Answer:
The answer is : 4) The Netherlands has a comparative advantage in raising beef
Explanation:
First, it is clear to see Netherlands has an absolute advantage in raising beef ( 100 tons of beef for Netherlands in comparing to 50 tons of beef of Belgium)
For Netherlands, the opportunity cost to raising 1 ton of beef is 10 boxes of tulips; the opportunity cost to produce 1 box of tulip is 0.1 ton of beef. (1)
For Belgium, the opportunity cost to raising 1 ton of beef is 15 boxes of tulips; the opportunity cost to produce 1 box of tulip is 0.07 ton of beef. (2)
From (1) and (2) => Netherlands has comparative advantages in raising beef while Belgium has comparative advantages in producing boxes of tulips.
Thus, 4 is chosen.
Belgium has a comparative advantage in producing beef, while the Netherlands has a comparative advantage in producing tulips. So, the correct answer is option 4) The Netherlands has a comparative advantage in raising beef.
To determine who has a comparative advantage, we need to look at the opportunity costs involved for each country.
Firstly, let's define the opportunity cost for each good:
Netherlands:
- Opportunity cost of 1 ton of beef = 10 boxes of tulips (since 100 tons of beef = 1,000 boxes of tulips)- Opportunity cost of 1 box of tulips = 0.1 tons of beef (since 1,000 boxes of tulips = 100 tons of beef)Belgium:
- Opportunity cost of 1 ton of beef = 15 boxes of tulips (since 50 tons of beef = 750 boxes of tulips)- Opportunity cost of 1 box of tulips = 1/15th tons of beef (since 750 boxes of tulips = 50 tons of beef)Now, compare the opportunity costs:
Netherlands: 1 box of tulips costs 0.1 tons of beef (less than Belgium)Belgium: 1 ton of beef costs 15 boxes of tulips (less than Netherlands)From this comparison, we can conclude:
Belgium has a comparative advantage in producing beef.Netherlands has a comparative advantage in producing tulips.Aviation Systems sells its products with a three-year manufacturing warranty. The company's sales revenue is $600,000. Based on prior experience, the company estimates that warranty costs are 5% of sales revenue. Actual warranty costs related to these sales were $5,000 during the year. How much warranty expense should the company record this year? a. $30,000. b. $25,000. c. $10,000. d. $5,000. e. 25,000
Answer:D - $5,000
Explanation: The company has an estimated warranty cost of 5% of sales which is $30,000. This can be recorded as a warranty payable provision in the books of the company as it gives a 3years warranty on its products. As stated in the question, out of the $30,000 warranty provision, only $5,000 was expensed in the current year leaving a bal of $25,000 for the remaining 2 years which the company has given to its customers. So only $5,000 warranty expense will be recorded in the current year.
"Preannounced, stable policies to achieve a low and constant money supply growth and a balanced federal budget are therefore the best way to lower the inflation rate." This statement best illustrates the: a. Keynesian theory. b. incomes policy. c. supply-side theory. d. rational expectations theory.
Answer:
D) rational expectations theory.
Explanation:
The rational expectations economic theory states that the expectations of the population about how the economy is working, will actually influence the economy in a way that these expectations tend to become a reality.
For example, if people expect that the economy is going to fall into a recession they will try to save money and spend less. Because the population starts to save money and spend less the economy will slip into a recession.
The same applies the other way around, if the population is happy and confident about how the economy is doing, they will increase their spending and keep the economy growing.
We have to remember that almost 70% of the economy is private consumption and any small change in private consumption can lift or sink an economy.
Sahara Company's Cash account shows an ending balance of $650. The bank statement shows a $29 service charge and an NSF check for $150. A $240 deposit is in transit, and outstanding checks total $420. What is Sahara's adjusted cash balance?
