When a firm is producing the quantity where the price is equal to the marginal cost of producing additional goods, it is known as allocative efficiency.
How do you explain marginal cost?
The additional cost to create each additional unit is referred to as marginal cost. For instance, ten cups of coffee might cost $10 to produce. Another would cost $0.80 to produce. As a result, that is the marginal cost, or the extra expense incurred to generate one additional unit of output.
What does the marginal cost formula?
Total Cost of Production minus Total Cost of Production of a Standard Unit equals Change in Total Cost. Change in Quantity is calculated as Total Quantity Product minus Total Quantity Product of Additional Unit.
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The interactions of producers and consumers in individual markets are part of the study of?
Microeconomics research individuals and corporations' selections to allocate production, exchange, and consumption assets. Microeconomics deals with expenses and production in single markets and the interplay among one-of-a-kind markets but leaves the look at of financial system-huge aggregates to macroeconomics.
Similarly, we throw light on the interplay between the statistics marketplace and product marketplace both of which stand up in consumer-producer interaction: the purchaser materials facts and the manufacturer components the product. Consumer input into producing the final product this is ate up with the aid of them can take many bureaucracies.
Microeconomics is a department of economics that researches the behavior of individual gadgets such as households, people, and organizations in the economy. Microeconomics is distinct from the observation of Macroeconomics, which researches the financial system as a whole entity.
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Were you to have information about the salaries of various levels of employees in each company, what would you use (mean, median, or mode) to calculate your expected salary? why?
We will use median to calculate various level of salaries of different employees.
Every individual has incomes and expenditures and some savings for the purpose of preparation of budget. Calculation of wealth can differ accordingly as wealth of the different employees would be different as per their earning.
There would be different employees in each company and taking out calculations on the basis of mean would not give any final result. Mode is the result of expected outcomes and will not give exact results. Hence, median would not be affected by small or large numbers so median would give exact results.
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How do you think americans would feel if other countries began to urge the united states to increase environmental standards?
If other countries urged the United States to increase environmental standards, the Americans would not like the interference of other countries in their domestic country.
Environmental requirements are generally set by means of government and may consist of prohibition of unique sports, mandating the frequency and methods of monitoring, and requiring permits for the usage of land or water. standards vary depending on the form of environmental pastime.
Environmental standards are administrative rules or civil regulation regulations applied for the treatment and protection of the surroundings.
The ESF enhances the world financial institution's dedication to sustainable improvement thru ten Environmental and Social requirements (ESS) that are designed to guide borrowers' environmental and social (E&S) threat management.
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The __________ is often used as the starting point for the selling and administrative expenses budget. sales budget factory overhead cost budget production budget cost of goods sold budget
The sales budget is often used as the starting point for the selling and administrative expenses budget.
A sales budget is a planning tool that allows companies to manage resources and profits based on expected sales. A master budget always begins with the sales budget, as it must be prepared first as this determines the number of units that will need to be produced.
Sales budget takes into account previous sales patterns and budgets for similar time periods so that each department can have a big-picture idea of where they stand financially. Thus, sales budget is considered as the starting point for budgeting.
Hence, option A is correct.
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Consumers with a(n) _____ are most likely to focus on making progress and accomplishing more in less time. a.innovativeness trait b.trait superstition outlook c.conspicuous consumption habit d.productivity orientation e.trait vanity outlook
Consumers with a d.productivity orientation are most likely to focus on making progress and accomplishing more in less time .
Who are Consumers with productivity orientation?Consumers with productivity orientation can be regarded as the consumer that take into consideration of all the elements that are needed to make progress and to be able to achieve things in short time.
It should be noted that Consumers with a d.productivity orientation are most likely to focus on making progress and accomplishing more in less time .
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If the quantity of loanable funds supplied exceeds the quantity of loanable funds demanded, there is a Group of answer choices surplus and the interest rate is above the equilibrium level. surplus and the interest rate is below the equilibrium level.
If the quantity of loanable funds supplied exceeds the quantity of loanable funds demanded, there is a surplus and the interest rate is above the equilibrium level.
What does it mean when there is a surplus of loanable funds?If the quantity of loanable funds supplied exceeds the quantity of loanable funds demanded, it means that there are loanable funds available in the market and no one wants to borrow them. Interest rate above the equilibrium level is a reason for this situation.
