The rent that the manager should charge to maximize revenue will be $2,000.
In business, a rent is known as the cost incurred by a business to utilize a property or location for an office, retail space, factory, or storage space.
Initially, to find revenue by coming up we can calculate with an equation below:
Revenue = Price × Revenue
Where, price = 1000 + 20x
Quantity = 150 - x
R(x) = (1000+20x) (150-x)
R(x) = 150000 - 1000x + 3000x - 20x²
R(x) = - 20x² + 2000x + 150000
To maximize the revenue, we calculate the derivative and set it to zero:
R(x) = - 20x² + 2000x + 150000
R(x) = -40x + 2000
-40x + 2000 = 0
40x = 2000
x = 50
After we find the amount of X, thus we determine the rent that the manager should charge to maximize revenue
Price=$1000+20x
Price=$1000+20(50)
Price=$1,000 + 1,000
Price = $2,000
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a local business group stages a series of protests against the proposed city tax on soft drinks. soon, local media are covering the protests. the local business group is an example of:
The local business group is an example of an interest aggregation. According to Almond, Powell, Dalton, and Strom, interest aggregation is the process through which the political demands of many groups and individuals are merged into policy plans.
Special interest groups known as "business interest groups" represent the interests of businesses or entire industries through associations and organisations. The National Association of Home Builders, the U.S. Chamber of Commerce, and the Better Business Bureau are a few examples (NAHB). A group of individuals without any other relationship to one another who just happen to be in the same area at the same time is known as an interest aggregation.
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pogrund vacation properties sells real estate in florida. pogrund requires potential buyers who are interested in a property to remit a $10,000 deposit to show good faith before receiving detailed information about a property. the deposit is fully refundable until a contract is signed. when a contract is signed, the buyer must make an additional deposit to bring the total deposit up to 10% of the purchase price. at that point, the entire deposit becomes nonrefundable. on december 31, 20x1, david corporation makes a good faith deposit of $10,000. david makes an additional $85,000 deposit on march 31, 20x2, when it signs a contract to purchase property from pogrund for $950,000, bringing its total deposit up to 10% of the purchase price. on june 30, 20x2, david corporation informs pogrund that it has decided to terminate the contract, as is its right, and will not complete the purchase of the property. under the terms of the contract, the entire deposit was nonrefundable and is retained by pogrund. required: what is the journal entry pogrund makes to record the receipt of the $10,000 good faith deposit on december 31, 20x1? what is the journal entry pogrund makes on march 31, 20x2, to record the receipt of an additional $85,000 from david corporation when it signs the contract? what is the journal entry pogrund makes on june 30, 20x2, when david notifies pogrund that it is terminating the contract?
The journal entry pogrund makes on June 30, 20x2 when David notifies pogrund that it is terminating the contract are:
Date Particulars Debit Credit
31-Dec-19 Cash 10,000.00
Deposit account 10,000.00
31-Mar-20 Cash 85,000.00
Deposit account 85,000.00
30-Jun-20 Deposit account 95,000.00
Profit and loss account 95,000.00
An agreement is a legally binding agreement between or more parties. As soon as signed, this contractual agreement creates a promise that sure rights and responsibilities can be fulfilled by way of every celebration. In essence, a promise is at the heart of every contract.
A well-drafted, written contract provides facts, and clarity, and protects parties' pastimes if problems get up down the road. The specifics of what the agreement covers can be identified (for instance through a scope of offerings clause or agenda of products), and each party's obligations and rights are expressly stated.
A successful settlement is defined as a contract that: gives you exceptional possible services at the most affordable price. Provides a means to manipulate the scope of offerings. Manages your commercial enterprise's operational and monetary dangers.
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on the spreadsheet report, in the column for total fat (fat), you can see that brown rice (a whole grain) contains slightly more fat than white rice (a refined grain). what part of the rice grain accounts for this difference in fat content?
Brown rice has more calories than white rice.
