BUS 3103 Midterm - Version A- Page 3 of 5 06/06/22 2. choose 2 of the 4 Questions below and answer them. 1. What is the difference between the income approach and the expenditure approach to GDP 2. what are the 3 different types of economics? 3. What are the activities that impact GDP? 4. Draw a basic circular flow chart showing the relation between firms and individuals.
Answers
The income approach and the expenditure approach are two different methods used to calculate Gross Domestic Product (GDP), which is a measure of the total value of goods and services produced within a country's borders
The income approach to GDP calculates GDP by summing up all the incomes generated in the production process. It includes the wages earned by workers, profits earned by businesses, rents earned by property owners, and interest earned by lenders. It also takes into account indirect taxes (such as sales taxes) and subsidies. This approach focuses on the income generated by the production of goods and services.
On the other hand, the expenditure approach to GDP calculates GDP by summing up all the spending on final goods and services in the economy. It includes consumer spending (household consumption), investment spending (business investment in capital goods), government spending (government consumption and investment), and net exports (exports minus imports). This approach focuses on the total spending by different sectors of the economy.
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Related Questions
Fill in the blanks Domain 2 lesson 3
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Developing a sales presentation is part of the preparation step of a sales process.
What is involved in preparation step of a sales process?The preparation step of a sales process is crucial in ensuring the success of the sales interaction. In this stage, the salesperson researches the potential client, their needs and preferences, and prepares a strategy for approaching them.
All these includes gathering information on the client's industry, competitors, and business objectives. The salesperson should also research the client's budget and purchasing power to ensure that the product or service they are offering is a good fit.
In addition, the salesperson should prepare a presentation or proposal that highlights the unique value proposition of their product or service and how it can meet the client's needs.
Full question "Fill in the blanks Domain 2 lesson 3. Developing a sales presentation is part of the ________ step of a sales process. [Elements of a Sales Process]
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How does technical education play a vital role to develop the entire nation?
pls- don´t lie
;)
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Answer: Education is needed for jobs. If we dont have education people cant get certain jobs. Without certain jobs the world would fall into a pandemic.
Explanation:
Answer:
Technical education play a vital role to develop the entire nation by improvimg the well beimg of youth and communities.
It increases the productivity. It also helps to accelerate the pace of work and motivate the person towards his/her work.It creayes skilled manpower and improves the quality of life.
on november 1, orange corp. sold goods on account to apple. orange agreed to accept a $40,000, 12%, 3-month interest-bearing note from apple in payment for the goods. the entry required on orange's books on december 31, at the end of the year includes a
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the entry required on orange's books on December 31, at the end of the year includes a debit (DR.) to Notes Receivable, $40,000.
What are notes receivable?A bill receivable consists of the "payee" (usually a company, sometimes called a creditor) and the "creator" of the promissory note (usually a customer) in writing or an employee, sometimes also called a debtor). A bill receivable can exist between a company and another party (another company, a financial institution, or an individual). Most often it happens when a customer takes longer to pay for a sale than standard billing terms. Instead of agreeing to a later payment, the recipient charges interest and requires a signed promissory note for legal reasons. A cash advance to an employee, where the company requires the employee to sign a promissory note, is another way to obtain a promissory note. Bills receivable have a higher probability of payment than easy credit purchases called accounts receivable. This is by means of a signed promissory note, which can be presented as evidence in court proceedings. In addition, bills receivable may be sold to third parties. By reducing outstanding "bad debt", collecting interest income, and facilitating contract sales, bills receivable are a tool for improving cash flow.For accounting purposes, the payee records the bill receivable as an asset on its balance sheet and the related interest income on its income statement. The portion of the bills receivable that is repaid within one year is classified as current assets and the remainder is classified as non-current assets.To know more about notes receivable refer to:
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check 2 metrics that you think are most important. We may be able to fit more, but this will help us make sure you have what you need at the end of each week.