A. $291
B. $829
C. $471
D. $470
Answer:
C. $471
Explanation:
The computation of the adjusted cash balance is shown below:
= Ending balance of cash account - service charge - NSF checks
= $650 - $29 - $150
= $471
The deposit in transit and the outstanding checks are used to find out the adjusted bank balance, not for the adjusted cash balance. Hence, ignored it
So, All other information which is given is not relevant.
Carlos Suarez has been hired as sales manager at a new firm and is trying to come up with a sales force compensation method. He would like to have selling expenses relate directly to sales resources, an aggressive sales force, and minimization of non-selling tasks. What compensation method(s) would best fulfill his requirements?a. Salary plus bonusb. Straight salaryc. Combination salary plus fringe benefitsd. Straight commission
Answer:
D) Straight commission
Explanation:
When a company uses the straight commission compensation method, it pays no fixed salary to its salespeople, instead all the salespeople's salaries are calculated based on a percentage of their total sales. This means that a salesperson is paid according to his/her performance, if they sell a lot, they will earn a lot.
Beranek Corp has $855,000 of assets (which equal total invested capital), and it uses no debt—it is financed only with common equity. The new CFO wants to employ enough debt to raise the total debt to total capital ratio to 40%, using the proceeds from borrowing to buy back common stock at its book value. How much must the firm borrow to achieve the target debt ratio?
Answer:
To achieve the target debt ratio the firm must borrow $342,000
Explanation:
Data provided in the question:
Total invested capital = $855,000
Required Debt to total capital ratio = 40%
Now,
The Debt to total capital ratio is calculated as:
= [ Debt ÷ Total invested capital ] × 100%
thus,
according to the question
40% = [ Debt ÷ $855,000 ] × 100%
or
Debt ÷ $855,000 = 0.40
or
Debt = 0.40 × $855,000
or
Debt = $342,000
Hence,
To achieve the target debt ratio the firm must borrow $342,000
On April 30, 2005, Carty Corp. approved a plan to dispose of a segment of its business. The disposal loss is $480,000, including severance pay of $55,000 and employee relocation costs of $25,000, both of which are directly associated with the decision to dispose of the segment. The firm is a calendar-fiscal year firm, and the segment's operating loss for the entire year (2005) through the date of disposal was $120,000.Before income taxes, what amount should be reported in Carty's income statement for the year ended December 31, 2005, as the total income effect (loss) from discontinued operations?A. $600,000B. $480,000C. $120,000D. $360,000
Answer:
A.- $600,000
Explanation:
There is the loss from discontinued operations $120,000 (from the segment operations)
And the loss from the disposal of the segment of the business which is $480,000
In total the income effect from discontinued operation will be a loss for $600,000
When pan frying food with a stuffing, you may need to
A. cook it more rapidly.
B. turn it more often.
C. keep the flame low
D. finish it in the oven.
Answer:
D finish it in the oven
Explanation:
What are in-kind benefits? the process used to produce a good or service goods and services provided for free or at greatly reduced prices the benefits only provided to people over the age of 65
Answer:
In kind benefits are goods and services provided for free or at greatly reduced prices
Explanation:
The benefits in kind are the advantages given to an employee or a customer such as credit cards, company cars, concert tickets and so on. Usually these benefits are called "perks" and are part of the compensation plan offered at each enterprise.
The benefits are also offered to clients, which will be awarded with a gift from the company when reaching certain number of purchases.
In kind benefits are goods and services provided for free or at greatly reduced prices.
Explanation:
In-Kind benefits are the benefits that an employee receives or gets from the firm or company, other than the usual pay or wages, for example a health insurance or car. According to national government policy, there are different benefits for 65+ age people in all parts of the world.
Various private and public benefits schemes can contribute to the cost of domestic energy fees. The following in-kind benefits are not included during taxation,
contributions paid in an approved occupational account or personal pension scheme for employee. Nearly all schemes are included cheap or free canteen mealscounselling services to redundant employees , childcare servicesworks buses/subsidies to public bus servicesreasonable removal expenses if the employee is moving to take up a new job or is getting transferred by employergenuine personal gifts for example, retirement gifts other than cashJob-related benefits:
Benefits to employees provided from within the employer’s business. This includes the following,
Cheap rail tickets for railway employees Cheap airline seats provided for airline staffGoods or services provided by a business which are offered free or at a discounted price to employees.They are taxable. Cash allowances for job-related benefits for employees are taxable. Payments to miners of coal are not taxable.
