If a price increase of 5% causes the desired amount to decrease by 8%, the demand is elastic.
What is another word increase?
Augment, enlarge, and multiply are a few typical synonyms for the word increase. While all of these verbs have the same basic meaning of "to make or become greater," the term "increase" has a few different meanings depending on how it is employed. When used transitively, it might denote simple addition rather than necessarily gradual expansion in size, amount, or intensity. something that is increased (as in size, number, or amount) from the initial stock or amount, such as offspring, produce, or profit: INCREASING
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What are the three goals for every market based economy?
The three goals for every market-based economy are efficiency, equity, and economic growth.
B. Efficiency: This refers to the ability of an economy to produce the goods and services it needs in the most cost-effective way. This can be achieved through the proper allocation of resources and the efficient use of technology.
Equity: This refers to the fairness of the distribution of resources, services, and opportunities in the economy. This means that everyone should have access to the same resources, even if they come from different backgrounds.
Economic Growth: This refers to an increase in the size of the economy. This can be achieved by increasing the number of businesses and jobs, as well as improving the quality of goods and services produced. This can lead to an increase in the standard of living, as more money is.
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Which of the following sets of events must cause an increase in the price of a new house?
a. higher wages for carpenters, higher wood prices, increases in consumer incomes, higher apartment rents, increases in population, and expectations of higher house prices in the future
b. lower wages for carpenters, lower wood prices, increases in consumer incomes, higher apartment rents, increases in population and expectations of higher house prices in the future
c. lower wages for carpenters, higher wood prices, decreases in consumer incomes, higher apartment rents, decreases in populations and expectations of higher house prices in the future
d. higher wages for carpenters, lower wood prices, decreases in consumer incomes, lower apartment rents, decreases in population and expectations of lower house prices in the future
population growth, rents, and anticipated future rises in home prices.
In a market quizlet, what factors cause a product's price to rise?More purchases are made as the number of customers for a particular product rises. As a result, regardless of price, the volume of the product demanded rises. (AKA AN INCREASE IN DEMAND.) a rise in the quantity of a product at all prices that is desired.
Which of the following conditions would result in an increase in the equilibrium price?growing demand
The equilibrium price will rise due to an increase in demand while remaining constant in all other respects, increasing supply. The equilibrium price will drop with a drop in demand, and supply will increase less than demand.
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What are 3 characteristics of a command economy?
The 3 characteristics of a command economy are Centralized decision-making, State ownership of production, and Limited economic freedom.
What is a command economy?A command economy usually referred to as a planned economy, is a form of capitalism in which all economic decisions are made by the government.In a command economy, the government controls the distribution of resources and owns the market of production.A command economy aims to increase social and economic equality.Prices are not determined by market forces but by the government.A free market economy, where supply and demand are determined by each party, is the principal alternative to a command economy.A free market system exists in capitalist nations, whereas the command economy is a feature of a communist political structure.To learn more about command economy from the given link
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What are the 4 factors that influence a purchasing decision?
Cultural, social, personal and psychological are the four factors that influence a purchasing decision .
The appeal of a product can be greatly influenced by cultural and societal influences. Industry organisations invest a lot of money in trying to sway public opinion because they are aware of how culture can affect industry sales. When developing your marketing, keep cultural and social issues in mind. Without offending anyone, you want to draw in as many clients as you can. Consumer behaviour is also influenced by personal variables. Tastes evolve with time. Experts on ageing claim that senior consumer behaviour is extremely varied, indicating that on average, seniors have more motives to make purchases than youth. Motivation refers to the consumer's underlying requirements. A valuable tool is knowing how to inspire your customers. how your potential buyer learns about your goods or views the world.
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A bank can get additional excess reserves by doing any of the following, except: Borrowing from other banks Buying Treasury securities from the Fed Receiving additional deposits Borrowing from the Fed
The Fed's reserves decrease as banks buy Treasury securities from it because they must cover the cost of the acquisitions. A bank is a type of financial organisation that is authorised to offer loans and receive deposits.
