Gains from Trade Trade enables Trey and Cate to consume outside their respective production possibility curves. In other words, the production possibility curves (PPFs) indicating that they would be able to consume more than they could produce without trading.
Before trade: Trey spends 80% of his time on tea and 20% of his time on bread. He can therefore produce 0 bread * 50 hours/bread = 0 hours of bread and 800 cups of tea * 50 hours/tea = 40000 hours of tea. Similarly, Cate spends 70% of her time on bread and 30% of her time on tea. She can therefore produce 500 cups of tea * 50 hours/tea = 25000 hours of tea and 300 loaves of bread * 50 hours/bread = 15000 hours of bread.
Trey and Cate, together, can now produce 50000 + 30000 = 80000 hours of tea and 30000 hours of bread. Together, Trey and Cate can now produce more tea than they could before trade. In autarky, they produced 65000 hours of tea. In contrast, by specializing and trading, they can now produce 80000 hours of tea. The combined gains from trade amount to 15000 hours of tea. Answer: 15000
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1.1.2 Quiz: Business Goals and Standards
Question 1 of 10
Define the word profit in business.
OA. Money left after costs are paid
B. Commercial activity
OC. Quality care
OD. Structure for wealth
SUBMIT
The word profit in business means the money left after costs are paid (option A).
What are the costs or business expenses?Costs or expenses in business include the costs that are considered necessary and ordinary as well. Business expenses include travel charges, bank fees, bank interests, payroll of the employees, fees, commissions, and office equipment.
The money that is left after paying the business expenses or the costs includes the profit. It is important to mention that businesses have to pay their business expenses and after deducting that money, the amount that is left with a business organization is the profit.
It can be concluded that the word profit in business means the money left after costs are paid (option A).
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human resource management was called when undertaking clerical functions such as screening employees, keeping records, payroll, and finding new employees.
Answer:
personnel
Explanation:
Human resource management was called personnel at the time when the clerical functions are undertaken.
The following information regarding the personnel management is:
It refers to the management where the workforce could be maintained. It is mainly concerned when employees are at work also their relationship within an organization should also mattered. Plus the clerical functions are to be undertaken.Learn more: brainly.com/question/15569649
Which of the following is NOT a resource?
A
water
B.
food
C.
land
D.
jewelry
Answer:
D
Explanation:
It was never made when Earth was made
Answer:
jewelry not resource this is a correct answer
the combination of product, price, place, and promotion developed to satisfy a particular target market is referred to as the
The marketing mix is the arrangement of a product's price, position, promotion, and other factors created to appeal to a certain target market.
Businesses employ the marketing mix, an essential marketing concept, to develop an effective marketing plan that appeals to their target market. Every component of the marketing mix is essential to the overall strategy's success. The price is how much it costs, but the product is what is being sold. Promotion refers to the different marketing and advertising strategies used to promote the product and boost sales, while place, also known as distribution, refers to the locations where the product is offered.
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Scenario: Country W has placed a trade embargo on Country L because they are not seeing eye to eye on global political issues. As a result of this embargo, Country L is having difficulties receiving the metals needed to continue production of their famously reliable cars. Answer the following question according to the information presented in the scenario. By creating an embargo, Country W is creating a(n)_____. The embargo will cause Country L's productivity to_____.
Answer: Punishment and Decrease
Explanation: I got it right.
The correct options are (A) By creating an embargo, Country W is creating a barrier to trade. The embargo will cause Country L's productivity to (B) decrease or decline, as they are having difficulties receiving the metals needed for production of their cars.
What is barrier in trade?A barrier in trade refers to any obstacle that hinders free and open trade. Such hindrances can be created intentionally or unintentionally by governments or other players in the market. Barriers in trade can take on many forms, such as tariffs, quotas, embargoes, regulations, and subsidies. They affect international trade by increasing the costs of goods, limiting consumer choices and reducing the amount of trade between countries. The result is often a negative impact on the economy, as barriers lead to decreased productivity, reduced competition, and increased costs. Countries often use trade barriers to protect their domestic industries or to correct perceived trade imbalances.
