Suppose the mark-up of goods prices over marginal cost is 8% and that the wage-setting equation is W = P(1 – 2u), where u is the unemployment rate.
(a) Based on the medium-run analysis of the labor market model in Chapter 7, what the natural rate of unemployment? Illustrate the equilibrium with a diagrammatical sketch showing the price-setting and wage-setting curves.
(b) Suppose the mark-up increases to m=10%? How will this affect the medium-run equilibrium? Indicate the new equilibrium in your diagrammatic sketch.
Answers
The rate of unemployment that is compatible with a constant inflation rate is simply defined as the natural rate of unemployment.
Explain about the natural rate of unemployment?The rate of unemployment that is consistent with a constant inflation rate is referred to as the "natural rate of unemployment." The rate of unemployment that would exist if cyclical swings didn't exist is consequently the natural rate.
Economic theory that holds that, over the long run, the market will decide a typical rate of employment, which the government can only raise by inducing a high rate of inflation.
The supply side of the economy, which includes production potential and economic institutions, largely determines the natural unemployment rate. Involuntary unemployment may be a part of the natural rate of unemployment if these institutional traits include persistent labor market mismatches or real pay rigidities.
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Related Questions
Jiminy’s Cricket Farm issued a bond with 25 years to maturity and a semiannual coupon rate of 4 percent 3 years ago. The bond currently sells for 108 percent of its face value. The company’s tax rate is 22 percent.
Answers
Answer:
Pretax cost of debt = 3.48%
Aftertax cost of debt = 2.71%
Explanation:
Missing word "What is the pretax cost of debt and aftertax cost of debt"
Coupon rate = 4%
YTM = 22
Nper = YTM*2 = 44
PMT = 1000*4%/2 = 20
FV = 1000
PV = 1080
Rate = rate(nper, pmt, -pv, fv)
Rate = rate(44, 20, -1080, 1000)
Rate = 0.0174
Rate = 1.74%
Pretax cost of debt = Rate * 2
Pretax cost of debt = 1.74% * 2
Pretax cost of debt = 3.48%
Aftertax cost of debt = [3.48% * (1 - 0.22)]
Aftertax cost of debt = 3.48% * 0.78
Aftertax cost of debt = 0.0348 * 0.78
Aftertax cost of debt = 0.027144
Aftertax cost of debt = 2.71%
What is the whiplash effect?
Answers
Answer:
A neck injury due to forceful, rapid back-and-forth movement of the neck, like the cracking of a whip.
Explanation:
Pup tents use 4 direct labor hours (DLH) per unit and Pop-up tents use 3 direct labor hours per unit. Compute the overhead cost per unit for each product.
Answers
a) The computation of the single plantwide predetermined overhead rate for Tent Master is $6 per DLH ($252,000/42,000).
b) The computation of the overhead cost per unit for Pup and Pop-up Tents for Tent Master is computed as follows:
Pup Tents Pop-up Tents
Overhead cost $24 ($6 x 4) $18 ($6 x 3)
c) The computation of the product cost per unit for Pup and Pop-up Tents is as follows:
Per Unit Selling Direct Direct Overhead Product
Price Materials Labor per unit Cost / Unit
Pup tent $ 78 $ 20 $ 45 $24 $89
Pop-up tent 73 25 30 $18 $73
d) The computation of the gross profit per unit (selling price per unit minus the product cost per unit) of Pup and Pop-up Tents is as follows:
Per Unit Selling Direct Direct Overhead Product Gross Profit
Price Materials Labor per unit Cost / Unit (Loss) per unit
Pup tent $ 78 $ 20 $ 45 $24 $89 ($11) ($78 - $89)
Pop-up tent 73 25 30 $18 $73 $0 ($73 - $73)
What does a product cost?The determination of the product cost includes the costs of direct materials, direct labor, and overhead. The overhead cost is allocated to each unit based on a predetermined overhead rate (budgeted overheads/budgeted usage) or using an activity-based costing technique.