An institution that is permitted to provide loans and accept deposits for checking and savings accounts is a bank. Other services provided by banks include safe deposit boxes, currency exchange, and individual retirement accounts (IRAs). Among the many different types of banks are retail banks, commercial or corporate banks, and investment banks. In the USA, banks are governed by both federal and state laws. At least since the thirteenth century, banks have been around. Customers and company owners may deposit their cash in a secure area with them, and a business can obtain loans for both personal and professional purposes.
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The following are national income account data for an economy in billions of dollars: personal consumption expenditures $2,460, gross private domestic investment $320, government purchases $470, exports $22, and imports $35. What is GDP for this economy
The GDP for this economy will be $3,237billions at personal consumption expenditures $2,460 and gross private domestic investment $320.
given data;
personal consumption expenditures = $2,460
gross private domestic investment = $320
government purchases = $470
government exports = $22
government imports = $35
the formula for gdp will be:
GDP = G + I + C + (X-M)
= $470 + $320 + $2,460 + ($22-$35)
= $3,250 - $13
=$3,237billions.
Gross domestic product (GDP) is the total monetary worth, or market value, of all completed products and services produced inside a nation's boundaries over a certain time period. It serves as a thorough assessment of a particular country's economic health as a broad indicator of entire domestic production. Despite being computed on an annual basis in the majority of cases, GDP is also occasionally estimated on a quarterly basis. The government of the United States, for instance, produces an annualised GDP estimate for both the calendar year and each fiscal quarter. Since each piece of data in this report is presented in actual terms, price changes are taken into account while calculating the data, which results in data that is net of inflation.
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When does the finance charge begin to accrue on the credit card from the local department store
The finance charge on a credit card from a local department store will typically begin to accrue on the day that the balance is incurred. This means that if you make a purchase on your credit card, the finance charge will begin accruing on that day, regardless of when the bill is due.
Please note that some credit card companies may have different policies regarding when loan fees start. For example, some credit card companies may offer a grace period, which is a period of no loan fees, usually beginning on the billing date, as long as the balance is paid in full by the due date. Therefore, it is important to check your credit card's terms and conditions or contact customer service for the exact conditions under which a particular credit card will accrue financing fees.
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Which of the following is a reason why government is a participant in a market-oriented economy?
a. To enforce contracts and protect private property
b. To promote collusion
c. To promote the growth of natural monopolies
d. To provide more inequality in the distribution of income
e. To promote externalities
The government engages in a market-oriented economy to uphold agreements and defend private property.
What do you mean by a market-oriented economy ?
A market-oriented economy is an economic system in which the production, distribution, and pricing of goods and services are determined by the forces of the marketplace. This type of economy is driven by competition, which encourages firms to be innovative and efficient in order to remain competitive and profitable. This type of economy allows individuals to have greater control over their economic decisions as they are able to choose from a variety of goods and services. Furthermore, a market-oriented economy promotes economic growth through competition, leading to increased investment, higher wages, and more jobs.
So, The correct option is a. To enforce contracts and protect private property.
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An airline sells 120 tickets for a flight that seats 100. Each ticket is non-refundable and costs $250. The unit cost of flying a passenger (fuel, landing fees, etc.) is $110 and assumes that every flight is full. If the flight is overbooked, each person who does not get a seat is given $400 in cash. Assume it is equally likely that any number of people between 91 and 120 show up for the flight. Rounded to the nearest thousand, what is the average expected profit the flight will generate
After subtracting revenue from variable and fixed expenses, profit is realized. Profit can be calculated for a variety of purposes, including determining a product's financial viability and managerial effectiveness.
The average profit from equally likely scenarios would be the expected profit.
The expected profit is the sum of the profit from the initial 90 customers and the likely profit or loss from the subsequent 30 customers.
The probability of each customer traveling for the next 30 customers is 1/30, so the probabilities of profit or loss from those customers are as follows:
$120 x 10 x 1/30 - $100 x 20 x 1/30 = -$26.67
Expected profit = 90 x $120 - $26.67 = $10,773 or $11,000.
