Requiring employees to take extended vacations enhances internal controls because it is more difficult to hide fraud .
An employee is a person who is paid to work for an individual or company. A worker does not have to work full time to be considered an employee. You just need to be paid for your work by your employer (the person or company that pays your salary).
The definition of an employee is someone who works for another person or company for wages or other agreed remuneration. An example of an employee is someone employed by McDonald's who is paid a fixed amount for each hour worked.
You should take care of your employees as much as you take care of your customers. If you trust and value your employees, they will be more committed to serving your customers well and ultimately contributing to your company in a great way.
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Which statement is true? A savings plan and a budget don't really have anything to do with eachother. It doesn't do much do much good to have a savings plan if you dont know how to budget you money.
Answer: It doesn't do much do much good to have a savings plan if you dont know how to budget you money.
Explanation:
Budgeting and saving go hand in hand because budgeting enables us know what amount of our money we can save after spending on what we need to maintain our lifestyle.
If we don't have a budget or know how to budget our money, we will not know the amount to put towards a savings plan and if we start a savings plan without budgeting, we might end up in a situation where we have to withdraw from the savings constantly in order to meet our financial obligations.
On December 1, 2021, Carlos entered into a lease on a building for use in his business for $1,000 per month. Under the lease terms, Carlos pays 18 months’ rent ($18,000) in advance on December 1. How much can Carlos deduct for rent in 2021?
a. $12,000
b. $18,000
c. $1,000
d. $13,000
The amount that Carlos can deduct for rent in the year 2021, based on his annual rent is c.$1,000.
Rent in 2021When recording rent, you can only record it for the period that the financial statement is for.
The rent given is for 18 months from December 2021 which means that it will be for only a single month in December.
The rent will therefore be a rental amount for a month:
= Rental amount / Number of months
= $18,000 / 18
= $1,000
In conclusion, option C is correct.
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When making decisions, managers often must decide between doing what is beneficial for the firm in the short term, and what is beneficial for both the firm and society in the long term. To address this conflict, a firm must
When making decisions, managers are often faced with a conflict between what is beneficial for the firm in the short-term and what is beneficial for both the firm and society in the long-term.
This conflict arises because the actions that benefit the firm in the short-term may not necessarily align with the interests of society as a whole, which can lead to negative consequences for both the company and society in the long-term.
To address this conflict, a firm must adopt a long-term orientation and consider the broader social and environmental impacts of its decisions. This means looking beyond immediate financial gains and recognizing that actions taken today can have far-reaching implications for the company's reputation, customer loyalty, employee morale, and overall sustainability.
Firms that prioritize social responsibility and sustainable business practices are more likely to build strong relationships with stakeholders, including customers, employees, investors, and regulators. They are also better equipped to weather economic downturns and other disruptions, as they have diversified their risk and invested in building resilient supply chains and communities.
Ultimately, the key to addressing the conflict between short-term gains and long-term benefits is a commitment to corporate social responsibility (CSR) and sustainable business practices. By prioritizing the needs of society and the environment alongside those of shareholders, firms can create value for all stakeholders over the long-term, ensuring their continued success and impact.
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ESTIMATING COSTS
ACTIVITY 1- Scenario: Margaret has recently opened up her own
Beauty Salon in Abu Dhabi. She has been operating for the last 6
months as a sole trader.
List Margaret's costs for her business below:
Fast plz
Answer:
Opening your own hair salon is a milestone for any hairdresser. You may be wanting to open a salon so that you are self-employed. You may also be wanting to provide your own clients with services that align with your vision of what a hairdressing experience should be. However, opening a hairdressing salon is a big responsibility, even if you have previous experience in the hairdressing industry.
One of the most important things you will need to consider when planning to open a hairdressing salon is how to structure your business. Your business structure is the legal framework of your business. It has the potential to reduce your exposure to financial risk and enable flexibility for growth. The wrong business structure for a new business may be costly and may not be suited to your business goals. This article considers four popular business structures and their suitability for hairdressing businesses.