Interest rate is the rate the lender requests the borrower to pay for use of her funds. When there is an excess supply of loanable funds, interest rate would decline unit the equilibrium interest rate is reached. At equilibrium, the supply of loanable funds is equal to the demand for loanable funds.
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Supply chain software can be classified as either supply chain ________ systems or supply chain ________ systems.
Supply chain software can be classified as either supply chain planning systems or supply chain execution systems.
What are planning systems?When new residences, businesses, parks, community centers, or factories are proposed, the planning system makes sure that built development is situated appropriately. The Department for Infrastructure (DfI) and eleven local councils are in charge of various forms of planning applications.What are Manufacturing execution systems?Computerized systems called manufacturing execution systems (MES) are used in production to monitor and record the conversion of raw materials into finished goods. The information provided by MES enables manufacturing decision-makers to comprehend how present circumstances on the factory floor might be optimized to increase output. MES functions as a real-time monitoring system to enable the control of numerous manufacturing process elements (e.g. inputs, personnel, machines, and support services).Learn more about planning systems here:
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The internet offers more than a method to conduct business transactions.It serves as a(n)?
The internet offers more than a method to conduct business transactions. It serves as a communications highway.
Internet marketing can personalize offers to customers by profiling their purchase history and preferences. By tracking her websites and product information that prospects visit, you can make targeted offers that reflect their interests.
Online businesses rarely take off overnight, nor do they take more than a few years. This is especially true in highly competitive niche markets. If you haven't seen any growth in a year or two, it's probably time to reassess your business model.
Electronic commerce (e-commerce) is the buying and selling of goods and services, or the transfer of funds and data, over electronic networks (primarily the Internet). These commerce transactions are either business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer, or consumer-to-business.
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Joe deposits $1,200.00 in his checking account at the bank. If the Federal Reserve has a 10% ratio reserve requirement, how much money can now be created in the economy?
Money can be created to Joe in the economy is $1080.00.
An financial system is the large set of inter-associated production and intake sports that resource in determining how scarce sources are allocated. In an financial system, the production and consumption of goods and services are used to satisfy the wishes of those residing and running inside it. Financial system is defined as the management of financial matters for a network, commercial enterprise or circle of relatives.
calculation:-
Amount deposited by Joe is $1,200.00
Federal reserve ratio = 10%
Amount of federal ratio = ($1200 * 10)* 100
= $120
Money can be credited in the economy = ($1,200.00 - $120)
= $1080.00
Hence money created in the economy is $1080.00.
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An increase in the number of sellers of a good will __________________ for that good.
An increase in the number of sellers of a good will ceteris paribus for that good.
Ceteris paribus is a Latin expression that translates to "other things equal" in English. Other English translations of the Latin expression are "other things held constant" and "all else untouched." Ceteris paribus, which roughly translates to "all other things being equal," is a Latin expression. When all other variables are held constant, it serves as a concise indication in economics of the impact one economic variable has on another.
Ceteris paribus is a situation in which all other factors remain constant. For instance, if Coca-price Cola's decreases, ceteris paribus, its demand will rise. Ceteris paribus denotes the absence of consideration for, or assumption of, other factors.
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After the adjusting entries have been completed, the adjusted balance in the supplies expense account represents the cost of supplies:______.
After the adjusting entries have been completed, the adjusted balance in the supplies expense account represents the cost of supplies used during the accounting period.
An accounting period, which might be a week, month, or quarter in addition to a calendar or fiscal year, is a time frame that is used to perform specific accounting operations. The accrual method of accounting enables consistent reporting because accounting periods are formed for reporting and analysis reasons.
In bookkeeping, the time frame for which management accounts and financial statements are created is known as an accounting period. The accounting period in management accounting varies greatly and is chosen by management. Accounting periods are frequently monthly.
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In the _________, the perfectly competitive firm will seek out ________________________.
In the long run, the perfectly competitive firm will respond to profits by improving its production.
In the long run, perfectly competitive firms will react to profits by expanding production. They will react to losses by decreasing production or leaving the market.
What happens to a perfectly competitive firm in the long run?There exist no economic profits in a perfectly competitive market in the long run because ultimately, the drivers of profits end to exist.
In the long run, perfectly competitive firms will respond to profits by diminishing production.
A perfectly competitive firm generally improves its marginal revenue with each further item sold, and a monopolist lowers its marginal revenue as the amount of sales enlargements.
A perfectly competitive business must obtain the equilibrium price at which it markets its products because it exists as a price taker. A completely competitive business will not be capable to develop any sales if it aims to charge a small amount beyond the going rate.