Total # visitors
# Different countries
Average bounce rate on home page
# Unique visitors
Average time spent on home page
# Signups for newsletter
Top traffic sources
Total number of page views
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Total number of unique visitors and Average time spent on the home page are two key metrics that are most important for a college student to track each week.
Total number of unique visitors: This metric is a measure of how many individual people are visiting the website. Unique visitors are important to track because it gives a better representation of how many people are engaging with the website, as opposed to just counting total page views, which can be influenced by repeat visits from the same person.
Average time spent on the home page: This metric gives an indication of how engaging the content on the home page is. If the average time spent on the home page is low, it may indicate that the content is not holding the visitor's attention and may need to be updated or improved.
Metrics are a vital tool for measuring the success and growth of a website. The choice of metrics to track depends on the goals of the website and what data is most important to the website's stakeholders.
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An increase in the value of an investment is called...
A inflation
B. net asset value (NAV)
C appreciation
D. yield
E market mover
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Answer:
C appreciation
Explanation:
Appreciation is the term that describes the increase in value by an asset over time. Several factors may cause an increase in value. They include
In demand for the assetsCustomers perceptionsReduced supply for the assetIncrease in inflation or interest ratesMost businesses use __________ networks.
wired
wireless
Answers
Answer: wired
Explanation:
wired is the cheapest
Mr. Jacob, who is terminally ill, writes a will transferring all his assets to his daughter Silvia, in the event of his death. The doctors say that Mr. Jacob will live for about six months. A day after the will is written, Silvia wishes to transfer her expected inheritance to her son, Jacob Jr. This assignment will be ________.
Answers
Answer:
Invalid
Explanation:
Since it is stated in the will, that upon his death should the assets be transferred, it means that Silvia doesn't get anything until Mr Jacob ceases to be alive.
With the new development as regards Mr Jacob living for 6 more months before dying, Silvia has no assets yet and as such cannot transfer anything to Jacob Jnr.
Cheers
Making a list of the advantages and disadvantages is a good strategy to help you compare your choices.
True or False
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Answer: True
Explanation: it helps you see the advantages and disadvantages and compare them
It is accurate to say that making a list of benefits and drawbacks is an excellent way to compare your options.
What is a strategy?A general plan to accomplish one or more long-term or overall goals in the face of uncertainty is known as a strategy. The term was first used in the 6th century C.E. in Eastern Roman terminology, and it wasn't until the 18th century that it was translated into Western vernacular languages in the sense of the "art of the general," which included several sections of skills such as military tactics, siegecraft, logistics, etc.
From that point forward, and up to the 20th century, the term "strategy" grew to mean "a comprehensive means to try to attain political aims, including the threat or real use of force, in a dialogue of wills" in a military battle, in which both opponents interact. Strategy is crucial because there are typically few resources available to accomplish goals.
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demand for a luxury is generally more ______________ than demand for a necessity because a luxury has ______________ substitutes. A. elastic; fewer B. inelastic; fewer c. elastic; more D. inelastic; more
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Demand for a luxury is generally more elastic than demand for a necessity because a luxury has more substitutes
Hence the correct option is (c).
What is demand in economics?Demand is the willingness of consumers to buy and pay for goods and services without hesitation. Simply put, demand is the number of items that customers are willing to purchase at various prices over a period of time.
What are different types of demand?Autonomous and Derived DemandOrganization and Industry DemandDemand for Perishable and Durable GoodsIndividual and Market DemandShort-term and Long-term DemandDemand and supply in economics:In economics, demand is the willingness and ability of consumers to do so. To purchase a specific quantity of goods or services at a specific price. Offer is willingness. by a seller who offers a specific quantity of goods or services at a specific price
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Pauline sits near the snacks in the office. There are 555 flavors of chocolate, and she wonders if some flavors get chosen more than others. She plans to record how often each flavor gets chosen in a sample of selections to carry out a \chi^2χ 2 \chi, squared goodness-of-fit test on the resulting data
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The conditions for carrying out this test are:
She takes a random sample of selections.A She observes each snack being selected at least 5 times.What does goodness of fit test implies?Goodness-of-fit tests is known tp be a test that helps one to know how well sample data is said to fit what is expected of a specific population.
