The contribution margin per unit is $7.4.
What is the contribution margin?The contribution margin is the percentage of a product's sales revenue that isn't consumed by variable costs and goes toward paying the firm's fixed expenses.
One of the main components of break-even analysis is the idea of contribution margin.
Labor-intensive businesses with limited fixed expenses typically have low contribution margins, whereas capital-intensive, industrial corporations typically have high contribution margins.
Contribution margin per unit = Revenue per Unit ₋ Variable Expenses per Unit.
Contribution margin per unit = $23.55 ₋ $16.15
Contribution margin per unit = $7.4
Therefore, the contribution margin per unit is $7.4.
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Japan and other market-based economies enjoy economic growth, but also face greater risks due to:.
Japan and other market-based economies enjoy economic growth, but also face greater risks due to deregulation.
As we can see some other countries which face slowing down in 2008. They also made some deregulation in the economy. Japan is a developed economy and has greater potential.
An example of deregulation would be if the authorities removed this regulation. So human beings are loose to put on or not put on the seatbelt without the chance of punishment. This additionally extends into the commercial enterprise international. For instance, the removal of the minimum wage might be an example of deregulation.
Deregulation is the elimination or reduction of government regulations in a specific enterprise. The goals are to permit industries to function as agencies more freely, make decisions efficaciously, and remove corporate restrictions.
Some argue that deregulation promotes economic increase by making it less complicated for agencies to do enterprise, growing loose-market opposition, and decreasing costs. Others point out that an excessive amount of deregulation can damage clients and their surroundings. Rules for agencies exist at each degree of the presidency.
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Coca-Cola implemented enterprise software from Oracle that enabled it to achieve all of the following except: standardizing business processes worldwide. reacting faster to market changes. improving its bargaining power with suppliers. reducing the number of employees. reducing the cost of raw materials.
Coca-Cola implemented enterprise software from Oracle that enabled it to achieve all of the following except reducing the number of employees. Thus the correct answer is D.
What is Oracle?Oracle is a type of software developed as the most flexible and economical method of managing data and applications. Oracle Database created for corporate distributed systems.
The software used in coca-cola enables the organization to improve the business process with the help of standardization. It enables them to respond to market changes that took place immediately and make implementation based on current trends.
It helps them to reduce the cost of raw materials by properly bargaining with the suppliers and bringing material in an economic manner.
Therefore, option D reducing the number of employees is the appropriate option that is excluded by the software.
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You are planning to save for retirement over the next 30 years. To do this, you will invest $850 per month in a stock account and $250 per month in a bond account. The return of the stock account is expected to be 11 percent, and the bond account will return 6 percent. When you retire, you will combine your money into an account with a return of 5 percent. How much can you withdraw each month from your account assuming a 25-year withdrawal period
An amount of $13,287.70 can be withdrawn each month from your account assuming a 25-year withdrawal period.
What does withdrawal period mean?The withdrawal period is the minimum amount of time between the administration of the final dose of medication and the manufacture of meat or other food items produced from animals.What is a withdrawal period and why is it important?Withdrawal times take into account how long it takes an animal to digest a substance that has been given to it as well as how long it takes for the substance's concentration in its tissues to drop to a safe, acceptable level.According to the question:
To calculate the total amount saved for 30 years after retirement, we us the formula for calculating the future value of ordinary annuity for both stock and bond as follows:
Future Value of Stock.
FVs = M × {[(1 + r)^n - 1] ÷ r} ................................. (1)
Where,
FVs = Future value of the amount invested in stock after 30 years =?
M = Monthly investment = $850
r = Monthly interest rate = 10% ÷ 12 = 0.8333%, 0.008333
n = number of months = 30 years × 12 months = 360
Substituting the values into equation (1), we have:
FVs = $850 × {[(1 + 0.008333)^360 - 1] ÷ 0.008333} = $1,921,414.74
Future Value of Bond
FVb = M × {[(1 + r)^n - 1] ÷ r} ................................. (2)
Where,
FVb = Future value of the amount invested in bond after 30 years =?
