According to the given statement the greater the difference between value creation and cost: the greater the firm's economic contribution. the more likely it will gain competitive advantage is true.
Definitions and examples of economythe method or system used to create, market, and purchase commodities and services in a nation or area. The conflict had an impact on the economy. The economy of the city will benefit from more tourism. Our economy is currently either strong or weak.
How is the economy run?Therefore, an economy develops a network of marketplaces made up of sellers and buyers. These economic markets distribute limited resources among its participants.
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which country has the greatest number of banks among the list of top 10 global banks by size? multiple choice question.
China is the nation with the most banks among the top 10 largest banks in the world, and China Banking Corporation (China Bank), the largest private bank in the Philippines, has a history and experience in banking spanning more than a century.
Dee C. Chuan, a notable businessman and philanthropist, Don Albinosiship, a former dean of the Bank of the Philippines, and ten other well-known business people created China Bank. On August 16, 1920, he launched a bank on Rosario Street (now Quintin Paredes Street in Binondo, Manila).
Utilizing a contemporary Chinese organizational structure, being well-knowledgeable about the commercial practices of Chinese merchants, and operating under the guiding principles of trustworthiness and dependability.
China Bank has succeeded and grown consistently. When it was reopened on July 23, 1945, it significantly contributed to the post-World War II rebuilding and economic recovery by giving a lot of credit to businesses and entrepreneurs in significant industries.
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The complete question is:
Which country has the greatest number of banks among the list of top 10 global banks by size?
1. China
2. United States
3. United Kingdom
4. Japan
Which is the largest component of GDP?
a. consumption
b. investment
c. government purchases
d. exports
The answer is (A), GDP's largest component is consumption. Approximately 70–75 % of the total gross domestic product in any economy comes from consumption.
what is consumption?Institutional entities use up products or services through the activity of consuming, which can be either final or intermediate. It is the utilization of products and services to fulfill personal or societal needs and desires.
What effect does consuming have?Consumption results in the direct production of environmental factors from the use of goods and services, such as driving a car or using fossil fuels to heat a home.
The precise set of customers who are the target of a business's ads is referred to as the target consumer.
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communist countries worked on the premise that government officials were in the best position to allocate the economy’s scarce resources. True/False ?
It is true that communist countries worked on the premise that government officials were in the best position to allocate the economy's scarce resources
What is economy's scarce resources?When there is a disconnect between the demand for a specific resource and its restricted supply, economic scarcity, also known as paucity, takes place. There will always be some degree of scarcity despite the fact that, in theory, human demands are limitless and there is a finite supply of material resources. When a natural resource is under scarcity, the stock of that resource is declining because there is a greater demand for it than there is room to meet that need. As prices rise and the resource becomes less cheap for those who are least well-off, this can result in unsustainable growth and a rise in inequality.Water, biodiversity and air, rare earth and metals, agriculture, waste management, processing power, youth, health and wellbeing, skills and education, and time are the resources that the research predicts will be most in short supply in the future.To learn more about economy's scarce resources refer to:
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if real property is removed from service early, how do we account for that in our depreciation calculations?
If a real property is removed from service early, the depreciation should be calculated using the remaining useful life of the property. Generally, the depreciation will be accelerated to recognize the early removal from service.
When a property is removed from service early, the depreciation calculation must be adjusted to reflect the actual period of service. Instead of calculating the depreciation for the entire life of the asset, the depreciation should be calculated for the period the asset was in service. This is known as accelerated depreciation.
The most common method of accelerated depreciation is the sum-of-the-years-digits (SYD) method. Under the SYD method, the depreciation expense is calculated by multiplying the asset's cost basis by a fraction. The numerator is the remaining life of the asset, while the denominator is the asset's class life.
For example, if a property is expected to be in service for 5 years, but is removed from service after 3 years, the depreciation expense under the SYD method would be calculated as follows:
Depreciation Expense = Asset Cost Basis x (5 - 3) / 5
In this example, the numerator is 2 (5 - 3), since the asset was only in service for two years. The denominator is 5, since the asset's class life was 5 years.
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the management function of planning is blank . multiple choice question. motivating and inspiring high performance by employees monitoring performance and making needed changes assembling and coordinating the human, financial, physical, information, and other resources needed to achieve goals systematically making decisions about the goals and activities that an individual, a group, a work unit, or the organization will pursue
The management task of planning include deciding on a course of action for achieving goals and creating objectives.
