Answer:
Right.
Explanation:
The labor market is as much a commodity as the materials are to be processed.
Labor power is a unique commodity in that it is a characteristic of living people who own it in their own bodies. They cannot permanently sell it to someone else because they own it within themselves; otherwise, they would be a slave, and a slave does not own himself.
Why is important to improve Microsoft access in the workplace?
Answer:
blah blah
Explanation:
blah lol blah blah blah blah blah blah blah blah blah blah blah blah blah
The FI Corporation's dividends per share are expected to grow indefinitely by 5% per year. a. If this year’s year-end dividend is $8 and the market capitalization rate is 10% per year, what must the current stock price be according to the dividend discount model? b. If the expected earnings per share are $12, what is the implied value of the ROE on future investment opportunities? (Do not round intermediate calculations. Round your answer to the nearest whole percent.) c. How much is the market paying per share for growth opportunities (that is, for an ROE on future investments that exceeds the market capitalization rate)?
Answer:
a) Div₁ = $8
Re = 10%
g = 5%
P₀ = Div₁ / (Re - g) = $8 / (10% - 5%) = $8 / 5% = $160
b) we can use the following formula: g = ROE x b
g = growth rate = 5%
b = retention rate = ($12 - $8) / $12 = 0.3333
ROE = g / b = 5% / 33.33% = 15%
c) the present value of growth opportunity (PVGO) = P₀ - EPS / Re = $160 - $12/10% = $160 - $120 = $40
the market is paying $40 for the company's growth opportunity
How can organisations handle debtors?
Organizations handle debtors by using various legal and ethical practices such as maintaining accurate records and setting payment terms etc.
Establishing precise payment terms, keeping accurate records, sending timely reminders, providing payment plans and working with debt collection agencies are all ways that businesses can manage their debtors. Organizations can assist in preventing past due payments by establishing clear payment terms and ensuring that debtors understand these terms.
Maintaining accurate records and sending reminders on a regular basis can also assist debtors in keeping up with their payments. Offering payment plans to customers who are having trouble making their payments can be helpful and working with a debt collection agency can help businesses collect past due debts more effectively.
When managing debtors it is crucial for businesses to adhere to legal and moral standards and to treat debtors with professionalism.
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When you're single, it's important to have an ________
1. Extra emergency fund
2. Accountability partner
3. Extra $200 for fun things
4.Best friend
When you're single, it's important to have a Best friend. Thus the correct option is the last one.
What is a Friend?A friend is referred to as an individual who is considered a companion apart from the blood relations of an individual. These are the people which are introduced by an individual based on likes and dislikes.
A friend is someone to whom one care shared their secret, problems, and happiness, without getting fear of being judged. He is the person who helps us in difficult times with their precious advice.
When an individual is single, it is important to have a best friend so that one can share their loneliness and can spend good times with them in order to avoid negativity and bring positivity and growth in one's life.
Therefore, option Last is appropriate.
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Question 4 (2 points) Which component of the policyholder's coverage is most expensive? Their uninsured motor vehicle coverage Their medical payments coverage Their liability coverage Their collision coverage
Their medical payments coverage
Explain how each of the following events would affect the equilibrium price and quantity of new textbooks. (Explain which curve(s) would shift and in which direction(s).)
The events that would affect the equilibrium price and quantity of new textbooks include changes in production costs, shifts in student enrollment, changes in government policies etc.
How do these events impact the equilibrium price and quantity?The changes in production costs will shift the supply curve of new textbooks. If production costs increase, the supply curve would shift to the left resulting in decrease in the equilibrium quantity and an increase in the equilibrium price.
But if production costs decrease, the supply curve would shift to the right leading to an increase in the equilibrium quantity and a decrease in the equilibrium price of new textbooks.