Data and Calculations:Budgeted overhead costs = $252,000
Budgeted direct labor hours = 42,000
Question Completion:Tent Master produces Pup tents and Pop-up tents. The company budgets $252,000 of overhead cost and 42,000 direct labor hours. Additional information follows:
Per Unit Selling Price Direct Materials Direct Labor DL Hours
Pup tent $ 78 $ 20 $ 45 4
Pop-up tent 73 25 30 3
Required:1. Compute a single plantwide overhead rate assuming the company allocates overhead costs based on 42,000 direct labor hours.
2. Pup tents use 4 direct labor hours (DLH) per unit and Pop-up tents use 3 direct labor hours per unit. Compute the overhead cost per unit for each product.
3. Compute the product cost per unit for each product.
4. For each product, compute the gross profit per unit (selling price per unit minus the product cost per unit).
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You are to receive a cash flow of $1,500 two years from now. Once received, you will invest the money and earn a 10.5% return. What is the value of the investment in year 5?
Answers
Answer:
$2,471.17
Explanation:
The value of the investment in 5 years time from the day of investment is known as the Future Value.
The Future Value is calculated by compounding the Principle Amount (amount invested) using the effective interest rate.
We can determine the Future Value using a Financial Calculator as follows :
PV = - $1,500
PMT = $0
P/YR = 1
N = 5
I = 10.5%
FV = ??
The Future Value (FV) is $2,471.17
Thus,
the value of the investment in year 5 is $2,471.17
can someone please help meeeeeeee
Answers
Answer:
D: ISO 9000
Explanation: Labor Market Conditions, Land, quality-of-life all seem to be factors that do affect location decisions
I hope this helped :)
What contingency factors might affect the
planning a business managers have to
do?
Answers
The contingency factors that might affect the planning a business managers have to do includes:
Environmental Uncertainty.Organizational Level.Time limit.What is a contingency factor?It refers to the provision that the cost estimator makes to cover the unforeseeable expenses that the project may incur. Such expenses may result from factors such as unpredictable weather conditions, uncertainties within the project, incomplete design plans
In conclusion, the amount to be allotted for each contingency factor depends on the amount of detail in the project's design as well as its level of uncertainty.
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what is a loan agreement that provides for payment increases to allow the amount owed to be paid off more quickly?
Answers
An amortizing loan is a type of loan contract that stipulates payment increases to enable the principal balance to be repaid more quickly.
What is a loan amortization agreement?It can signify one of two things: repayment of a loan's principal before the loan's actual due date. The borrower is typically required to make payments on schedule for loans that amortize.
How does loan amortization work?Calculating the monthly bill due throughout the course of the loan amortizes the debt. The next step is to create an amortization plan that explicitly states how much of each payment is going toward principal and how much is going toward interest.
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IF COUNTRIES FIND WAYS OF IMPROVING THEIR FACTOR OF PRODUCTIVITY
Answers
Answer:
THEIR FACTOR OF PRODUCTIVITY will increase.
Even though the goal of a firm is to create wealth for its shareholders, there are times when ethical or strategic considerations outweigh the profit incentive, causing managers to reject investments with positive net present values. T/F
Answers
True. Even if a business's main goal is to maximize profits for its shareholders, there are occasions when ethical or strategic considerations trump the financial one, forcing management to forgo deals with good net present values.
Is a company's main goal to maximize profits or the wealth of its shareholders?The company's top priority is consistently increasing shareholder wealth, which produces earnings to increase the dividends paid on each ordinary share. A sign of greater shareholder wealth is the higher price of shares traded on the stock market.
Is it always morally right for a business to attempt to maximize profits for its shareholders?A corporation's desire to increase profits for the benefit of its stockholders is not always morally good. For some businesses, a commitment to morality is insufficient to boost earnings. For tiny enterprises or organizations that are dealing with particular issues, ethics is insufficient.
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How does an employee know how much their paycheck is going to be?
pls help me
Answers
Answer:
There supposed to be given that info when applying for the job or in meeting! hope it helped :))
Sandra Lansbury Company deposits all receipts and makes all payments by check. The following information is available from the
cash records.
