Managerial decisions concern the allocation and utilization of resources
The goal of managerial decision-making is to enable the effective and efficient performance of corporate tasks while resolving identified challenges. Making a decision from among a greater number of possibilities is a cognitive process that is dependent on the information, knowledge, experience, and beliefs of the decision-makers. In order to accomplish organisational goals, managerial decisions entail the allocation and usage of resources like time, money, people, and materials.
Effective managers must balance the trade-offs between cost, quality, and time when making decisions that maximise the use of these resources. This calls for a thorough comprehension of the organization's assets and liabilities as well as any potential outside influences on its performance. These choices could be tactical like setting up work hours or strategic like putting money into new technology or expanding into new markets. The results of these choices could significantly affect the organization's performance and long-term viability.
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one year ago, zxy deposited $1,860 in an account that has earned and will earn 1.90 percent per year in compound interest. if acb deposits $1,910 in an account today that earns simple interest, then how much simple interest per year must acb earn to have the same amount of money in 12 years from today as zxy will have in 12 years from today? answer as an annual rate. 2.06% (plus or minus .05 percentage points) 2.03% (plus or minus .05 percentage points) 2.25% (plus or minus .05 percentage points) 1.84% (plus or minus .05 percentage points) none of the above is within .05 percentage points of the correct answer
Simple interest per year must acb earn to have the same amount of money in 12 years from today as zxy will have in 12 years from today. A rate is within 0.05 percentage points of an annual rate.
What is the annual rate?
The profits from an investment over a given time period are referred to as annual yield. Earnings from holding an investment, such as dividends and interest, are included in the yield. In other terms, the yield is the annual return on investment that a shareholder receives.
The annual rate, on the other hand, is the percentage that investors earn annually for their investments. The interest that an investor can anticipate from a debt security like a bond or certificate of deposit is also expressed as an annual rate. The annual rate for a loan is the proportion of the principle that the lender will charge every year until the loan is fully repaid. The interest rate on debt securities is often referred to as the coupon rate.
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which is an example of a normative question? question 17 options: a) what are the long-term effects of unemployment? b) how do interest rates influence employment? c) how do unemployment rates differ among nations? d) how should a society achieve full employment?
a) what are the long-term effects of unemployment?
What is unemployment?
The OECD defines unemployment as those over a certain age who are currently available for work but are not currently employed or self-employed. The number of jobless persons as a percentage of the labor force is used to calculate the unemployment rate, which is used to calculate the level of unemployment. There are various types of unemployment, including frictional, structural, cyclical, voluntary, and involuntary. India's unemployment can be broadly divided into two categories. Numerous variables, including changes in technology, a fall in the labor force, and geographic immobility, contribute to unemployment. Unemployment has a variety of effects on the workforce, including changes in employee stress levels and a decline in national spending.
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which of the following is a controversial indicator because while it attempts to measure total economic activity, it excludes certain data for being too difficult to count?
Gross Domestic Product is a contentious metric that aims to gauge overall economic activity but leaves out some information because it is difficult to collect (GDP).
Gross Domestic Product is the divisive statistic that seeks to gauge all economic activity while excluding other information because it is too difficult to collect (GDP). Although GDP is a commonly used indicator of a nation's economic production, it is limited since it only tracks transactions that take place on legally recognised markets. It undercounts real economic activity because it ignores the value of some informal or underground businesses, as well as family and volunteer work. The omission of these elements renders GDP a contentious statistic and emphasises the necessity for supplementary measurements to determine a nation's actual economic health.
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managers believe that the hardest step to accomplish successfully in the marketing research process is the one where the marketing manager has to:
Answer: Defining the problem is often the most difficult step in the marketing research process. It is very important for the objectives of the research to be clearly defined, because the best research job on the wrong problem is a wasted effort, time and resources for the company.
The most challenging step in the marketing research process is the analysis of the data. This involves taking the raw data that has been collected and transforming it into useful information.
This requires a deep understanding of the research objectives, the research design that was used, and the data that has been collected. It also requires the ability to interpret the data and identify patterns, correlations, and trends.
Additionally, the analysis must be conducted in a way that provides useful insights that can inform decision making. This requires the marketing manager to have a thorough understanding of the research objectives, have the necessary analytical skills, and be able to interpret the data in a meaningful way.
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how a particular society distributes its resources to produce goods and services describes a system
How a particular society distributes its resources to produce goods and services describes an economic system.
