Out of the alternatives provided, it is to be ascertained that purchasing a building for $95,000 by paying cash of $5,000 and signing a note payable for $90,000 will increase both total assets and total liabilities by $90,000. Therefore, the option C holds true.
The assets and liabilities of an accounting firm determines and represents the financial position that it has. When a capital is being brought in it leads to an increase in its assets, however, when it is being brought on credit, the liabilities also tend to increase.
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the new kind of shopping promoted in department stores encouraged consumption through the exploitation of visual pleasures through:
The new kind of shopping promoted in department stores encouraged consumption through the exploitation of visual pleasures through various techniques such as:
Display goods in an attractive and appealing manner.Use of lighting, color, and layout to create a visually stimulating environment.Use of mannequins and window displays to showcase the latest fashion trends.Use of music and scents to create a pleasant and inviting atmosphere.Offer services such as personal styling, gift wrapping, and home delivery to make the shopping experience more convenient and enjoyable.Use of advertising and promotions to create a sense of urgency and desire for the products being sold.These techniques were used to create a more immersive shopping experience that would entice customers to buy more.
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the occupancy of the property is 50% and reimbursable expenses are grossed up to 100%. what is the operating expense amount that will appear on the cash flow report?
The operating expenditure that will appear on the cash inflow report is the sum of the factual operating charges and the reimbursement system.
Since residency of the property is 50, the factual operating charges would be half of the total operating charges. The reimbursable charges would be the remaining half of the total operating charges. To calculate the operating expenditure that will appear on the cash inflow report, the reimbursable charges need to be grossed up to 100. This is done by multiplying the remaining half of the total operating charges by 2. The total operating charges will be equal to the sum of the factual operating charges and the grossed up reimbursable charges. This quantum will be the operating expenditure quantum that will appear on the cash inflow report.
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the granting of a loan and the creation of debt; any form of deferred payment
Credit refers to any form of deferred payment, the granting of a loan and the creation of debt.
One of the most popular annuities that let investors contribute and get regular payouts over time is a deferred payment annuity. A deferred payment investment is one that offers planned payouts at a later date. Individual retirement accounts (IRAs) fall under this category.A deferred payment option gives you the legal right to postpone (delay) the operational payment of an investment until a later time. Deferred payment options are classified as an exotic option in the options market because of their more intricate structuring and higher level of illiquidity compared to their plain vanilla counterparts.If you're having trouble making loan payments, deferring them may be a good option because it doesn't negatively affect your credit scores. Delaying payments, however, can have additional negative financial effects.To know more about deferred payment here
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identify the three factors that help determine how to account for investments in securities. multiple select question. the percent ownership the dollar amount of the investment the intent to hold as either short-term or long-term the security type (debt or equity)
The term specified in Investment securities is securities used for investing. The answer is percentage ownership, intention to hold short or long-term, and type of security.
Investments are assets such as stocks, bonds, and mutual funds that can be bought or sold on public markets or stock exchanges. These stocks can be held longer and traded in less time, sometimes on the same day.
When it comes to long-term investing, experts generally recommend ignoring the short-term price movements of the various assets in your portfolio and looking for long-term growth.
There are many different approaches to stock investing, such as value investing or growth investing. Securities are negotiable and tradable financial instruments used to raise capital in public and private markets.
The question should be:
From the following, identify the three factors that help determine how to account for investments in securities.
a) the percent ownership
b) the dollar amount of the investment
c) the intent to hold as either short-term or long-term
d) the security type (debt or equity)
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suppose you are given the task of determining if this proposed study should get funding. would you have any reservations about the study proposal?
Yes, I would have some reservations about the design of the study. The study proposal does not provide enough detail about the methodology used and the research design.
It also does not provide enough information about the objectives of the study, target population, sample size, data collection methods and other important aspects of the study. Without this information, it is difficult to assess the feasibility of the study and its potential to produce meaningful results. Additionally, without a detailed budget, it is impossible to determine whether the proposed study represents an appropriate use of resources. Therefore, without further information, it is not possible to determine whether this proposed study should receive funding.
