The answer is a normal necessity, a normal luxury, an inferior.
What is a normal necessity?A normal good in economics is referred to as a necessity good or essential good. Consumers will purchase necessities such as goods and services regardless of fluctuations in their income levels, making them less susceptible to changes in income.Normal goods, inferior goods, and Giffen goods are the three categories into which economists divide products.In other words, necessities are those items for which a price increase decreases an agent's marginal utility of income whereas luxuries are those for which a price increase enhances an agent's marginal utility of income.The answer is a normal necessity, a normal luxury; an inferior.
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Prior to the year 2002, standards governing audits were established through the ______.
Prior to the year 2002, standards governing audits were established through the AICPA. The association establishes guidelines for financial statement auditing, private practice, CPA firm quality control, business valuation, financial planning, and professional ethics. An audit can apply to a complete organization or to a specific function, process, or manufacturing step.
An audit's goal is to offer a judgement on whether AICPA or the financial statements are fairly presented in accordance with suitable accounting rules. Bank accounts, management accounts, payrolls, bank statements, invoices, and receipts are all examples of auditing evidence. Auditing evidence should be substantial, reliable, obtained from a reliable source, and relevant to the audit at hand.
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John buys a used car for $5,400 and spends $600 on new parts, made in the u.s., to fix the car. the end result of these two transactions is?
The end result of these two transactions is that U.S. consumption purchases increase by $600 and U.S. GDP increases by $600
Gross domestic product is defined as the sum of final goods and services produced in an economy in a given period. It counts all the output generated within the borders of the country.
GDP is basically the monetary value of final goods and services.
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Net export = exports – imports
When exports exceed import there is a trade deficit and when import exceeds import, there is a trade surplus.
Items that aren’t included in the calculation of GDP includes:
Services not rendered to oneselfActivities not reported to the government Illegal activitiesSale or purchase of used productsSale or purchase of intermediate productsTo know more about GDP, refer : https://brainly.com/question/15682765
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consider the following statements and indicate if each of the statements is normally true or false for wach type of business
The following question has to do with the various exposures to liability of the different types of corporate entities.
What is Corporate Entity?A corporate entity is a business structure formed specifically to carry out activities such as operating a business or holding assets. A corporation is a legal entity in and of itself, even if it is made up of individual directors, officers, and shareholders.
What is limit of liability?A restriction of liability clause is a contract term that restricts a company's risk in the event that a lawsuit is filed or another claim is made. A limitation of liability clause, if deemed to be enforceable, might "cap" the amount of possible damages to which a firm is exposed.
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Full Question:
See the attached image.
consider cases where the number of withholding allowances is less than 6. which will cause the amount of federal income tax withheld to increase?
The amount of federal income tax withheld to increase Gross pay increases by increasing $20 and withholding allowances stay the same.
The extra allowances you declare the tons much less tax will be withheld from each paycheck. the less allowances claimed the bigger the withholding amount which can also bring about reimbursement. To avoid being stuck off protect by using a sudden tax bill or a huge tax refund you could want to alter your withholdings on your paycheck.
The more tax allowances you claim the fewer profits tax can be withheld from a paycheck the less allowances you declare the more tax may be withheld. the fewer allowances you declare the income tax may be withheld out of your paycheck. that would suggest you overpay your taxes at some point of the yr getting smaller paychecks but you may maximum probably get compensation after submitting your tax go back.
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if the beginning capital balance is $3,500, net income is $5,500, and the owner withdrawals $2,400, what is the ending capital balance?
With the beginning capital balance of 3500 and income of 5500 and a withdrawal of 2400 will result in ending capital balance of 6600. (3500+5500-2400=6600)
More about capital balance:
The capital account in accounting depicts the total value of a business at a particular point in time. It appears in the bottom section of the balance sheet and is referred to as founder's equity for a sole proprietorship or stakeholders' equity for a corporation. The term "balance" in bookkeeping refers to the difference between the total number of debit entries and credit entries made into an account during a certain financial period.
