Consumer choice is influenced not only by the marginal utility that extra units of a good will yield, but also by how much satisfaction must be given up to obtain extra units of the good.
What is marginal utility?Marginal utility is extra satisfaction that is derived from having an additional product or extra unit.
Each Individual determine what to buy based on the amount of satisfaction that is derived on the product.
Therefore, consumer choice is influenced not only by the marginal utility that extra units of a good will yield, but also by how much satisfaction must be given up to obtain extra units of the good.
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the ability to produce a good or service at a lower overall cost.
A) absolute advantage
B) fiscal policy
C) contractionary policy
D) comparative advantage
E) monetary policy
F) expansionary policy
Plss help
Answer:
D) comparative advantage
Explanation:
The term used in describing the ability to produce good or service at lower overall cost is known as?
The requirement in this case is to distinguish between absolute advantage and comparative advantage, the former means the ability to produce more goods or services than a counterpart whereas the latter means producing at the lower opportunity cost.
Note that costs in Economics means both implicit(opportunity costs) and explicit costs(out of pocket expenses), in essence, a product with only implicit costs would only consider opportunity costs as overall costs.
Overall, the correct option is comparative advantage.
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As one of the factors of production, capital includes all of the following EXCEPT: Group of answer choices delivery trucks money equipment machinery tools
The factors of production, capital includes all of the following EXCEPT: Machinery.
What are the Factor of Production?The factors of production in an economy are its labor, capital, and natural resources and entrepreneurship.
Labor is the human effort that can be applied to the production of goods and services. People who are employed or would like to be are considered part of the labor available to the economy.
Capital is a factor of production that has been produced for use in the production of other goods and services. Office buildings, machinery, and tools are examples of capital.
Natural resources are the resources of nature that can be used for the production of goods and services.
An entrepreneur is a person who combines the other factors of production - land, labor, and capital - to earn a profit. The most successful entrepreneurs are innovators who find new ways produce goods and services or who develop new goods and services to bring to market.
Thus, Machinery is not the factors of production.
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An example of organizational antecedents is a. Scarcity of resources b. Role ambiguity c. Promotions d. Democratic decision making e. All of the above
Answer:
decision making
democratic
Businesses use a number of methods to gather information and create a good picture of their customer base. This ________ can help companies to validate their target market.
The information that businesses gather to create a good picture of their customer base is Market research.
What is market research?Market research is the information that a company gathers on both its customers and prospective customers.
this information would allow them to understand the needs of their customers more and therefore increase the chances of success.
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Systek 22 Inc. made a promise to Garrett offering him a job with an annual salary of $150,000 and at least two years of employment. Since Garrett had to move to New York for the new job, Systek 22 also offered to reimburse all of his moving expenses. Based on this promise, Garrett resigned from his job at another firm that offered him an annual salary of $100,000. When Garrett moved to New York, his employment with Systek 22 was terminated, because the company found a candidate who was willing to work for a lesser salary. Which of the following is true of this situation? Group of answer choices Garrett cannot sue Systek 22 since the promise was oral. Garrett cannot sue Systek 22 since the reasons for termination will be accepted in court as a legal detriment. Garrett can sue Systek 22 only for the moving expenses that Garrett can prove he incurred. Garrett can sue Systek 22 under the doctrine of promissory estoppel. Garrett cannot file a lawsuit since a promise of employment is always subject to market conditions.
Garrett can sue Systek 22 under the doctrine of promissory estoppel.
What is legal detriment?The simple act of giving up a legal right—even something as basic as the ability to spend one's money on something else—is known as a "legal disadvantage." It could also imply that the party causing the harm refrains from acting in a way that would otherwise be appropriate.
What does a legal disadvantage look like?The "something" that is promised or provided must be something that is known as a legal detriment—an act, forbearance, or a promise of such from the promise. It cannot be just anything, including a feeling of pride, warmth, amusement, or friendship.
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Compared to rail transportation, one of the advantages of shipping by truck is that trucks
Compared to rail transportation, one of the advantages of shipping by truck is that trucks "Can reach more destinations".
