Answer:
How customers rate/value her services
Explanation:
Since Henriette did not set a basic/standard fee for her services, she is bound to have non-uniform pay by different customers. This non-uniform pay is as a result of how much value or worth her customers attach to her services, as it affects them.
If she decides to get a standard prices attached to her services, she would have to consider how satisfied customers have been in the past, with her services.
Cheers.
If bread is an inferior good and if the price of bread increases, the income effect _____ the quantity demanded, and the substitution effect _____ the quantity demanded.
Answer:
increases
decreases
Explanation:
Whenever the price of a commodity that is perceived as an inferior good rises, because of its negative perception, it tends to now become a bit of a luxury good; and the income effect will tend to increase the quantity purchased (because when you have more income you can afford more expensive goods), while the substitution effect (which is the propensity of consumers switching to cheaper substitutes because of rise in price) will tend to reduce the quantity purchased.
Therefore, If bread is an inferior good and if the price of bread increases, the income effect increases the quantity demanded, and the substitution effect decreases the quantity demanded.
The income effect would increase the quantity demanded of an inferior good like bread when the price rises, while the substitution effect would decrease the quantity demanded since bread has become relatively more expensive.
Explanation:The student's question involves understanding the interplay of the income effect and substitution effect when there is a change in the price of a good, specifically an inferior good like bread. The income effect in economics refers to the change in quantity demanded due to the effect of a change in the price on a consumer's real income or purchasing power. The substitution effect refers to the change in the quantity demanded of a good due to a relative price change, which makes the good more or less expensive relative to other goods. In the context of an inferior good such as bread, if the price of bread increases:
The income effect would increase the quantity demanded.The substitution effect would decrease the quantity demanded.Regarding an inferior good, as the price of bread rises, individuals feel poorer, which means they might buy more of the inferior good (more bread in this case) because they cannot afford the more luxurious substitutes. However, the substitution effect would lead consumers to buy less bread because it has become relatively more expensive compared to other goods.
Ted dies with assets consisting only of long-term investments. He leaves $5,000,000 to his children and the remainder to his wife. His basis in the investments is $5,000,000; his date of death value is $9,500, 000, and the six-month alternate valuation value is $10,700,000. What is the income tax basis of the investments if his family sells the assets?
A. $5,000, 000
B. $9,500,000
C. $10,700,000
Answer:
B) $9,500, 000
Explanation:
The tax basis for Ted's estate is $9,500,000, ans since it falls under the current federal estate tax exemption($11,400,000), his wife and children do not have to pay any estate taxes. If Ted's family sells the assets before the six month alternate valuation is effective, then their tax basis will be the same as Ted's estate ($9,500,000).
Suppose a gardener produces both green beans and corn in her garden. If she must give up 14 bushels of corn to get 5 bushels of green beans, then her opportunity cost of 1 bushel of green beans is:__________a. 0.36 bushel of corn.b. 2.4 bushels of corn.c. 2.8 bushels of corn.d. 70 bushels of corn
Answer:
2.8 bushels of corn.
Explanation:
Opportunity cost of producing one bushel of green beans = 14 bushels of corn / 5 bushels of green beans = 2.8 bushels of corn
I hope my answer helps you
On January 1, Year 5, customers owed Eagle $40,000. On December 31, Year 5, customers owed Eagle $30,000. Eagle uses the direct write‐off method for bad debts. No bad debts were recorded in Year 5. Under the cash basis of accounting, what amount of net revenue should Eagle report for Year 5?
Answer:
$200,000
Explanation:
The computation of the net revenue is shown below:
= Cash sales gross - Returns and allowances + credit sales gross - discounts + beginning balance of account receivable - ending balance of account receivable
= $80,000 - $4,000 + $120,000 - $6,000 + $40,000 - $30,000
= $200,000
We simply first compute the net cash sales after considering the returns and allowances, and net credit sales after considering the discounts, and deduct the ending balance of account receivable
An issuer decides to call in an outstanding bond issue under the terms detailed in the bond resolution because interest rates have dropped substantially after issuance. This type of call is a(n):________.
Answer:
An optional Call
Explanation:
Callable Bond
Callable bond represents an instrument of debt where the issuer issues the instrument reserving the right to make a return of the principal of investors including the stoppage of interest payments before the date of maturity of the bond.