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1. for financial accounting purposes, what is the total amount of product costs incurred to make 25,250 units?
Product cost is the direct cost associated with manufacturing the product. For example, the manufacturer would bear the cost of the product, which includes: Direct labor. raw material. Materials for production.
What is the total cost of the product required to produce 25,250 units?
The three categories of overheads considered in manufacturing processes are direct materials, direct labor, and general Expenditure. There are some exceptions, as some service industries have no direct material costs and some automated manufacturing companies have no direct labor costs.
Direct Labor + Direct Material + Factory Overhead = Product Cost Formula.
Indirect Labor + Indirect Material + Other OH Factory = OH Factory.
Cost per unit of product (Total Cost of Product) / Number of Units Produced = Formula of Product Cost per Unit.
Cost per Unit = (Electricity + Rent + Labor + Raw Materials) / Number of Units. No specific method or formula for calculating the cost for the period.
To calculate expenses for the period, management can track the expense records for the period and identify the expenses included in the income statement. losses and are not directly related to the formation of inventories.
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which national program teaches youth how to make, save and spend money wisely?
Answer:
Financial Fitness is an FCCLA national peer education program that involves youth teaching one another how to make, save, and spend money wisely. Through FCCLA's Financial Fitness program, youth plan and carry out projects that help them and their peers learn to become wise financial managers and smart consumers.
Explanation:
What are the four types of assets a person can own?
When we speak about means in account, we are generally pertaining to six different orders current assets, fixed assets, palpable assets, impalpable assets, operating assets, and non-operating assets.
Mortal capital includes means like education, training, intelligence, chops, health, and other effects employers value similar as fidelity and promptitude. As similar, it's an impalpable asset or quality that is not( and can not be) listed on a company's balance distance.
Mortal means are the accumulated knowledge and chops that make a pool productive and are part of the Impalpable means the company. “ The single most important assets we all have is our mind. However, it can produce enormous wealth in what seems to be an moment, If it's trained well. ”
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according to milton friedman, the social purpose of a business is to make profit. [see p.51] group of answer choices true false
The statement, "According to Milton Friedman, the social purpose of a business is to make profit." is true.
Milton Friedman proposed in 1970 that the only social obligation of business is to maximize profits, as long as the enterprise follows the requirements of the law. He vehemently disagrees with the notion that companies should make social contributions beyond what is necessary by law and for the smooth operation of their operations.
Although most economists think that Friedman's approach to ethics is flawed, he does say that business should act ethically and avoid lying to customers and committing other forms of fraud. It's immoral to utilize child labor, for example in the case, even though it may not be prohibited by law in a given nation.
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Do banks pay interest to the Reserve Bank?
Yes, banks pay interest to the Reserve Bank.
What is Reserve Bank?A central bank, reserve bank, or monetary authority is the body that controls the currency and monetary policy of a country or monetary union and oversees its commercial banking system. Unlike commercial banks, reserve bank have a monopoly on the growth of the monetary base.The Federal Reserve Bank is often referred to as the "bank bank" because it provides commercial banks with services similar to those provided by commercial banks to their customers. The Federal Reserve distributes currency and coins to banks, lends money to banks, and processes electronic payments.The Reserve Bank is the country's central bank. Reserve Bank are a relatively recent innovation, and most of the Reserve Bank known today were founded in the early 20th century.To learn more about Reserve Bank from the given link :
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Why do mixed economy in both public and private sector?
In a mixed economy, the private and public sectors coexist. There is some economic latitude, allowing companies to decide how best to allocate their resources and chase profits.
Is mixed economy private or public?A mixed economy is one that mixes the private and public sectors. The majority of the means of production are often still privately owned in mixed economies, with government intervention coming in the form of laws.
In a mixed economy, elements of both capitalism and socialism are present. A nation with this type of economy essentially consists of public and private sectors, with private businesses aiming for profit maximization and the government sector focusing on the welfare of the population.
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what businesses in the north and in england depended on the cotton grown and harvested by enslaved africans in the south?
