The statement is True. It is true that constraints are characteristics of the organization and external environment limiting what a manager can do.
Constraints are factors that limit a leader's ability to make decisions and act. Restrictions can be internal or external to the company. Internal constraints are those that originate within the organization, such as budget constraints, limited human resources, and organizational rules.
External constraints are those that come from outside the organization, such as laws, regulations, customer requirements, or competitors. In either case, these limitations affect decisions and the actions that the manager can take that should be considered when making the decision.
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the cyclically adjusted budget deficit is an estimate of what the budget balance would be if real gdp were
The budget balance is a projection of what it would be if real GDP were equal to potential output, and is known as the cyclically adjusted budget deficit.
"Cyclically adjusted budget balance": What does it mean?
dynamic balance modifications (CAB) Calculating the fiscal balance that would be in place under the current policies if output were equal to potential; alternatively, calculating the gap between the overall balance and the automatic stabilizers.
Why is the cyclically adjusted budget balance more reliable than the actual budget balance in predicting the long-term viability of government programs?It is assumed that the economy would finally reach full employment since the cyclically adjusted budget balance eliminates the business cycle. As full employment is a function of real GDP, the cyclically adjusted budget balance is therefore preferred over the long-term sustainable budget balance.
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in a nonissuer's financial statement audit, an auditor is required to perform procedures to determine the
A need for an audit of financial statements from both issuers and non issuers is that the auditor determine the risk of fraud.
What standards for audits apply to issuers and non-issuers?As a result, two types of entities may require auditing: Issuer: Public companies that register with the SEC and issue securities are these. A legal requirement for the audit. These are private businesses that do not register with the SEC, act as issuers, or sell securities.
What is the auditor's responsibility in a financial statement audit with relation to fraud?The auditor is responsible for determining if any unusual or unexpected relationships found through analytical approaches, including those involving revenue accounts, may indicate the likelihood of a material misstatement caused by fraud.
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The tax planning strategy based on the understanding that the tax law does NOT treat all types of income and deductions the same is the strategy?
The tax planning strategy based on the understanding that the tax law does NOT treat all types of income and deductions the same is the conversion strategy.
Tax law or revenue regulation is an area of legal observation wherein public or sanctioned governments, including federal, national, al and municipal governments (as within the case of the united states) use a body of policies and approaches (laws) to assess and accumulate taxes in a felony context. The charges and merits of the numerous taxes, imposed with the aid of the authorities, are attained through the political method inherent in those bodies of power, and not at once resulting from the real area of tax regulation itself.
Tax law is a part of public regulation. It covers the application of present tax laws on people, entities, and groups, in areas wherein tax sales are derived or levied, e.g. income tax, estate tax, commercial enterprise tax, employment/payroll tax, assets tax, present tax, and exports/imports tax. There have been a few arguments that purchaser regulation is a higher way to engage in huge-scale redistribution than tax regulation as it does now not necessitate legislation and may be extra efficient, given the complexities of tax regulation.
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manufacturers, wholesalers, retailers, service companies, not-for-profit organizations, and government agencies that buy products and services for their own use or for resale, is definition of?
This is the definition of organizational buyer. Individuals who represent a business are known as organisational buyers. These buyers typically take into account both their own preferences as well as the likely preferences of the customers to whom the organisational buyer's business will sell when making purchases.
There are various types of organisational buyers. Resellers are either wholesalers or retailers who purchase goods from one company and resell them to another. For instance, major grocery chains occasionally purchase goods directly from producers and buyers them to final customers. They are the ones with the official power to choose the supplier and determine the terms of the purchase.
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Copper Inc., an existing clothing outlet, decides to shift from direct to online retailing. It offers the same products at a reduced price as it does not have to incur the costs to manage a store. In this case, which of the following patterns of innovative strategies has Copper adopted?
Option c, Reconfiguring the value chain to eliminate activities patterns of innovative strategies has Copper Inc. adopted.
Copper Inc. has decided to move from direct retailing to online retailing, which means it has reconfigured its value chain to eliminate certain activities such as managing a physical store. This change in the value chain has allowed Copper Inc. to reduce its costs and offer the same products at a lower price. The focus of this strategy is to streamline and optimize the company's operations, rather than creating product differentiation, adding new features, or disrupting the market. By eliminating the costs associated with physical eliminate , Copper Inc. has been able to improve its competitiveness and meet the changing demands of the market.
