Answer: Option (b) is correct.
Explanation:
According to the theory of comparative advantage, a country has a comparative advantage in producing a commodity if the opportunity cost of producing that commodity in terms of other commodity is lower in that country as compared to the other country.
Hence, a country exports the commodity in which it has a comparative advantage and imports the commodity in which it has a comparative disadvantage because the opportunity cost of producing these commodities is higher than the other country.
Lara and her friends visit a new restaurant in town called Betelgeuse. They just happen to notice it while on a long drive. Lara and her friends like the ambience, décor, as well as the food. Lara is surprised when she finds out that the restaurant has been open for two years and neither her friends nor she knew of it until that day. At which of the following aspects of marketing has Betelgeuse failed?
Creating value for potential customers
Measuring the customers' perception of value
Delivering value to customers
Catering to both needs and wants of customers
Communicating value to potential customers
Answer:
Creating value for potential customers
Explanation:
Creating value is an important tactic that can be used by small businesses to acquire and retain customers, increase brand awareness, and differentiate one’s place in the marketplace.
To maximize their profits and defend those profits from competitors, monopolistically competitive firms must
A. lobby government to erect barriers to entry in their industries.
B. achieve economies of scale.
C. limit foreign competition in their markets by encouraging the government to impose tariffs and other trade restrictions.
D. differentiate their products.
Answer:
The correct answer is D. differentiate their products.
Explanation:
Product differentiation is a competitive strategy that aims at the consumer perceiving differently the product or service offered by a company, with respect to those of the competition.
Product differentiation can be based mainly on various attributes such as quality, color, size, after-sales service, specialized attention, location, brand recognition or luxury. But any attribute makes perceive a product or service differently is considered product differentiation.
It should be noted that the differentiation also has a subjective element since consumers can perceive that a certain brand is different from another based not on the comparison of objective characteristics but on the idea that they have made of the company and its image.
Other than getting laborers to work their land, how did the sharecrop system benefit landowners? a. Government subsidies provided them with more income. b. Profits were greater than under the slave labor system. c. It provided employment for immigrants. d. It reduced their risk when cotton prices were low.
Edgar is a chef and the kitchen manager in an upscale restaurant. He is very knowledgeable in both the culinary and restaurant management fields. Because he possesses these technical skills, Edgar can be considered a(n) ________ worker.
Answer:
The correct answer would be, Knowledge Worker. Edgar can be considered a Knowledge Worker.
Explanation:
A knowledge worker is a person who is skilled in handling and using the information.
So because Edgar is a Chef in a restaurant and he is also the kitchen manager, It shows his expertise in both culinary and restaurant management fields. He is expert in Cooking as a chef, and is well skilled in managing the kitchen as well. He is technically equipped with management skills in restaurant field. So Edgar is considered a Knowledge Worker.
Final answer:
Edgar is a chef and kitchen manager with considerable expertise in culinary arts and restaurant management, qualifying him as a skilled worker knowledgeable in food science and capable of both meal preparation and kitchen operation management.
Explanation:
Edgar, being a chef and the kitchen manager with extensive knowledge in culinary arts and restaurant management, can be considered a skilled worker. Expert chefs have knowledge of food science, nutrition, and diet, and are tasked with creating meals that are visually appealing and delicious. Moreover, in a restaurant setting, various roles such as sous chefs, kitchen help, servers, and managers split the tasks of serving meals. As a kitchen manager, Edgar not only has to be skilled in preparing food but also in managing the smooth operation of the kitchen, which involves business management skills like handling finances and personnel.
A house sits on the corner of a busy intersection. Two of the corners are occupied by gas stations, and directly across from the house is a fast food restaurant. The house's owners have been told that the property would be worth more if the lot were vacant. This is an example ofA.progression.B. highest and best use.C. regression.D. conservation.
Answer:
The correct answer is B. highest and best use.
Explanation:
This is a principle by which the value of a property capable of being dedicated to different uses will be the one that results from allocating it, within the legal and physical possibilities, to the most economically advisable, or if it is capable of being built with different building intensities , will be the result of building it, within the legal and physical possibilities, with the intensity that allows to obtain its greatest value.