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Fine properties, inc. , negotiates with general maintenance corporation to include a liquidated damages clause in their contract. To be enforceable, at the time of the contract, an estimate of the damages from a breach must be.
To be enforceable, an estimate of the damages from a breach must be difficult.
Liquidated damages clauseA liquidated damages clause establishes a predetermined quantity of money that must be paid as damages for disappointment to act under a contract. The liquidated damages is to be the parties' best estimate of the damages that will be caused by a breach at the time they sign the contract.
A liquidated damages clause iis unenforceable in 2 circumstances:
(1) if the damages streaming from a breach of the contract were ascertainable at the time of implementation;
or
(2) if the damages fixed were conspicuously undue to the potential losses.
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Tamara has submitted several resumes and anticipates receiving calls regarding interviews. to ensure that she makes the best first impression, she should ________.
Tamara has submitted several resumes and anticipates receiving calls regarding interviews.
To ensure that she makes the best first impression, she should allow calls from unfamiliar numbers to go to voicemail and call back after she has had time to gather her thoughts.
What is a resume?A resume is a personal description of your education, experience, training, and talents. A way to inform companies what you've done in the past and what you can do for them today. Your most significant job search tool for getting an interview and making a good impression on a potential employer.The reverse-chronological resume structure is unquestionably the finest. This is why: It's simple to read and skim. This format is known to recruiters and hiring managers because it is used by the majority of people.
Therefore, to ensure that she makes the best first impression, she should allow calls from unfamiliar numbers to go to voicemail and call back after she has had time to gather her thoughts.
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Which voice may make external messages appear to focus too much on your company instead of the customer?
we- voice may make external messages appear to focus too much on your company instead of the customer. Information exchange between a company and a third party outside organization is known as external communication. Although it is aimed for outside audience, the message may still be accessible to those inside the organization.
Tornado or other external force that has the power to demolish your home is an example of an external force. Every form of business communication involves the sending and receiving of information between two parties. The parties concerned, however, choose whether the communication takes place internally or externally.
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Wilson's realty has total assets of $824,510, net fixed assets of $475,137, current liabilities of $82,183, and long-term liabilities of $509,553. what is the total debt ratio?
Wilson's realty has total assets of $824,510, net fixed assets of $475,137, current liabilities of $82,183, and long-term liabilities of $509,553
Total Debt Ratio is 0.17
total debt ratio = total liability / total assets
= current + long-term liabilities / total assets
= 82183 + 509553 / 824510
= 0.71
Note: TDR = total assets - total equity / tot assets
The ratio of total debt to total assets, represented as a decimal or percentage, is known as the debt ratio. The percentage of a company's assets that are financed by debt is one way to understand it. Ratio larger than 1 indicates that a significant portion of a firm's assets are financed by debt, indicating that the company has more liabilities than assets.
A debt ratio of less than 100% signifies a corporation has more assets than debt, and a debt ratio of larger than 1.0 or 100% means the opposite.
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PLEASE HELP THERE ARE TWO SCENARIOS
Scenario A
College graduates are moving back in with family in record numbers. They are waiting longer than previous generations to buy homes and start families. Data show downward trends in new home building, mortgage applications, and the birthrate. Multiple markets are complaining of falling demand. A national supplier of home goods permanently shut down. The media is calling babies born today part of the “baby bust generation.” Economists predict future school closings and labor shortages.
Scenario C
The media report that an “epidemic of the jobless” has emerged. Major corporations and small businesses alike are laying off workers. People are out of work in record numbers and struggling to find jobs. Some admit that they have given up looking. Housing foreclosures are increasing, while banks say they lack the funds to approve new loan applications or to adjust existing loans. Requests for unemployment, housing, and nutrition assistance are at record highs. Charity organizations are not receiving enough donations to meet the growing need in their communities. Credit card companies say the average debt balance is climbing while repayments are falling behind.
Would the Fed address the scenario with expansionary or contractionary policy? Explain.
What is a specific monetary action the Fed might use in this scenario? Identify the tool and how the Fed would use it. Explain how this would address the scenario.
What is a specific fiscal action that Congress might use in this scenario?
It is correct to state that the Fed will address the scenario with expansionary policy.
What is an expansionary policy?
An expansionary policy is one that seeks to increase the amount of money so that aggregate demand can be stimulated.