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Max is using a search engine to do research on trends in his industry when he comes across a website that isn’t necessarily related to his research–but is interesting and engaging. Without realizing it, Max spends over an hour browsing through the webpage’s numerous articles and links. When his boss asks him if his research report will be ready by the end of the day, Max isn’t sure how to respond. He’s hardly done any work–but it’s not like he was purposely avoiding work. He was using the search engine for the purpose of research, after all. It’s not his fault that the search results weren’t very relevant. Max is considering asking his boss for an extension on his deadline so that he can spend more time researching. What do you think? What should Max do?
In this situation, Max has to first give his boss some advance notice that he wont be able to complete the report before deadline, explain himself briefly as to why that is, then ask for more time to be able to complete the task.
What is a deadline?A deadline indicates that a task or project is anticipated to be finished by that date and time. There is a clear expectation of what must be provided and by when thanks to deadlines. Employees are able to take charge of their work in this way and include deadlines into their time management techniques.
It's critical to schedule deadlines in advance because your work may be delayed. Recognize that some resources might be delayed and that some people might not be available. You may prevent the disaster of missing a deadline by making plans in advance.
Deadlines are crucial in business for a variety of reasons. They establish standards and encourage productive behavior in the workplace.
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Which of the following strategies can help companies during the maturity stage of a product life cycle? Manufacturing products in small quantities intermittently than in bulk Sacrificing the quality of products Focusing on keeping costs low Drastically increasing product prices Focusing more on strategies to slow the entry of competitors
During the maturity stage of a product life cycle, companies may employ various strategies to maintain market share and maximize profits.
One such strategy is focusing on keeping costs low, as doing so can help companies maintain their competitive advantage and continue to generate revenue even as sales growth slows down. Another strategy that can be useful during this stage is to focus on strategies to slow the entry of competitors into the market.
This can be done by investing in research and development, marketing, and other areas that can help to differentiate a company's product from those of its competitors. Additionally, manufacturing products in small quantities intermittently than in bulk can help companies to avoid the costs associated with overproduction and inventory management, while sacrificing the quality of products or drastically increasing product prices is unlikely to be successful in maintaining market share.
Overall, companies in the maturity stage of a product life cycle need to be strategic and adaptable in order to succeed.
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What do most states use as a general guideline for punitive damages?
A.Four times the amount of special damages
B.One half of the amount paid for proven damages
C.Ten times the amount of special damages
D.An amount equal to special damages
Answer:
four times
Explanation:
just answered
Answer:
A. Four times the amount of special damages
Explanation:
Match the steps that marketing management performs to the scenarios that describe the steps
The steps that marketing management performs to the scenarios that describe the steps include the "Discovery Step --- Marketing management team are performing detailed research for the best target market for their products or services."
The other steps that marketing management performs to the scenarios that describe the steps include the following:
Strategy step -- the marketing management team determines the proper marketing channels for their product or services. Then, they formulate the messaging and finally plan the timing.Implementation step -- the marketing management team decides when and where to execute their targeted, cost-effective marketing campaigns and put them into action.Measurement step -- the marketing management team assesses the marketing campaign results to know the right methods or techniques before continuing with the marketing campaign.Hence, in this case, it is concluded that the Marketing management team plays a vital role in the product life cycle.
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Maturity Dates of Notes Payable
Determine the maturity date and compute the interest for each of the following notes payable with add-on interest:
Use 360 days for calculations and round to the nearest dollar.
Date of note Principal Interest Rate (%) Term
a. August 5 $18,000 8% 90 days
b. May 10 11,400 7% 120 days
c. October 20 15,000 9% 45 days
d. July 6 7,500 10% 60 days
e. September 15 16,500 8% 60 days
For the maturity date, select the appropriate month using the drop-down menu and enter the correct day next to the month using the fill-in the blank answer box.