What does economic system mean and its types?An economic system refers to way for societies or governments to organize and distribute available resources, services, and goods across a geographical region or country. Economic systems govern the production factors such as land, capital, labor, and physical resources.
An economic system is the collection of institutions, agencies, entities, decision-making processes, and consumption patterns that make up the economic structure of a given community. Market economies, planned economies, centrally planned economies, socialist economies, and communist economies are examples of economic systems.
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chevelle, inc. has sales of $67,841, costs of $19,970, depreciation expense of $9,712, and interest expense of $3,267. if the tax rate is 32 percent, what is the operating cash flow, or ocf?
Total revenue - operating costs = Operating cash flow
i.e. [tex]$67,841[/tex][tex]-$19,970 = $ 47,871[/tex]
So, operating cash flow is $47,841
Operating cash flow (OCF), cash flow from operating activities (CFO), or free cash flow from operations (FCFO) are terms used in financial accounting to describe how much cash a company generates from its revenues after deducting costs associated with long-term investments on capital items or investments in securities.
Operating activities are any costs or funding sources connected to a business's ongoing operations. The International Financial Reporting Standards define operating cash flow as cash generated from operations less taxes and interest payments. Cash created from operations must take into account cash paid to suppliers and cash generated from customers. Operating cash flow is reflected in the difference between the two.
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both excel gas and corner market know that there is going to be a big concert in town. people will be traveling from the east and west to arrive at the destination. the destination, coincidentally, only has two filling stations: one owned by excel gas and one by corner market. there is no other place to get gas for up to at least 100 miles in either direction. excel gas and corner market conspire to raise gas prices to $4.35 per gallon. this is an example of
Both excel gas and corner market know that there is going to be a big concert in town. This is an example of oligopoly.
An oligopoly is a market arrangement in which a small number of enterprises may prevent the rest from wielding substantial influence. The concentration ratio calculates the largest enterprises' market share.
A monopoly market has a single producer, a duopoly has two firms, and an oligopoly has two or more enterprises. The number of firms in an oligopoly has no definite upper limit, but it must be small enough that the activities of one firm have a considerable influence on the others.
Steel makers, oil firms, railways, tire manufacturers, grocery store chains, and cellular carriers are examples of oligopolies throughout history. The economic and legal worry is that an oligopoly can prevent new players from entering the market, limit innovation, and raise prices.
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had taxable income of $131,582 for the year. the company's marginal tax rate was 34 percent and its average tax rate was 21 percent. how much did the company have to pay in taxes for the year?
The company have to pay $27632.22 in taxes for the year.
What is taxable income?Taxable income is the amount of income used to calculate how much tax an organization owes the government in a given tax year.Here given that,
The reported taxable income of $131,582 for the fiscal year.
The marginal tax rate for the company is 34%.
The average tax rate for the company is 21%.
We have to multiply the Taxable income by the Company Average tax rate for the year to find out how much the company had to pay in taxes for the year.
=$131,582 x 21%
=$131,582 x 0.21
=$27632.22
The company will pay $27632.22 in total for the fiscal year.
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bush (i.e. republican) voters estimated that the u.s.'s wealth distribution was more unequal than kerry (i.e. democrat) voters. (True/False)
The given statement is false: Democrats and Democratic leaners are significantly more logical than Republicans and the individuals who shelter. the GOP to say diminishing economic inequality ought to be a main concern for the public authority (61% versus 20%).
Likewise, Democrats are almost two times as possible as Republicans to say there's a lot of economic inequality in the U.S. these days (78% versus 41%).
Among the people who say there's a lot of economic inequality, seven-in-ten think some measure of inequality is OK, and this is the situation among majorities of Democrats (68%) and Republicans (77%). Around 3/4 of Democrats who say there's an excessive amount of economic inequality (74%) say addressing it would require major changes to the economic system, and 14% say the system should be totally reconstructed. A big part of their Republican counterparts say the system requires major changes, and 12% think it should be reconstructed.
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Which account needs an adjustment at the end of the period?
There are four different sorts of accounts that require adjusting. They are deferred revenues and expenses as well as accumulated revenues and expenses. Money earned during one accounting period but not received until another is referred to as accrued revenue.
What changes are made at the year's end?Year-end adjustments are journal entries made to different general ledger accounts at the conclusion of the fiscal year to produce a set of books that adheres to the relevant accounting framework.
What happens after the period adjustment process is finished?The process of passing all required journal entries to reflect the honest and fair perspective of the business is referred to as the end-of-period adjustment procedure. At year's end, the adjusting entries are approved for the matching principle of accounting.