M = Monthly investment = $350
r = Monthly interest rate = 6% ÷ 12 = 0.50%, 0.0050
n = number of months = 30 years × 12 months = 360
Substituting the values into equation (2), we have:
FVb = $350 × {[(1 + 0.0050)^360 - 1] ÷ 0.0050} = $351,580.26
Amount that can be withdrawn monthly for 25-year withdrawal period
To calculate this, we use the formula for calculating the present value of an ordinary annuity as follows:
PV = P × [{1 - [1 ÷ (1+r)]^n} ÷ r] …………………………………. (3)
Where;
PV = Combined present values of stock and bond investments after retirement = FVs + FVb = $1,921,414.74 + $351,580.26 = $2,272,995.00
P = Monthly withdrawal = ?
r = Monthly interest rate = 5% ÷ 12 = 0.4167%, or 0.004167
n = number of months = 25 years * 12 months = 300
Substitute the values into equation (3) to have:
$2,272,995.00 = P × [{1 - [1 ÷ (1 + 0.0047)]^300} ÷ 0.0047]
$2,272,995.00 = P × 171.060047040905
P = $2,272,995.00 / 171.060047040905
P = $13,287.70
Therefore, $13,287.70 can be withdrawn each month from your account assuming a 25-year withdrawal period.
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The profile of an entrepreneur typically includes all of the following EXCEPT a(n) Select one: a. focus on concrete results. b. willingness to take risks. c. appreciation for the status quo. d. desire to assume responsibility. e. need for achievement.
The profile of an entrepreneur typically includes all of the following EXCEPT a(n): c. an appreciation for the status.
Who is an entrepreneur?An entrepreneur can be defined as someone who engages in trading or business.
The profile of an entrepreneur typically includes all of the following:
Focus on concrete results.Willingness to take risks.Desire to assume responsibility.Need for achievement.Therefore the correct option is c.
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The auditors' responsibility to communicate findings with respect to fraud can best be summarized as:
The auditors' responsibility to communicate findings with respect to fraud can best be summarized as: Communicate to the audit committee both material and immaterial amounts of fraud that are detected. This is further explained below.
What is auditors?Generally, An auditor is a person qualified to examine financial documents, confirm their correctness, and make sure businesses are following tax regulations.
In conclusion, the Auditors' duty to report fraud-related discoveries is summed up as follows. Any identified fraud, no matter how little, should be reported to the audit committee.
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Why should you be cautious about purchasing exercise equipment from consignment stores or yard sales
It normally doesn't have a warranty and can't be returned.
What does the phrase "purchase on consignment" mean?A reseller (consignee) and their supplier (consignor) enter into a consignment agreement that enables the reseller to pay for the products after the products have been sold.
What benefits does consignment offer?For increased exposure to the buying market, it enables a seller (maker) to place products at wholesale and retail stores. Since their capital is not tied to inventory, it may serve as an incentive for wholesalers and retailers to keep items on hand.
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Financial reports are used by a.management b.creditors c.investors d.All of these choices are correct.
Financial reports are used by management, creditors, and investors. Thus the correct option is D.
What is the objective of financial reports?The financial report is the statement or description of the income and expenses that took place in the organization. This report is prepared to analyze the financial position of any organization.
This helps to understand whether the organization is achieving profitability or not. These help investors to know about the current position of the organization in the market.
It helps management to estimate the turnover along with profitability to determine the assets and liabilities records in the financial year.
It helps creditors to assess the company's creditworthiness and ability to make payments on its debt in a timely manner.
Therefore, in option D all of the above, creditors, investors, and management used financial reports.
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When you purchase an item from Globus Corp., they place the item in a paper bag with handles and vertical yellow, blue, and white stripes. Even without seeing the words "Globus Corp." on the bag, many people recognize that the purchase is from Globus. The bag's coloring and design is considered its ________. Group of answer choices trademark collective mark certification mark service mark trade dress
The bag's coloring and design are considered its trade dress.
What is a trade dress?The commercial look and feel of a product or service that identifies and distinguishes the source of the product or service are referred to as trade dress. It encompasses the different aspects (such as material design and shape) used to package a product or service.What is a certification mark?A certification mark is a sort of trademark that is used to show consumers that specific goods and/or services, or the providers of those goods and/or services, have satisfied certain requirements.What is a service mark?A "service mark" is a form of trademark that is protected and governed by the Lanham Act. Service marks are used to identify and distinguish one individual's or organization's services, even if they are unique, from those supplied by others.What is a collective mark?A collective trademark, collective trademark, or collective mark is a trademark owned by an organization that is used by its members to identify themselves with a certain degree of quality or accuracy, geographical origin, or other features specified by the organization.Therefore, the bag's coloring and design are considered its trade dress.