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The Complete Question is:
Copper Inc., an existing clothing outlet, decides to shift from direct to online retailing. It offers the same products at a reduced price as it does not have to incur the costs to manage a store. In this case, which of the following patterns of innovative strategies has Copper adopted?
Forming product differentiation strategies to increase value
Reconfiguring the value chain to eliminate activities
Adding additional product features to increase the product life-cycle
Creating low-end disruptive innovations to decrease competition
Sardin Company begins the month of March with $17,000 of work in process costs from Job 324. Information from job cost sheets shows the following additional costs assigned during March, Apri, and May of 2013: Manufacturing Costs Assigne April Job No. March Ma 324 $26,000 325 326 327 328 20,000 $28,000 $15,000 41,000 11,000 16,000 34,000 $29,000 51,000 Job 324 was completed in March. Jobs 325 and 327 were completed in May, and Job 326 was completed in April. Jobs are sold during the month after completion. Total revenue for jobs sold during the 3-month period is $145,000 Calculate the balances of the work in process Work in process Job 328 85000 Calculate finished goods inventory accounts at the end of May Finish Job 325 63000 Job 327 55000
Job 324 was completed in March, so its Work in Process account balance at the end of March should be $17,000.
During April, Manufacturing Costs Assigned for Job 324 was $26,000, so the Work in Process account balance for Job 324 at the end of April should be $43,000. During May, Manufacturing Costs Assigned for Jobs 325 and 327 were $20,000 and $15,000, respectively.
Since Job 325 was completed in May, the Finished Goods Inventory account balance for Job 325 at the end of May should be $83,000 ($20,000 + $63,000). Since Job 327 was completed in May, the Finished Goods Inventory account balance for Job 327 at the end of May should be $70,000 ($15,000 + $55,000). The Work in Process account balance for Job 328 at the end of May should be $85,000.
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your cellular phone contract is due for renewal and the company offers you a new free phone. since you want to use your new phone, you decide to recycle your old phone. your action
Your cellular phone contract is expected for restoration and the organization offers you another free telephone. since you need to utilize your new telephone, you choose to reuse your old telephone.
your action creates wealth by moving the phone from lower-value use to higher-value uses. option (A) is correct.
Abundance creation is boosted when a thing is of more prominent worth to the client. At the point when the old telephone is reused, it has a higher worth to the organization.
The organization will revamp the telephone and offer it to another client who will expand its utilization. So this activity makes abundance by dragging out the helpful existence of the old telephone.
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This question is not complete , Here I am attaching the complete question:
your cellular phone contract is due for renewal and the company offers you a new free phone. since you want to use your new phone, you decide to recycle your old phone. your action
a. Creates wealth by moving the phone from lower value use to higher value use
b. Destroys wealth since you lose your phone
c. Creates wealth by making you feel richer
d. All of the above
in 2022, which of the following types of income is excluded from gross income? a) unemployment compensation b) income earned illegally c) dividends from foreign corporations d) corporate bond e) interest income f) scholarship used for tuition
In 2022, the following types of income are excluded from gross income:a) Unemployment compensation, b) Income earned illegally, d) Corporate bond,f) Scholarship used for tuition
What is gross income ?Your gross income is the total amount of money you make before deducting taxes and other expenses. You can receive your earned income in a variety of ways, including salary, bonuses, tips, hourly pay, rental income, dividends from stocks and bonds, and interest on savings accounts.
It's important to note that while the above types of income may be excluded from gross income, they may still be subject to taxation in certain circumstances. Additionally, it's important to report all sources of income, even if they are excluded from gross income, as failure to do so can result in penalties and fines.
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Oftentimes consumer research respondents may be unaware of their motives or are unwilling to reveal them when asked directly. In such situations, researchers usse____to delve into the consumers unconscious or hidden motivations
Oftentimes consumer research respondents may be unaware of their motives or are unwilling to reveal them when asked directly. In such situations, researchers use Projective techniques to delve into the consumers unconscious or hidden motivations.
Qualitative market research is frequently pointed toward expanding comprehension of customers' viewpoints and inclinations toward brands, products, ideas, promoting, social issues and other significant themes. Projective techniques are backhanded strategies utilized in qualitative research. These techniques permit researchers to take advantage of buyers' profound inspirations, convictions, attitudes and values.