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Setting up an effective nonroutine meeting begins with Multiple choice question. argument. planning. delegation. criticism.
Setting up an effective nonroutine meeting begins with Planning. Planning is the first step in setting up an effective nonroutine meeting.It is essential to take the time to plan the meeting carefully in order to make sure that it is productive and successful.
You should consider who needs to be invited, what topics need to be discussed, what resources are needed, and what the desired outcome of the meeting should be. You should also consider the agenda of the meeting and how it should be structured. Questions should be asked in advance to help ensure that everyone is prepared for the meeting.
Finally, it is important to consider how the meeting will be facilitated and who will be responsible for doing so. Planning is a crucial step that must be taken in order to ensure a successful and effective nonroutine meeting.
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Can you have a 910 credit score?
Yes , you can have a credit score of 910 . A credit score between 881 - 960 is considered good.
Fair credit scores range from 721 to 880. Good is a score between 881 and 960. A score between 961 and 999 is regarded as excellent.
Credit score:A credit score is a numerical representation of a person's creditworthiness derived from a level analysis of their credit files. A credit report, which typically contains data gathered from credit bureaus, serves as the primary foundation for a credit score. Your credit score is one of the factors the lender will consider when deciding whether to accept or deny your application for credit, such as a loan, mortgage, or credit card. It will also have an impact on the offer or interest rate that the lender makes to you.
Why is a good credit score so important?Most of the time, a credit score is a three-digit number that lenders use to figure out whether you should get a mortgage, a credit card, or another type of line of credit, as well as the interest rate on that credit. At the time of your application, the score depicts you as a credit risk to the lender.
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g At an interest rate of 6%, you can have approximately $15,000 ten years from now by depositing $1,192.50 every year for the next ten years assuming the deposits take place at the end of each year. True False
False. At an interest rate of 6%, you can have approximately $16,854.55 ten years from now by depositing $1,192.50 every year for the next ten years assuming the deposits take place at the end of each year.
What is interest rate?Interest rate is the amount of money that a lender charges a borrower for the use of a loan over a specific period of time. Interest is expressed as a percentage of the principal amount of the loan and is typically paid to the lender in regular installments. Interest rates are determined by many factors, including the creditworthiness of the borrower, the term of the loan, the amount of the loan and the current rate of inflation. Generally, higher risk borrowers will pay higher interest rates than those with good credit ratings. The interest rate on a loan can also change over time as the market interest rates fluctuate.
The total amount of deposits over the ten years would be $11,925.00, and the interest earned would be $4,929.55, giving you a total of $16,854.55.
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Suppose that an economy experienced a natural disaster that declined its nominal GDP by 5%. Meanwhile, inflation was 5%. What is the real GDP growth rate for this period
Let's say a natural calamity caused a 5% reduction in a country's nominal GDP. In the interim, inflation was 5%. For this time period, the real GDP growth rate was -10%.
How do you calculate the nominal GDP growth rate?By multiplying the quantity output for the current year by the market price, nominal GDP is calculated. The nominal GDP in the preceding example is $1000 in Year 1 (100 x $10), and it is $2250 in Year 5 (150 x $15).
How do you determine the pace of economic growth?The difference between the most recent year's real GDP and the year before can be used to compute real GDP. Next, multiply this difference by the real GDP of the previous year.
Quantity Change = Nominal Change + Price Change = %. Real GDP growth rate (% change in quantity) hence equals nominal GDP growth rate (% change in quantity) = -5% -5% =-10%.
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Please select the newly answerable business questions that emerged in the ""modern age"" of marketing
With the end of World War I, the modern era of marketing began. Utilizing all of a company's resources to give customers the best experience possible and spur business growth is modern marketing.
According to a recent McKinsey survey, marketing is a key factor in most or all of a company's growth agenda, according to 83 percent of worldwide CEOs. Large volumes of messages and content can be developed continuously, monitored by performance analytics, and then changed as necessary in a modern marketing company.