What is Brown rice?Brown rice is whole grain rice that has had its inedible hull removed. This type of rice sheds the husk or husk, but leaves behind the bran and germ layers that form the brown rice or tan color of the rice. White rice is the same grain without the chaff, bran layer and germ. Red rice, golden rice, and black rice (also called purple rice) are all whole grain rice with outer layers of different pigments.In general, brown rice should be cooked longer than white rice, unless it is crushed or dusted with flour (pierce the bran without removing it). A 2003 study by Gujral and Kumar estimated the cooking time to be 35-51 minutes. Brown rice has a shelf life of about six months, but can be significantly extended by storing in an airtight container, refrigerating, or freezing. Freezing it regularly also helps keep Indian flour moth infestations under control.To learn more about Brown rice from the given link :
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which three activities are part of the function of accounting? multiple select question. interpreting financial transactions planning financial transactions prioritizing financial transactions recording financial transactions classifying financial transactions
The three activities that are part of the function of accounting from the list of given options are:
2. classifying financial transactions4. interpreting financial transactions5. recording financial transactionsWhat is Accounting?This refers to the term that is used to describe the process of recording financial transactions and also classifying them into proper categories for record purposes.
Hence, it can be seen that from the list of answer choices, when it comes to the area of accounting, three core functions from the list are given above and one of them is classifying financial transactions
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You bought a stock one year ago for per share and sold it today for per share. It paid a per share dividend today. What was your realized return?.
12% was your realized return after bougth a stock for one year ago for $50 per share and sold it today for $55 per share .
In the given question we have , you bought rate a stock 1 year ago for $50 per share
sold rate of stock at today is $55 per share
It paid $1 per share dividend today .
To Compute the realized return and dividend yield on this equity investment we use the below formula
R = (dividend rate per share + sold rate of stock - bought rate of stock )/ bought rate of stock
here R is relaized return
Now, put all the values of given problem in above formula we get,
R = (1+ (55-50))/50 = 0.12 = 12%
So, the relaized return is 12% .
#Complete question:
You bought a stock 1 year ago for $50 per share and sold it today for $55 per share. It paid a $1 per share dividend today.What was your realized return?
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alan, whose wife died in 2019, filed a joint tax return for 2020. he did not remarry and continues to maintain his home in which his four dependent children live. in the preparation of his tax return for 2021, alan should file as:
Alan should set up his tax return for 2021 as a qualified widower.
For two years following the year of your spouse's passing, you can maintain the advantages of the Married Filing Jointly status by filing as a Qualifying Widower. To be eligible to file as a Qualifying Widow or Widower, you must have a dependent child.
Individuals who don't remarry in the year of their spouse's death may file jointly with them. A surviving spouse may be eligible to file as a Qualifying Widower for the two years after the year of death.
For two years after the spouse's death, a widow or widower who has one or more qualifying children may be able to file as a qualifying widower.
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if a firm has a target to break-even and fixed annual costs of $80,000 and a contribution margin ratio of 40%, what are the dollar sales required to break-even?
The amount of revenue needed to break even for a company with $80,000 in fixed annual costs and a 40% contribution margin is $2,00,000.
Describe break-even.One can figure out the break-even point (break-even price) for a transaction or investment by comparing the market value of an asset to its initial cost. When the two prices are equal, you've reached the break-even point. In corporate accounting, the break-even point is determined by dividing the total fixed costs of production by the revenue per unit less the variable costs per unit.
In this context, fixed costs are those expenses that are constant regardless of the number of units sold. In other words, the break-even point is the production level where a product's total revenues and total expenses are equal.
Calculation:
Fixed Cost to Contribution Margin Ratio = BE
[tex]BE=\frac{80,000}{0.40}\\BE=2,00,000[/tex]
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silence can be a sufficient method of acceptance b) if the parties to a contract have habitually used this method to communicate assent. c) when the offeror leaves the jurisdiction after making the offer. d) when the contract is a unilateral contract. a) when the contract is a bilateral contract. e) when the offeree forgot to communicate its acceptance.
Silence can be a sufficient method of acceptance if the parties to a contract have habitually used this method to communicate assent. Hence option B is correct.
At the point when an individual answers to no offer it isn't acknowledged in the majority of the cases. This is valid regardless of whether the proposition says silence will be viewed as acknowledgment. There are, be that as it may, rules for this standard. Assuming the connection between the gatherings is with the end goal that it isn't normal that the offeree to answer, silence by the offeree may constitute acceptance. Another special case would be where the offeree promptly comprehends that silence or an inability to answer implies acknowledgment of the deal. This by and large just emerges in circumstances where the offeror and offeree have a past filled with earlier dealings.