Which of the following would be considered a suspicious purchasing behavior? A. A customer who purchases a high-risk product for the first time. B. A customer with a commercial account who makes repeated purchases over several years of a high-risk product. C. A customer who reads all the labels for similar items before determining which product to purchase. D. A customer who refuses similar products that are more effective or less expensive for no apparent reason.
Answer: " D. A customer who refuses similar products that are more effective or less expensive for no apparent reason. " would be considered a suspicious purchasing behavior.
Explanation: because it is assumed that a customer always seeks its greatest benefit and rejecting equal, more effective products at a lower cost without an obvious reason would be rejecting the possibility of having greater satisfaction at a lower cost.
A customer who refuses similar products that are more effective or less expensive for no apparent reason would be considered a suspicious purchasing behavior.
Explanation:A suspicious purchasing behavior is one that raises concerns and may indicate fraudulent activity. In this case, option D, a customer who refuses similar products that are more effective or less expensive for no apparent reason, would be considered a suspicious purchasing behavior. This behavior suggests that the customer may have ulterior motives or be involved in illicit activities. It is important for businesses to monitor and investigate such behaviors to protect themselves from potential risks.
The accounting and tax departments are the responsibility of the _____. a. inventory manager b. controller c. vice president of finance d. director of capital budgeting e. treasurer
Answer: Controller
Explanation: Controller refer to the accounting officer of the company whose job is to analyze and interpret the transactions related to accounting and fiance.
The duties of controller include conducting internal audit, updating financial statements, filing tax applications on time etc.
Thus, from the above we can conclude that the correct option is B.
Assume a single taxpayer is taxed at 10% on the first $9,275 of taxable income, 15% on the next $28,375 of income, and at 25% for the following $53,500 of income. What is the average tax rate for that individual if her taxable income is $42,000?
Answer:
14.93%
Explanation:
Given:
For taxable income $9,275, tax rate = 10%
For taxable income $28,375, tax rate = 15%
For taxable income $53,500, tax rate = 25%
Now,
Tax on income = tax rate × taxable income
thus,
Total Tax on first $9,275 = $9,275 × 10% = $927.5
and,
Total tax on next $28,375 = $28,375 × 15% = $4,256.25
Therefore, the total income that has been taxed till the $9,275 + $28,375
= $37,650.
and, the amount left to be taxed = $42,000 - $37,650 = $4,350
Thus,
Tax on remaining $4,350 = $4,350 × 25% = $1,087.5
Total tax = $927.5 + $4,350 + $1,087.5 = $6,365
Therefore,
The average tax rate = [tex]\frac{\textup{Total tax}}{\textup{Taxable income}}\times100[/tex]
or
The average tax rate = [tex]\frac{6,365}{42,000}\times100[/tex]
or
Average tax = 14.93%
Final answer:
The average tax rate for a single taxpayer with a $42,000 taxable income is approximately 12.34%, calculated by dividing the total tax paid ($5,183.75) by the total income.
Explanation:
To calculate the average tax rate for a single taxpayer with a taxable income of $42,000, we must apply the tax rates to the relevant income brackets. The brackets are 10% on the first $9,275 of income, 15% on the next $28,375, and 25% on any income beyond that threshold.
Here's the calculation:
Taxes on the first $9,275 at 10% = $927.50Taxes on the next $28,375 at 15% = $4,256.25Since $42,000 does not reach the third bracket, we do not apply the 25% rate.Total tax = $927.50 + $4,256.25 = $5,183.75To find the average tax rate, divide the total tax by the total income:
Average tax rate = Total tax ÷ Total incomeAverage tax rate = $5,183.75 ÷ $42,000 = 0.12342Therefore, the average tax rate is approximately 12.34%.
To inspire innovation, Jinyuan encourages his employees to devote one afternoon a month to work on pet projects, just to spend time in the lab experimenting and thinking freely. He is acting in the ______ role.a. entrepreneurb. disturbance handlerc. resource allocaterd. negotiatore. liaison
Answer:
Entrepreneur
Explanation:
Entrepreneur
Is the person who create a new business , with most of the risks and gaining most of the rewards .
An entrepreneur act as a innovator , source of new ideas , services , goods .
