The given data are:Allowance factor (workday) for a job is 0.5 .Normal time is 10 hours .To find: Standard time ,Formula used: Standard Time = (1 + Allowance factor) x Normal TimeCalculation.
Given Allowance factor = 0.5Normal time = 10 hoursStandard Time = (1 + Allowance factor) x Normal Time= (1 + 0.5) x 10= 1.5 x 10= 15 hrsTherefore, the standard time for the given job is 15 hrs.Following are the data:A job's allowance factor (workday) is set at 0.5.Ten hours is standard time.In search of: normal timeutilised formula Standard Time is (1 plus the allowance factor) times Normal Time.Calculation: 0.5 given the allowance factorTime normally is 10 hours.Standard time is (1 + Allowance factor) x Normal time is (1 + 0.5) x 10 is 1.5 x 10 is 15 hours.Consequently, 15 hours constitute the normal time for the specified task.
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Suppose that the allowance factor (workday) for a job is 0.5 and the normal time is 10 hours. The standard time can be calculated as follows: Standard time = Normal time / (1 + Allowance Factor) Where the normal time is 10 hours and the allowance factor is 0.5.
Hence, Substituting the given values in the formula, we get: Standard time = 10 / (1 + 0.5) Standard time = 10 / 1.5 Standard time = 6.67 hours Therefore, the standard time is 6.67 hours, which is approximately equal to 6 hours 40 minutes. Hence, the option "None of the above" is the closest option to the calculated value of the standard time, and it is the correct answer.
Financial Allowance Factor: In personal finance, an allowance factor refers to a percentage or multiplier used to determine an individual's spending limit or discretionary budget. It can be calculated based on various factors such as income, expenses, savings goals, and financial responsibilities. For example, if someone's monthly income is $1,000 and they use a 70% allowance factor, their discretionary budget would be $700.
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A promissory note: Multiple Choice Is a short-term investment for the maker. Is a written promise to pay a specified amount, usually with interest, either on demand or at a stated future date. Is a liability to the payee. Is created when a company sells its receivables to a finance company or bank. Cannot be used in payment of an account receivable
A promissory note is a written promise to pay a specified amount, usually with interest, either on demand or at a stated future date.
What is a promissory note?A promissory note is a debt instrument used by the note issuer to promise payment to the payee. The amount promised is ususally a definite amount of money and the date is usally specified. A promissory note is also known as notes payable.
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if there is excess supply of labor we would expect
If there is an excess supply of labor, we would expect increased competition among job seekers and downward pressure on wages.
How does an excess supply of labor affect the job market?When there is an excess supply of labor, also known as high unemployment, the job market becomes highly competitive. With more job seekers than available positions, employers have a larger pool of candidates to choose from which can lead to increased competition among job seekers.
As a result, individuals may struggle to find suitable employment or may have to settle for jobs that are below their skill level or pay expectations. Moreover, the surplus of labor puts downward pressure on wages, as employers have the advantage of choosing from a larger labor pool and can offer lower wages to attract workers.
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The relationship between NPV and IRR is such that a. both approaches always provide the same ranking of alternative investment projects. b. the IRR of a project is equal to the firm's cost of capital if the NPV of a project is $0. c. the IRR must be greater than the cost of capital if the NPV of a project is negative. d. none of the above applies.
The option that correctly describes the relationship between NPV and IRR is letter b, which states that the IRR of a project is equal to the firm's cost of capital if the NPV of a project is $0.
Net Present Value (NPV) is the most commonly used technique for analyzing the profitability of an investment. It calculates the present value of all future cash flows, discounted at the firm's cost of capital. If the NPV is positive, the project should be accepted; if the NPV is negative, the project should be rejected. Internal Rate of Return (IRR) is another technique used to evaluate the profitability of an investment. The IRR is the rate at which the NPV of an investment equals zero. The IRR is used to compare projects and select the one with the highest rate of return.