What is rail transportation and road transportation?Rail transportation: Train travel is another name for rail travel. It is a mode of transportation that uses cars that travel on tracks (rails or railroads). It is one of the most significant, frequently used, and highly affordable methods of transportation for both people and products across long and short distances.Road transportation: Road transport refers to the movement of people and goods across a network of roads. A road is a path between two points that has been paved or otherwise improved to allow travel by both motorised and non-motorised carriages.The advantages of raid transport over rail transport are-
Road construction is substantially less expensive than building railroads. In hilly and undulating terrain, roads may be built with ease. Highways connect railway stations, airports, and seaports, acting as a feeder to other forms of transportation.They offer individuals and vehicles to commute to a variety of areas and assist them in getting there without any problems.Road transport is the practice of moving goods or people along a road network from one location to another.To know more about benefit of road transportation, here
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Sam, a buyer for a small warehouse company, is looking to purchase a forklift from caterpillar or komatsu. He is looking for a reliable, narrow forklift to fit between the warehouses’ smaller aisles and that is a lower price. Sam doesn’t need added-on services; he is well-versed in using and maintaining large equipment. He evaluates the forklift types and decides on a komatsu. Sam chooses the komatsu for its perceived reliability and it is $1500 less than the caterpillar forklift. Which approach that komatsu took was a success for sam as a customer?.
Komatsu reduced its perceived costs enough to undercut its competitors perceived values.
The perceived value of a pastime is described as the unit value that a customer thinks he incurs with the aid of a venture a specific pastime. A consumer's expenditure consists of direct charge and non-rate cost factors which we assume to be independent.
When making a buy, a purchaser values a product's benefit higher than its function. for instance, a consumer would not purchase a drill to have a drill. He buys a drill to have the capability to make holes. From maximum SaaS groups, people no longer simply purchase the software programs, but as a substitute solution.
In advertising and marketing terminology, the perceived fee is the customers' assessment of the deserves of a product or service, and its potential to satisfy their desires and expectations, specifically in contrast with its peers.
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Injurious falsehood, a common business tort, is sometimes called ________. Group of answer choices duress trade discouragement trade disparagement false imprisonment battery
Injurious falsehood, a common business tort, is sometimes called false imprisonment battery
A battery is the use of force by one person against another without consent. This tort requires physical contact. Imprisonment is the prevention of one person from moving around without the consent of another. Detention must be consensual and must be deliberately carried out on behalf of the criminal
The essential elements of deprivation of liberty are:
Intentional detention.No consent;Not legally enforceable.battery Meaning in law:
1. In criminal law, this is a physical act that results in harmful or abusive contact without the consent of others.
2. In the tort law, deliberately establishing harmful or abusive contact with another person without the consent of the other person.
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The entry to record the issuance of a note receivable is ______. Multiple choice question. debit Notes Receivable and credit Cash debit Cash and credit Notes Receivable debit Cash and Interest Receivable and credit Notes Receivable debit Cash and credit Notes Receivable and Interest Revenue debit Notes Receivable and credit Cash and Interest Revenue
The entry to record the issuance of a note receivable is debit Notes Receivable and credit Cash.
What is Note Receivable ?
A note receivable is an asset account tied to an underlying promissory note, which details in writing the payment terms for a purchase between a “payee” (typically a company, and sometimes called a creditor) and the “maker” of the note (usually a customer or employee, and sometimes called a debtor).
The journal entry for interest on a note receivable is to debit the interest income account and credit the cash account.
Notes receivable are a balance sheet item that records the value of promissory notes that a business is owed and should receive payment for. A written promissory note gives the holder, or bearer, the right to receive the amount outlined in the legal agreement.
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A decrease in the money supply is likely to cause a(n) ______ in interest rates, and subsequent ______ in investments and aggregate demand.
A decrease in the money supply is likely to cause a(n) increase in interest rates, and subsequent decrease in investments and aggregate demand.
What are the effect of decrease in money supply?When there is a reduction in flow of money it affect the business as well as countries economy such that interest rate are increase to meet up necessary country obligations and enhance money supply within the economy.
These affect individuals demand because more interest rate leads to a reduction in money at hand and how much an individual have to spend.,,
Therefore, A decrease in the money supply is likely to cause a(n) increase in interest rates, and subsequent decrease in investments and aggregate demand.
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Use the as/ad model to describe the effect of each of the following events on the economy of snezhanka (a fictitious nation). beginning with the economy in equilibrium carefully show the shift involved and the new equilibrium. state whether the p (price level) and rgdp at the new equilibrium are higher or lower. for each part of this question, start again at the original equilibrium. what will happen if:
a. taxes on households are decreased?
b. taxes paid by firms are decreased?
c. the value of the national currency, the snezhankan lev, declines in the international currency market?
d. a revolutionary new machine, the aparat, increases worker productivity?