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Assuming that Brazil can produce 100 pounds of beef or 10 autos and the United States can produce 40 pounds of beef or 30 autos, what is the opportunity cost of producing one pound of beef in Brazil
One pound of beef -1/10 of an auto.
Opportunity cost means the cost of the next best alternative. Here 100pounds of beef=10 auto
1 pound of beef =10/100autos
1 pound of beef =1/10 autos
It means if Brazil doesn't produce 1 pound of beef then he can produce 1/10 autos and this is the opportunity cost of 1 pound of beef.
The possible value is time spent analyzing and that money to spend on something else. A farmer chooses to plant wheat; the opportunity value in planting a special crop or an alternate use of the assets (land and farm system). A commuter takes the education to paintings in place of riding.
Opportunity price is an economics term that refers back to the cost of what you need to give up that allows you to pick out something else. In a nutshell, it's a value of the road no longer taken.
The definition of possible value is the capacity gain misplaced through the choice to take an extraordinary route of action whilst thinking about a couple of investments or avenues of business.
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As an entrepreneur, you need to be ethical as an individual as well as in your business behavior, since you will face both ethical decisions and ethical dilemmas while running your business. Describe either an ethical decision or dilemma you might encounter in a business that creates apps for cell phones. Explain your strategy for handling the decision or dilemma using the steps defined in the unit. Ethical situations often arise within businesses. When they do, they typically fit within one of the following categories: bribes, conflicts of interest, conflicts of loyalty, or issues of honesty and integrity. Choose one of the ethical situations categories that require appropriate action. Define the category and provide an example. What makes it a challenge?
As an entrepreneur, you need to be ethical as an individual as well as in your business behaviour. For the given two scenarios the solution could be-
Part 1: Paying fair and acceptable salaries may present an ethical quandary as the owner of a small or large firm.Part 2: Bribes are valuable gifts given to encourage someone to act unethically.Strategy for handling the decision or dilemma:The strategy for handling the decision or dilemma using the steps defined in the unit in a business that creates apps for cell phones are-
Paying fair and liveable salaries could present you with an ethical conundrum as a small- or big-business owner. Despite the fact that it could be challenging for you to pay your staff enough so they can support themselves, it is crucial to do so. To pay my staff liveable wages, I would personally go above and above. Future rewards will come from having strengthened my relationships and gained more trust from my staff.Ethical situations categories:When ethical situations often arise within businesses: the ethical situations categories that require appropriate action is "Bribes".
Bribes are valuable gifts given to influence someone to act unethically. Consider the following factors when determining whether or not something is a bribe: the cost of the item, the time of the present, the kind of gift, and the relationship between the giver and the recipient. In order to handle this circumstance, I would add a section about bribes and gifts to my corporate policy or code of conduct.To know more about the entrepreneur and entrepreneurship, here
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Capacity planning requires demand forecasts for an extended period of time. Forecast accuracy tends to _______ as the forecasting horizon _______.
Capacity planning requires demand forecasts for an extended period of time. Forecast accuracy tends to decline as the forecasting horizon lengthens.
Ability-planning refers back to the method of decoding how many useful assets you are going to need to fulfill the call. This “call for” may be for any unit of time: the upcoming week, subsequent season, or maybe in a yr's time. A few subjects that fall underneath capability-making plans are the use of the body of workers to satisfy the approaching calls.
Take a bakery, for instance. Understanding what number of pies may be made and baked in a given day using current gadgets and employees (potential) permits the bakery to devise what number of pies they may promote and what they need for property (group of workers, apples, and so on.).
Get the supply and day without work for each person. For anybody, subtract break day from net artwork Hours, and multiply the result with the aid of manner of his availability to get his non-public capability. Upload up the individual capacities to get the institution's potential in character hours, and divide through 8 to get the capability in man or woman-days.
