The function of a household in the economy is the buys finished goods.
How do household impact the economy?Through their basic and daily needs for the maintenance of quality of life, families drive the economy through their purchase needs and desires, generating demand for products and services.
Therefore, households impact the economy by determining demand that will drive supply.
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Answer:
Buys finish product
Explanation:
Market competition can provide _______________ for _________________ , unsustained profits; firms with marketable patents the needed incentive; discovering new technologies time; competitors to catch up with other's inventions an opportunity; competitors seeking out innovations
An incentive; discovering new technologies
Market competition can provide incentives for discovering new technologies, unsustained profits; firms with marketable patents.
Market competition - the competition between businesses supplying comparable goods and services. Consumer rivalry is fueled by a competitive market. This implies that consumers compete with one another for a good or service, particularly when stock is low. For instance, when buying tickets to a sporting event or concert, customers frequently compete to get the best seats. Market competition is essential to the health of the American economy. Economic fundamentals show that when businesses compete for customers, the result is lower pricing, better goods and services, more variety, and more innovation.
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According to a supply and demand model for apples, if the average household income decreases at the same time ten apple orchards go out of business, one would expect the:
Based on the law of supply and demand if orchards go out of business and income decreases, the equilibrium price of apples to increase and the equilibrium quantity of apples in the market to decrease.
What would cause the prices of apple to increase?Due to scarcity, the prices of apple would increase in the market. People would have to pay more to get the product which is now scarce.
When goods are few in the market they become more expensive than they were before.
What is the law of supply and demand ?The law of supply states that as the price of a good rise, the quantity supplied also rise and as the price of a good go down or fall, the quantity supplied also go down or fall.
The law of demand states that that as the price of a good rise, the quantity demanded go down or fall and as the price of a good go down or fall, the quantity demanded also rise.
Therefore, we can conclude that the correct option is E. The law of supply and demand if orchards go out of business and income decreases, the equilibrium price of apples to increase and the equilibrium quantity of apples in the market to decrease.
Your question is incomplete, but most probably your full question was:
According to a supply and demand model for apples, if the average household income decreases at the same time ten apple orchards go out of business, one would expect the:
a. equilibrium quantity of apples in the market to be indeterminate and the equilibrium price of apples to increase.
b. equilibrium price of apples to be indeterminate and the equilibrium quantity of apples in the market to increase.
c. equilibrium quantity of apples in the market to decrease and the equilibrium price of apples to be indeterminate.
d. equilibrium quantity of apples in the market to decrease and the equilibrium price of apples to stay the same.
e. equilibrium price of apples to increase and the equilibrium quantity of apples in the market to decrease.
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Milton Friedman helped to establish the economic theory of monetarism. Which statement best describes the idea of monetarism
Monetary policy is the best way to influence economic growth.
Appeared as a leader of the Chicago school of financial economics, Friedman burdened the importance of the quantity of cash as a device of government coverage and a determinant of enterprise cycles and inflation. His monetarism principle proposed that cash delivery modifications have immediate and long-term effects.
Milton Friedman became a U.S. economist and Nobel laureate known as the most influential propose of loose-marketplace capitalism and monetarism in the 20th century.
The monetarist principle is an monetary concept that contends that changes in cash deliver are the maximum good sized determinants of the charge of monetary increase and the behavior of the commercial enterprise cycle.
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Pittsburgh-based Consol Energy's coal business largely depends on orders from utilities and steel companies which, in turn, depend on broader economic demand from consumers for electricity and steel-based products like automobiles and appliances because of ________.
Considering the situation described above, Pittsburgh-based Consol Energy's coal business largely depends on "Derived demand."
What is Derived demand ?Derived demand is a type of demand that arises from the demand for something related.
In other words, derived demand is a demand for goods and services like raw materials due to demand for its final products.
Hence, in this case, since the Pittsburgh-based Consol Energy's business is dependent on demand from particular consumers, whose business needs are also dependent on demands from specific consumers, this is then an example of Derived demand.