The following would happen
Aggregate income would increase for households. They would have a rise in output. taxes on households are decreasedWhen the taxes are decreased, the households would have a rise in their purchasing power. Their output would go up form q to q2.
taxes paid by firms are decreasedThe cost of the firms production is going to fall. The firm would then be able to raise their production hence increasing their supply. Output would rise and price level would fall.
the value of the national currency, the snezhankan lev, declines in the international currency market?If the value of the currency should fall, then it would cause the demand for foreign goods to rise then there would be a new equilibrium in the market.
a revolutionary new machine, the apparat, increases worker productivityAn increase in productivity would raise supply for the producer hence bringing about a new rise in the price level.
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Franchise systems are one type of __________ distribution system. Group of answer choices corporate wholesale contractual administered
A franchise agreement is a legally binding contract between the franchise partners.
A franchise is a method of distributing products or services that involves a franchisor, who establishes the brand's trademark or trade name as well as a business system, and a franchisee, which pays a royalty and, in many circumstances, an upfront fee for the right to use the franchisor's brand and system.
Most entrepreneurs choose franchising because it allows them to expand without the risk of debt or the expense of stock. For starters, because the franchisee supplies all of the cash necessary to create and manage a unit, it allows businesses to develop by leveraging the resources of others.
The blank will be filled by contractual.
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Upward and downward changes in aggregate economic activity, as measured by GDP, are called: Group of answer choices
Upward and downward changes in aggregate economic activity, as measured by GDP, are called Business cycles.
What is Business cycles?Business cycles can be regarded as the cyclical upswings as well as the downswings that is been used in in the broad measures of economic activity.
Therefore, Business cycles is Upward and downward changes in aggregate economic activity, as measured by GDP.
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In 2005, Clear Channel (an owner of multiple popular radio stations) spun off concert promoter Live Nation into an independent company. Assume that music radio stations and concerts are complements in consumption. True or False: The price of radio programming should fall. False True
The statement the price of radio programming should fall is false.
What is Complements-in-consumption
Complements in consumption can be defined as the way in which two or more product complement each other when use of consume together or when use jointly.
Hence, Based on the scenario the statement is false because assuming the both music radio ,and concert are complements in consumption the price of radio programming will not fall.
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The failure to follow the rules for formation of a contract means no contract will come into existence. Even if it appears that a contract exists, it can have a defect that can affect the existence of what appears to be a contract. A contract that is ______ is deemed never to have existed. The contract is void and cannot be enforced against the parties.
Voidability of agreements without free consent. —When consent to an agreement is caused by coercion, fraud or misrepresentation, the agreement is a contract voidable at the option of the party whose consent was so caused.
What is a Voidable Contract ?A voidable contract is a formal agreement between two parties that may be rendered unenforceable for any number of legal reasons, which may include: Failure by one or both parties to disclose a material fact. A mistake, misrepresentation, or fraud. Undue influence or duress.
A contract signed by misleading the other party. A contract signed by due to acts of fraud. Contract signed with someone when they were temporarily incapacitated.Learn more about Voidable Contract here:
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Which of the marketing mix elements corresponds to what the buyer gives up in the marketing exchange?.
Price is the element of the marketing mix that corresponds to what the buyer gives up in the marketing exchange.
What is the marketing mix?They are the set of activities performed by marketing to promote a product or service and increase the profitability of a company. The four Ps of marketing are:
ProductPricePlacePromotionTherefore, the objective of the marketing mix is to increase the value of the brand and its positioning through the creation of value for the consumer.
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A data analyst finishes analyzing data for a marketing project. The results are clear, so they present findings and recommendations to the client. What should they have done before that presentation
Shared the results with subject matter experts from the marketing team for their input.
An advertising plan outlines your supposed marketing/advertising activities for a particular period, commonly over the following 365 days. It describes how you may reach, attract and persuade clients to buy your products or services, with clean desires, actions, and accountabilities.
The 4 PlayStation of advertising—product, fee, place, promoting—are regularly referred to as the advertising and marketing blend. These are the important thing elements concerned in making plans and advertising a product or service, and they interact drastically with every other.
An advertising and marketing plan also can be defined as a technique that facilitates a business to decide on the quality use of its resources to gain corporate targets. It can also comprise a complete evaluation of the strengths and weaknesses of a company, its company, and its merchandise.