1. Sole Trader
If you are starting a hairdressing salon on your own or are wanting to freelance, you may choose to operate as a sole trader. As a sole trader, you will have full control and autonomy of the running your business. This structure is usually relatively easy and cheap to set up. It also has minimal legal formalities.
To set up as a sole trader, you will need an Australian Business Number (ABN). If you intend to trade under your own name, then you don’t need to register a business name. However, if you plan to operate under a different name, you simply need to register a business name with the Australian Securities and Investments Commission (ASIC).
Although it has an easy setup, this structure does come with risk. If any of your clients sue you or you incur any debts, you will be personally responsible. This means that if you can not repay these debts from the funds of the business, you will have the repay the debt from your own personal finances.
Also, as a sole trader, you have limited resources available to fund the growth of your business. You will need to rely on:
personal savings;
loans; and
business profits.
You cannot raise funds from the general public. Being a sole trader may also not be the most tax-effective decision. This is because a sole trader is liable to the same tax rate applicable to individual taxpayers on income earned. You should check this with an accountant or tax lawyer.
2. Partnership
If you plan to open your hairdressing salon with one or more business partners, you may choose to enter into a partnership. Similar to a sole trader, the setup is simple and has minimal upfront costs. You will require an ABN for the partnership and most partnerships also register a business name.
It is also important for the partners to enter into a partnership agreement. This agreement governs the relationship between partners and sets out key terms, which may describe:
how the business will be managed;
how the profits will be shared;
who will fund the partnership;
how you or your partners can sell your share in the business; and
the process for managing disputes.
However, setting up a partnership also comes with risks. Like a sole trader, if someone sues you or you go into debt, your personal assets and finances will be at risk.
Additionally, partnerships involve joint liability. Therefore, you may be personally liable for business debts owed by any of the other partners. The amount owed is not divided proportionally according to your percentage of ownership in the business, so you could be responsible for paying the entire amount.
Like a sole trader, you cannot raise funds from the general public to fund the growth of your business. You will need to rely on:
the savings of each partner;
loans; or
business profits.
However, unlike a sole trader, you can look to bring on more partners to increase the pool of funds available for the business.
3. Company
Whether you are operating your hairdressing salon on your own or with other business partners, you may decide to operate as a company. A company is a separate legal entity. This means it is capable of suing and being sued. It also holds assets in its own name and can enter into contracts in its own name.
There are two key players involved in the management of a company. These are shareholders and directors. As the founder of your business, you will usually be both a shareholder and a director of the company that you establish. Any other business partners may also take on these roles.
hope it helps
Based on the graph shown above, which of the following is the equallibrium quantity and price at which the compony should sell the truck
Based on the graph shown above, the following is the equilibrium quantity and price at which the company should sell the truck: option B. 300 trucks at $6 per truck
What is an equilibrium quantity and price?In economics, an equilibrium quantity and price refers to a state in which the quantity of a good or service that a seller is willing to supply is equal to the quantity that a buyer is willing to demand, and the price at which this transaction occurs is the equilibrium price. This is also known as market equilibrium.
At the equilibrium price, there is no surplus or shortage of the good or service, and the market is said to be in balance. If the price is higher than the equilibrium price, there will be a surplus of the good or service, and if the price is lower than the equilibrium price, there will be a shortage.
The equilibrium quantity and price are determined by the interaction of supply and demand in a market. When the supply and demand curves intersect, the equilibrium quantity and price are established.
Therefore, the correct answer is as given above
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The complete question goes thus:
A toy company created a new truck to offer to consumers.
Based on the graph shown above, which of the following is the equilibrium quantity and price at which the company should sell the truck?
A. 200 trucks at $8 per truck
B. 300 trucks at $6 per truck
C. 400 trucks at $8 per truck
D. 200 trucks at $4 per truck
Why doesn't the Lorax do anything to stop the Once-ler (hint: he's a symbol)? What does this tell us
about the future of business decisions?