Maturity Date Interest
a. AnswerJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember Answer $Answer
b. AnswerJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember Answer Answer
c. AnswerJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember Answer Answer
d. AnswerJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember Answer Answer
e. AnswerJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember Answer
To determine the maturity date and compute the interest for each note payable with add-on interest, we need to consider the principal amount, interest rate, and term of the note. The calculations should be based on a 360-day year and rounded to the nearest dollar.
a. The note dated August 5 with a principal of $18,000, an interest rate of 8%, and a term of 90 days will mature on November 3. To calculate the interest, we multiply the principal by the interest rate and divide it by 360 days, resulting in $400.
b. The note dated May 10 with a principal of $11,400, an interest rate of 7%, and a term of 120 days will mature on September 7. The interest can be calculated by multiplying the principal by the interest rate and dividing it by 360 days, yielding $266.
c. The note dated October 20 with a principal of $15,000, an interest rate of 9%, and a term of 45 days will mature on November 4. The interest is computed by multiplying the principal by the interest rate and dividing it by 360 days, resulting in $187.
d. The note dated July 6 with a principal of $7,500, an interest rate of 10%, and a term of 60 days will mature on September 4. The interest is calculated by multiplying the principal by the interest rate and dividing it by 360 days, amounting to $125.
e. The note dated September 15 with a principal of $16,500, an interest rate of 8%, and a term of 60 days will mature on November 14. The interest is determined by multiplying the principal by the interest rate and dividing it by 360 days, equaling $366.
In conclusion, by considering the principal, interest rate, and term of each note payable, we can determine the maturity date and compute the interest using the add-on interest method based on a 360-day year.
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a. Maturity Date: November 3, Interest: $120
b. Maturity Date: September 7, Interest: $198
c. Maturity Date: December 4, Interest: $101
d. Maturity Date: September 4, Interest: $125
e. Maturity Date: November 14, Interest: $220
To determine the maturity date, we need to add the specified number of days to the given date of the note. For example, for note (a), the date of note is August 5 and the term is 90 days. Adding 90 days to August 5, we get November 3 as the maturity date.
The interest is calculated by multiplying the principal amount by the interest rate and the term (in years) divided by 360. For note (a), the interest is computed as $18,000 * 8% * 90/360 = $120. Similarly, the maturity dates and interest are calculated for each note payable based on the given information and the formula for add-on interest.
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Individually develop a questionnaire to investigate a certain business idea. You are allowed to choose a business question for which to fashion a questionnaire. For example, you could design a questionnaire to investigate whether a grocery store could work at Murdoch campus or to investigate whether selling alcoholic beverages at Starbucks is a viable business idea.1) What topic would be good for making into a questionnaire?
One good topic for creating a questionnaire to investigate a business idea is determining the demand for a new fitness center in a specific area.
To create a questionnaire, you can include the following steps:
1. Start with demographic questions: Ask about the age, gender, and location of the respondents to understand the target market for the fitness center.
2. Assess fitness habits: Inquire about the current exercise routines of the respondents, including the frequency and types of activities they engage in. This will help determine if there is a need for a fitness center in the area.
3. Measure interest: Ask about the respondents' interest in joining a new fitness center, including the types of facilities and services they would prefer, such as cardio equipment, weightlifting areas, group classes, or personal training.
4. Evaluate competition: Inquire about any existing fitness centers in the area, the services they offer, and the reasons respondents choose or do not choose to join them. This will help determine how to differentiate the new fitness center from competitors.
5. Determine pricing: Ask about the respondents' willingness to pay for a membership at the proposed fitness center. This will help establish competitive pricing strategies.
6. Additional considerations: Include any other relevant questions that can provide insights into the market demand, such as availability of parking, proximity to public transportation, or the presence of similar fitness facilities nearby.