This is significant in light of the fact that brain research has told us for quite a while that a lot of what drives conduct can be close to home and unreasonable in nature. Somewhat, these profound drivers of conduct lie beneath cognizant mindfulness.
Customers will generally know about their cognizant inspirations and dynamic cycles. Hence, when a researcher straightforwardly asks a shopper for what reason they like a product, favor a brand, or incline toward a contender, reactions would in general be normal and deliberate.
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Consider the decision to read your economics textbook. Which of the four core principles of economics applies to the notion that reading this textbook will help you to establish a solid foundation of understanding economics, which will be beneficial for future courses?A. Interdependence principleB. Marginal principleC. Cost-benefit principleD. Opportunity cost principle
The principle that applies to the decision to read your economics textbook is the Opportunity Cost principle. Here option D is the correct answer.
Opportunity cost is defined as the cost of an action in terms of the best alternative that must be given up. In this case, the opportunity cost of reading the economics textbook is the time and effort you could have spent on other activities, such as leisure or other studies.
By choosing to read the economics textbook, you are making a tradeoff between the benefit of gaining a solid foundation of understanding economics and the cost of giving up the opportunity to do something else.
The Opportunity Cost principle helps individuals and organizations make informed decisions by taking into account the tradeoffs between different options.
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FILL IN THE BLANK. According to your text, a mistake that global firms make when they attempt to take their business global is to believe ___.
According to your text, a mistake that global firms make when they attempt to take their business global is to believe that foreign consumers want exactly the same products that are sold in domestic market. Global expansion is a strategy for growth that entails moving business operations.
Products, and services from one country to another. It is also known as "overseas expansion," "international expansion," and "foreign market." A global business is one that has facilities in multiple countries. This is not the same as an international strategy that sells products all over the world but only has facilities in its home country.
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now imagine that there is a bumper coffee bean crop in south america that lowers price of coffee beans such that market supply increases by 50% at every price. calculate this and report the new market supply in in column l in cells l2 through l17. this column is titled new market supply
The impact of a bumper coffee bean crop in South America that lowers the price of coffee beans and increases the market supply by 50% at every of supply and demand.
If the supply of coffee beans increases dramatically, it is likely that the price will decrease. This is because the increased supply will create an excess of coffee beans in the market supply , and suppliers will need to reduce their prices to sell the surplus. On the demand side, a decrease in the price of coffee beans may attract new consumers who were previously deterred by the higher price. However, it may also discourage existing consumers who are accustomed to paying a higher price for the product. Overall, the change in the market supply will depend on the balance between the increase in supply and the shift in demand. If the increase in supply is greater than the shift in demand, the market will experience a surplus, and prices will decrease further. If the shift in demand is greater than the increase in supply, the market will experience a shortage, and prices will increase.
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The complete Question is:
What is the impact on the coffee bean market when there is a bumper crop in South America?
researchers in the us and china have showed an ai approach that performed response area major trading indices as well as traditional investment portfolio allocation strategies.
Researchers in the us and china have showed an AI approach that performed better than major trading indices as well as traditional investment portfolio allocation strategies.
An effective portfolio strategy is strategic asset allocation. The investor establishes target allocations for different asset classes and periodically rebalances the portfolio.
When the portfolio considerably deviates from the initial settings as a result of different returns from various assets, it is rebalanced to the original allocations.
The target allocations in strategic asset allocation rely on the investor's investment goals, time horizon, and risk tolerance, among other things.
Additionally, as the parameters alter over time, the allocations might also change.
Personal goals, level of risk tolerance, and investment horizon are a few examples of variables that affect an investor's portfolio distribution when making investing selections.
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Which of the following are among the most-imported goods in the United States? (Choose every correct answer.)
TVs
Cell phones
Auto parts
Pharmaceuticals
TVs, cell phones, and Pharmaceuticals are the most common imports into the US. As a result, choices a, b, and d are correct. They export food products and import physical goods.
The United States imports and exports a large number of vehicles, capital goods, and industrial inputs. This is an example of intra-industry trade. Among the types of trade that fall under this category are those involving computers, minerals, TVs, pharmaceuticals, and autos.
Typically, nations import goods or services because their own industries are unable to do so effectively or affordably. Nations may also import goods or raw materials if they cannot be produced inside their own boundaries.
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Which of the following expresses one of the reasons why managing an international business is different from managing a purely domestic business?