Answer:
The Lorax is a symbol of environmental consciousness and his inaction in stopping the Once-ler represents the failure of society to prioritize the environment over economic growth. This tells us that if we do not take steps to balance economic growth and environmental sustainability, it could lead to long-term negative consequences for the environment and future business decisions.
Explanation:
The Lorax is a children's book by Dr. Seuss that explores the environmental impact of economic growth and consumerism. In the story, the Once-ler begins cutting down Truffula trees to make a product called Thneeds, despite the warnings of the Lorax, who speaks for the trees and the animals that depend on them.
The Lorax represents environmental consciousness and his inaction in stopping the Once-ler represents the failure of society to prioritize the environment over economic growth. The Once-ler's actions are driven by his desire for profit, and he continues to cut down trees despite the negative impact it has on the environment. The Lorax, as a symbol of environmental awareness, is unable to stop the Once-ler from destroying the ecosystem, which ultimately leads to the disappearance of the Truffula trees and the animals that depend on them.
This lack of balance between economic growth and environmental sustainability is a lesson that has implications for future business decisions. If businesses prioritize profit over environmental sustainability, it could lead to long-term negative consequences for the environment, which could ultimately harm the economic viability of those businesses. It is important for businesses to consider the environmental impact of their decisions and take steps to balance economic growth and sustainability for the long-term health of the environment and economy.
a firm had purchases of $10,000, freight charges of $1,100, and purchases returns and allowances of $2,400 during one month. its net delivered cost of purchases was:
The net delivered cost of purchases for the firm during the month is $9,700.
To calculate the net delivered cost of purchases, we need to subtract the purchases returns and allowances from the total purchases and add the freight charges. Purchases = $10,000
Freight charges = $1,100
Purchases returns and allowances = $2,400
Net Delivered Cost of Purchases = Purchases - Purchases returns and allowances + Freight charges
Substituting the values into the formula:
Net Delivered Cost of Purchases = $10,000 - $2,400 + $1,100
Calculating the expression:
Net Delivered Cosnumerical t of Purchases = $10,000 - $2,400 + $1,100
Net Delivered Cost of Purchases = $8,600 + $1,100
Net Delivered Cost of Purchases = $9,700
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If the capital budgeting decision includes a replacement analysis, then A. a gain from the sale of the old asset will represent a tax savings inflow. B. only incremental cash flows should be considered. C. the sale price and tax savings will increase the cash inflows throughout the asset's life. D. net present value can no longer be measured in replacement analysis.
If the capital budgeting decision includes a replacement analysis, it is important to consider the cash flows associated with replacing the old asset with a new one. Option B.
In this case, only incremental cash flows should be considered, as these represent the additional costs and benefits that arise as a result of the replacement decision. While the gain from the sale of the old asset may represent a tax savings inflow, it is important to note that this inflow should be considered separately from the incremental cash flows. Furthermore, the sale price and tax savings may increase the cash inflows throughout the asset's life, but again, these should be considered separately from the incremental cash flows. Despite these additional considerations, net present value can still be used to measure the economic value of the replacement decision. Option B.
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Which of the following is true of money market instruments?
a)Their yields are highly correlated over time.
b)They typically sell for par value when they are initially issued (especially T-bills and commercial paper).
c)Treasury bills have the highest yield.
d)They all make periodic coupon (interest) payments.
e)A and B
The statement that is true of money market instruments is: e)A and B.
What is money market?a) The returns on money market instruments often move in lockstep with one another and with market interest rates, making them widely regarded as low-risk investments.
b) Treasury bills and commercial paper are examples of money market products that are often issued and sold at their face value (par value), and investors can buy them directly from the issuer.
Therefore the correct option is e.
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The most common type of two-year college is called a(n):
O A. trade college.
B. liberal arts college.
C. community college.
O D. apprenticeship college.
Answer:
c.
Explanation:
just took the test
Please help worth bonus points!