Organisations would usually issue bonds as callable when either to meet unexpected obligations like pay off other debts, fund expansions or when they sense that opportunities may arise in the future for them to get other forms of financing at lower interest rates.
For bonds to be callable the terms must be clearly stated in the bond's offering.
Optional Call
In optional call, the issuer reserves the right to call the bonds to take advantage of present circumstances such as significant drop in interest rates (as stated in the question). However, the terms detailed in the bond resolution will allow the bondholders to receive a premium to par as compensation for their loss of interest payments on the called bond.
Furthermore, a period of time must usually pass before the issuer can use the optional call.
A hamburger factory produces 40,000 hamburgers each week. The equipment used costs $5,000 andwill remain productive for 4 years. The labor cost per year is $9,500.Note: there are 52 weeks in a year.
Answer:
This question is incomplete. However, I found the prompt to be as follows;
"What is the productivity measure of “units of output per dollar of input” averaged over the four-year period? "
Explanation:
To solve this question, find productivity;
Productivity in this case is total hamburgers produced divided by the total labor cost plus total equipment cost.
Productivity = # of hamburgers *52 weeks * 4 years / (total labor cost + equipment cost)
Productivity= 40,000(52)(4)/ {9,500(4) + 5000}
= 193.5 hamburgers/dollar of input
Therefore, the factory would produce about 194 burgers per dollar of input.
Rayman Automobiles, an automobile manufacturing company, was founded in 1912. The company primarily focused on creating greater efficiencies by refining its processes and creating specialized jobs. This allowed the company to increase its output and lower the prices of its products. As a result, automobiles became an affordable commodity. In the context of the history of American business, Rayman Automobiles was most likely founded during the _____.
Answer:
Production Era
Explanation:
American business history is always described using five eras that was experienced; "Industrial Revolution, the Entrepreneurship Era, the Production Era, the Marketing Era, and the Relationship Era." Rayman Automobiles was founded in the production era because of the characteristics it showed, which are similar to those in the production era. In the Production era, business were most concerned with the achievement of improving the efficiencies of their production process. This period also promoted job specialization, thereby ensuring an increase in productivity and a corresponding reduction in prices and costs.
Rayman Automobiles, founded in 1912, improved its manufacturing processes to increase output and lower costs, reflective of trends during the Technological Revolution period of the Industrial Revolution. This period, marked by advancements in manufacturing and production, made products like automobiles affordable to the mass market, similar to what other companies like Ford were doing at the time.
Explanation:Rayman Automobiles, an automobile manufacturing company founded in 1912, primarily focused on creating greater efficiencies by refining its processes and creating specialized jobs. This allowed the company to increase its output and lower the prices of its products, making automobiles an affordable commodity for the general public. This pattern of increased production efficiency and lower cost goods is characteristic of the Industrial Revolution.
The Industrial Revolution, specifically the second phase often referred to as the Technological Revolution, occurred between the late 19th and early 20th centuries — a timeframe which aligns with the founding date of Rayman Automobiles. During this period, there were significant advancements in manufacturing and production technologies, leading to increased output and more affordable products.
Much like what happened with Rayman Automobiles, these advancements allowed for mass production and market expansion, as products became more affordable to the general public. Similar to other companies of the time, such as Ford, the focus was to produce an affordable and reliable product for the mass market. Hence, in the context of the history of American business, Rayman Automobiles was most likely founded during the Technological Revolution phase of the Industrial Revolution.
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Identify the type of sampling used (random, systematic, convenience, stratified, or cluster sampling) in the situation described below.A woman is selected by a marketing company to participate in a paid focus group. The company says that the woman was selected because her name is among the first 400 in the phone number listings.
The sampling method used in the provided scenario is systematic sampling, as the company selected every 'nth' person from a phone directory.
Explanation:The type of sampling used by the marketing company is systematic sampling. Systematic sampling is a method where you select every 'nth' item from a large population. In this case, the company appears to have a list (like a phone directory), and they've chosen the first 400 names, perhaps as every 'nth' person, depending on the size of the directory. This method provides an unbiased representation of the population and is not to be confused with convenience sampling which simply selects easily accessible individuals and may not accurately represent the population.
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Kaitlin has $10,000 of savings that she may deposit with her local bank. Kaitlin wants to earn a real rate of return of at least 4 percent and she is expecting inflation to be exactly 3 percent. What is the lowest nominal interest rate that Kaitlin would be willing to accept from her local bank A. 4 percent B. 5 percent C. 6 percent D. 7 percent
Answer:
(D) 7 percent
Explanation:
Nominal interest rate is approximately equal to real interest rate + inflation rate
= 4% + 3%
= 7%.