-The range of problems confronted by a manager in a domestic business is wider and the problems more complex that those confronted by a manager in an international business.
-International business transactions use the Euro instead of the U.S. dollar.
-An international business does not need to contend with government intervention whereas a domestic business must work within the confines of their local government.
-An international business must find ways to work within the limits imposed by government intervention in the international trade and investment system.
The correct answer is: International companies must find ways to operate within the limits imposed by government interventions in the international trade and investment system.
Running an international company is different than running a domestic company. The investor is doing business in a foreign country that is subject to different laws than the home country. Therefore, investors should familiarize themselves with these guidelines to avoid legal issues. Domestic marketing refers to the conduct of marketing activities within national borders. Marketing to the local market and its reach is limited. Less investment compared to international marketing. We have one country, one language, one culture. Only one currency is used for domestic marketing. International marketing also refers to conducting marketing activities across national borders, and refers to conducting marketing activities in the global market, and its scope is wide. It requires more investment compared to domestic marketing. There are many countries, many languages and cultures. Various currencies are used in international marketing. In international marketing, companies need different types of policies to promote their products.
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Which of the following statements is correct for both an audit of an entity's financial statements and an integrated audit of a nonissuer?
A.
The auditor must test the design and operating effectiveness of key controls.
B.
The auditor must issue an opinion on the entity's internal controls over financial reporting.
C.
The auditor must obtain an understanding of the design of an entity's control structure.
D.
The auditor will issue an adverse opinion when a material weakness is discovered.
The correct answer is B. Auditors are required to express an opinion on the company's internal controls over financial reporting. The audit of the internal control system for financial reporting should be integrated with the audit of the annual accounts.
However, the audit objectives are not the same and the auditor must plan and perform work to achieve both audit objectives. An integrated audit of internal controls over financial reporting and financial statements requires the auditor to design a study of controls to simultaneously achieve the objectives of both audits at the end of the year. Audit of financial statements and internal controls within the company.
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Which of the following is implied by the requirement that a loss should be determinable and measurable to be insurable?I. The loss must be definite as to place.II. The loss must be definite as to amount.A) I onlyB) II onlyC) both I and IID) neither I nor II
The requirement that a loss should be determinable and measurable to be insurable means that both the place of the loss and the amount of the loss must be definite. Option C is correct answer.
In order for a loss to be considered insurable, it must be determinable and measurable. This means that the place and amount of the loss must be definite and clear.
The loss must be definite as to place, which means that the location of the loss must be identifiable and known. For example, if a person wants to insure their car, they must know exactly where the car is located in order to be eligible for insurance coverage.
This is important because different locations carry different levels of risk and the insurer needs to be able to accurately assess the risk to determine the cost of the insurance policy.
The loss must also be definite as to amount, which means that the cost of the loss must be known and quantifiable. This is important because the insurer needs to know the maximum amount they could be required to pay in the event of a loss. If the amount of the loss is not known, it becomes difficult for the insurer to accurately price the insurance policy.
By requiring that a loss be determinable and measurable, the insurance industry is able to more accurately assess and manage risk, which helps to ensure that insurance policies are priced fairly and that policyholders are able to receive the coverage they need when they need it.
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the freedom of people to decide where they want to work and live, and what they want to buy or sell, are basic capitalist rights under? A.freedom of competition B.freedom of expression C.freedom of choice D.eminent domain
The (C) freedom of choice accords individuals certain essential capitalist rights, such as the right to decide where they want to live and work as well as what they want to buy and sell.
What is freedom of choice?
The ability and autonomy of a person to choose an activity among at least two viable possibilities without external restrictions are referred to as freedom of choice.
People have fundamental capitalist rights under freedom of choice, including the ability to choose where they want to work and live as well as what they want to buy and sell.
The flexibility of economic agents to distribute their resources among the options (such as commodities, services, or assets) that are accessible to them is known as freedom of choice in microeconomics.
It entails the ability to pursue any employment that is open to them.
Therefore, the (C) freedom of choice accords individuals certain essential capitalist rights, such as the right to decide where they want to live and work as well as what they want to buy and sell.
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On December 31 of the current year, Plunkett Company reported an ending inventory balance of $217,000. The following additional information is also available:
• Plunkett sold and shipped goods costing $38,400 to Savannah Enterprises on December 28 with shipping terms of FOB shipping point. The goods were not included in the ending inventory amount of $217,000.
