When an individual weighs her options and makes a choice that maximizes her benefit at the minimum cost, economists refer to this as a process of

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Answer 1
When an individual weighs her options and makes a choice that maximizes her benefit at the minimum cost, economists refer to this as a process of... rational decision making. You just studied 8 terms!

Related Questions

Lighting equipment listed for horticultural use and connected with flexible cord shall have outlets that are _______.

Answers

There are ground fault circuit interrupted outlet for Lighting equipment listed for horticultural use.

What is ground fault circuit interrupter?

A ground fault circuit interrupter  serves as one that help prevent electrocution.

The Lighting equipment when connected with ground fault circuit interrupter makes the working environment a safe one. GFCIs are generally installed where electrical circuits may accidentally come into contact with water.

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Firms focusing on operating a cost-leadership strategy are most likely to develop their product or service to emphasize the.

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Firms focusing on operating a cost-leadership strategy are most likely to develop their product or service to emphasize the functional aspects.

What is strategic management?

Strategic management can be defined as the plan in motion to implement the aims and objective of an organization.

Here, strategic management is important because it makes the necessary plans and policies by making sure that the vision statement of the company is achieved.

Hence, Firms focusing on operating a cost-leadership strategy are most likely to develop their product or service to emphasize the functional aspects.

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Paris Perfumes has provided the following data for the previous year: Units sold during the previous year 25,000 units Selling price per unit $75 Direct materials per unit $35 Direct manufacturing labor per unit $10 Variable manufacturing overhead per unit $5 Fixed manufacturing costs $250,000 Budgeted production at the beginning of the year 27,000 units Variable marketing cost per unit $3 Fixed marketing cost $30,000 Number of units in opening inventory 0 Number of units in ending inventory 2,000 units What was the throughput margin for the previous year for Paris Perfumes

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The throughput margin for the previous year for Paris Perfumes is $550,000.

What is the throughput margin?

The throughput margin is the same as the contribution margin.

The throughput margin calculates the profits obtained across the production cycle, focusing on variable costs and sales revenue.

Data and Calculations:

Units sold = 25,000 units

Selling price per unit = $75

Direct materials per unit = $35

Direct labor per unit = $10

Variable manufacturing overhead = $5

Variable marketing cost per unit = $3

Total variable costs per unit = $53

Fixed manufacturing costs = $250,000

Fixed marketing cost = $30,000

Total fixed costs = $280,000

Budgeted production units = 27,000

Ending inventory = 2,000

Throughput margin per unit = $22 ($75 - $53)

Throughput margin for the previous year = $550,000 ($22 x 27,000 - 2,000)

Thus, the throughput margin for the previous year for Paris Perfumes is $550,000.

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Anyone who wants to use copyright material must obtain permission from the copyright owner in the form of a ____.

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Answer:

license

Explanation:

While Rebekah was shopping at Target, she noticed a Starbucks near the entrance, which prompted her to stop for coffee. This is an example of a

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An example of store within a store is the setting that allowed Rebeekah to notice the Starbucks near the entrance at Target and prompted her to stop for coffee.

What is store within a store?

This an agreement where the retailer rents a part of the retail space to be used by a different company to run another shop.

In coinclusion, the agreement makes Rebecca be able to see the Starbuck store while shopping at Target.

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Any person or entity who knows, or should have known, of the presentation of a false or fraudulent claim to the government for payment or approval is subject to.

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When a person make a fraudulent claim to the government for payment it is called: the False Claims Act.

What is  False Claims Act?

The False Claim Act is law that found a person who intentional makes a false claim against government agency guilty.

This law states that no person should make a false claim as any person or individual who makes a fraudulent claim so as to defraud the government  or present a false claim will be subjected by the court of law if found guilty.

 

Inconclusion fraudulent claim to the government for payment or approval is subject to: the False Claims Act.

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At Just In Time Logistics, managers and workers share responsibilities, managers stress employee participation in all aspects of company decision making, and employment is long-term. What theory of management does Just In Time Logistics follow

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Just In Time Logistics managers and workers share responsibilities, this follows Theory Z management

What is Theory Z?

Theory Z is a management theory based on the combination of American and Japanese management philosophies.

Theory Z involves  managers and workers share responsibilities, managers stress employee participation in all aspects of company decision making, and employment is long-term.

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What is the best hira methods to use for a complex process design during the operation phase of the process life cycle

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HAZOP is the best Hira method to be use for a complex design during a phase operation.

What is HIRA?

Hazard identification and risk analysis entails all all activities that are carry out to dentify hazards and evaluating risk at facilities all through their life cycle and the method use to control them.