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Identify the type of production process that is most applicable for a company that makes soft drinks. A. Assembly line B. Continuous flow C. Batch shop D. Job shop E. Project
Answer:
B. Continuous flow
Explanation:
The Continuous flow production process should be applied for manufacturing the products in the continuous product without any breakage. It also saves the money, time and the cost related to the labor
It is considered to the most applicable process for the soft drinks as each and every ingredients is to be added for each line of the process
Therefore as per the given situation, the option b is correct
Garcia Company has 10,500 units of its product that were produced last year at a total cost of $157,500. The units were damaged in a rainstorm because the warehouse where they were stored developed a leak in the roof. Garcia can sell the units as is for $2 each or it can repair the units at a total cost of $18,500 and then sell them for $6 each. Calculate the incremental net income if the units are repaired
oligopolists are tempted to produce more thn the quantity that would maximize industry profits because when they increase output
That would maximize industry profits because when they increase output the price effect is spread across multiple firms.
Who are oligopolists?
There are just a few businesses in an oligopoly market structure, and none of them can stop the others from having a significant influence. The concentration ratio is used to determine the market share of the largest corporations.
A monopoly market has only one producer, a duopoly market has two companies, and an oligopoly market has three or more companies. Unknown is the maximum number of firms that may exist in an oligopoly, but it must be few enough for each firm's operations to significantly affect those of the others.
Oligopolies have occurred in the past in a variety of industries, including steel, oil, railroads, tires, grocery store chains, and telecommunications.
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what is the solutions of differences in perception?
Which is a question associated with the saving component of financial planning?
Question 12 options:
Do you have an adequate emergency fund?
Is your investment program appropriate to your income and tax situation?
Do you have a realistic budget for your current financial situation?
Are your transportation expenses minimized through careful planning?
HELP ASAP PLEASEEE
Answer:
do you have an emergency fund.
what means liability
Answer:
the amount of money that a person or company owes
Economics
Many manufacturing companies are investing in robots to complete the work traditionally done by employees. How would this have an impact on the companies' fixed and variable costs?
Investment in robots will increase the fixed cost and reduce the variable cost.
What is the impact on fixed and variable cost?
Fixed cost is the cost that remains constant regardless of the level of output. Variable cost is the cost that is determinant on the level of output. It increases with the level of output.
Investment in robots would be expensive for the firm. This would increase the fixed cost but cost of using the robots do not depend on their output. Thus variable cost will be reduced.
On the other hand, using employees would reduce fixed cost and increase the variable cost. Employees are usually paid based on their level of output. This would increase the variable cost. There is little or no upfront cost required with employing labor. Thus fixed cost is low.
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The purchase of a house, property, or land is called a
OA. money market
B. real estate
C. pooled
D. hedge fund
investment.
Answer:
it is real estate which is
Explanation:
Real estate is defined as the land and any permanent structures, like a home, or improvements attached to the land, whether natural or man-made. Real estate is a form of real property
B. real estate
The purchase of a house, property, or land is called real estate. Real estate refers to land and any physical property or improvements affixed to the land, such as houses, buildings, fences, and bridges. The term is commonly used in the context of buying, selling, or renting properties for residential, commercial, or industrial use. Therefore, option B is the correct answer. Options A, C, and D do not accurately describe the purchase of real estate.
leearning task 1 give the examples of technology
Technology continues to evolve and shape our lives, transforming industries, and opening up new possibilities for innovation and growth.
Technology encompasses a wide range of tools, systems, and applications that are designed to improve efficiency, productivity, and communication in various fields. Here are some examples of technology in different areas:
1. Information Technology (IT): Examples include computers, laptops, servers, networking equipment, software applications, operating systems, databases, cloud computing, cybersecurity systems, and data storage devices.
2. Communication Technology: Examples include smartphones, landline phones, video conferencing systems, email platforms, instant messaging applications, social media platforms, VoIP (Voice over Internet Protocol) systems, and telecommunications infrastructure.
3. Transportation Technology: Examples include automobiles, airplanes, trains, ships, electric vehicles, GPS navigation systems, traffic management systems, logistics and supply chain software, and autonomous vehicles.