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Before the industrial revolution, per capita gdp in nations differed by a factor of:_______-
Before the industrial revolution, per capita GDP in nations differed by a factor of little over time and across countries.
The first three industrial revolutions that had an impact on our contemporary society are listed above. The steam engine, the age of science and mass production, and the rise of digital technology were three innovations that fundamentally altered the world as we knew it.
Agriculture and handicrafts-based economies were replaced by economies based on large-scale industry, mechanized manufacturing, and the factory system during the Industrial Revolution. Existing industries became more productive and efficient as a result of new equipment, power sources, and organizational techniques.
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A business can obtain financing by issuing stock or borrowing from third parties, such as banks. what is the balance sheet effect of issuing stock to obtain cash?
The balance sheet effect of issuing stock to obtain cash is that cash would increase and common stock would also increase
What is the balance sheet of issuing stock for cash?
Issuing stock for cash means that the company is selling its stocks to investors or existing shareholders which necessitates issuing stocks to them to show that are now part owners of the company such that the investors pay cash to the company for the stocks received.
The impact of this transaction on the balance sheet is that cash received from investors would increase the cash balance under the current asset heading of the balance sheet and the common stock account would also rise by the amount of new common stocks issued, in other words, the increase in asset is the same as the increase in stockholder's equity.
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Oxley company has total variable costs of $120,000 if 15,000 units are produced. the relevant range is 10,000 units to 20,000 units. if 20,000 units are produced, variable costs are?
Variable fees are $8 per unit. Variable expenses are expenses that trade as the extent of the exact or carrier that a commercial enterprise produces changes.
Variable costs are the sum of marginal prices over all gadgets produced. They can additionally be regarded everyday costs. Fixed prices and variable prices make up the two factors of whole cost.
What are examples of variables costs?Variable costs are charges that exchange as the volume changes. Examples of variable expenses are raw materials, piece-rate labor, production supplies, commissions, transport costs, packaging supplies, and savings card fees. In some accounting statements, the Variable charges of manufacturing are referred to as the “Cost of Goods Sold.”
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https://brainly.com/question/5965421#SPJ4The standard and poor's 100 index option contract is traded on the? a new york stock exchange b american stock exchange c chicago board options exchange d chicago mercantile exchange
The standard and poor's 100 index option contract is traded on the Chicago Board Options Exchange.
When the VIX is low, look out below!" tells us that the market is on the point of fall which implied volatility goes stock exchange to increase. When implied volatility is predicted to rise, an optimal bearish options strategy is to be delta negative.
Index options are options contracts that utilize a benchmark index, or a derivative instrument stock exchange supporting that index, as its underlying instrument. Index options are typically European style and settle in cash for the worth of the index at expiration. Investors can use numerous strategies with index options.
The simplest strategies involve buying a call or placing it on the index. to form a punt the amount stock exchange of the index growing, an investor buys a call option outright. to form the alternative game the index happening, an investor buys the put option. VIX options are cash settled.
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which one of the following statements about difficulties of cost estimation is true? a. linear relationships between total costs and activity levels may exist b. inflation c. data may not be based on normal operating conditions d. none
the answer for the given question is option c.
The fact that the data may not be based on normal operating conditions complicates cost estimation.
What exactly is cost estimation?
Cost estimation entails making a rough prediction about future costs.
In this question, we must identify the statement that causes problems with cost estimation. The (c) in the given statement makes cost estimation difficult. Because it is necessary to have data based on normal operating conditions in order to estimate costs.
Option (a) is incorrect because it makes cost estimation difficult.
Option (b) is incorrect because it makes cost estimation difficult.
Option (d) is incorrect because it makes cost estimation difficult.
Therefore, the correct answer to this question is option (c)
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Why did mama move family to terminal island? what values/beliefs shaped her decision?
