Answer: Comparative advantage
Explanation:
A comparative advantage occurs in a situation when two or more competitive manufacturing companies producing similar product are found in a market, and one of the companies is able to produce the product at a lower cost than their competitors.
Davey has a comparative advantage over Rebecca in producing candles.
In an economy, comparative advantage is defined as the ability to produce a certain good at a lower cost than its relative trading partners.
The correct statement of the blank is:
If Davey can produce candles at a lower opportunity cost than Rebecca then Davey has a comparative advantage in producing candles relative to Rebecca.
Comparative advantage is the situation in which the two or more competitive partners produce a similar product at different price rates. The competitor or seller producing the service or good at a lower cost than the other partners will have a comparative advantage.
For instance, Davey has a comparative advantage over Rebecca, as he can produce candles at a lower price than Rebecca.
Therefore, the correct answer is comparative advantage.
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A sales associate employs a licensed personal assistant. The assistant will prepare comparative market analyses (CMAs), design property flyers, hold open houses, and prospect for listing appointments. The assistant will be paid a salary of $12 per hour and 20 percent of the commissions received by the sales associate. Which method of payment will satisfy all legal requirements?
a. The associate may pay the salary and must withhold taxes on the salary, but the broker must pay commissions.
b. The broker must pay both the salary and 20 percent of the commissions, giving the remainder of the commission to the sales associate.
c. The sales associate need not withhold taxes because the personal assistant is an independent contractor.
d. It is not legal to pay a personal assistant, whether licensed or unlicensed, a portion of a real estate commission.
Answer:
A) the associate may pay the salary and withhold taxes, but the broker must pay commissions.
Explanation:
The sales associate works for the broker and his/her assistant works for him. Therefore the sales associate is responsible for paying the assistant's salary and withhold taxes since he is the employer. But since the assistant will also earn 20 percent of the sales associate's commissions, that should be paid by the broker directly (80% to the sales associate and 20% to the assistant).
Final answer:
The sales associate can pay the assistant a salary and withhold taxes, but the broker must pay the commissions to maintain legal compliance in the real estate industry. Therefore, the correct answer to the original question is: a. The associate may pay the salary and must withhold taxes on the salary, but the broker must pay commissions.
Explanation:
The correct method of payment that satisfies all legal requirements is that the sales associate may pay the salary and must withhold taxes on the salary, but the broker must pay any commissions. This aligns with the fact that in most real estate agencies, the paycheck of sales employees is a combination of a base salary and commissions. Commissions, which are usually a percentage of sales volume or profits generated, are typically handled by the brokerage firm and are governed by strict industry regulations to ensure legal compliance.
Regarding the employment of a personal assistant in the real estate industry, it is essential to understand that while the sales associate can pay a salary to the assistant, the commission aspect has to go through the employing broker. This is because in the real estate industry, only licensed brokers are permitted to handle commissions as they are the ones who actually engage with the clients under agency agreements. Paying a commission to an assistant directly could potentially violate state laws governing real estate transactions.
This ensures that the compensation structure is in line with legal standards, and both the assistant and sales associate are appropriately compensated for their services.
A contract between Laser Maintenance, Inc., and Medical Vision Operation Corporation contains a clause stating that any assignment is "void." This ordinarily prohibits
a. any assignment.
b. no assignment.
c. only an assignment of contract rights to personal services.
d. only an assignment that would change the obligor's risk.
Answer:
The correct answer is A
Explanation:
Void is the term of law, which is defined as the contract is no longer valid or right and can not be enforced under the federal or state laws.
It might involve illegal matters and any of the party to the contract is not competent to enter into legal agreement.
So, in this case, contract contain a clause stating that any assignment is void. Therefore, it prohibits any assignment.
In the loanable funds market, – supply funds to – either directly or indirectly. A direct method is to buy –. The most common indirect method is to deposit money with –, which, in turn, make loans to borrowers. banksthe governmentthe borrower’s productsstocks and bondssaversborrowers.
Answer:
The correct answer is Savers, Borrowers, Stocks and Bonds, Banks
Explanation:
The market for loanable funds is one in which loanable funds are traded and, therefore, determines the interest rate of the funds based on supply and demand.