Both NPV and IRR are used to analyze the profitability of an investment. However, they are not interchangeable, and their results can sometimes be contradictory. The relationship between NPV and IRR is such that the IRR must be greater than the cost of capital if the NPV of a project is positive. If the IRR is less than the cost of capital, the project should be rejected because it does not meet the firm's minimum required rate of return.On the other hand, if the NPV of a project is zero, the IRR is equal to the firm's cost of capital. In this case, the decision to accept or reject the project depends on other factors, such as risk, liquidity, and strategic fit. In general, a project with a higher IRR is more attractive than a project with a lower IRR, assuming the projects have similar risks. However, the IRR does not take into account the size of the investment, the timing of cash flows, or the length of the project. Therefore, the IRR should be used in conjunction with other methods, such as NPV and Payback Period, to make a more informed investment decision. In conclusion, the IRR and NPV methods should be used together, along with other criteria, to evaluate the profitability and risk of investment projects.
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A writer, an illustrator, a publisher and an agent would form a
a. Functional team
b. Cross-functional team
C. Management team
d. Corporate team
Answer:
B. Cross-functional team
Explanation:
A writer, an illustrator, a publisher, and an agent would form a Cross-functional team. The correct option is B.
What are cross-functional skills?A Cross-Functional Candidate, according to Glassdoor, is a candidate with jack-of-all-trades abilities. In other words, a candidate with cross-functional skills is someone who is proficient in one or more related technologies or skills while also being knowledgeable in other technologies or skills.
Working cross-functionally, also referred to as working with teams other than your own, will inevitably occur at some point in your career. And doing it well can inspire innovative ideas, enhance your ability to interact with others, and improve your workplace's culture, productivity, and happiness.
Thus, the ideal selection is option B.
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Define the following:
1. Allocation of resources
2. Economic system
3. Market economy
1. Allocation of resources
apportionment of productive assets among different uses.
2. Economic system
by which societies or governments organize and distribute available resources, services, and goods across a geographic region or country.
3. Market economy
an economic system where two forces, known as supply and demand, direct the production of goods and services.
eg: US, Japan
What should investors consider when planning for their retirement? Check all that apply. -the amount an employer will match for a 401(k) -the contributions an employer will make to an IRA -the ideal age to establish a particular retirement plan -the amount an investor is allowed to contribute annually -the tax laws and breaks related to different retirement plans -the amount that can be withdrawn early without getting taxed
In a 401k the employer usually matches a percentage and if you are lucky dollar for dollar, where in an IRA it is does an an extra option with a set amount of money usually 2500 or more for each IRA contribution.
Correct option is A, C, D and E.
1. The amount an employer will match for a 401(k):- you don't have to forget when you will need the money, retirement is years away, but you have to know what choices will make it worth by the time you need the money back. And it is also important to know really how much you can invest. When you have a large amount more options are available. But using a variety of investments will reduce the risk.
3. The ideal age to establish a particular retirement plan:- that will set you up for the plan you need. Below 50 or older.
4. The amount an investor is allowed to contribute annually, the federal law allows a maximum contribution for participants older than 50.
5. The tax laws and breaks related to different retirement plans:- retirement plans can often give you tax benefits in the present it depends to the one you choose. For example, the payment of the tax on the money deposited in a traditional 401 (k) plan can be delayed until the money is withdrawn from the account.
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Answer:
A,C,D,E
Explanation:
I did it and this was correct.
Is a travel agent a part of the primary, secondary or tertiary sector?
a travel agent is a secondary sector
who thinks i might be attractive lol
Answer:
what
I don't get what do u mean
Answer:
I think all human beings have their own little uniqueness and b beauty.
Explanation:
What is the primary moral argument of critics of a regressive tax system?.
Answer: large income inequalities are bad for a democratic society
Explanation:
The primary moral argument of critics of a regressive tax system is that the large income inequalities are bad for a democratic society.
What is regressive tax?
A regressive tax is one that lowers the average tax burden as income rises. Low-income taxpayers have a disproportionately large percentage of the tax burden, whereas middle- and high-income taxpayers bear a disproportionately small cost.
The fundamental moral argument used by opponents of a regressive tax system is that significant economic disparities are harmful to democracy.
Therefore, the primary moral argument is the income inequalities.
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I need hElP!11!!rlelrdwf
Answer:
Building and construction
Explanation:
definition of the term small business
Answer:
make me brainalist and keep smiling dudeExplanation:
Small business is defined as a privately owned corporation, partnership, or sole proprietorship that has fewer employees and less annual revenue than a corporation or regular-sized business.why indigenous technologies are better than modern technology
Answer:
Indigenous technologies are better than modern technology because of the following reasons ;
1) It creates new employment opportunities .