Textile manufacturers businesses in the North and in England depended on the cotton grown and harvested by enslaved Africans in the South.
Textile manufacturers businesses of Cotton was said to have transformed the United States, by making the fertile land in the Deep South, from Georgia to the Texas, by extraordinarily valuable. Thus, growing more cotton meant an increased demand for the slaves.
Enslaved Africans in the Upper South became incredibly more valuable as the commodities because of this demand for them in the Deep South. Thus, the cotton grown in the South was sent to the Northern factories who in turn made cotton products.
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true or false: an organization defines its strategy through the trade-offs it makes in choosing what to do and what not to do.
An organization defines its strategy through the trade-offs it makes in choosing what to do and what not to do is true.
A company's essential course of action is referred to as its strategy. The tradeoffs between options for what to undertake and what not to do determine an organization's strategy. IBM was used as an illustration of a company that modified its compensation structure and business strategy to fit a new business strategy.
The management's choice of policy entails making sure that the proper compensation is given to the proper individuals for reaching the proper goals in the proper manner. Most managers study research in journals related to HR management and pay because it includes knowledge that is helpful to managers.
Although different businesses may have different methods for determining remuneration, must take into account the external market, the experience and skill set of a candidate, the level of talent applying for the position, and an internal formula.
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consider the case of a balance-of-trade deficit in the united states, along with a floating exchange rate. while a trade deficit in the united states might normally the us dollar, many international trades are governed by contracts and agreements that were made in the past and be adjusted instantaneously. this leads to what is known as the .
Consider the case of a balance-of-trade deficit in the United States, along with a floating exchange rate. While a trade deficit in the United States might normally weaken (1) the US dollar, many international trades are governed by contracts and agreements that were made in the past and cannot (2) be adjusted instantaneously. This leads to what is known as the J curve effect (3).
A balance-of-trade deficit occurs when the US' imports exceeds it export during a period of time. This condition might normally weaken the US dollar since many US dollar were exchanged into foreign currencies and made more US dollar exit the US.
Because of its position as an international transaction currency, many international trades made based on the US currency. However, since those contracts of international trades cannot be instantaneously changed based on the new US dollar exchange rate, the demand for dollar-bassed assets and treasuries will be higher.
This will lead to a higher exchange rate for the US dollar and quickly recover the balance-of-trade deficit even suprasses its previous performance. This condition is known as J Curve Effect.
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Complete Question:
Consider the case of a balance-of-trade deficit in the United States, along with a floating exchange rate. While a trade deficit in the United States might normally _____ (1) the US dollar, many international trades are governed by contracts and agreements that were made in the past and ____ (2) be adjusted instantaneously. This leads to what is known as the ____ (3)
Drop down options:
Weaken / StrengthenCan / CannotEfficient Market Hypothesis / J Curve Effect / Tax Break Effect / Dumping Effectnestle toll house valentine chocolate chip cookie dough
They are safe to eat raw with pasteurized eggs and heat-treated flour, the company Nestlé Toll House says.
What is Nestlé Toll House Valentine's Chocolate Chip Cookie Dough?
The manufacturer claimed that using pasteurized eggs and heat-treated flour makes them safe to eat raw. There are three types of cakes available: Chocolate Chip Cookies, Peanut Butter Chips, and Vegan Chocolate Chips. Keep this chocolate chip cookie in the fridge until the expiration date printed on the package, or freeze ahead of time and thaw when ready to eat. Due to the possible presence foreign objects, Nestlé USA has announced a voluntary recall of its NESTLÉ® TOLL HOUSE® FILLED Dark Chocolate Cake effective October 17, 2022.
You'll appreciate this information if you were one of those kids (or adults, we're not judging) who licked the spoon after mixing cookie dough.
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Shemar performs planning, organizing, and controlling functions for his organization, so he should be considered a manger
true or false
Shemar performs the functions of planning, organizing, and controlling for his organization, which are considered the core management functions. This statement is true.
Therefore, it is likely that Shemar is considered a manager within his organization. Planning involves setting goals and objectives and determining the best course of action to achieve them.