4. Medical Technology: Examples include medical imaging devices (X-rays, MRI machines, CT scanners), electronic health records (EHR) systems, robotic surgery systems, telemedicine platforms, wearable health monitoring devices, and medical research equipment.
5. Educational Technology: Examples include interactive whiteboards, online learning platforms, educational software, e-books, virtual reality (VR) and augmented reality (AR) tools for learning, student management systems, and distance learning platforms.
6. Renewable Energy Technology: Examples include solar panels, wind turbines, hydroelectric power systems, geothermal energy systems, biomass energy systems, energy storage solutions, and smart grid technologies.
7. Agricultural Technology: Examples include precision farming tools, automated irrigation systems, drones for crop monitoring, livestock tracking systems, genetic engineering and biotechnology in agriculture, and farm management software.
8. Entertainment Technology: Examples include streaming services, gaming consoles, virtual reality (VR) headsets, smart TVs, home theater systems, digital music players, and video editing software.
9. Financial Technology (Fintech): Examples include mobile banking apps, digital payment platforms, cryptocurrency systems, robo-advisors, online lending platforms, and blockchain technology.
10. Manufacturing Technology: Examples include robotics and automation systems, 3D printers, CNC machines, computer-aided design (CAD) software, inventory management systems, and quality control systems.
These are just a few examples of the vast array of technologies that exist today. Technology continues to evolve and shape our lives, transforming industries, and opening up new possibilities for innovation and growth.
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purchased goods of rs 40000 journal entries
The journal entry for Rs. 40, 000 purchases would include a debit to purchases and credit to cash or accounts payable.
How to enter the journal ?The Purchases account is debited because the business has acquired goods, which is an asset. The Accounts Payable account is credited because the business owes money to the supplier for the goods.
Date Account title Debit Credit
XX -XXXX Purchases Rs. 40, 000
Accounts payable Rs. 40, 000
This journal entry will increase the balance of the Purchases account and the Accounts Payable account. The Purchases account will be used to track the cost of goods sold, and the Accounts Payable account will be used to track the amount of money owed to suppliers.
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On December 27, 2020, Roberta purchased four tickets to a charity ball sponsored by the city of San Diego for the benefit of underprivileged children. Each ticket cost $200 and had a fair market value of $35. On the same day as the purchase, Roberta gave the tickets to the minister of her church for personal use by his family. At the time of the gift of the tickets, Roberta pledged $4,000 to the building fund of her church. The pledge was satisfied by a check dated December 31, 2020, but not mailed until January 3, 2021.
Requried:
a. Presuming that Roberta is a cash basis and calendar year taxpayer, how much can she deduct as a charitable contribution for 2020?
b. Would the amount of the deduction be any different if Roberta was an accrual basis taxpayer? Explain.
Answer:
a. Presuming that Roberta is a cash basis and calendar year taxpayer, how much can she deduct as a charitable contribution for 2020?
Roberta can deduct ($200 x 4) - ($35 x 4) = $800 - $140 = $660. She cannot deduct the check because it was not mailed before December 31.
b. Would the amount of the deduction be any different if Roberta was an accrual basis taxpayer? Explain.
As an accrual taxpayer, she could deduct $660 + $4,000 = $4,660. She had already written the check and the fact that it was mailed on January 3 doesn't make a difference for an accrual taxpayer.
As financial controller at a manufacturing company, you have been advised by a colleague that the sales director is unlawfully declaring fuel benefits as the tax value is high. This has been creating higher profit margins and if declared those margins will go down. There is potential that this could push the company into insolvency, which would result in job losses for 300 employees. You have made the other directors aware of the situation but they have expressed a wish not to disclose the misleading tax bill. You are aware that by declaring this information to the tax authorities, as required by law, that the organization may have to declare insolvency and those 300 employees could lose their jobs. What would you do?