What is meant by management function?Planning, organising, staffing, leading, and managing are the five general management tasks. The fundamental components of management as a discipline are these five main tasks.The five duties listed above are part of a larger framework of principles and management-related convictions.The four management functions include, for instance, scheduling checkpoints into a project schedule to assist your team in meeting the final deadline, giving team members tasks that match their skill sets, setting an excellent example by taking on tasks yourself, and adjusting the workload as necessary. The five general management functions include planning, organizing, staffing, leading, and controlling. These five general functions make up the core of management as a discipline.To learn more about management function, refer to:
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how much did the printer that came with the first univac system cost?
The UNIVAC I was originally priced at US$159,000 but later increased in price to between $1,250,000 and $1,500,000. In the end, 46 systems were built and delivered.
Was UNIVAC a success?
It weighed 16,000 pounds, contained 5,000 vacuum tubes, and was capable of performing 1,000 calculations per second. On November 4, 1952, the UNIVAC gained national attention when it correctly predicted Dwight D. Eisenhower's death. The UNIVAC I was the first American computer designed from the beginning for business and administrative use, with fast execution of relatively simple arithmetic and data transport operations, rather than the complex numerical calculations required of scientific computers. As such, the UNIVAC competed directly with punch-card machines, despite the fact that the UNIVAC could neither read nor punch cards at first. This limitation hampered sales to businesses concerned about the high cost of manually converting large amounts of existing data stored on cards. This was remedied by the addition of offline card processing equipment, such as the UNIVAC Tape to Card converter, which transferred data between cards and UNIVAC magnetic tapes. However, the UNIVAC I's early market share was lower than the Remington Rand Company had hoped. [Citation required]
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if output grows by 42.6% over 4 years, what is the annualized (or annual) growth rate? write the answer in percent terms with up to two decimals
The annualized growth rate is 10.65%.The annualized growth rate is a way to measure the average rate of growth over a specific period of time, usually in terms of years.
It helps to compare the growth rate of different investments or financial products. To calculate the annualized growth rate, you first need to determine the total growth of an investment or product over a specific period of time, and then divide that number by the number of years.
Finally, you multiply the result by 100 to express it as a percentage. In this case, the output grew by 42.6% over 4 years, so to find the annualized growth rate, we divided 42.6 by 4, which equals 10.65%.
Therefore, the annualized growth rate is 10.65%.
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in the appraisal process, the capitalization rate is used by an appraiser to determine which type of value?
Present value of an income-producing property.
What kind of value?The present worth of an income-generating property. The capitalization formula calculates the present value of an income-producing property using current net operating income (NOI). The income approach is a real estate valuation method that estimates fair value based on the revenue generated by the property. It is determined by dividing net operating income by capitalization rate.
The income approach encompasses any means of transforming a revenue stream into a market value indication. The income technique is also known as the capitalization approach since capitalization is the act of transforming predicted income into a market value indication.
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which of the following statements are true about the assets of a firm? multiple select question. accounts receivable are not assets because the cash has not yet been received by a firm. assets must be tangible to be recorded on the balance sheet of a firm. assets represent the amount of resources controlled by the firm. assets result from past transactions or events of the firm. assets are probable future economic benefits to the firm. the economic benefits associated with assets must be obtained or controlled by the firm.
The following statements are true about the assets of a firm
- the economic benefits associated with assets must be obtained or controlled by the firm- assets are probable future economic benefits to the firm- assets represent the amount of resources controlled by the firm- assets result from past transactions or events of the firmWhat is an asset?A company's balance sheet contains a list of its assets. They are divided into four categories: present, fixed, financial, and tangible.
They are acquired or produced in an effort to raise a company's value or improve its operations.
Assets that a company plans to use to generate revenue and believes will be useful for more than a year are capital assets, which are tangible and frequently illiquid assets.
An asset is a thing from which the economic owner has benefited in the past and is still benefiting in the present, or from which the economic owner can benefit in the future accounting periods by holding or using the thing over time.
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d owes c a debt the amount of which is subject to a good faith dispute. the parties agree to settle the debt, with d promising to pay c $15,000 and c promising to release d on the $25,000 debt. the settlement agreement:
B owes C money, the amount of which is being disputed in good faith. The debt is settled, with D offering to pay C $15,000 and C committing to free D from the $25,000 obligation. Even though there is no consideration, the settlement agreement is legally enforceable under UCC section 2-209.