If the price for a product produced in a competitive market increases, which of the following is most likely to occur in the labor market for workers who produce that product?
a. The demand for labor and the number of workers hired both increase.
b. The supply of labor and the number of workers hired both increase.
c. The demand for labor and the number of workers hired both decrease.
d. The supply of labor and the number of workers hired both decrease.
e. There is a movement along the demand for labor curve, and firms hire more workers.
Answer:
A. The demand for labor and the number of workers hired both increase.
Final answer:
In response to an increase in the product's price, the demand for labor increases, leading to more workers being hired to meet the higher production needs. The correct answer is (a) The demand for labor and the number of workers hired both increase.
Explanation:
When the price for a product increases in a competitive market, the profitability of producing that product also rises. This typically leads to a scenario where companies want to produce more of the high-priced product to maximize profits. As a result, the demand for labor to produce that product will likely increase because more workers are needed to ramp up production.
This increased demand for labor will lead to a rightward shift in the demand curve for labor in that industry. Consequently, companies will be willing to hire more workers and potentially at higher wages to attract the necessary workforce. Therefore, it can be inferred that the demand for labor and the number of workers hired both increase as firms respond to the higher price by seeking to produce more of the product.
The correct choice reflecting this outcome is:
(a) The demand for labor and the number of workers hired both increase.
It is not the supply of labor that initially increases in this scenario; rather, it's the demand for labor by firms. While an increase in wages might attract more workers to the labor market in the longer term, the immediate effect is an increase in labor demand. The increase in hired workers happens because firms are responding to the increased demand by seeking to expand production, necessitating more labor.
A government deficit has decreased from 100 to 60. The country's trade deficit is 120 and private savings equal 80 and investment equals 100. If Ricardian neutrality holds true, after this change in the government's budget, private savings will equal:
Answer:
40
Explanation:
According to Ricardian theory, any change in budgets deficits or surpluses should be completely offset by an equal change in private savings.
In this case, the original amount of private savings was 80, but since the budget deficit decreased by 40, then the private saving should also decrease by 40. The total private saving = 80 - 40 = 40
Final answer:
In an economy where Ricardian equivalence holds, if the government deficit decreases, private savings will decrease by the same amount to maintain the national saving and investment identity. For the student's scenario, the new private savings level would be 40.
Explanation:
The student is asking a question about the Ricardian equivalence and its implications for private savings in the context of the national saving and investment identity. Ricardian equivalence is an economic theory which suggests that when a government increases its deficit, rational agents will increase their savings to offset the government's increased borrowing, under the expectation that taxes will increase in the future to pay back the debt. In this scenario, given an initial budget deficit of 50, a trade deficit of 20, private savings of 130, and investment of 100, if the budget deficit rises to 70, Ricardian equivalence would mean that private savings will increase by the amount of the increase in the budget deficit, which is 20, to maintain the national saving and investment identity.
According to this theory, if the government deficit decreases from 100 to 60, then private saving will decrease by the same amount. In the context of the student's figures, private savings were originally 80. If the government deficit has decreased by 40, then the new private savings level will be 80 - 40 = 40. This adjustment ensures that the twin deficits, a trade deficit of 120 and a reduced government deficit of 60, along with the new private savings of 40 and investment of 100, align with the national saving and investment identity.
Which of the following is the path through which contractionary monetary policy works? A. Money down implies interest rate up implies investment down implies income down. B. Money down implies interest rate down implies investment down implies income down. C. Money down implies interest rate up implies investment up implies income down. D. Money down implies interest rate down implies investment up implies income down.