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a company's inventory records indicate the following data for the month of april if the company uses the first in first out method and the perpetual inventory system what would be the cost of the ending inventory
The first-in, first-out method of inventory valuation is referred to as the FIFO method. It is assumed that the first items purchased will be sold in this manner. It is the most widely accepted and one of the easiest methods to comprehend.
Which is superior, LIFO or FIFO?
Inventory management using the FIFO (first in, first out) method aims to value inventory so that the company is less likely to lose money when products expire or become obsolete. Non-perishable goods benefit more from LIFO (last in, first out) inventory management, which uses current prices to determine the cost of goods sold.
What is FIFO technique recipe?
The cost of your oldest inventory is multiplied by the amount of inventory sold to calculate FIFO (First-In, First Out), whereas the cost of your most recent inventory is multiplied by the amount of inventory sold to calculate LIFO (Last-in, First-Out).
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jax recording studio purchased $6,000 in electronic components from music world. jax signed a 60-day, 12% promissory note for $6,000. music world's journal entry to record the sales transaction is:
The Journal entry will be Credit Interest Revenue for $118.35. Credit Notes Receivable for $6,000 , Debit to Cash for $6,118.35.
How to calculate Interest ?Interest is the payment of a sum over and above the principal amount owed by a lender or depositor to a borrower or deposit-taking financial institution at a set rate. It is not the same as a fee that the borrower might pay to the lender or another party.
In contrast to profit, which is received by the owner of an asset, investment, or business, interest is paid to the lender.
The amount of interest paid or received over a specific period divided by the principal borrowed or lent determines the rate of interest.
Purchased amount of electronic components = $6,000
Interest rate = 12 %
Number of days = 60 days
The interest amount = P x R x T.
Where, P = Principal amount
R = Interest rate
T = Number of time periods
Interest = 6000 * 0.12 * 60/365
Interest = $118.35
Debit to Cash = $6,118.35 ( 6000 + 118.35)
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capacity to contract means a party is b) competent to enter into a legally binding contract. a) able to make an offer or accept an offer. e) able to comprehend the terms of a contract. d) able to make a promise. c) able to pay damages in the event of a breach of contract.
Capacity to contract means a party is competent to enter into a legally binding contract.
Those who are intellectually and legally capable of signing contracts that are enforceable by law are referred to as competent parties. Some people, like children, those who are intoxicated or on other drugs, and those who are mentally ill but not mad, have a limited capacity to contract. Persons with limited capacity to contract who are incompetent may renege on their agreements.
Disaffirmance is the name for this legal right to withdraw. Others lack any legal competence to contract since they are so totally incompetent. This group includes those with mental diseases who have been adjudicated crazy by a court.
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what type of promotional strategy promotes to the consumer? question 8 options: a) pull strategy b) aida strategy c) push strategy d) market strategy
There are several types of promotional strategies that can be used to promote to the consumer. A pull strategy is one where the company uses advertising and other marketing techniques to create demand for the product.
This can be done through using celebrity endorsements, creating a need for the product, and using other techniques to generate interest. AIDA is a strategy that focuses on creating awareness, interest, desire, and action in the consumer. This is done through using various marketing techniques to create an emotional connection with the consumer and get them to take action.
A push strategy is one where the company uses its sales force and distributors to promote the product to retailers. This can be done through providing incentives, training, and support to the sales force and distributors. Market strategy is one where the company uses market research to identify opportunities and target consumers. This can be done through segmenting the market, targeting specific consumer groups, and using marketing mix modelling to optimise the marketing mix.
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a benefit derived from the creation of an information system that can be measured in dollars and with certainty is a(n):
A benefit derived from the creation of an information system that can be measured in dollars and with certainty is a tangible benefit. A gain that results from the development of an information system that is certain and quantifiable in terms of money.
Reduced personnel costs, lower transaction costs, or improved business margins are some examples of tangible benefits. information system is simple to quantify all concrete advantages. Both concrete and intangible advantages exist. Cash flow, cash income, and cost reduction would be considered the common tangible benefits. The tangible benefits, which include the performance, profitability, and quality of the derived products, are directly measurable.
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a construction contractor finished a bridge across a river 12 months early and received more than $5 million for the early completion. this is an example of reducing project duration caused by
The reduced project duration is caused by incentive contracts.
Because in project management a contract is said to be incentive based when the owner has committed to making additional compensation to the contract price. This happens when during the contractor's execution, events trigger a higher compensation, which could be a result of cost and time thus, incentive contracts offer a method for adjusting the contractor's profit and establishing the final contract price based on the relationship of the final negotiated total cost to total target cost.