• Plunkett purchased goods costing $44,400 on December 29. The goods were shipped FOB destination and were received by Plunkett on January 2 of the following year. The shipment was a rush order that was supposed to arrive by December 31. These goods were included in the ending inventory balance of $217,000.
• Plunkett's ending inventory balance of $217,000 included $15,400 of goods being held on consignment from Carole Company. (Plunkett Company is the consignee.)
• Plunkett's ending inventory balance of $217,000 did not include goods costing $95,400 that were shipped to Plunkett on December 27 with shipping terms of FOB destination and were still in transit at year-end. Based on the above information, the amount that Plunkett should report in ending inventory on December 31 is:
The amount that Plunkett should report in ending inventory on December 31 is $157,200
Inventory is a type of asset, and a company's balance sheet will show its ending amount under current assets. Inventory is not a line item on the income statement. The Cost of Goods Sold, which is frequently shown on a company's income statement, is calculated using the change in inventory as one of its constituents.
Following is a calculation of the ending inventory:
= Final inventory balance - FOB purchased goods - items held on consignment
= $217,000 - $44,400 - $15,400
= $157,200
The other goods wouldn't be changed because they aren't part of the ending inventory and aren't taken into account in the calculating part.
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Public Accounting firms with offices in most major cities in the United States are called this. These firms may operate internationally as well
Public accounting firms are national companies with locations in the most significant US cities. These companies might also conduct business abroad.
What are National Firms?Regional business a corporation incorporated under and subject to the laws of a national, state, or territory government is referred to as a "national corporation" if its ownership is held through publicly traded shares.
National businesses are Public Accounting firms with locations in the majority of major US cities.
These businesses could also have international operations.
A corporation that has its headquarters in one nation but has activities in several nations is known as a national business.
A national business is a corporation with its headquarters in one nation but with operations in many nations.
Therefore, public accounting firms are national companies with locations in the most significant US cities. These companies might also conduct business abroad.
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1. Select a product. It can be real or made up. Give your good or service a name and a price in U.S. dollars. Identify the market type for your product (pure/perfect competition, monopolistic competition, oligopoly, monopoly)
Product Name: Tvs
Price: $500 Market
Type: Oligopoly
I’m trying to help my friend that ended up getting a zero on her assignment and I need help identifying if TVs would belong in a different competition and I feel as if it belongs in pure competition because there are multiple companies that sell similar products for similar prices
Product: Televisions
Name: "ViewMaster"
Price: $500
Market Type: Oligopoly
What makes it Oligopoly?TVs can be considered to be in an oligopolistic market. While there are multiple companies that sell similar products, a few large firms dominate the market, such as Samsung, LG, and Sony, and have significant market power. They can influence prices, product features, and distribution through their brand recognition, advertising, and economies of scale.
This leads to limited price competition, product differentiation, and barriers to entry, which characterizes an oligopolistic market.
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During the process of monitoring progress, which question below could be answered by the project schedule?a. Do the deliverables meet the established quality and performance expectations?b. Are we on target to meet the project deadline?c. Are the project requirements being followed?d. Has the project encountered any
During the process of monitoring progress, the project schedule can answer the question,b) "Are we on target to meet the project deadline?"
This is because the project schedule serves as a timeline for the project, outlining all of the activities, tasks, and milestones that need to be completed in order to meet the project deadline.
The project schedule can provide an overview of the timeline for the project, showing the start and finish dates for each task, as well as any intermediate milestones that need to be achieved in order to complete the project on time.
By comparing the expected timeline against the actual progress of the project, it can be determined if the project is on track to meet its deadline.
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Which of the following is used to drive a brand's paid and owned media, extend a brand's story, and foster social experiences?
a. Activation tools.
b. Stunts.
c. Creative assets.
d. Social personas.
e. Hashtags.
C. Creative assets. is used to drive a brand's paid and owned media, extend a brand's story, and foster social experiences.
What is brand ?A brand is a concept used in business and marketing to help consumers recognise a specific organisation, item, or person. Because brands are immaterial, you cannot physically touch or see them.
A brand is a good, service, or idea that is publicly set apart from similar ones. This makes it simple to communicate and generally market. The process of developing and promoting a brand's name, attributes, and personality is known as branding.