Answer and Explanation:
B. Money down implies interest rate down implies investment down implies income down.
The correct path through which contractionary monetary policy works is: A. Money down implies interest rate up implies investment down implies income down.
Contractionary monetary policy aims to reduce the money supply in the economy. This is typically done by the central bank through measures such as selling government bonds. A reduced money supply leads to higher interest rates.
Higher interest rates discourage borrowing and investment. As businesses and consumers cut back on spending, economic activity slows. This results in lower income and reduced aggregate demand.
Thus, the overall pathway is: money supply decreases, interest rates rise, investment falls, and income declines. This helps control inflation but can also slow down economic growth.
Which of the following financial statements shows a company’s financial position on a particular date? a. Income statement b. Statement of changes in retained earnings c. Statement of cash flows d. Balance sheet
Answer: D
Explanation: Another name for Statement of Financial Performance is a Balance Sheet and it shows the Financial Position of firms as at a particular date and with the appropriate currency.
The balance sheet is the financial statement that shows a company's financial position on a specific date, listing assets, liabilities, and net worth.
Explanation:The financial statement that shows a company's financial position on a particular date is the balance sheet. A balance sheet provides detailed information about a company's assets, liabilities, and net worth at a specific point in time. The assets, which represent what the company owns, are traditionally listed on the left side, while the liabilities and net worth, showing what the company owes and its overall value after liabilities, are on the right side. By examining a firm's balance sheet, stakeholders can gain insights into the firm's financial status and the changes that have occurred over time.
Jersey Co. borrowed Singapore dollars over a short-term period to finance its U.S. dollar payables because the Singapore interest rate was low. It incurred a negative effective financing rate on this short-term loan which indicates that Jersey Co. :
a. paid more interest on the loan than what it would have paid if it had borrowed U.S. dollars.
b. experienced a negative stock price reaction due to borrowing funds.
c. will need fewer U.S. dollars to repay the short-term loan than the amount of U.S. dollars that it was able to use as a result of the loan.
d. will be unable to repay the loan.
Answer:
The correct answer is c. will need fewer U.S. dollars to repay the short-term loan than the amount of U.S. dollars that it was able to use as a result of the loan.
Explanation:
The setting of negative interest rates is usually considered an unconventional policy, but in reality it can be seen as a continuation of the perfectly normal monetary policy practice of moving the short-term interest rate in response to fluctuations in the economy. There is a downward limit on interest rates, but we haven't reached it yet.
The reductions in negative interest rates work largely as they do in positive interest rates, although there are some differences: the effects on banks, for example, and the psychological impact of interest rates that fall into negative territory.
Carrigan has just launched his new business. He has great plans for expansion later but for now, the most appropriate and effective product strategy to use in this stage of his small business is the _____ product strategy.
Answer:
one product strategy
Explanation:
Based on the information provided within the question it can be said that the best strategy in this situation would be a one product strategy. This is a business strategy in which the company focuses on a single flagship product and making it sell as much as possible before diversifying into other products. This prevents the company from being overwhelmed with various products and instead allows them to focus and one and grow the product as well as the company.
Revenue & Sales Corporation and Software, Inc., enter into a contract for the design of custom software for which Revenue & Sales agrees to pay $64,500. Software transfers the right to payment under the contract to CreditLine LLC. This transfer is:_____________
Answer:
This transfer is AN ASSIGNMENT.
The assignor transfers rights or benefits to another party, but duties and obligations are not transferable.
Revenue & Sales corporation is the assignor and Creditline LLC is the assignee. Revenue & Sales transferred the benefits of this contract, the $64,500, to CreditLine. But the assignor still has to design the software.
The major difference between the indirect and the direct method of a statement of cash flows appears in which the following activities section(s)?
A. The investing activities and financing activities sections.
B. The investing activities section only.
C. The operating activities and financing activities sections.
D. The operating activities section only.
Answer: Option D
Explanation: In simple words, operating activities refers to the activities that are related to the core operation of the business.
