The supply curve might move if the following: Due to lower soap prices, a national consumer electronics factory creates with less its premium grade soap. U.S. citizens sell their gold and silver jewellery due to rising costs.
What exactly is a supply curve?The supply curve, which has a positive slope, depicts how supply changes as a function of the good's price. Given all other factors being equal, the quantity supplied increases with increasing product price.
Sort each scenario into a category based on whether the shift in the aggregate demand curve but rather movement along supply curve is to blame for the change in quantity. the supply curve changing a shift in the supply curve increasing salaries for Toronto construction workers
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credit terms of n/60 were printed on an invoice. explain what this means. multiple choice question. the credit period ends on the 60th of the month. the discount period lasts 60 days from the invoice date. the credit terms stand for net 60 days. the buyer will receive a 15% discount..
Once credit terms of n/60 are printed on an invoice, it means that the credit terms are net 60 days.
In accounting, what else does N 60 mean?The credit period 3/20, n/60 indicate that the client gets a 3% price break if the invoice is paid within 20 days. Otherwise, the invoice must be paid in full in under 60 days.
What is the difference between net 30 and net 60 terms?Net 30 variations typically refer to way too long payment terms as well as discounts intended to encourage buyers to make timely payments. A Net 60 payment implies that the consumer has 60 days after the order is completed to pay for it. 1/10 Net 30 indicates that the purchaser will obtain a 1% voucher if the payment is received within 30 days.
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what caused diann to confess her embezzlement to her employer? hiding the fraud was negatively affecting her health a colleague was starting to question her her husband threatened to divorce her both a and b
The stress was causing her to be sick often because of which Diann confessed her embezzlement.
Embezzlement is a crime consisting of withholding property from one or more persons to whom it has been entrusted for the purpose of converting the property into custody or use for a particular purpose. .
Embezzlement is a form of financial fraud. For example, a lawyer could embezzle funds from a client's escrow account. Financial advisors can embezzle investors' funds. A husband or wife may embezzle funds from a jointly owned bank account with their spouse.
The term embezzlement is often used in informal speech to mean the theft of money, usually from an organization or business such as an employer.
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Complete question:
What caused Diann to confess her embezzlement to her employer?
true or false: it is not important for the external auditor to understand the role and function of the internal audit function as part of understanding the client.
The statement is False. it is not important for the external auditor to understand the role and function of the internal audit function as part of understanding the client.
Internal auditing is an independent, objective warranty and consulting interest designed to feature cost and improve an business enterprise's operations. It facilitates an employer to accomplish its targets by bringing a scientific, disciplined technique to evaluate and enhance the effectiveness of change management, control, and governance approaches.
Internal auditing may achieve this purpose with the aid of presenting insight and pointers based totally on analyses and exams of facts and enterprise tactics. With a dedication to integrity and duty, internal auditing affords cost to governing bodies and senior management as a goal supply of independent recommendations. specialists known as inner auditors are hired via groups to carry out the internal auditing interest.
The scope of internal auditing within an employer may be vast and may involve topics along with a company's governance, threat control, and control controls over the performance/effectiveness of operations (together with safeguarding of belongings), the reliability of economic and control reporting, and compliance with laws and policies.
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The journal entry to record labor cost in the first department is (1) (debit/credit) Wages payable and (2) (debit/credit) Work in process-Department #1.
Payable wages (debit/credit) and (debit/credit) The two journal entries used to track labor costs in the first department are titled Labor Cost.
What entry should be used to track the price of goods moved from Department 1 to Department 2?
The cost of the items transferred from Department 1 to Department 2 is recorded in the process costing system as a debit to the Department 2 working on it and a credit to Department 1. work in progress Division 1:
How should a journal entry for salary payable be written?
How to Enter Payroll in an Excel Journal
Keep track of the gross wage expense (debit column). Record any unpaid tax obligations, net pay, and any further payroll deductions.
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Knowing how the firm responded, what would you have done differently? what are some steps you think the firm could have taken to prevent this incident? is your business susceptible? how are you going to reduce your risk? (you can use your family business, compay you have worked for, or gmu as your fictitious business)
In the business world, there is always the risk of a similar incident occurring. However, there are several steps that can be taken to reduce the risk of such an incident, such as: establishing a policy, conducting regular security audits, etc.
In order to prevent a similar incident from occurring in the future, the firm should have taken the following steps:
No matter what business you are running, there is always a risk of a similar incident occurring, but by taking the necessary steps outlined above, you can significantly reduce your risk.
