Economic choice and competitive behavior are the result of (A). basic human greed is correct option.
The issue of scarcity arises from the fundamental notion that human needs and wants are limitless, but that there are only a limited number of resources on earth that can be used to generate goods and services to satisfy those needs and wants. Though there is nearly always some degree of government interference in such economies, "capitalism" is the term used to describe the economic system that is founded on private ownership and competition driven by profit.
Due to a lack of resources, people must decide what to produce, how to produce, and for whom to produce. As a result, there are additional uses for economic resources, which increases competition.
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When referring to flexible manufacturing, it is TRUE that it ________.
A) relies heavily on labor, since humans are more adaptable and smarter than even the fastest machines
B) uses machines designed to perform multiple tasks so they can be used to produce a variety of products
C) achieves its flexibility at the cost of much slower rates of production than mass production techniques
D) is only possible when using mass production processes since these processes are specifically designed to adapt
E) stops or slows down production when variations in design are desired
Option A is correct. All of its components are controlled by a single CNC (Computer Numerical Control) machine hub. It also has a storage system attached to it for unattended operation. FMS Flexible manufacturing system expansion costs are lower.
A production technique called a flexible manufacturing system (FMS) is made to quickly adjust to changes in the kind and volume of the product being manufactured. A variety of parts can be manufactured by machines and automated systems, which can also adapt to changing production levels.
A flexible manufacturing system (FMS) is created from the start with the ability to quickly adjust to changes in the kind and volume of products being produced.
The majority of production in an FMS is automated, which lowers labour expenses overall.
However, compared to a fixed system, an FMS system is more expensive to develop and implement, and it also needs trained technicians.
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What questions do you answer when you manage a project? Select an answer a. all of these answers b. How will you know when you're done? And how well did the project go? c. What's your plan? d. What problem are you solving? And how are you going to solve it?
When i manage a project i am going to ask all the question mention in the question statement.
When managing a design, I answer questions that help me to understand the objects, the approach, and the asked outgrowth. These questions include What problem are you working? How are you going to break it? What is your plan? What coffers do you need? What timeline are you working with? What pitfalls live and how will you alleviate them? How will you measure success? How will you know when you are all done? And how well did the design go? By asking these questions, I can gain clarity about the design, determine the stylish approach to take, and produce a plan for success. This helps me insure that the design in project managment completed efficiently, on time, and within budget.
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the balance sheet of a ________ company will include work-in-process inventory as a line item.
The balance sheet of a manufacturing company will include Work-in-Process Inventory as a line item. In order to put the completed product together, manufacturing companies require these raw materials, components.
Three alternative manufacturing production models exist. The first is make-to-stock (MTS), a conventional manufacturing method that relies on past sales data to anticipate demand and make appropriate plans. Businesses that employ these raw materials, pieces, and components to put the completed product together are known as manufacturing company . Customers can request customized items using the make-to-order (MTO) marketing tactic. Although there is minimal to no risk of having too much inventory, the procedure starts as soon as the order is received, thus the waiting period may be longer. The last option is make-to-assemble (MTA), which depends on demand projections to stock product components. But unlike MTS and MTO, the assembly doesn't start until the order is placed, giving it a good medium ground.
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What is the most important thing about creating learning experiences?
It encourages participation. Employees that take charge of their learning become very engaged students. In favor of variety. Differentiation is acknowledged through experiential learning.
What function do employees serve in a company?In exchange for pay and occasionally benefits, an employee provides labor to a company. The type of agreement that each group of people has with a company determines the legal distinction between them as workers and independent contractors.
Why are staff members so important to small businesses?Employees are important since they, among other things, accomplish your goal and influence your customers. They finish the task you gave them. One of the key reasons why employees are essential to a success of an organisation is that they are directly responsible for achieving your goal.
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Which of the following is an example of price discrimination?
Increasing the price of a product when demand for the product increases.
Charging different prices for a product in different regions of the country due to differences in transportation costs.
Bundling complementary products to attract additional sales.
Reducing the price of a product to reduce excess inventory.
Increasing the price of product when demand for product increases is an example of price discrimination.