While preparing cash flow statement from the method, the accountant records the inflow and outflow of the activities directly, however, in case of applying the indirect method the accountant takes the accrual basis to cash basis accounting transactions into consideration.
While preparing cash flow statement other two sections are prepared in a same way in which all the inflows and outflows are recorded directly.
Thus, from the above we can conclude that the correct option is D.
Lana Appliances sells dishwashers with a fourminusyear warranty. In 2018, sales revenue for dishwashers is $ 87 comma 000. The company estimates warranty expense at 4.5% of revenues. What is the 2018 warranty expense?
Answer:
The total 2018 warranty expense is $3,915
Explanation:
To solve, we simply multiply total sales revenue and the estimated warranty expense percentage:
$87,000 x 4,5% = $3,915
We can also make the following entries in the journal
Debit Credit
Warranty Expense $5,000
Warranty Liability $5,000
Final answer:
The warranty expense for 2018 is $3,915.
Explanation:
To calculate the warranty expense for 2018, we need to multiply the sales revenue for dishwashers by the estimated warranty expense percentage.
The sales revenue for dishwashers in 2018 is $87,000 and the estimated warranty expense percentage is 4.5%.
So, the warranty expense for 2018 can be calculated as:
Warranty Expense = Sales Revenue × Warranty Expense Percentage
Warranty Expense = $87,000 × 0.045
Warranty Expense = $3,915
Assume Mercy Hospital underestimated the provision for bad debts and contractual adjustments reported on its December 31, 2015 income statement. This was caused by a new accountant calculating the accounts receivable balance at the end of the year. What would be the most likely effect on the actual cash flow stemming from the reported net patient service revenue in the following year?
Answer:
If the hospital underestimated its bad debt, that means that they are overestimating their profits. The cash flow is determined using the income statement, so it will also be overestimated. But at some point reality will catch up and the actual cash flow will be less than expected, since bad debts reduce actual revenue.
Donald and Candice sell their home for $695,000, incurring selling expenses of $30,000. They purchased the residence for $125,000 and made capital improvements totaling $20,000 during the 20 years they lived there.
What is their realized gain and recognized gain on the sale?
Answer: Recognised gain is $520,000
Realised gain is $570,000
Explanation: Recognised gain is the difference in the cost of an asset and the sales price of an asset also putting into record of expenses incurred on the asset. from the question, recognised gain is $695,000 less $125,000 less $30,000 less $20,000 = $520,000
Realised gain is the actual difference between the actual cost of an asset and the actual sales price of the asset. from the question, cost price is $125,000 and sales price is $695,000. the realised gain is $570,000
________specifies whether data should be collected about individuals, households, organizations, departments,Geographical areas, or some combinationA) suitation analysisB) Cost _benefit analysisC) The unit of analysisD) symptom analysisE) Integrated analysis
Answer:
C. The unit of analysis.
Explanation:
The unit of analysis is basically "who" or "what" you are studying, though it may not be the same as unit of observation.
Answer:
C
Explanation:
An unplanned business district is a type of retail location where Multiple Choice two or more stores are situated together or in close proximity. freestanding businesses appear at random. a group of architecturally unique business establ
Answer: two or more stores are situated together or in close proximity
Explanation: In simple words, an unplanned business district refers to an area where multiple stores are opened by individuals without any collective planning of establishing a market altogether.
Usually this is a place where all the commercial transactions of a town or a district takes place. In other markets, it is the main market arena of a specified area.
Generally customer turnover is very high in such areas as there are several stores from which a rational customer can find all commodities he or she needs.
One important thing to remember is that all of this information technology is created to aid in the process of acquiring knowledge. Knowledge still resides in people, but information systems have been created to capture the specialized knowledge and decision rules used by others, the process behind expert systems.
True / False.