The person plays an important role in the economy , with good skills and determination to anticipate needs and get new idea for the market .
From the question , Jinyuan act as an Entrepreneur .
When a group wants to achieve a consensus or unanimous decision, the responsibility of the chair is to be constantly attentive to the group process. Identify which of the pointers below for how to chair a multiparty negotiation effectively is not correct.
Answer:
The correct answer is Introduce unnecessary ground rules or let the parties suggest them to distract. Introduce internal information that will help illuminate the issues and interests.
Explanation:
The decision by consensus is a decision process that seeks not only the agreement of the majority of the participants, but also pursues the objective of resolving or mitigating minority objections to reach the most satisfactory decision. At the same time consensus means: a) a general agreement, b) a process to reach that agreement. Decision-making by consensus is primarily about the process.
It has been said that true consensus implies "meeting everyone's needs." Decision-making by consensus attempts to denigrate the role of factions or parties and promote the expression of individual voices. The method also increases the probability of unforeseen or creative solutions by juxtaposing dissimilar ideas, as it seeks to minimize the objection; It is very popular in voluntary organizations, where decisions are made when there is generally broad approval. The consensus method is desirable when it is unlikely to force compliance with the decision, just as if each participant independently adopted the same unanimous decision.
An organization decides to ask three advertising agencies to pitch a proposal to handle the organization's business, instead of asking all of the advertising agencies in the city where this organization's headquarters are located to pitch the account. What type of decision does this represent?
A. Programmed
B. Nonprogrammed
C. Satisficing
D. Certainty
E. Illusion of control
Answer:
C.
Explanation:
Satisficing is searching for and accepting something that is satisfactory rather than insisting on the perfect or optimal.
Managers tend to satisfice rather than optimize in considering and selecting alternatives.
Characteristics:
-accept good enough
-do not obsess over other opinions
-can move on after deciding
-happier with outcomes
Assume your company’s capital structure is 75% equity and 25% debt. The bank will loan you money at 6% interest, net of tax, and your only shareholder wants to achieve at least a 20% return on her investment. What is your Weighted Average Cost of Capital (WACC)?
Answer:
WACC is 16.5%
Explanation:
Given:
Weight of equity is 75% or 0.75
Weight of debt is 25% or 0.25
Total value of firm is 1 (0.75 + 0.25)
Cost of debt is 6% or 0.06
Cost of equity is 20% or 0.2
WACC = (weight of debt × cost of debt) + (weight of equity × cost of equity)
= (0.25 × 0.06) + (0.75 × 0.2)
= 0.165 or 16.5%
Therefore WACC is 16.5%
The freedom of working for yourself is necessarily limited by A. your local competitors. B. the needs of your family and friends. C. your own skills and abilities. D. what your manager tells you to do.
Answer: Option C
Explanation: If someone is working for himself and herself than the only hindrance on his or her freedom to operate is his or her own skills and abilities.
The local competitors are a factor of external environment, hence, they could not affect the internal operations of any person working on itself. If someone wants to operate at a high level than the existing one without having sufficient skills and resources, then there is a slight chance that he will succeed.
Hence from the above we can conclude that the correct option is C.
____________________ conferencing allows attendees to use their computers to access an online, virtual meeting room where they can present PowerPoint slides, share spreadsheets and Word documents, demonstrate products, and interact with participants in real time.
Answer:
Web
Explanation:
Web conferencing is an online administration which allows the attendees to hold conferences, presentations, meetings, introductions and trainings by means of the web especially on TCP/IP associations.
One can associate with the meetings either by phone or utilizing your PC's speakers and amplifier with the help of a VoIP association.
Unlike Video Conferencing, Web conferencing does not require any special equipment to establish a proper connection on both the ends.
Web Conferencing - gives live sound/video correspondence between at least two areas to lead gatherings, preparing, or introductions by means of the Internet. ... Webcast - is basically "communicating" over the web.
Which area does not cost a company more money for sustainability?