Therefore, in this case, it is concluded that the correct answer is option C, "Derived demand."
Your question is incomplete, but most probably your full question was:
Pittsburgh-based Consol Energy's coal business largely depends on orders from utilities and steel companies which, in turn, depend on broader economic demand from consumers for electricity and steel-based products like automobiles and appliances because of ________.
a. multiple sales calls professional purchasing
b. multiple buying influences
c. derived demand
d. fluctuating demand
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What industry cannot rely on estimation
There is no industry which can not relay on estimation, all industries needs estimation.
The two primary categories of this profession are construction and manufacturing, according to the Bureau of Labor Statistics. It states that more than half of all cost estimators work in the construction industry, where they may further specialize in projects for homes, businesses, industries, or the government.
Cost estimation aids in setting the project budget, planning the required work, and managing new resources. Cost estimates are also of the utmost importance when trying to win over new clients. Before starting actual building, property owners also utilize cost estimates to evaluate the viability of their projects.
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____________ is when suppliers allow a business to take possession of needed goods and pay for them at a later date or in installments. Group of answer choices Collateral A mortgage Trade credit Bartering
Trade credit
Small firms may be able to get finance in the form of trade credit from their suppliers. Suppliers enable the company to obtain the products and services it requires and pay for them later or in installments.
What is the meaning of trade credit?A business-to-business (B2B) agreement known as trade credit allows customers to make purchases of goods without paying in cash upfront and to make payments to suppliers at a later date. Businesses that use trade credits typically give customers 30, 60, or 90 days to make payment, with the transaction being documented by an invoice.
Trade credit can be compared to a form of 0% financing because it increases an organization's assets while deferring payment for a certain amount of products or services to the future and requires no interest payments throughout the repayment period.
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John is a sales associate who has complaints against him for making false statements about property and for giving advice about the purchase contract. This is the third time these same violations have been investigated. If John is found guilty of violating these two practices at the formal hearing, the maximum fine John can face is:
If John is found guilty of violating these two practices as regards the contract at the formal hearing, the maximum fine John can face is $10,000.
What is a contract and what is the fine for violation the agreement?A contract serves as the agreement between two or more parties, in this case of violation of the agreement terms, there is usually as fine.
Therefore, If John is found guilty of violating these two practices as regards the contract at the formal hearing, the maximum fine John can face is $10,000.
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suppose that a perfectly competitive firms marginal revenue equals $12 when it sells 10 units of output. if the marginal cost of producing the 10th unit is $14 to maximize its profit the firm should
To Maximize the Profit the Firm should Decrease its production.
What are perfectly competitive firms?A perfectly competitive firm is a price taker, which means that it must accept the equilibrium price at which it sells goods. If a perfectly competitive firm attempts to charge even a tiny amount more than the market price, it will be unable to make any sales.Agricultural markets are examples of nearly perfect competition as well. Imagine shopping at your local farmers' market: there are numerous farmers, selling the same fruits, vegetables and herbs. You can easily find out the prices for the goods, but they are usually all about the same.The three primary characteristics of perfect competition are
no company holds a substantial market share, the industry output is standardized, and there is freedom of entry and exit. The efficient market equilibrium in a perfect competition is where marginal revenue equals marginal cost.Therefore, to uphold its position in the market the firm should decrease
its production.
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The credit purchase of a new oven for $6,500 was posted to Kitchen Equipment as a $6,500 debit and to Accounts Payable as a $6,500 debit. What effect would this error have on the trial balance
The effect this error would have on the trial balance would be when the trial balance is completed, the amount in the debit column will be more than the amount in the credit column by $13,000.This is further explained below.
What is a trial balance?Generally, In a double-entry accounting system, if there is a discrepancy between the debits and credits, it means there was a mistake.
In conclusion, If this mistake is included in the final trial balance, it will cause the debit column to exceed the credit column by $13,000. You may learn more about this in the sections below.
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The existence of the federal income tax and the welfare system serve as the primary elements of?
The answer is nondiscretionary fiscal policy.