What is a specific monetary action the Fed might use in this scenario? Identify the tool and how the Fed would use it. Explain how this would address the scenario.When money is injected into the economy using tools such as
Examples of fiscal polices that the congress might enlist for deployment in this scenarios are:
To increase aggregate demand, Government will inject more money in to the economy by buying back bonds or embarking on projects at the state and local levels.
Reduction of taxes will also help put more money in the hands of people, thus increasing aggregate demand.
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Answer:
flvs
Explanation:
A
would the red address the scenario with
expansionarv or contractionarv policy? Explain.
The Fed would address this with expansionary.
Which means they would give out more money
What is a specific monetary action the Fed might use
in this scenario? Identity the too and how the red would use it. Explain how this would address the
The action they would use is decrease the reserve requirement. By doing this, banks would be able to give out more money Que to them not needing to
Keen as much monev in reserve
What is a specific fiscal action that Congress might use in this scenario?
Decrease taxes due to schools and labor shortages are happening. Which mean that business and schools wont need to dav as much as taxes
B
Would the red address the scenario with
expansionary or contractionary policy? Explain.
The red would use contractionary due to rising prices and it can slow down
What is a specific monetarv action the Fed might use in this scenario? Identify the tool and how the Fed would use it. Explain how this would address the
scenario
They would sell more government securities so that less money would be in circulation and daily operations being tunded
What is a specific fiscal action that Congress might
use in this scenario?
Congress might decrease taxes due to things being expensive and we needing more money to be in
circulation.
C
Would the red address the scenario with expansionary or contractionary policy? Explain.
The Fed would use expansionary policy due to people not having money and needing it.
What is a specific monetary action the Fed might use in this scenario? Identify the tool and how the Fed would use it. Explain how this would address
the scenario.
The monetary action is that they would decrease reserve requirement and buy government securities. They would give out more money and create funding programs for those who are unemployed.
What is a specitic fiscal action that congress might use in this scenario?
Decrease taxes so that others can buy food and with the money they have left, they are able to buy their needs
So you them the answer you submit must be the d operators; they are pald $8. 10 an hour each and work 40 hours a week and 52 weeks a year. The machines break down periodically, resulting in annual repair costs of $1,320 for each and supplies cost $960 a year for each machine. Vill have a life of 5 years and a total disposal value at that time of $1, 500. The kodak system will require only 2 regular operators. Supplies wil be $3,600 per year. Kodak has offered the college a maintenance contract that covers all machine breakdowns; the cost of the contract is $1,020 per year. Total cost for all favor keeping the canon copiers, enter your net present value difference as a positive number; if.
The net present value for all favor keeping the canon copiers $6580
What is net present value?The net present value, also known as net present worth, is applied to a series of cash flows that occur at different dates. The present value of a cash flow is determined by the time elapsed between now and the cash flow. It is also affected by the discount rate. The temporal value of money is accounted for by NPV.
The term net present value (NPV) refers to the current total value of a future stream of payments. If the net present value (NPV) of a project or investment is positive, it signifies that the discounted present value of all future cash flows associated to that project or investment will be positive, and hence appealing.
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The net present value for all favor keeping the canon copiers $6580
What is net present value?
The net present value, also known as net present worth, is applied to a series of cash flows that occur at different dates. The present value of a cash flow is determined by the time elapsed between now and the cash flow. It is also affected by the discount rate. The temporal value of money is accounted for by NPV.
The term net present value (NPV) refers to the current total value of a future stream of payments. If the net present value (NPV) of a project or investment is positive, it signifies that the discounted present value of all future cash flows associated to that project or investment will be positive, and hence appealing.
How Is NPV Calculated?
NPV is calculated by taking the present value of all cash flows over the life of a project. Then, the present value of cash flows is subtracted from the investment's initial investment. If the difference is positive (greater than 0), the project will be profitable.
What Is Net Present Value (NPV) Used For?
Net present value (NPV) is used in capital budgeting to determine whether a project will be profitable, or to evaluate different projects and determine which one will be the most profitable.
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Optimization is the process that describes __________. a. the choices that make. b. how to obtain relevant data. c. the budgeting process for. d. how to maximize. e. the production of resources
Optimization is the process that describes the choices that businesses make.
The act of finding and applying innovative strategies to increase a company's productivity and profitability is known as "business optimization."
While pursuing the principle of continuous improvement promulgated by the Kaizen Institute in Japan is the ultimate objective, a business optimization project is the first step.