June 30 Bank Reconciliation
Balance per bank
$29,400
Add: Deposits in transit
6,468
Deduct: Outstanding checks (8,400)
Balance per books
$27,468
Month of July Results
Balance July 31
July deposits
July checks
July note collect (not included in July deposits)
July bank service charge
July NST check from a customer, returned by the bank (recorded by bank as a charge)
Per Bank
$36,330
18,900
16,800
6,300
63
1,407
Per Books
$38,850
24,402
13.020
Type here to search
Bi
A
9
Answers
Answer:
Sandra Lansbury Company
Bank Reconciliation
Balance per bank statement, July 31 $36,330
Add: Deposits in transit $11,970 ($6,468+$24,402-$18,900)
Less: Outstanding checks ($4,620) ($8,400-$16,800+$13,020)
Correct cash balance, July 31 $43,680
Balance per books, July 31 $38,850
Add: Collection of note $6,300
Less: Bank service charge $63
Less: NSF check 335 $1,407
Corrected cash balance, July 31 $43,680
Question 33 (12 points)
Listen
Suppose that an economy is producing real GDP valued at $15.5 trillion, but the
economy's potential level of production is $18 trillion. First explain what type of
production gap this is and how unemployment will be impacted. Then explain both
how the federal government might use its three fiscal policy tools and how the
Federal Reserve would use its three traditional monetary policy tools.
Answers
The type of production (or GDP) gap identified is the Negative production Gap. This is a situation where the economic output is less than the full capacity output.
How will the Negative Production Gap impact Unemployment?A negative Unemployment Gap always translates to low growth and further shortfall in output and increasing rates of unemployment.
Three fiscal policy tools that can be used to tackle this situation are:
The above tools are expansionary in nature. They have the effects of stimulating aggregate demand hence causing an expansion in production and reducing unemployment.
The three monetary tools that can be used to combat the above situation are:
Open Market Operations such as buying back government bonds;Reduced discount rates which increase money supply; andReducing reserve ratio are all expansionary. They will increase the money supply and stimulate aggregate demand.Learn more about Negative Production Gap at:
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Why is it important to understand the amount of setup time required for each order?
Answers
Production capacity is limited because setup time cuts into available production time.
What is Setup Time Reduction?A method of minimizing the time required to switch a process from the final component for the outgoing product to the first functional component for the incoming product. The length of time it takes to finish a setup has an impact on manufacturing since it affects how adaptable a production process is determined.
Setup period, Setup time Reduction is the amount of time between the final successful run and the start of the succeeding run. Activities during setup time do not add value to the product value. Cutting down on setup time will increase a company's capacity, manufacturing flexibility, and overall output.
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Do you think trade of goods and services between countries is important?
Answers
Answer:
Yes
Explanation:
A country gets a wider market for its goods.
For most consumers, term life insurance is considered to be the:
O worst option
O same cost as term
O most expensive
O best value
Answers
For most consumers, the term life insurance is considered to be worst option.
What is a term life insurance?A sort of death benefit that pays the policyholder's heirs over a predetermined length of time is term life insurance, commonly referred to as pure life insurance. The owner of the term life insurance policy has three options after the term has ended: renewing it for a new term, changing it to permanent protection, or letting the policy lapse. The premium for term life insurance is established by the insurance provider based on the value of the policy (the payout amount), as well as your age, gender, and general health. A medical examination could be necessary in several situations. Your driving history, current medications, whether you smoke, your work, your hobbies, and your family history may all be requested by the insurance provider.
