price elasticity of demand will see a substantial change in quantity demanded with just a little change in price, whereas one with a low price elasticity of demand will see only a moderate change in quantity demanded with a significant change in price.
price elasticity of demand formula is accurate. The premium automobile market for a certain brand serves as an example of price elasticity of demand.
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suppose a firm sells a good at a perfectly competitive price of $5. the equilibrium wage rate is $10. the first worker it hires produces five units. two workers produce a total of nine units. if it hires two workers, the marginal revenue product for the second worker is .
In this case, the marginal revenue product of the second worker is (9 units x $5 price) - (5 units x $5 price) = $20.
What is marginal revenue product?Marginal revenue product (MRP) is an economic concept that measures the contribution of a single unit of labor to a firm's total revenue. In other words, it is the additional revenue generated by a unit of a particular resource, such as labor or capital, when it is employed by a firm.
The marginal revenue product (MRP) of the second worker is the extra revenue generated by the second worker, which is equal to the difference between the total revenue generated by the two workers and the total revenue generated by the first worker. In this case, the MRP of the second worker is (9 units x $5 price) - (5 units x $5 price) = $20. This represents the additional revenue generated by hiring the second worker, which is equal to the wage rate of $10.
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the price of bread has decreased by 5 percent, leading to an increase in the quantity demanded of butter by 1 percent. the cross-price elasticity of demand between bread and butter is:
The price of bread has decreased by 5 percent, leading to an increase in the quantity demanded of butter by 1 percent. The cross-price elasticity of demand between bread and butter is -0.2.
What is Cross elasticity of demand?
Cross elasticity of demand describes how changes in one good's pricing might impact how much of another is demanded. Depending on whether the two items are complementary, substitutable, or unrelated to one another, this connection may change.
What is the cross-price elasticity of demand formula?
The following equation can be used to determine the cross-price elasticity of demand between two different goods or services: Cross price elasticity, where products A and B are different offerings, is calculated as percentage change in demand of product A divided by percentage change in price of product B.
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