A.update equipment
B.advertise environmental efforts
C.change work processes
D.change sourcing for raw materials
Answer:
C. Change work processes
Explanation:
In general terms, modifying and improving the production methods does not imply more costs. Avoid waste of energy, materials and resources are compatible with sustainability. Moreover, it will make the company save even more money as it implies a saving of valuable resources, that, in other way, must be paid to suppliers.
Answer:
D
Explanation:
Juicebox Inc., a fruit juice processing company, has been facing irregular demand patterns for the last two years. These large fluctuations have created a bullwhip effect for the company. Which of the following steps will Juicebox Inc. most likely take to cope with this effect?
a. reduce the number of employees to cut costs
b. follow the just-in-time inventory policy
c. carry larger inventories
d. reduce its annual production of juice
Answer:
The correct option is (b)
Explanation:
Bullwhip effect is an effect caused as a result of variations in demand. it affects the supply chain management. Bullwhip effect causes as a result of irregular demand that affects retailers and subsequently move above the supply chain to impact manufacturers and wholesalers adversely.
One of the remedies to cope with bullwhip effect is just in time approach as inventory is created when there is an increase in demand keeping erratic demand in control. This will not create large inventory or shortage, thereby reducing the bullwhip effect.
Final answer:
Juicebox Inc. is likely to adopt the just-in-time inventory policy to cope with the bullwhip effect caused by irregular demand patterns, which allows for inventory reduction and better quality control.
Explanation:
Juicebox Inc., a fruit juice processing company, has been facing irregular demand patterns causing a bullwhip effect. To cope with this effect, Juicebox Inc. will most likely follow the just-in-time inventory policy. This strategy focuses on reducing inventory levels, improving quality control, and relying on coordinated schedules between suppliers and manufacturers to ensure parts and products are available when needed, without maintaining large inventories. The just-in-time approach not only reduces storage costs but also facilitates identifying quality issues promptly, as less stock is held at any given time. Thus, option (b) is the most suitable action for Juicebox Inc. to mitigate the impacts of the bullwhip effect.
During the current fiscal year, Jeremiah Corp. signed a long-term noncancellable purchase commitment with its primary supplier. Jeremiah agreed to purchase $1.5 million of raw materials during the next fiscal year under this contract. At the end of the current fiscal year, the raw material to be purchased under this contract had a market value of $1.2 million. What is the journal entry at the end of the current fiscal year?
Answer:
Explanation:
The journal entry is shown below:
Not realized gain or loan A/c Dr $300,000
To Estimated liability on purchase of raw material $300,000
(Being the difference is recorded)
The difference is computed by
= Purchase value of raw material - market value of raw material
= $1,500,000 - $1,200,000
= $300,000
With respect to compilation, the syntax analyzer takes the lexical units from the lexical analyzer and uses them to construct hierarchical structures called .
Answer:
parse tree or parsing tree
Explanation:
A parse tree or parsing tree is an organized, rooted diagram representing a string's lexical framework in quite a reference-free language.
They are mainly used in computer language. Parse trees represent the input language context in practical terms, rendering them different from conceptual syntax trees used in programming.
The monthly salaries of a sample of 100 employees were rounded to the nearest $10. They ranged from a low of $1,040 to a high of $1,720. If we want to condense the data into seven classes, what is the most convenient class interval?
$50
$200
$150
$100
i will say its c since it come close and touches thats one
Answer:100
Explanation:1720-1040=680/7=97.1
llocative efficiency is a situation in which the quantities of goods and services produced are those that people _____ - it is not possible to produce more of a good or service _____ some of another good that people _____.
Answer:
The correct answer is: value highly; without giving up value highly.
Explanation:
Allocative efficiency refers to the situation where all the resources are being spent on those bundles of goods that are preferred or valued highly by people.
We are aware that we have fixed or scarce resources and we need to allocate these to alternative uses. To increase the production of one good or service, we need to give up producing another good or service preferred by people.
This is the opportunity cost of increasing production of a good.
The management of Omega Manufacturing is implementing a plan to minimize production mistakes by allowing teams that work in each area of the production facility to develop a plan and then monitor their area to ensure the reduction of errors. The managers are engaging in____________
Answer:
The correct answer would be, Quality Control. The managers are engaging in Quality Control.