From any sample data, an observed value is said to be gathered and then they are compared to the calculated expected value.
The Chi-square goodness of fit test is known to be a statistical hypothesis test that is used to know if a variable is likely to come from a specified distribution or not.
See options below
Which of these are conditions for carrying out this test? Choose 2 answers:
A She observes each snack being selected at least 5 times.
B She expects each snack to be selected at least 5 times.
с She takes a random sample of selections.
D She samples at least 30 selections.
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Jerome knew it was wrong for his company to continue ignoring environmental standards set down by the state. Jerome is able to determine this based on:.
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Answer:
His impact on the environment. What other say about his company
Explanation:
what important technology has done the most
Answers
What would you like to know?
Answers
Answer:
I like these free points. Also Panic! At The Disco anyone?
Explanation:
Main Street Ice Cream Company uses a plantwide allocation method to allocate overhead based on direct labor-hours at a rate of $3 per labor-hour. Strawberry and vanilla flavors are produced in Department SV. Chocolate is produced in Department C. Sven manages Department SV and Charlene manages Department C. The product costs (per thousand gallons) follow. Direct labor (per 1,800 gallons) Raw materials (per 1,000 gallons) Strawberry $751 801 Vanilla $ 826 501 Chocolate $1,126 601 Required: a. If the number of hours of labor per 1,000 gallons is 51 for strawberry, 56 for vanilla, and 100 for chocolate, compute the total cost of 1,000 gallons of each flavor using plantwide allocation. b. Charlene's department uses older, outdated machines. She believes that her department is being allocated some of the overhead of Department SV, which recently bought state-of-the-art machines. After she requested that overhead costs be broken down by department, the following information was discovered: Overhead Machine-hours Labor-hours Department sv $100,840 25, 210 25, 210 Department C $34,740 36,100 18,000 Using machine-hours as the department allocation base for Department SV and labor-hours as the department allocation base for Department C, compute the allocation rate for each. c. Compute the cost of 1,000 gallons of each flavor of ice cream using the department allocation rates computed in requirement (b) if the number of machine-hours for 1,000 gallons of each of the three flavors of ice cream are as follows: Strawberry, 51; vanilla, 56, and chocolate, 151. Direct labor-hours by product remain the same as in requirement (a). Complete this question by entering your answers in the tabs below. Required A Required B Required c If the number of hours of labor per 1,000 gallons is 51 for strawberry, 56 for vanilla, and 100 for chocolate, compute the total cost of 1,000 gallons of each flavor using plantwide allocation. Total Cost Strawberry Vanilla Chocolate < Required A Required B >
Answers
a) Total cost of 1,000 gallons of chocolate ice cream is $300
b) Allocation rate for Department C is $1.93 per labor-hour
c) Total cost of 1,000 gallons of chocolate ice cream is $604.
a) To compute the total cost of 1,000 gallons of each flavor using the plantwide allocation method, we need to multiply the number of labor-hours per 1,000 gallons by the overhead allocation rate per labor-hour.
For strawberry ice cream:
Labor-hours per 1,000 gallons = 51
Overhead allocation rate per labor-hour = $3
Total cost of 1,000 gallons of strawberry ice cream = 51 labor-hours * $3/labor-hour = $153
For vanilla ice cream:
Labor-hours per 1,000 gallons = 56
Overhead allocation rate per labor-hour = $3
Total cost of 1,000 gallons of vanilla ice cream = 56 labor-hours * $3/labor-hour = $168
For chocolate ice cream:
Labor-hours per 1,000 gallons = 100
Overhead allocation rate per labor-hour = $3
Total cost of 1,000 gallons of chocolate ice cream = 100 labor-hours * $3/labor-hour = $300
b) To compute the allocation rate for each department, we divide the total overhead costs by the corresponding allocation base.