What is price discrimination?Price discrimination is a marketing strategy where a vendor may charge different prices to customers for the same commodity or service depending on what they think they can get them to accept. In more common forms of price discrimination, the provider creates groups of customers based on specific traits and assigns a different price to each group. Price discrimination is most advantageous when the profit from splitting the markets exceeds the profit from keeping the markets together. How long different groups are willing to pay different prices for the same commodity depends on the relative elasticities of demand in the submarkets, which also affect whether price discrimination is effective.
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What are the 6 types of flexibility?
Static stretching is probably everyone's least favorite way to stretch – it is basically just holding a stretch, no movement , Active Static Stretching, Isometric Stretching, Facilitated/PNF Stretching, Dynamic Stretching and finally Ballistic Stretching.
What is Dynamic Stretching?Dynamic stretches are active movements where joints and muscles go through a full range of motion. They can be used to help warm up your body before exercising.Dynamic stretches can be functional and mimic the movement of the activity or sport you’re about to perform. For example, a swimmer may circle their arms before getting into the water.Dynamic stretches can also be a series of movements to get the body moving before any type of exercise. Some examples include trunk twists, walking lunges, or leg swings against a wall.Dynamic stretches are meant to get the body moving. The stretches aren’t held for any length of time. Dynamic stretches include movement, such as lunges with a torso twist.
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If M = 12,000, P = 3, and Y = 32,000, then velocity = 8. Velocity will rise if money changes hands less frequently. O 1.125. Velocity will rise if money changes hands more frequently. 1.125. Velocity will rise if money changes hands less frequently. 8. Velocity will rise if money changes hands more frequently.
If M = 12,000, P = 3, and Y = 32,000, then velocity = 8. Velocity will rise if money changes hands less frequently. Thus the correct option is A.
What is the Velocity of money?Reciprocal relationships exist between the supply of money and currency movement. The value of circulation will increase if an economy's money supply is not adequate.
When a currency is used to purchase finished products and services more frequently than usual per unit of time, monetary inflation rises.
The calculation for velocity is
V = (P x Y ) /M
V= (3 x 32,000)/12,000
= 8
The velocity is 8 and it will rise if changes in money of hand take less frequently. Therefore, option A is appropriate.
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What is the purpose of world trade organizations to all the countries when it comes to globalization and give example?
The purpose of the world trade organizations to all the countries when it comes to globalization is to set rules for trade. For example, the making of tariffs for international marketing.
The World Trade Organization (WTO) is an international body that sets the rules for global trade between countries.
It provides a platform for countries to negotiate trade agreements and settle disputes between each other, which helps to maintain a stable global economic system. WTO agreements aim to promote free and fair trade, reduce tariffs, and eliminate trade barriers such as quotas or subsidies.
This helps to ensure that all countries have access to global markets, allowing them to benefit from increased trade and economic development.
For example, the WTO's General Agreement on Tariffs and Trade (GATT) was signed in 1994, which resulted in the removal of many of the trade restrictions between countries, leading to a more open, global economy.
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What are the 4 types of compensation?
The 4 major types of compensation are:
Salary is the regular payment (monthly or yearly) that an employee receives for his work.Hourly wages are pay that an employee earns based on a set hourly rate.Commissions are the payment that an employee receives when completing a specific task, usually, the commissions are generated by the sale of goods and services.Bonuses are additional compensations that an employer gives to an employee that complements their salary so that he feels valued in the company. For example, a seniority bonus.What is compensation?Compensation on the job is the payment that an employee receives for their professional services.
This compensation can be direct, which includes money paid to employees in cash. Also, there is indirect compensation that includes non-monetary benefits, such as paid leave, time off, free lunches, healthcare, child care, flexible work hours, training opportunities, etc.
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Current liabilities meet all of the following criteria: (check all that apply)O Are due within one year O Represent probable future sacrifices of economic benefits O Arise from past transactions or events O Are due greater than one year from the balance sheet date O Are amortized equally each period once put on the books
Most of the time, long-term liabilities are due more than a year from now, while current liabilities are due immediately.
Which of the following is a current liability answer?Current liabilities include things like accumulated expenses, short-term debt, due dividends, and accounts payable. Current assets are assets that are depleted within a year, and they are often used to settle current liabilities. Accounts payable, short-term loans, dividends, and notes payable are a few examples of current obligations. Income taxes are also included in this category.