What exactly does UCC stand for?The Uniform Commercial Code (UCC), first published in 1952, is one of several Uniform Acts that have become law with the goal of harmonizing the laws of sales and other commercial transactions across the United States through UCC adoption by all 50 states, the District of Columbia, and the Territories of the United States. While mainly successful in meeting this ambitious aim, certain US jurisdictions have not embraced all of the UCC's articles, while others have not adopted any of the UCC's articles.
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did you take a tax free distributions from a 529 plan for payments toward a qualified education loan?
Yes, you can take a tax-free distribution from a 529 plan for qualified education loan payments. This is permitted under Section 529 of the Internal Revenue Code.
A qualified education loan is defined as any loan that has been made to pay for qualified education expenses. This includes tuition, fees, books, supplies, and equipment needed to enroll in or attend an eligible educational institution. The loan must be in the name of the student or parent, or in the name of both the student and the parent. In addition, the loan must be used to pay qualified education expenses that were incurred in the same tax year as the loan was taken out. A 529 plan distribution must be used to pay off the loan within 60 days of the distribution date. If the funds are not used within this period, the withdrawal will be taxed as a nonqualified distribution.
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henry has established a revocable living trust, which he has only partially funded. which of the following statements regarding this trust is correct? any assets that have been transferred to the trust before henry's death will be subject to probate. any income from the trust assets is taxable to the trust at trust income tax rates. any assets that are not transferred to the trust before henry's death will be subject to probate. a) ii only b) iii only c) i only d) ii and iii
A revocable trust ensures the continued management and preservation of your assets in the event that you die or become incapacitated, and it allows you to avoid a probate court proceeding after your death.
What is revocable trust?A revocable trust is a will substitute in that the title to the assets in the trust is transferred during the donor's lifetime even though the benefits of the assets are not enjoyed by the beneficiary until after the donor's death.A revocable trust ensures the continued management and preservation of your assets in the event that you die or become incapacitated, and it allows you to avoid a probate court proceeding after your death.Transferring assets to a revocable trust will not save you income or estate taxes. There is no asset protection. Although assets held in an irrevocable trust are generally beyond the reach of creditors, the same cannot be said for assets held in a revocable trust.To learn more about revocable trust refer to :
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Henry has established a revocable living trust, which he has only partially funded. Any assets that have been transferred to the trust before henry's death will be subject to probate. Hence, option (c) is correct.
Give a brief account on revocable trust.According to the preferences of the grantor or the person who created the trust, a revocable trust is one in which provisions may be changed or revoked. Income earned during the term of the trust is paid to the grantor, and property transfers to the trust's beneficiaries only after the grantor dies. Since it gives the living grantor flexibility and income, a revocable trust is beneficial (also called the trustor). When the trustor passes away, the estate will be distributed to the beneficiaries according to the trust's terms, which are subject to change. A revocable trust is a component of estate planning that controls the grantor's assets as the grantor aged. The property held by the trust is subject to estate taxes, and the grantor has the right to change or revoke it as they see fit. To manage the assets or property contained in the trust, a trustee may be appointed in accordance with the terms of the trust. The trustee is also responsible for allocating the resources to the beneficiaries. After the grantor's passing, the trust is still private but becomes irrevocable.
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name and describe the six basic emergency management audiences and explain whether they would be internal or external customers.
The following are the six primary emergency management audiences:
Disaster Victims:General Public:Business Community: Media:Community Officials:First Responders:What do they mean by media?The media are the communication channels or technologies that are used to store and transmit information or data. Print media, publishing, news media, photography, film, broadcasting, digital media, and advertising are all examples of mass media communications business components. Marshall McLuhan, a Canadian communications theorist, originally introduced the term media in its current sense pertaining to communication channels, as described in Counterblast. The term medium is described as "one of the broad communication, information, or entertainment outlets in society, such as newspapers, radio, or television."
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why did physicians remain independent of corporate settings even after the medical profession became well recognized
Physicians often remain independent of the corporate environment because of the autonomy and freedom it affords them. Without an enterprise system, doctors are able to make decisions about their own practices without having to follow the protocols and regulations of a larger organization.
Independent practice gives doctors the freedom to decide how to practice medicine and the ability to practice as one sees fit. In addition, some physicians may feel that corporate systems may limit their ability to provide quality care because the corporate structure may not allow for the same level of care that many independent physicians strive to provide.
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When an entry is recorded in the general journal?
The formal record of a financial transaction is a general journal entry. The transactions are listed in the order that they happened, chronologically.
When is a new entry made in the main journal?The asset accounts are listed first when transactions are entered in a general journal, followed by the liability and owner's equity accounts. The initial account title is indented around half an inch from the left margin of the description column when a transaction is entered in a general diary.