The example in the question shows an incentive contract because a building contractor completed a bridge over a river 12 months earlier than expected and was compensated with more than $5 million. As the project was completed earlier than the due date, thus incentive will be born by the contractor.
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lance paid $21,000 for seven acres of land six years ago. during the current year, lance donated the land which now has a fair market value of $30,000 to his church. lance will
Lance will be able to deduct $30,000 as a charitable contribution.
The criminal definition of a charitable enterprise (and of charity) varies among international locations and in a few instances regions of the united states of America. The regulation, the tax remedy, and the manner in which charity law affects charitable corporations additionally vary. Charitable businesses might not use any in their funds to income men or woman folks or entities.[2] (but, some charitable organizations have come under scrutiny for spending a disproportionate amount of their income to pay the salaries of their leadership). A charitable organization [1] or charity is an organization whose primary targets are philanthropy and social well-being (e.G. Academic, spiritual or other sports serving the general public interest or not unusual true).
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in a natural monopoly, a. the marginal revenue curve is horizontal. b. society would be better off if antitrust laws were used to create many different firms in the market. c. if the government requires marginal cost pricing, it will likely have to subsidize the firm. d. the marginal cost curve is positively sloped
In a natural monopoly, if the government requires marginal cost pricing, it will likely have to subsidize the firm.
In microeconomics, two types of costs are important: marginal costs and fixed costs. The marginal cost is the cost of serving one more customer to the company. The marginal cost decreases with economies of scale in an industry where a natural monopoly does not exist, which is the vast majority of industries, and then increases as the company experiences growing pains (overworking its employees, bureaucracy, inefficiencies, etc.).
The cost structure of a natural monopoly is very different. A natural monopoly has a high fixed cost for a non-dependent product, but its marginal cost of producing one more good is roughly constant and small.
Natural monopolies are believed to exist for two reasons: economies of scale and economies of scope.
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do you have a non-compete agreement or a non-disclosure agreement with your present or prior employer?
When an employee works for a company, a non-compete or non disclosure agreement is only used to stipulate who may hire them after they depart.
What is non-compete or non disclosure agreement?
Both non-disclosure and non-compete agreements are regarded as legal documents that impose restrictions on what a person may say or do in specific circumstances. Restrictive covenants are meant to stop a worker or other corporate affiliate from disclosing specific company information to rival businesses or from quitting the company and starting a business that competes directly with it.
These limitations are required to prevent a corporation from suffering financial loss if one of its workers uses confidential information gained from the company to compete against it or help its rivals. Restrictive covenants can generally be divided into two categories, and it's critical to recognise the differences between them.
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which of the following accounts are temporary accounts closed (zeroed out) at the end of the accounting period into retained earnings? (check all that apply.) multiple select question. accounts receivable bad debt expense depreciation expense allowance for doubtful accounts sales revenue accumulated depreciation
Depreciation expense must be closed to retained earnings at the end of the period because it is a nominal account.
What is an allowance for uncertain costs?Because it lowers the value of an asset—in this case, the accounts receivable—the allowance for dubious accounts is referred to as a "contra asset." The allowance, also known as a bad debt reserve, is management's projection of the amount of accounts receivable that customers will not pay. You may manage your company's cash flow with the aid of an income account and an expense account. All of your company's expenses are kept in an account called an allowance or expense account. Understanding this account is essential since it enables you to keep tabs
Permanent accounts are an alternative - The balances at year-end are carried forward with the associated asset in accumulated depreciation, which is a counter asset account of a specific depreciable asset. Accounts payable must be carried forward in the following accounting period because it is a genuine account. As current assets, prepaid expenses must be carried forward to the following accounting period.
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Answer:
sales revenue
Explanation:
a game in which each player has a dominant strategy, and when each plays it, the resulting payoffs are smaller than if each had played a dominated strategy is called a(n) .
A game in which each player has a dominant strategy, and when each plays it, the resulting payoffs are smaller than if each had played a dominated strategy is called a. prisoner's dilemma.
A prisoner's dilemma is a scenario in which individual decision-makers have an incentive to make choices that result in a suboptimal outcome for the individuals as a group. Many elements of the economy are affected by the prisoner's dilemma.