Answer:
so many words i cant understand the of it
As the financial controller facing this ethical and legal dilemma, here's a course of action you could consider below:
What would you do?Seek advice from legal professionals to fully understand the legal implications of not reporting the accurate tax information. This will help you make informed decisions based on the law and potential consequences.
Keep thorough records of your interactions, discussions, and decisions related to this matter. Documentation will be crucial if any legal or ethical issues arise later.
Engage in open and honest discussions with the other directors, emphasizing the potential legal and ethical ramifications of not reporting accurate tax information. Stress the importance of transparency and compliance with the law.
Explore alternative ways to address the issue without causing potential insolvency. This could include discussing options with tax authorities, seeking professional advice on managing tax liabilities, or making changes to the company's financial strategy.
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Present and future value tables of $1 at 3% are presented below:
N FV $1 PV $1 FVA $1 PVA $1 FVAD $1 PVAD $1
1 1.03000 0.97087 1.0000 0.97087 1.0300 1.00000
2 1.06090 0.94260 2.0300 1.91347 2.0909 1.97087
3 1.09273 0.91514 3.0909 2.82861 3.1836 2.91347
4 1.12551 0.88849 4.1836 3.71710 4.3091 3.82861
5 1.15927 0.86261 5.3091 4.57971 5.4684 4.71710
6 1.19405 0.83748 6.4684 5.41719 6.6625 5.57971
7 1.22987 0.81309 7.6625 6.23028 7.8923 6.41719
8 1.26677 0.78941 8.8923 7.01969 9.1591 7.23028
9 1.30477 0.76642 10.1591 7.78611 10.4639 8.01969
10 1.34392 0.74409 11.4639 8.53020 11.8078 8.78611
11 1.38423 0.72242 12.8078 9.25262 13.1920 9.53020
12 1.42576 0.70138 14.1920 9.95400 14.6178 10.25262
13 1.46853 0.68095 15.6178 10.63496 16.0863 10.95400
14 1.51259 0.66112 17.0863 11.29607 17.5989 11.63496
15 1.55797 0.64186 18.5989 11.93794 19.1569 12.29607
16 1.60471 0.62317 20.1569 12.56110 20.7616 12.93794
At the end of each quarter, Patti deposits $2,200 into an account that pays 12% interest compounded quarterly. How much will Patti have in the account in 4 years?
a. $31,060.
b. $29,551.
c. $30,532.
d. $29,803.
Based on the amount being deposited, Patti will have a total of $44,345.18 after 4 years.
Patti is depositing a specific amount every month so this is an annuity.
First we have to convert the interest rate and period to quarterly basis as this is the period of compounding.
12%/4 = 3% per quarter
Period = 4 x 4 = 16 quarters
The value of this investment after 4 years is:
Future value of Annuity = Annuity x FVA,16 periods, 3%
= 2,200 x 20.1569
= $44,345.18
In conclusion, Patti will have $44,345.18 in 4 years.
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How important is a business plan?
Answer:
Hey mate.....
Explanation:
This is ur answer.....
Whether you're starting a small business or exploring ways to expand an existing one, a business plan is an important tool to help guide your decisions. Think of it as a roadmap to success, providing greater clarity on all aspects of your business, from marketing and finance to operations and product/service details.
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Answer: Hewo, There! your Answer is Below
A business plan is a very important and strategic tool for entrepreneurs.
the purpose of a business plan is to help articulate a strategy for starting your business.
Explanation:
Hope this Helps you!!
Have a great day!!
A good business plan not only helps entrepreneurs focus on the specific steps necessary for them to make business ideas succeed
Assume a company is considering whether to accept or reject a special order opportunity to sell a customer 300 units of a slightly customized version of one of its products for $38.25. The normal selling price of this product is $48 per unit. It can fulfill the order using existing manufacturing capacity. The company’s accounting system estimates the following unit product cost for this product: Per Unit Direct materials $ 18 Direct labor 12 Manufacturing overhead 10 Total cost $ 40 The company estimates that $3 of its manufacturing overhead varies with respect to the number of units produced. The remainder of its overhead is fixed and unaffected by the volume of units produced within the relevant range. Assuming that this decision will have no effect on sales to other customers, what is the financial advantage (disadvantage) of accepting the special order?