What is written in an all-purpose journal quizlet?A general diary where all transactions could be recorded. a document used as the basis for a purchase or sale that includes details such the amount, price, date, and terms of payment. a list of business transactions organized by date.
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(e) a farmer wanting to decrease the ecological footprint of the operation decides to shift from growing soybeans with traditional tillage to no-till methods. explain how this change in business practice will affect the ecological footprint of the farm.
Polyculture crops will work together to balance the soil's nutrients. Some crops add nitrogen to the soil while others remove nitrogen from the soil. This means the farmer won't need to use as much fertiliser on the land, lowering the environmental impact.
Polyculture is a farming system that involves growing multiple crops in the same field, rather than a single crop. This method of farming can have a number of benefits, including:
BiodiversityIncreased yieldsReduced inputsResilienceEconomic benefitsYou can learn more about Polyculture crops at
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economic action done or brought about by free choice. answer choices. a. voluntary exchange. b. profit motive. c. modified free enterprise economy. d. competition.
The correct answer is A. Voluntary exchange is an economic action done or brought about by free choice.
What is Voluntary exchange?Voluntary exchange is an economic system where two or more parties exchange goods or services for mutual benefit. It is a form of trade where both parties involved benefit from the transaction. In voluntary exchange, both parties must agree to the terms and conditions of the exchange. This type of exchange is the basis of free-market economies, as it allows individuals to maximize their welfare by trading goods and services with each other.
This is when two parties agree to exchange goods or services in order to benefit both parties.
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which of the following is true of contingency factors? a. they provide labels to describe the internal characteristics of an organization. b. they create a basis for measuring and comparing organizations. c. they describe who reports to whom and the span of control for each manager. d. they describe the organizational setting that influences and shapes the structural dimensions.
They offer names for the traits that make up an organisation internally. d. They outline who reports to whom and each manager's area of authority.
What is does organisation mean?
the World Health Organization, a group of people who collaborate in an organised manner for a common goal. The topic of the piece was international aid agencies. extra instances Functional, departmental, and matrix are three types of organisations that characterise the organisational structures utilised by the majority of businesses today. Before selecting one of them to use for their firm, owners must weigh the benefits and drawbacks of each of these forms.
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timeshare buyers have the right to rescind a transaction within what timeframe after signing the purchase contract?
Timeshare buyers have the right to rescind a transaction within 3 days after signing the purchase contract.
When a consumer signs a contract for the purchase of a timeshare, they are protected by the Federal Trade Commission's (FTC) Cooling-Off Rule. This rule gives the consumer the right to cancel the contract within 3 days of signing it, without penalty or obligation.
This 3-day period is known as the "rescission period" and it is designed to give the consumer time to review and understand the terms of the contract and to ensure they are comfortable with the purchase.
During this time, the consumer can change their mind and cancel the contract without any financial repercussions. This right to rescind is usually outlined in the purchase contract and it is important that the consumer reads and understands this section before signing the contract.
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blankenship company has $88,000 in total assets, $32,000 in total liabilities, and a $16,800 credit balance in retained earnings. what is the balance in the contributed capital accounts?
The contributed capital account has a balance of 37400 The balance sheet is a company's financial report that details the assets, liabilities, and owner's equity for a specific accounting period.
The formula for the accounting equation is used to create the balance sheet. Equity and liabilities provide funding for assets. Equity is the financing attributable to the business's owners, while liabilities represent debts owed to other entities. The profit made during a particular accounting period is referred to as retained earnings, and they are reported in the equity section. These earnings can be used to pay dividends or invest in other projects.
37,400 The sum of all assets and liabilities is $86,000, and the balance of the retained earnings credit is $15,600.
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ou invest $1,000 in a fund. you check your statement at the end of april and you have lost 13%. when the statement for may comes, you see you have gained 13% in may. what is the value of your account? round to the nearest dollar. a) $850 b) $917 c) $983 d) $1,057
The correct answer is B) $917. At the end of April, your account was worth $870 after a 13% loss. After earning 13% in May, your account value will increase to $917. This means your account value has increased from $870 to $917, an increase of $47. So your account value at the end of May is $917.
To calculate this, you need to use the formula: new value = initial value * (1 + rate of return). In this case, the initial value is $870 and the rate of return is 13%. So your new account value is $870 * (1 + 0.13) = $917. Therefore, your account value at the end of May is $917.