Accounts payable, bank overdrafts, sales tax obligations, accruing expenses, etc. are a few examples of well-known current liabilities. Current liabilities are obligations that must be satisfied within a year, during the entity's operating cycle, or both if the cycle is longer than a year, in cash, in products and services, or both. Debentures with a repurchase option are not current liabilities. Adding the value of trade payables results in the calculation of current liabilities, which are the company's debts that are due within a year.
Therefore the correct answer is Are due greater than one year from the balance sheet date .
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How do you convince customers to delay delivery?
First, make sure to express your sincere regret for the delay and the circumstances surrounding it. Offer a reward or discount on future orders after that. In order to optimize your procedure for upcoming delivery, ask the consumer for input one last time.
How do you explain a delivery delay to a customer?Your order has been delayed, we apologize to notify you. Your order will not arrive right away due to a shipping strike. We sincerely regret any difficulty caused and thank you for your cooperation. If you have any additional questions, we would be happy to help.
How would you provide a consumer an example of a late delivery?We deeply regret the inconvenience caused by the delay in delivering the goods you requested from us. This inconvenience has been brought on by errors in the production division. In addition, we have received a ton of unexpected orders this month, which has all contributed to the delay.
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The amount of capital equipment used up or destroyed is called the ____________.
a) NPDI
b) CFC
c) GPDI
d) None of the above
The amount of capital equipment used up or destroyed is called the Consumer Fixed Capital (CFC).
Consumption of Fixed Capital (CFC) is a measure of how much businesses, governments, and homeowners' fixed assets have lost in value. Due to expected ageing, ordinary wear and tear, and a typical rate of accidental damage, fixed assets lose value over time. However, they do not include unexpected obsolescence, significant disasters, or the depletion of natural resources.
CFC in national accounts does not function as a technique of distributing the expenses of previous investments in fixed assets over succeeding accounting periods, in contrast to "depreciation" in corporate accounting. Instead, it is the assets' future advantages declining as a result of being used in the production process.
The correct answer is option b.
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Sanitizing language, such as "wasting" or "whacking" instead of killing is an example of:
a. behavioral classification
b. metaphorical cataloging
c. cognitive adage
d. euphemistic labeling
Sanitizing language, such as "wasting" or "whacking" instead of killing is an example of euphemistic labeling.
Knowing the precise response to the inquiry, is crucial. The fundamental concept of EEO (or equal opportunity) seems to be that everyone must be treated fairly while being taken into account for various occupational decisions.
Euphemistic terminology another method people can morally deviate from established moral standards is by using euphemism terminology to describe repugnant behaviour. Individual thought patterns that serve as the foundation for paths of action are shaped by language.
Therefore, the correct answer will be (d)
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A worksheet is a multiple column form that facilitates (make easy) the O a. Analysis process O b. Identification of events O c. Preparation of financial statements O d. Measurement process
The correct answer is C. A worksheet is a multiple-column form that facilitates (makes easy) the Preparation of financial statements.
An economic aim is any plan you have for your cash. you could have short-time period monetary dreams (like saving up $1,000) or lengthy-term financial goals (like investing for retirement). You must set desires for every vicinity of your lifestyle, however, having financial goals allows you literally placed your money wherein your intention is.
Key brief-term desires consist of putting a price range, reducing debt, and starting an emergency fund. Medium-term dreams should encompass key insurance rules, while lengthy-term goals want to be centered on retirement.
Examples of various sorts of monetary desires encompass: Create a price range. store for retirement and different lengthy-term plans. keep for short-time period and mid-time period plans. pay off debt.
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Use the long-run average total cost(LRATC) curve below to answer the 3 multiple choice questions.
1) As the firm moves from point A toward point B, They are experiencing :
- Constant returns to scale
- Diseconomies of scale
- economies of scale
2) As the firm moves from point B toward point C, They are experiencing :
- Constant returns to scale
- Diseconomies of scale
- economies of scale
3) As the firm moves from point C toward point D, They are experiencing :
- Constant returns to scale
- Diseconomies of scale
- economies of scale
1) Economies of scale 2) Diseconomies of scale 3) Constant returns to scale
are the 3 conditions that are being dealt with.
Diseconomies of scale occur when a corporation or business expands to the point that the expenses per unit increase. It occurs when a company's economies of scale no longer operate. With this theory, rather than enjoying continuous lowering costs and growing production, a business experiences an increase in costs when output is raised. However, if it takes one person to run a machine and 50 machines are added to the warehouse, there is a significant likelihood that these 50 new employees will get in each other's way and make it more difficult to generate the same amount of production per hour. This raises costs while decreasing production.