What is HAZOP

Hazard and Operability Study (HAZOP) is

a technique use identify hazards and operating problems by employing the usage of guide words to study process deviations. A HAZOP is used to question all aspect of a process to discover what deviations from the intention of the design happened and what could be it's causes and consequences as well.

Therefore, HAZOP is the best Hira method to be use for a complex design during a phase operation.

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Syncadia Inc. believes in focusing on hiring the best talent rather than hoping to develop mediocre talent over time. It can be said that Syncadia's talent management strategy invests more in employee selection than in _____. a. employee outsourcing b. employee training c. employee compliance d. employee absenteeism

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Syncadia's talent management strategy invests more in employee selection than in  employee training.

What is Employee Selection and Training?

Employee Selection is the process whereby Organisations recruit individuals with the desired skills and qualifications for a particular Job role.

Employee training is a process whereby organisation recruit individuals with the plan to teach the specific knowledge or skills in order for them to be able to perform their current roles.

Because Employee training is expensive and focuses on employee  future performance,many organisation recently would  rather opt for the right person that matches the required job role.

Hence,  we can conclude that Syncadia's talent management strategy invests more in employee selection than in employee training.

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Pauline sits near the snacks in the office. There are 555 flavors of chocolate, and she wonders if some flavors get chosen more than others. She plans to record how often each flavor gets chosen in a sample of selections to carry out a \chi^2χ 2 \chi, squared goodness-of-fit test on the resulting data

Answers

The  conditions for carrying out this test are:

She takes a random sample of selections.A She observes each snack being selected at least 5 times.

What does goodness of fit test implies?

Goodness-of-fit tests is known tp be a test that helps one to know how well sample data is said to  fit what is expected of a specific population.

From any sample data, an observed value is said to be gathered and then they are compared to the calculated expected value.

The Chi-square goodness of fit test is known to be a statistical hypothesis test that is used to know if a variable is likely to come from a specified distribution or not.

See options below

Which of these are conditions for carrying out this test? Choose 2 answers:

A She observes each snack being selected at least 5 times.

B She expects each snack to be selected at least 5 times.

с She takes a random sample of selections.

D She samples at least 30 selections.

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In almost all present and future value computations, it is implicity assumed that the cash flows occur at the beginning of each period. A) True B) False

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In present and future value computations, it is not true that cashflows are implicitly assumed to occur at the beginning of the period so this statement is False.

Why is this statement false?

The usual convention for present and future value calculations is that if the period of cashflows is not given, it is assumed that the cashflow occurs at the end of the period.

A special formula exists when the cashflows occur at the beginning of the period instead.

In conclusion, this is false.

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Client 3
I am 35 years old and have been running three successful bookstores for five years. My customers think I have the right mix of books to appeal to younger and older readers. My “coffee-house nights” which feature local authors reading passages of their books to espresso-drinking customers have been a big hit. I am thinking about expanding to eight stores. I have identified the new locations. They seem just right. My two biggest problems are that I do not have enough money to support this expansion and I am not sure I have the skill to manage all eight locations.

What type of business organization do you recommend? Why?

This is for my Business class help!!

Answers

Answer:

Well, first you must have the savings for this project. Since your expanding to eight locations, I suggest you hire some employees so they can help run the other locations. I'd hold off on the expansion until you've got the correct amount of savings, that way if there are any issues in the expansion project, you'll easily be able to cover it.

Explanation:

I know a bit about business, but I'm still learning. I think this might help, I'm not sure. I think you can do a combination of coffee & books.

Which of the following are the ways computers are used in Business & Society? Question 1 options: A bank might need a computer to check how much you have in your savings account A cake store might need a computer to save the images of the exact birthday cake design you like. A doctor might use a computer to pull up images of a patient's injury to help plan the surgery. All the above

Answers

The ways that computers are used in Business & Society is All of the above.

What is a computer?

It should be noted that a computer simply means a electronic machine that's used to make one's work easier and faster.

In this case, a bank might need a computer to check how much you have in your savings account and a cake store might need a computer to save the images of the exact birthday cake design you like.

Therefore, the correct option is all of the above.

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In addition to factors associated with pricing calculations, entrepreneurs must also consider their______.

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In addition to factors associated with pricing calculations, entrepreneurs must also consider their revenue.

What is revenue?

Revenue is the total income that a particular individual or organization generated through the sales of a particular goods and services.

For a business to be viable the revenue should be considered.

Therefore,In addition to factors associated with pricing calculations, entrepreneurs must also consider their revenue.

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Lionel works for a company that is trying to reduce travel time for their employees and allow more people to work from home. What kind of cloud service can Lionel use to attend meetings with his remote coworkers?
A. Desktop as a Service.
B. Video conferencing application.
C. Cloud storage.
D. Cloud-hosted training modules.