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Ray Albertson is 72 years old and lives by himself in an apartment in Salt Lake City. Ray’s gross income for the year is $3,000. Ray’s support is provided as follows: Himself (9 percent), his daughters Diane (20 percent) and Karen (15 percent), his sons Mike (20 percent) and Kenneth (10 percent), his friend Milt (14 percent), and his cousin Henry (12 percent).a. Absent a multiple support agreement, of the parties mentioned in the problem, who may claim Ray as a dependent as a qualifying relative?b. Under a multiple support agreement, who is eligible to claim Ray as a dependent?c. Assume that under a multiple support agreement, Diane claims Ray as a dependent. Diane is single with no other dependents. What is her filing status?
Under the Internal Revenue Service (IRS) rules, a person can only be claimed as a dependent if they are a qualifying relative.
To be a qualifying relative, the person must meet certain tests, including the gross income test, the support test, and the relationship test. In this case, Ray's gross income of $3,000 is below the threshold for the gross income test, so that test is met.
The support test requires that the person being claimed as a dependent must receive more than half of their support from the person claiming the dependency exemption.
Based on the information given, Ray's daughters Diane and Karen, his sons Mike and Kenneth, his friend Milt, and his cousin Henry all provide more than 10 percent of his support, meaning that any of these parties could claim Ray as a dependent as a qualifying relative.
b. A multiple support agreement is a written agreement between two or more individuals who contribute more than 10 percent of a person's support, allowing one person to claim the dependency exemption. In this case, under a multiple support agreement, only one person can claim Ray as a dependent.
c. If Diane claims Ray as a dependent under a multiple support agreement, her filing status would be single. A person's filing status is determined by their marital status as of December 31 of the tax year. Since Diane is single, her filing status would be single, regardless of whether she claims Ray as a dependent.
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is it TRue or False : To start work every day, David sits down and sets his goals for the day and then he decides how to achieve them, formulating future courses of action to achieve the specified results. This is the definition of planning.
To start work every day, David sits down and sets his goals for the day and then he decides how to achieve them, formulating future courses of action to achieve the specified results. This is the definition of planning. (TRUE)
What is planningPlanning is a process that begins with setting organizational goals. After that, determine the strategy for achieving the overall goals of the organization, then finally formulate an overall planning system to integrate and coordinate all the work of the organization to achieve the target.
planning is the process of selecting and setting goals, strategies, methods, budgets, and standards (benchmarks) for the success of an activity.
Simply put, planning is determining in advance what will be done. So before carrying out a job, it is better to make a plan in advance so that it is neatly arranged and the work is done more quickly.
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1- How does price elasticity of demand and cross price elasticity of demand differ?
- The price elasticity of demand measures how responsive the quantity demanded for a good is in response to a change in the good's own price, while the cross price elasticity of demand measures how responsive the quantity demanded for a good is in response to a change in the price of another good.
- The price elasticity of demand measures how responsive the quantity demanded for a good is in response to a change in the price of another good, while the cross price elasticity of demand measures how responsive the quantity demanded for a good is in response to a change in the good's own price.
- Price elasticity of demand depends on the number of existing customers, while the cross price elasticity of demand depends on the number of new customers.
- Price elasticity of demand depends on the number of new customers, while the cross price elasticity of demand depends on the number of existing customers.
2- Cross price elasticity of demand is equal to the percentage change in quantity demanded for Product A, divided by:
- The percentage change in quantity demanded of product B.
- The percentage change in price of product B.
- The quantity supplied of product A.
- The quantity supplied of product B.
3- If the cross price elasticity between apples and oranges is 2, which is correct?
- The two goods are complements, and a price increase in one good will cause an increase in the quantity demanded of the other.
- The two goods are independent, and a price increase in one good will cause an increase in the quantity demanded of the other.
- The two goods are substitutes, and a price decrease in one good will cause an increase in the quantity demanded of the other.
- The two goods are substitutes, and a price increase in one good will cause an increase in the quantity demanded of the other.
4- Suppose the income elasticity of demand for toys is +2.00. This means that:
- A 10 percent increase in income will increase the purchase of toys by 20 percent.
- A 10 percent increase in income will increase the purchase of toys by 2 percent.
- A 10 percent increase in income will decrease the purchase of toys by 2 percent.
- Toys are an inferior good.
5- Which type of goods is most adversely affected by recessions?
- Goods for which the income elasticity coefficient is relatively low.
- Goods for which the income elasticity coefficient is relatively high.
- Goods for which the cross-price elasticity coefficient is positive.