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The comparative financial statements of Stargel Inc. are as follows. The market price of Stargel common stock was $119.70 on December 31, 20Y2.Stargel Inc.Comparative Retained Earnings StatementFor the Years Ended December 31, 20Y2 and 20Y120Y2 20Y1Retained earnings, January 1 $5,375,000 $4,545,000Net income 900,000 925,000Total $6,275,000 $5,470,000Dividends: Preferred stock dividends $45,000 $45,000Common stock dividends 50,000 50,000Total dividends $95,000 $95,000Retained earnings, December 31$6,180,000$5,375,000 Stargel Inc. Comparative Income Statement For the Years Ended December 31, $6,180,000 $5,375,000Stargel Inc.Comparative Income StatementFor the Years Ended December 31, 20Y2 and 20Y120Y2 20Y1Sales $10,000,000 $9,400,000Cost of goods sold 5,350,000 4,950,000Gross profit $4,650,000 $4,450,000Selling expenses $2,000,000 $1,880,000Administrative expenses 1,500,000 1,410,000Total operating expenses $3,500,000 $3,290,000Income from operations $1,150,000 $1,160,000Other revenue 150,000 140,000$1,300,000 $1,300,000Other expense (interest) 170,000 150,000Income before income tax $1,130,000 $1,150,000Income tax expense 230,000 225,000Net income $900,000 $925,000Stargel Inc.Comparative Balance SheetDecember 31, 20Y2 and 20Y1Dec. 31, 20Y2
Dec. 31, 20Y1Assets Current assets: Cash $500,000 $400,000Marketable securities 1,010,000 1,000,000Accounts receivable (net) 740,000 510,000Inventories 1,190,000 950,000Prepaid expenses 250,000 229,000Total current assets $3,690,000 $3,089,000Long-term investments 2,350,000 2,300,000Property, plant, and equipment (net) 3,740,000 3,366,000Total assets $9,780,000 $8,755,000Liabilities Current liabilities $900,000 $880,000Long-term liabilities: Mortgage note payable, 10% $200,000 $0Bonds payable, 10% 1,500,000 1,500,000Total long-term liabilities $1,700,000 $1,500,000Total liabilities $2,600,000 $2,380,000Stockholders' Equity Preferred $0.90 stock, $10 par $500,000 $500,000Common stock, $5 par 500,000 500,000Retained earnings 6,180,000 5,375,000Total stockholders' equity $7,180,000 $6,375,000Total liabilities and stockholders' equity $9,780,000 $8,755,000Required:Determine the following measures for 20Y2.Return on total assets %Return on stockholder's equity %Return on common stockholder's equity %
Answers
Who should fill out a Free Application for Federal Student Aid (FAFSA)?
PERDELE
A. Only students who have been accepted to college should fill out a
FAFSA.
B. All students should fill out a FAFSA.
C. Only students who are unable to pay for college should fill out a
FAFSA.
D. Only students who have received good grades should fill out a
FAFSA.
EL
14
FREE
Answers
Based on the eligibility requirements stated, those that should fill out a Free Application for Federal Student Aid (FAFSA) are the "Only students who have been accepted to college should fill out a FAFSA."
Eligibility Criteria for FAFSAAccording to the United States government website, to be eligible for the program requires one to have the following criteria:
Be a U A Citizen.Have a valid Social Security Number.Register with Selective Service.Have a high school diploma.Be accepted or already a regular student working toward a degree or just No drug record, etc.Hence, in this case, it is concluded that the correct answer is option A. "Only students who have been accepted to college should fill out a
Only students who have been accepted to college should fill out aFAFSA."
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The ABC Corporation has the following information. How much is the Cash Flow to Creditors? АВС Coгporation 1,588 Earnings before Interest & taxes Depreciation Beginning net fixed assets Interest paid Net new equity raised Net new borrowing 130 1,650 150 450 110 424 Тахes O$110 O $40 $340 $1,200 $1,650
Answers
Answer: $40
Explanation:
Cash-flow to creditors is that amount of cash that the business paid to creditors during a period. It is calculated by removing the net new borrowings from the interest payments for the period to the creditors.
Cash-flow to Creditors = Interest Paid - Net Borrowing
Cash-flow to Creditors = 150 - 110
Cash-flow to Creditors = $40
2. Providing promotion opportunities at work, recognizing a person’s accomplishments verbally or through more formal reward systems, job titles that communicate to the employee that one achieved high status within the organization are among the ways of satisfying:
a. Physiological needs
b. Esteem needs
c. Safety needs
d. Self-actualization needs
Answers
Providing promotion opportunities at work, recognizing a person’s accomplishments verbally or through more formal reward systems, job titles that communicate to the employee that one achieved high status within the organization are among the ways of satisfying Esteem needs.