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sort the following scenarios into whether the change in quantity described is caused by a shift in the supply curve or movement along a supply curve.
A local Fight Club supplies less of its premium quality soap as a result of lower prices.
The change in quantity supplied in this scenario is caused by a movement along the supply curve.
A movement along the supply curve occurs when there is a change in the quantity supplied due to a change in price, assuming all other factors remain constant.
In this case, the lower prices have caused the local Fight Club to supply less of its premium quality soap. This means that the company is moving up along its existing supply curve, reducing the quantity supplied in response to the lower prices. This movement along the supply curve occurs because as the price of the soap decreases, the Fight Club is willing to supply a lower quantity of soap due to lower profits.
It is important to note that if there were changes in other factors affecting supply such as cost of production, availability of raw materials, or technological advancements, then there could be a shift in the supply curve. However, based on the information provided, the decrease in quantity supplied is solely due to a movement along the existing supply curve.
In summary, the decrease in quantity supplied by the local Fight Club is caused by a movement along the supply curve due to lower prices.
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advertising for abercrombie and fitch uses overt sexuality to sell clothes. ads for abercrombie, the pre-teen sizes, are only moderately less sexual and products include swim wear with padding in the chest. many people object to this advertising. this is an example of the relationship of the
This statement is an example of the firm to the environment.
Reportedly, a company cannot ignore understanding the position of its company, the surroundings in which it evolves its purpose as a company, or its implementation with the environment when it starts its normal operations and the one it will play each day throughout its existence. It is also crucial that the company fulfill the civic conscience to which it is obligated.
It should always be remembered that the human being's life is greatly influenced and affected by the surroundings that surrounds it, so that proper development, and even survival, is entirely dependent on the connection between the company and the environment on around. And, just like a coin with two sides, the same thing happens between business and environmental relationships, because on the one hand, our environment provides us with the energy and resources we require to run our businesses.
On the other hand, man is vulnerable to environmental aggression such as floods, pests, diseases, inclement weather, or resource depletion, among others. The problem is that in today's society, the more we produce, the more resources we require, and the more we consume, the more waste and garbage we generate.
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what lessons can we draw about the republican party in texas today after looking at vote ratings from empower texans and texas association of business?
Libertarianism, social conservatism, and economic conservatism are among the right-leaning ideologies that the Republican Party is best known for advocating.
These laws prohibit things like abortion, same- marriage, transgender rights, in-depth education, and drug use for recreational purposes. The majority of conservative Republicans are also against immigration, affirmative action, and gun control.
One of the two major political parties in the US is the Republican Party, sometimes known as the GOP or Grand Old Party. After its primary political recreational, the Democratic Party, it is the second-oldest political party still in existence in the United States.
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Identify the negative consequences of establishing a price floor on milk. Negative Consequence Drag appropriate answer(s) here + Consumers will demand higher-quality milk as they are forced to pay more. There will be a surplus of milk. - + There will be a decrease in the quantity of milk demanded Sellers will be tempted to engage in illegal activity to recoup some of their costs due to milk that went unsold. Drog appropriate answer(s) here Not a Negative Consequence
A price floor is a cap placed well above equilibrium price point to stop vendors from overcharging customers.
What is an example of a consumer?Consumers are any person or entity who uses an item or service in its entirety. a customer who pays for a hairdresser to style and cut their hair. a company that buys a printer to use in the office.
Amount provided always surpasses quantity requested in the market when a pricing system is placed on any item or service.
Due to the large number of unsold properties, this will result in an excess supply of goods on the market.
The producers may even engage in unlawful activity to sell their remaining units in order to profit.
Based on the justification provided, we may categorize the negative and positive effects of a minimum price on milk as follows:
detrimental effects
1. There will also be a milk surplus.
2. The amount of milk that is desired will decline.
3. Due to the unsold milk, sellers may be encouraged to do illicit behavior in an effort to recover part of their expenditures.
Not a bad outcome
1. As consumers are compelled to pay more, they will expect milk of a higher caliber.
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The United States, one of the world’s largest exporting nations, has bought more goods from other nations than it has sold since 1975. This is known as
a) dumping
b) a trade surplus
c) a trade deficit
d) a favorable balance of payments
Answer: D) a favorable balance of payments
Explanation: A positive, or favorable, balance of payments is one in which more payments have come in to a country than have gone out
Merrick Company computes a predetermined overhead rate at the beginning of the year and uses it to apply overhead to jobs throughout the year. Merrick has several custom jobs in process. One of these jobs, C628, was in Work in Process Inventory at the beginning of month. Job C628 had direct materials of $6,200, direct labor of $8,680, and overhead of $17,360. If Merrick applies overhead based on direct labor cost, what is Merrick’s predetermined overhead rate for the year?