2) It is much cheaper than imported technology.
3) It helps in the technological progress of developing countries which brings economic growth in nation .
4) It leads to greater encouragement for focused research.
5) It is affordable , sustainable band environment friendly.
FORM 2 BUSINESS HOLIDAY ASSIGNMENT
1 Differentiate between
ru Business and Business Studier
(2) Trade and Commerce
Qin External and internal business environments
(in Generic and enterprise forms of competitive environment
2. Explain five Characteristics of Economic resources
3. Explain five Characteristics of good thing System
4. Explain five uses of computers in an office
5. Explorin five examples of small-scale retailers wilu Shop
6. Explain five functibus of Wholesalers
, to producers
7 Give five terms of
payments
in home trade
8. Give five advantages of sole proprietorship forms of business to
9. Give four Sources of capital for public Limited Compar
10. Give five roles of Conimersial attache's
16 Give five essential elements of Communication
12. Give five importance of Warehouse
13. Explain five trending issues in transport
14. Explain Metuels of government involvement in basica
15. Explain five barriers to effeceive Communication
Answer:
Explanation:
2.Private: Easily excluded and subtractive.
Common pool: Difficult to excluded and subtractive.
Toll: Easily excluded and jointly consumption.
Public: Difficult to exclude and jointly consumed.
3.These are hypothesized to include functional “goodness”, good infrastructure, reliability, connect-ability, versatility and benefits that overflow/overwhelm the system's scope or initial investment.
4.Some of the popular uses of computers in offices include preparation of word documents such as letters, reports, processing of work documents such as work orders and financial reports, presentation of reports and proposals to and behalf of executive and higher level office personnel, management of email services
6.(i) Buying and Assembling:
The wholesaler purchases goods in large quantities from different manufacturers and assembles them at one place and stores them in his warehouse and resell to the retailers.
(ii) Warehousing:
By preserving the goods received from different manufacturers in stores, the wholesaler performs the function of warehousing. The storage of goods is needed on account of time lag between production and consumption of goods.
(iii) Grading and Packaging:
The assembled goods are graded in accordance with their quality and packed in different containers before supplying to the retailers. In this manner, the wholesaler performs important marketing functions of grading and packing.
(iv) Transportation:
The wholesalers purchase goods from manufacturers and carry them to his godowns and then supply the same to the retailers. He may employ his own vans or hire vehicles for carrying the goods on account of bulk purchases. They can avail of economies in freight.
(v) Financing:
The wholesaler provides credit facilities to the retailers and manufacturers. They sometimes give advance to the manufacturers for the goods to be received later. By selling goods on credit they help the retailers.
7.
There are 5 types of payment methods available in international trade. These payment types are cash-in-advance, open account, documentary collections, documentary credits (letters of credit) and bank payment obligation.
8.Less paperwork to get started.
Easier processes and fewer requirements for business taxes.
Fewer registration fees.
More straightforward banking.
Simplified business ownership.
9.The main sources of funding are retained earnings, debt capital, and equity capital. These are long-term sources, medium-term sources and short-term sources.
10.Educating and advising exporters on trade regulations/practices in other countries.
Expansion and diversification of exports.
Organizing for trade fairs and exhibitions of local goods in foreign markets.
Expansion and diversification of foreign markets.
16. 5 elements of effective communication: the sender, language, environment, the receiver, and feedback. All of these elements contribute to sending and receiving a concise, clear message.
12.Warehousing allows for timely delivery and optimized distribution, leading to increased labor productivity and greater customer satisfaction. It also helps reduce errors and damage in the order fulfillment process. Plus, it prevents your goods from getting lost or stolen during handling.
13.Trend #1: Cloud-Based Systems Adoption.
Trend #2: Integrated, Frictionless Travel.
Trend #3: Visibility and Anti-Theft GPS.
Trend #4: Self-Driving Trucks.
Trend #5: Regulation Compliance.
15.There are five key barriers that can occur within a company: language, cultural diversity, gender differences, status differences and physical separation.
Hope this helped!!!