Broad offers and experiences across significant consumer segments are referred to as personalization. Today, the objective of modern age of marketing is to creatively deliver as much relevant one-to-one marketing as possible by leveraging data from all consumer interactions.
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The reimbursement system whereby providers reported actual charges for care to payers after each encounter was called:
The reimbursement system whereby providers reported actual charges for care to payers after each encounter was called retrospective reimbursement methodology.
The payment schedule of financial instruments establishes the dates on which payments are made from one party to another on products like bonds or derivatives. It can be tweaked or parameterized. The monthly payment is the sum that must be paid each month to cover the loan's whole balance.
They can use this document to project their earnings during the project's length. Contractors must also fulfill their responsibilities to their suppliers, subcontractors, and others; money isn't just magically appearing. They can use a payment schedule to keep track of when they need to pay their vendors.
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How an Economy Grows and Why It Crashes by Peter Schiff summary?
An Economy Grows and Why It Crashes by Peter Schiff is a comprehensive and entertaining guide to understanding how the economy works.
In this book, Schiff explains the basics of economics and how it relates to the stock market and the real world. He discusses the importance of investing, the role of government, money supply and inflation, and how different economic policies affect the overall economy. He also explains the importance of understanding the business cycle and how to identify the warning signs of a recession. Finally, Schiff offers practical advice on investing for the long term and how to protect yourself from economic downturns.
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Number of days a taxpayer is allowed to extend the time to petition the tax court?
As per Section 249( 2), the appeal should be presented within 30 days of the following date( a) Where the appeal relates to any assessment or penalty, the date of service of Notice of Deficiency relating to the assessment or penalty.
The Notice of Deficiency IRS Letters 3219 and 531( also appertained to as 90- Day Letters) is a taxpayer's legal notice that the IRS is proposing an insufficiency( balance due). This notice or letter may include fresh motifs that haven't yet been covered.
A Notice of Deficiency is also known as a 90- Day Letter. occasionally it's called a" ticket to the Tax Court." It's the last letter that the IRS must shoot to all taxpayers in income and estate duty cases before the IRS can begin collecting the duty.
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definition of corporate information technology system that servers as a service countinuum system and designed as a long-term force management tool
The statemen above tell us about the definition software system. The software system assists companies in storing and managing all existing information in the long term.
In technology, A software system generally can be defined as a system of intercommunicating components based on software forming part of a computer system. Usually, a software system contain a combination of hardware and software. There are several types of software, such as Application Software, Firmware, Programming Software, Driver Software, System Software, Freeware, Shareware, and also Open Source Software. System software plays an important role in managing and storing company data.
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The law of demand says that the lower the price of a good, other things constant, Group of answer choices the larger the demand for that good the larger the quantity demanded of that good the smaller the demand for that good the smaller the quantity demanded of that good the smaller the real income of consumers and the lower the quantity demanded of that good
The law of demand says that the lower the price of a good, other things constant, a) the larger the demand for that good the larger the quantity demanded of that good.
One of the most abecedarian ideas in economics is the law of demand. It explains how request husbandry distribute coffers and set the prices of goods and services that we see in diurnal deals by combining the law of force.
According to the law of demand, the volume bought varies equally with price. In other words, the volume demanded diminishments as the price increases. Because of declining borderline mileage, this happens.
In other words, consumers use the original units of an profitable good they buy to fulfill their most burning conditions first, and also they use each fresh unit to fulfill precipitously lower- valued pretensions.
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Marketing is _____________, important, and profitable. Businesses, individual consumers, and the economy _______benefit from effective marketing. This chapter introduces marketing in a way you may not recognize. Marketing influences all business operations and includes a number of different activities. Marketing is now seen as _________ to the success not only of manufacturers, retailers, and other businesses but also of government agencies, hospitals, law offices, schools, and churches. Where Does Marketing Take Place
Marketing is organized, important, and profitable. Businesses, individual consumers, and the economy socially benefit from effective marketing.