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hey can i please have an introduction on life
expectancy
and explanations on the relationships between
the relationships:
-GDP Per Capita and Life Expectancy
-Unemployment Rate and Life Expectancy
-Health Expenditure and Life expectancy.
-Infant Mortality Rate and Life Expectancy
Life expectancy is a measure that reflects the average number of years a person is expected to live based on the current mortality rates in a specific population.
It is influenced by various factors such as healthcare, living conditions, lifestyle choices, and socioeconomic factors. Understanding the relationships between life expectancy and key indicators like GDP per capita, unemployment rate, health expenditure, and infant mortality rate can provide insights into the overall well-being and development of a society. GDP Per Capita and Life Expectancy: GDP per capita is often used as an indicator of a country's economic development and standard of living. Unemployment Rate and Life Expectancy: Unemployment rate represents the percentage of the labor force that is jobless and actively seeking employment.
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ASAP!!
What does a most-favored-nation (MFN) status mean?
a. A country is exempt from product standards that make it expensive for goods to be imported.
b. A country has special licensing agreements with U.S. corporations.
c. A country pays the same tariffs as those paid by all MFN countries.
d. A country has a special exemption from all tariffs in the United States.
Answer:
c
Explanation:
time is limeted
Which of the following steps should you take after attending a college fair?
A. Take a break from dealing with colleges for two weeks.
B. Call every college that was represented at the college fair.
C. Make a decision about which college to attend that night.
D. Continue to research colleges on your own.
Answer:
D
Explanation:
The steps that can be taken after the college fair is to continue researching colleges on your own. Therefore, Option D is correct.
What is research?Research can be defined as "creative and methodical activity done to improve the body of knowledge."
It entails gathering, organizing, and analyzing data in order to improve understanding of a subject or problem.
Therefore, The steps that can be taken after the college fair is to continue researching colleges on your own. Option D is correct.
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how are surety bonds different from insurance quizlet
The main difference between surety bonds and insurance is that surety bonds are designed to guarantee performance or fulfillment of obligations, while insurance is designed to protect against losses or damages.
Surety bonds and insurance are both designed to manage risk, but they operate in different ways:
Purpose: The primary purpose of a surety bond is to provide financial protection for one party (the obligee) in the event that the other party (the principal) fails to fulfill their obligations. In contrast, insurance provides financial protection to the policyholder against losses or damages.
Parties Involved: A surety bond involves three parties: the principal (the party who needs to fulfill an obligation), the obligee (the party who requires the obligation to be fulfilled), and the surety (the party who provides the financial protection). In contrast, insurance involves two parties: the policyholder and the insurer.
Risk Transfer: In a surety bond, the surety takes on the risk of the principal's failure to fulfill the obligation, and if the principal does not fulfill the obligation, the surety is responsible for paying the obligee. In contrast, insurance transfers the risk of loss or damage from the policyholder to the insurer, who assumes responsibility for paying out claims if a covered loss occurs.
Premiums: Surety bonds typically require the principal to pay a premium to the surety, which is a percentage of the total bond amount. Insurance premiums are typically based on the risk level of the policyholder and the amount of coverage needed.
Overall, the main difference between surety bonds and insurance is that surety bonds are designed to guarantee performance or fulfillment of obligations, while insurance is designed to protect against losses or damages.
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Which of the following ways is not something you can do to protect yourself against sending payments to the wrong person when using a p2p payment app or service
Use a PIN to access your P2P app or service. In this way we can do to protect ourselves against sending payments to the wrong person when using a p2p payment app or service.
What is P2P app or service?
Peer-to-peer services are platforms that link participants to a transaction directly, cutting out the middleman.
Peer-to-peer services use technology to reduce the transaction costs associated with asymmetries in information, enforcement, and trust that have historically been handled by relying on third intermediaries.
Peer-to-peer systems provide its customers with services including money processing, buyer and seller data, and quality assurance.