Questions: Q1. Saleh Assaf has a repetitive manufacturing plant producing pacemakers in Jeddah. The plant has an average inventory turnover of only 12 times per year. He has therefore determined that he will reduce her component lot sizes. He has developed the following data for one component, the safety chain clip: Annual demand = 31,200 units Daily demand = 120 units Daily production (in 8 hours) = 960 units Desired lot size (1 hour of production) = 120 units Holding cost per unit per year = $12 Setup labor cost per hour = $20 How many minutes of setup time should he have his plant manager aim for regarding this component?
Given, Annual demand = 31,200 units Daily demand = 120 units Daily production (in 8 hours) = 960 units Desired lot size (1 hour of production) = 120 units Holding cost per unit per year = $12Setup labor cost per hour = $20 We can find the number of minutes of setup time Saleh Assaf should have his plant manager aim for regarding this component using the formula given below:
N = [2DS / H (Cost of holding one unit per year) ]1/2 Where, N = number of orders per year D = annual demand S = setup cost per order H = holding cost per unit per year.
N = [2 × D × S / H(Cost of holding one unit per year) ]1/2
N = [2 × 31200 × 20 / 12]1/2
N = [104000]1/2
N = 322.7486118 ≈ 322.75
Number of minutes of setup time should he have his plant manager aim for regarding this component is approximately 322.75.
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Fairborne Company borrowed $600,000 on an 8%, interest-bearing note on October 1, 2019. Fairborne ends its fiscal year on December 31. The note was paid with interest on May 1, 2020.
Fairborne Company borrowed $600,000 on an 8% interest-bearing note on October 1, 2019. The note was paid with interest on May 1, 2020.
When Fairborne Company borrowed $600,000 on an 8% interest-bearing note on October 1, 2019, it means that the company borrowed a principal amount of $600,000, and it agreed to pay interest at an annual rate of 8%. The note's terms would specify the repayment schedule and any additional conditions.
Since Fairborne Company's fiscal year ends on December 31, the interest expense incurred on the note for that fiscal year would be calculated based on the number of months from October 1 to December 31. The interest expense for the subsequent months would be calculated similarly.
On May 1, 2020, Fairborne Company paid off the note with interest. This means that the principal amount of $600,000 was repaid along with the accrued interest up to that date.
The specific calculation of interest expense and the repayment schedule would depend on the terms of the note, such as the compounding period and any additional fees or provisions. Without those details, it is not possible to provide the exact interest expense and repayment amounts.
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_____________ is pricing a product at a moderate level and positioning it next to a more expensive model or brand. group of answer choices
The pricing strategy you are referring to is known as the "skimming pricing strategy." This involves setting a relatively high price for a new product or service during the initial launch phase, then gradually lowering the price over time as the product becomes more widely adopted.
This strategy can be effective in certain markets, such as technology or luxury goods, where early adopters are willing to pay a premium price for the latest and greatest products. By positioning the product next to a more expensive model or brand, the company can create the perception of value and quality for the moderate-priced option.
However, it is important to carefully consider the target market and competition before implementing this strategy, as it may not be effective in all situations.
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Which factor plays the biggest role in motivating economic decisions in a
market economy?
O A. Corruption in the leadership of powerful groups
O B. Commitment to maintaining a traditional lifestyle
O C. Competition between different businesses
D. Cooperation between governments and citizens
Cooperation between governments and citizens: plays the biggest role in motivating economic decisions in a market economy. Thus, option D is the correct option.
What Is a Market Economy?A market economy is a kind of capitalism in which a nation's companies and residents interact to determine economic policy and the cost of products and services. Although there may be some central planning or government interference, this phrase often denotes a more generally market-oriented economy.
The majority of economic decisions in a market economy are made through voluntary transactions that follow the rules of supply and demand. In a market economy, entrepreneurs are free to pursue profit by producing outputs that are worth more than the inputs they use, or, if they choose not to, to fail and close their doors. The forces of supply and demand are used in market economies to set the right prices and quantities for the majority of products and services.
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To reduce the use of fossil fuel, one government decides to subsidise the suppliers of electric vehicles with a subsidy of $2 for every car they sell. Prior to the subsidy, the supply curve for electric cars is given by: p = 12 + Q. The demand curve is given by the following: p = 50 – Q.