Marketing is now seen as a step to the success not only of manufacturers, retailers, and other businesses but also of government agencies, hospitals, law offices, schools, and churches. Place describes the store or location where customers find or purchase your product.
Consumers of today can research products and purchase them online, via a smartphone app, in-store, or from a salesperson. Everyday locations, areas where clients are present, and all different types of businesses can all use marketing.
When you come up with an idea for a good or service, marketing begins. You must choose what you are offering, how many choices are available, and the way it will be packed and displayed to customers before introducing a product or a service.
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Zelda was approved for a $3,000, two-year, 11 percent loan with the finance charges figured using the discount method. How much cash will Zelda receive from this loan
According to the question, elda will receive $2,730 in cash from this loan.
What is loan?Loan is a type of financial assistance given to an individual or entity in exchange for a promise of future repayment of the principal amount along with interest. Loan is a type of credit and can be used for a variety of purposes such as purchase of goods and services, investment in businesses, debt restructuring, and more. Loan can be taken from a financial institution like banks, credit unions, and other lenders.
This is because finance charges are figured using the discount method, meaning that the lender charges a fee (the discount) to provide the loan. In this case, the discount is $270, which is deducted from the loan amount of $3,000. Therefore, Zelda will receive $2,730 in cash from the loan.
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A consumer has sent a complaint to the Texas Real Estate Commission (TREC) against a real estate agent, claiming a violation of the Canon of Integrity. The agent is accused of
The agent is accused of Canon of Integrity which states misrepresenting the condition of the property by omitting pertinent facts.
What is the canon of integrity?
The Integrity canon deals with misrepresentations. Licensees owe a special obligation to exercise integrity in discharging responsibilities. This may be accomplished with prudence and caution to avoid misrepresentation by words, deeds or omissions (Section 531.2).
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In this figure, obtaining more books by giving up some movies is called a(n) ______; whereas losing two books in order to gain 1 movie is referred to as ______ cost.
In this figure, obtaining more books by giving up some movies is called a(n) trade-off; whereas losing two books in order to gain 1 movie is referred to as production cost.
The capital-structure irrelevance statement, which was developed by the economists Modigliani and Miller in the 1950s after they investigated capital structure theory, is the foundation of the static trade-off theory.
According to this thesis, in ideal markets, a company's capital structure is irrelevant because its earning potential and the risk associated with its underlying assets define its market value.
Value, in the opinion of Modigliani and Miller, is unaffected by the type of finance used and the investments made by a company. The risk to a corporation grows as debt increases, somewhat offsetting the decline in WACC. As a result, the static trade-off hypothesis identifies a debt and equity combination where the declining WACC balances the rising.
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What are the factors that influence the zone of tolerance?
There are four factors that influence the level of adequate service, namely transitory service intensifiers, perceived service alternative, customer self-perceived service role and situational factors.
What are the factors zone of tolerance?Time, place, situation, and culture all play a part in defining the range of tolerance.Temperature, humidity, soil chemistry, pH, salinity, and oxygen levels are just a few of the physical, abiotic (non-living) elements that have an impact on where organisms can exist. They have tolerance ranges for the abiotic environmental situation, much as species have geographic ranges.Four fundamental models of tolerance—religious, medical, anthropological, and psychological—have been identified via study and interpretation of the scientific literature.People who are tolerant display strength by being able to handle opposing viewpoints. Another benefit of tolerance is that it can aid in personal growth. Tolerance also makes peaceful coexistence possible.To learn more about zone of tolerance refers to:
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Generally, the most important category on the statement of cash flows is cash flows from:
a. non-cash activities.
b. operating activities.
c. financing activities.
d. investing activities.
The most important category of the cash flow statement is usually cash flow from operating activities. This is to give you an idea of the cash generated by your company's core activities.
Option B is correct .
The most important stream category on the cash flow statement is operational cash flow. This category is the main focus of anyone running a business.
Why is the cash flow statement important to shareholders and investors?The cash flow statement (CFS) provides important information about a company. It shows the movement of money inside and outside the company. This helps investors and shareholders understand the company's revenues and expenses.