Explanation:
When the production mistakes are reduced or eliminated to an extent, that the company produces the product according to the standards and specifications of the product design, the whole process is about controlling and ensuring the quality. So if the company, Omega Manufacturing, is implementing a plan to minimize mistakes by allowing teams that work in each area of the production facility to develop a plan and then monitor their area to ensure the reduction of errors, the managers are basically engaging in the Quality Control of the product.
Which of the following observations is true?
a. Fixed costs can be completely varied if the time period is sufficient.
b. Fixed costs arise when some types of inputs can be bought only in big batches.
c. Variable costs arise when inputs have a large productive capacity.
d. In the long run, more costs become variable.
Answer:
Which of the following observations is true?
d. In the long run, more costs become variable.
Explanation:
The long run is a period of time in which all factors of production and costs are variable.
Zane emphasizes the importance of ________ in that his company tries to be a strong community citizen, supports non-profit organizations, and has used green technology in its building.
Answer:
sustainability
Explanation:
Sustainability is the ability to exist constantly in balance with the enviroment and it's inhabitants
Most real-world choices aren't about getting all of one thing or another, instead, most choices involve _________________, which involves comparing the benefits and costs of choosing a little more or a little less of a good.
A. utility
B. marginal analysis
C. the budget constraint
D. consumption
Answer:
B. marginal analysis
Explanation:
"choosing a little more or a little less of a good." This part really points you to the answer.
Say you produce 10 cars, marginal cost answers the question of ¿how much costs to produce the eleventh car?
This also answers the question price and the paradox of the diamond and the water.
Normally water costs little and is a vital necessity, and diamonds costs a lot and you can live without it. If you are in a desert and no water is around I bet you'll pay a few diamonds for a bottle of water.
That's because of marginal utility, when you are thirsty the first bottle of water worths a lot, once you drink it, the second bottle worths less than the previous one, and so on.
Imagine that you are the manager of valley skateboard shop. the accountant for the business has delivered the news that sales are down by 15 percent compared to last month. she also reports that the rent on the building will be increasing next month by $100. you believe the shop needs a more experienced salesperson and that the building needs new paint and awnings. how might the information delivered by the accountant affect your decisions and course of action?
The accountant's information would heavily influence the manager's decisions and course of action. The decreased sales and increased rent could cause reconsideration of hiring a new salesperson and renovating the building, depending on the potential return on investments.
Explanation:As the manager of the valley skateboard shop, the information delivered by the accountant has a significant impact on your decisions and course of action. The decrease in sales by 15 percent indicates a potential problem with either the product, marketing, or sales strategies, which may necessitate changes.
The upcoming increase in rent means that operational costs will rise, making it critical to increase revenue or reduce other expenses. This might impact your decision to hire a more experienced salesperson and repaint the building, depending on the potential return on investment these actions might yield.
For instance, if hiring a new salesperson could considerably boost sales and outweigh the cost, it would be a wise decision. However, considering the paint and awnings, if the current state of the building is not driving away customers or injuring sales in any way, then the renovation might be a lower priority action.
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As part of the strategic planning process, step 4 includes conducting a ________, which evaluates a firm's business mix and assesses the potential of an organization's strategic business units.A. portfolio analysisB. SWOT analysisC. situation analysisD. product development strategyE. BCG growth-market share matrix
Answer:
The answer is: A) Portfolio analysis
Explanation:
Portfolio analysis: Analysis of the company´s product mix carried out to identify the best way to allocate the company´s resources in order to maximize profits. The two most common measures used in this type of analysis are market growth rate and relative market share.
A corporation was organized in January 2018 with authorized capital of $10 par value common stock. On February 1, 2018, shares were issued at par for cash. On March 1, 2018, the corporation's attorney accepted 7,000 shares of common stock in settlement for legal services with a fair value of $90,000. Additional paid-in capital would increase on
February 1, 2018 March 1, 2018
1. Yes and Yes
2. No and No
3. Yes and No
4. No and Yes
Answer:
4. No and Yes
Explanation:
On march 1, 2018 the paid in capital will increase by $20000 ($90000 - 7000×$10 )
The demand curve facing a perfectly competitive firm is
A. perfectly vertical.
B. downward-sloping and less flat than the market demand curve.
C. the same as the market demand curve.
D. downward-sloping and more flat than the market demand curve.
E. perfectly horizontal.
Answer:
Option (E) is correct.