File-sharing platforms, such the music-sharing programme Napster, which debuted in 1999, helped popularise the peer-to-peer model of today. Millions of internet users were able to immediately connect, establish groups, and work together through the peer-to-peer movement to construct their own search engines, virtual supercomputers, and file systems.
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ACTIVITY 1
Multiple Choice: Choose the letter of the correct answer
1 It is all about discovering and satisfying your customers' needs and want while earning
a profit
A Marketing
B. Product C Promotion D Needs
2. These are the bundles of attributes and benefits designed to be offered to buyers to
satisfy their needs, wants, and demands
A Promotion B Products C Customer D Market
3 Making sure that they are specific and quantifiable so you can measure your progress
toward achieving them, belong to what step of marketing?
A Marketing objective B Identifying demographics C Defining place
4. What steps of marketing plan where you're referring to the entire set of activities that
inform people about your product/service?
A Marketing objective
B Choose your promotion strategy
C Develop a pricing strategy
5 Defined as the difference between what the customer gains from the product and what
the customers losses from the costs acquiring such a product
A Market
B Customer Value C Promotion
Answer:
A. Marketing.B. Products.A. Marketing objectiveB. Choose your promotion strategyB. Customer Value.Explanation:
Marketing is all about knowing what the customer wants and satisfying it by offering the relevant products.
Products are simply bundles of benefits that were designed to be able to satisfy the needs and wants of customers.
The marketing objectives specify what the goals need to be achieved when marketing so comparing reality against them helps show progress.
The promotion strategy shows the activities that will be undertaken during the marketing of your goods and services.
Finally, the customer value from a product is simply what benefit the customer received less the cost of receiving that benefit.
Nadeem is considering several expenses: getting his car fixed, buying the suit, or buying a new game console, Nadeem has enough cash on hand for two of these, but not all three. The trip to Las Vegas would require him to put charges on his card and pay them off over the next several months with interest. If you were a friend of Nadeems, how would you help him prioritize these expenses? Think about what Nadeem can afford right now and what he really needs. Also think about how he can get some of the more expensive things he wants without taking on too much debt.
Nadeem should prioritize his expenses and make responsible financial decisions.
First, I'd advise Nadeem to focus on essential needs, so getting his car fixed should be the top priority as it's crucial for transportation.
Next, between buying the suit and the game console, I'd suggest Nadeem consider the suit if it's necessary for work or an important event, making it a more pressing need than the game console. Since Nadeem has enough cash for two expenses, he can avoid taking on debt for now.
For the trip to Las Vegas, I'd recommend that Nadeem save money over time and plan the trip later when he can comfortably afford it without incurring interest charges.
By addressing immediate needs and saving for future wants, Nadeem can make responsible financial decisions.
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Your gross income is 10,000 a month before taxes, and income taxes are estimated at a rate of 20%. In addition, your debt is $2,000 per month. What is your monthly personal debt ratio.
A. 85%
B. 25%
C. 40%
D. 30%
I’m in between B and C because if you take away the 20% for taxes, you get 8,000 and 2000/8000 is 25%, BUT 2000 is 20% of 10000 and plus the 20% for taxes is 40%. What do I do?
Answer:
c because isnt 2000=20% of 10000 so 40%
Explanation:
write short notes by Napier bone
Answer:
Napier's bones is a manually-operated calculating device created by John Napier of Merchiston, Scotland for the calculation of products and quotients of numbers. The method was based on lattice multiplication, and also called 'rabdology', a word invented by Napier. Napier published his version in 1617.
Post-Assessment
Question 2 of 5
Why is buying a car considered "bad debt"?
It decreases in value over time
It increases your net worth as it build equity
It gives you transportation to and from your job
It is worth more than any other investment
Submit
Continue
E
The reason why buying a car considered "bad debt"is that It decreases in value over time. option A
What is bad debt?The term bad debt can be described as the amount of money that a creditor must write off as a result of a default on the part of the debtor in a case whereby the creditor has a bad debt on the books, then things turn to uncollectible and is recorded as a charge-off.