Thus, the minimum nominal interest rate that Kaitlin would be willing to accept from her local bank is 7%.
All organizational practices and decisions that affect either the number or types of individuals willing to apply for and accept job offers is ________.
Answer:
recruiting
Explanation:
All organizational practices and decisions that affect either the number or types of individuals willing to apply for and accept job offers is recruiting. This is because this practice involves everything that has to do with bringing individuals into the company, by convincing them that the company is the best fit for them at a professional level with regards to their abilities and personality.
Which of the term structure theories claims that investors require maturity premiums to compensate them for buying securities that expose them to the risks of fluctuating interest rates?
Answer:
the liquidity preference theory
Explanation:
The theory of liquidity preference relates to the concept that indicates that an investor will accept a lower rate of interest or yield on assets with lengthy-term maturities that come with higher volatility as stakeholders favor cash or other highly liquid resources, all other considerations being equivalent.
As per the liquidity choice principle, brief-term debt interest rate is lower as creditors do not risk liquidity with larger time periods than medium- or longer-term securities. In simple words, As per the liquidity choice principle, the brief-term debt interest rate is lower as creditors do not risk liquidity with larger time periods than medium- or larger-term securities.
Mark owns a 24-hour convenience store. Lately he has noticed that the liquor inventory purchases have gone up by huge amounts, although sales proceeds from this category haven't increased. He suspects his two night-shift employees. Which is the best investigative method to uncover such a fraud?
A. Electronic investigation.B. Conversion investigation.C. Inquiry investigation.D. Concealment investigation.
Answer:
The correct option is D: Concealment investigation
Explanation:
Marks suspects a concealment crime and hence would use concealment investigative method to tackle this. Concealment occurs when documents that might prove as evidence are being manipulated. This may include manipulating the sales invoices, checks, sales report, purchase invoices etc. It also involves the modification or outright deletion of records from the database of a company. Mark would have to use concealment-based investigation as he will have to look at his books with the aim of looking for any manipulated documents or electronic records that may have been altered. This way, he can uncover the truth.
Assets have productive capacity; they are assets used to produce goods and services. assets are claims on real assets or the income generated by them.a) trueb) false
Answer:
Assets have productive capacity; they are assets used to produce goods and services. TRUE
Assets are claims on real assets or the income generated by them. FALSE
Explanation:
It is a correct assertion that 'assets' have productive capacity and that they are assets used to produce goods and services because by definition an asset is a resource that can be used to produce value and that is held by a company to produce positive economic value
BUT
The assertion that 'assets are claims on real assets or the income generated by them' is FALSE because that is the meaning of liabilities. Liabilities by definition are claims on assets, which defines both liabilities and owners' equity.
An investor who is short a call option on ABC and wants to offset the position would enter:_______
a) an opening sale.
b) a closing purchase.
c) a closing sale.
d) an opening purchase.
Answer:
Closing purchase
Explanation:
Closing Purchase is a transaction made to close a position.
Offsetting is the way that most traders close a position, this can also be referred to as closing purchase . Offsetting is simply a method of reversing your original transaction to exit the trade. You can always sell an option that you previously bought, or buy an option that you previously sold, at any time before the end of the last trading day.
The tendency to search for information consistent with our preconceptions is called: A. functional fixedness B. the representativeness heuristic C. the availability heuristic D. confirmation bias
Answer:
D, confirmation bias
Explanation:
Confirmation bias is a form of cognitive bias that is defined as the tendency to interpret ,search, recall an information that confirms one's previous personal belief.
For example, if you suspect that a friend of yours is a thief after some things went missing a few times after he left you place and then someone else tells you he is also suspecting that same friend of being a thief, your confidence bias immediately connects both situations and then you believe your friend is a thief.
I hope this helps.
Confirmation bias is the tendency to seek or favor information that validates our pre-existing beliefs, leading to a skewed interpretation and recall of information.
Explanation:The tendency to search for information consistent with our preconceptions is called confirmation bias. This cognitive bias refers to our inclination to favor, interpret, and recall information that supports our existing beliefs. For example, if you believe that cats are not friendly, you may more likely recall instances where a cat behaved unfriendly than those where a cat was friendly, even if these instances were equal in number. This happens because the information supporting your belief that 'cats are unfriendly' gets more priority and is more easily remembered.