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In order to remain competitive in the contemporary business environment, several firms have started training their employees to stop viewing problems as strictly functional - that is, as only a marketing problem, or an accounting problem, for example. What does this trend illustrate about strategic management
This trend illustrate that the need of integrative thinking and cross-functional problem solving has been reemphasized.
What is Integrative Thinking ?Utilizing the conflict between paradigms to produce something new is the goal of integrative thinking. The next stage is to examine the models together while expressly keeping them in tension once the opposing models have been articulated individually.
Graham Douglas created the area of integrative thinking in 1986. In order to create a comprehensive continuum of strategy, tactics, action, review, and assessment, he defines integrative thinking as the process of combining intuition, reason, and imagination in a human mind.
Working cross-functionally, sometimes referred to as working with teams other than your own, will inevitably occur at some point in your career. And doing it successfully may inspire innovative ideas, enhance your ability to interact with others, and improve your workplace's culture, productivity, and happiness.
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the manufacturer of which classic american muscle car claims their new hybrid is its fastest model ever?
The manufacturer of 2018 Dodge Challenger SRT Demon American muscle car claims their new hybrid is its fastest model ever.
What American-built muscle car is the fastest?The 2018 Dodge Challenger SRT Demon, with a 0-60 time of 2.3 seconds and a top speed of 211 mph, is the fastest muscle car ever produced. With a 9.65 second quarter-mile time, it is also the fastest Dodge Challenger ever produced and among the quickest cars ever constructed. Some claim that General Motors introduced the first "intentional" muscle car in 1949 when it swapped the 303-cubic-inch (5 L) Rocket V8 from its full-sized luxury car 98 model into the significantly smaller and lighter Oldsmobile 88, even though the term wouldn't become popular for another fifteen years or so.
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select the four factors required for marketing to occur.
The four essential elements of public communication and advertising a product or service are known as the "4ps." The four Ps are product, price, place, and promotion.
What is a product defined as?Any product something which is only ever produced to a certain customer's specifications. Cyber forms may take both physical and virtual forms. Each product carries a price with it. The price that might be charged will depend on the economy and the quality.
What sort of products are typical?Common Products, including but not limited to bleaching chemicals, insecticides, and pharmaceuticals, are hazardous substances that are frequently used and in the quantities necessary for the matters of fact of the Workplaces and certain other sites of a similar character.
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Fishing versus Boat Building. Half the members of a fishing tribe catch 2 fish per day and half catch 8 fish per day. A group of 10 members could build a boat for another tribe in 1 day and receive a payment of 45 fish for the boat. A. Suppose the boat builders are drawn at random from the tribe. From the tribe's perspective, what is the expected cost of building the boat? nothing fish. (Enter your response as an integer. ) b. Now supposing that members are selected based on opportunity cost, the minimum cost that the boat could be built for is nothing fish. (Enter your response as an integer. )
The answer is 55,30 in integer form.
What are the integers' rules?Rule 1: A positive integer as well as a negative integer cannot be added together. RULE 2: A positive number is the result of two positive integers. Rule three states that the total of two integer arithmetic is positive. Rule 1: A using and a negatives integer cannot be multiplied together.
How are integers divided?Remember that you may read "divided by" in the fraction bar. So 8/2 can be understood as "8 split by 2." Division of Two Integers Rule: Split the relative values of both numbers in order to divide them with the same sign. The ratio is favourable.
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Investor presentations of ________ provide an opportunity for discussions to take place regarding the continuing corporate performance on ________ value creation story and a ________ value creation plan.
Investor presentations of long-term plans provide an opportunity for discussions to take place regarding the continuing corporate performance on a long term value creation story and a long term value creation plan.
how to create a presentation that will attract investment?
Describe your team and yourself,
Put good design first,
Describe the differentiator for your business,
Describe your sales and advertising plan in brief,
Give a high-level summary of the finances.
Which four persuasive elements are there?
Slides and content. Words said by the presenter and their body language make up the presentation's content. One of the main instruments we utilize for presentations and communication in general is our bodies. Voice, authenticity, etc.
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your client and his wife plan to purchase a new home. they want a form of property ownership that: will transfer title at death outside the probate process; will allow each spouse, while alive, to have a vested one-half interest in the property; guarantees that the surviving spouse will receive the property when the other spouse dies; and allows lifetime disposition by one spouse of their property interest without requiring the consent of the other spouse. assuming that all the forms of ownership below are available in the state where the property is located, what is the form of titling that will best achieve all of their objectives? a) tenancy by the entirety b) joint tenants with right of survivorship c) community property d) tenants in common
Both tenants in common and community property do not ensure that the property will pass to the surviving spouse upon the death of the other spouse. To dispose of property, a tenant by the entirety must get their spouse's approval.