The financial advantage the company gains by accepting the special order of 300 units is $1,575.
Data and Calculations:
Units of sales for special order = 300 units
The unit price for the special order = $38.25
Normal selling price per unit = $48
Estimated unit product cost:
Direct materials $ 18
Direct labor 12
Manufacturing overhead 10
Total cost $ 40
Variable manufacturing overhead = $3
Fixed manufacturing overhead = $7 ($10 -$3)
Total relevant cost = $33 ($18 + $12 + $3)
The per unit financial advantage of accepting the special order = $5.25 ($38.25 - $33)
Thus, the financial advantage accruing to the company for accepting the special order of 300 units is $1,575 (300 x $5.25).
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During civil lawsuit, proceedings regarding alcohol, service courts will try to determine if the
During civil lawsuit proceedings regarding alcohol service, courts will try to determine if the designated driver was present and remained sober.
How do courts determine the presence and sobriety?During civil lawsuit proceedings involving alcohol service, courts aim to establish whether a designated driver was present and this determination is crucial in cases where establishments or individuals are being held accountable for over-serving alcohol to a patron who later caused harm or injury due to impaired driving.
The court may consider various forms of evidence such as witness testimonies, surveillance footage, receipts indicating non-alcoholic purchases or the designated driver's own account of their sobriety. It court may evaluate the credibility and reliability of the designated driver's actions and statements throughout the relevant time period.
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What is the US Central Bank (Fed) focusing on right now? Present their main activities.
Answer:
It is focusing on looking over financial system risks and engages at home or abroad to help insure that the system stays healthy for the ecomomey, basically for households in the U.S., communities, as well as businesses in the U.S..
During 2015, Maverick Inc. became involved in a tax dispute with the government. Maverick’s attorneys have indicated that they believe it is probable that Maverick will lose this dispute. They also believe that Maverick will have to pay the government between €800,000 and €1,400,000. After the 2015 financial statements were issued, the case was settled with the government for €1,200,000. What amount, if any, should be reported as a liability for this tax dispute as of December 31, 2015?
1. In the first case a provision should be created for €1,200,000 as it was probably on December 31, 2015, that the company might have to pay damages. The amount to be paid turned out to be within the limits and so a provision needs to be created in financial statements.
What is Damages and Compensation?Damages, a form of financial restitution, are given to individuals as reimbursement for harm or losses incurred as a direct result of the careless inactions or blatant negligence displayed by another party.
This payment serves to aid the victim with regaining their losses and ease any distress caused by the incident.
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The Doha Round of negotiations focuses on industrial and nontariff barriers, agriculture, services, and easing trade rules.
a. True
b. False
Answer:
True.
Explanation:
The Doha Round of negotiations focuses on industrial and non-tariff barriers, agriculture, services, and easing trade rules. It is a trade negotiation which is common among the world trade organizations (WTO) member countries. The main purpose of the Doha Round of negotiations is to enhance the international trading process through the application of revised trade rules and lower trade barriers.
This trade-negotiation round of the World Trade Organization was officially launched in November, 2001 in Doha, Qatar.
Assessment question #8
Which statement would be appropriate when performing testing over a deferred (temporary difference) balance?
Answer the question, then select Confirm
A. The deferred balance related to the bad debt provision agrees directly to the trial balance, so no further testing would be deemed
necessary.
B. The deferred balance related to accrued salaries and wages agree directly to the trial balance, so no further testing would be
deemed necessary.
C. The deferred balance related to depreciation agrees directly to the trial balance, so not further testing would be deemed
necessary.
D. The deferred balance related to goodwill agrees directly to the trial balance, so no further testing is deemed necessary.