What is cash flow?Cash flow refers to the net balance of cash entering or leaving a company at any given time. Cash flows in and out of business all the time. For example, when a retailer purchases inventory, money flows from the store to the supplier.
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On the diagram to the right, a movement from A to B represents a A. decreases in demand. B. change in demand. C. movement up the demand curve. D. change in quantity demanded.
On the diagram to the right, a movement from A to B represents a change in the quantity demanded.
What is demand?Demand is just a consumer's desire to buy products and services immediately and to pay the price associated with them. Demand can be defined as the number of things that consumers are prepared and willing to purchase at various prices within a specific time frame.
The term change in the quality demands refers to that specific. The quantity of products buyers is demanded to buy. These changes in quantity demanded are caused by a change in the price.
Therefore, Thus option (D) is correct. The quality demands refer to the quality of the product.
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Which of the following is NOT a type of information communicated by the financial statements? Multiple Choice a. whether or not the business is profitable b. what types of assets business owns c. how long the business has been in operation d. how much the business owes others
How long the business has been in operation is NOT a type of information communicated by the financial statements.
Hence, Option C is correct.
Financial statements are written records that outline a company's operations as well as its financial success.Financial statements offer a quick glance into the state of a company's finances and include information on its operations, profitability, and cash flow. Financial statements are crucial since they reveal details about a company's earnings, costs, profitability, and debt. T12, or occasionally TTM, stands for "trailing 12 months," and is frequently used to describe a financial statement that summarizes an entity's performance over the previous year.Government organizations, business firms, use audit financial statements in order to gain their accuracy.To know more about financial statements here
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Broker Jim always has a parade float in the annual Fall Holiday Parade. What form of advertisement is Broker Jim's float
Broker Jim’s parade float is institutional form of advertisement.
The earliest parade floats appeared throughout the Middle Ages. Pageant waggons were used by churches as mobile scenery for passion plays, and artisans in certain guilds made pageant waggons for their specialised trade. During Corpus Christi, when up to 48 waggons were utilised, one for each play in the Corpus Christi cycle, the waggons were most prominently pulled throughout the town.
They got their moniker since the earliest floats for the Lord Mayor's Show were decked barges on the River Thames.
the promotion of a brand, company, or category of goods so that consumers will think favorably of it rather than a specific good or service.
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5. What are the specific characteristics that define the private enterprise system? How does
this type of system encourage innovation? Provide an example that helps to illustrate this
and explain.
the specific characteristics that define the private enterprise system-1 freedom of choice; (2) private property rights; (3) earnings motive of owners; and (4) owner control.
In the United States, there are three fundamental sorts of commercial enterprise companies - individual- ly owned, partnerships, and corporations.
What is the essential characteristic of our non-public employer economy?As an economic system, personal employer is characterized by competition, open markets, private ownership, and non-public initiative
A free organisation economy has 5 vital characteristics. They are: monetary freedom, voluntary (willing) exchange, non-public property rights, the profit motive, and competition. Some of these facets may additionally already be familiar.
The major distinguishing feature of non-public groups in contrast to public corporations is that they are managed privately, barring any affect or involvement from the government.
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https://brainly.com/question/28293197#SPJ1Since ownership in a corporation can be dispersed over a huge number of stockholders, it can be argued that ______ effectively controls the firm.
Whether a company, a nonprofit, or a government agency, management (or managing) is the administration of the organisation. It is both the science and the art of managing a company's resources.
Setting an organization's strategy and managing employee (or volunteer) efforts to achieve goals via the use of existing resources, such as financial, natural, technical, and human resources, are included in management. The terms "run the business" and "change the business" are used in management to distinguish between the continuation of the delivery of products or services and the adaptation of those same goods or services to accommodate changing client demands - see trend. The term "management" can also refer to managers, who are responsible for running a company.The Bachelor of Commerce , the Bachelor of Business Administration , the Master of Business Administration , the Master in Management, and, for the public sector, the Master of Public Administration degree are major management degrees that some people pursue in colleges or universities.
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