Answer:
the 4th and 5th one is for france
Explanation:
this is done in france France, it is called french silver service, it's a method of food service at the table, it's known as à l'anglaise (English service)
4=the staff utilizes platters to serve cooked food
5=the last one
1= america, the first one.
2=Russia
3=russia
if I got anything mixed up, pls inform me.
Consider a bond with maturity 2 year, 100 face value, coupon 4.60%, and yield 7.00%. compute a dollar duration numerically using a dy =0.001%. report you result with two digits decimal accuracy and the correct sign. example: -185.95
The dollar term for security with developing long term, 100 presumptive worth, coupon 4.60%, and yield at 7% is - 0.00174785.
Presently, we should compute the dollar span of this bond.
Security cost at yield 7% = (coupon rate/1 + yield rate) + (coupon rate + 100)/(1 + yield rate) ^2
= 4.6/1.07 + 4.6 + 100/1.07^2
= 4.29906542 + 91.36169098
= 95.6607564
note : with dy = 0.001%, new yield = 7.001%
New security cost with a new yield of 7.001%
= (coupon rate/1 + new yield rate) + (coupon rate + 100)/(1 + new yield rate) ^2
= 4.6/1.07001 + (4.6 + 100)/1.07001^2
= 4.29902524 + 91.35998331
= 95.65900855
Consequently, the dollar span for this bond is = 95.65900855 - 95.6607564
= - 0.00174785.
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PLS HELPPP!!! FASTTT!!! A firm has three different investment options. Option A will give the firm $10 million at the end of one year, $10 million at the end of two years, and $10 million at the end of three years. Option B will give the firm $15 million at the end of one year, $10 million at the end of two years, and $5 million at the end of three years. Option C will give the firm $30 million at the end of one year, and nothing thereafter. Which of these options has the highest present value?
a. Option A
b. Option B
c. Option C
d. The answer depends on the rate of interest, which is not specified here.
Answer:
i would say d
Explanation:
how does lever simplify the work? explain.
Explanation:
A lever works by reducing the amount of force needed to move an object or lift a load. A lever does this by increasing the distance through which the force acts. ... Instead, they make the work easier by spreading out the effort over a longer distance.
ACTIVITY 2.
Identify and explain briefly the question below
1 What are the 4P's in marketing plan?Explain each
А__________
B__________
С__________
D__________
Answer:
A. Product
B. Price.
C. Place.
D. Promotion.
Explanation:
Marketing plan can be defined as the choices about product attributes, pricing, distribution, and communication strategy that a company blends and offer its targeted markets (customers) so as to build and maintain a desired response.
Generally, a marketing plan is made up of the four (4) Ps and these includes;
1. Products: this is typically the goods and services that gives satisfaction to the customer's needs and wants. They are either tangible or intangible items.
2. Price: this represents the amount of money a customer buying goods and services are willing to pay for it.
3. Place: this represents the areas of distribution of these goods and services for easier access by the potential customers.
4. Promotions: for a good sales record or in order to increase the number of people buying a product and taking services, it is very important to have a good marketing communication such as advertising, sales promotion, direct marketing etc.
If the quantity demanded at a price of $10 is 2,000 and the quantity demanded at a price of $8 is 2,400, a price-discriminating monopolist would want to:
Answer:
D. sell 2.000 units for $10 each and then sell an additional 400 units for $8 each
Explanation:
Since in the question it is mentioned that
Quantity demanded is 2,000 at a price of $10
And, the other case is
Quantity demanded is 2,400 at a price of $8
So here we can conclude that
The quantity demanded of 2,000 would be at a price of $10
And, the additional units i.e. 400 (2,400 - 2,000) would be at a price of $8
Therefore the correct option is d.
SEC Regulation Best Interest (BI) focuses on A) recommendations to customers. B) ensuring broker-dealer profitability. C) customer transaction costs. D) ensuring that customers receive the highest possible interest on their cash balances.