What about community property is accurate?State community property laws apply in California. Simply put, this means that both spouses are normally assumed to own equal ownership of any property obtained during the marriage by either spouse. In places where community property exists, the majority of assets amassed during marriage—aside from gifts and inherited property—are regarded as community property and shared upon divorce, annulment, or death. One spouse alone is the owner of any separate property. Assets possessed by either spouse before the marriage or acquired following a formal separation are not considered community property. Gifts or inherited property that one spouse obtained while the couple was married is also omitted.
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a company that uses job order costing purchases $68,000 in raw materials for cash. it then uses $25,000 of raw materials as indirect materials and uses $32,800 of raw materials as direct materials.prepare journal entries to record the (a) purchase of raw materials, (b) use of indirect materials, and (c) use of direct materials.
Indirect material usage is $12,000, direct material use is 32,000, and raw material purchase is $50,000. The inventory or input commodities that a business requires to make its products are known as raw materials.
Materials or substances used in the first stages of producing or manufacturing items are known as raw materials. On commodity markets across the world, raw materials are commodities that are purchased and sold. Because raw materials are production factors, businesses trade them on the factor market. Various sorts of raw materials can be employed in a wide range of goods. The inventory or input commodities that a business requires to make its products are known as raw materials. For instance, a car manufacturer would employ steel used in the construction of automobiles as a raw material. Raw materials inventory for manufacturing enterprises need thorough budgeting and a unique structure for accounting on the balance sheet and income statement.
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what does a balance sheet reflect about a firm? multiple choice question. earnings per share over a specified time period accounting value on a specific date income over a specified time period economic value at a specific point in time
A company's accounting value as of a particular date is reflected in the balance sheet.
'What Is a Balance Sheet?'
A balance sheet is a financial statement that lists the assets, liabilities, and shareholder equity of a corporation at a certain point in time. Balance sheets serve as the foundation for calculating investor return rates and assessing a company's financial structure.
The balance sheet, or statement of financial position, is a summary of the assets and liabilities of a corporation as well as the amount of shareholder investment. To do fundamental analysis or determine financial ratios, balance sheets can be utilized alongside other significant financial accounts.
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Earnings per share over a given time period accounting value on a particular date balance sheet reflect information about a company.
In economic accounting, a stability sheet is a precis of the financial balances of an individual or employer, whether or not it be a sole proprietorship, a commercial enterprise partnership, an organization, a non-public constrained company, or a different employer which includes government or now not-for-earnings entity.
A balance sheet is defined as an accounting statement that illustrates the liabilities, assets, and capital employed by a corporation. Earnings per share over a specific time period and accounting value on a specific date balance sheet furnish messages about a firm.
The balance sheet is one of three key financial statements used to assess a company. It gives a glimpse of a company's finances (what it possesses and borrows) as of the prepared by placing.
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if the price of a good rises, then: a. existing sellers will expand but more sellers will not enter a market. b. more sellers will enter a market and existing sellers will expand. c. more sellers will enter a market but existing sellers will not expand. d. more sellers and more buyers will enter a market.
Every product is sold at the optimal price because buyers and sellers come together.
The equilibrium price of an item or service in a market is the result of negotiations between a seller and a buyer. Technology and the social context in which individuals act both influence supply and demand.
At one end of the spectrum, the market may be flooded with nearly identical sellers and customers (for example, the market for ballpoint pens). On the opposite end of the spectrum, there may be only one buyer and one seller (as would be the case if I want to barter my table for your quilt).
Economists have formulated models to explain various types of markets. The most fundamental is perfect competition, in which there are large numbers of identical suppliers and demanders of the same product, buyers and sellers can find one another at no cost, and no barriers prevent new suppliers from entering the market. In perfect competition, no one has the ability to affect prices.
Both sides take the market price as a given, and the market-clearing price is the one at which there is neither excess supply nor excess demand. Suppliers will keep producing as long as they can sell the good for a price that exceeds their cost of making one more (the marginal cost of production).
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The right way of asking the question is:
If the price of goods rises, then:
A.) more sellers will enter a market but existing sellers will not expand.
B.) more sellers and more buyers will enter a market.
C.) more sellers will enter a market and existing sellers will expand.
D.) existing sellers will expand but more sellers will not enter the market.