A prisoner's dilemma is a circumstance in which two selfish actors, according to game theory, would ultimately result in a poor option for both. The prisoner's dilemma further demonstrates that simple collaboration is not always advantageous.
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vector technology's employees are enjoying the internet in the office a bit too much. the company has been suffering a loss in productivity the past year and has determined it to be related to cyber-loafing, which is employee use of work internet access for personal use. the company needs a communication strategy in place that will increase productivity without causing a backlash among employees. the ceo has assembled a task force led by a human resources (hr) manager and comprised of a marketing and finance manager. you are the hr manager. can you balance the company and employees' interests using the right communications methods?
To manage cyber-loafing in the workplace:
Provide designated break times for employees to cyberloaf to channel it to noncritical time periodsMonitoring what your employees are doing on the computer and restricting their internet accessUsing a time tracking app that allows you to monitor the websites and apps your employees visit. You will see which activities consume the most of an employee's time.Cyberslacking, also known as cyberloafing, is the state of being distracted by technology at work. This activity is entirely related to non-work-related or personal internet usage.
When working on a computer, an employee may spend their time playing games, shopping online, or using social media sites.
It's important to remember that cyber-loafing is more than just a lack of productivity. Workers may visit shady websites or download illegal music, infecting the company's network with Trojans.
Even if you allow your employees to take short breaks, you should still implement some cyber-loafing prevention measures.
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jane makes 1000 items a day. each day she spends 8 hours producing those items. if hired elsewhere she could have earned $250 an hour. the item sells for $15 each. production occurs seven days a week. if the explicit costs total $150,000 per month, what is her accounting profit?
If the explicit costs total $150,000 per month, the accounting profit is $300,000
Revenue equals 1000 items per day $15/item30days = $450,000.
Explicit costs are given as $150,000.
Therefore, accounting profit = $450,000-$150,000 = $300,000
What is Revenue?Yield is a term used to describe the profits made and realised on an investment over a specific time frame. Based on the amount invested, the security's current market value, or its face value, it is expressed as a percentage. Yield is made up of the interest or dividends that come with holding a specific security.
Revenue is the total amount of money made from the sale of products or services related to a business's core operations. Because it appears at the top of the income statement, revenue, also known as gross sales, is frequently called the "top line."
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the opportunity cost of holding money part 2 a. is the forgone interest from holding bonds. b. decreases with inflation. c. increases as the holding return on bonds fall. d. decreases as one accumulates more of it.
The opportunity cost of holding money is the interest forgone on an alternative asset.
What is an asset?
According to financial accounting, an asset is any resource that a company or other economic organization owns or controls. It is anything that has the potential to provide positive economic value. The ownership value represented by assets can be converted into cash.
An item with economic value to the business, either now or in the future, is referred to as an asset. In essence, a business's assets are anything it owns or controls that is valuable today or has the potential to be profitable in the future. Examples include investments, machines, and patents.
The regular distribution of an asset's depreciable amount over the course of its useful life is known as depreciation. The depreciable amount of an asset is equal to the asset's cost or another number substituted for cost, less its residual value.
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stone and brick are substitutes in home construction. suppose the price of stone increases due to new regulations for the stone quarrying industry. describe the impact this will have on the market for bricks.
suppose that a country's population is 27 million and is currently growing at a rate of 11% per year. if the population growth follows a logistic growth model with a carrying capacity of 63 million, calculate the annual growth rate when the population is 18 million.
Answer:
someone
Explanation:
Someone will answer you shortly.
derek receives a promotion at his law firm after winning an important case. this is an example of a:
When Derek receives a promotion at his law after winning an important case : This is an example of Positive formal sanction.
What do you mean by Positive formal sanction?
Positive sanctions can be defined as the rewards which are given for conforming to norms. For example a promotion at work is a positive sanction for working hard. They are quite important in social control. Other examples of positive formal sanction include Graduation certificates, pay raises, promotions, awards, and medals.
Sanctions are used to enforce compliance with social norms. Sanctions are positive when they are used to celebrate conformity.
Types of Sanction includes
formal sanctions.informal sanctions.negative sanctions.positive sanctions.Hence, the above-mentioned case represents Positive formal sanction.
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the pattern of protection in industrial countries is particularly harmful to the interests of a) low-income developing countries. b) high-income industrial countries. c) asian nations. d) european nations.
The pattern of protection in industrial nations is especially detrimental to the interests of developing nations with low incomes. Hence, the correct answer choice for this question will be option (a).