A) recommendations to customers, Best Interest (BI) Regulation of the SEC places a strong emphasis on customer recommendations.
As part of the Securities Exchange Act of 1934, the SEC's Regulation Best Interest (BI) establishes a "best interest" standard of conduct for broker-dealers and associated individuals when they suggest to a retail customer any securities transaction or investment strategy involving securities, including suggestions of the kinds of accounts. The SEC also enacted new regulations and forms as part of the rulemaking package that mandate that broker-dealers and investment advisors give retail investors with a concise relationship description, Form CRS. Additionally, the SEC released interpretations pertaining to the "solely incidental" prong of the broker-dealer exception from the Advisors Act and the standard of conduct for investment advisers under the Investment Advisers Act of 1940.
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How has private enterprise strengthened the united states economy?
Answer:
to generate prosperity and produce goods and services that meet people's needs and improve their lives.
Explanation:
Because businesses cannot outgrow the economy of their communities
1. Workplaces that grow plants, such as farms, nurseries, greenhouses,
gardens, and parks are part of
Plant Systems
Animal Systems
Food Products & Processing Systems
Environmental Service Systems
Answer:
Plant Systems
Explanation:
The plant system entails the science of how plants grow. It is the study of the different types of plants and how they impact our world. Gardens, farms, nurseries, greenhouses, and parks also form part of the plant's system.
Plant Systems specialists help feed the nation by monitoring our plant food quality and safety. They provide information that aids consumers in making sensible nutritional decisions.
Which term refers to the measure of the average change in prices over time in a large "basket" of goods and services purchased by Canadians?
Question 37 options:
A) the consumer price index
B) the inflation index
C) a cost of living allowance
D) a cost of living adjustment
A method for determining how prices fluctuate on average annually for a substantial "basket" of goods purchased by Canadians is the consumer price index (CPI). Option A is correct.
The CPI basket includes everything from food to clothing to housing to transportation to medical care. The inflation rate, which shows how prices have changed over time, is calculated using the CPI.
The effects of inflation on the economy are also taken into account when using the CPI. Statistics Canada uses the weighted average of prices for a representative basket of goods and services to calculate the CPI. The CPI basket is adjusted annually to reflect shifts in how people spend their money.
The inflation rate is based on the CPI for the previous 12 months, which is published monthly. Because it is used to adjust for the effects that inflation has on the economy, the Consumer Price Index (CPI) is a very important economic statistic.
There are a number of ways that inflation can hurt the economy, including making it harder for people to buy things, which can stop the economy from growing. To compensate for these effects, the CPI is used to raise wages and prices in line with inflation.
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9 a) Puncheva-Michelotti et al.’s research (2018) into using CSR to attract candidates found:
i)Companies with a poor CSR reputation often took advantage of any little gain to attract candidates
ii)Companies misrepresented their CSR reputation when advertising vacancies
iii)Companies with a great CSR reputation took little advantage of their CSR image to attract candidates
iv)Companies did not know that their CSR reputation was as high as it was
v)Companies compared their CSR reputation to other companies to attract candidates.
Puncheva-Michelotti et al.'s (2018) research on using Corporate Social Responsibility (CSR) to attract candidates revealed several interesting findings.
Firstly, the study found that companies with a poor CSR reputation tended to capitalize on any small positive aspect of their CSR activities in order to attract candidates. This suggests that these companies recognized the importance of CSR in candidate attraction and attempted to leverage even minor CSR initiatives.
Secondly, the research found instances of companies misrepresenting their CSR reputation when advertising job vacancies. This implies that some companies may exaggerate or falsely promote their CSR efforts to create a more favorable image and attract candidates.
Interestingly, the study also discovered that companies with a strong CSR reputation did not fully capitalize on their CSR image to attract candidates. This could be due to factors such as modesty, a focus on other recruitment strategies, or a belief that their CSR reputation alone was not a significant differentiating factor in candidate attraction.