Answer:
True
Explanation:
An expert system is a key variable in today's global world where information is the key to progress and to do advancements in every field of life. In that regard, an expert system plays a crucial role that helps to emulate decision-making ability. It is designed to solve complex problems which are beyond human capability. It stores information and helps to resolve issues by using multiple knowledge sources.
Information systems are designed to capture and communicate specialized knowledge, true to the claim. These systems play a crucial role in information societies, where knowledge drives the economy and access to education dictates success. Additionally, the evolution of information and communication technologies impacts the scale and competitive dynamics of firms in the economy.
Explanation:It is true that information technology, including expert systems, is designed to aid the process of acquiring knowledge. While knowledge ultimately resides in people, information systems are employed to encapsulate specialized knowledge and decision rules. These systems, such as expert systems, serve to store and convey what others know, supporting the decision-making processes.
The impact of information technology extends into various aspects of society. For instance, in information societies, the economy is driven by knowledge rather than material goods, and power is held by those who control the storage and dissemination of information. This influence highlights the importance of access to education and technical skills, as the workforce in a postindustrial society is divided by the capacity to succeed in service-oriented roles, such as software programmers and business consultants, rather than in the production of goods.
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The discount rate is the interest rates on loans that the Federal Reserves makes banks. Banks occasionally borrow from the Federal Reserve when they find themselves short on reserves. A higher discount rate________ (increases or decreases) banks' incentives to borrow reserves from the Federal Reserve, thereby________ (increasing or reducing) the quantity of reserves in the banking system and causing the money supply to________ (fall or rise).
The federal funds rate is the interest rate that banks charge one another for short-term________ (typically overnight) loans. When the Federal Reserve uses open-market operations to buy govenment bonds, the quantity of reserves in the banking system ________ (decreases or increases), banks' demand for borrowed reserves________ (declines or rises), and the federal funds rate (increases or decreases).
Answer:
The discount rate is the interest rates on loans that the Federal Reserves makes banks. Banks occasionally borrow from the Federal Reserve when they find themselves short on reserves. A higher discount rate DECREASES banks' incentives to borrow reserves from the Federal Reserve, thereby REDUCING the quantity of reserves in the banking system and causing the money supply to FALL. THE BANK HAS LESS MONEY TO LOAN, SO ITS ABILITY TO "CREATE" MONEY THROUGH THE ISSUE OF LOANS IS REDUCED.
The federal funds rate is the interest rate that banks charge one another for short-term OVERNIGHT loans. When the Federal Reserve uses open-market operations to buy government bonds, the quantity of reserves in the banking system INCREASES, banks' demand for borrowed reserves RISES, and the federal funds rate DECREASES. THE FED WILL ADOPT AN EXPANSIONARY MONETARY POLICY BY BUYING BONDS FROM BANKS AND INCREASING THE AMOUNT OF MONEY THEY CAN LOAN.
Lakeland Inc. employees get 40 hours paid leave each year to pursue volunteer projects. The company runs a service day that hosts projects in 25 countries, and it supports a nonprofit that brings young people into public service for a year. Lakeland could be most accurately described as practicing ________ marketing.
Answer:
sense of mission marketing
Explanation:
Sense of mission marketing refers to the marketing practice that holds that a company has to define its mission in a broad social context and not just simply in product terms.
In this case, Lakeland's employees are involved in several social projects that help local communities in all the places that the company operates.
A problem-solving group was called to help resolve a recent business conflict. The group performed critical research and identified the source of the problem. Based on what they found, the group followed a certain process to resolve the issue. In which phase of the problem-solving process is the group currently?
Answer: Define the problem
Explanation:
From this particular case, we can state that this group is currently at defining the problem stage of problem solving method. In each and every problem solving procedure the prime action is to define or identify the issue or problem at hand . It is considered to be one of the most vital actions. This steps mostly involves analyzing the circumstance in order to concentrate on the problem and not the symptoms.
The group is in the problem analysis phase of the problem-solving process, focusing on understanding the causes and implications of the identified issue. They are setting an agenda and discussing potential causes to form a solid foundation for generating solutions.