- Goods for which the cross-price elasticity coefficient is negative.
6- Cross elasticity of demand measures how sensitive purchases of a specific product are to changes in:
- The price of some other product.
- The price of that same product.
- Income.
- The general price level.
7- We would expect the cross elasticity of demand between Pepsi and Coke to be:
- Positive, indicating normal goods.
- Positive, indicating inferior goods.
- Positive, indicating substitute goods.
- Negative, indicating substitute goods.
8- Suppose that a 20 percent increase in the price of good Y causes a 10 percent decline in the quantity demanded of good X. The coefficient of cross elasticity of demand is:
- Negative and therefore these goods are substitutes.
- Negative and therefore these goods are complements.
- Positive and therefore these goods are substitutes.
- positive and therefore these goods are complements
Answer:
Explanation:
Price elasticity of demand (PED) measures the responsiveness of the quantity demanded of a good to a change in its price, whereas cross-price elasticity of demand (XED) measures the responsiveness of the quantity demanded of one good to a change in the price of another good.
In other words, PED focuses on the effect of changes in price on the demand for a single good, while XED considers the effect of changes in the price of one good on the demand for another good.
True or false?
If a price is set at $210, there is a shortage and there is downward pressure on the price to reach equilibrium.
False, there is a surplus at a cost of $210. To arrive at a lower equilibrium price and quantity, downward pressure on the price would start to build.
The price at which the quantity supplied and demanded are equal is referred to as the equilibrium price. It is established by where the demand and supply curves intersect.
If more goods or services are produced than are needed to satisfy demand at the going rate, there is a surplus, which pushes prices lower. The phrase "downward pressure" literally refers to pressure to reduce a quantity.
If more people want a good or service than can be supplied at the going rate, there is a shortage, which pushes prices up. With everything else remaining the same, an increase in demand will result in a rise in the equilibrium price and an increase in supply.
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A human service worker is asked to plan a recreational activity for elderly residents on the floor where she works. She is not sure what to arrange but finally decides to do program on supplemental Medicare insurance. She invites a friend who sells supplemental Medicare insurance. The friend gives a complete explanation, handing out brochures on her business and her business card and explaining the insurance products her company can offer individuals on Medicare.What is the issue here?
Medicaid provides health insurance to some people and families in all states, including kids, parents, expectant mothers, older people with certain incomes, and persons with disabilities.
What is health insurance?
A type of insurance known as health insurance or medical insurance covers all or a portion of the risk associated with a person needing medical care.
The risk is distributed among several people, just like with other kinds of insurance.
An insurer can create a regular financial structure, such as a monthly premium or payroll tax, to provide the funds to pay for the medical benefits provided in the insurance agreement by assessing the overall risk of health risk and health system expenses over the risk pool.
A central organization, such as a government agency, for-profit corporation, or private company, is in charge of administering the benefit.
The specifics of the plans, including as the deductible, coinsurance, and health savings accounts, may be customizable for both employers and employees.
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which of the following is among the 13 competitive factors that affect each company's branded footwear sales volumes and market shares in each of the four geographic market regions?
Option which says that the number of retailers stocking each company's footwear brand and the number of weeks each company takes to deliver orders to retailers affects the sale, volume and market shares in a market region.
A sale is a big trade a group of individuals wherein either tangible or intangible products, commodities, or assets are given for cash. A reseller may provided to avoid assets in in addition to cash. In the financial markets, a sale can also be defined as an agreement between a buyer and a seller on the purchase price & delivery details of a financial security. A sale is essentially a deal between a seller of a specified good or service and a buyer who is willing to pay for just that good or service, regardless of the setting.
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Global financial markets operate under a system of __________, where the supply and demand for various currencies dictate their value at any moment in time. (A) living rates(B) foreign good rates(C) floating exchange rates(D) live trading rates
(C) floating exchange rates.
Floating exchange rates is a system where the value of a currency is determined by the supply and demand for it in the foreign exchange market. In a floating exchange rate system, the central bank does not directly control the value of its currency; instead, market forces determine the exchange rate. This allows for more flexible and responsive currency values, as exchange rates can change quickly in response to changes in supply and demand. The foreign exchange market is where currencies are bought and sold, and exchange rates are established based on the prevailing market conditions. Under the floating exchange rate system, the value of a currency can fluctuate daily, sometimes even hourly, as market conditions change.
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