Explanation:
Under the perfectly competitive market conditions, there are large number of buyers and sellers and there is no restrictions on the entry and exit of the firms. Prices of the goods are determined by the market forces and the demand curve for a firm in a perfectly competitive environment varies significantly from the market demand curve. The demand curve is horizontal because all the goods in a perfectly competitive market are considered as perfect substitutes.
The demand curve facing a perfectly competitive firm is perfectly horizontal (E), indicating that the firm can sell any quantity it wants at the market price without affecting the price itself, as it is a price taker in a perfectly competitive market.
Explanation:The demand curve facing a perfectly competitive firm is often described in economics. Students might encounter this concept in their studies, particularly when comparing different market structures. In a perfectly competitive market, each firm perceives the demand for its goods as being perfectly elastic. This concept is contrasted with a monopolistically competitive firm, which faces a demand curve that is an intermediate case between perfect competition and monopoly, and a monopoly, where the demand curve is the same as the market demand curve.
This means that the firm can sell as much as it wants at the market price, and the price does not change with the quantity supplied by the firm. The perfectly elastic demand curve represents the fact that the firm is a price taker and can sell its product at the prevailing market price with no influence on the price itself.
"" In order to produce 100 oatmeal cookies, GoodieCookieCo incurs an average total cost of $0.25 per cookie. The company’s marginal cost is constant at $0.10 for all oatmeal cookies produced. The total cost to produce 50 oatmeal cookies is:
Answer:
Total cost to produce 50 oatmeal is $20
Explanation:
We have given average total cost to produce 100 oatmeal cookies = $0.25
So Total cost = 0.25×100 = 25
Total variable cost to produce 100 cookies = marginal cost×100 = 0.1×100 = 10
Total fixed cost to produce 100 cookies = total cost-total variable cost = 25-10 = $15
Total cost of producing 50 cookies
=total fixed cost + total variable cost
=total fixed cost +(marginal cost ×50)
=15+(0.1×20)
=15+5
=$20
The total cost to produce 50 oatmeal cookies is $12.50.
Explanation:The total cost to produce 50 oatmeal cookies can be calculated by multiplying the average total cost per cookie by the number of cookies produced. In this case, the average total cost is $0.25 per cookie, so the total cost to produce 50 cookies would be $0.25 x 50 = $12.50.
This calculation assumes that the marginal cost remains constant for all the cookies produced, which is $0.10. The marginal cost represents the additional cost of producing one more cookie.
In summary, the total cost to produce 50 oatmeal cookies is $12.50.
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A bank statement
a. lets a depositor know the financial position of the bank as of a certain date.
b. provides a summary of all checking account transactions recorded by the bank.
c. is a credit reference letter written by the depositor's bank.
d. is a bill from the bank for services rendered.
Answer:
The correct answer is b. Provides a summary of all checking account transactions recorded by the bank.
Explanation:
A bank statement is a montly report of all the financial transactions made in a bank account, that is sent to the account holder. The statement can be a physical copy or an electronic document, and will show the customer's information, statement date period, account number, customer service number and the date of each transaction. These transactions are:
Account's beginning balance, Deposits of checks and cash, Withdrawals, Interest earned, Bank service fees and penalties and The ending balance for the period in question.Account holders are advised to do a timely review of their bank statement to verify that the transactions recorded match with their own financial records. When the records don't match there is a possibility of fraud or errors and they should be reported inmediately to the bank by providing the supporting documentation.
A bank statement provides a summary of all checking account transactions recorded by the bank, enabling account holders to monitor their financial activities for accuracy.
Explanation:A bank statement is a document provided by a bank that outlines all the transactions in a depositor's account over a certain period. The correct answer to the student's question is b. provides a summary of all checking account transactions recorded by the bank. A bank statement includes deposits, withdrawals, checks cleared, and any other charges or credits to the account. It's a tool for customers to review their financial transactions and ensure all recorded activities are accurate and no fraudulent activities have occurred within their accounts.
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