Mona let her permanent insurance coverage lapse. She realised that the policy still had $2,498 in cash value and chose to use it to pay off some of her credit card debt. She chose the cash surrender.
What is an insurance?
Insurance is a form of financial protection in which, in exchange for a fee, one party undertakes to compensate another party in the case of a certain loss, damage, or injury. It is a sort of risk management which is intended to reduce the risk of a contingent or uncertain loss. A company that provides insurance is known as an insurer, insurance business, insurance carrier, or underwriter. A policyholder is someone or something that buys insurance, whereas an insured is someone or something that is covered by the policy.
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what are the three primary ways to manage a product through its life cycle? multiple select question. modifying the product repositioning the product modify the competition modifying the market repositioning the market decrease the brand's equity
The following three methods are the most effective for managing a product's life cycle:
shifting the product's locationA change to the productaltering the marketplaceHow does product life cycle management work?PLM, or product lifecycle management, is the process of controlling a product's lifecycle from conception to manufacture, sales, support, and eventually retirement. PLM software is a technology that assists businesses in creating and launching new goods.
In the life cycle of a product, which of the following constitutes a step?The introduction, growth, maturity, and decline phases make up a product's life cycle. Many goods are still in their advanced stages of maturity. The product eventually disappears from the market, as is the case with every product life cycle.
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Facilitated diffusion and simple diffusion are similar since both are types of ___________ transport.
Simple diffusion and assisted diffusion are both forms of passive transport. They transfer materials from a region of high concentration to one with low concentration. The former, though, differs from the latter in how molecules are moved through the membrane.
Why are assisted diffusion and simple diffusion both regarded as passive transport systems?Facilitated diffusion is a subset of passive transport. Even when aided diffusion includes transport proteins, it is still passive transport because the solution is moving down the concentration gradient. Small, nonpolar molecules can easily cross the cell membrane. Simple diffusion is one of the basic types of passive transport. Filtration, osmosis, and assisted diffusion make up the last three (also known as facilitated transfer). Each one shows a downward movement, or a change from a high concentration to a low concentration location.
Four categories of passive transportation exist:
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the rate of inflation in zimbabwe rose in 2018 from 10.6% to 577.21% in 2020. what was the positive effect of this unexpected inflation on the residents of the country?
The unexpected inflation in Zimbabwe from 2018 to 2020 had a positive effect on the residents of the country which was making fixed rate loans cheaper.
What is a positive effect of unexpected inflation?When there is unexpected inflation, it means that the prices of goods and services are rising faster than was anticipated by economists and analysts. This means that this rate of inflation was not included in the determination of fixed rates of interests on certain loans.
The residents of Zimbabwe when the inflation rose from 10.6% in 2018 to 577.21% in 202 would therefore get the positive benefit of paying less interest in real terms if they had fixed rate loans.
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which statement best characterizes international market segmentation? multiple choice it makes it easy to compare characteristics across nations. it is easier to conduct than domestic market segmentation. it is a challenging process to complete. it typically does not provide any useful data. it is a relatively inexpensive process.
International Market segmentation is a challenging process to complete.
There are six main international segmentation techniques that this bankruptcy discusses: geographic/region; financial factors; political/criminal factors; cultural elements; move-market segmentation; and micro-marketing.
Agencies can normally use 3 standards to discover exclusive market segments: Homogeneity, or not unusual needs inside a section. distinction, or being particular from different groups. reaction, or a comparable response to the marketplace.
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nominal variables are variables that are measured in:multiple choice question.employment units while real variables are measured by money.units of output while real variables are measured in prices.monetary units while real variables are measured in numerical units.numerical units while real variables are measured in monetary units.
Nominal variables are variables that are measured in: monetary units while real variables are measured in numerical units.
There are varieties of specific variable, nominal and ordinal. A nominal variable has no intrinsic ordering to its categories. as an instance, gender is a express variable having categories (male and female) with no intrinsic ordering to the types. An ordinal variable has a clear ordering.
Nominal facts is assessed with out a natural order or rank, whereas ordinal statistics has a predetermined or natural order. alternatively, numerical or quantitative facts will constantly be a variety of that can be measured.
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jerry recently was offered a position with a major accounting firm. the firm offered jerry either a signing bonus of $23,000 payable on the first day of work or a signing bonus of $26,000 payable after one year of employment. assuming that the relevant interest rate is 10%, which option should jerry choose?