To keep the family together, Mama went to Terminal Island. She thought it would also be safer there than being ethnically segregated in Ocean Park.
The majority-artificial island of Terminal Island, formerly known as Isla Raza de Buena Gente, is situated in Los Angeles County, California, between the Los Angeles communities of Wilmington and San Pedro and the city of Long Beach. The Ports of Los Angeles and Long Beach are roughly divided by Terminal Island. Except for the Federal Correctional Institution, Terminal Island, the entire island is used for industrial and port purposes.
In comparison to its initial size, Terminal Island's land area has increased significantly. Wilmington became a part of the city of Los Angeles in 1909. Around this period, Rattlesnake Island's "Father of the Harbor," Phineas Banning, owned title to about 18 acres of land. Phineas Banning played a key role in introducing novel alterations to San Pedro Bay[6] and taking the initial steps toward expansion. The expansion was finished once it was incorporated into Los Angeles. The southern tip of Terminal Island was extended by 62 acres (0.97 sq mi) in the late 1920s thanks to the destruction of Deadman's Island, which was dynamited and dredged away in the main channel of the Port of Los Angeles.
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People in the real estate business who primarily focus on creating new properties are?
The answer is Developers.
Who is a real estate developer?
A person, company, or other organization that develops undeveloped land or redevelops existing locations is known as a real estate developer.
Developers of real estate have two options: they either work on their own dime or charge a fee. Developers are entrepreneurs since they work in the private sector.
In situations where the community's specific demands are not being met by the commercial sector, developers can also be public agencies, nonprofits, or other institutions.
Real estate developers build buildings that meet societal needs and represent their local communities. This means that in the private sector, developers start their own businesses to meet the demand for a specific kind of area, structure, community, etc
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using the rule of 70, a population growth rate of 2% annually will result in doubling a population in 35 years.
The answer is it will take 35 years for your population to double at a 2% growth rate.
Recognizing Growth Rates
The simplest application of growth rates is to show the annual percentage change in a variable. An economy's growth rate, for instance, is determined by the annual rate of change at which a country's GDP increases or decreases. To evaluate the state of an economy, one uses the rate of expansion or contraction. A country is said to be in a recession if its income drops for two consecutive quarters.
On the other hand, a nation is said to be expanding if its gross domestic product has increased for two straight quarters.
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The marketing strategy that focuses on measuring, managing, and analyzing market performance is referred to as?
The marketing strategy that focuses on measuring, managing, and analyzing market performance is referred to as marketing analytics.
The analysis of data for marketing purposes is known as marketing analytics. Businesses are able to better understand what motivates consumer behavior, hone their marketing strategies, and maximize their return on investment by applying technology and analytical procedures to marketing-related data.
In order to generate actions, marketing analytics looks for trends in marketing data. In actuality, the notion of marketing analytics can include anything from modeling and machine learning to statistics. It aids companies in better understanding their clients, goods, selling points, and other things.
Because they work defined hours and get weekends off, many marketing analysts are able to maintain a healthy work-life balance. Due to the fact that most businesses require their services, they also frequently have good job security.
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which model suggests that corporate social responsibility is composed of economic, legal, ethical, and philanthropic responsibilities that are built upon a firm's economic performance?
According to The Pyramid of Corporate Social Responsibility, a company's economic performance serves as the foundation for its economic, legal, ethical, and charitable duties.
What are the four CSR pyramids?
In essence, Carroll's CSR pyramid and the four-part definition of corporate social responsibility (CSR) provide an organizational conceptual framework that includes the economic, legal, ethical, and philanthropic or discretionary responsibilities.The first and most evident is the financial obligation to make a profit. The second is the obligation under the law to abide by the rules that society has established. The third is the ethical obligation, which is closely related to the second. Specifically, it means acting morally even when doing so is not required by law.