Answers

The kind of cloud service that would help Lionel attend meetings with remote coworkers is a B. Video conferencing application.

What is a Video conferencing application?

It is an application that allows for different people in various locations to have a video call with each other at the same time.

Lionel can use this app to talk to remote coworkers in various locations provided that they have an internet connection.

In conclusion, option B is correct.

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Genna and four others are establishing a business to create monogrammed items of personal clothing to sell to the general public. Genna is concerned about entering into business with others and possibly being liable for their actions, so she convinces the others that they should incorporate. After doing some basic research on how to incorporate a business, Genna starts preparing the articles of incorporation. At a minimum, Genna must make sure that the articles of incorporation include:

A. the name of the corporation and the name and address of each incorporator.

B. the name of the corporation, the number of shares of stock the corporation is authorized to issue, the name and street address of the initial registered agent of the corporation and his or her registered office, and the name and address of each incorporator.

C. the name of the corporation, the name and street address of the initial registered agent of the corporation and his or her registered office, and the name and address of each incorporator.

D. the name of the corporation, the number of shares of stock the corporation is authorized to issue, and the name and address of each incorporator.

Kelly lives in Arkansas and works in the data division of Acxiom Corporation. Acxiom has its headquarters in Conway, Arkansas. Acxiom is incorporated in Delaware, however, because of the corporate-friendly laws in that state. Kelly works in a(n):

A. domestic corporation, because Acxiom’s headquarters is in the same state where Kelly works.

B. alien corporation because Acxiom is incorporated in a different state than the division where Kelly works.

C. foreign corporation because Acxiom is incorporated in a different state than the division where Kelly works.

D. close corporation because Kelly works in a division of Acxiom located close to where she lives.

Answers

At a minimum, Genna must make sure that the articles of incorporation include:

C. the name of the corporation, the number of shares of stock the corporation is authorized to issue, the name and street address of the initial registered agent of the corporation and his or her registered office, and the name and address of each incorporator.

Kelly works in a(n):

C. foreign corporation because Acxiom is incorporated in a different state than the division where Kelly works.

What is a Corporation?

This refers to a legal entity that is authorised to act as a single entity even though it might  have many owners for a particular purpose.

Therefore, we can note that Kelly works in a foreign corporation as it cannot be considered an alien corporation because it is in a different state.

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What are possible red flags or signs of a scam when buying a car?.

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The price is below market value: If the price of a used vehicle seems too good to be true Fake escrow services: Though escrow services are a legitimate way to protect your money, fraudsters may attempt to trick you into using a fake escrow service.

______ allows employees to move from one job to another in an effort to relieve the boredom that is often associated with job specialization.
a) Job sharing
b) Job enlargement
c) Job rotation

Answers

Answer:

c) job rotation

Explanation:

Using resources to maximize health benefits while simultaneously using resources to maximize cost-effectiveness is: Question 17 options: a) priority nursing management. b) fiscal responsibility. c) costing out nursing services. d) capital constraint.

Answers

Using resources to maximize health benefits while simultaneously using resources to maximize cost-effectiveness is a) priority nursing management.

What is priority nursing management?

Priority nursing management dwells on the impact of nursing care on the quality of care provided to patients.

Nursing management requires prioritizing:

TeamworkAccountability and cost-effectivenessGood communication.

Thus, maximizing health benefits to patients while maximizing cost-effectiveness is a priority in nursing management.

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What is a handout? When would it be useful to use a handout?.

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Answer:

A handout is a written aid you provide to the audience. It would be helpful to use a handout if your speech contains detailed information that the audience may not remember without a tangible reminder. It may also be useful to use a handout for "how-to" speeches, to outline the step-by-step instructions.

Explanation:

Answer:

Handouts are printed materials that can be distributed to the audience. It would be best to use these when you have a very details speech, they won't remember every word, so you could have it written down so when they want, they can check it out later on after the speech.

Explanation

Good Luck :)

To estimate what the profit will be at various levels of sales volume, multiply the number of units to be sold above or below the break-even point by the unit contribution margin. Group startsTrue or False

Answers

In order to estimate the profit that will be at various levels of sales, multiply the number of units to be sold above or below the break-even point by the unit contribution margin. The statement is false.

What is profit?

Profit is total revenue less total cost. Breakeven point is the number of units produced and sold at which net income would be zero. Above the breakeven point, there would be profit and below this point, there would be losses.

The contribution margin is the price per unit less the variable cost per unit. Contribution margin doesn't account for fixed cost which must be used to determine profit.

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Your school is having a book fair! books cost $5. 50 and magazines cost $3. Genesis bought a total of 7 items and spent a total of $28. 50 at the fair. How many books and how many magazines did she buy?