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________ refer to collaborative relationships between independent firms, though the partnering firms do not create an equity partnership; that is, they do not invest in one another.
Strategic alliances refer to collaborative relationships between independent firms, though the partnering firms do not create an equity partnership; that is, they do not invest in one another.
A strategic alliance is an association between two businesses to adopt a collectively beneficial venture whilst each keeps its independence. The settlement is less complex and much less binding than a joint challenge, in which two businesses pool assets to create a separate enterprise entity.
Strategic alliance definition: it's a joint assignment that bolsters a middle commercial enterprise approach, creates an aggressive gain, and abates competition from transferring in on a market. It permits man or woman businesses to reap extra collectively than they would have on their very own.
Strategic alliances aren't a panacea for each business enterprise and every situation. but, via strategic alliances, agencies can enhance their aggressive positioning, benefit from entry to new markets, complement crucial talents, and proportion the hazard and fee of main improvement tasks.
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Suppose the equilibrium aggregate price level and real GDP are rising. This is probably the effect of a(n) _____ in aggregate _____. decrease; demand decrease; supply increase; demand increase; supply
Suppose the equilibrium aggregate price level and the equilibrium level of real GDP are both rising. This is probably the effect of a increase in aggregate demand.
What is aggregate demand?The entire demand for these products and services during the given time period is represented by aggregate demand. Because aggregate demand and gross domestic product (GDP) are determined in the same way, they eventually balance each other out. As a result, changes in aggregate demand and GDP are correlated.
The relationship between the price level and all of the expenditure that individuals, businesses, the government, and other nations are willing to make at each price level is represented graphically by aggregate demand. That should sound familiar if it does. The elements that make up aggregate demand are the same elements that make up real GDP when utilizing the expenditures method:
ConsumptionInvestmentsFederal spendingGross exportsHence, when both the equilibrium level of real GDP and the equilibrium level of aggregate prices are increasing. This is most likely the result of rising aggregate demand.
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At a price of $20, there would be a(n) shortage. The law of supply and demand predicts that the price will fall from $20 to a lower price. surplus. The law of supply and demand predicts that the price will rise from $20 to a higher price. excess demand. The law of supply and demand predicts that the price will rise from $20 to a higher price. excess supply. The law of supply and demand predicts that the price will fall from $20 to a lower price.
In a long run equilibrium, The average total cost will be the same as it was before the price increase.
What is Long Run Equilibrium?A company reaches equilibrium over the long term when it modifies one or more of its plants to create output at the least point on their long-run Average Cost (AC) curve.The demand curve determined by market pricing and this curve are tangential. In the long run, a company simply makes standard profits. The industry will draw new firms into it if a firm has above-average short-term earnings.As the industry grows, this eventually results in a decrease in the prices of the commodities and an increase in the prices of the factors.Until the AC curve is perpendicular to the demand curve, these modifications persist.On the other hand, if businesses experience short-term losses, they will eventually exit the sector.As a result, as the industry shrinks, prices rise and costs decline. Until the remaining businesses in the sector are able to cover their overall costs and regular earnings, these adjustments will continue.The conditions below are necessary for the long run equilibrium of firm:The output is created for the least amount of money.The marginal cost is barely covered by the selling price.Plants are ultimately utilized to their utmost potential. Resources are not squandered as a result.Businesses only make typical earnings.While profits are typical, businesses strive to increase them.Know more about Long Run Equilibrium brainly.com/question/13869483
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It Takes a Village!
Required Materials
Word processing software
Have you ever heard of an all-inclusive vacation? There are some resorts that offer everything—hotel, food, entertainment, and tours. What about the huge floating resorts that many have found appealing—cruises? To make these operations run smoothly and allow guests to have the best getaway experience they can, many different jobs are required. Most of these jobs can be found in the career clusters we learned about in our unit.
In this activity, you will pick one type of all-inclusive vacation. Research an example of the vacation destination you have in mind and list the amenities that are offered. See if you can identify at least two careers from the Arts, AV Technology & Communication Cluster and two from the Hospitality & Tourism Cluster that all work together in this resort. For each one of your four careers, take a few minutes to research more about the role they play, as well as what a person would need to do to get started in this career path. Let's consult our handy reference, the Bureau of Labor Statistics' Occupational Outlook Handbook, once again to find more information. This time check out the headings “How to Become One,” “Pay,” and “Job Outlook” for each career you choose.