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Kayla, an HR manager, is in the process of creating a market-competitive pay plan. For an accounting job at the firm, she has assigned the following weights: 70% for job complexity, 25% for effort, and 5% for working conditions. What is the next step Kayla must take in the process
Kayla, an HR manager, is in the process of creating a market-competitive pay plan. For an accounting job at the firm, she has assigned the following weights: 70% for job complexity, 25% for effort, and 5% for working conditions. Next step Kayla must take in the process is to find maximum number of points for job complexity.
By gathering, monitoring, and adjusting the company's financial information, an accountant assists firms in making important financial decisions. They are in charge of conducting financial audits, comparing bank statements, and guaranteeing the accuracy of financial records all year long. Job posting is free.
Occupations that are cognitively demanding and necessitate the use of an employee's personal resources to manage the level of stress involved are referred to as complicated jobs.
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A promotional tool that involves people telling other people about products they've purchased is known as a(n) ______.
Hello,
Answer:
A promotional tool that involves people telling other people about products they've purchased is known as a(n) word of mouth promotion.
The effect of a Pigovian tax on a market is: Group of answer choices increased price and quantity to the efficient level decreased price and increased quantity to the efficient level decreased price and quantity to the efficient level increased price and reduced quantity to the efficient level
D) Increased price and reduced quantity to the efficient level.
How Do Pigovian Taxes Work?Pigovian taxes, sometimes called Pigouvian taxes, are levied against private individuals or companies who engage in activities that have negative side effects on society. Costs associated with adverse side effects are those that are not accounted for in the product's market price. The selling of tobacco products puts a load on the public healthcare system and causes environmental pollution, among other side effects that have detrimental external impacts.
After English economist and early externality theorist Arthur Pigou, who made a substantial contribution, Pigovian taxes were given their name.
How Is a Pigovian Tax Calculated?
A Pigouvian tax is notoriously tricky to calculate correctly. The tax should, in theory, have a value that is exactly equal to the externality's net cost. As a result, for a particular level of production, the tax would be equal to the difference between the societal cost and the marginal private cost.
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Why do politicians often establish trade barriers even though the barriers usually do more harm than good
They are motivated to develop regulations that benefit small, powerful organizations while spreading expenses across a vast population.
Why do government use trade barriers?Governments can decide what types of goods and how much of each should enter the country by using trade barriers to either increase or limit (control) foreign commerce.What is the biggest reason for trade barriers?Tariffs and subsidies both increase the cost of imported items in comparison to native goods, which lowers imports. Because its declared goal is to safeguard or advance specific businesses or economic sectors, trade barriers are frequently referred to as "protection."Are trade barriers good or bad?Trade restrictions like tariffs, which increase prices and limit supply of products and services, have been shown to have a negative economic impact on the economy. As a result, there is a net decrease in income, employment, and economic production.Which type of trade barrier is used for political purposes?The government issues an order outlawing any trade with another nation. The embargo is the toughest kind of trade restriction and is typically implemented for political reasons to harm a nation's economy. When a nation totally forbids trade with another nation, it imposes an embargo.Learn more about trade barrier here:
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Use the graph to answer the question that follows.
Which statement best describes the shift from S1 to S2?
The price of the product increased.
The price of the product decreased.
There is an increase in supply.
There is a decrease in supply.
The statement that best describes the shift from S1 to S2 is there is an increase in supply. (third option)
What is the supply curve?A supply curve is a graph that depicts the relationship between price and quantity supplied. When there is a shift of the supply curve, it indicates that there is either an increase or decrease in supply. A rightward shift indicates an increase in supply.
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Answer:
C
Explanation:
Within the United States, the dominant body in the primary development of accounting principles is the
Within the United States, the dominant body in the primary development of accounting principles is the FASB.
What is FASB?The Financial Accounting Standards Board (FASB) is a private organisation that sets and improve the Generally Accepted Accounting Principles in the United States. It was established in 1973.
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A resource is ______ if the number of firms that possess it is less than the number of firms required to reach a state of perfect competition.
A resource is rare if the number of companies that own it is less than the number of companies needed to reach a state of perfect competition.
What is imperfect competition?It is an economic situation where there is an imbalance between supply and demand. When there is a rare resource available, companies have greater dominance over the market and over the price of the resource and negatively impact consumers.