Nondiscretionary fiscal policy refers to measures that are incorporated into the system to automatically provide expansionary or contractionary stimulus. Nondiscretionary fiscal policy, for example, entails government measures that stimulate the economy when it needs it and deflate it when it needs it.
Nondiscretionary fiscal policy refers to numerous continuing government spending and taxing schemes. These are largely for the purpose of sustaining revenue. They are almost never modified. They consist of social security, welfare, and unemployment benefits.
Unemployment benefits are a common example of nondiscretionary fiscal policy. Payments must rise when the number of jobless rises, which occurs during an economic slowdown. When the jobless return to work as the economy improves, the payments must fall.
Therefore, the answer is non-discretionary fiscal policy.
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Claire has borrowed . She plans to pay off the loan in full after two payments. She will make one payment 3 years from now, then another payment 6 years from now. The second payment will be exactly double the amount of the first payment. How much is the first payment if the interest rate of the loan is , compounded annually
Answer:
$2,489.05
Explanation:
PMT=5000 / (1*1.085^-3 + 2*(1.085^-6))
PMT = $2,489.05
Pete is thinking of asking for his own car for his birthday. Which of the following is a financial responsibility that comes with vehicle ownership
Gas, Insurance, Registration are the financial responsibility that comes with vehicle ownership.
Financial responsibility laws, which are frequently related to automobiles, call on an individual or organisation to demonstrate that it is financially capable of covering accident-related expenses. The party is not expressly required under financial responsibility legislation to carry insurance. Instead, even if they are not at fault, the law demands that they be able to prove they have the resources to cover the entire cost of the losses.
For a number of different reasons, authorities may request proof of adherence to financial responsibility regulations. Police officers may demand proof after an accident has happened during routine traffic stops unrelated to accidents, while registering a car, and when applying to have a revoked or suspended driver's licence reinstated.
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A major benefit of a limited partnership is the limited partner is only liable for the_______________.
A major benefit of a limited partnership is the limited partner is only liable for the amount invested.
What is a limited partnership?
A limited partnership is when two or more partners establish a business together. There are two sets of partners in a limited partnership. One is known as the general partner. The general partner is in charge of the day to day running of the business and the general partner usually has unlimited liabilities.
The second type of partner is a limited partner. The limited partner only contributes capital and he is not involved in the day to day running of the business. The liability of this partner is limited to the amount invested in the business. This means that in the case of a bankruptcy or debt, the maximum amount the limited partner can lose is the amount invested in the business.
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You have just opened a new Italian restaurant in your hometown where there are three other Italian restaurants. Your restaurant is doing a brisk business and you attribute your success to your distinctive northern Italian cuisine using locally grown organic produce. What is likely to happen to your business in the long run
Your success will invite others to open competing restaurants and ultimately your profits will be driven to zero.
What is Managerial Economics?A subfield of economics called managerial economics deals with the use of economic principles in managerial decision-making. Economics is the study of how products and services are produced, distributed, and consumed. In managerial economics, choices on how to distribute finite resources are made using economic theories and principles.Economic frameworks are used by managers to maximize earnings, resource allocation, and overall firm production while enhancing productivity and reducing wasteful activities. These frameworks analyze real-world issues at the micro and macroeconomic levels in order to help firms make intelligent, forward-thinking decisions. Managerial economic techniques help to guide managers in these decisions. Managerial decisions entail forecasting (making decisions about the future), which involves levels of risk and uncertainty.When trade or business is brisk, a lot of money is being made and goods are being sold extremely quickly. Souvenir vendors were doing good business. Since, the restaurant is doing a brisk business, this success will invite others to open competing restaurants and ultimately your profits will be driven to zero.
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Fill in the blank: _____ is how a project manager makes use of productivity tools and creates processes. The project manager may need to use certain tools and processes to do tasks like create a schedule and share information.
Planning and organizing is how a project manager makes use of productivity tools and creates processes. The project manager may need to use certain tools and processes to do tasks like create a schedule and share information.