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What is business cycle discuss the various effects of business cycle over the economy of a country?
The periodic expansion and decline of a country's economy, primarily as expressed by its GDP, is known as a business cycle.
Governments attempt to control business cycles through spending, tax increases or decreases, and interest rate changes. Business cycles can have an impact on people in a variety of ways, including job searching and investing.
The business cycle model demonstrates how a country's real GDP changes over time, passing through several phases as total output rises and falls. Long-term analysis of the business cycle reveals a constant rise in the economy's potential output.
What is the economic business cycle?When the Gross Domestic Product (GDP) fluctuates around its long-term natural growth rate, it is said to be in a business cycle. It explains the cyclical ups and downs in economic activity that a country's economy goes through.
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What were two trade routes that were very important for the Europeans to get to the Far East?
Two crucial trading routes for Europeans to reach the Far East were North Africa and the Red Sea.
Which two major trade routes were there?The Spice Route as well as the Silk Route were the two primary trade lanes during the medieval era. These goods were transported over great distances by seagoing ships or pack animals traveling over land over the Silk and Spice Routes, which served as the main communication routes tying the several ancient empires of the Old World together.
What was the initial trade route?The Yellow River in China and the Nile, Tigris, & Euphrates in modern-day Iraq were the first and greatest trade networks. The rich basins of these rivers provided the necessary conditions for the growth of towns, which eventually prospered as a result of the import and export of goods through their waterways.
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on an annual basis, the per capita electricity usage in ethiopia is approximately what percent of the per capita electricity usage in the united states?
on an annual basis, the per capita electricity usage in ethiopia is approximately percent of the per capita electricity usage in the united states 0.2
The group of natural events collectively referred to as electricity are those that are associated with the presence and motion of matter that carries an electric charge. The phenomena of electromagnetism, which has both magnetism and electricity as components, is described by Maxwell's equations. Electricity is a component of many common phenomena, including lightning, static electricity, electric heating, electric discharges, and many more.Existence of an electric charge—which could be positive or negative—creates an electric field. Magnetic fields are also produced by electric current, which is the result of moving electric charges.When a charge is placed in an area with an electric field that is not zero, a force will be exerted on it. Coulomb's law states that this force has a specific magnitude.
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After much consideration, you have chosen Ireland over Spain for your study abroad program next year. However, the deadline for your final decision is still months away and you may reverse this decision. Which of the following events would prompt you to reverse this decision:
a. The marginal benefit of going to Ireland increases
b. The marginal cost of going to Spain increases
c. The marginal benefit of going to Spain increases
d. The marginal cost of going to Ireland decreases
The marginal cost of going to Ireland increases and The marginal benefit of going to Spain increases events would prompt you to reverse this decision.
Marginal benefit can be defined as the part where the person is willing to pay an additional amount for an additional quantity to acquire.
Professions that seem to be better suited to their passions, abilities, opportunity, and training Will be best suited for the person to go to Ireland over Spain. The overall advantage of visiting Ireland will decline.
The overall value of visiting Spain will rise. And if these factors are reversed with respect to spending the marginal benefit will also be changed.
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What happens to interest rates in contractionary policy?
A contractionary policy raises interest rates and restricts the amount of money in circulation in order to impede economic growth and minimise inflation, which is the rise in the cost of goods and services in an economy that lowers the buying power of currency. While the interest rates tend to decreases in case of contractionary fiscal policy/
Interest rates rise as a result of contractionary monetary policy since it restricts the amount of money that can be borrowed in the economy. Basically, the amount of money that banks have available to lend will change since the policy affects how much money is produced.
The national deficit is reduced by Contractionary fiscal policy. The interest rate falls when the quantity of loanable money rises or the demand for loans declines. Interest rates are influenced by fiscal policy more than monetary policy.
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A contractionary monetary policy raises interest rates and restricts the amount of money in circulation in order to slow economic growth and minimize inflation, which is the rise in the cost of goods and services in an economy that lowers the buying power of currency.
The Federal Reserve, the nation's central bank, employs contractionary monetary policy as a macroeconomic tool to lower inflation.Reduced money supply, or the quantity of cash and readily usable funds floating about the country, is intended to slow down the pace of the economy. Expansionary monetary policy is in opposition to it.