The organization must specify precise objectives as well as measurable targets and goals as part of that initial phase. Any optimization modeling technique must include this critical phase.
The choice of competent staff to manage the process and executive backing are both crucial. For many reasons, employing an internal team of business experts rather than utilizing outside consultants is preferable.
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When is the total dollar expenditure on the market basket in the base year the same as in the current year?
If it is the case there is no inflation that has happened. The prices remain the same this is the total dollar expenditure on the market basket in the base year is the same as in the current year.
Base year CPI is always 100. This benchmark allows you to easily compare changes between the current year and a base year and compare several different economic indicators starting from the base year.
An economy is considered to be at full employment if the actual unemployment rate is equal to the natural rate of unemployment. At full employment, real GDP equals potential real GDP.
The natural rate of unemployment (NRU) is the rate of unemployment that exists when the economy is at full employment and producing real output. NRU equals the sum of frictional unemployment and structural unemployment is the total dollar expenditure.
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In this case there is no inflation. Prices remain the same.
Base year is the base year against which price comparisons are based. CPI compares the current prices of the commodities in the basket with the prices of these commodities in the base year. Here is a simple example of CPI calculation: Suppose Country A has only 3 items in its shopping cart.
The government announced Monday that he has no plans to change the base year for calculating Gross Domestic Product (GDP) from 2020 to 2021. The current base year for GDP calculation at constant prices is 2011-12.
For financial measures, the base year is the first year of several years. Usually set to an arbitrary amount of 100. New and current base years are added regularly to keep the data in one database up to date.
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If you want to compare your qualifications to an employers requirements, a t-letter is the best cover letter format to use. please select the best answer from the choices provided t f
Yes it’s true, If you want to compare your qualifications to an employer's requirements, a T-letter is the best cover letter format to use.
What is a cover letter? It is a form of an application that goes along with an applicant’s resume. It contains information about why you should be selected and where you got the information about the vacancy from. It must not contain any unnecessary information like your need for the job. It should not be extremely long and it should tell why a person is deserving of the role that they have applied for. A T-format cover letter uses a tool to divide the letter into two parts. It is best to compare your qualifications to an employer's requirements.To learn more about resume visit:
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The given statement "compare your qualifications to an employers requirements, a T-letter is the best cover letter format to use. " is True.
What is T-letter?
T-letters are similar to cover letters, except they don't "cover" anything. The T-letter begins with a paragraph and then has two columns. You provide the employment requirements for the potential employer in the left column, and you mention your qualifications in the right column in relation to those requirements.
What is cover letter?
One page long and attached to your job application is a cover letter (alongside your CV or Resume). Its goal is to give you a concise introduction and rundown of your professional history. Your cover letter should be between 250 and 400 words in length on average.
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Financial economists prefer to use market values rather than book values when measuring debt ratios because market values are:_________
Financial economists prefer to use market values when measuring debt ratios because market values are more stable than book values.
Financial economics is the branch of economics characterized by a "concentration in financial activity" where "money of some kind is likely to appear on both sides of the transaction".
Financial economists study financial and banking systems and the effects of rising interest rates. Fiscal economists are primarily interested in studying the role of government in the economy and the impact of tax cuts, budget deficits, and welfare policies.
Employment opportunities for financial management students are very good. Whether you want to work as an economist, portfolio her manager, risk management consultant, or financial analyst, this course introduces you to quantitative techniques that are very useful in the financial industry.
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Amazon.com and expedia.com are best described as ________ that sell products and services directly to final buyers via the internet.
Amazon.com and expedia.com are best described as e-tailers that sell products and services directly to final buyers via the internet.
E-tailers mean Electronic retailers. An e-tailer is a store or individual who does business only or primarily on the internet. Thus, through this form of electronic commerce consumers directly buy goods or services from a seller via the internet rather than physically entering a store.
E-tailing is able to reach a broader range of consumers, and consumers are able to purchase unique products not offered in their country.
Hence, Amazon.com and expedia.com are the best examples of e-tailers that sell products and services directly to final buyers via the internet.
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Where should you explain the factors that led you to submit an unsolicited proposal, such as conversations with members of the recipient's organization?
Solicited business proposals are executed in reaction to a purchaser's want, at the same time as unsolicited proposals are used to market it to capacity customers.