For Department SV:
Total overhead costs = $100,840
Machine-hours = 25,210
Allocation rate = Total overhead costs / Machine-hours
Allocation rate for Department SV = $100,840 / 25,210 = $4 per machine-hour
For Department C:
Total overhead costs = $34,740
Labor-hours = 18,000
Allocation rate = Total overhead costs / Labor-hours
Allocation rate for Department C = $34,740 / 18,000 = $1.93 per labor-hour
c) To compute the cost of 1,000 gallons of each flavor of ice cream using the department allocation rates, we need to multiply the number of machine-hours or labor-hours per 1,000 gallons by the corresponding allocation rate.
For strawberry ice cream:
Machine-hours per 1,000 gallons = 51
Allocation rate for Department SV = $4
Total cost of 1,000 gallons of strawberry ice cream = 51 machine-hours * $4/machine-hour = $204
For vanilla ice cream:
Machine-hours per 1,000 gallons = 56
Allocation rate for Department SV = $4
Total cost of 1,000 gallons of vanilla ice cream = 56 machine-hours * $4/machine-hour = $224
For chocolate ice cream:
Machine-hours per 1,000 gallons = 151
Allocation rate for Department SV = $4
Total cost of 1,000 gallons of chocolate ice cream = 151 machine-hours * $4/machine-hour = $604
Please note that the direct labor-hours by product remain the same as in requirement (a).
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When using humor in a professional environment, it's important to remember...
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When using humor in a professional environment, it's important to remember that jokes should be inclusive, and tasteful. Humor can lighten the mood, increase team morale, and reduce stress levels when used correctly. However, it's essential to consider the context and audience before making any jokes.
Crude or insensitive jokes can be harmful, and they have no place in a professional setting.
Humor can hurt others' feelings, and it can create an awkward or hostile environment that may lead to a loss of respect from peers. Therefore, to prevent that situation, jokes should be more natural and relate to something everyone can understand. As humor is subjective, it's crucial to ensure that jokes and humor do not target a particular group or individual in the office.
Making fun of colleagues or employees can also lead to creating conflicts and harm professional relationships. It's essential to use humor mindfully in the workplace and only when it's appropriate. Humor should never be used to mask poor communication or to avoid dealing with serious problems in the workplace.
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Which of these are possible options for most people who cannot pay their bills?
a. Get help from a credit counselor.
b. Obtain a debt consolidation loan.
c. Declare Chapter 13 personal bankruptcy.
d. Declare Chapter 7 personal bankruptcy.
e. All of these are possible options.
Answers
The correct answer is (e) All of these are possible options for most people who cannot pay their bills. When people find themselves unable to pay their bills, they may turn to several options.
One option is to get help from a credit counselor who can help develop a debt management plan, create a budget, and negotiate with creditors for lower interest rates or payments. Another option is to obtain a debt consolidation loan, which is a loan that combines multiple debts into a single monthly payment with a lower interest rate. If these options do not work, declaring personal bankruptcy may be a viable solution.
Chapter 13 bankruptcy is a repayment plan that allows the debtor to keep their assets while paying back a portion of their debt over a three- to five-year period. Chapter 7 bankruptcy is a liquidation bankruptcy that eliminates most unsecured debt and allows the debtor to start fresh with a clean financial slate.
However, declaring bankruptcy may have serious consequences, such as damaging one's credit score, losing assets, and facing legal fees. It is important to seek professional advice and consider all options before making a decision.
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What is a trend in business
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What are three elements of negligence?
Actual Harm
Breach of duty
State of mind
Duty of care
Proximate cause
Motive
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Answer:
actual harm
breach of duty
duty to act
The government is in charge of everything in a command economy Question 2 options: True False.
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Answer:
•true
I hope it will help you have a great day bye and Mark brainlist if the answer is correct
\(kai6417\)
What are Logistics careers?