Assuming that the relevant interest rate is 10% in a major accounting firm, the option to choose is the signing bonus of $26,000 payable after one year of employment.
What is accounting?Accounting, usually referred to as accounting, is the measurement, processing, and communication of financial and non-financial data regarding economic entities like firms and corporations. Accounting, sometimes referred to as the "language of business," measures the outcomes of an organization's economic actions and disseminates this data to numerous stakeholders, including investors, creditors, management, and regulators. Those who work in the accounting industry are known as accountants. Frequently used interchangeably are the words "accounting" and "financial reporting."
Financial accounting, management accounting, tax accounting, and cost accounting are some of the subfields of accounting that can be split.
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6. in its relatively short life span, uber has attracted a lot of media attention. why is this? what is it about the uber business model that is both compelling and polarizing? in addition, why has uber managed to achieve such a high valuation? what are the pros and cons of a high valuation?
In general, media attention stems from both being famous and being infamous. Uber attracts media attention not only because it has become one of the most innovative taxi services of all time, but also because its aggressiveness
Some of its policies are frequently scrutinized and criticized by people. This results in a compelling and divisive view of Uber. Uber is no longer just the on-demand cab service we once knew.
It has also dabbled in other areas, such as Uber Eats (on-demand food delivery) and Uber Freight (on-demand trucking).
To keep things simple, we'll concentrate on Uber's core business of ridesharing - its business model and how it makes money. To put it simply, Uber is a digital aggregator app platform that connects passengers in need of a ride from point A to point B with drivers willing to serve them.
"Passengers" create demand, "Drivers" supply demand, and "Uber" acts as the marketplace/facilitator to make it all happen on a mobile platform. Uber's model has enabled it to generate strong value propositions for both passengers and drivers to join its platform and disrupt the taxi/cab industry.
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variable costs as a percentage of sales for lemon inc. are 78%, current sales are $585,000, and fixed costs are $176,000. how much will operating income change if sales increase by $40,300?
If sales increase by $40,300 the firms loss decreases from -($47,300) to -($38,424).
Variable costs 78% of sales = 0.78 x 585,000 =$456,300
Sales = $585,000
Fixed costs =$176,000
Operating Profit = Sales- variable cost -Fixed cost
=$585,000- $456,300- $176,000
= -($47300)
If sales increase by $40,300 = $585,000+ $40,300
= $625,300.
Variable cost = 78% of $625,300 = $487,734
The new operating income will be:
Operating Profit = Sales- variable cost -Fixed cost
=$625,300- $487,734- $176,000
= -($38,434)
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the view held by arthur laffer and ronald reagan that cuts in tax rates would encourage people to increase the quantity of labor they supplied became known as
Supply side economics is the term for the idea put forth by Ronald Reagan and Arthur Laffer that lowering tax rates would encourage people to increase the amount of labor they provided.
Give an account on supply-side economics.The best strategies to encourage economic growth, according to supply-side economics, are to lower taxes, scale back regulations, and support free trade. Increasing supplies of products and services at reduced prices will benefit customers, and employment will rise, according to supply-side economics. The Laffer curve, a hypothesized correlation between taxation rates and government revenue, forms the cornerstone of supply-side economics. Although the precise threshold at which tax rates are considered "too high" is debatable, the Laffer curve predicts that when tax levels are too high, cutting tax rates will increase government income through faster economic development. The phrase "supply side economics" references to the theories of economists Arthur Laffer and Robert Mundell.
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Question 5 of 10
The initial amount you borrow in a loan is called the ____
A. collateral
B. simple interest
C. loan term
D. principal
The initial amount you borrow in a loan is called the principal.
What is a loan?A loan is described as money that is borrowed from another person or any financial institution. It is important to mention that the loan can also be in the form of material goods, or any property. However, the repayment of a loan includes payment along with interest.
The amount borrowed in a loan is the original sum of money, and that money is called the principal. This is the amount along with the added interest that a borrower has to repay.
It can be concluded that the initial amount you borrow in a loan is called the principal.