Organizing involves arranging and coordinating resources, such as people, money, and materials, to accomplish the organization's goals. Controlling involves monitoring progress and taking corrective action to ensure that goals are met.
These functions are typically carried out by managers at various levels within an organization. They help managers to guide and direct the work of others, and to ensure that the organization is operating effectively and efficiently.
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How much is federal income tax?
Individual federal income tax rates are progressive, which means that as taxable income rises, so does the tax rate. Federal income tax rates start to apply at certain income thresholds and range from 10% to 37%. Tax brackets refer to the ranges of income that the rates cover. The applicable tax rate is applied to income that is subject to each bracket.
The term "taxation" refers to the process through which a taxing authority, typically a government, levies or imposes a monetary obligation on its people or citizens. Since the dawn of civilisation, paying taxes to governments or authorities has been a fundamental social institution.
All involuntary levies, including income, capital gains, and estate taxes, are referred to as "taxation" in this context.
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the best definition of estate planning is: group of answer choices investment planning titling and beneficiary naming a plan for managing property during lifetime and at death a plan for the disposition of all assets at death
A strategy for handling property both during one's life and after death is the best definition of estate planning.
Estate planning is the process of organizing duties to handle a person's financial condition in the case of their incapacity or passing. The distribution of assets to heirs, the payment of estate taxes and debts, as well as additional issues like the guardianship of minors and pets, are all included in the planning.
The majority of estate plans are created with the assistance of an estate law professional. Estate planning often entails a number of processes, such as creating wills, evaluating accounts, and detailing assets and debts.
Making decisions on how to protect, administer, and distribute a person's assets after death is known as estate planning. In addition, consideration is given to how a person would manage their financial obligations and assets in the event of incapacity.
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Is free enterprise limited or unlimited?
The role of a limited government is one of the most crucial elements of a market economy, also known as a free enterprise economy.
Is free enterprise a limited government?The foundation of a free enterprise system is personal freedom. It is essential to be able to engage in economic activities in accordance with personal freedom. A free enterprise system is characterized by private property, economic freedom, financial incentives, competitive marketplaces, and a limited role for the government.
Instead of the government, buyers and sellers make the majority of economic decisions. A market economy that is competitive encourages resource management that is effective. Constitutional government is limited government. Totalitarian and authoritarian systems can exist in unlimited numbers. One crucial element of limited government is the rule of law.
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One of a market economy's most important components—also called as a free enterprise economy, is the role of a limited government.
Is free enterprise a limited government?Personal liberty is the cornerstone of a free-market economy. The ability to conduct economic activity in conformity with personal freedom is crucial. A free enterprise system is defined by private property, economic liberty, financial incentives, competitive marketplaces, and a restricted role for the government.
The majority of economic decisions are made by buyers and sellers as opposed to the government. Effective resource management is encouraged by a competitive market economy. A government that is limited by the constitution. There are an infinite amount of totalitarian and authoritarian regimes. Among the most important components of limited government is the rule of law.
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you are asked to conduct an analysis on two different cancer treatments. treatment a provides 1.5 qalys and costs $150,000/year. treatment b costs $100,000/year and provides 1.5 qalys. which pharmacoeconomic analysis should you conduct?
the treatment that planners would prefer by cost-efficiency criteria is treatment B because it has a lower cost per QALY.
What is pharmacoeconomic analysis?It is possible to think of pharmacoeconomics as a subfield of health economics that examines, quantifies, and compares the expenses and effects of pharmaceutical goods and services. It assists in establishing an economic connection between drug research, manufacture, and distribution, storage, pricing, and subsequent human usage. Cost reduction, cost effectiveness, cost benefit analysis, and cost utility analysis are a few of the ideas used in pharmacoeconomic analysis. When comparing two medications from the same therapeutic class, Pharmacoeconomics may be a huge aid in decision-making when analyzing the cost of and availability to the appropriate treatment for the right patient at the right time. This aids in proving responsibility and the validity of a manufacturer's claims about a product.
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What were the overall long-term effects of the atlantic slave trade?