In comparison, functional fixedness refers to viewing objects as only working in a particular way, the representativeness heuristic involves stereotyping based on a perceived category, and the availability heuristic involves making conclusions based on easily remembered or readily available instances.
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Arthur, a production manager, knows that some of his employees are upset with a new corporate policy that eliminates a tuition reimbursement program. As a result, some of these employees are reducing their productivity. According to Taylor's principles to improve workers' productivity, to eliminate this behavior, Arthur should_______________.
Answer:
A) carefully select workers according to their abilities and give workers training.
Most likely, these workers are decreasing their productivity through the means of soldiering. In other words, it means that they would follow the productivity pattern of the least productive worker, since they all get the same benefits (or the lack of a mutual benefit - tuition reimbursement program).
In order to combat this negative practice, Arthur should select workers with robust, high-quality abilities and provide them with a training and development program. This way they will become ultimately productive, while the cost-cutting corporate policy will be kept.
Final answer:
To address employees' reduced productivity due to dissatisfaction with policy changes, Arthur should employ Taylor's principles by focusing on training and development, optimizing work processes through time and motion studies, and involving employees in solution-finding processes.
Explanation:
According to Taylor's principles to improve workers' productivity, to eliminate the behavior of employees reducing their productivity due to dissatisfaction with the elimination of the tuition reimbursement program, Arthur should focus on training and development of employees, conduct time and motion studies, and implement changes that improve both the company's output and the employees' work conditions.
One of Taylor's key principles was the notion that the best outcome for both employees and management could be achieved through comprehensive training that enables workers to perform optimally. Additionally, Arthur could conduct studies to optimize work processes and ensure that employees can work efficiently. It would also be beneficial for Arthur to involve employees in the process of finding solutions, thereby empowering them to act on the negatives they mention. For example, he can ask employees to provide input on how to change the situation and contribute to developing an alternative to the discontinued program that might still support their growth and development.
The situation in which some necessities have little value while some non-necessities have a much higher value is known as a. paradox of value. c. trade-offs. b. opportunity cost. d. economic interdependence.
Answer:
correct answer is a. paradox of value
Explanation:
the correct answer is a paradox of value and it is also known as diamond water paradox
like as marginal utility of diamond is very high in part
as it is use as celebrating of any life event
and it is also used for a signal by 1 person to another one as the commitment of both each other
so which thing has the highest value that is used frequently little/no value in the exchanging
and those have the highest value for exchange that have frequently little/no value use in value in use and value in exchange
so here the correct answer is a. paradox of value
In what stage of the consumer decision making process is Josh when he becomes concerned whether his friends will enjoy the video game he downloaded?
Answer:
Post purchase evaluation
Explanation:
The post purchase evaluation is the stage where consumers determine whether he is satisfied or dissatisfied with the products he has purchased. The post purchase evaluation stage is referred to as the last stage in the consumer decision process and this stage determine whether the consumer will still patronize that product or not.
Therefore Josh concern of whether his friends will enjoy the video game or not shows that he is in the stage of post purchase evaluation of the consumer decision process.
North Carolina produces sweet potatoes in its rich soil, but does not have the climate to grow oranges well. It is correct to say that North Carolina has a _________sweet potato production relative to Florida. a. free trade agreement with b. trade imbalance with c. comparative advantage in d. monopoly on
Answer:
c. comparative advantage in
Explanation:
In economics, comparative advantage is the advantage a trade party has over the other party, in the production of a a particular good that has a relatively lower opportunity cost. It simply involves exploring the option that has overall best package.
North Carolina has a comparative advantage in sweet potato production relative to Florida, as the opportunity cost involved is lower, since there is little potential benefits North Carolina will get in the production of oranges.
A person's field of experience ONLY consists of the career experience that each participant brings to a communication event.
1. True
2. False
Answer:
False
Explanation:
A person's field of experience does not only consists of the career experience that each participant brings to a communication event. Thus, the given statement is false.
What is career experience?Career experiences, in plain English, are times when a person switches jobs within or outside of their organization. Usually to further one's knowledge, experience, or skills The goal is to keep employees by making sure they are not forced to perform the same boring tasks year after year. Instead, they would often switch positions, assume new duties, and take on new responsibilities.