Once you have gathered the career information on the professionals you might find in your all-inclusive resort, it’s time to put your research to use. You will create a flyer for your resort, introducing guests to each person who will play a part in making their stay memorable. On your flyer, include a name (you can make one up) and title for each person. Explain in one paragraph under their name a little bit about what they do at the resort. Under that paragraph, include a paragraph with a quick (imaginary) biography that showcases the person’s education and career path.
Do your best to make your flyer fun and appealing so that guests will immediately feel right at home, knowing that their vacation is in the hands of some of the best professionals in the business!
Your flyer should include the following elements:
Employees who represent two careers from the Arts, AV Technology & Communication Cluster
Employees who represent two careers from the Hospitality & Tourism Center
One paragraph under each explaining the job duties of the employee
One paragraph under each with a short bio of the employee
These are the flyers about the all-inclusive vacation employees:
Lucy AdamsShe's the singer of our cruise! You will enjoy her beautiful voice every night of your holiday and have a great time listening to the best songs you can think of!
Lucy is a professional singer who sings in three different languages: English, Spanish and Italian. She's the best one out here in the sea! Don't miss her!
Tom DíazHe's the chief animator of our cruise! He's the one in charge of making you have your best vacation! You will laugh with his jokes and enjoy the day next to the pool playing games with him and the rest of the amazing team.
Tom has been working in the entertainment industry for many years now. He is a comedian so he will know how to make you laugh!
Penelope SmithShe's the best tourist guide in this cruise! She can explain to you what you do in the places where the cruise stops. You can't miss her recommendations!
Penelope has studied tourism and she knows how to make your trip the best one! She has been to all the places we will visit with the cruise so you can ask her for advice whenever you need.
John HarriesHe's the best chef you can find! You can find John in the purple restaurant where you can try the best food you have ever eaten. He specializes in pasta, so you can't miss the Italian night in the cruise!
John is a professional chef with many years of experience on board. He has lived many years in Italy where he learnt everything about the culture and flavors that he applies to his dishes.
How do you solve writing exercises?To complete writing exercises in English, you have to do a research of the topic you are going to write about first. In this case, you have to select four jobs that are available to do in all-inclusive holidays and then write flyers with specific information about the people who do these jobs.
In writing exercises, it is important to use key words and organise your information so it is easier for the reader to understand.
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The cost of goods not yet sold is recorded in the ______ account, whereas the cost of goods that are sold to customers is recorded in _____.
The answer is inventory account and Cost of goods sold account(COGS) respective to the order of the blanks.
Goods not yet sold means the stock we still have in our inventory. Therefore, the costs related to them will be shown in the inventory account as an asset. As we can recover the cost by selling the goods.
On the other hand, goods sold are included in the sales. Therefore, the costs related to these goods which are sold should be written off and adjusted with the sales account by recording them in the Cost of goods sold (COGS) account
Hence, The cost of goods not yet sold is recorded in the Inventory account, whereas the cost of goods that are sold to customers is recorded in the Cost of goods sold account.
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A perfectly competitive firm typically ________ its marginal revenue with each additional item sold, and a monopolist ________ its marginal revenue as the quantity of sales increases.
A perfectly competitive firm typically increases its marginal revenue with each additional item sold, and a monopolist decreases its marginal revenue as the quantity of sales increases.
A perfectly competitive business must accept the equilibrium price at which it sells its products because it is a price taker. A completely competitive business will not be able to generate any sales if it seeks to charge even a small amount above the going rate.
A perfect market, also known as an atomistic market, is defined by various idealizing conditions, which are together referred to as perfect competition, or atomistic competition, in economics, specifically general equilibrium theory.
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For the first time this year, an Outside Business Associate offers to take you to dinner to discuss business. Can you:
You can B. Say no because informal gatherings are strictly prohibited.
What are informal gatherings?Informal gatherings are social events held for social purposes.
Informal gatherings are not allowed for business discussions and should be rejected when offered for business purposes.
Question Completion with Answer Options:A Decline the invitation because business matters must not be discussed with Outside Business Associates.