The slave trade has had a negative impact on domestic institutions and governance, and trust is declining today. Furthermore, the slave trade directly reduced the degree to which individuals inherently trusted others.
What is slave trade?
The slave trade refers to the transatlantic trade pattern established in the mid-17th century. The merchant ship sailed from Europe with a cargo of finished goods to the west coast of Africa.
Who has started slave trade in Africa?
In the 15th century, Portugal was the first European country to play a significant role in the African slave trade. The Portuguese acquired slaves primarily to work on plantations in the Atlantic and African islands, later working on plantations in Brazil and the Caribbean, but also sent a few to Europe.
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enrique wants to set a goal for his team to generate 50% more in revenues than it did last quarter. which major barrier to goal setting is most relevant for him to consider given what you know about his team? improper reward system inappropriate goals resistance to change dynamic environment enrique wants to encourage his team members to accomplish the goal of learning a new skill each quarter. what should enrique do? understand the purpose of goals. check that the goal is consistent horizontally and vertically. update the goal regularly. reward those who accomplish the goal.
Enrique should understand the purpose of goals in order to set an effective goal. He should make sure that the goal is consistent horizontally and vertically within the organization, and that the goal is updated regularly.
Additionally, he should reward those who accomplish the goal in order to motivate and encourage them to keep striving for success.
An organisation is a formal gathering of people, such as a business, charity, political party, or club. According to an International Labour Organization report, the majority of these specialist schools are offered by nonprofit groups.
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computer equipment was acquired at the beginning of the year at a cost of $56,000 with an estimated residual value of $5,000 and an estimated useful life of five years. determine the second year's depreciation expense using the straight-line method.
The second year's depreciation expense using the straight-line method would be $10,200 ($56,000-$5,000) / 5 years.
The straight-line method of depreciation is used to calculate the depreciation expense of an asset over a period of time. Using this method, the depreciation expense is calculated by subtracting the residual value of the asset from the cost of the asset, and then dividing the result by the estimated useful life of the asset.
In this case, the computer equipment was acquired at the beginning of the year at a cost of $56,000 with an estimated residual value of $5,000 and an estimated useful life of five years.
The formula for calculating the second year's depreciation expense is:
Depreciation expense = (Cost of the asset - Residual value) / Estimated useful life
So, the second year's depreciation expense would be:
Depreciation expense = ($56,000 - $5,000) / 5 = $10,200
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How to promote SDG 8?
By following we can promote SDG 8
Implement international labor norms, such as freedom of association, collective bargaining, and social dialogue, as a method of putting the 2030 Agenda into action.
Implement comprehensive employment policies, including assistance to labor-market institutions.
The official sector has done so, and measures must be taken to do so in the informal sector as well. Make trade certification a requirement. Make funds available for skill training in the informal sector. Employment exchanges, as well as skill development and knowledge sharing for employment.
How can an individual help to achieve the aims of sustainable development?
Donate everything you don't use.
Reduce food waste and support local farmers.
Vaccinate yourself and your family.
Assist with the education of children in your neighbourhood.
Empower the women and girls around you and work to achieve equality.
Water should not be wasted.
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on june 1, unidevo, inc., purchased $2,300 worth of supplies on account. prior to the purchase, the balance in the supplies account was $350. on december 31, the fiscal year-end for unidevo, it is determined that $500 of supplies still remain. what is the balance in the supplies account after adjustment?
Based on the provided information regarding account adjustment, the balance in the supplies account after adjustment is $500.
Account adjustments, also called adjusting entries, refer to the entries that are made in the general journal at the end of an accounting period to bring account balances up to date. Unlike entries made to the general journal that are a result of business transactions, account adjustments are a result of internal events. When buying supplies for the company, the expense is recorded in the supplies account. Once the supplies are used, they become an expense that must be listed on the income statement. An adjusting entry should be made to the general ledger that reflects the value of the supplies used in the current period. As it is stated that the balance in the supplies account was $350, and the purchase was worth $2,300. On December 31, it was seen that $500 of supplies that remain, and the adjustment is made for the supplies used and the balance in the supplies account after adjustment is $500 as it is the supplies that remain.