Looking at the rate of inflation helps governments and central banks determine whether an economy is overheated. The cost of goods and services will inevitably rise in response to an increase in demand. For instance, in the US, a normal yearly inflation rate is typically seen as being between 2% and 3%.
However, if inflation is increasing faster than its intended rate of increase, it serves as a warning and serves as the primary impetus for executing a contractionary monetary policy.
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An adjusting entry that credits Salaries Payable is an example of a(n) ________.
A. accrued expense
B. deferred expense
C. deferred revenue
D. accrued revenue
E. None of the above
An adjusting entry that credits Salaries Payable is an example of a(n) A. accrued expense.
An adjusting entry is an accounting entry that is used to recognize events that occurred before the end of the accounting period.
An adjusting entry that credits Salaries Payable is an example of an accrued expense. This type of entry is used to recognize an expense that is incurred during the current period but not yet recorded in the books.
It is important to record this type of expense as it will affect the accuracy of the financial statements.
Accrued expenses are commonly seen in payroll and accounts payable and can help to ensure that the company's financial statements remain accurate.
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Explain two procedures for making payments.
The two procedures of making payments are cash and cheque.
What are the ways that are used for making payments?It should be noted that cash and cheque are simply the ways which are used for making payments. A cheque simply means a financial instrument which is an order of payment to an individual. In this case, the cheque can be provided to a receiver through the payee who just needs to write the amount, the name of the receiver as well as a signature, and the cheque can then be given to the receiver who will simply then deposit the cheque in his or her own account and thus the bank will pay the receiver from the payee account.
On the other hand, cash is a a medium of payment and it is known as the on the spot payment. However, an online transfer can also be used to transfer the amount, this amount is paid online through bank to bank.
In conclusion, payment can be made in multiple ways explained above.
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A debit entry is always an increase in the account. (True or False)
This statement is True. A debit entry will increase the balance of an asset or expense account, causing the account balance to increase. On the contrary, a credit entry reduces the account balance.
A debit entry adds to the account and a credit entry decreases it. Debit entries are used to record transactions such as sales, purchases and payments. When a customer purchases a product or service, a debit entry is made to record the sale. Similarly, when a purchase is made, a debit entry is made to record the purchase. After the payment is made, a debit entry is made to record the payment. In conclusion, debit entries are always an increase in the account balance and are recorded on the left side of the ledger.
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Which of the following statements about monopolistic competition is true?
The products sold under monopolistic competition are homogenous
The products sold under monopolistic competition are differentiated
The products sold under monopolistic competition are homogenous but supported with advertisements
The products sold under monopolistic competition are differentiated but supported with advertisements
The products sold under monopolistic competition are differentiated but supported with advertisements.
What is Monopolistic competition?
Monopolistic competition is an economic model of market competition in which a large number of small firms compete against each other with similar, but slightly differentiated products. Unlike perfect competition, each firm has some degree of control over the price of its product, and the products of these firms are often differentiated by marketing, branding, and other techniques. Firms in a monopolistic competitive market have a difficult time making long-term profits due to the pressure of competition and the tendency for firms to undercut each other's prices.
What are Advertisements?
Advertising is basically a form of communication used to persuade an audience (viewers, readers or listeners) to take some action with respect to products, ideas, or services. It includes the name of a product or service and how that product or service could benefit the consumer, to persuade a target market to purchase or to consume that particular product or service.
Hence, Option D is true.
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Corporate governance includes concerns about: O business ethics and social responsibility. O the responsibilities of the board of directors. O equitable treatment of stakeholders.O disclosures and transparency. O all of the above
Out of the choices provided, it may be stated that the concept of corporate governance includes concerns about,
business ethics and social responsibility;the responsibilities of the board of directors;disclosures and transparency.Therefore, the option D holds true.
The concept of corporate governance can be referred to or considered as the one wherein the effective functioning and operation of a corporate organization is ensured by following proper ethical business practices. The directors also have to maintain disclosures and transparency as a part of the same.
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You are a marketer for a company that sells inexpensive picture frames through stores like All A Dollar and Walmart. What is the most likely type of customer involvement scenario that matches your product and marketing mix strategy
Low-involvement decision scenario is the most likely type of customer involvement scenario that matches your product and marketing mix strategy.