Confirm
The statement that would be appropriate when performing testing over a deferred or the temporary difference balance will be C. The deferred balance related to depreciation agrees directly to the trial balance, so not further testing would be deemed necessary.
What is a deferred balance?The whole amount of the income statement effect is represented by the deferred tax balance on the balance sheet. In the temporary difference approach, the difference between the tax base and asset's accounting carrying value is used to determine the deferred tax balance.
By contrasting the carrying value of an asset or liability with its tax base, the temporary difference arising in respect of that asset or liability is determined. Temporary discrepancies that are taxable result in deferred tax liabilities
In this case, when performing testing over a deferred or the temporary difference balance will be that the deferred balance related to depreciation agrees directly to the trial balance, so not further testing would be deemed necessary.
In conclusion, the correct option is C.
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Marjorie Knaus, an architect, organized Knaus Architects on January 1, 20Y4. During the month, Knaus Architects completed the following transactions:
Recording transaction is a basic accounting process, with a few steps involved. The first step is to determine the transaction and which accounts it will affect. The second step is recording in the particular accounts. Consideration must be taken when numbers are inputted into the debit and credit sections.
According to T-accounts:
Cash
Account Titles Debit Credit
Common stock A. $30,000
Rent Expense B. $2,500
Automobiles, Equipment C. 6,000
Supplies E. 2,100
Prepaid Insurance F. 3,600
Accounts Receivable G. 9,000
Miscellaneous Expenses H. 2,600
Accounts Payable I. 4,000
Notes Payable J. 1,875
Salary Expense M. 6,000
Automobiles Expense N. 1,300
The Balance is $9,025
Now the Total is $39,000 $39,000
Accounts Receivable
Account Titles Debit Credit
Cash G. $9,000
Professional Fees L. 31,400
Balance $22,400
Supplies
Account Titles Debit Credit
Cash E. $2,100
Prepaid Insurance
Account Titles Debit Credit
Cash F. $3,600
Automobiles, Equipment
Account Titles Debit Credit
Notes Payable C. $22,500
Cash C. 6,000
Accounts Payable D. 8,000
Balance $36,500
Notes Payable
Account Titles Debit Credit
Automobiles, Equipment C. $22,500
Cash J. $1,875
Balance $20,625
Accounts Payable
Account Titles Debit Credit
Automobiles, Equipment D. $8,000
Cash I. $4,000
Blueprint Expense K. 5,500
Balance $9,500
Common Stock
Account Titles Debit Credit
Cash A. $30,000
Professional Fees
Account Titles Debit Credit
Accounts Receivable L. $31,400
Salary Expense
Account Titles Debit Credit
Cash M. $6,000
Blueprint Expense
Account Titles Debit Credit
Accounts Payable K. $5,500
Rent Expense
Account Titles Debit Credit
Cash B. $2,500
Automobile Expense
Account Titles Debit Credit
Cash N. $1,300
Miscellaneous Expense
Account Titles Debit Credit
Cash H. $2,600
Trial Balance
As of January 31, 2018:Account Titles Debit Credit
Cash $9,025
Accounts receivable 22,400
Supplies 2,100
Prepaid Insurance 3,600
Automobiles, Equipment 36,500
Notes Payable $20,625
Accounts Payable 9,500
Common Stock 30,000
Professional Fees 31,400
Salary Expense 6,000
Blueprint Expense 5,500
Rent Expense 2,500
Automobiles Expense 1,300
Miscellaneous Expense 2,600
Totals $91,525 $91,525
Data and Transaction Analysis:A. Cash $30,000 Common Stock
B. Rent Expense $2,500 Cash $2,500
C. Automobiles, Equipment $28,500 Cash $6,000 Notes Payable $22,500
D. Automobiles, Equipment $8,000 Accounts Payable $8,000
E. Supplies $2,100 Cash $2,100
F. Prepaid Insurance $3,600 Cash $3,600
G. Cash $9,000 Accounts Receivable $9,000
H. Miscellaneous expenses, $2,600 Cash $2,600
I. Accounts Payable $4,000 Cash $4,000
J. Notes Payable $1,875 Cash $1,875
K. Blueprint Expense $5,500 Accounts Payable $5,500
L. Accounts Receivable $31,400 Professional Fees $31,400
M. Salary Expense $6,000 Cash $6,000
N. Automobiles Expense $1,300 Cash $1,300
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https://brainly.com/question/14670286#SPJ9Which of the items below are the most common macroeconomic policy goals? Categorize each item based on whether or not it is a primary goal of macroeconomic policy. Primary macroeconomic policy goal Not a primary goal Help set the optimal price for a pound of peaches at the local grocery store Calculate how much urban residents Low unemployment are willing to pay to protect biodiversity Growth in the standard of living Eliminating political conflict Low inflation
Macroeconomics deals with issues, goals, and policies that affect the entire economy. All economic analysis relating to aggregates is macro. UK unemployment rate, inflation rate, and UK economic growth; are all UK aggregates and therefore macro issues.