Maslow's five-layer theory of human motivation includes esteem as the fourth layer. Although esteem is a personal trait, it is influenced by other forces, such as peer validation and approval. Users frequently receive virtual rewards for completing one or more activities, such as beating a level in an online game. Some people may find these insignificant rewards amusing, yet they serve as motivation to keep using a product and moving forward in order to get the next badge, nickname, percentage rise, etc.
It is believed to be connected to the other levels of our needs. Confidence, fortitude, self-belief, social and personal acceptability, and respect from others are all aspects of self-esteem. One of the most important steps in achieving contentment or self-actualization is the fulfilment of these requirements.
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Forest Company sells a product for $120 per unit. The variable cost is $50 per unit, and fixed costs are $392,000. Determine (a) the break-even point in sales units and (b) the break-even point in sales units required for the company to achieve a target profit of $152,880.
Answers
Answer:
Instructions are below.
Explanation:
Giving the following information:
Selling price per unit= $120
Unitary variable cost= $50
Fixed costs= $392,000
First, we need to calculate the break-even point in units and dollars, using the following formula:
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 392,000/ (120 - 50)
Break-even point in units= 5,600 units
Break-even point (dollars)= fixed costs/ contribution margin ratio
Break-even point (dollars)= 392,000 / (70/120)
Break-even point (dollars)= $672,000
Now, we need to determine the number of units to be sold for the desired profit of $152,880:
Break-even point in units= (fixed costs + desired profit) / contribution margin per unit
Break-even point in units= (392,000 + 152,880) / 70
Break-even point in units= 7,784 units
Which action would a government most likely take to reduce its
unemployment rate?
A. Increase spending to create government jobs
B. Cut off loans to businesses in order to reduce the money supply
C. Increase taxes on businesses that operate outside the country
D. Cut taxes on businesses that operate with very few workers
Answers
Option (a), The action that a government would most likely take to lower its unemployment rate is to increase expenditure to generate government jobs.
What would happen to the unemployment rate if government spending increased?Fiscal policy may lower unemployment by accelerating economic growth and total demand. The government will need to implement a broad budgetary policy, which calls for decreasing taxes and increasing general government spending.
Which government initiative has the most chance of reducing cyclical unemployment?To lower cyclical unemployment, policymakers should focus on raising output, which is best achieved by increasing demand. A fiscal strategy that is more expansive aims to increase government spending and decrease taxes in order to increase aggregate demand and economic growth.
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Africanisation (how will you incorporate the learners culture or heritage into the contemporary socio-economic issues lesson
Answers
By incorporating culturally relevant examples, guest speakers, local data, cross-cultural comparisons, a multilingual approach, and artistic expressions, we can incorporate learners' culture or heritage into the contemporary socio-economic issues lesson.
To incorporate the learners' culture or heritage into a contemporary socio-economic issues lesson, it is important to create a culturally responsive and inclusive learning environment that recognizes and values the African context. Here are some strategies to achieve this:
Culturally Relevant Examples: Use examples and case studies from African countries or communities that relate to the socio-economic issues being discussed. This helps students connect with the content on a personal and cultural level, fostering engagement and understanding.
Guest Speakers and Community Involvement: Invite guest speakers from diverse African backgrounds who can share their experiences and perspectives on the socio-economic issues being studied. This provides authentic and firsthand insights into how these issues manifest in different African contexts.
Local Data and Research: Incorporate local data and research from African sources to illustrate the impact of socio-economic issues. This helps students see the relevance of these issues within their own communities and promotes a sense of ownership and empowerment.
Cross-Cultural Comparisons: Encourage students to explore and compare socio-economic issues between African countries, as well as with other regions of the world. This broadens their perspective, promotes critical thinking, and encourages understanding of global interconnections.