The research did not indicate that companies were unaware of their high CSR reputation. However, it is possible that some companies may underestimate the positive impact of their CSR activities in attracting candidates or may not fully recognize the potential recruitment advantage it offers.
Lastly, the study revealed that some companies compared their CSR reputation to that of other companies as a means to attract candidates. By positioning themselves as having a better CSR track record compared to their competitors, these companies aimed to stand out and appeal to job seekers.
Overall, Puncheva-Michelotti et al.'s research sheds light on various strategies employed by companies regarding CSR and candidate attraction. Understanding these findings can help organizations make informed decisions about how they present and utilize their CSR reputation in the recruitment process.
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. QUESTION 1 Your Business Studies educator has requested you and your two friends to sell the following food items during break at the school tuckshop. • Pie Chips Hot cakes Bananas and apples 1.1. Develop a questionnaire with 4 items that will help you to determine various preferences from other learners. Note that your research sample should consist of the following • All grades (8-12) must be represented. Include both male and female learners. (8) 1.2. Write a report about all your findings (8)
Answer:
I don't know
Explanation:
Just because
A two year community college administrator wanted to determine that the number of print service jobs had different distributions for the year in school the student is. Which test would be used? What i
The test that would be used to determine whether the number of print service jobs had different distributions for the year in school the student is Chi-square test. This is because the chi-square goodness-of-fit test is employed to ascertain whether a sample data matches a known distribution. It is utilized to compare the observed distribution of a categorical variable to an expected distribution.
A chi-square test is used to compare the proportion of a categorical outcome between groups. It is employed when there is an association between two categorical variables in the population. In this case, it is used to examine whether the distribution of student print service jobs differs across different school years.
The chi-square test allows us to test for the association between the year in school and the frequency of print service jobs. It achieves this by comparing the observed number of print service jobs to the expected number of print service jobs for each year of school.
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Does Huck get adopted at the end?.
The Widow Douglas adopts Huck and enrolls him in school in exchange for saving her life.
Who is Huck?Based on the plot of The Adventures of Huckleberry Finn, we can see that Huck is portrayed as an uneducated and superstitious boy who is easily duped by tales of deception but is also a good judge of character.In an excerpt from Mark Twain's "The Adventures of Huckleberry Finn," the protagonist realizes that the king and duke are rascals rather than royalty, and he implies that all kings are villains. He later mentions, for example, how Henry VIII married many women and then had their heads chopped off.The Adventures of Huckleberry Finn is significant not only as a novel that explores the racial and moral world of its time, but also as an artifact due to the ongoing controversies that surround it.To learn more about Huck refer to :
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It is accurate to say that Situational Leadership II (SLII) is primarily a. Descriptive b. Prescriptive c. Well supported by research d. Trait related.
It is accurate to say that Situational Leadership II (SLII) is primarily b. Prescriptive. This leadership model provides a framework for leaders to adapt their style based on the needs of their team members
In terms of whether SLII is primarily descriptive or prescriptive, the answer is that it is both. On one hand, SLII is descriptive in that it seeks to explain how effective leaders adjust their leadership style to meet the needs of their followers. It describes four different leadership styles (Directing, Coaching, Supporting, and Delegating) and how they should be used based on the follower's development level. In this sense, SLII is an attempt to describe what effective leadership looks like.On the other hand, SLII is also prescriptive because it provides a specific framework for how leaders should adjust their leadership style based on the follower's development level. This model prescribes specific behaviors that leaders should engage in based on the readiness level of their followers. Therefore, SLII is both descriptive and prescriptive in nature.In terms of whether SLII is well-supported by research, the answer is also yes. SLII has been extensively researched and validated in numerous studies. For example, a meta-analysis of SLII studies found that leaders who used the SLII model were more effective than those who did not. Additionally, there is evidence to suggest that SLII is effective across a variety of industries and contexts.
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who perpares the design of construction? why is it important? give reasons
Answer:
Architect and engineer both prepare the design of construction.