Go ahead that the market of loanable funds is a market. It seems obvious, but this fact greatly facilitates their understanding and explanation. Markets, as a general rule, are balanced according to the law of supply and demand. Now what is traded? Money is traded. Specifically, loanable funds.
Loanable funds, as defined by economic theory, are those funds available to lend in an economy. In an economy we can differentiate between those who "have" money "(savers) and those who need money (investors).
Technically, savers (who have money left over) are called surplus agents. Meanwhile, investors (who lack money) are known as agents with deficits.
Many years ago G bought a life policy. Since then G decided to replace that coverage with a policy that was purchased firsthand through the insurer and then delivered constructively. This is an example of:________
Answer:
A direct response sales
Explanation:
From the statement, it can be seen that G bought the life policy alone and made his decision to replace that coverage with a policy that was purchased firsthand through the insurer and delivered. This shows that an agent was not used in the sale or delivery of the policy and hence this depicts a direct response transaction between the insurer and the client G.
If Rob and Lori purchased a home for $250,000 with an additional $4,000 in related purchase costs and then added a swimming pool at a cost of $30,000 and a new air conditioning system at a cost of $5,000, what would their adjusted basis be when they sell the home?
Answer:
$289,000
Explanation:
The computation of the adjusting basis in case of sale of the home is shown below:
= Purchase value of home + additional purchase cost + cost of swimming pool + new air conditioning system
= $250,000 + $4,000 + $30,000 + $5,000
= $289,000
In case of sale of the home, we consider all the costs which are given in the question as it related to the sale of the home
For a particular good, a 2 percent increase in price causes a 12 percent decrease in quantity demanded. Which ofthe following statements is most likely applicable to this good?a. There are no close substitutes for this good.b. The good is a luxury.c. The market for the good is broadly defined.d. The relevant time horizon is short
The statement that is applicable to the particular goods is Luxury goods
In economist view, the luxury good refers to the goods that such demand on it grows more and faster than an increase of the income of a potential buyers.
In this case here, there is a 2% increase in price and that caused a 12% decrease in quantity demanded, that means that the income of the consumers does not grows as the price increases.
Such type of goods can be said to be a luxury goods.
Therefore, Option A. is correct because it is the most applicable to the particular goods.
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The good exhibits elastic demand - a greater proportional change in demanded quantity than price. Given this, it's likely a luxury good because consumers tend to buy less of such goods when the price increases. Option B is correct.
Explanation:The question pertains to the concept of price elasticity of demand in economics. Specifically, this is an example of elastic demand, which demonstrates a greater proportional change in quantity demanded than the percentage change in price. In this case, a 2 percent increase in price led to a larger 12 percent decrease in quantity demanded, indicating that the good is highly responsive to changes in price.
Given this characteristic, the good in question is most likely a luxury good. Luxury goods are non-essential goods that consumers buy less of when the price increases. Therefore, the correct answer is (b) 'the good is a luxury.'
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In calculating the CPI, a fixed basket of goods and services is used. The quantities of the goods and services in the fixed basket are determined by
a. surveying consumers.
b. surveying sellers of the goods and services.
c. working backward from the rate of inflation to arrive at imputed values for those quantities.
d. arbitrary choices made by federal government employees.
Answer:
Answer is option A i.e. surveying consumers.
Explanation:
In the calculation of CPI, the quantities of the goods and services in the fixed basket are determined after conducting the various household expenditure survey of the consumers who actually use the goods and services. Therefore, we can say that these quantities are determined after surveying the consumers.
A firm's capital structure refers to the________.
A. division of a firm's assets into current and fixed assets.
B. amount shareholders have invested into the firm.
C. types of fixed assets owned by the firm. mix of debt and equity used to finance the firm's assets.
D. amount of cash and cash equivalents held by a firm.
Answer:
C. types of fixed assets owned by the firm. mix of debt and equity used to finance the firm's assets.
Explanation:
Capital structure refers to the combination of equity and debts that are used to finance a company's assets and operations. Debts are borrowed funds and may include loans and bond. Equity is the owner's funds and maybe in the form of shares and retained earnings. The capital structure consists of both long term and short-term debts.