What is Planning and organizing?Planning and organizing serves as the managerial function that portray how how a project manager makes use of productivity tools and creates processes.
In this case, The project manager may need to use certain tools and processes to do tasks like create a schedule and share information.
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Which is the term used to describe the day to day actions & capabilities that help a person to be productive and well rounded?
The term which is used to describe the day to day actions & capabilities that help a person to be productive and well rounded is called life skills. Life skills are refered to as a series of social competencies and interpersonal skills that assist people make quality decisions, solve problems, and think critically and creatively, converse in speech function effectively, behave well, relate with others, and manage their lives.
What are the life skills?The basic life skills include the following:
Emotional Intelligence (EQ) Skills. Money Management SkillsCritical Thinking SkillsDaily Living SkillsCommunication SkillsTherefore, the correct answer is as given above
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Assuming that all occupied blocks need to be moved, how long will it take to compact the memory
Assuming that all occupied blocks need to be moved, to compact the memory it will take a while.
To compact the memory all the free partitions are made contiguous and all the loaded partitions are brought together. Also, all the occupied blocks need to be moved.
By applying this technique, we can store the bigger processes in the memory. The free partitions are merged which can now be allocated according to the needs of new processes.
When you compact the memory, it moves the in-use areas of memory to eliminate holes in order to create larger contiguous free areas.
Hence, to compact the memory it will take a while.
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_____________ is a condition in which the quality, variety, and/or desirability of the diet is reduced and there is difficulty at times providing enough food for everyone in the household.
The storage of funds for future use is a purpose of _____________blank, which include savings accounts and certificates of deposit.
The storage of funds for future use is a purpose of time deposits, which include savings accounts and certificates of deposit.
You can buy a time deposit, like a CD, at almost any bank, credit union, or other financial organization. Other terms as well as the interest rates paid vary. One bank can, for instance, provide a better return but demand a larger down payment. Shopping around pays off. The majority clearly display and heavily promote their rates.
In essence, a CD is a savings account that is formed with the agreement that the owner won't touch the funds for a predetermined amount of time. This may take a few weeks to several years. Short-term time deposits have terms of one year or less. Any sum in excess of that is a long-term deposit.
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Dana lives in her Newport property nine months out of the year and uses it as a rental for the remaining three months. Is she liable for paying an excise tax on her short-term rental
No, she is not liable for paying an excise tax on her short-term rental because it only applies to short-term rentals of fewer than eight consecutive days.
A statute governing and taxing short-term house and condo rentals was approved by the governor on December 28 and became law on January 1, 2019. A rental with a duration of 31 days or less is considered short-term. Exemptions from this tax include annual and long-term leases (32 days or more). 2019 January 1 marked the start of the tax. The rental tax must be included in any lease that is signed on or after this date for a rental period that starts on July 1, 2019, or later.
All rentals beginning before July 1st, 2019 were therefore exempt from taxation. Like any tax paid at a hotel or motel, the lodging tax is the responsibility of the tenants. Vacationers are growing more accustomed to paying one since private rental lodging taxes are widespread around the nation, including in every other New England state. Renters must pay this tax regardless of the type of residence they choose because no one is exempt.
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Flexible Budgeting At the beginning of the period, the Fabricating Department budgeted direct labor of $72,000 and equipment depreciation of $18,500 for 2,400 hours of production. The department actually completed 2,350 hours of production. Determine the budget for the department, assuming that it uses flexible budgeting.
The budget for the department is $89,000.
A flexible budget is a finance that adjusts to the interest or quantity levels of a company. Unlike a static price range, which does not exchange from the amounts installed whilst the budget turned into created, a flexible budget continuously "flexes" with an enterprise's variations in expenses.
Flexible finances will include strains for one-of-a-kind quantities. As instance, if your manufacturing of widgets is a hundred steps per month, your variable admin prices can be $2 hundred per month. however, if your production of widgets is 2 hundred in line with the month, your variable admin expenses would boom to $400.