8. After the subsidy is imposed, the new supply curve is:
a) p = 52 - Q
b) p = 14 + Q
c) None of the other answers is correct.
d) p = 48 - Q
e) p = 10 + Q
9. After the subsidy is imposed, how much is the total cost of the subsidy to the government?
a) 36
b) 18
c) 40
d) None of the other answers is correct.
e) 42
The answer to question 8 is option b) p = 14 + Q. When a subsidy is given to the suppliers, their cost of production reduces. In this case, the subsidy is $2 per car, so the new supply curve will be the old supply curve shifted up by $2. Hence, the new supply curve will be p = 12 + Q + 2, which simplifies to p = 14 + Q.
The answer to question 9 is option e) 42. The total cost of the subsidy to the government can be calculated by multiplying the subsidy per car with the number of cars sold. The subsidy per car is $2, and the quantity demanded can be found by equating the new supply curve with the demand curve: 14 + Q = 50 - Q, which gives Q = 18. Therefore, the total cost of the subsidy will be $2 x 18 = $36.
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from 1960 to 1970, the consumer price index (CPI) increased from 29.6 to 38.8 if a dozen tangerines cost 0.31 in 1960 and the price of tangerines increase at the same rate as the CPI from 1960 to 1970, approximately how much did a dozen tangerines cost in 1970
Answer: $0.41
Explanation:
A consumer price index measures the average price changes of goods that are bought by people in an economy. It shows the level of inflation in an economy.
To calculate the cost of a dozen tangerines in 1970we have to know the percentage increase in price index from 1960 to 1970 and this will be:
= [(38.8 – 29.6) / 29.6] × 100%
= (9.2 / 29.6) × 100%
= 31.08%
Let's represent the price of a dozen tangerines in 1970 by X and solve. This will be:
31.08 = (X - 0.31) × 100 / 0.31
Cross multiply
(31.08 × 0.31) = 100X - 31
9.6348 = 100X - 31
100X = 9.6348 + 31
100X = 40.6348
X = 40.6348 / 100
X = 0.46348
X = 0.41
Therefore, the cost of a dozen tangerines in 1970 is $0.41
Describe how a high level of flexibility would affect your performance in softball. Consider the benefits in many aspects of softball.
Answer:
you would be able to jump higher
you would be able to run quicker
you would be able to catch the ball better
Hope this helps!
Answer:
With a high level of flexibility for a volleyball player physical performance and muscle coordination would improve, it can even enhance the enjoyment of playing. One would be able to jump higher, move quicker and maybe even hit the ball further and all of this put together hopefully win too.
Explanation:
What type of competition does a pizza parlor vs. an ice cream shop represent?
Answer:
Explanation:
Its an indirect competition because we know that a pizza parlor and ice cream shop belong to the same sector i.e. Food but in case of products sold we can observe that pizza is not the same product as an ice cream because one is considered as a fast food while other is mainly eaten as a dessert. If the pizza shop sold ice cream along with pizzas tooo then we might have come across a direct competition to some point.
But in this case the sector is same but the products sold are different therefore this competition can be considered as an indirect competition between the two parties.
Therefore we can conclude from the above statements that we can classify this competition as an indirect competition.
the executives of great lakes medical center are writing a statement that explains their organization’s core purpose. great lakes medical center is at the strategic formulation step in strategic management.
Your organization's core purpose statement is a step of Strategic Objectives and Analysis. So the statement presented is False
Strategic management is a term to refers to the process of building a company. In it, all the necessary aspects such as objectives, the public, the market, the mission, among others, are analyzed. This process is generally divided into several steps. Each of the steps is explained below:
Strategic objectives and analysis: In this stage, all the external and internal analysis of the company is carried out to establish its principles.Strategic formulation: In this stage, the goals and objectives of the company are established based on the analysis of the previous stage.Strategic implementation: In this stage, everything that was planned in the previous stages begins.Evaluation and Strategic Control: In this stage, the operation and planning are evaluated and corrections are proposed to improve the weak aspects of the companyAccording to the above, Great Lakes Medical Center executives who are writing a document to explain the central purpose of their organization are in the Strategic Objectives and Analysis stage. So the correct answer is False.