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labor relations requires hr specialists to negotiate with competing businesses for market share. group of answer choices true false
The statement is False.
Labor relations is a specific field of human resources (HR) that deals with the relationship between employers and employees and the negotiation of terms and conditions of employment such as wages, benefits, working hours, and working conditions.
It involves HR specialists negotiating with employee representatives such as union leaders, to reach agreements on wages, benefits, and other conditions of employment. This process is usually done through collective bargaining. Labor relations do not involve negotiating with competing businesses for market share.
which is a business strategy that deals with how a company compares to its competitors in terms of market position, product offerings, pricing, and distribution.
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question 6 data analysts ensure their analysis is fair for what reason? 1 point fairness helps them communicate with stakeholders. fairness helps them avoid biased conclusions. fairness helps them stay organized. fairness helps them pick and choose which data to include from a dataset.
Fairness enables data analysts to communicate with stakeholders, thus they take care to ensure it in their analyses.
Findable, Accessible, Interoperable, and Reusable (FAIR) data are those. Sounds straightforward enough, but what do these concepts actually imply in the real world, and how can you verify if the study data you are using is FAIR?
A data analyst could adhere to best practices in data ethics to remedy unfair practices, such as confirming the accuracy and representativeness of the data, using proper statistical techniques to prevent bias, and routinely monitoring and auditing their analytical processes to guarantee fairness.
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Is savings part of gross income?
Savings are not considered part of gross income. Gross income is the total revenue earned by an individual or organization before any deductions, such as taxes or expenses, are made.
Savings refers to the amount of money that is set aside and not spent, and it is usually calculated as a percentage or dollar amount of the net income (income after taxes and expenses are subtracted).
For example, if an individual earns $100,000 in gross income and has $20,000 in expenses and taxes, their net income will be $80,000. If they set aside 10% of their net income as savings, then they will save $8,000. Savings are not included in the calculation of gross income, and savings are typically not taxed.
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An accessories company finds that the cost and revenue, in dollars, of producing x belts is given by C(x) and R(x) , respectively. Determine the rate at which the accessories company's average profit per belt is changing when belts have been produced and sold
When 180 belts have been produced and sold the average profit is changed at 0.7190 dollars per belt for each additional belt.
Define Average Profit.Divided by output, average profit is the sum of all profits. It's a method for figuring out the profit margin made on each unit of a manufactured or sold well. Economic profit, taking into account opportunity cost, might be considered normal if it equals zero.
Given
cost function C(x) = 790 + 39x - 0.069x²
and Revenue R(x) = 65x
Now profit = revenue - cost
7 P(x) = R(x) - C(x)
= 65[tex]x^{9/10}[/tex] - 790 - 39x + 0.069 x²
Now Average Profit
P(x) = P(x)/x = (65[tex]x^{9/10}[/tex] - 790 - 39x + 0.069 x²) / x
= 65[tex]x^{-1/10}[/tex] - 790/x - 39 + 0.069 x
Differentiating with respect to x,
P(x) = d/dx ([tex]x^{-1/10}[/tex] - 790/x - 39 + 0.069x)
= 65 × (-1/10). [tex]x^{1-/10-1}[/tex]+ 790/x² - 0 + 0.069x
= -6.5 [tex]x^{-11/10}[/tex] + 790/x² + 0.069
For x = 180
P(180) = -6.5 × (180)[tex]-11/10^{2}[/tex] + 790 / (180)² + 0.069
= 0.071879
= 0.7190
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The complete question is:
An accessories company finds that the cost and revenue, in dollars, of producing x belts is given by C(x) = 790 + 39x - 0.069x and R(x) = 65[tex]x^{9/10}[/tex]¹⁰, respectively. Determine the rate at which the accessories company's average profit per belt is changing when belts have been produced and sold (Round to four decimal places as needed.)
Competitive Market
A market in which there are many buyers and sellers of the same good or service, none of whom can influence the price at which the good or service is sold.