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Sanders inc. has applied $567,988 of overhead to jobs. actual overhead at the end of the year is $575,000. the adjustment for over- or underapplied overhead is:________-
Sanders inc. has applied $567,988 of overhead to jobs. actual overhead at the end of the year is $575,000. the adjustment for over- or underapplied overhead is $7,012 underapplied, increase in Cost of Goods Sold
When a company doesn't budget enough for its overhead expenditures, underapplied overhead results. This indicates that the budgeted amount was lower than what the company actually spent on operations.
The total amount of factory operational costs that aren't allocated to various production units are known as underapplied overhead. This issue arises when the standard allocation amount per unit of production differs from the actual amount of overhead expenses incurred during a reporting period.
Underapplied overhead is recorded as a prepaid expense or a short-term asset on a company's balance sheet, as was mentioned above. This balance sheet debit must be offset at a later time. The company's accounting department typically enters a debit by year's end to the COGS section and a credit to the prepaid expenses section to reconcile this.
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In the balanced scorecard, cycle time, employee skills, and productivity are part of the ______ perspective.
In the balanced scorecard, cycle time, employee skills, and productivity are part of the customer perspective.
What is skills?
The term skills refer to the person ability and talent that comes to the master own her work. A person is an expert in a particular profession if they can readily solve difficulties and work efficiently.
The internal metrics of the firm, such as the scorecard, staff skills, productivity, and cycle time, have a bigger impact on the customer perspective. Customer satisfaction is the product of the business's internal processes.
As a result, the balanced scorecard, cycle time, employee skills, and productivity are part of the customer perspective.
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Jackson enjoys seeing the end result of his hard physical labor. the interest area that he should consider careers in would be _____. a. business b. crafts c. science d. office operations please select the best answer from the choices provided a b c d
Jackson enjoys seeing the end result of his hard physical labor. the interest area that he should consider careers in would be craft.
A craft or trade is leisure or profession that calls for specific abilities and expertise in specialized work. Sculpture, metalwork, knitting, and printing are just a few of the creative forms that are included in crafting.
Craft competence is best understood as a complex of mental and physical accomplishments, of which manual skill is merely one component.
Features of craft are:
It is a fundamental human quality.We perform our best work in this manner.It accepts the conditions and environment in which it lives.Despite the laws and structures we establish, the craft still persists.Everything we do can be affected by it.Learn more about Craft here:
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laand, originally purchased for $27,358, is sold for $77,125 in cash. what is the effect of the sale on the accounting equation?
The effect of the sale on the accounting equation is that assets increase $49767; owner's equity increases $$49767.
How to illustrate the information?The relationship between an entity's assets, liabilities, and owner's equity is represented by the basic accounting equation, often known as the balance sheet equation. It serves as the system's cornerstone for double-entry bookkeeping. The total debits for each transaction equal the total credit.
In this case, the firm originally purchased for $27,358, is sold for $77,125 in cash.
The effect of the sale on accounting equation = ($77125 - $27358)
= $49767
Therefore, assets increase $49767; owner's equity increases $$49767.
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indicate how each account normally should be categorized on a classified balance sheet. also indicate whether the account normally has a debit or credit balance.
The following are several of the accounts included in a recent balance sheet:
1. Accrued Liabilities CL Credit
2. Prepaid Rent CA Debit
3. Cash CA Debit
4. Common Stock SE Credit
5. Notes Payable NCL Credit (long-term)
6. Equipment NCA Debit
7. Retained Earnings SE Credit
8. Accounts Payable CL Credit
What is a Balance Sheet?A balance sheet is a financial statement that lists the assets, liabilities, and shareholder equity of a corporation at a certain point in time. Balance sheets serve as the foundation for calculating investor return rates and assessing a company's financial structure.
The balance sheet, or statement of financial position, is a summary of the assets and liabilities of a corporation as well as the amount of shareholder investment. To do fundamental analysis or determine financial ratios, balance sheets can be utilized alongside other significant financial accounts.
A summary of a company's financial situation at a specific point in time is provided by the balance sheet. It cannot, by itself, convey an understanding of the trends developing over a longer time frame.