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according to the Rule of 72 how long will it take Mrs. Suzukito double her money if she invests $25,000 at 6% interest?
Using the Rule of 72, it would take Mrs. Suzukito 12 years to double her money if she invested $25,000 at 6% interest. The Rule of 72 is a financial rule that helps people determine how long it will take for an investment to double at a given rate.
To use the Rule of 72, divide the annual rate of return into 72. In this case, 72 divided by 6 is 12, so it would take 12 years for Mrs. Suzukito's money to double at 6% interest. This is a quick and easy way to determine how long it will take for an investment to double, and can be especially useful when comparing investment options. Knowing how long it will take to double your money can be useful when planning for retirement or other long-term goals.
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In what way does operations management affect the economic stability of a firm? options: a) By combining resources into something more valuable than the cost of the individual resources b) By using purchasing management more effectively c) By producing more quantity at less cost with improved quality d) By bringing customers and products made by others together e) By determining process layouts
C) By producing more quantity at less cost with improved quality operations management affect the economic stability of a firm.
Operations management affects the economic stability of a firm by increasing efficiency and reducing costs. This is achieved through various methods such as improving production processes, streamlining supply chain management, and reducing waste. Effective operations management can lead to increased output and lower costs, which in turn can increase the overall competitiveness and stability of the firm. By reducing costs, firms can improve their bottom line, leading to greater profits and stability. The ability to produce more quantity at less cost with improved quality also helps firms to maintain or increase market share, which is critical for long-term success.
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nvestors expect the market rate of return this year to be 14.00%. the expected rate of return on a stock with a beta of 1.8 is currently 25.20%. if the market return this year turns out to be 12.70%, how would you revise your expectation of the rate of return on the stock? (do not round intermediate calculations. round your answer to 1 decimal place.)
The rate of return on the stock will be 22.158%. Suppose the market returns 12.70% this year.
What is rate of return?
A rate of return (RoR) seems to be the net gain or loss of an investment over a given time period expressed as a percentage of the initial cost of the investment. The annual rate of return is just the percentage change in an investment's value. The calculation of the stock's rate of return is shown below: Beta is the expected rate of return on the stock (Rate of return - Market rate of return)
= 1.8 × (0.127 - 0.140) (0.127 - 0.140)
= - 3.042%
As a result, the expected rate of return on the stock is equal to the current percentage minus the expected rate of return on the stock.
= 0.2520 - 0.03042
= 22.158%
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In producing and marketing environmentally friendly products, Seventh Generation is practicing _______.
- greenwashing
- environmental marketing
- green marketing
- micro-marketing
- macro-marketing
The correct option is C, In producing and marketing environmentally friendly products, Seventh Generation is practicing green marketing.
Green marketing refers to the marketing of products or services that are believed to be environmentally friendly. The main objective of green marketing is to promote and sell products that have a lower impact on the environment compared to traditional products. This approach focuses on environmentally conscious consumers who are willing to pay a premium for products that are environmentally friendly.
Green marketing includes activities such as product design, production, packaging, and advertising that emphasize the environmental benefits of a product. Companies use various tactics to communicate their commitment to sustainability and environmental responsibility, such as labeling products with eco-labels or certifications, using recyclable packaging materials, and promoting their environmental initiatives through advertising campaigns. The ultimate goal of green marketing is to create a sustainable future for both the planet and the business.
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tanya is opening her own boutique store selling name brand footwear for women. she has signed exclusive agreements with several major luxury manufacturers. these manufacturers have given her a suggested retail price (msrp) that her research with potential customers has confirmed is the right price point. she has signed a lease on the perfect location for her new boutique in a wealthy, downtown area of the city and has begun remodeling the store to fit the image of her brand. based on this description, which element of the marketing mix does tanya still need to work on?
Based on the description, Tanya still needs to work on the promotion element of the marketing mix. The promotion element involves advertising, sales promotion, public relations, and personal selling.
Tanya needs to develop a promotional element to create awareness of her store and products and attract customers to her boutique. This could include advertising in local media, hosting events or launches, working with influencers and bloggers, and establishing relationships with local fashion and lifestyle media outlets.
Tanya still needs to focus on the promotion aspect of the marketing mix in order to bring customers to her boutique and increase awareness of her brand and products
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consistent with accrual-basis accounting, expenses should be recognized
This is true because expenses, consistent with accrual-basis accounting, should be recognized.