It is a retention strategy that heavily emphasizes retraining but also has the added advantage of producing a workforce with a diverse range of skills. Employees will be able to develop both their soft and hard skills by working in a variety of positions.
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If an entry to adjust unearned rent and rent revenue is not recorded at the end of the period, Rent Revenue and Net Income on the income statement will be
a. unaffected because these items are not on the income statement.
b. unaffected because the omitted entry affects two accounts that cancel each other out.
c. understated.
d. overstated.
Answer:
c. understated.
Explanation:
Unearned rent usually comes to bear where cash or other forms of consideration has been received in advance for rental income.
When this happens, the entries to be posted are a debit to cash account and a credit to unearned rent.
When the rent is earned during the year, the entries will be a debit to unearned rent (balance sheet item) and a credit to rent revenue( in the p/l).
The recognition of the rent revenue results in an increase in net income.
As such, if unadjusted, rent revenue and net income would be understated.
Option c.
If an entry to adjust unearned rent and rent revenue is not recorded at the end of the period, the Rent Revenue and Net Income on the income statement will be overstated. This is because unearned rent is a liability that, if not recorded, inflates the perceived revenue and net income.
Explanation:If an entry to adjust unearned rent and rent revenue is not recorded at the end of the period, the Rent Revenue and Net Income on the income statement will be overstated.
This is because unearned rent represents a liability (or an amount that the business owes). If this is not recorded, it gives the impression that the business earned more revenue than it actually did, thus increasing the net income on the income statement artificially.
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A commercial for the drink SunnyD explains how nutritious it is in comparison to other, more "sugary" drinks. While children under 12 are the most likely consumers of SunnyD, the commercial is aimed at mothers. These mothers represent SunnyD's:____________
Answer:
A commercial for the drink SunnyD explains how nutritious it is in comparison to other, more "sugary" drinks. While children under 12 are the most likely consumers of SunnyD, the commercial is aimed at mothers. These mothers represent SunnyD's target market.
Explanation:
Marketing is a way in which the producer can provide information about it's goods and service to the customers. The marketing channels can either be direct or indirect depending on which strategy works best for the company. The major reason for marketing is to provide more information about the product and services to cover a larger audience. There is always potential in marketing to convert an audience to a loyal customers depending on the effectiveness of the marketing strategy. More customers usually translates to an increase in sales, and ultimately to an increase in profits. Increased profits is a reflection on business success since most companies get into competitive business to make profits. An example of marketing strategy that is often is used is target marketing.
Target marketing is a type of communication with your potential customers that involves providing more information to a select group of people in the market. This is done by tailoring the message in such a way to ensure that it is directed towards that particular group of people. In the question above, the commercial is made in a certain way to target mothers and possibly convert them to loyal customers.
Final answer:
The commercial for SunnyD targets mothers as its primary marketing demographic, emphasizing the drink's nutritional benefits over other sugary options to appeal to their concerns for their children's health. This strategy indicates an acute awareness of parents' increasing vigilance regarding children's dietary choices and health risks associated with sugary beverages.
Explanation:
A commercial for the drink SunnyD explains how nutritious it is in comparison to other, more "sugary" drinks. While children under 12 are the most likely consumers of SunnyD, the commercial is aimed at mothers. These mothers represent SunnyD's target market. Advertising aimed at children often involves colorful imagery and fun, but when it comes to products like beverages, which have been under scrutiny for their high sugar content and potential health risks, targeting mothers becomes a strategic decision. This is an attempt to appeal to the decision-makers in the household who are concerned with their children's nutrition and health. By highlighting the nutritious aspects of SunnyD in comparison to other sugary drinks, the advertisement seeks to influence mothers' purchasing decisions, thereby indirectly reaching their primary consumers - the children. This strategy reflects an understanding of the changing landscape of consumer awareness, where parents, and specifically mothers, are more vigilant about the sugar intake and overall nutritional value of the products their children consume. The advertising strategies now increasingly focus on nutritional benefits to alleviate health concerns associated with sugary drinks.
According to Heckscher-Ohlin (H-O) model, a country will export those goods: Group of answer choices That are intensive in its relatively abundant factors for which the world price is below the domestic price. That are produced at a relatively high opportunity cost In which it does not have a comparative advantage?