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when looking for pre-approval on a car loan you should not... look for the lowest interest rates you can find. get a loan from the car dealer directly to keep things simple. compare pre-approval offers and select the one that is best for you. select the loan that has right repayment period for you.
When looking for a pre-approval on a car loan, a person should not get a loan from the car dealer directly to keep things simple. Therefore, the option B holds true.
What is the significance of a car loan?A car loan can be referred to or considered as a loan that is taken for the purpose of purchasing a car now, and making repayments over the span of years in the future.
When someone takes a car loan directly from the car dealer, he may miss out on offers related to pre-approval car loan, and will also be having limited choices at the sacrifice of keeping things simple.
Therefore, the option B holds true and states regarding the significance of a pre-approval car loan.
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Answer:
get a loan from the car dealer directly to keep things simple
Explanation:
an economy has 410 people divided among the following groups: 60 have full-time jobs, 90 have one part-time job, 30 have two part-time jobs, 35 would like to work and are looking for jobs, 15 would like to work but are so discouraged they have given up looking, 80 are running their own businesses, 40 are retired, and 60 are small children.
An economy includes clients who purchase services and products, corporations who appoint clients and make items, and the authorities at numerous degrees who each purchase products, appoint labor, and levy taxes. Their collective interactions create a simplified economy.
A. Labor force = 25 + 20 +5 + 10+10 = 70
Adult population = 100 - children = 100 - 10 = 90
Labor force participation rate =Labor force / Adult population
LFPR = 70 / 90 = 77.78%
B. Unemployed = 10
Unemployment rate = (10/90)×100 = 11.11%
C. Employment through household survey =
Full-time + part-time jobs + looking for job + own business
= 25 + 20 + 5 + 10 + 10 = 70
Establishment survey the unpaid workers and the self owned business are not included in the employed. Under this survey it is not restricted by any age.
Employment = 25 + 20 + 5 = 50
Unemployed = looking for job + own business + discouraged worker + retired + small children = 10 + 10 + 10 +10 +10 = 5
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a vertical supply curve represents: group of answer choices an inverse relationship between price and quantity supplied. an independent relationship between price and quantity supplied. an independent relationship between price and supply. a direct relationship between price and quantity supplied.
A vertical supply curve represents: an independent relationship between price and quantity supplied.
What is a vertical supply?In a vertical supply, the amount that is being supplied is fixed and does not fluctuate when the price does. Because there is never any change in the quantity, the vertical supply is also known as a perfect inelastic supply
The supply's response to changes in price is measured by the price elasticity of the supply. It is determined by dividing the proportional change in the price by the proportional change in the amount delivered.
What Elements Might Impact the Supply Curve?The supply curve can alter depending on a variety of variables, such as changes in production costs (such as those of labor and raw materials), advancements in technology, the amount of rivalry among sellers and manufacturers, and the regulatory and tax environment.
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consider the textbook’s definition of marketing. select a company that you think effectively markets its goods, services, or ideas, and describe how the firm creates, communicates, and delivers value.
The Amazon business enterprise. As all of us recognize that it's miles US-based totally multi-national e-commerce firm. The organization had numerous other projects like Amazon sparkling, Amazon primary, and Amazon kindle.
Third parties are the primary key driver in the increase of their marketing of products and services. which will help the employer to increase their selection and make the growth quicker in each phase. other than that the following are a number of the key elements at the back of the success of Amazon.com in developing communicating and turning in values.
Constructing consider after each and each purchase most of the customers are reviewing the product and services of Amazon. so doubtingly the others may also fearlessly purchase the goods via viewing this evaluation. in order to increase the consideration closer to the agency by means of the customer.
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in terms of the number of buyers, business marketers typically deal with far (more/fewer) buyers than consumer marketers.
There are fewer but larger purchasers in business markets. Customers from businesses are more regionally concentrated. Demand from business buyers is derived from demand from final consumers.