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an employee can be dismissed if their job surplus to requirements' outline why this state ment is false
Answers
Which of the following stages of the product life cycle is likely to utilize reminder advertising for marketing communications as profit margins narrow?
a. Maturity stage
b. Decline stage
c. Introduction stage
d. Cannibalization stage
e. Growth stage
Answers
The maturity stage of the product life cycle is likely to utilize reminder advertising for marketing communications as profit margins narrow.
The maturity level takes place after the advent and boom ranges. The maturity level is the longest degree of the product existence cycle. on this level, income increase begins to say no; the organization reaches the best point inside the call for the cycle; and advertising strategies have minimum effect on income growth.
The growth and maturity stages of a product life cycle are:-
retaining product first-rate and including features or assist offerings for the product.retaining pricing to increase demand for the product.increasing distribution channels to address demand.aiming promotion at a much wider target audience.A maturity degree is when a product has been set up inside the marketplace in the p.c. adulthood degree of a product is stated to be attained whilst the product has reached its top in income and the extent income boom tends to stagnate.
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List one type of appropriate workplace verbal communication
Answers
Answer:
Explanation:
Call centers are the appropriate workplace verbal communication
Deanna purchased $24,000 worth of stock and paid her broker a 1% broker fee. She sold the stock when it increased to $29,100 three years later and used a discount broker who charged $35 per trade. Compute her net proceeds after the broker fees were taken out
Answers
Answer:
Here:
Explanation:
Purchase price of shares = 24000
total purchase cost = price of shares bought + broker fees total purchase cost = 24000 + 0.01*24000 =24240
selling price of shares = 29100
total selling cost = price of shares sold - broker fees total selling cost = 29100 - 35 = 29065
Net proceeeds = total selling cost - total purchase cost Net proceeds = 29065 - 24240 = 4825
Broker John received three earnest money checks on Friday. The upcoming Monday is a holiday. When is Broker John required to make an escrow deposit
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Broker John received three earnest money checks on Friday. The upcoming Monday is a holiday. Broker John is required to make an escrow deposit on Tuesday.
What is the deposit?A deposit is the act of placing cash (or cash equivalent) with some entity, most commonly with a financial institution, such as a bank.The deposit is a credit for the party (individual or organization) who placed it, and it may be taken back (withdrawn) by the terms agreed at the time of deposit, transferred to some other party, or used for a purchase at a later date.Deposits are usually the main source of funding for banks.What is money?Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The main functions of money are distinguished as: a medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment. Any item or verifiable record that fulfils these functions can be considered as money.Learn more about deposit here:
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PLEASE HELP!!
In the space provided below, please respond to the following: Create a list of business risks and ways to deal with them.
This project will focus on writing about a current event in business risks. The task is to first find an article that deals with business risks and write a summary of the article. In your summary, you should discuss what the risk is and what steps the business is taking to deal with it. During this project, you'll accomplish the following:
Objectives
Find an article that deals with business risks and write a summary of the article.
Current Event
Use the Internet to find an article that deals with business risks. Once you have found and read your article, record your summary and upload it. Use the following format.
Paragraph #1 - Summary of article including the link
Paragraph #2 - How it relates to entrepreneurship
Paragraph #3 - Your opinion of whether or not you think the appropriate steps are being taken to deal with the risk
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Answer:
No matter how well you plan, your project can always encounter unexpected problems. ... You can use risk planning to identify potential problems that could cause ... Some events (like finding an easier way to do an activity) or conditions (like ... risks that you plan for do happen, and that's when you have to deal with them.
Explanation:
Answer:
I'm hoping that one above helped me out it didnt say :(
Heightened concern with fitness might be a threat to some companies and an opportunity to others. In the SWOT framework, these are ________ environmental factors.
Answers
The growing interest in fitness could be a threat for some companies and an opportunity for others. In the SWOT framework, these are external environmental factors.
The external environment, also known as the macro environment, is beyond the control of any single organization. Factors such as competition, market, economy, demographics, and environmental factors all influence an organization's external environment.