It should be noted that a case can be regarded as bad debt because the value of the asset you receive from the loan depreciates quickly however in some cases interest charges increase how the amount that is been paid for the vehicle. and in thius case cost is higher compare to what it would be if you'd purchased the car outright with cash.
Hence, option A is correct.
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which of the following terms is normal for a car loan?
a. 6-9 months
b. 3-5 years
c. 10-15 years
d. 1 year
Answer:
B
Explanation:
Answer:
1:d 2:c 3:c 4:a 5:c 6:d 7:b 8:d 9:d 10:b 11:c 12:a 13:c 14:b 15:c
Explanation:
which u.s. company is the largest private employer in the world?
Walmart, the largest private employer in the world, is headquartered in the United States.
With nearly 2.2 million employees, Walmart is the largest American employer. However, due to its global reach, only 1.3 million of those employed were in the United States.
Some of the companies, such as Walmart and McDonald's, primarily provide low-wage employment. Others, such as IBM and General Electric, are technological leaders, with workforces that are more highly skilled and well compensated.
Retailers are among the largest employers in the country. Walmart Stores, the parent company of Walmart and Sam's Club, employs approximately 2.2 million people worldwide and is the largest private employer in the United States.
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what is the npv of a project expected to generate $1,000 a year for 5 years assuming a discount rate of 10% and an initial outlay of $3,250?
$540.79 is the NPV of a project expected to generate $1,000 a year for 5 years assuming a discount rate of 10% and an initial outlay of $3,250.
What Is Net Present Value (NPV)?The difference between the present value of cash inflows and outflows over time is known as net present value (NPV). The profitability of a proposed investment or project is examined using NPV in capital budgeting and investment planning.
NPV is the outcome of computations that determine the current value of a future stream of payments using the appropriate discount rate. Projects that have a positive NPV are often worthwhile pursuing, but those that have a negative NPV are not.
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Differentiate the differences between a Vickrey auction and an
English auction?
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The market capitalization rate for Admiral Motors Company is 12%. Its expected ROE is 15% and its expected EPS is $7. The firm's plowback ratio is 40%.
a. Calculate the growth rate. (Input your answer as a nearest whole percent.)
Growth rate
6:%
b. What will be its P/E ratio? (Do not round intermediate calculations.)
P/E ratio
%
a. the growth rate is 6%.
b. the P/E ratio is approximately 13.333 (rounded to three decimal places).
To calculate the growth rate, we can use the formula:
Growth rate = Retention ratio × Return on Equity
Given that the plowback ratio (retention ratio) is 40% and the expected ROE is 15%, calculate the growth rate as follows:
Growth rate = 0.40 × 0.15 = 0.06 or 6%
Therefore, the growth rate is 6%.
To calculate the P/E ratio, we can use the formula:
P/E ratio = Market capitalization rate / (ROE - Growth rate)
Given that the market capitalization rate is 12%, the expected ROE is 15%, and the growth rate is 6%, calculate the P/E ratio as follows:
P/E ratio = 0.12 / (0.15 - 0.06) = 1.2 / 0.09 = 13.333...
Therefore, the P/E ratio is approximately 13.333 (rounded to three decimal places).
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How do you think business impact suppliers and investors in terms of capital and income?
Answer:
It is important to select suppliers carefully as suppliers can affect the businesses they provide goods to. If a supplier provides a poor quality product to a firm, it may affect the firm's reputation as the firm will need to use the goods or sell them onto their customers.
Explanation:
Suppliers are the most important link in the business chain. They can never be separated from the business itself as they act as the most important intermediary for owners and consumers.
On the other hand, investors get impacted the most as the share price of the companies are hugely impacted by the performance of the business and are appreciated when the business posts excellent results in its annual or quarterly period.