Explanation:
It is important because it helps ti ensure that your designs are translated efficiently into an amazing final product. It is clearly that design plan is crucial to the success of any commercial construction project.
Answer:
Engineer prepares the design of instruction .It is important because, there will not be any harm after the construction to the specific architecture which you were constructing it prevents from harms like broking down the architecture because of not proper management.
write a journal post with three things you might be able to do to go to college (or any other option you are considering after high school) without student loan debt?
Answer:
You can apply for scholarships, work in high school, and receive grants.
Explanation:
You can possibly graduate college without debt or little money owed back to a bank.
The first option is a scholarship, this money is usually only offered from a range of $500-fully paid tuition. You may have to apply to hundreds before you are granted some but they are offered from freshmen in high school all the way to almost graduating college.
Your second option is working, sophomore year is when you'd be able to get a job the earliest. Every paycheck you save about 20%, work all the way through college and you can save enough to pay for your first year, possibly second year of college. You could also work while you're a full-time student, it'd be hard work but it can be done.
Your third option, but not last is to apply for grants. This is basically free money, they differ from scholarships though. You do not have to pay grants back, and you can get sponsored by companies to pay your way through college.
Write "True" if the statement is correct & "False" if the statement is incorrect.
Answer:
where's the question?
Explanation:
the barter method of exchange isn't more common in the u.s. economy because the
Because it is inefficient, lacks standardization, and poses challenges in determining fair values for goods and services.
The barter method of exchange isn't more common in the U.S. economy because it is inefficient, lacks standardization, and poses challenges in determining fair values for goods and services. Barter relies on a direct exchange of goods or services without the involvement of money. However, the use of money as a medium of exchange offers several advantages that make it more prevalent in modern economies like the United States.
Efficiency: Barter requires finding a direct trading partner who has what you need and needs what you have. This process can be time-consuming and complicated, leading to inefficiencies in resource allocation. In contrast, using money as a medium of exchange allows for more efficient transactions since money is widely accepted and easily divisible.
Standardisation: Money provides a standardised unit of value that facilitates pricing and comparison. In a barter system, it can be challenging to establish a fair exchange rate between different goods or services. Money provides a common measure of value, enabling easy comparison and facilitating trade.
Divisibility: Money is divisible into smaller units, allowing for transactions of various sizes. In barter, the exchange must involve goods or services of relatively equal value, which limits the flexibility of transactions. Money allows for more precise and flexible exchanges.
Storage of value: Money serves as a store of value over time. It can be saved and used for future transactions. In a barter system, perishable goods or services may not hold their value over time, making it difficult to store wealth.
Specialization and trade: Money facilitates specialization and trade, leading to increased productivity and economic growth. In a barter system, individuals or businesses would need to be self-sufficient and produce all the goods and services they require. Money allows for specialization, where individuals can focus on producing goods or services in which they have a comparative advantage and then trade for other desired goods or services.
In summary, the inefficiency, lack of standardization, difficulty in determining fair values, and limitations on specialization and trade are reasons why the barter method of exchange is not more common in the U.S. economy. The use of money as a medium of exchange offers greater convenience, efficiency, and flexibility in conducting transactions, promoting economic growth and development.
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inflation does not affect both local and international business true or false
Answer:
true
Explanation:
inflation effects every aspect of the economy
The assertion is incorrect. International and domestic companies are both impacted by inflation. Every sector of the economy is impacted. As a result, choice (B) is accurate.
What is inflation?
In economics, inflation refers to a broad increase in the cost of products and services across the board. The purchasing power of money decreases when the general price level rises, which is why inflation is often known as a rise in prices.
Deflation is the antithesis of inflation and refers to a persistent drop in the general level of prices for goods and services. The inflation rate, which is the annualized percentage change in a general price index, is a commonly used indicator of inflation.
The majority of economists concur that chronic excessive expansion in the money supply is the primary driver of high inflation as well as hyperinflation, both of which have extremely disruptive consequences on the actual economy.
Hence, option (B) is the right answer to this question.
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