Customers, competition, economics, technology, political and social conditions, and resources are common external factors that affect an organization.
External environmental factors include economics, technological change, regulation, competition, and socio-economic factors. Multiple areas within an organization influence HR activities such as top management, organizational strategy, culture, technology, structure, and size.
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The following picture is best described as
a(n)...
A. Organism
B. Community
C. Population
D. Ecosystem
Answers
Answer:
organism
Explanation:
a gree fish is an organism
Definition: Biproduct - something that is produced because of making something else. “Profits are a biproduct of successfully solving a problem’’ what does this mean ?
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The statement "profits are a byproduct of successfully solving a problem" means that when a company or individual solves a problem, it can result in generating profits as a secondary outcome.
How to define byproduct ?Profits are not the primary objective but rather a natural consequence of creating value and solving problems for others.
For example, if a company creates a product that solves a problem for its customers, such as a more efficient way of doing something, then customers may be willing to pay for that product, and the company can make a profit as a byproduct of solving the problem. In this sense, the profit is not the ultimate goal but rather a reward for creating value and solving a problem for others.
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A mid-level executive visiting a subsidiary in India notices a 12-year-old girl cleaning the factory floor. Child labor is hardly uncommon in India and labor laws are rarely, if ever enforced. Nevertheless, the executive tells the local manager to replace (fire) the child worker and replace her with an adult. The girl is an orphan and sole breadwinner for herself and 6-year-old brother.
The 12-year-old girl is unable to find another job. So, in desperation she turns to prostitution. Two years later she dies of AIDS. Meanwhile, her brother takes up begging. The brother encounters the same executive while begging outside the local McDonald’s. She walks rapidly past his outstretched hand into McDonald’s, where she orders her lunch with fries and cold milk shake. A year later the boy contracts tuberculosis and dies.
In your opinion, did the executive act ethically in this situation?
Does the parent company have a corporate social responsibility to address this problem?
Is the ethical or social responsibility of the local (Indian) factory manager different than that of the foreign executive?
Are societal expectations that businesses incorporate principles of social justice, inclusion, or sustainability (i.e., ethical supply chain) in their decision-making different in India than those of China (or the USA)?
Were you in the same position as this executive, what (if anything) would you have done differently?
Answers
The executive's actions can be considered unethical as they resulted in severe harm to the 12-year-old girl and her brother. The parent company has a corporate social responsibility to address this problem. The ethical and social responsibility of the local factory manager may differ from that of the foreign executive. Societal expectations regarding social justice and ethical supply chains may vary between India, China, and the USA.
The executive's decision to fire the 12-year-old girl without considering the consequences led to a tragic chain of events, resulting in the girl's involvement in prostitution, her eventual death from AIDS, and her brother's descent into begging and subsequent death from tuberculosis. This demonstrates a lack of ethical consideration for the well-being of vulnerable individuals.
The parent company has a corporate social responsibility to address this problem. They should ensure that their subsidiary complies with ethical standards and labor laws, providing proper support and opportunities for the welfare and development of employees, especially minors. Ignoring the issue would be a failure of their social responsibility.
The ethical and social responsibility of the local factory manager may differ from that of the foreign executive. The local manager should prioritize the welfare of the employees, including protecting children from exploitative situations, while the foreign executive should uphold the company's ethical values and enforce responsible practices across subsidiaries.
Societal expectations regarding social justice, inclusion, and ethical supply chains may differ between countries. Each country has its own cultural, legal, and social context that shapes expectations from businesses. Therefore, the expectations placed on businesses in India, China, or the USA may vary in terms of incorporating principles of social justice and sustainability into their decision-making.
If in the same position, an alternative course of action would be to address the issue responsibly by seeking a solution that protects the well-being of the girl and her brother. This could involve working with local authorities, NGOs, or social welfare organizations to provide support, education, and opportunities for a better future rather than resorting to immediate termination without considering the potential consequences.
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