When it comes to your product and marketing mix strategy, a low-involvement decision scenario is the most likely type of customer involvement.
In this scenario, customers generally take a passive approach and focus less on research, often making decisions based on their initial impression of the product.
This means that it is important to make sure that your product is well-presented, with clear, concise product information and attractive visuals. In addition, ensure that the customer journey is simple and straightforward, with no unnecessary obstacles that could discourage them from making a purchase.
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When marginal revenue for a firm equals marginal cost what can be said about the firm?
When marginal cost and marginal revenue are equal, your company's output level is at its peak. At this point, efficiency is at its highest, and profits are at their highest.
When a company's marginal revenue and cost are equal, what can be said about it?When marginal revenue and marginal cost are equal, the corporation should increase its level of output in order to maximize profit. The extra money a corporation makes if it increases production by one unit in a competitive market is referred to as marginal revenue.
Why would a company want to maximize profit when marginal income and marginal expense are equal?The output where MC and MR are equal is the maximum profit. As long as the revenue from producing an additional unit of output (MR) exceeds the cost of producing that additional unit of output, the company will increase its profit by using more variable input to produce more output (MC).
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The major cultural values of a society are expressed by _________.
A.people's views of themselves
B.people's views of the universe
C.people's views of organizations
D.people's views of society
E.people's views of themselves and others, as well as their views of organizations, society, nature, and the universe
People's perceptions of themselves and others, as well as their perceptions of organizations, society, nature, and the cosmos, convey the primary cultural values of a civilization.
Broadmindedness, curiosity, and inventiveness are all essential traits in these civilizations. Individuals with emotional autonomy are more likely to pursue stimulating, affectively rewarding personal experiences. Pleasure, an active life, and variety are all important virtues. People are treated as entities immersed in a collectivity in 'Embeddedness' cultures. Meaning in life is supposed to be derived mostly through within-group social ties, such as identifying with the group, engaging in its common way of life, and striving toward its shared objectives. Embedded cultures place a premium on upholding the status quo and preventing acts that might jeopardize in-group cohesion or the conventional order. Social order, respect for tradition, security, obedience, and wisdom are all important qualities in these civilizations.
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Two area banks, Bank A and Bank B, decided to merge their operations. This is an example of a a. programmed decision b. structured decision. c. bad community decision. d. nonprogrammed decision e. decision rule.
Two area banks, Bank A and Bank B, decided to merge their operations. This is an example of a . d. nonprogrammed decision.
An example of a financial institution that lends money is a bank, which both collects deposits from the public and creates demand deposits. [1] By utilizing capital markets, the bank can engage in direct or indirect lending activities.Banks are heavily regulated in most countries because they are essential to the financial stability and economic health of a nation. The fractional reserve banking system, in which banks maintain liquid assets that are only partially comparable to their current liabilities, has been institutionalized in the majority of countries. In addition to other constraints intended to assure liquidity, banks are often subject to minimum capital requirements based on an international set of capital norms known as the Basel Accords.The growth of banking in its modern form began in the fourteenth century.
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The style of leadership that Kari is exhibiting is likely to: The style of leadership that Kari is exhibiting is likely to: ensure that the organization is financially stable. stifle innovative thinking about ways to move out of financial jeopardy.
The leadership style that adopted by Kari will c. Lead to apathy and disinterest in the organizational goals. That's because Kari tends to push and doesn't discuss with its members, only decides things unilaterally.
Leadership generally can be defined as the ability of an individual, group or organization to "lead", entire organizations, influence or guide other individuals or team. There are several types of leadership, such as Autocratic leadership, Laissez-faire leadership, Transformational leadership, and also Democratic leadership. Also there are several keys of leader, such as Excellent communication, Honesty, Creativity, Confidence.
Kari, a head nurse on the dialysis unit, has been informed during budget planning meetings that budget cuts are likely. She discusses this at the next unit meeting and tells staff members that unless they do their jobs well, their positions may be terminated, and there will be no replacement.
The style of leadership that Kari is exhibiting is likely to:
a. Ensure that the organization is financially stable.
b. Stifle innovative thinking about ways to move out of financial jeopardy.
c. Lead to apathy and disinterest in the organizational goals.
d. Lead to decreased attrition of staff on her unit.
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