Under accrual-basis accounting, expenses are recognized when they are incurred, not necessarily when payment is made. The recognition of expenses is based on the accrual concept, which states that expenses should be recognized in the financial statements in the period in which they are incurred, regardless of when payment is made.
This means that an expense should be recognized in the accounting period in which the underlying transaction occurs, even if cash is not yet paid or received. This provides a more accurate representation of a company's financial performance and helps to align revenue and expenses in the correct period.
"
Complete question
consistent with accrual-basis accounting, expenses should be recognized
true
false
"
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why are there procedures governing the client acceptance or continuance decision? explain why auditors do not accept every client.
Procedures governing the client acceptance or continuance decision are in place to ensure that auditors provide their services in a manner that is consistent with professional standards and that protects the interests of both the auditor and the client.
Auditors do not accept every client for several reasons. Firstly, the auditor must assess the risks associated with the client and its operations. This includes considering the client's financial stability, the industry in which it operates, and its history of financial reporting.
Secondly, auditors must assess their own ability to perform the audit effectively. This includes considering the size of the client, the complexity of its operations, and the auditor's own expertise and experience
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question mode multiple select question select all that apply which of the following are associated with marketing, as defined by the american marketing association? multiple select question. institutions that implement technologies for increased production efficiency institutions that facilitate the exchange of offerings that have value for customers processes used to create value for clients activities that communicate offerings that have value for society at large organizations that develop industry partnerships for international outsourcing
According to the American Marketing Association, marketing is refers to institutions that adopt technology to boost production efficiency and huge corporations that create industry collaborations for global outsourcing.
How does outsourcing work?Outsourcing is the practise of hiring a third party from outside a company to carry out duties or produce goods that were previously handled in-house by the company's own employees and people.
What's an illustration of outsourcing?The best examples of outsourcing are website creation, office and warehouse cleaning, and advertising. When it comes to bookkeeping, maintenance, and hiring, the majority of business owners transfer control to outside experts. As a result, businesses can concentrate most of their resources on the key activity.
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which of the following is truerelationship? a. demand and price are directly related the higher the price, the greater the demandregarding the price-demand b. if demand is inelastic, a small change in price will result in a large change in demand C. price elasticity measures how responsive price will be to a change in demand d. a demand curve shows the number of units a company will produce in a given time period at different prices that might becharged e. if demand is elastic, sellers will consider lowering their price
C. Price elasticity measures how responsive price will be to a change in demand.
Price elasticity is a measure of how sensitive the demand for a good or service is to a change in its price. It measures the responsiveness of demand to changes in the price of the good or service, and is an important tool for understanding consumer behavior. Price elasticity can be used to identify how much a change in price will affect demand for a particular good or service. For example, if the price of a good is increased by 10%, the demand for the good may decrease by 20%. In this case, the price elasticity of demand would be -2, which indicates that the demand is highly elastic. Additionally, price elasticity can be used to inform sellers on how they should set prices for their products. If the demand for a good or service is highly elastic, sellers may want to consider lowering their price in order to increase demand and sales. On the other hand, if the demand is inelastic, a small change in price can result in a large change in demand. This knowledge can be used by sellers to maximize their profits by setting prices that are most beneficial to their business.
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which one of the following accounts is closed at the end of an accounting period?
In accounting, the process of closing accounts at the end of an accounting period is a crucial step in the preparation of financial statements. This process involves transferring the balances of temporary accounts, such as revenue and expense accounts, to a permanent account known as the "Retained Earnings" account.
At the end of an accounting period, the following accounts are typically closed:
Revenue accounts, which reflect the income earned by a businessExpense accounts, which reflect the costs incurred by a businessDrawing accounts, which reflect the personal withdrawals made by the owner of a sole proprietorship or a partnershipThe purpose of closing these accounts is to reset their balances to zero, so that they are ready to receive new transactions in the next accounting period.
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How much money will you accumulate in a bank account by the end of a 5-year period if you deposit $1 200 today at an interest rate of 2% per year, compounded quarterly?
Select one:
a. $1 514
b. $1 230
c. $1 849
d. $1 783
e. $1 326
The money will accumulate in a bank account by the end of a 5-year period if you deposit $1 200 today at an interest rate of 2% per year is $1 326.
The practise of calculating the interest earned quarterly on a fixed deposit or investment, based on the principal amount plus the interest earned for prior periods, is known as quarterly compounding.
The correct answer is e.