It is an internal suggestion due to the fact it's miles from a worker in the organization. And unsolicited due to the fact this is an idea that became an independent idea up and the employee now desires to endorse this idea to the top of the employer.
The advent of an unsolicited proposal consists of a statement of the hassle or opportunity that the concept addresses to reinforce the argument stated in the record.
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Quentin's 2014 net income was $5,000. no dividends were declared or paid during 2014. what was quentin's retained earnings balance on december 31, 2013?
$39,000 was Quentin's retained earnings balance on December 31, 2013.
Retained Earnings in the Beginning (December 31, 2013) =
2014 Retained Earnings - Net income =44,000-5,000 =39,000(Answer)
current Ratio = Current Assets / Current Liabilites =90,000 /72,000= 1.25
Calculating the outstanding balance is very simple. Simply divide the company's current assets by its current liabilities. Current Ratios are assets that can be converted into cash within one year, and current liabilities are liabilities expected to be repaid within one year.
current Ratio relate to the company's financial obligations to be paid within one year. A higher liquidity ratio is clearly advantageous for business. A good cash ratio is between 1.2 and 2. This means that the company has liquid assets twice as much as its liabilities to cover its liabilities.
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In the elasticity of supply or demand in a market for a good that is taxed would tend to?
In the elasticity of supply or demand in a market for a good that is taxed would tend to decline in demand and supply.
What is demand?
Demand is merely a consumer's desire to acquire goods and services immediately and to pay the price linked with them. Demand may be defined as the amount of things that consumers are prepared and willing to consume at various prices within a specific amount of time.
Demand is based on preferences and choices, which may be described within terms of the price, perks, profit, and other considerations. The number of items that customers choose depends greatly on the price of the product, the price of competitive products, the customer's income, and his or her interests.
The quantity of a thing that a client is prepared to buy, can manage, and can afford given the current prices for products, and their spending inclinations.
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Access to lifesaving medicine is very limited in parts of africa; as a result, over 10 percent of children do not reach the age of five. What effect would this have on economic growth in africa?
Access to lifesaving medicine is very limited in parts of africa; as a result, over 10 percent of children do not reach the age of five. It would slow economic growth because worker health and labor productivity would grow more slowly.
Labor productivity measures the output of a country's economy computed on hourly basis. Especially, it charts the amount of real gross domestic product (GDP) produced by an hour of labor.
Growth in labor productivity depends on three main factors: saving and investment in physical capital, new technology, and human capital.
Labor productivity should always not to be confused with employee productivity, which is a measure of an individual worker's output.
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What is the december 31, 2025 balance of retained earnings on the balance sheet?
Retained profits are shown on the balance sheet at the end of each accounting period as the total income from the prior year (including the current year's income), and fewer dividends paid to shareholders.
What is retained earnings with example?
The total profits left over after a corporation pays dividends to its shareholders are known as retained earnings. These funds might be put back into the company by, say, buying new machinery or paying off debt.
Is retained earnings the same as profit?
Your company's profits less any stock dividends or other distributions equal your retained earnings. Because you might have a positive net income but a negative cash flow after dividend payments, it can be a clearer measure of financial health than a company's profits.
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Describe the ways in that general and functional managers are different from end users. what purpose do these managers have in regards to information systems at an organization?
General and functional managers are different from end users. what purpose do these managers have in regards to information systems at an organization
General management focuses on the entire business as a whole a top-down organizational view. A functional manager is a person who has management authority over an organizational unit such as a department within a business, company, or other organization.
General management and functional management have many similarities; the primary difference is that a functional manager focuses on one facet of an organization, while the general manager must keep everything in view.
Functional managers are most common in larger organizations with many moving parts, where different business functions are led by managers within those respective fields.
Management is the act or art of managing things.
Department is typically understood as a part of a larger organization.
Organization refers to a collection of people, who are involved in pursuing defined objectives.
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What would be msot heloful to a pricution manger who wnate to determine the minimum time requred to complete a proposed pricut?
PERT would be most helpful to a production manger who wants to determine the minimum time required to complete a proposed production.
Program Evaluation Review Technique (PERT) is that project management planning tool which is used to calculate the amount of time it will take to realistically finish a project.
PERT charts are generally used to plan the tasks within a project.
It will make it easier to schedule and coordinate all the team members.
PERT was first introduced in the Navy. PERT is similar to the critical path technique. In that they both are used to visualize the timeline and the work that must be done for a project. However with PERT, three different time estimates for the project can be created.
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