The group in question is currently in the problem analysis phase of the problem-solving process. This phase, which follows the initial identification of the problem, involves critically examining the causes and implications of the issue at hand. During this step, the group discusses potential causes and sets an agenda or timeline for addressing the problem, ensuring a thorough understanding before generating solutions.
Margaret earned $4,000 during January of this year. She was unemployed for February and March, and during April she earned an additional $3,000. She did not work again until December, at which time she earned $1,200. How many quarters of coverage has Margaret earned for Social Security during this year?
Answer: 1 quarter
Explanation:
Margaret worked and earned for the period of January, April and December respectively. Since 3 months make 1 quarter, she actually worked and earned for 3 months which equals 1 quarter of coverage.
Bob is a manager at a local Toyota dealership who has lost five of his employees last year. Now he has to make a decision about how to retain the employees on his team. Having recently taken a class on decision making, Bob decides to follow the six-step process for deciding what to do. What problem is Bob most likely to face during the implementation of chosen alternative step in the decision-making process? a) Not having the time to take all of the steps outlined in his plan b) Satisficing, or choosing the first solution that works, not the best solution c) Considering only "tried and true" solutions without creating new possibilities d) Not being aware enough of things going on around him to see where problems and opportunities exist
Answer:
The answer is letter C
Explanation:
The problem he most likely to face during the implementation of chosen alternative step in the decision making process is considering only "tried and true" solutions without creating new possibilities
UPS uses _________________, which charges different prices for shipping depending on an item's destination. The more distant the city where the package is being shipped, the higher the price UPS charges.
Answer:
The correct answer is Zone pricing.
Explanation:
In marketing, the term "price zone" is known as the practice of pricing prices for a product or service differentiated by geographical areas or regions. Generally, the price zone is established taking into account different factors such as logistics, purchasing power, zonal competition, etc.
In the logistics area it refers to the calculation of the value of a package or merchandise, taking into account the distance, size and urgency of the shipment.
A coffee-shop is open Monday through Friday each week. Records for the week show the following numbers of bowls of chili were sold: 160, 140, 135, 185, and 190. Using a three-day moving average, what quantity would the manager recommend be prepared for Monday of the second week?
a. 145
b. 160
c. 162
d. 170
Answer:
The answer is d. 170 bowls of chili is expected to be sold in the next Monday using three-day moving average.
Explanation:
Under three-day moving average technique, the quantity of chili bowls sold in the nearest 03 business day before the projected day, that is Monday are averaged to get the expected number of bowl of chili sold in Monday.
The calculation as below:
Projected bowl of chili sold in Monday = (Actual bowl of chili sold in last Wednesday + Actual bowl of chili sold in last Thursday +Actual bowl of chili sold in last Friday)/3 = (135+ 185+ 190)/3 = 170 bowls of chili.
Thus, the answer is d.
An approach to managing organizations that likens organizations to machines, with a focus on maximizing efficiency, is called the __________ human relations approach. human resources approach. classical management approach. systems approach.
Answer:
Classical Management Approach.
Explanation:
The classic approach to management emerged as a management model founded by Taylor in the late nineteenth and early twentieth centuries, called scientific management, whose ultimate goal was to maximize productive efficiency in order to get the worker to produce more in less time.
Scientific management presents four fundamental principles proposed by Taylor:
Principle of planning : Substitution of empirical methods by scientific methods, there is a rationalization of work through time and execution studies.Principle of worker preparation : Workers should be selected to work in areas according to their abilities and should be adequately trained so that they can produce more according to the demands of the organization.Principle of Execution : It requires tasks and responsibilities to be distributed so that the work is performed with greater rigor and discipline within an established average time. From this came job and job designs that split functions to maximize productivity.Standardization: Scientific methods were implemented to reduce costs and uniformity. The work is overseen by a number of expert supervisors and the man is seen as being economical, who is motivated to produce more when he receives monetary rewards.