The main objectives are:
Full employment Price stability Rapid but sustainable Economic growth Payment picture.The goal of full-time employment is practically written in history books. Thus, "full employment does not mean that everyone has a job". Even in the era of full employment in the 1950s, there were still 300,000 unemployed. The main goals of macroeconomics are stable economic growth and maximization of the standard of living.
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Question No.1
Suppose XYZ is a coffee shop and located in one of the busy crowded university of Pakistan. This coffee shop is a popular spot for people to sit and discuss their studies and it is also famous for a quick cup of coffee on their way to class. The shop is open from 9:00 AM to 6:00 PM, Monday through Friday. The shop is currently selling 2,000 cups of coffee per day for Rs 200. The owner of the coffee shop is considering raising the price of a cup of coffee from Rs. 200 to Rs. 250. Coffee shop demand function is given below:
= 6000 − 20
A. Calculate price elasticity of demand when price is Rs. 250.
The price elasticity of demand when the price is Rs. 250 is -2. This means that a 1% increase in price would result in a 2% decrease in quantity demanded.
To calculate the price elasticity of demand when the price is Rs. 250, we need to use the given demand function and the formula for price elasticity of demand:
Elasticity of Demand = (% Change in Quantity Demanded) / (% Change in Price)
First, we need to determine the initial quantity demanded at the current price of Rs. 200. Plugging the price into the demand function:
Q1 = 6000 - 20(200)
Q1 = 6000 - 4000
Q1 = 2000
The initial quantity demanded (Q1) is 2000 cups of coffee per day.
Next, we need to calculate the new quantity demanded when the price is increased to Rs. 250. Plugging the new price into the demand function:
Q2 = 6000 - 20(250)
Q2 = 6000 - 5000
Q2 = 1000
The new quantity demanded (Q2) is 1000 cups of coffee per day.
Now, we can calculate the percentage change in quantity demanded:
% Change in Quantity Demanded = ((Q2 - Q1) / Q1) * 100
% Change in Quantity Demanded = ((1000 - 2000) / 2000) * 100
% Change in Quantity Demanded = (-1000 / 2000) * 100
% Change in Quantity Demanded = -50%
Next, we calculate the percentage change in price:
% Change in Price = ((New Price - Initial Price) / Initial Price) * 100
% Change in Price = ((250 - 200) / 200) * 100
% Change in Price = (50 / 200) * 100
% Change in Price = 25%
Finally, we can calculate the price elasticity of demand:
Elasticity of Demand = (% Change in Quantity Demanded) / (% Change in Price)
Elasticity of Demand = (-50% / 25%)
Elasticity of Demand = -2
The demand for coffee at this price is relatively elastic, indicating that consumers are sensitive to price changes.
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10. What is the first step in analyzing a business process?
Answer:
Analysis methods
Business process analysis consists of 6-steps:
Identify and define your goals
Identify the process to be analyzed
Collect information
Map out the process
Analyze the process
Identify the potential for business process improvement