The ratio of debts to equity helps evaluate how risky a company's borrowing practices are. Investors consider a company with a high debt-to-equity ratio riskier. A company's optimal capital structure is the business's ideal balance between equity and debt financing.
The capital structure of a firm refers to the combination of debt and equity used to finance its operations and growth.
Explanation:A firm's capital structure refers to the mix of debt and equity used to finance the firm's assets. In simple terms, it represents how a firm finances its overall operations and growth by using different sources of funds, which primarily include debt (borrowed money) and equity (owned capital). For instance, if a firm is financed by 50% debt and 50% equity, the capital structure is known as 50:50. The mixture of a firm's debt and equity is a critical element affecting its financial stability and growth, and it can differ from firm to firm based on their operational strategy and financial goals.
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The U.S. money supply is currently defined by the Federal Reserve system in ___________ aggregate forms..
Answer:
two
Explanation:
The Fed defines money supply in two major monetary aggregates: M1 and M2.
The Fed considers M1 to be money that is held and circulating outside of banks, and does not include currency in bank vaults (including the Fed banks). M1 includes only circulating money and checkable deposits.
M2 includes M1 plus savings deposits, retail money market accounts and small denomination time deposits.
An economist defines efficiency as: a. the maximization of inputs using available resources. b. the maximization of revenue from available resources. c. the creation of a surplus using available resources. d. the maximization of output from available resources.
Answer:
d. the maximization of output from available resources.
Explanation:
Efficiency is a situation where every resource is used in an optimal way to give the best possible result and eliminate waste. Efficient production is one with the lowest costs. Economic efficiency is, therefore, the maximization of scarce resources to achieve the most economic benefit or output to consumers.
Efficiency is a relationship between inputs and output. It involves around how to use less inputs to get more value in the output. Economic efficiency focuses on the value obtained rather than quantities. It will include efficient production, efficient distribution, and efficient consumption of goods and services.
Nick has a policy that the insurer can cancel when he turns 65. Which type of policy is it?
Answer: Conditionally renewable
Explanation:
Conditionally renewable is the type of policy offered by companies to their clients to not renew upon reasons that are stated in the contract.
Any terms of trade within the limits set by domestic opportunity costs will be mutually harmful, because each country tries to push the other as close to the limits of the terms of trade as possible.
Answer: "because each country tries to push the other as close to the limits of the terms of trade as possible"
Explanation: This means that the opportunity costs of each country is being considered and cannot be violated by moving past the limits of the terms of trade. In other words, each country is poised to gain by not failing to keep the alternative(opportunity cost) goods bought from the other country equal or less in value to the sales to that country.
Oligopoly is a market in which a _____ number of _____ firms compete.
Answer:
Oligopoly is a market in which a small number of interdependent firms compete.
Explanation:
In an oligopoly, a small number of firms dominate a market and depend on each other as they make decisions.
Before a firm makes decisions in an oligopoly, it has to consider the actions of other competing firms and possible reactions to its decision.
Firms may also choose to compete against rivals or to work together, depending on the intended goal.
All un-used investigational agents are expected to be returned to the sponsor at the:________.
Answer:
the correct answer is Termination site visit.
Explanation:
All un-used investigational agents are expected to be returned to the sponsor at the:Termination site visit..
good luck
The _____ is the belief that the firm should dedicate all of its planning, policies, operations, and efforts to the satisfaction of the customer
Answer:
The answer would be MARKETING
Explanation:
"Marketing is not the art of selling what is offered, but of knowing what should be sold"
It is important to take into account the 4 p´s
1. Product Policies
2. Price Policies
3. Distribution Policies
4. Promotion Policies
Influential factors can be:
1. Political Factors
2. Legal Factors
3. Cultural Factors
4. Economic factors
5. Demographic Factors
6. Natural resources
7. Socio-Economic Structure
Answer:
Marketing concept
Explanation:
Marketing concept is a philosophy which led to the belief that consumers are driving forces that are important to the success of businesses. As such, firms or companies have to first determine or assess the needs of consumers.
When the needs have been determined, a firm or company can design and dedicate plans, policies, efforts and operations towards satisfying customers needs in ways that would make the firm or company beat competition from their competitors.
SafeTransact is an Internet-based company that specializes in the secure electronic transfer of funds between businesses and clients. It uses some Internet tools to ensure the security of the online transactions. In this scenario, SafeTransact is a(n) _____.A. expert system
B. cybermediary
C. intranet
D. data warehouse
Answer: Cybermediary
Explanation:
Safe transact acts as a Cybermediary between two parties, one making a payment and the other receiving the payment.
A Cybermediary is an online intermediary that stands in-between two parties when an internet transaction is been carried out.
A restaurant is being sued because a customer claims to have found a bug in her chili. The company's lawyers believe there is only a remote possibility that the lawsuit will result in an actual liability. Which of the following actions should be taken by the company's management?A. The situation should be described in a note to the financial statements.
B. The possible liability should be ignored
C. The liability should be estimated and recorded as an expense.
D. Management should consider resigning
Answer:
My best guess is C, but i'm no professional.
Explanation:
The date a cash dividend becomes a binding legal obligation to a corporation is theA. payment date.B. record date.C. earnings date.D. declaration date
Answer:
D. declaration date.
Explanation:
The dividend payment becomes legal obligation, when it has been declared by Directors and approved by shareholders in annual general meeting of the company.
The date on which the upcoming dividend payment is announced and declared by the board directors of the company is known as declaration date.
Therefore, the answer is D. declaration date.
The date a cash dividend becomes a binding legal obligation is the declaration date, which is when the board of directors of a corporation officially approves the payment of dividends to shareholders.
Explanation:
The date a cash dividend becomes a binding legal obligation to a corporation is the declaration date. This is the date that the board of directors of a corporation officially approves the payment of a dividend to shareholders.
Dividends are direct payments from a firm to its shareholders, and a corporation is a business owned by shareholders who have limited liability for the company's debts, yet receive a share of the company's profits. After this declaration date, the dividend becomes an outstanding debt owed by the corporation; therefore, the corporation is legally obligated to make the dividend payment.
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A major grocery store chain switches from bagging groceries in paper sacks to bagging them in plastic bags. As a result, the grocery chain demands more plastic bags than are available at the current market price. As a result: a. the market price for paper sacks is likely to increase. b. the market price for plastic bags is likely to increase. c. the quantity of paper sacks purchased by the chain is likely to increase. d. none of the above
Answer: B. The market price for plastic bags is likely to increase.
Explanation: one of the theory of Demand states that there is going to be a rice in price of a given product,of the demand of that product increases without a corresponding rice in the supply of that product.
At the current market price,the demand has increased due to the switch from paper sacks to plastic bags. Since the Demand is greater than Demand manufacturers will likely increase the price of the plastic bags (INFLAMMATION),this likely to happen in a free market economy where market forces such as Demand,Supply,price influence market trends.
ANSWER:
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(if u don’t understand its b)
Online, immediate status updates from Airlines about their flights is an example of e-commerce's effect of:
Select one:
a. Elimination of distance and routinization
b. Elimination of distance and searching
c. Homogenization of time and sort/re-sorting
d. Homogenization of time and routinization
e. Homogenization of time and searching
Answer:
D) Homogenization of time and routinization
Explanation:
E-commerce software has changed a highly customized activity (determining where and how an individual could fly to) and reduced it to a simple routine. Customers can check their flight status whenever they want. They do not have to wait to contact a travel agent or even wait for a travel agency to open. Therefore time has been homogenized and transactions routinized.
All of the following terms are the same regardless of if the policy is life insurance or an annuity, except:_______.
Both life insurance and annuities are financial products offered by insurance companies for different purposes: life insurance provides a death benefit while annuities provide scheduled payments for retirement. The term that could differ between the two may be 'death benefit' as it is specific to life insurance.
The question pertains to the terms that are common to both life insurance policies and annuities, with one exception being sought. Both life insurance and annuities are financial instruments offered by insurance companies. Life insurance provides a death benefit to beneficiaries upon the death of the insured, while annuities offer a series of payments at predetermined intervals during the life of the annuitant, typically for retirement purposes.
In the 1970s and 1980s, insurance companies sought to innovate with adjustable-rate policy loans and variable annuities to reflect the increasing financial sophistication of the market and to provide policyholders with more flexibility and potential benefits aligned with market conditions. Policy loans are based on the cash value of a whole life insurance policy and were traditionally set at a fixed rate.
One potential exception in the terms used for both policies might be the concept of the 'death benefit' that is specific to life insurance, as it is payable upon the death of the insured, differentiating it from annuities which pay while the annuitant is alive.
Variable annuities and life insurance are mostly similar, except for death benefits.
Variable annuities and life insurance share similarities, except in the case of death benefits. In both, the idea is to provide a source of income or financial security over time through scheduled payments or a lump sum. However, the key difference lies in the payout scenario when it comes to the death of the insured.
In which one of the following instances is rivalry among competing sellers notmore intense?
A. When certain competitors are dissatisfied with their market position and make moves to bolster their standing
B. When strong companies outside the industry acquire weak firms in the industry and launch aggressive moves to transform their newly-acquired competitors into stronger market contenders
C. When competitors are fairly equal in size and capability
D. When the products of rivals are weakly differentiated, buyer switching costs are low and market demand is growing slowly
E.When there are so many industry rivals that the impact of any one company's actions is spread thinly across all industrymembers
Answer: E.When there are so many industry rivals that the impact of any one company's actions is spread thinly across all industry members
Explanation:
The more the number of players in an industry the more it gets congested and especially for the competing sellers. The decision for increasing or reducing price is met by follower firms to do the same thing. It gets less competitive because you know all the players in the industry would be following the same practices and doing the same thing.
With numerous competitors in a market, the actions of individual firms are diluted, lessening the intensity of rivalry. This contrasts with conditions like equal competitor size and capacity, aggressive market position moves, and weak product differentiation and slow market growth, which fuel competition.
Explanation:In this scenario, rivalry among competing sellers is likely to be least intense in the instance of option E: When there are so many industry rivals that the impact of any one company's actions is spread thinly across all industry members. When a market is saturated with numerous competitors, the actions of any single firm are diffused across the marketplace, reducing the palpability of rivalry. In contrast, the presence of intense competition is more evident in scenarios such as when competitors are of equal size and capacity (option C), when companies take aggressive action to improve their market standing (options A and B), and when weak product differentiation and slow growing demand maintain friction among rivals (option D).
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A forecast that addresses the business cycle by predicting planning indicators is:______A. an environmental forecast.B. a technological forecast.C. an economic forecast.D. a demand forecast.
Answer:
The correct answer is C. an economic forecast
Explanation:
A forecast that addresses the business cycle by predicting planning indicators is an economic forecast
GOOD LUCK
Answer:
dunno
Explanation:
"If a customer wishes to purchase an initial public offering of a non-exempt security, then the customer must receive a"
Answer:
A final prospectus at or before confirmation of sale
Explanation:
The final prospectus is the final version for a public offering of a non-exempt security that should be delivered to customers at, or prior to, confirmation of sale.
Automatic stabilizers refer to:
A) the money supply and interest rates that automatically increase or decrease along with the business cycle.
B) government spending and taxes that automatically increase or decrease along with the business cycle.
C) changes in the money supply and interest rates that are intended to achieve macroeconomic policy objectives.
D) changes in federal taxes and purchases that are intended to achieve macroeconomic policy objectives.
Answer:
B) government spending and taxes that automatically increase or decrease along with the business cycle.
Explanation:
The two most common automatic stabilizers are: income taxes and unemployment benefits.
When the economy is strong, people make more money, and income tax revenue automatically increases.
On the contrary, when the economy is weak, or in recession, people earn less, and more of them are unemployed. Unemployment benefits therefore increase accordingly.
The English economist William Stanley Jevons described a world tour during the 1880s by a French singer, Mademoiselle Zelie. One stop on the tour was a theater in the Society Islands, part of French Polynesia in the South Pacific. She performed for her usual fee, which was one-third of the receipts. This turned out to be three pigs, 23 turkeys, 44 chickens, 5000 coconuts, and "considerable quantities of bananas, lemons, and oranges." She estimated that all of this would have had a value in France of 4000 francs. According to Jevons, "as Mademoiselle could not consume any considerable portion of the receipts herself, it became necessary in the meantime to feed the pigs and poultry with the fruit."