A) 50%
B) 200%
C) 140%
D) 280%
200% is Merrick's predetermined overhead rate for the year.
What is meant by Predetermined Overhead Rate?At the beginning of the accounting period, a predetermined overhead rate is calculated by dividing the estimated manufacturing overhead by the estimated activity base. To make it easier to determine a product's standard cost, the predetermined overhead rate is then applied to production.
The rate at which manufacturing overhead is applied to work-in-process inventory is predetermined. Before the period begins, the pre-determined overhead rate is calculated. Estimating the amount of the activity base required to support operations during the upcoming period is the first step.
It anticipates 2,000 direct labor hours for the upcoming year. The predetermined overhead rate can be calculated using this data. Ralph's Machine Tools Company's predetermined overhead rate is as follows: $7.50 per direct labor hour for $15,000 divided by 2,000 hours.
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A struggling start-up firm needs a huge cash injection. It has an environmentally-friendly pesticide that is approved for use by commercial organic farmers. The pesticide is made from all-natural ingredients and has great potential. A small investment firm has injected cash in the start-up. In the context of the bcg matrix, green scene is most likely considered a
The pesticide has a lot of possibilities and is made entirely of natural ingredients. The firm has received injected cash from a minor asset. Given the matrix, Green Scene is seen as a problem child.
What does it mean to inject cash?a fast infusion of cash, typically to bolster the finances of a company or other organization and contribute to a specific initiative. The institution has received a large cash infusion to research a novel pain treatment technique.
How do you infuse money?When capital is pumped into a company, investment strategy, or project, a sizable sum is gathered in the cash, assets, stock, or debt. Long-term gains are what investors seek in return. Any financial transaction or commercial operation must have funding in order to be carried out.
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An alleged $500 million Ponzi scheme preyed on Mormons. It ended with FBI gunfire. In Las Vegas, a lawyer with huge gambling debts is accused of ...
A $500 million Ponzi scam allegedly preyed on Mormons. It came to an end with FBI gunshots. A lawyer in Las Vegas is accused of financial fraud after incurring massive gaming debts.
What exactly is financial fraud?Financial fraud occurs when someone deprives you of money or capital or otherwise hurts your financial health by deceitful, misleading, or unlawful methods. This can be accomplished through a variety of means, including identity theft and investment fraud.
Additional criminal activities, such as computer crime and elder abuse, as well as violent crimes such as robbery, armed robbery, or murder, may be involved in financial crimes. Individuals, businesses, and organized criminal organizations can all commit financial crimes. Individuals, organizations, countries, and whole economies may all be victims.
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how did nafta affect the economies of participating countries? by creating unrestricted trade benefits by raising employment rates and standards of living by creating a balance of exports and imports
The correct statement is 4. NAFTA affect the economies of participating countries by increasing the overall volume of production.
The North American Free Trade Agreement or NAFTA is endorsed in 1994. by Canada, Mexico, and the US, making a three-sided exchange coalition in North America. It will be supplanted by the 2018 US, Mexico, and Canada Understanding. Since it is an economic deal, it should increment exchange between these nations which will bring about the expanded creation. Donald Trump said that he was pulling out of NAFTA and that would have a scope of ramifications for the U.S. by counting scaled-down admittance to the product markets, discounted monetary development, and expanded costs for fuel, vehicles, organic products, and vegetables.
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Complete Question -
How did NAFTA affect the economies of participating countries?
by creating unrestricted trade benefitsby raising employment rates and standards of livingby creating a balance of exports and importsby increasing the overall volume of productionthe accounts in the ledger of seaside furniture company as of august 20y5 are listed in alphabetical order as follows. all accounts have normal balances. the balance of the cash account has been intentionally omitted. line item description amount accounts payable $40,050 accounts receivable 80,050 cash ? common stock 156,900 dividends 43,000 fees earned 667,100 insurance expense 12,650 land 182,800 miscellaneous expense 18,700 notes payable 87,000 prepaid insurance 6,000 rent expense 126,700 retained earnings 29,900 supplies 4,000 supplies expense 16,700 unearned rent 19,300 utilities expense 89,400 wages expense 373,600
After entering all the entries in the ledger we can find the difference in total cash balance in the following manner: $3,260,000- $3,052,675= $207,325
A ledger is an accounting book or group of books where account transactions are noted. Each account has a beginning or carry-forward balance, as well as the ending or closing balance, and would record each transaction as either a debit or credit in distinct columns.