Supply and Demand Model
A model of how a competitive market works.
"price-takers"
Suppliers and Demanders are _______.
Demand Curve
Tells us how much consumers are willing to buy at each price. Shows relationship between quantity demanded and price.
Supply Curve
Tells us how much a firm is willing to sell at each price. Shows relationship between quantity supplied and price.
Equilibrium
The models predicition for the resulting price and quantity transacted in the market.
Quantity Demanded
Amount demanded at ONE PARTICULAR price. The actual amount of a good or service consumers are willing to buy at some specific price,
Demand
The quantity demanded at EVERY price.
Law of Demand
Quantity demanded is higher when prices are lower, all other-things equal, or demand curves slope downward.
Change in price causes a movement,
Outside event causes a shift in the curve
What causes a movement along a curve and what causes a shift in the curve? (supply or demand)
1) changes in prices of related goods
2) Changes in Income
3) Changes in Tastes
4) Changes in expectations
5) Changes in the Number of Consumers
What five things cause the demand curve to shift?
Substitutes
Goods that take the place of the good of interest
Decrease
Decrease in the price of a substitute good in consumption will ________ the demand for a given good.
Increase
Increase in the price of a substitute good in consumption will ________ the demand for a given good.
Complements
Goods that enhance the good of interest. Goods consumed together.
decrease
Increase in the price of a complement in consumption will _______ the demand for a given good.
Increase
Decrease in the price of a complement in consumption will ________ the demand for a given good.
increase
An Increase in income will __________ the demand for a normal good.
Decrease
A decrease in income will _____ the demand for a normal good.
decrease
An increase in income will ______ the demand for an inferior good.
increase
A decrease in income will _______ the demand for an inferior good.
Increase
An increase in taste for a good will ______ demand. (vice versa)
future
We respond to ______ expectations for income and prices.
decrease
An expected decrease in price will _______ the demand today.
Increase
An expected increase in price will __________ the demand today.
Increase
More consumers in a population will _____ the demand.
Increase
Population movements to california will ____ the demand for housing in california.
Market demand Curve
The horizontal sum of individual demand curves.
Quantity Supplied
The amount supplied at ONE PARTICULAR price. Amount of a good or service producers are willing to sell at some specific price.
Supply
The quantity supplied at EVERY price.
THERE ISNT ONE.
Supply curve doesn't neccessarily have to be upward sloping.
What is the Law of Supply?
1) Changes in input prices
2) Changes in the prices of related goods or services
3)Changes in technology
4) Changes in Expectations
5) Changes in number of producers
What are the 5 things that might shift a supply urve
decrease
An increase in input prices causes a ______ in supply.
increase
A decrease in input prices causes a _____ in supply.
decrease
An increase in the price of substitutes in production will _____ supply.
increase
A decrease in price of substitutes in production will _______ supply.
increase
An increase in price of complements in production will _____ supply.
decrease
A decrease in the price of complements in production will _______ supply.
Technology
What transforms inputs into outputs.
Increase; It reduces input needs/overall input costs.
Better technology will generally ____ supply.
reduce; increase
Suppose firms expect the demand for diamonds to increase next year. Firms will ______ supply today, and ______ supply next year.
increase
More firms _____ supply,.
decrease
Less firms _____ supply.
Surplus
Price at which supply is greater than demand
Shortage
Price at which demand is greater than supply.
Supply equals demand. (until market is in equilibirum)
If economy is in a surplus or shortage, the price will change until.....
one; move along
For one event, shift _____ curve and ______ the other.
In economic theory, perfect competition occurs when all firms sell identical products, market shares do not affect price, firms can enter or exit without barriers.
What is a competitor's product?
Examples of competing products include footwear, apparel, and home goods. When you go to a store to buy standard products, you are buying competitor products. Competitor products are goods and services that your target market may prefer over yours. Physical goods like clothing and toys are examples of competing items. Competition is defined as a situation where you can win or have a strong desire to win or be the best.
An example of competition is the process by which major league baseball teams compete against each other. An example of a competition is a student who wants to be first in their class.
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