A flexible price range is one based on distinctive volumes of sales. A bendy price range flexes the static budget for every predicted level of manufacturing. This adaptability lets in control to estimate what the budgeted numbers might seem like at diverse levels of income.
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Price is constant to the individual firm selling in a purely competitive market because Multiple Choice of product differentiation reinforced by extensive advertising. marginal costs are constant. the firm's demand curve is downsloping. each seller supplies a negligible fraction of total supply.
Price is constant to the individual firm selling in a purely competitive market because each seller supplies a negligible fraction of the total supply.
A hypothetical market system is referred to as perfect competition. There are no monopolies under a scenario of perfect competition. A few essential traits of this type of structure include:
All businesses sell the same thing (the product is a commodity or homogeneous).Every company is a price taker (they cannot influence the market price of their products).Price changes are unaffected by market share.Buyers have complete or perfect knowledge of the product being offered and the prices each company is asking (in the past, present, and future).Labor and capital resources are completely mobile.Companies are not charged to enter or leave the market.Hence, the price is constant to the individual firm selling in a purely competitive market because each seller supplies a negligible fraction of the total supply.
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Price is constant or given to the individual firm selling in a purely competitive market because : each seller supplies a negligible fraction of the total supply.
A competitive person is eager to be more successful than other people. He has always been ambitious and fiercely competitive. Synonyms: ambitious, pushing, opposing, etc.
Competitive people are usually the ones that have found something they care about deeply. They are good at finding a reason to care about what they're doing. They realize that they might not start out good at something, but they find a reason to practice and become better.
An example of competitive is the process in which major league baseball teams play against each other. An example of a competitive is a student who wants to be number one in her class.
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Scenario 1: If the company constructs 9 apartment buildings, the number of stores will be . Scenario 2: If the company is producing at point C, the opportunity cost of building 3 more stores will be apartment buildings.
The number of stores will be 3 and the opportunity cost of building 3 more stores will be 6 apartment buildings.
How to explain the opportunity cost?The Vertical Line represents the number of Stores. The horizontal line represents the number of Apartments.
Take a look at point E. When the apartment is 9, the stores that they could build is 3.
In point C, the company produces 6 Apartments and 7 Stores. If the company wants to build 3 more stores it would become 10 stores. Take a look at point A. Where the stores are 10, the company cannot build any apartments, which means that they had to sacrifice all 6 from point C.
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Changes in property, plant and equipment relate to the ______ activities on the statement of cash flows. Multiple choice question. operating financing investing
Changes in property, plant, and equipment related to the investing activities on the statement of cash flows.
The cash flow statement reveals how much money is made or spent on operating, investing, and financing activities during a certain time period, bridging the gap between the income statement and the balance sheet.
The cash generated or spent in relation to investment activities is shown in the cash flow from investing activities portion of the cash flow statement.
Buying tangible assets, investing in securities, or selling securities or assets are all examples of investing activity.
If management is investing in the long-term health of the company, negative cash flow from investing operations could not be a bad indicator.
Hence, Changes in property, plant, and equipment related to the investing activities on the statement of cash flows.
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The three purposes for which individuals or groups can use products in order for it to be considered a business market are:_________
The three purposes for which individuals or groups can use products in order for it to be considered a business market are:
Resaleuse in daily operationsdirect use in producing other products.This is further explained below.
What is the market?Generally, A market is a location where individuals, often buyers and sellers, may congregate to assist the buying and selling of various commodities and services.
In conclusion, It is necessary for people or organizations to utilize items for at least one of the following three objectives for there to be a market for commercial goods and services:
On resale; for use in day-to-day activities; as a direct input into the production of other goods.
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What is the core content included in each section of the report?
Title page, Table of contents, Executive summary, Introduction, Discussion, Conclusion, Recommendations and References are the core content included in each section of the report.
A report is a written document that organizes information for a particular audience and use. Complete reports are nearly always supplied in the form of written papers, despite the fact that summaries of reports may be given verbally.
Report writing is a formal way of writing in-depth about a subject. Reports always have an official tone. Always consider who the intended audience is before writing a section. Writing a report about a school event, a business case, etc. are a few examples.