To find the future value we use following formula
FV = (1+r)" + PV
Where,
PV = Initial Amount OR Initial Deposit OR Initial Investment OR Amount at time zero
FV = Future Value
n = Number of Years/Period
r = Rate of Interest
Given:
Number of Periods/Years (n) =5
Rate of Interest (r) =2%
Present Value (PV) = $1200
Calculating Effective Interest Rate can be calculated by following formula,
r=(1+ 7-(p)
where
r=Effective Rate of Interest
P=Nominal rate of interest compounded p- times a year
Therefore,
r = (1 + (P) -)P 0.02 4 )4-1-0.02015
After substituting the values into the formula we have
FV = (1+r)" * PV
FV (1+0.02015) 1200
The future value is $1325.87469.
FV $1325.87469
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what is an unconsummated transaction
An unconsummated transaction refers to a transaction that has been initiated or proposed, but has not yet been completed or finalized.
In other words, an unconsummated transaction is one in which the exchange of goods, services, or assets has not taken place. This can occur for a variety of reasons, such as a change of plans, a failure to meet conditions, or a lack of agreement on terms. An unconsummated transaction is considered void, and no rights or obligations are created as a result. It is a transaction that has started but has not yet been completed and the exchange of goods, services or payments has not taken place. The term is often used in financial, business, or legal contexts and refers to a transaction that is still in progress and has not yet been finalized.
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distinguish between economic and noneconomic wants.
Economic demands are those for which a price must be paid, whereas non-economic wants can be met without paying a price.
Every human being engages in some action to satisfy human desires; these activities are referred to as human activities. These activities are divided into two categories: economic and non-economic.
While economic activities are those performed for the purpose of making money or obtaining wealth, non-economic activities are those performed for free with a service motivation.
The primary distinction between economic and non-economic activities is that economic activities are conducted to meet human requirements, whereas non-economic activities are performed to acquire psychological gratification.
So, read on to learn more about the contrasts between these two forms of human activity. Economics activities are those related with the production, exchange, distribution, and consumption of goods at all levels of society.
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which of the following uses parallel structure? question 7 options: our new paralegal must be smart, efficient, and have flexibility. the accident shattered her pelvis, dislocated her foot, and her spinal column was broken in three places. big business demands superior forecasting, reporting, and analyzing. a good financial planner must be certified, competent, and must possess ethical standards.
Superior forecasting, reporting, and analysing are essential in big company are uses parallel structure.
What is parallelism?The repeating of a certain grammatical form inside a phrase is known as parallelism. The writing is made clearer and simpler to grasp by using this arrangement.Only the line "Big business necessitates improved forecasting, reporting, and analysing" has a comparable structure among the examples offered. With phrases like predicting, reporting, and analysing that finish in -ing, it produces a parallel structure.There are no comparable structures in other sentences:Smart, effective, and flexible are qualities that our new paralegal must possess. Flexibility requires a different structural arrangement than intelligence, which is be + adjective and have + noun.Her spinal column was fractured in three places, her foot was dislocated, and her pelvis was damaged in the accident. The first two verbs are in the past tense.To learn more about parallel structure refer to:
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international business: competing in the global marketplace
An international company is a company that sells products or services in other countries, but operates facilities only in its home country. The company sells all over the world, but mainly focuses on the domestic market.
International business refers to the trade of goods, services, technology, capital and/or knowledge across borders on a global or transnational scale. “International business” is also defined as the study of the internationalization process of multinational corporations. A multinational enterprise (MNE) is a company that takes a global approach to markets, production, and/or operations in multiple countries. Well-known multinationals include fast food companies such as McDonald's (MCD), YUM and Starbucks Coffee Company (SBUX). Other major multinationals include automakers such as Ford Motor Company and General Motors (GMC). Consumer electronics manufacturers such as Samsung, LG and Sony, and energy companies such as Exxon Mobil and British Petroleum (BP) are also multinationals.
These are cross-border transactions of goods and services between two or more countries. Trading in economic resources involves capital, skills and people for the purpose of producing physical goods and services such as finance, banking, insurance and construction internationally. International business is also called globalization.
In order to do business abroad, a multinational company needs to consolidate its separate domestic markets into his one global market. There are two macroscopic factors that underscore the trend towards increasing globalization. The first is to remove barriers to facilitate cross-border trade (eg, the free movement of goods, services and capital known as “free trade”). The second is technological change, especially in communications, information processing, and transportation technology.
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a product that is tangible and can be touched or held in your hand is:
A tangible good is something you can hold in your hand or touch with your hands. Products like furniture, clothing, technology, toys, and books are examples of physical goods.