Complete question:
The executives of great lakes medical center are writing a statement that explains their organization’s core purpose. Great lakes medical center is at the strategic formulation step in strategic management.
True
False
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"The market price average is decreasing daily; however, the level of declines relative to advances is falling. The market is reaching a(n):"
Answer:
This question is incomplete, the options are missing. The options are the following:
A) Overbought condition.
B) Oversold condition.
C) Breakout on the upside.
D) Breakout on the downside.
And the correct answer is the option B: Oversold condition.
Explanation:
To begin with, the name of "Oversold Condition" refers to the situation where the price of an asset has reach a certain level that is relative low in comparison with the prices that it has have before. That situation can last for a long period of time so the most prudent way to act in the eyes of a trader is to wait until the price base out and start increasing.
So that situation in where the market price average is decreasing and reaching to its bottom is called Oversold Condition.
Describe Red Bull’s target audience
Answer:
Red Bull can be identified as young urban males that live on the edge or aspire to do so. They are also generally interested in extreme sports and challenging recreational activities, and they have a lot of energy
Suppose that in 2015, a typical U.S. student attending a state supported college bought 8 textbooks at a price of $90 per book and enrolled in 28 credit hours of coursework at a price of $400 per credit hour. In 2016, the typical student continued to purchase 8 textbooks and enroll in 28 credit hours, but the price of a textbook rose to $100 per book, and the tuition price increased to $440 per credit hour. The base year for computing a "student price index" using this info is 2015. The price index for any base year is 100. The value of the student price index in 2015 is
Answer:
$11,920
Explanation:
2015 prices:
8 textbooks x $90 = $720
28 credit hours x $400 = $11,200
total = $11,920
the base year, in this case 2015, will be used to adjust the relative prices of the goods and services purchased by students. E.g. for year 2016, the index based on 2015 should be (8 x $90) + (28 x $400) = $11,920 since the quantities didn't change, only the nominal prices.
a specification for bottle filling has an upper limit of 9.16 ounces and a lower limit of 9.12 ounces. the process is stabilized and centered at the specification mean, with a process width of 0.05 ounces. what is the process capability ratio? a. 0.5 b. 1 c. 4 d. 2 e. 1.25 f. 0.8
The process capability ratio (Cp) is 0.8. The correct option is f) 0.8.
To calculate the process capability ratio (Cp), we'll need to use the following formula:
Cp = (USL - LSL) / (6 * σ)
where USL is the upper specification limit (9.16 ounces), LSL is the lower specification limit (9.12 ounces), and σ is the process standard deviation. We are given the process width (0.05 ounces), which is equal to 6 * σ.
Now, let's calculate the process capability ratio step-by-step:
1. Find the difference between the upper and lower specification limits: (9.16 - 9.12) = 0.04 ounces.
2. Calculate σ from the process width: (0.05 ounces) / 6 = 0.008333 ounces.
3. Plug the values into the Cp formula: Cp = (0.04) / (6 * 0.008333) = 0.04 / 0.05 = 0.8
So, the process capability ratio (Cp) is 0.8 (option f). This means that the process width is slightly larger than the specification width, and there might be a small percentage of products that are out of specification limits. A Cp of 1 or greater is desirable as it indicates that the process is capable of meeting the specification limits consistently. In this case, the process could be improved to ensure a higher level of quality.
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what is the term for when businesses produce goods and services that consumers do not want
Answer:
Productive (technical) inefficiency.
Explanation:
A market failure can be defined as a situation in which the market fails to produce an efficient level of productivity or output that is required to meet consumer demand.
This ultimately implies that, a market failure arises when there is inefficiency in the distribution or allocation of goods and services in a free market.
In Economics, there are two types of inefficiency associated with the production of goods and services, these includes;
1. Allocative inefficiency: it occurs when businesses do not maximise output from the given inputs. Thus, it arises when businesses fail to increase the level of their production or productivity from a number of given inputs.
In conclusion, allocative inefficiency typically occurs when the price of a good or service isn't equal to its marginal cost i.e P ≠ MC.
2. Productive (technical) inefficiency: it occurs when businesses produce goods and services that consumers do not want. This is typically as a result of the incorrect and inefficient allocation of scarce resources by a business firm or entity.