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When curt’s catering first opened, the owner decided to target only events at resorts in its geographic region. curt’s catering was using a(n) ________ targeting strategy.
When curt’s catering first opened, the owner decided to target only events at resorts in its geographic region. curt’s catering was using a(n) concentrated targeting strategy.
Concentrated marketing is a marketing strategy in which a company focuses on a specific audience for most or all of its marketing initiatives. Companies that use focused marketing emphasize how their products meet the unique needs of a niche audience.
A marketing segmentation strategy in which we focus all our efforts and resources on services to market segments. Also known as niche marketing.
There are typically four different types of market targeting strategies.
Mass Marketing (Undifferentiated Marketing)
Segmented Marketing (Differentiated Marketing)
Centralized Marketing (Nitch Marketing)
Micro Marketing.
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currently a monopolist's profit-maximizing output is 400 units per week. it sells its output at a price of $70 per unit and collects $40 per unit in revvenues from the sale of the last unit produced each week. the firms tptal costs each weel are $7,500
The answer is:
A) $ 20,500
B) $40.
C) $ 18
What is Monopolist Market ?A monopolist market is a market that is expressed theoretically as the place where a single company offers the products and services to its customers. It is very opposite to the perfectly competitive market that includes the infinite number of firms operating with the number of buyers.
According to the scenario, the computation of the given data are as follows:
Given:
Total Cost per week = $7,500
Total weekly Output = 400 unit
Price per Unit = $70
Revenue per Unit = $40
A) What are the firm's weekly economic profits?
The company's weekly economic profit = Total Revenue - Total Accounting Cost - Total Opportunity Costs
Revenue per week = Total Output x Price per Unit
= 400 units x $ 70 = $28,000
Weekly economic profit = $7,500
Weekly economic profit = $28,000 - $7,500
= $ 20,500
B) What is the firm's marginal cost?
Since the firm is maximizing its profits, its marginal revenue = marginal cost. Since the marginal revenue of the last unit sold= $40, then the marginal cost of the last unit sold = $40.
C) The Firm's average total cost = Total cost / Number of units
Firm's average total cost = $ 7,500 / 400
Firm's average total cost = $ 18
Your question is incomplete, but most probably your full question was:
Currently, a monopolist's profit-maximizing output is 400 units per week. It sells its output at a price of $70 per unit and collects $40 per unit in revenues from the sale of the last unit produced each week. The firm's total costs each week are $7,500 per week.
a. What are the firm's weekly economic profits?
b. What is the firm's marginal cost?
c. What is the firm's average total cost?
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For a bond issue which sells for less than its face amount, the market rate of interest is?
For a bond issue which sells for less than its face amount, the market rate of interest is higher than the rate stated on the bond.
Bonds can be sold for more and less than their par values because their interest rates change depending upon the market conditions. Like most fixed-income securities, bonds are highly correlated to interest rates. Thus, when interest rates go up, a bond's market price will fall and vice versa.
The actual market value of a bond may not be reliably as indicated by its face value because there are many other influencing forces at play, such as supply and demand in the market.
Hence, when the price of a bond goes above its face value, it is said to be a premium bond, and when the price is below its face value, it is known as a discount bond.
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Arguing that globalization is ultimately driven by joint gains from mutually beneficial trade is an argument from which perspective
Arguing that globalization is ultimately driven by joint gains from mutually beneficial trade is an argument from the liberal perspective.
What does the liberal viewpoint entail?Liberal beliefs regarding the nature and purpose of law are centered on defending individual freedom. Liberals, following John Stuart Mill, argue against enforcing morality on the grounds that the use of coercion or control is not justified by society's conception of what is ethically appropriate. According to the liberal perspective, acts that damage or wrong people but to which they consent—often referred to as victimless crimes—are not properly criminalized. Thus, for a liberal, the border between the sex that ought to be criminalized and sex that shouldn't is the line between uninvited sex and sex that ought to be allowed.
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