Answer:
Both options are incorrect, since the Heckscher-Ohlin (H-O) model assumes that countries will trade goods that are intensive in its relatively abundant factors, but it the world price is below the domestic price then the trade doesn't make sense. This model explains why the costs of factors of production will tend to be similar between countries that engage in trade.
The second option makes even less sense since the countries should export goods that are produced at a relatively low opportunity cost.
Explanation:
According to the Heckscher-Ohlin (H-O) model, countries differ in the relative abundance of factors of production, and their exports are going to be based on those abundant factors. But it makes the mistake of assuming that technology is similar and available in all countries. The (H-O) model is also based on the study of just two factors of production, and the factors of production are four (land, labor, capital and entrepreneurship), and they can all be traded or changed from one country to another. For example, the founders of Google, Amazon, Tesla, and others are all immigrants that came to the US and they were all entrepreneurs. The (H-O) model also states that no country can have abundance of all the factors of production, but the US is unique in the sense that all the factors of production are abundant here.
Pediacertain Pet Supplies divides the pet market according to the owners' race, occupation, income, and family life cycle. What type of segmentation is Pediacertain using?
A) geographic
B) behavioral
C) lifestyle
D) demographic
E) psychographic
Answer:
D) demographic
Explanation:
The market is been divided as per income, race, age, religion and family size, this is usage of the demographic segmentation.
A group of middle school students were given a short course in math. The instructor was curious if a monetary incentive (money) would influence performance on a math test taken at the end of the course. Half the students were offered $5 for obtaining a certain level of performance on the test, the other half were not offered money.?
Answer:
Explanation:
Based on the information provided within the question it can be said that in regards to the experiment details the variables are the following:
The Independent Variable would be the $5 in money offered to some of the students. The Dependent Variable would be the test performance of each student. The Experimental group are the students that were offered money . The Control group are the students who were not offered money.
Dallas is an analyst at an online retailer. He is great at creating representative diagrams showing the relationships between customer purchases, billing, and shipment. This indicates that he has ________ skills. A)abstract reasoning •B)collaborative •C)experimental •D)systems thinking •E)spatial intelligence
Answer: (A) Abstract reasoning
Explanation:
The abstract reasoning is the term which is used to refers to the ability for analyzing the various types of data, relationship and the pattern and also has ability for solving the various types of complex system on some regular basis.
The abstract reasoning is the term which refers to the skills that involve various types of strategies that helps in solving the complex problems and easily formulate the theories.
According to the given question, the given situation indicated that Dallas has the abstract reasoning ability as he is creating the representatives diagram for show the relationship of shipment and the consumer purchases.
Therefore, Option (A) is correct answer.
Dallas, the analyst at an online retailer, possesses strong spatial intelligence skills. This is evident from his ability to create diagrams showing the relationship between different aspects such as customer purchases, billing, and shipment. Spatial intelligence involves the ability to visualize and understand relationships within space.
Explanation:Dallas, an analyst at an online retailer, demonstrates his capacity to create comprehensive diagrams that display the connections between customer purchases, billing, and shipment. His ability to visually present these complex relationships suggests that he possesses strong spatial intelligence skills.
Spatial intelligence, a term coined by psychologist Howard Gardner, refers to the ability to visualize and understand the relationships of entities within space. Individuals with high spatial intelligence tend to be great at tasks involving navigation, map reading, and handling and manipulating objects, which is evident in Dallas's successful creation of representative diagrams. They are often adept at identifying patterns and relationships, which are key skills in many fields, including the business and analytics field Dallas is involved in.
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In a free-market economic system, if consumers perceive the price for a state-of-the-art smartphone as too high for the value received, they are likely to avoid buying it. In the same light, if the:________
In a free-market economic system, consumers have the power to decide whether or not to purchase a product based on their perceived value of it. If they deem the price to be too high for the value received, they are likely to avoid buying it.
In a free-market economic system, if consumers perceive the price for a state-of-the-art smartphone as too high for the value received, they are likely to avoid buying it. This is because in a free-market system, consumers have the freedom to make purchasing decisions based on their own perceived value of a product. If they feel that the price is too high, they may choose to wait for a price drop or consider purchasing a different, more affordable option.
For example, if a consumer sees a state-of-the-art smartphone priced at $1,500 but feels that the features and benefits of the phone do not justify the high price, they may choose not to buy it. Instead, they might opt for a smartphone with similar features but at a lower price point, or wait for the price to decrease.