The three types of ledgers are:
General ledger.Sales ledger or debtor's ledger.Purchase ledger or creditor's ledger.To put it simply, all transactions and events are double-entered into the ledger accounts. They are the main books or files used to track and add up financial transactions by account. The summary totals included in the ledgers are used to create an entity's financial statements.
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Different amounts demanded at every price, causing the demand curve to shift to the left or the right.a. Change in demandb. Change in quantity demandedc. Complementsd. Income effecte. Substitutes
Option A. A change in demand is a shift of the entire demand curve to the left or right.
It occurs when the quantity demanded changes at every price level due to a factor other than price, such as a change in consumer preferences, income, or the availability of substitute goods or services.
In contrast, a change in quantity demanded (B) refers to a movement along the demand curve in response to a change in price, holding all other factors constant. Complements (C) are goods or services that are consumed together, so a change in the price of one good affects the demand for the other. The income effect (D) is the change in quantity demanded of a good or service resulting from a change in the consumer's purchasing power due to a change in income. Substitutes (E) are goods or services that can be used in place of one another, so a change in the price of one good affects the demand for the other.
Therefore, the correct answer is A. Change in demand.
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Different amounts demanded at every price, causing the demand curve to shift to the left or the right.
A. Change in demand
B. Change in quantity demanded
C. Complemented
D. Income effect
E. Substitutes
in the circular-flow model firms: please choose the correct answer from the following choices, and then select the submit answer button. answer choices sell goods and services in the markets for goods and services. sell goods and services in factor markets. buy goods and services in factor markets. buy goods and services in the markets for goods and services.
The circular flow model demonstrates how money contributes to the transformation of inputs into finished goods and services, which are subsequently exchanged with consumers in exchange for further funds.
This money enables businesses to enhance their output and capacity for profit while also continuing to produce these goods and services. Understanding the flow of money within an economy is the fundamental goal of the circular flow model. It divides the economy's key actors into two groups: families and companies. It distinguishes between the markets for goods and services and the markets for the inputs to production on which these participants trade. For more accurate cash flow tracking, more sectors can be included.
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the valuation of common stock today primarily depends on:_____.
A common stock's value is currently determined by the number of shareholders and the number of outstanding shares.
What do we mean by common stocks?A form of corporate equity ownership and a kind of security is common stock. Outside of the United States, the words voting share and ordinary share are widely used.
In the UK and other Commonwealth nations, they are referred to as equity shares or ordinary shares.
This kind of share entitles the bearer to a portion of the company's income as well as voting rights regarding corporate policy and the make-up of the board of directors.
Currently, the number of shareholders and the number of outstanding shares determine a common stock's value.
Therefore, a common stock's value is currently determined by the number of shareholders and the number of outstanding shares.
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suppose a firm maintains a positive retention ratio and keeps its debt-equity ratio constant every year. when sales grow by 20%, the firm has a negative projected efn. a) can you tell, with certainty, that the sustainable growth rate is greater than/equal to/ less than 20%? why/why not? b) do you know with certainty that the internal growth rate is greater than/equal to/ less than 20%? why/why not
Because at a 20% growth rate the negative EFN shows that there is excess finance still available, the sustainable growth rate is higher than 20%.
The sustainable and internal growth rates would be identical, and the internal growth rate would be higher than 20%, if the company is entirely funded by stock. It is unclear if the internal growth rate would be larger than or less than 20% because the internal growth rate is usually smaller than the sustainable growth rate when the company has debt. The firm will have more internal funding sources available if the retention ratio rises, but it will also have to take on more debt in order to maintain the same debt/equity ratio, which will result in a fall in the EFN.
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formed by workers to address poor work conditions faced by workers
True or False
The statement is True i.e., Labor unions are formed by workers to address poor work conditions faced by workers.
What is the history of labor unions?A labor union is an organization of workers created to bargain collectively with an employer on behalf of the rights and interests of the workforce. The first trade union was founded in 1794, marking the beginning of sustained trade union organization among American workers.
What exactly is a labor union and what does it do?Any union or group of workers in the private sector that arises entirely or in part to engage in collective bargaining or negotiate employment terms and conditions with employers is referred to as a labor organization.
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13. Adam Smith argued that each person in a competitive market is led to promote thea efficient use of society's resources, because each person's intention is to make society better off.b efficient use of society's resources, even though it is no person's intention to make society better off.c inefficient use of society's resources, even though each person's intention is to make society better off.d inefficient use of society's resources, because it is no person's intention to make society better off.