Multilingual Approach: Recognize and embrace the diversity of languages spoken by students. Incorporate key terms, discussions, and resources in various African languages, ensuring that students can engage with the content in their native languages and feel valued.
Art, Music, and Literature: Incorporate African art, music, and literature that address socio-economic issues. This helps students explore these topics through creative expressions that resonate with their cultural heritage.
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Thermal Rising, Incorporated, makes paragliders for sale through specialty sporting goods stores. The company has a standard paraglider model, but also makes custom-designed paragliders. Management has designed an activity-based costing system with the following activity cost pools and activity rates:
Activity Cost Pool Activity Rate
Supporting direct labor $ 22 per direct labor-hour
Order processing $ 194 per order
Custom design processing $ 268 per custom design
Customer service $ 416 per customer
Management would like an analysis of the profitability of a particular customer, Big Sky Outfitters, which has ordered the following products over the last 12 months:
Standard Model Custom Design
Number of gliders 11 3
Number of orders 1 3
Number of custom designs 0 3
Direct labor-hours per glider 29.50 31.00
Selling price per glider $ 1,825 $ 2,490
Direct materials cost per glider $ 464 $ 584
The company’s direct labor rate is $16 per hour.
Required:
Using the company’s activity-based costing system, compute the customer margin of Big Sky Outfitters. (Round your intermediate calculations and final answer to the nearest whole dollar amount. Loss amounts should be entered with a minus sign.)
Answers
The total costs for Big Sky Outfitters is $6,566, The customer margin of Big Sky Outfitters is $14,123.
How to calculate the company’s activity-based costing system and the customer margin of Big Sky Outfitters.Calculating the costs for each activity:
1. Supporting direct labor:
Standard Model: 11 gliders x 29.50 direct labor-hours per glider x $16 per hour = $5,152
Custom Design: 3 gliders x 31.00 direct labor-hours per glider x $16 per hour = $1,488
2. Order processing:
Standard Model: 1 order x $194 per order = $194
Custom Design: 3 orders x $194 per order = $582
3. Custom design processing:
Custom Design: 3 custom designs x $268 per custom design = $804
4. Customer service:
Customer Service: 1 customer x $416 per customer = $416
Calculating the total costs for Big Sky Outfitters:
Total costs = Supporting direct labor + Order processing + Custom design processing + Customer service
Total costs = $5,152 + $194 + $804 + $416 = $6,566
Now, let's calculate the total revenues for Big Sky Outfitters:
Total revenues = (Number of gliders x Selling price per glider) - (Number of gliders x Direct materials cost per glider)
Total revenues = (11 x $1,825) - (11 x $464) + (3 x $2,490) - (3 x $584)
Total revenues = $20,075 - $5,104 + $7,470 - $1,752 = $20,689
Finally, let's compute the customer margin:
Customer margin = Total revenues - Total costs
Customer margin = $20,689 - $6,566 = $14,123
Therefore, the customer margin of Big Sky Outfitters is $14,123.
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glass co. had net income of $70,000 during the year. Depreciation was $10,000. the following information is available: accounts receivable increase (sale price $100,000) non trade notes payable increased by 50,000, equipment purchases increased by 40,000 account payable increase 30,000. what amount should galss report as net cash provided by investing activities
Answers
Answer:
Net cash from investing activities (40,000)
Explanation:
The investing activities are those that pertain to the purchase and sales of non-current assets and marketable securities.
Example of such includes the sales and purchase of property plant an equipment. Therefore, the only item to be considered here is the purchase of equipment.
$
Investing activities
Equipment purchase (40,000)
Net cash from investing activities (40,000)
The American Marketing Association Statement of Ethics identifies six key aspirational
ethical values, one of which is
Select one:
a. diversity.
b. integrity.
c. perseverance.
d. charity.
e. openness.
Answers
Production is an example of a marketing activity.
Question 1 options:
True
False
Answers
The fixed costs for Teddy bikes are $ 1000, the variable costs are $855, and the firm's revenues are $950.What should the firm do?
Answers
If the variable costs are $855, and the firm's revenues are $950, then the firm should cut down the variable cost in order to increase the profit or revenue as the fixed cost cannot be changed in short run.