Write a brief account on developing countries.A sovereign state that is considered to be developing has a less developed industrial base and a lower Human Development Index (HDI) than other nations. This term is not generally accepted, though. Although the phrase "low and middle-income country" (LMIC) is sometimes used synonymously, it only relates to the economies of the nations. Subgroups of developing countries include small island developing states, landlocked developing states, and least developed countries. The term "high-income countries" or "developed countries" is typically used to describe those at the other end of the range.
Due to their histories or geographical locations, developing nations frequently share some traits. For instance, in terms of colonialism and health risks, higher levels of pollution, they frequently have: lower access to clean water, sanitation, and hygiene; a higher proportion of people with tropical and infectious diseases (neglected tropical diseases); a higher number of road traffic accidents; and generally lower quality infrastructure
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if the unemployment rate goes down selected answer will be automatically saved. for keyboard navigation, press up/down arrow keys to select an answer. a it could be bad news for the economy. b it could never be bad news for the economy. c the number of unemployed workers would have fallen which is good news. d the size of the labor force had to have gone up.
If the unemployment rate goes down selected answer will be automatically saved. for keyboard navigation, pressing the up/down arrow keys to it could never be bad news for the economy.
The unemployment rate is the percentage of the labor force that is unemployed. Therefore, to measure the unemployment rate, we need to identify the labor force. The workforce includes both employed and unemployed people.
The unemployment rate is the number of unemployed people as a percentage of the labor force (the labor force is the sum of the employed and the unemployed). The unemployment rate is calculated as: (unemployed ÷ labor force) x 100.
The unemployment rate for any region is the number of job seekers in that region divided by the total number of employed residents in that region.
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cherry company manufactures electronic yard tools. costs for may were direct labor, $84,000; indirect labor, $51,000; direct materials, $69,000; indirect materials, $9,000; factory utilities, $6,900; and insurance on manufacturing equipment, $2,100. cherry company's manufacturing overhead for may is:
The manufacturing overhead for may is $222,000
Manufacturing overhead costs are the initial charges that a corporation incurs for things like the purchase of materials and indirect labelling. electricity, machinery, maintenance, factory supplies, insurance, etc.
This is often referred to as factory overhead, and it refers to costs that are further recorded in the balance sheet or in the profit and loss statement and divided by the firm's profit even if they have no direct bearing on manufacturing.
Manufacturing Overhead allocated during the year = Direct Labor + Indirect Labor + Direct Materials + Indirect Materials + Factory Utilities + Insurance
= 84,000 + 51,000 + 69,000 + 9,000 + 6,900 + 2,100
= 222,000
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which statement is a correct assessment about the whigs? group of answer choices their programs connected best with voters in isolated rural areas. they hoped to derail the market economy. they argued that the role of government was to promote the welfare of its people. the whig leadership criticized the american system.
They argued that the role of government was to promote the welfare of its people is the correct assessment about the Whigs.
The Whigs were a political party in the United Kingdom that rose to prominence in the early 19th century. The Whigs advocated for the reform of the British government and were opposed to the policies of the Tory party.
The Whigs were led by prominent figures such as Charles James Fox and Edmund Burke. The party's name derived from the fact that they were originally a group of English country gentlemen who opposed the absolute rule of the king.
Hence, the "second" option is correct.
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is the practice of obtaining needed services, ideas, or content by soliciting contributions from a large group of people and especially from the online community rather than from traditional employees or suppliers. a. digital native b. reputation economy c. perpetual beta d. network effect e. crowdsourcing
Through crowdsourcing, a sizable group of dispersed participants produce or provide goods or services, such as ideas, votes, minor tasks, and money, for pay or as volunteers.
What kind of example is crowdsourcing?While some crowdsourcing participants occasionally work as paid freelancers, others complete simple chores for free. For example, traffic apps like Waze encourage users to independently report accidents on the road so that users can obtain real-time, updated information. The practice of asking a lot of people for the necessary data, products, or services is known as crowdsourcing. In his article "The Rise of Crowdsourcing" from Wired magazine in 2006, author Jeff Howe introduced the word "crowdsourcing," which combines crowds and outsourcing. Crowdsourcing is a method of obtaining products, ideas, or material with the help of numerous participants. In crowdsourcing, the "crowd" is frequently an outsider looking for answers. ts.
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