Option b: efficient use of society's resources, even though it is no person's intention to make society better off.
Adam Smith described self-interest and competition as the "invisible hand" that guides the economy in a market economy.
This episode of the Economic Lowdown podcast series explores these concepts and their importance to understanding economic systems.
A market economy is an economic system in which individuals own most of their resources, such as land, labor, and capital, and control their use through voluntary market decisions.
It is a system in which the state only plays a subordinate role. Self-interest and competition are his two powerful forces in this type of economy.
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Complete question:
Adam Smith argued that each person in a competitive market is led to promote the
a efficient use of society's resources, because each person's intention is to make society better off.
b efficient use of society's resources, even though it is no person's intention to make society better off.
c inefficient use of society's resources, even though each person's intention is to make society better off
.d inefficient use of society's resources, because it is no person's intention to make society better off.
what is the amount of the annual coupon payment for a bond that has 6 years until maturity, sells for $1,050, and has a yield to maturity of 9.37%?
The annual coupon payment for the bond is $74.44.
To calculate the annual coupon payment for a bond that has 6 years until maturity, sells for $1,050, and has a yield to maturity of 9.37%, you will need to use the following formula:
Annual Coupon Payment = (Coupon Rate * Face Value) / Number of Coupon Payments per Year
First, you need to find the coupon rate of the bond. To do this, you can use the following formula:
Yield to Maturity = [(Annual Coupon Payment / Bond Price) + ((Face Value - Bond Price) / Years to Maturity)] / 2
Rearranging the formula, we can solve for the annual coupon payment:
Annual Coupon Payment = Coupon Rate * Face Value
where the coupon rate is the annual coupon payment as a percentage of the face value.
Plugging in the given values, we have:
Yield to Maturity = 9.37%
Bond Price = $1,050
Face Value = $1,000
Years to Maturity = 6
Using the yield to maturity formula above, we can solve for the coupon rate:
9.37% = [(Annual Coupon Payment / $1,050) + (($1,000 - $1,050) / 6)] / 2
Solving for Annual Coupon Payment, we get:
Annual Coupon Payment = Coupon Rate * Face Value = $74.44
Therefore, the annual coupon payment for the bond is $74.44.
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five years from today, you hope to donate $10,000 to the alumni association. thereafter, you intend for your annual contributions to grow at a rate of 3 percent per year, forever. if you can earn 7 percent per year on your investments, how much must you invest today to fund this donation?
If you can earn 7 percent per year on your investments, $750 must be invested today to fund this donation.
To calculate this, we first need to calculate the future value of the $10,000 donation. 25 years from now, with an annual growth rate of 3%, the donation will be worth $17,497. We can then use the present value of an annuity formula to calculate is the present value of the donation: PV= Fv*(1-(1+r)^-n)/r, where Fv is the future values, r is the interest rate of &%, and n is the number of years (25).
The result is the present value of the donation, which is $7500. therefore, in order to fund the $10,000 donation 35 years from now, $7500 must be invested today .
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A change in taxes and subsidies on producers alters market?
Taxes reduce supply, changing the market's equilibrium to one with a higher price and less supply. A subsidy boosts supply, changing the market's equilibrium to one with a lower price and more products.
How do tax and subsidy policies impact market supply?Taxes and regulations are seen by the firm as additional production costs that cause supply to shift to the left and cause the firm to produce less at each price point. Government assistance lowers production costs and boosts supply at every price, moving supply to the right.
The price of items is altered by taxes and subsidies, which has an impact on how much is consumed. The application of an Ad valorem tax differs from that of a particular tax or subsidy.
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A change in taxes and subsidies on producers can significantly alter the market by affecting the cost of production, changing the supply of goods, and shifting market equilibrium.
Explanation:Yes, a change in taxes and subsidies on producers significantly alters the market. These changes affect the cost of production and thus the supply of goods in the market. For instance, an increase in taxes raises the cost of production causing a decrease in supply. Conversely, an increase in subsidies lowers the cost of production leading to an increase in supply. The changes in supply cause shifts in the market equilibrium, thereby altering the price and quantity of goods sold in the market.
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Fill The Blank? most economists agree that ________ are the single most important source of productivity improvements.
Most economists agree that technological innovations are the single most important source of productivity improvements.
What is productivity improvements?