CASE 11.1 CONDITIONAL SALE Prewitt v. Numismatic Funding Corp., 745 F.2d 1175 (8th Cir. 1984). "Under the provisions of the UCC relating to risk of loss, as adopted in Missouri,the risk of loss remains with the seller." Judge Bright, United States Court of Appeals for the Eighth Circuit
Facts
Numismatic Funding Corporation (Numismatic), with its principal place of business in New York, sells rare and collector coins by mail throughout the United States. Frederick R. Prewitt, a resident of St. Louis, Missouri, responded to Numismatic’s advertisement in the Wall Street Journal. Prewitt received several shipmentsof coins from Numismatic via the mails. These shipments were "on approval" for 14 days. Numismatic gave no instructions as to the method for returning unwanted coins. Prewitt kept and paid for several coins and returned the others to Numismatic, fully insured, via FedEx. Numismatic mailed Prewitt 28 gold and silver coins worth over $60,000 on a 14-day approval. Thirteen days later, Prewitt returned all the coins via certified mail and insured them for the maximum allowed, $400. Numismatic never received the coins. Prewitt brought this action seeking a declaratory judgment as to his nonliability. Numismatic filed a counterclaim. The district court awarded Prewitt a declaratory judgment of nonliability. Numismatic appealed.
Issue
Who bears the risk of loss, Prewitt or Numismatic?
Language of the Court
The trial court determined, and the parties do not dispute, that the delivery of coins between seller Numismatic and buyer Prewitt constituted a sale "on approval." Under the provisions of the UCC relating to risk of loss, as adopted in Missouri, the risk of loss remains with the seller. Appellant Numismatic contends that the parties impliedly agreed to shift the risk of loss to Prewitt. It argues that an agreement by Prewitt to assume the risk of loss arose by implication from the prior course of dealing between the parties in which Prewitt had returned coins fully insured via Federal Express. The trial court found that Numismatic shipped the coins to Prewitt through the U.S. Postal Service and that no instructions on the method of return were ever given by Numismatic. In light of this finding, and the absence of any specific evidence in the record indicating that the parties had agreed upon a method of return, we reject Numismatic’s contention that there was an understanding between the parties that Prewitt would return the coins fully insured via Federal Express.
Decision
The court of appeals held that the transaction in question was a sale on approval and that under UCC 2-327(1), Numismatic, the owner of the coins, bore the risk of their loss
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Conditional Sale, do you agree with how the UCC assesses the risk of loss in the sale on approval transactions? Why or why not?
Buyer in the Ordinary Course of Business, what does the rule of the ordinary buyer in the course of business provide regarding the purchase of stolen property? Explain.
Numismatic, in accordance with the provisions of the UCC as adopted in Missouri. This means that Numismatic, as the owner of the coins, bore the risk of their loss until they were accepted by the buyer, Prewitt.
As for the rule of the ordinary buyer in the course of business, it generally provides protection to buyers who purchase stolen property unknowingly. According to this rule, if a buyer acquires property in the ordinary course of business and without knowledge that the sale violates the rights of another person, they may obtain good title to the property, even if it was stolen. This rule is based on the principle that buyers should be able to rely on the legality of the transaction and should not be held responsible for verifying the ownership of every item they purchase.However, it's important to note that laws may vary across jurisdictions, and exceptions to this rule exist, such as if the buyer acts in bad faith or is aware of facts that would put a reasonable person on notice regarding the stolen nature of the property. It is always advisable to consult legal professionals or refer to specific laws and regulations in your jurisdiction for a comprehensive understanding of the rules regarding the purchase of stolen property
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List the six areas of interest.
Answer:
Six areas of interest are: building,thinking,creating,holding, persuading and organizing.
Explanation:
Which is a true statement about the principles of organization?
The organizational principles are indeed similar regardless of the size of the business. This is a True statement.
The Scalar Principle, Delegation of Authority, Division of Labor, and Unity of Command. The four tenets of the organization are as follows.
The scale of a business's operations determines the production and, in turn, the number of sales it generates. You can run a business on a big scale, a medium scale, or a small scale. Return on assets, a proxy for financial performance, shows that firm size has a positive impact.
The size of a company may be a sign that it is expanding, which will cause the market to react favourably. The size or scale of a company increases as total assets and sales increase.
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