Who are Customers ?A customer is a person or business who buys products or services from another business. Customers are important since they bring in money; without them, businesses couldn't thrive.
A customer is defined as a person who patronises a restaurant, store, or other retail establishment to purchase goods or services. Someone who visits an electronics store and buys a TV is an example of a customer.
A customer is the recipient of a good, service, product, or idea that is acquired from a seller, vendor, or supplier through a financial transaction or exchange for money or another valuable consideration
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what is the efficient markets hypothesis (emh), and what are its three forms? what evidence supports the emh? what evidence casts doubt on the emh
The Efficient Markets Hypothesis (EMH) states that stocks are listed and traded at fair value on stock exchanges, allowing for the purchase and selling of those shares at prices below and above the market price.
These are its three forms:
first, weak form The Efficient Markets Hypothesis states that a stock's price and rate of return are unaffected by its price and rate of return in the past, and that the rate of return in the past has no bearing on future returns mildly robust shape .The Efficient Markets Hypothesis states that it is pointless to predict stock price or return using publicly accessible information (such as financial statements).Future prices and interest rates are predicted by the Strong Equilibrium Markets Hypothesis Stock price return predictions based on both unpublished and disclosed information is ineffective. According to the efficient markets hypothesis (EMH), there is no room for investment to produce extra returns because everything is already fairly and accurately priced. This means that your chances of exceeding the market are slim, but passive index investing can still help you generate returns that are comparable to those of the market.To learn more about Efficient Markets Hypothesis visit:https://brainly.com/question/14311423
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It is less important to account for factors like warranties and durability when purchasing a.
It is less important to account for factors like warranties and durability when purchasing a: C. nondurable good.
What is a product?A product can be defined as any physical object (tangible item) that is typically produced by a manufacturer so as to satisfy and meet the demands, needs or wants of every consumer (customer). Some examples of a product include the following:
CokeTelevisionMicrowave ovenPencilComputerShampooAutomobile vehicleMobile phones or SmartphonesRefrigeratorWhat is a nondurable good?A nondurable good can be defined as a type of good (product) that consumers buy often and usually with the plan to use only within a short period of time because they are perishable such as:
Disposable food productsPlastic cup and platesPaperIn conclusion, we can reasonably infer and logically deduce that warranties and durability are less important to account for when purchasing a nondurable good.
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Complete Question:
It is less important to account for factors like warranties and durability when purchasing a
A. durable good
B. long-term product
C. nondurable good
D. very expensive item
suppose that quantity demand rises by 10% as a result of a 15% decrease in price. the price elasticity of demand for this good is
The price elasticity of demand for this good is inelastic and equal to 0.67.
A good in economics is any item or product that is useful. A commodity is one kind of true. a good that can't be used by clients at once, consisting of a workplace building or capital gadget, can be referred to as a great because it is able to be beneficial if it's miles sold.
Examples of goods. goods are cloth objects that you can purchase. anything that you can find in a grocery store, farmer's market, shopping mall, domestic improvement save, or some other shop is good. The charges of products are in large part decided by the supply and call for an economic system.
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When a firm does not have core competencies in an area needed to produce certain products, it may choose to rely upon a(n)____?
When a firm does not have core competencies in an area needed to produce certain products, it may choose to rely upon a analysis of supplier power. When analyzing supplier power in an industry, low supplier power generates a more appealing industry with higher profit potential because customers are not bound by suppliers.
As customers rely more heavily on suppliers, high supplier power makes the business less appealing and reduces profit potential. Suppliers have the potential to impact both pricing and availability of products resources. Providers are most powerful when businesses rely on them and are unable to move to other suppliers.
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PLEASE HELP!!1
Describe the concept of economics of scale. How does it relate to productivity?
Answer:
the phenomenon where the average costs per unit of output decrease with the increase in the scale or magnitude of the output being produced by a firm.
Explanation: