your dollar profit on this transaction is $5,248.75 at the corn price of 465.500.
To calculate the profit, we need to know the difference between the selling price and the buying price.
Each futures contract for corn represents 5,000 bushels of corn, so selling 19 futures contracts means you sold 19 x 5,000 = 95,000 bushels of corn.
Assuming the high price of the day was 520.750, the total value of the 95,000 bushels of corn sold would be:
95,000 x 520.750 = $49,371.25
When you closed your position at 465.500, the total value of the 95,000 bushels of corn would be:
95,000 x 465.500 = $44,122.50
To calculate the profit, we need to subtract the total value at the buying price from the total value at the selling price:
$49,371.25 - $44,122.50 = $5,248.75
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Which term applies to common stock?
A. convertible
B. redeemable
C. non-negotiable
D. non-callable
A common stock is a type of security that represents ownership in a corporation. The term that applies to common stock is "non-callable," meaning that the issuer of the stock cannot call it back or force the holder to sell it back to the issuer.
When an individual owns a common stock, they own a small portion of a corporation. Common stockholders are considered to be partial owners of a company, and as such, they are entitled to a share of the profits and assets of the company. These profits are typically paid out in the form of dividends, although the company may choose not to pay dividends in any given year.
"Non-callable" means that the issuer of the common stock cannot call it back or force the holder to sell it back to the issuer. This is in contrast to callable bonds, which give the issuer the right to call the bond back at a specified date and price.
In summary, common stock represents ownership in a corporation, and it is non-callable, meaning that the issuer cannot force the holder to sell the stock back to the issuer.
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Common stock is non-callable, meaning it cannot be redeemed by the issuer prior to maturity. It is also non-convertible and non-negotiable. Therefore, the answer is option D.
Whay is common stock?Common stock is a type of equity security that represents ownership in a corporation. It is the most common type of stock issued by companies and gives shareholders the right to vote on corporate matters, receive dividends, and share in the company's profits.
One of the key characteristics of common stock is that it is non-callable. This means that the company cannot force shareholders to sell their shares back to the company at a predetermined price. This is in contrast to callable preferred stock, which gives the company the right to repurchase shares from shareholders at a specified price and time.
In summary, the term "non-callable" applies to common stock, as it indicates that the company cannot force shareholders to sell their shares back to the company.
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you are interviewing assistants for your role as an emergency manager and one of the interviewing requirements is communication. you ask each interviewee to demonstrate announcing the evacuation of the building. on what will you focus?
Asking each interviewer to perform declaring the building's evacuation in a calm, clear voice will help you focus.
Who conducts the interviews with the subjects?Interviewees give a self-introduction and attempt to justify why they are the best choice for the job. However, interviewers act as representatives of their business or client and work to select the best candidates or positions by using smart questioning.
What is an interviewer's job description?The interviewer is indeed the person in charge of carrying out the interview, which entails presenting the questionnaires, asking the questions, listening to the interviewees' responses, and recording them is accordance with the and rules outlined in this manual.
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one of the primary goals of a good eprocurement system is to ensure efficient information transitions between the materials users, the purchasing personnel, and the suppliers. true false
True. One of the primary goals of a good e-procurement system is to ensure efficient information transitions between the materials users, the purchasing personnel, and the suppliers.
E-procurement is a digital trading process in which goods and services are bought and sold over the Internet. This process uses the vendor's closed system.
This means that only registered customers can use it and make use of it. Implementing e-procurement creates a direct link between suppliers and buyers and facilitates business-to-business (B2B) or business-to-consumer (B2C) processes such as emails, invoices, purchase orders, and quote optimization.
Helps streamline. As e-procurement is an online business activity, networked systems and web interfaces are used to operate the supply he chain.
The e-procurement process is a development in the 1980s that grew out of the introduction of Electronic Data Interchange (EDIT), a method of describing the transfer of data and information from one system to another.
Using EDI principles, electronic procurement allows companies to create online catalogs for their suppliers.
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Which time-series model uses BOTH past forecasts and past demand data to generate a new forecast? a. exponential smoothing b. naive c. weighted moving average d. trend projection
Time series forecasting is necessary for prediction issues with a time component, and forecasts are made using models fitted to past data.
By forecasting, what do you mean?
When determining the direction of future trends, forecasting is a technique that makes educated projections using historical data as inputs. Businesses use forecasting to choose how to spend their allocated funds or make plans for impending expenses. Forecasts frequently contain forecasts that indicate how one variable changes another over time. Using expected sales data for each quarter of the year as an example, a sales forecast may indicate how much money a company might spend on advertising.
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the uncertainty that exist due to portion of demand that the supply chain is required to meet is the question 6 options: average forecast error implied demand uncertainty demand uncertainty rate of strategic uncertainty
The uncertainty that exists due to the portion of demand that the supply chain is required to meet is the implied demand uncertainty.
Demand uncertainty refers to the variability or unpredictability of customer demand for a product or service, which creates uncertainty in the supply chain. The portion of demand that the supply chain is required to meet can affect the level of demand uncertainty, as well as the level of risk and complexity in the supply chain. Therefore, the uncertainty that exists due to the portion of demand that the supply chain is required to meet falls under the category of demand uncertainty.
Rate of strategic uncertainty refers to the degree of unpredictability or change in the competitive environment or market conditions. Implied demand uncertainty refers to the level of uncertainty that is implied by the forecasts or estimates of future demand. Average forecast error refers to the difference between the predicted or forecasted demand and the actual demand.
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complete question:
The uncertainty that exists due to the portion of demand that the supply chain is required to meet is the
A) rate of strategic uncertainty.
B) demand uncertainty.
C) implied demand uncertainty.
D) average forecast error.
E) none of the above
if a firm produces a product that has easily available variable inputs, its supply curve will be: perfectly elastic. relatively flat. relatively steep. perfectly inelastic.
A corporation manufacturing a good with easily accessible variable inputs will have a supply curve that is comparatively flat.
The supply curve shows how the cost of a good or service relates to how much is provided over a given length of time. In a typical situation, the price will be displayed on the left vertical axis and the quantity delivered will be displayed on the horizontal axis. In the event that a variable other than price or quantity changes, a new supply curve must be created. Imagine, for example, that some new soybean growers enter the market, clearing land for cultivation while increasing the area used for soy production. A supply schedule is a table that shows the quantity supplied for each price. A supply curve is a graph that shows the quantity delivered for each price.
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a deadweight loss results from the imposition of a tax on a good because the tax group of answer choices induces the government to increase its expenditures. reduces the quantity of exchanges between buyers and sellers. causes a disequilibrium in the market. imposes a loss on buyers that is greater than the loss to sellers.
b) A good experiences a deadweight loss when a tax is imposed on it because it decreases the number of exchanges between buyers and sellers.
Describe tax.Tax compliance refers to both governmental activities and individual behavior in order to make sure that taxpayers are paying the correct amount of tax at the right time and receiving the correct tax allowances and tax reliefs.
A tax is a mandatory financial charge or another type of levy that a governing body imposes on a taxpayer (an individual or a business company) in order to cover particular public expenses and administrative costs (regional, local, or national). Between 3000 and 2800 BC, the first taxation in history was enacted in Ancient Egypt. Late payments, tax evasion, and opposition to taxation are all examples of breaking the law.
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given a normal market supply curve for mp3 players, if the nightly news reports that loud music increases hearing loss, then there is a/an
The correct answer is D. There is an increase in the quantity supplied of daisies.
A market in economics refers to a physical or virtual space where buyers and sellers come together to exchange goods and services. In the market, the price of goods and services is determined by the forces of supply and demand. A market is not limited to a specific location; it can be national or international.
Markets play a vital role in the economy as they allocate resources efficiently. A well-functioning market ensures that goods and services are produced at the lowest possible cost and are available to consumers at the lowest possible price. It encourages competition among suppliers and helps prevent the exploitation of consumers.
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Complete Question:
Given a normal market supply curve for daisies, if the price of daisies increases from $1.00 per dozen to $2.00 per dozen, then there is a(n):
a. decrease in the supply of daisies.
b. increase in the demand for daisies.
c. increase in the supply of daisies.
d. increase in the quantity supplied of daisies.
e. decrease in the quantity supplied of daisies.
according to theory, an organization's design should permit each function to develop a structure that suits its human and technical resources. group of answer choices strategic choice transaction cost resource dependence contingency
The theory that even an organization's contingency theory should permit to grow an architecture that suits the latter's human and technical finances is related to the situational theory of organisational design.
What does contingency theory mean?According to contingency theory, a leader's effectiveness "depends on how effectively the leader's style fits a particular setting or situation" (Wolinksi, 2010). It was regarded as a perfect match if leaders were effective in their roles.
What are the Contingency Approach's main characteristics?The following are some of the main features of contingency theory: Management theory is not universal; there is no one right way to handle every situation. Decisions made by management are subject to change depending on the environment.
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between 1997 and 2002 there was a 75% fall the price of coffee beans, which was a hardship for countries that export coffee. the fall in the price of imported coffee would be most likely to show up in which u.s. price index?
The U.S. Producer Price Index (PPI) is the best measure of changes in the price of imported coffee. The PPI measures the average change in prices received by domestic producers for their output. The PPI measures prices at various stages of production: from raw goods to intermediate and finished goods.
The PPI is a good measure of the average change in prices for goods and services, so it can be used to track changes in the price of coffee. The PPI will measure changes in the prices received by domestic producers for the sale of their goods and services, including imported goods such as coffee. The PPI will capture any changes in the price of imported coffee, so it can be used to assess the impact of a fall in the price of coffee.
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bev and noah are librarians at summit elementary school. bev works on mondays, wednesdays, and fridays, and noah works on tuesdays and thursdays. they divide the single librarian position, salary, and employee benefits proportionately. what is the name for this type of arrangement?
Job sharing is the name for this type of arrangement as Bev and Noah share their work as librarians.
What is Job sharing?Work sharing, sometimes known as work sharing, is a work arrangement in which two persons, or occasionally more, are kept on a part-time or reduced-time basis to carry out tasks that are typically completed by one person working full-time.
As a result, there is a net decrease in per-employee income. The individuals who share the job are jointly accountable for the workload of the shared job and work together to fulfill the task.
The workers are assigned a percentage of the pay, holidays, and working hours. Superannuation is deducted as a simple percentage in some nations, and mechanisms like pay as you go and PAYE assist in deducting national insurance.
In the 1970s and 1980s, the news media started to cover job sharing seriously.
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allocative efficiency involves determining multiple choice which output mix will result in the most rapid rate of economic growth. which production possibilities curve reflects the lowest opportunity costs. the mix of output that will maximize society's satisfaction. g
The correct option is C. Allocative efficiency involves determining the mix of output that will maximize society's satisfaction.
Allocative efficiency is a term used in economics to describe the ideal state where resources are allocated in such a way as to maximize social welfare. This means that society is producing the right mix of goods and services, and they are being produced and distributed in the most efficient manner possible. Allocative efficiency occurs when the marginal benefit (MB) of producing a good or service is equal to the marginal cost (MC) of producing it.
In other words, it is the point where the demand curve and the supply curve intersect. Allocative efficiency is important because it ensures that the resources are being used in the best possible way, which leads to a more productive and prosperous society. When resources are allocated efficiently, there is no waste, and the economy can grow at a faster pace. However, it is not always easy to achieve allocative efficiency, as it requires the government, businesses, and individuals to make informed choices about how to use their resources.
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Complete Question:
Allocative efficiency involves determining
multiple choice
A). which output mix will result in the most rapid rate of economic growth.
B). which production possibilities curve reflects the lowest opportunity costs.
C). the mix of output that will maximize society's satisfaction.
D). The optimal rate of technological progress
dollar thrifty told hertz and avis budget to submit their best and final proposals. in the end dollar thrifty combined with one of the companies in a(n)
The situation described in the prompt seems to refer to a corporate strategy known as a "competitive bidding process".
In this process, companies such as Dollar Thrifty request bids or proposals from potential business partners or competitors, usually with the objective of selecting the best offer or partner.
In the case described, Dollar Thrifty requested final proposals from Hertz and Avis Budget, likely to determine which company would be the best fit for a potential merger or acquisition. After reviewing the proposals, Dollar Thrifty decided to combine with one of the companies, suggesting that the chosen company had made the most compelling offer or was considered the best fit for Dollar Thrifty's needs.
The outcome of this competitive bidding process could have significant implications for the future direction and success of the companies involved. By combining with a strategic partner, Dollar Thrifty may have gained access to new markets, technologies, or resources, while Hertz or Avis Budget may have missed out on a potential opportunity for growth or expansion.
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if bob and judy combine their savings of $1,900 and $700, respectively, and deposit this amount into an account that pays 8% annual interest, compounded monthly, what will the account balance be after 5 years?
The account balance after 5 years will be approximately $3,533.67.
To solve this problem, we can use the formula for compound interest:
[tex]A = P(1 + r/n)^(n*t)[/tex]
where A is the ending account balance, P is the initial deposit, r is the annual interest rate (as a decimal), n is the number of times the interest is compounded per year, and t is the number of years.
Here, the initial deposit is the sum of Bob and Judy's savings, or $1,900 + $700 = $2,600. The annual interest rate is 8%, and the interest is compounded monthly, so n = 12 (since there are 12 months in a year). The time period is 5 years.
Plugging these values into the formula, we get:
[tex]A = $2,600(1 + 0.08/12)^(12*5)[/tex]
[tex]= $2,600(1.0066667)^60[/tex]
= $3,533.67
Therefore, the account balance after 5 years will be approximately $3,533.67.
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explain how state income tax rates, as illustrated on the map, demonstrate the varied perspectives on economic policy-making.
State income tax rates can be used as an illustration of the varied perspectives on economic policy-making as they reflect different approaches to taxation and government spending across different states.
As the Map is Not provided; here are some of the perspectives on economic policy-making that are reflected by the State income tax rates.
States with higher income tax rates generally prioritize government-provided services such as education, healthcare, and infrastructure development, and have a greater willingness to fund those services through higher taxes on income. These states typically have more robust public services and are more likely to have a progressive tax system that taxes higher earners at a higher rate. States with lower income tax rates, on the other hand, generally prioritize a smaller government and lower taxes on income, often arguing that this will promote economic growth and stimulate private sector investment.
For example, states with high-income tax rates such as California, New York, and Minnesota tend to have larger public sectors that provide extensive social services to their residents. These states have traditionally viewed progressive taxation as a means of redistributing wealth and promoting social equity. In contrast, states with low-income tax rates such as Texas, Florida, and Tennessee tend to emphasize low taxes as a means of attracting business investment and creating jobs. These states argue that a low-tax environment is necessary to promote economic growth and encourage entrepreneurship.
Thus, the variation in state income tax rates demonstrates how different states balance competing priorities in their economic policy-making. While some prioritize government-provided services and social welfare, others prioritize smaller government and private-sector growth. The difference in perspectives on economic policy-making reflects not just political differences, but also differences in the economic challenges and opportunities faced by different states.
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using the simple monthly calculator, what is the approximate total costs of an elastic beanstalk app in london?
The correct option is C. By using the simple monthly website calculator, we find the cost of operating a marketing website on AWS in Northern Carolina is $215.
A market is any region in which or greater occasions can meet to interact in a monetary transaction—even the ones that do not involve legal gentleness. A market transaction might also moreover comprise goods, services, statistics, foreign money, or any aggregate of those that bypass from one birthday celebration to another.
In elegant, the function of a marketplace is to collect products from scattered resources and channel them to scattered stores. From the factor of view of the seller, dealers channel the call for their product; from the thing of view of the consumer, they bring elements within his obtain. A marketplace is an area wherein buyers and sellers can meet to facilitate the change or transaction of products and services. other examples encompass illegal markets, public sale markets, and economic markets.
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Complete Question:
.Using the Simple Monthly Calculator, what are the approximate total costs of a Marketing Website on AWS in Northern California?
Group of answer choices
A). $0.
B). $100
C). $215
D). $215
2.over the past few decades, a number of firms that were sued for discriminatory employment practices ended up becoming exemplars for promoting diversity. what might explain this pattern?
There are several reasons why firms that were sued for discriminatory employment practices might end up becoming exemplars for promoting diversity:
Legal requirementsReputational damageBusiness benefitsCompetitive advantageThere are various reasons why companies that have been sued for discriminatory employment practices may wind up serving as role models for encouraging diversity:
Legal obligations: When businesses are sued for discrimination, they frequently have legal obligations to change their diversity and inclusion policies and practices.
Discriminatory tactics can have a negative impact on a company's reputation and brand image.
Firms are increasingly understanding the business benefits of a diverse and inclusive workforce. According to research, diverse teams are more imaginative, creative, and capable of solving complicated challenges.
Companies that are able to attract and retain diverse people can acquire a competitive advantage in the marketplace.
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For which product is demand likely to be the most elastic? a) A product with no substitutes b) a product with many adequate substitutes c) a product with inadequate substitutes d) it is impossible to tell
Because people are willing to purchase at a cheaper price if prices drop, expensive goods frequently exhibit large elasticities. Products with numerous alternatives or rivals are elastic because customers switch to other products as the price of the original product rises.
What contexts exist for the word "purchase"?
When a noun form is necessary, such as in the phrase: You made a wise purchase when you bought gasoline before the price climbed., the word "buy" should also be used. Try to use "buy" for simple transactions and "purchase" for more formal cash exchanges for goods. The value of all products and services purchased during the accounting period for resale or consumption in the manufacturing process is included in purchases of goods and services, with the exception of capital goods, whose consumption is recorded as consumption of fixed capital.
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the following transactions apply to pecan co. for year 1, its first year of operations: received $100,000 cash in exchange for issuance of common stock. secured a $300,000 five-year installment loan from state bank. the interest rate is 5 percent and annual payments are $69,292. purchased land for $100,000. provided services for $260,000. paid other operating expenses of $150,000. paid the annual payment on the loan. required organize the transaction data in accounts under an accounting equation. prepare an income statement and balance sheet for year 1. what is the interest expense for year 2? year 3?
Pecan Co. a. Bookkeeping condition: Resources = Liabilities + Value
Resources: Money ($100,000 + 300,000 - 100,000 - 150,000 - 69,292) + Land ($100,000) + Records Receivable ($260,000) = Liabilities: Bank Credit ($245,708) + Value: Common stock ($100,000) + Held Profit ($260,000 - 150,000 - 15,000)
Pay Articulation
Administration Income $260,000
Working costs 150,000
Interest cost 15,000
Total compensation $95,000
Accounting report
Cash $80,708
Money due 260,000
Land 100,000
All out resources $440,708
Bank Credit $245,708
Common stock 100,000
Overall gain 95,000
All out liabilities+equity $440,708
Clarification:
a) Information and Estimations:
Cash $100,000 + 300,000 - 100,000 - 150,000 - 69,292 = $80,708
Money due $260,000
Land $100,000
Common stock $100,000
Bank Advance $300,000 + 15,000 - 69,292 = $245,708
Administration Income $260,000
Working costs $150,000
Amortization Timetable, utilizing an internet based monetary adding machine:
Starting Interest Chief Consummation
Balance Equilibrium
1 $300,000.00 $15,000.00 $54,292.44 $245,707.56
2 $245,707.56 $12,285.38 $57,007.06 $188,700.50
3 $188,700.50 $9,435.02 $59,857.41 $128,843.08
4 $128,843.08 $6,442.15 $62,850.29 $65,992.80
5 $65,992.80 $3,299.64 $65,992.80 $0.0
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the complete question is:
The following transactions apply to Pecan Co. for 2018, its first year of operations:1. Received $100,000 cash in exchange for issuance of common stock.2. Secured a $300,000 five-year installment loan from State Bank. The interest rate is 5 percent and annual payments are $69,292.3. Purchased land for $100,0004. Provided services for $260,000.5. Paid other operating expenses of $150,000.6. Paid the annual payment on the loan. Round answers to nearest whole dollar.Required:a. Organize the transaction data in accounts under an accounting equation.b. Prepare an income statement and balance sheet for 2018.c. What is the interest expense for 2019? 2020?
the price of a dozen eggs rises from $3 to $4.70. in response to this price change, quantity supplied increases from 100,000 dozen eggs to 127,000 dozen eggs. what is the approximate price elasticity of supply for eggs? 1.86 3.52 2.5 0.48
The price elasticity of supply for eggs at around the same cost. 48.
The required details about price elasticity is mentioned in below paragraph.
Price elasticity of demand is a gauge of how a product's consumption changes in response to a price change. In mathematics, it is written as:
Demand Price Elasticity =% Change in Quantity Demanded -% Change in Price
Price elasticity of demand is a metric used to assess how consumer behavior changes in response to price changes for a given good.
A good is perfectly elastic if the price elasticity is infinite (if demand changes substantially even with minimal price change).
If a good's price elasticity is greater than 1, it is elastic; if it is lower, it is inelastic.
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which of the following statements is correct? question 24 options: a time line is not meaningful unless all cash flows occur annually. time lines are useful for visualizing complex problems prior to doing actual calculations. time lines cannot be constructed in situations where some of the cash flows occur annually but others occur quarterly. time lines cannot be constructed for annuities where the payments occur at the beginning of the periods. some of the cash flows shown on a time line can be in the form of annuity payments, but none can be uneven amounts.
b. Timelines can be constructed to deal with situations where some of the cash flows occur annually but others occur quarterly. This statement is correct.
What in time value of money is a time line?If any cash flows do not happen annually, a time line is meaningless. When certain financial flows occur annually while others happen quarterly, time lines might be created. Annuities with payments made at the start or end of the periods might have time lines established.
An annuity must have equal cash flows that are distributed at regular periods, such as once a year or once a month. The cash flows for an annuity must be equal and happen at equal intervals.
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b Identify and explain two reasons why the primary sector is relatively more Important to Botswana than India.
Answer: The primary sector refers to industries that are involved in the extraction of natural resources and the production of raw materials. This sector includes activities such as agriculture, forestry, fishing, mining, and oil and gas production.
In Botswana, the primary sector is relatively more important than it is in India for several reasons:
Explanation:
1. Dependence on Natural Resources: Botswana is heavily dependent on its natural resources, particularly diamonds, which account for over 70% of the country's exports. The primary sector plays a crucial role in the country's economy, and its importance is reflected in the high levels of investment in the sector.
2. Agriculture and Livestock Production: While agriculture and livestock production plays a relatively minor role in India's economy, they are significant in Botswana, where they provide food and income for a large number of rural households.
Read more about the primary sector dependence of India and Botswana:
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companies use job cost sheets to track the costs of: multiple choice question. labor, marketing, and operating costs of a job
Multiple choice question: Businesses use job cost sheets to track the costs of. Costs of a job's labour, overhead, and marketing Costs of a job's labour, marketing, and operational expenses Costs of a job's materials, labour, and selling expenses.
What do business organisations go by?
Occasionally referred to as a C corp, a corporation is a legal body separate from its owners. Corporations have taxable income, are subject to taxation, and are liable in court. Corporations offer owners the strongest defence against personal liability, despite the fact that establishing a company is more expensive than establishing other forms of entities.
You cannot use a business name that has already been trademarked, even if the company is located in a different state than yours. There may be complicated trademark issues.
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one of the major function of the international finance corporation is to provide loans and take equity position in private companies of developing countries and work towards developing __________ , which encompass a stock exchange where long-term financial instruments such as stocks and bonds can be bought and sold.
a. Bаnking Corporatiоns
b. Сарitаl Mаrket
c. Financial Institutions
d. NYSE Subsidiaries
b. Capital Market. one of the major function of the international finance corporation is to provide loans and take equity position in private companies of developing countries and work towards developing Capital Market
The International Finance Corporation (IFC) works to build capital markets, which include a stock exchange where long-term financial products like stocks and bonds may be purchased and sold. These markets include loans and equity holdings in private enterprises of developing nations. So, (b) Capital Market is the best choice. A division of the World Bank, the IFC's main objective is to encourage private sector investment in developing nations. One of the main goals of IFC's investment programmes is the development of the capital markets since it enables private businesses have access to long-term finance.