Therefore, a situation of perfect competition is ideal for the consumer, who has several options of goods and services available at different prices.
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C. Wright Mills identified the major decision-makers at the highest levels of corporations, politics, and the armed forces in the United States as the __________.
A power elite was the name given to major decision-makers at the highest levels of corporations, politics and the armed forces.
What is a power elite?This refers to the small group of influential people that control a disproportionate amount of power and resource in a region/
Hence, they were named by C. Wright Mills because they were major decision-makers at the highest levels of corporations, politics and the armed forces.
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A _________is part of a story that gives meaning to the distinct systems of benefits that well-branded products promise to deliver.
A Brand story is part of a story that gives meaning to the distinct systems of benefits that well-branded products promise to deliver.
What is a Brand Story?A brand story explains the inspiration for beginning your firm, the reason you get out of bed each day and do what you do, why clients should be interested in you, and why they should believe in you. Building connections and trust are two things the brand narrative does. According to research, detailed stories have a powerful effect on our minds.Great branding, like great marketing, is about a never-ending, unwavering, long-lasting dedication to creating and sharing branding stories, as well as about waking up each morning energized by the chance to contribute to the creation of the next new, even more, engaging brand stories.Company storytelling is a wonderful technique to set yourself apart from the competition because no brand or organization was founded in the same way as its rival.To learn more about the brand story refer to:
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Ames Trading Company has the following products in its ending inventory. Product Quantity Cost per Unit Market per Unit Mountain bikes 15 $ 720 $ 660 Skateboards 30 200 270 Gliders 24 770 720 Compute lower of cost or market for inventory applied separately to each product.
The total Lower of Cost or Market is $38870.
What is Lower of Cost or Market?Companies using U.S. GAAP must value their inventories using the lower of cost or market (LCM) technique. The lower of the original cost or market value is used to value inventory in the lower of cost or market approach, as the name suggests.We have,
Mountain Bikes: 15 units, cost: $710, market: $660, total cost: $10,650, total market: $9900, LCM: $9900
Skateboards: 20 units, cost: $260, market: $290, total cost: $7800, total market: $8700, LCM: $7800
Gliders: 29 units, cost: $810, market: $730, total cost: $23490, total market: $21170, LCM: $21170
Total cost: $41940
Total market: $39770
Total LCM: $38870
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Dante is making his first purchase using a credit. He asks his friend Tay to educate him about using credit. What is the BEST advice Tay can give him?
The BEST advice Tay can give him about his first purchase is A. Be prepared to pay back the original amount and additional interest.
What is a Business Advice?This refers to the financial advice that is given to a person when he is about to embark on a business to guide him not to make wrong choices.
Hence, we can see that based on the fact that Dante wants to use credit to make his first purchase, it is important that he knows that he would repay the amount, plus an additional amount, known as interest.
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The general acceptance by russians of hierarchy and power differentials arising from social status reflects their:.
The values of Russia show their acceptance of hierarchy and power arising from social status.
Russians (Russian: русские, Roman: russkiye) are an East Slavic ethnic group native to Eastern Europe that shares a common Russian ancestry, culture, and history. The most widely spoken Slavic language, Russian, is the common native language of Russians. And Orthodox Christianity has been their historical religion since the 11th century. They are the largest Slavic nation and the largest European nation.
Russians are formed from the East Slavic tribes and their cultural ancestors come from the Kievan Rus. Genetically, the majority of Russians are the same as their eastern and western Slavic counterparts. Unlike the Northern Russians, who belong to the Baltic Sea gene pool in Northern Europe.
The Russian word for Russian comes from the Rus' and Rus' territories. Russians share many historical and cultural features with other Europeans, especially other East Slavic ethnic groups, especially Belarusians and Ukrainians.
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What form of scrambled merchandising, popular in Europe, features large stores that provide variety, quality, and low price for groceries and general merchandise
Hypermarket is form of scrambled merchandising, popular in Europe, features large stores that provide variety, quality, and low price for groceries and general merchandise.
What does the term "hypermarket" mean?a very large retailer that stocks both items typically found in department stores and supermarkets.
What is an example of a hypermarket?Shoppers can find everything they need in a hypermarket. The purpose of this big box retailer is to offer customers all the products they need under one roof. The Walmart Super center, Fred Meyer, Meijer, and Super Kmart are a few of the best-known hypermarkets.
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