A business can impact suppliers in a way that if the manufacturers are not ready with the finished goods, the supply chain will automatically be stopped which will reduce sales by a good number.On the other hand, Investors are the owners of the business for the part of no. of shares being held by them. However the management of the business is in the hands of the managers and if they don't run the business well, the stock prices would decline resulting in dismay for the investors.Suppliers as well as investors are directly related to the performance of the company as efficient management by the business leads to betterment of them and vice versa.Hence, the owners as well as the investors are directly affected with the performance by the management of the business and are equally acquainted to the business.
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Kim is the chief executive officer of Hayden Corp. He believes that it is important for top management to inspire employees to work toward organizational goals. As a result, he develops an incentive plan to reward high-performing employees and boost their morale. In the context of management functions, Kim is engaged in _______. planning organizing leading controlling
Establishing a clear vision, encouraging teamwork, and motivating and inspiring people to achieve common objectives.
Kim is engaged in leading in the context of management functions.
The CEO is responsible for the overall strategic and operational performance of an organization, including responsibility for the creation of shareholder value, stakeholder satisfaction, and the development and implementation of long-term strategies that align with the company's mission, vision, and values.
In the given case, Kim is the CEO of Hayden Corp, who believes that it is necessary for the upper management to inspire employees to work towards organizational goals.
He then develops an incentive plan that would reward high-performing employees and boost their morale.
Leadership is one of the four management functions that involve directing and motivating staff to work together and accomplish organizational objectives.
It's about establishing a clear vision, encouraging teamwork, and motivating and inspiring people to achieve common objectives.
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In order to leverage social media ads, where you choose to advertise your product/service should also be based on your target audience and what is __________ amongst that audience.
In order to leverage social media ads, where you choose to advertise your product/service should also be based on your target audience and what is relevant and engaging to them.
By analyzing their demographics, interests, and online behaviors, you can identify the social media platforms or channels that align with their preferences. This ensures that your ads are seen by the right people, in the right context, maximizing their relevance and impact.
Additionally, staying attuned to trending topics, popular hashtags, and viral content within your target audience's online communities allows you to tap into what is currently captivating their attention.
By combining audience insights with relevant content, you can create compelling ad campaigns that drive engagement, increase brand visibility, and ultimately yield positive results.
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Suppose a lite insurance company selis a $200,000 1-year lecms iffe insurance policy to a 20yoat-old female for $230. According to the Nabional Vial Statistics Report. 58(21) the probablity that the female survives the year is 0999544 Compute and interpret the expected value of this pollcy to the insurance company The expected valje is s (Round to the nearest cent as needed) Which of the folowing interpretations of the expected valise is correct? Select the correct choice below and fir in the answer box to complete your choice (Round to the nearest cent as needed) A. The insurance company expects to make a maximum profit of 5 on every 20 -year-old fermale it insures for 1 year. B. The insurance company expects to make a profit of : on every 20-year-old female it insures for 1 month C. The irsurance company expecis to make a minimum proft of A on every 20 -year-old female it insures for 1 month D. The insurance compary empecta ta make a profit of 3 on every 20 -yeat-old female it inscires for 1 year
The expected value of this policy to the insurance company is $229.95. The correct interpretation of the expected value is "The insurance company expects to make a minimum profit of $229.95 on every 20-year-old female it insures for 1 year." Therefore, the correct option is C.
Expected value of this policy to the insurance company can be computed as follows:
Expected Value = (Probability of Survival * Amount Paid by the Policy Holder) - (Probability of Death * Amount Paid to the Policy Holder)
Probability of survival is given as 0.999544 and hence the probability of death is 1 - 0.999544 = 0.000456
Amount paid by the policyholder is given as $230 and amount paid to the policyholder in case of death is $200,000
Expected Value = (0.999544 * $230) - (0.000456 * $200,000)
Expected Value = $229.95
The expected value of this policy to the insurance company is $229.95. The correct interpretation of the expected value is "The insurance company expects to make a minimum profit of $229.95 on every 20-year-old female it insures for 1 year." Therefore, the correct option is C.
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