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which business custom do the mint countries of mexico, indonesia, nigeria, and turkey all have in common?
A. Following strict agendas for business meetings
B. Bring punctual for business meetings
C. Avolding alcohol while dining
D. Discussing politics
E. Shaking hands
The correct option is E. Shaking hands business custom do the mint countries of Mexico, Indonesia, Nigeria, and turkey all have in common.
Business corporation economics is a place in carried out economics that makes use of monetary concepts and quantitative techniques to investigate commercial enterprise agencies and the factors contributing to the range of organizational structures and the relationships of organizations with labor, capital, and product markets.
Company economics is an area of done economics that studies the monetary, organizational, market-associated, and environmental issues confronted by agencies. industrial organization economics encompasses topics inclusive of the concept of shortage, product elements, distribution, and intake. company is also the efforts and activities of someone who's generating items or presenting offerings with the reason to promote them for profits. commercial agency Definition. industrial corporation refers to an enterprising entity or company that contains professional sports. They may be commercial enterprises, industrial, or others.
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Suppose that when the average family income rises from $30,000 per year to $40,000 per year, the average family's purchases of toilet paper rise from 100 rolls to 105 rolls per year.a. Calculate the income elasticity of demand for toilet paper.b. Is toilet paper a normal good or an inferior good?
The following questions have the corresponding responses: 1). For toilet paper, the income elasticity of consumption is 0.17. 2). Toilet paper is an everyday item. 3). Toilet paper consumption is income-inelastic.
What things are elastic in economics?A measure of the economic responsiveness of the quantity of a product or service requested to a change in income is called income elasticity of demand. The percentage change in quantity requested divided by the percentage change in income is the formula for calculating the income elasticity of demand.
Inelastic goods frequently have the same degree of demand regardless of income. Even if your salary rises, you won't need more than a gallon of milk or other weekly necessities like gas.
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how are direct lending and dealer financing similar?
There is direct lending, which entails taking out a loan from a bank, financial institution, or credit union. Additionally, you can apply for a car loan through your car dealer using dealership financing.
Direct lending requires you to pay interest and/or fees on the loan in addition to the financed amount. A type of loan initiated by a retailer for its customers is known as dealer financing. The loan is subsequently sold to other independent financial institutions or, more frequently, to a bank that buys these loans at a lower price. The borrower then pays the bank the principal and interest.
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in calculating gdp, which component of spending must be subtracted from total spending to account for the fact that not all private or public spending by u.s. households is directed to u.s. businesses?
Utilizing expenditures, production, or incomes, GDP can be estimated in three different ways and can be further customized by include population and inflation adjustments.
From what should we deduct while calculating GDP?Spending on both imports and exports is taken into consideration when calculating GDP. The sum of consumer spending (C) plus business investment (I) and government spending (G), plus net exports (i.e., total exports minus total imports), is a country's GDP (X – M).
What percentage of public spending is not included in GDP?Federal, state, and municipal governments make government acquisitions when they need products and services. A significant component in calculating a country's gross domestic product is the sum of this spending, minus transfer payments and interest on the debt.
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Which of the following factors is likely to be most important when choosing a location for a supermarket?
A) Proximity to suppliers
B) Low-cost land
C) Exchange rate
D) Energy costs
Why do binding price floors cause a deadweight loss? Click or tap a choice to answer the question: a. A binding price floor prevents some mutually beneficial exchanges from happening. b.Binding price floors do not cause a deadweight loss. c.By keeping prices higher than the market equilibrium price, consumer and producer surplus increase. d. A binding price floor increases producer surplus and increases producer surplus by an equal amount, leaving total surplus unchanged.
By keeping prices higher than the market equilibrium price, consumer and producer surplus increase.
What does "market equilibrium" actually mean?A circumstance known as "market equilibrium" occurs when a good's supply and demand are both equal. The absence of both excess demand and supply characterizes a market equilibrium.
What is the purpose of market equilibrium? Why is it substantial?Market market supply and demand must be balanced in order for prices to hold constant. This is the state of equilibrium. A excess of products or services generally leads to lower pricing, which increases demand, whereas a scarcity or undersupply raises prices, which diminishes demand.
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