B Say no because informal gatherings are strictly prohibited.
C Say yes because you have never attended a business meal with the Outside Business Associate.
Thus, you can B. Say no because informal gatherings are strictly prohibited.
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If quantity supplied increases 20% when price increases 10%, price elasticity of supply is.
How sensitive the supply quantity is to a shift in price is quantified by the concept of price elasticity of supply. Quantity supplied (Q.S) elasticity of supply (PES) is calculated as the ratio of price change to the percentage change in Q.S. Supposing that supply doubles while demand grows by 10%, the new price of a cappuccino will be $1.30. We define PES as 2.0.
What is Price elasticity?Generally, a method for determining how much of an impact a change in either supply or pricing has on demand.
In conclusion, If supply increases by 100% and demand rises by 10%, the cost of a cappuccino will rise to $1.30. Specifically, we say that PES 2.0 is the standard for it.
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True or False Question True or false: If individuals are not detail oriented, then a business that is procedurally complex and involves managing a wide variety of tasks may be appropriate.
This statement is False.
Substitutions are graded based on the entrepreneur's unique resources and similarities with their abilities. Alternatives meet the same basic needs that the product or service meets.
Competitive analysis is important for the following reasons: It helps identify ways to improve your own business strategy. It teaches you how to outperform your competitors in these areas to get the attention of your customers. The result is a competitive advantage over other companies in the industry.
Entrepreneurs need to respond quickly to identified business opportunities in order to maximize profits. If a potential business owner has multiple ideas about a business, he or she needs to identify one to perform a due diligence analysis.
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Intra-company standards for financial statement analysis: Group of answer choices Are set by the company's industry through published statistics. Are based on a company's prior performance and relations between its financial items. Are based on rules of thumb. Are often set by competitors. Are published by analyst services such as Standard
Intra-company standards for financial statement analysis :
Are based on a company's prior performance and relations between its financial items.
What are Intra-company Standards for Financial Statement Analysis based on?
Three commonly used standards for financial statement analysis are rule-of-thumb measures, the company's past performance, and industry norms.
Rule-of-thumb measures are weak because of the lack of evidence that they can be widely applied. The past performance of a company can offer a guideline for measuring improvement but is not helpful in judging performance relative to other companies. Although the use of industry norms overcomes this last problem, its disadvantage is that firms are not always comparable, even in the same industry.
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A business, but not an individual person, can be deemed liable for monopolizing or attempting to monopolize trade or commerce in violation of the antitrust laws. Group of answer choices False True
According to business law, the given statement is false.
Characteristics of Sherman antitrust law-
The Sherman Antitrust Act of 1890, which has been used many a time in Federal courts throughout the country, seeks to encourage free marketplace interstate exchange thereby making an attempt to restrict marketplace restraints. Section 2 of the Sherman Act addresses an individual’s position in what can now be taken into consideration as unlawful commercial enterprise activities.A try to monopolize a marketplace is one of the primary worries of Section 2 and places the obligation of such an act on the individual.hence the statement given is false.
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If a sales rep earns $12 per hour plus $15 per unit sold, how much will he have earned after 20 hours and 15 units sold?.
20 hours and 15 sold products have resulted in earnings for 465.
12 x 20 is 240
15 x 15 is 225 225 +240 = 465
The act of trading things for money is referred to as "selling products". Several important measures must be taken in order for a firm to market its products:
sold products development is the process of developing new items or acquiring existing ones to satisfy consumer and market expectations. Processes related to quality control, production, design, and research are all involved.
Marketing and promotion: Companies use a variety of marketing approaches to spread the word about and spark interest in their goods. This might involve marketing initiatives such as social media campaigns, internet marketing, public relations, and earnings
Sales Process: During the sales process, potential clients are found, approached, and given information about the features, advantages, and value proposition of the products.
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If the economy is growing, firms with high operating leverage will experience A. higher increases in profits than firms with low operating leverage. B. smaller increases in profits than firms with low operating leverage. C. no change in profits. D. similar increases in profits as firms with low operating leverage.
The correct answer is option A.
Firms with high operating leverage will experience Higher increase in profits than firms with low operating leverage.
What is financial accounting?In order to provide financial statements that both internal and external shareholders may use to judge a company's financial soundness, financial accounting focuses on documenting, evaluating, and reporting on a company's business transactions. Investors and organizational executives can evaluate a company's financial health and general performance using financial statements. This means that establishing business objectives, monitoring financial performance, and allocating resources to internal departments and professionals all depend on financial accounting and the accounts it generates. Statements adhere to the criteria and rules established by the International Financial Reporting Standards (IFRS).Learn more about Financial Accounting with the help of the given link:
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According to growth accounting studies, investing in research and education Group of answer choices is the best way to achieve greater technological progress. is less effective than on the job training. does not achieve as much growth as technology improvement would.
According to growth accounting studies, investing in research and education is the best way to achieve greater technological progress.
What is growth accounting?It corresponds to a metric to identify which are the factors that most impact economic growth, also finding the rate of technological progress of a business.
Therefore, the greater investment in research and education, the more effective growth accounting measurements will be for identifying technological progress.
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A provision stating that the insurer cannot dispute the validity of a policy after a specific period is called a(n) ______.
Incontestability clause - This tells us the insurance company may not contest the validity of the policy during the insured's lifetime for any reason, including fraud, if the policy has been in effect for a predetermined duration
What is incontestability clause?
An incontestability clause in a life insurance policy safeguards the policyholder and forbids the insurer from changing any aspect of the insurance coverage as a result of a misinterpretation or false statements made by the insured (the policyholder) after a certain amount of time. A life insurance policy's provider cannot revoke any statement after a specified period of time thanks to an incontestability provision. This provision is frequently regarded as offering policyholders the most robust defense.
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A company begins the quarter with $50 in supplies. They purchase an additional $100 of supplies. At the end of the quarter, they have $25 of supplies left. How much in supplies did the company use during the quarter
The company used $125 supplies during the quarter.
The quantity of goods or service that a company has to offer its customers at any one time is defined as supply. For a real, brick-and-mortar store, this refers to the inventory that a company has on its premises and in warehouses that it may sell to clients.
Supplies and business services are temporary commodities and services that aid in the development or management of the completed product.
The supplies used during the quarter is computed below:
Particulars Amount
Beginning supplies $50
Purchases $100
Total supplies available $150
Less: Ending supplies $25
Supplies during the quarter $125
Therefore, the supplies during the quarter is $125.
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If an employer does not sell its output in a perfectly competitive industry, it faces a ________ demand curve for output.
If an employer does not sell its output in a perfectly competitive industry, it faces a horizontal demand curve for output.
According to economic theory, perfect competition exists when all businesses sell the same goods, market share has no bearing on prices, businesses can enter or quit the market without any obstacles, consumers have perfect or complete information, and businesses are unable to set prices.
The demand and supply in the industry as a whole affect the price. Due to its limited supplier size and lack of price control, the company cannot set prices. Each additional product will be sold for the same price. Price, which is represented by fully elastic demand, is therefore equal to MR times AR (ie a horizontal curve).
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More expensive product __________________ in a retail store may cause us to ask if we want lower prices by accepting waiting lines, limited choices, and a more austere store.
Differentiations.
More expensive product differentiations in a retail store may cause us to ask if we want lower prices by accepting waiting lines, limited choices, and a more austere store.
Monopolistic competition refers to a market where many firms sell differentiated products. Differentiated products can arise from characteristics of the good or service, the location from which the firm sells the product, intangible aspects of the product, and perceptions of the product.
A monopoly is a type of imperfect competition where a seller or producer captures the majority of the market share due to the lack of substitutes or competitors. Monopolistic competition is a type of imperfect competition where many sellers try to capture the market share by differentiating their products.
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A primary reason why supply chains exist is that____________ is added at each step of every supply chain.
Specialization is added at every step of the supply chain which could the reason for the existence of a supply chain.
What is meant by supply chain?
A supply chain is a linkage between the company and its vendors for product distribution in the market for sale.
The supply chain involves many entities like production firms, vendors, distribution companies, transportation companies, etc. Every step of the supply chain needs specialized expertise for performing the operations like the production firm needs raw materials to convert the goods into saleable ones.
Therefore, the existence of a supply chain would be due to specialization which requires in every step of it.
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