What is a tangible good?Any physical item that the consumer can see, touch, or hold is considered a tangible good. It is a tangible object that you can touch or hold in your hand and that is real. The term "tangible goods" refers to a broad range of things that may be purchased and sold on the market, including a wide range of apparel, gadgets, toys, books, furniture, and other physical objects. In order to be sold to customers, these products are often produced and then stored in a warehouse. The distinction between tangible and intangible things, which cannot be handled or felt physically, such as services or digital products, is important.
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one of the basic facts of life is that people must make choices as they try to attain their goals. this unavoidable fact comes from a reality an economist callspart 2a.rationality.b.scarcity.c.the market.d.economics.
Scarcity is unavoidable fact comes from a reality hat people must make choices as they try to attain their goals by an economist.
In economic and business, scarcity generally can be defined as the basic fact of life that there exists only a finite amount of human and nonhuman resources which the best technical knowledge is capable of using to produce only limited maximum amounts of each economic good. Scarcity in the economic can be defined into three main categories, such as demand-induced scarcity, supply-induced scarcity, and also structural scarcity. The function of scarcity is for understanding how goods and services are valued.
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How much is $60 dollars in pounds?
With a current conversion rate of 0.8083, 60 dollars USD equals 48.50 GBP (British Pounds).
What is the name of a dollar?A "buck" or "single" is the term used to describe the $1 bill. The $2 bill, which is infrequently used, is frequently called the "deuce," "Tom," or "Jefferson" (after Thomas Jefferson). The dollar is a currency used by more than 20 nations. The United States dollar, which was established in 1792 and named after the local currency known as the Spanish dollar, was the first still-existing currency with such a name. The Australian dollar, the Brunei dollar, the Canadian dollar, the Eastern Caribbean dollar, the Hong Kong dollar, the Jamaican dollar, the Liberian dollar, the Namibian dollar, the New Taiwan dollar, the New Zealand dollar, the Singapore dollar, and the Trinidad and Tobago dollar are just a few additional currencies.
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how will following the five foundations help you start your financial future off right?
Answer: you need to save for any emergency, be debt free, pay for your car cash, pay for college cash, so that when you graduate you will not have debt holding you down
Explanation:
These basic steps will assist you to develop more financial self-assurance:
Save a $500 emergency fund.Get out of debt/loans.Pay cash for your car.Pay cash for college.Build wealth and give.Finance is the look at and discipline of cash, forex, and capital assets. it's miles related to, however no longer synonymous with economics, that's the take a look at of production, distribution, and consumption of cash, belongings, items, and services (the subject of financial economics bridges the 2). Finance sports take region in economic systems at various scopes, consequently, the sector may be more or less divided into non-public, company, and public finance.
In a financial gadget, assets are sold, offered, or traded as economic instruments, which include currencies, loans, bonds, stocks, shares, options, futures, and many others. The belongings also can be banked, invested, and insured to maximize charges and reduce loss. In practice, risks are continuously found in any monetary action and entity.
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On January 1, 2016, Brooke Daniels, a young single woman just out of college, started a new job. She was eligible for health insurance, but decided not to take the insurance offered by her employer. She did not purchase any other health insurance. She did not require any medical procedures during the year and, therefore paid nothing for healthcare costs. Her income for the year was $34,000. (Stated income is adjusted gross income less filing threshold)
The cost of going without health insurance in 2016 is $695 per adult or 2.5% of income, whichever is higher ($34,000 x 0.025 = $850). In Brooke's situation, the fine will be $850.
Health insurance is a sort of insurance that pays for unexpected medical costs brought on by a disease. These expenditures may be associated with the price of hospitalisation, the price of medications, or the cost of medical visits.
The rising cost of healthcare can be managed with the help of a health insurance plan. By covering the costs associated with care, hospitalisation, a free health checkup, and pre- and post-hospitalization charges, it offers financial security.
You require health insurance regardless of your age, gender, or shoe size. Health insurance will protect you if you get sick or hurt, just like auto insurance protects your car in case something happens to it.
The complete question is:
On January 1, 2016, Brooke Daniels, a young single woman just out of college, started a new job. She was eligible for health insurance, but decided not to take the insurance offered by her employer. She did not purchase any other health insurance. She did not require any medical procedures during the year and, therefore paid nothing for healthcare costs. Her income for the year was $34,000.
(a) Will Brooke have to pay a tax penalty?
(b) If so, how much?
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