Productivity improvements refer to increases in the efficiency and output of production processes or workers, resulting in higher levels of productivity. This can be achieved through a variety of means, including technological innovations, process improvements, training and skill development, and investments in capital equipment.
Productivity improvements are important because they can lead to higher levels of economic growth and overall prosperity. By increasing the efficiency of production, businesses can produce more goods and services at a lower cost, which can lead to higher profits and increased competitiveness.
At the same time, higher levels of productivity can lead to higher wages and improved living standards for workers.
In addition, productivity improvements are important for maintaining the long-term sustainability of the economy.
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Which of the main components of money management includes cash flow statements of income and expenses?
OA. financial records
OB. personal financial statements
O C.
budgeting
OD.
filing taxes
Answer:
Explanation:
The main component of money management that includes cash flow statements of income and expenses is OB. personal financial statements.
Personal financial statements provide a snapshot of an individual's financial situation and help to track their income, expenses, and net worth. Cash flow statements are an important part of personal financial statements and provide detailed information about an individual's sources of income and their monthly expenses. By keeping a record of cash flow, individuals can see where their money is going and make informed decisions about spending and saving.
operational strategies in manufacturing to improve efficiency is typically classified at which strategy level?
Operational strategies in manufacturing to improve efficiency are typically classified at the operational strategy level.
What is Operational strategy?The method a business uses to manage its ongoing operations in order to accomplish its long-term objectives is known as an operational strategy.
The pattern of strategic decisions and actions that define the purpose, goals, and activities of an operation is known as its operations strategy.
The tools used to produce goods and services are operations. Operational, which means daily and specific, is the antithesis of strategy. Operations can be studied from both a tactical and a strategic perspective. It is also customary to make a distinction between the operations strategy's method and substance.
Therefore, Operational strategies in manufacturing to improve efficiency are typically classified at the operational strategy level.
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the savings equation tells us that to reduce a current account deficit, a country must increase its private savings, reduce domestic investment, or cut its government budget deficit. some people recommend restrictions on imports from china to reduce us current account deficit. how would higher us barriers to imports affect its private savings, domestic investment and government deficit? do you agree that import restrictions would necessarily reduce a us current account deficit?
Raising US import tariffs on Chinese goods might lead to a decline in domestic investment and savings as well as an increase in the budget deficit. It might not always result in a smaller US current account deficit.
Because Chinese imports are less expensive than domestically manufactured items, higher import barriers in the US would limit individual savings. As a result, there would be a rise in the cost of products and a fall in real income, which would reduce private savings. Additionally, because companies would be motivated to make more items domestically rather than importing them from China, increased import barriers would boost domestic investment. The deficit in the government budget would not be impacted by this. As the US current account deficit can also be impacted by other variables such as the value of the US dollar, foreign investment, and international trade rules, it cannot be stated that import limitations will inevitably lower the deficit.
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Transcribed image text: If a firm expects that the price of its product will be lower in the future than it is today, the firm has an incentive to increase supply now and decrease supply in the future. the firm has an incentive to decrease supply now and increase supply in the future. the firm has tin incentive to increase quantity supplied now and decrease quantity supplied the future. the firm will not change supply until it knows for certain what will happen to its price.
If a firm expects that the price of its product will be lower in the future than it is today, the firm has an incentive to increase supply now and decrease supply in the future. Thus option (a) is correct.
What is supply?The supply refers to the quantity of a good or service that producers are willing and able to offer for sale at a given price and time. In other words, supply represents the amount of a product or service that suppliers are willing to provide to the market.
The law of supply states that, all other things being equal, as the price of a product or service increases, the quantity supplied increases, and vice versa.
If a firm expects that the price of its product will be lower in the future than it is today, the firm has an incentive to increase supply now and decrease supply in the future. Therefore, option (a) is correct.
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denotes that the demand in business markets is closely associated with the demand for consumer goods. a. direct demand b. autonomous demand c. concentrated demand d. composite demand e. derived demand
Option e: Derived demand. Derived demand denotes that the demand in business markets is closely associated with the demand for consumer/customer goods.
In economics, derived demand is demand for one factor of production or intermediate product that results from demand for another intermediate or finished product.
Essentially, a firm's demand for factors of production, for example, depends on consumer demand for the products it produces. The term was first introduced in 1890 by Alfred Marshall in Principles of Economics. Demand for all factors of production is considered derived demand.
This is similar to the concept of common demand or complementary goods, where the amount one consumes is positively related to the amount consumed by the other.
Example: If a good requires capital and is in production, the production rate will automatically increase. That is, direct demand or derived demand.
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