Chip. in an hour chip can gather 8 pounds of fruit or 4 pounds of nuts. in an hour, monk can gather 9 pounds of fruit or 3 pounds of nuts.following choices would benefit both chip and monk if trade occurred.
The voluntary exchange of products or services between various economic players is referred to as trade. Because the parties are under no duty to trade, a transaction will take place only if both parties believe it is in their best interests. Because of comparative advantage in the production of marketable commodities, trade exists between geographical regions. Bananas grown in the tropics, for example, are marketed to people in cooler parts of the world. Markets are the economic institutions established by frequent commerce amongst a variety of dealers. Trade may be defined as a recurring sequence of exchanges of items. The latter phrase is sometimes used in a broader sense to refer to the location or day of traders' meetings, however this usage will be avoided.
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compare and contrast the characteristics of monopolistically competitive, monopolistic, and perfectly competitive markets.
In a monopoly market, only one firm determines the price and level of supply of goods and services. A perfectly competitive market is made up of many firms, none of which dominate the market.
How do you compare and contrast the characteristics of monopolistically competitive, monopolistic, and perfectly competitive markets?A monopolistic and perfectly competitive market influences supply, demand, and prices in many ways. In the real world, no market is completely monopoly or completely competitive. All real markets combine elements of these two market types.Between a monopoly market and perfect competition, there is monopoly competition or imperfect competition. In monopolistic competition, there are many producers and consumers in the market and each firm has only a certain amount of market power.A monopoly market and a perfectly competitive market are two market structures that differ in several important ways with respect to market share, price controls, and barriers to entry. In a monopoly market, there is only one company that determines the price and level of supply of goods and services, and that company has complete control over the market. In contrast to a monopoly market, a perfectly competitive market consists of many firms, none of which dominate the market.To learn more about market visit:
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which of the following practices would be considered an ethical business choice that does more than the law requires?
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reconstruct the income statement using the contribution margin format. calculate the magnitude of operating leverage. use the measure of operating leverage to determine the amount of net income joel will earn if sales increase by 10 percent.
If sales grow by 10%, Joel will have a net income of $28291.
Margin of contribution Income statement
As per the data provided in the above question are as bellow,
The provided data are as follow
sales down $250,000: variable cost
Purchase price 130,000 Sales commissions $25,000
2000 shipping and handling costs
overall variable costs (157000)
margin of contribution: 93,000
Fixed costs
Cost of administrative salaries: $30,000
Cost of advertising: $20,000
Cost of depreciation: $24,000
All-in fixed costs (74000)
operational profit of $9,000
Contribution margin x net operating income Equals magnitude of operational leverage
= 93000/19000
= 4.89
Increase in net income as a percentage (10*4.89) = 48.90%
Amount of net income = current net income + (+1%) net income growth
= 19000[1+.489] = $ 28291
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FILL IN THE BLANK ___ are used to accumulate and report the effects of each different business activity separately rather than combining the various types of activities together.
There is a blank statement from the question so the correct is "accounts are used to accumulate and report the effects of each different business activity separately."
What is account report?Accounting reports are periodic financial statements that outline a company's financial situation at a certain moment in time or over a predetermined time period. The business activities and transactions are described. They are a collection of financial data derived from accounting records of a company. Financial statements that must be provided include the income statement, balance sheet, and statement of cash flows. These three statements can be used by traders as educational tools to assess a company's financial health and to quickly determine its underlying worth.
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Accounts are used to accumulate and report the effects of each different business activity separately rather than combining the various types of activities together.
In the term of business and financial economic, Business accounting generally can be defined as the systematic recording, analyzing, interpreting and presenting of financial information. Accounting is an important things in the business. Accounting has a function in the business that can be used as way a business keeps track of its operations. There are several types of account in the business, such as Real accounts, Personal accounts and also Nominal Accounts.
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drag and drop the correct analysis for the airline industry against the corresponding specific force described by porter.
Conduct a brief five forces analysis of the U.S. airline industry. For each five forces element (i.e., barriers to entry, bargaining power of buyers, bargaining power of suppliers, threat of substitutes, and firm rivalry) briefly describe 2-3 conditions that you feel influence that element the most and then indicate whether you feel the element is high, moderate, or low in the industry. Requirements: 3 pages, double spaced
The porter’s five forces and corresponding factors are buyer power (option D), supplier power (option A), threat of substitution (option E), threat of new entrant (option B) and rivalry among existing competitors (option C).
Porter's five forces framework refers to a method of analyzing the operating competition environment of a business. It identifies and analyzes five competitive forces that shape every industry. It helps determine an industry's weaknesses and strengths and is frequently used to identify an industry's structure to determine corporate strategy. The porter’s five forces are buyer power, supplier power, threat of substitution, threat of new entrant and rivalry among existing competitors.
Buyers power refers to an ability that customers have to drive prices lower or higher. In the airline industry, it is high because customers have many airlines to choose from.
Supplier power refers to an ability that suppliers have to drive up the cost of inputs. It is high because there are limited plane and engine manufacturers to choose from.
Threat of substitute refers to the ability for the product or service to be substituted by other offering not necessarily in the same category. It is high because of alternatives, such as videoconferencing and virtual meetings.
Threat of new entrants refers to the ability of new companies to enter into an industry. It is high because new airlines are continuously entering the market.
Rivalry among existing competitors refers to a measure of the extent of competition among existing firms. It is high because of the existence of websites such as Travelocity.com that force competition based solely on price.
Note: The question is incomplete. The complete question probably is: Match specific forces described by Porter against their corresponding analysis for the airline industry. Indicate whether you feel the element is high, moderate, or low in the industry. The porter’s forces are buyer power, supplier power, threat of substitution, threat of new entrant and rivalry among existing competitors. The analysis factors are: A) There are limited plane and engine manufacturers to choose from. B) New airlines are continuously entering the market C) Existence of websites such as Travelocity.com that force competition based solely on price D) Customers have many airlines to choose from E) Alternatives, such as videoconferencing and virtual meetings.
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when tidewater needed to downsize, the company helped employees who were laid off to get placed in other organizations, and immediate supervisors talked to the employees about the reasons for their dismissal. when the job applicants for specific jobs are asked to execute a sample of the job, the company is utilizing a(n) test.
Option E. outplacement. A service called outplacement aids a fired employee in finding new employment and may include job coaching, resume preparation, and job searching.
Even though neither receiving nor giving the news of a job termination or layoff is pleasant, going above and beyond a severance payout by offering outplacement services can ease the frequently difficult transition for both parties.
When necessary to control costs or if awkwardness or tension are very high, some businesses use a third party. Other times, the company that is terminating an employee offers services internally. Traditionally, outplacement services were offered at an outplacement business so that the former employee could have access to the office equipment they required to produce applications and cover letters and find new employment (such as a phone and computer).
when tidewater needed to downsize, the company helped employees who were laid off to get placed in other organizations, and immediate supervisors talked to the employees about the reasons for their dismissal. when the job applicants for specific jobs are asked to execute a sample of the job, the company is utilizing a(n) test.
A) expatriation.
B) vertical integration.
C) benchmarking.
D) outsourcing.
E) outplacement.
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Which of the following best illustrates the tragedy of the commons?
A rogue wave capsizes a ferry on Lake Michigan, killing several dozen passengers.
A nonprofit organization does a winter clothing drive, and the first people to show up to get winter clothing grab far more than they need, leaving nothing for the families that show up a few minutes later.
A drought in Africa results in many deaths from starvation.
While landing at Midway Airport in Chicago, an airplane crashes through a barrier at the end of a runway and ends up plowing through a busy intersection, killing a young child in one of the vehicles.
A 10-year-old girl from your hometown dies of cancer.
A nonprofit organization does a winter clothing drive, and the first people to show up to get winter clothing grab far more than they need, leaving nothing for the families that show up a few minutes later.
A nonprofit organization does a winter clothing drive, and the first people to show up to get winter clothing grab far more than they need, leaving nothing for the families that show up a few minutes later.
Which of the following statements most accurately sums up the tragedy of the commons? Large-scale logging operations in tropical rain forests are not concerned with sustainability but rather with financial gain. Consequently, the shared resources in the forest can run out.The quantity of users who desire to consume the common in issue, the consumptiveness of their uses, and the relative resilience of the common are the three main determinants of the rate at which resource depletion occurs.Some significant "Tragedy of the Commons" concerns are hard for external government to address. Climate change and air pollution are two examples of this.To learn more about tragedy of the commons refer to:
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suppose a fixed basket of consumer goods that costs $90 in the united states costs cny 105 in china. under a constant cost of the basket in each country, compute the real exchange rates produced by the two nominal exchange rates given in the following table.
The real exchange rates that would result from the two nominal exchange rates should be 6 and 9 respectively.
The real exchange rate is defined as the price of foreign goods in relation to the price of domestic goods. The nominal exchange rate is defined as the measure of value of domestic currencies relative to the value of foreign currencies. The real exchange rate is given by:
Real exchange rate = Nominal exchange rate * Cost of basket in US(dollar)/Cost of basket in China(Yuan)
In the given table, in the first entry,
Nominal exchange or yuan per dollar = 7
Cost of basket in US (Dollar) = 90
Cost of basket in China (Yuan) = 105
Hence,
Real exchange rate = (7*90)/105 = 6
In the second entry,
Nominal exchange or yuan per dollar = 10.50
Cost of basket in US (Dollar) = 90
Cost of basket in China (Yuan) = 105
Hence,
Real exchange rate = (10.50*90)/105 = 9
Note: The question is incomplete. The complete question probably is: Consider a basket of consumer goods that costs $90 in the United States. The same basket of goods costs CNY 105 in China. Holding constant the cost of the basket in each country, compute the real exchange rates that would result from the two nominal exchange rates in the following table.
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Assume that the economy is in equilibrium. If aggregate demand increases, nominal interest rates and bond prices will most likely change in which of the following ways? of the foilowing ways?ge Nominal Interest Rates Bond Prices Increase Decrease Not change Increase Decrease (A) Increase (B) Increase (C) Increase (D) Decrease (E) Decrease
If aggregate demand rises and the economy is in equilibrium, nominal interest rates and bond prices will probably vary in the following ways: Bond prices decline when nominal interest rates rise.
What transpires when bond prices are greater than the price equilibrium?When the price of any commodity or service is higher than its equilibrium, there are more supplies than there are demands. This indicates a surplus of something. Because sellers will fight to sell their commodities to a finite number of customers, the price will be pushed downward until it reaches equilibrium. The equilibrium bond price will increase if the supply and demand curves for bonds shift to the right and left, respectively, but the volume of bonds exchanged may change based on the relative magnitude of these shifts. Most bonds have a fixed interest rate that increases in attractiveness when interest rates decline, increasing demand and bond price.
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Managers engage in activities that help the organization achieve its goals. These activities can be grouped under four principal management functions: planning, organizing, leading, and controlling. This activity is important because each management function requires different skills and presents distinct challenges for managers.
The goal of this activity is to challenge your knowledge of the four principal functions of management.
Read each example and select the management function that it best represents.
1. Sariyah sets challenging sales targets for her team.
(Click to select) Planning Organizing Leading Controlling
2. Lindsay determined the best structure and reporting hierarchy for her firm based upon the company's strategic goals.
(Click to select) Planning Organizing Leading Controlling
3. Atticus spends a sizable portion of his day helping to resolve disagreements between employees in his organization.
(Click to select) Planning Organizing Leading Controlling
4. Kellen is analyzing organizational data to determine why the firm is experiencing abnormally high employee turnover.
(Click to select) Planning Organizing Leading Controlling
The broad and general management principles serve as a framework for managerial behavior and decision-making (i.e. they guide the practice of management).
It is possible to extrapolate the definition of management principles from those of pure science. Management principles are not as firmly rooted as those of pure science. They should be used imaginatively given the demands of the function and the fact that they deal with human traits. The way people behave, how technology develops, and how businesses operate are never static. Thus, all of the principles must adjust to these modifications.
Below is answer to the challenge given in the question.
1. Sariyah assigns her staff difficult sales goals.
Planning
2. Lindsay used the company's strategic goals to identify the optimal organizational structure and reporting hierarchy for her business.
Organizing
3. Atticus devotes a significant portion of his day to mediating conflicts among his company's employees.
Leading
4. Kellen is investigating organizational data to learn why the company has an unusually high employee turnover rate.
Controlling
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according to walt w. rostow's modernization theory, the second stage of economic development is the , which is a period of economic growth accompanied by a growing belief in individualism, competition, and achievement. group of answer choices take-off stage high mass consumption stage technological maturity stage traditional stage
Traditional Society: Traditional stage is defined by a population that lacks a scientific view on the world and technology, an agricultural economy that is dependent on intensive labor and little trade, and a subsistence-based economy.
American economist and government official W.W. Rostow was a significant figure in twentieth-century development studies. Before Rostow, strategies for development were founded on the presumption that "modernization" was a trait of the Western world (at the time, wealthier, more powerful countries), which were able to go past the earliest stages of underdevelopment. In order to achieve a "modern" condition of capitalism and a liberal democracy, other nations need take inspiration from the West. In 1960, Rostow refined these concepts into his seminal work, Stages of Economic Growth, which outlined five stages that all nations must go through in order to develop: Traditional society, take-off conditions, take-off, drive to maturity, and high mass consumption age are the first three.The model claimed that all nations lie somewhere along this linear spectrum and go upward through each stage of development:
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Scheduler works 40 hours per week. Paychecks are for 2 weeks so 40x2= (Hint: This is NOT a dollar amount)
Answer:
80 Hours
Explanation:
If the scheduler works 40 hours per week, and paychecks are for 2 weeks, then the total number of hours worked in 2 weeks would be 40 hours per week x 2 weeks = 80 hours.
a colleague brings in data that is a hand written account of what the user was doing as she was completing a given task in the grocery store
A colleague brings in data that is a hand written account of what the user was doing as she was completing a given task in the grocery store because her data is best described as qualitative.
What is user interface design?User interface (UI) design is the process through which designers create interfaces in software or electronic devices with an emphasis on aesthetics or style. Designers strive to design interfaces that are both easy to use and enjoyable for users.
What are the types of UI design?There are three types of user interfaces: graphical user interfaces (GUIs), command line interfaces (CLIs), and menu-driven user interfaces.
What is UI design examples?The process of developing and implementing menus and tools that allow users to traverse a digital product is known as user interface (UI) design. This includes websites, smartphone applications, railway ticket machines, televisions, coffee machines, and a variety of other devices.
What is difference between GUI and UI?GUI stands for "graphical user interface," while UI stands for "user interface." A subset of UI is GUI. Non-graphical interfaces, such as screen readers or command line interfaces, are examples of UI.
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when accountants input journal entries or calculate the cost of a product input, the accountants' role in an accounting information system is that of a .
when accountants input journal entries or calculate the cost of a product input, the accountants' role in an accounting information system is that of a User.
The date, the quantity to be credited and debited, a short description of the transaction, and the accounts involved are all included in each journal entry along with other information pertinent to a single business transaction.
Depending on the business, it could include a list of the impacted subsidiaries, tax information, and other details. A journal is a book where all of a business's transactions are initially documented. Journalising is the process of entering transactions into a journal.
Each transaction has two effects on the accounts: one debit and one credit. General journal entries are not processed electronically as invoices or other cash receipts are processed; rather, they are entered manually into the general ledger.
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The job of an accountant in an accounting information system is that of a User when they enter journal entries or determine the cost of a product input.
Each journal entry contains information specific to a particular business transaction, including the date, the amount to be credited and debited, a brief description of the transaction, and the accounts involved.
It could contain a list of the affected subsidiaries, tax data, and other information, depending on the firm. All of a business's transactions are originally recorded in a journal. The act of journalistic involves recording transactions in a journal.
Each payment has a debit and a credit on the accounts, respectively. Unlike invoices or other cash transactions, general journal entries are manually entered into the general journal rather than being processed automatically.
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on december 30, 2004, solomon co. had a current ratio greater than 1:1 and a quick ratio less than 1:1. on december 31, 2004, all cash was used to reduce accounts payable. How did these cash payments affect the ratios?Your Answer:a. Decreased current ratio and increased quick ratio.b. Decreased current ratio and decreased quick ratio.c. Increased current ratio and decreased quick ratio.d. Increased current ratio and increased quick ratio.
The correct option is B, Decreased current ratio and increased quick ratio.The current and quick ratios are financial measures that assess company's liquidity and capacity to satisfy short-term obligations.
Solomon Co. had a current ratio larger than 1:1 and a quick ratio less than 1:1 on December 30, 2004.Indicating that it has enough current assets to pay its current liabilities but not enough liquid assets to do so.
On December 31, 2004, if all cash was utilised to reduce accounts payable, current assets and the current ratio would be reduced, but current liabilities and the quick ratio would be replaced. As a result, the cash payments would lower both the current and quick ratios.
However, it is important to remember that reducing accounts payable may be beneficial to a company's financial health since it improves the company's cash position and reduces the risk of debt default. Furthermore, it can help the firm meet its current obligations while also enhancing its trust with suppliers and lenders
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