Answers

Let us set up some variables:

  b: # of books

  m: # of magazines

Let us set up some equations based on the known facts:

Genesis bought a total of seven books --> b + m = 7Genesis spent a total of $28.50 --> 5.5b + 3m = 28.5

Equations:

b + m = 7 -- equation 15.5b + 3m = 28.5 -- equation 2

Start Solving:

   (Equation 1) * 3

    3b + 3m = 21 -- equation 3

   (Equation 2) - (Equation 3)

    2.5b = 7.5

    b = 3 -- equation 4

   (Equation 4) plug into (Equation 1)

  3 + m = 7

   m = 4

Solutions: Genesis bought 3 books and 4 magazines

Hope that helps!

When planning for inventory, a company's goal is to have?

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Answer:

The primary objective of inventory planning is to satisfy the needs of company customers. Whether the customer is a direct consumer, a distributor or another department within the company, inventory management should provide the best-quality service.

_______ is(are) the total compensation an employee earns including wages, salaries, commissions, bonuses, and any compensation earned before deductions such as taxes.

Answers

Renumeration is the total money or compensation an employees earn which include salaries, wages and so on.

What is Renumeration?

Remuneration refer to the total sum of money paid to an employee. It can include a salary or inform of hourly rate, bonuses, commissions, or any form payment. Remuneration is define as the sum total of income and other taxable benefits and allowances.

Therefore, Renumeration is the total money or compensation an employees earn which include salaries, wages and so on.

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________ can be classified according to whether they are delivered by people or equipment, or by business firms or nonprofit organizations. Multiple choice question.

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Services can be classified according to whether they are delivered by people or equipment, or by business firms or nonprofit organizations.

What are services?

Services serves as the task or activities that is been delivered to the client in exchange if rewards.

Services can be different based on the organization performing it such banking sector , and classified according to whether they are delivered by people or equipment, or by business firms.

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The difference between a revenue or cost item in the planning budget and the same item in the flexible budget at the actual level of activity is a(n) ______ variance.

Answers

When there is a difference between an item in the planning budget and the flexible budget, this is an activity variance.

What is an activity variance?

This is when items in the flexible budget and the planning budget are different based on the actual level of activity that the company saw as opposed to the planned level.

As this difference arises because of a difference in activity, it is labeled the activity variance.

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If a beneficiary wants a guarantee that benefits paid from principal and interest would be paid for a period of 10 years before being exhausted, what settlement option should the beneficiary select

Answers

The settlement option that the beneficiary, who wants a guarantee that benefits paid from principal and interest would be paid for a period of 10 years before being exhausted, is C) Fixed Period.

What are settlement options?

Settlement Options are choices of the policy owner when the insured lives to the endowment (maturity) date of the policy.

The settlement options become the choices of the beneficiary of the policy when the insured dies, especially, if the policy owner has not chosen one prior to death.

Answer Options:

A) Fixed Amount

B) Fixed Income

C) Fixed Period

D) Fixed Time

Thus, the settlement option that the beneficiary should select is C. Fixed Period.

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Understanding the _____ context means understanding the impact of elements such as the business environment, the legal/regulatory/compliance environment, as well as the threat environment.

Answers

It should be notrd that Understanding the external business environment means understanding the impact of elements of business.

What is business environment?

This are the factor around the business that can influence the business such as the government policy.

Therefore, legal/regulatory/compliance environment can influence business.

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3. View the sample report by clicking the "Sample Student Report" link and answer the
following questions. (4 points)
I
a. What is the composite ACT score range?
b. What is the composite score on the report shown?

Answers

The range of the Sample Student Report is gotten by subtracting the minimum ACT score from the maximum ACT score.

What is a sample range?

The range of a group of numbers is the difference between the highest and lowest values in a set of numbers. It is given by:

Range = highest number - lowest number

The range of the Sample Student Report is gotten by subtracting the minimum ACT score from the maximum ACT score.

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In The Federalist paper number 10, James Madison expressed concern over the possibility that both majority and minority factions would have too much power over government, and he presented ways of minimizing that danger. The United States Constitution established a democratic government but also contained several provisions that limited majority rule. Throughout the next two centuries, the role of majority rule in the United States government and politics continued to change. Respond to all parts of the question:_______.
(a) Identify the part of the national government that was originally most closely tied to citizens and explain how it was tied to citizens.
(b) Explain two ways the United States Constitution limited majority rule.
(c) Choose two of the following twentieth-century developments and explain how each moved the United States from a less democratic system to a more democratic system. Primary elections The Seventeenth Amendment Expansion of suffrage

Answers

A because it’s considered background info
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