In summary, in a free-market economic system, consumers have the power to decide whether or not to purchase a product based on their perceived value of it. If they deem the price to be too high for the value received, they are likely to avoid buying it.
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Final answer:
In a free-market economic system, prices influenced by supply and demand can be misinterpreted by consumers when using price as an indicator of quality, especially in markets with imperfect information. This can lead to unexpected market behavior that deviates from the standard demand and supply model. Over time, the market adjusts as information spreads and consumers become more informed about the true value of products.
Explanation:
In a free-market economic system, the interaction of supply and demand determines the prices of products and services. However, when consumers perceive the price of a product as a signal of its quality, this can disrupt the typical market behavior. For instance, a used car dealer who lowers prices to increase sales may inadvertently signal to consumers that the cars are of low quality, deterring rather than attracting buyers. Conversely, increasing prices might create an impression of higher quality, potentially increasing demand. This phenomenon, which contradicts the basic demand and supply model, illustrates the complexities of a market with imperfect information.
Consumers' buying habits are influenced by their subjective valuations, and they are likely to adjust their purchasing decisions as better and more cost-effective options become available or as their personal circumstances change. Ultimately, the natural limits of price perception come into play, and excessively high prices will reduce demand, while very low prices may increase it, once consumers recognize the actual value of the products. Over time, information asymmetry diminishes as information spreads, helping to correct market distortions caused by misinterpretations of price signals.
While generally accepted accounting principles do allow flexibility, standards of _________, ________, and ________ must always prevail in the financial statements. subjectivity; integrity; validation objectivity; integrity; judgement recording; reporting; accounting quality; excellence; and judgement
Answer:
While generally accepted accounting principles do allow flexibility, standards of _objectivity_, _integrity_, and _judgement_ must always prevail in the financial statements
Explanation:
The concept of objectivity is the concept that an organisation's financial statements are based on solid evidence. The purpose behind this principle is to prohibit an entity's management and accounting department from generating financial statements based on their views and prejudices
Integrity is an important cornerstone of the accounting profession. Integrity requires accountants to be honest, candid and straightforward with the financial information provided by a client. Accountants should use confidential information to limit themselves to personal gain or advantage
professional judgment in deciding whether the content of business transactions differs from its nature, in assessing the appropriateness of disclosure, in determining the likely effect of upcoming events.
In financial reporting and accounting, under the Generally Accepted Accounting Principles, three principles must always prevail. These are objectivity, integrity, and judgment.
Explanation:While the Generally Accepted Accounting Principles (GAAP) do allow for some flexibility, there are three fundamental guidelines that must always take precedence in financial reporting and accounting. These are objectivity, integrity, and judgment.
Objectivity means that financial information is unbiased, factual, and verifiable. It should be free from personal bias or the influence of related parties.
Integrity implies that data is presented honestly and accurately, without any attempt to deceive or mislead users of financial information.
Judgment is the use of discretion and professional expertise in applying accounting rules to specific situations. It is an essential aspect of meeting the goals of financial reporting.
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An employee at a branch office is creating a quote for a customer. In order to do this, the employee needs to access confidential pricing information from internal servers at the Head Office. What type of network would the employee access?a) an intranetb) the Internetc) an extranetd) a local area network
Answer:
A) an intranet
Explanation:
An intranet is a private computer network that should only be used by an specific group of users, it should not be accessed by individuals that do not work in the company. The intranet is accessed by the internet, but with restrictions and limitations. An intranet requires a user id and password in order to gain access. It is a way of protecting sensible or confidential information.
U.S. businesses and those of other countries are seeking to expand around the world for many reasons. Which of the following is not one of those reasons?
a. Passage of favorable trade agreements
b. Development of new transportation and information technology
c. An increase in underdeveloped countries
d. Maturing domestic markets
Answer:
C
Explanation:
An increase in underdeveloped countries cannot be the reason why businesses would expand abroad because there wont be as much potential buyers in underdeveloped economies as they have very low capita income and most of the residents live in very poor conditions. But however other options are valid because favorable trade agreements and developed transportation and IT makes the international trade easy and beneficial to both the buyer and the seller. Moreover, when domestic markets matures, the rate of growth slows down and falls to zero. this is when the businesses want to emerge and find new markets abroad in order to benefit from the trade as in matured market there is less chance for businesses to grow and it becomes risky