What is fixed cost?A fixed cost is a cost that does not fluctuate with the production or sale of more or fewer goods or services.
Rent and leasing charges, salary, energy prices, insurance, and loan repayments are a few examples of fixed costs. There are some taxes that are fixed costs as well, such as company licenses.
Fixed costs are expenses that remain constant regardless of whether sales or production volumes rise or fall. This is so because they are not involved in the actual process of producing a good or providing a service. Fixed costs are therefore regarded as indirect costs.
The term "variable cost" refers to a sort of cost that will fluctuate in response to changes in production levels.
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businesses use organisational structure which is based around project but employee stay in their department
Answers
An organizational structure based around projects while employees remain in their departments combines the advantages of functional specialization and project-oriented collaboration
Businesses that adopt an organizational structure based around projects while keeping employees in their respective departments often follow a matrix or hybrid organizational structure. This approach allows organizations to leverage the benefits of both functional departments and project teams.
In this structure, employees are grouped into functional departments based on their areas of expertise or skills. These departments, such as finance, marketing, human resources, and operations, provide specialized support and resources to various projects within the organization. Each department is typically led by a department head or manager responsible for overseeing the department's operations and ensuring the delivery of functional objectives.
On the other hand, project teams are formed to address specific business objectives or initiatives. These teams are comprised of individuals from different departments who possess the necessary skills and expertise to achieve project goals. The project teams are usually led by a project manager who is responsible for coordinating activities, managing resources, and ensuring the successful completion of the project within the specified timeline and budget.
By adopting this organizational structure, businesses can maximize efficiency and resource utilization. Employees benefit from the stability and specialization offered by their department, allowing them to develop deep expertise in their functional areas. At the same time, they also have the opportunity to contribute their expertise to cross-functional project teams, enabling them to broaden their skills, collaborate with colleagues from different backgrounds, and gain exposure to diverse projects and challenges.
This structure facilitates better communication and coordination between departments, as project teams act as intermediaries, ensuring that information and resources flow seamlessly between the departments and the projects. Additionally, it encourages a culture of innovation and flexibility, as employees have the opportunity to contribute their unique perspectives and expertise to different projects, fostering a cross-pollination of ideas.
Overall, an organizational structure based around projects while employees remain in their departments combines the advantages of functional specialization and project-oriented collaboration, enabling businesses to efficiently execute projects while maintaining the stability and expertise of functional departments.
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US REFERENCE: SO 9
5. Given an organisation in a different province or country, describe the way in which performance
would be adapted.
Answers
Answer:
Adapting performance in an organization in a different province or country would require an understanding of the local culture, customs, laws, and regulations. The organization would need to take into account the linguistic and communication barriers that may exist, and may need to provide additional training. Performance metrics would also need to be reviewed and adjusted to reflect the unique challenges and opportunities of the specific geographic location. Additionally, the organization would need to build relationships with local stakeholders, such as customers, suppliers, and government officials, to ensure and maintain its success in the new market. A comprehensive market analysis and strategy development would need to be undertaken to ensure that the organization is positioning itself for success and anticipating local challenges. Finally, the organization may need to adjust its policies and procedures to align with local laws and regulations and to refreflect on theect the cultural norms of the new market. Overall, it is important for the organization to remain adaptable and flexible to maintain success in a new market.
Explanation:
Each individual has a dominant communication social style, based on analysis of which two dimensions
Answers
The D personality style is described as being direct and decisive, or even dictatorial. They prefer managerial and leadership positions and prefer to take the initiative than follow.
What is a dominant person like?Goal-oriented, forceful, and competitive personality types are dominant. Results matter more to them than close friendships. If you follow through on your commitments, even if they don't send you a holiday card, your company relationship will remain positive. The bottom line is extremely important to dominators.
Instead of avoiding others, dominant-style communicators frequently disclose their opinions, the best way to complete a task, and what other people are doing incorrectly—even when their counsel may not be welcomed.
Learn more about a dominant person here:
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