1. No. The goods are only a medium of exchange and store of value.
2. No. The goods are not a medium of exchange.
3. No. The goods are not a store of value.
4. Yes. The goods fulfill all four functions of money.
Answer:
2) No. The goods are not a medium of exchange.
3) No. The goods are not a store of value.
Explanation:
The goods that Mademoiselle Zelie received were not a medium of exchange and are not a means for storing value. Maybe they could qualify as a medium of exchange for local residents, but not for Mademoiselle Zelie.
The four functions of money are:
serve as a medium of exchange serve as a unit of accountserve as a store of valueserve as a standard of deferred paymentIf the current price of a product is below the market equilibrium price, there is ________ of this product.
When the current price of a product is below the market equilibrium price, it suggests a shortage of the product because supply cannot meet the increased demand.
If the current price of a product is below the market equilibrium price, it means there is a shortage of this product. When the price of a product is less than the equilibrium price, the demand for the product exceeds the supply. This is because at a lower price, consumers tend to buy more of the product, but producers are unwilling to supply as much because the price is not high enough to cover their costs, resulting in a shortage.
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If a product's price is below market equilibrium, there is an excess supply. This can occur when factors such as increased production or declining demand force the market price to drop below the cost of production.
Explanation:If the current price of a product is below the market equilibrium price, there is an excess supply of this product. This happens because producers are willing to supply more at the higher equilibrium price than consumers are willing to buy, resulting in an surplus of goods.
Let's take an example of a market situation. When the demand for a product shifts back to the left or supply shifts out to the right, the market price can drop to low levels—sometimes even below the cost of production. An instance would be when a store has a going-out-of-business sale and sells goods at prices below the cost of production. This could drive the market price down below their cost of production and is a manifestation of market dynamics.
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A truck is purchased on credit. For this transaction, identify the effect on the accounting equation. a. Liabilities increase and owners' equity decreases. b. Liabilities decrease and assets decrease. c. Assets increase and owners' equity increases. d. Assets increase and liabilities increase.
Answer:
d. Assets increase and liabilities increase.
Explanation:
When a truck is purchased on credit, since cash is not paid, the cash account is not involved.
This represents an increase in asset while a liabilities in form of an obligation to pay for the asset also arise.
As such, there is an increase in asset and the liabilities balance.
Therefore, the right option is d. Assets increase and liabilities increase.
Justin, age 66, paid $6,000 in qualified medical expenses in 2019 and took an $8,000 Archer MSA distribution during the year. What tax penalty will apply with respect to the excess distribution?
Answer:
No tax penalty will apply with respect to the excess distribution
Explanation:
Data provided in the question:
Age of Justin = 66 years
Qualified medical expenses in 2019 = $6,000
Archer MSA distribution taken during the year = $8,000
Now,
No tax penalty applies to with respect to the excess distribution for an individual whose age is over 65 years on the records.
Here,
The age of Justin is 66 years i.e over 65 years.
hence,
No tax penalty will apply with respect to the excess distribution
No tax penalty will apply with respect to the excess distribution
Given that,
Justin age is 66 years.Qualified medical expenses in 2019 = $6,000Archer MSA distribution taken during the year = $8,000Based on the above information, the information is as follows:
No tax penalty should be applied to the excess distribution for an individual whose age is over 65 years on the records.Here in the given case,
The age of Justin is 66 years i.e more than 65 years.
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includes all the activities in selling goods or services directly to final consumers for personal, non-business use.
a. Wholesaling
b. Retailing
c. Procurement
d. Promoting
e. Warehousing
Answer: Option B
Explanation: In simple words, retailing refers to the process in which an organisation makes their produced goods or serve to the end consumer efficiently. The retailing adds the value of the commodity by providing it to the end consumer more easily as everyone would not be able to collect the desired commodity directly from supplier.
Any business unit that is involved in the activity of purchasing the goods and selling the goods further for a margin is involved in retailing process. Retailer usually collects its inventory from the whole seller appointed by the producer.