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Answer:
D. principal
Explanation:
which of the following statements about finance, accounting, or financial management is most correct? group of answer choices a. accounting is of no value in decision making. b. accounting provides the theory and concepts necessary to help managers make better decisions. c. financial management involves the measurement, in financial terms, of operational events that affect the resources and financing of an organization. d. the primary role of finance is to plan for, acquire, and use resources to maximize the efficiency (and value) of the enterprise. e. financial management is of no value in decision making.
D) The main responsibility of finance is to plan for, acquire, and use resources to increase the enterprise's productivity (and value).
How should finances be managed?Financial management, to put it simply, is the area of business that deals with allocating the available financial resources so as to maximize business success and return on investment (ROI). Professionals in financial management organize, plan, and manage all business transactions.
They concentrate on finding the capital, whether it comes from the entrepreneur's initial investment, debt financing, venture capital, public offering, or any other sources. Professionals in financial management are also in charge of allocating funds in an efficient manner to support the organization's overall financial stability and expansion.
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for self-constructed assets, the costs incurred include labor, materials, and multiple choice question. overhead. depreciation expense. research and development. operating costs.
For self-constructed assets, costs include labor, materials, and overhead.
Assets are resources of economic value that are owned by individuals/companies and are expected to generate profits in the future. Meanwhile in the world of accounting, the notion of assets is the component of assets listed in the balance sheet and compared with the amount of liabilities (liabilities and equity).
Although many people use the term "asset" to refer to someone's property, in fact assets do not always have to be 100% owned by the holder. For example, a company has an operating machine whose ownership is 100% funded by debt. These operational machines are still treated as assets. However, in exchange the company incurs debt repayment costs in terms of liabilities.
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a detailed plan used by a merchandising company that shows the amount of goods that must be purchased from suppliers during the period is called a(n) budget
Merchandise Purchases Budget is a detailed plan used by a merchandising company. The budgeted sales and the intended ending inventory may be added together, and the initial inventory can be subtracted to get this answer.
What is Merchandise Purchases Budget ?The process of creating a budget for a service or merchandising company is comparable to that used by manufacturers. A service or retail business won't have a budget for manufacturing or direct materials, and it's possible that it won't have one for direct labour or overhead.
The main distinction is that even when we don't have a budget for production or material purchases, we still need to know how much inventory we should acquire for a merchandiser.
The quantity of goods that a business must acquire during each budgetary period is specified in a procurement budget. The amount specified in the budget is the amount required to guarantee that there is enough inventory on hand to fulfil product requests from customers.
The budget for purchasing might be as straightforward as just matching the precise number of units anticipated to be sold within the budget period. However, there are a few extra factors to take into account that could make the budget for purchases much more difficult.
Purchasing merchandise from producers to sell on their behalf is a crucial aspect of retail management that entails retailers finding the products they need.
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yesterday, you purchased 5 pens and 12 folders. what if the price of pens rose by $3 and the price of folders declined by $2? with your income unchanged and prices for other goods remaining the same, what actions would you most likely take?
The consequences will be that I will purchase less quantity of pens and more quantity of folders.
In the beginning, I purchased 5 pens and 12 folders. Let's assume that the cost of Pens is $x and cost of folders is $y. Now, after price change the new cost of pens will be equal to $(x + 3) and cost of folders will be equal to $(y - 2). Now, since the income remains unchanged, the decisions will solely be based on the new costs of the items to be purchased. This is a factor of the Law of Demand. All other things - income & prices of other goods - are already determined to be equal or constant. In this case, I will purchase more of the good whose price has fallen and less of the good whose price has risen which would result in me buying more folders and lesser pens.
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your late aunt gertrude left you a couple of shares of microsoft in her will, which she bought for you on the day you were born. recently, there have been rumors of microsoft acquiring a well-known social media app which you frequently use. you think this is a great idea and would like to have your (very small) voice be heard as a shareholder of microsoft.must microsoft get the approval of you, and other shareholders, before acquiring the other company?
In my opinion, The company doesn't need approval from him, because when you invested your money in the company that means you approve that they managed it. So, people who conduct and have a right to approval about acquiring the other company are all members at Microsoft who has the responsibility to do it.
An acquisition can be described as process when one company purchases most or all of another company's shares to gain control of that company. Purchasing more than 50% of a target firm's stock and other assets allows the acquirer to make decisions about the newly acquired assets without the approval of the company's other shareholders.
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which dimension of ethical behavior in the digital age is represented by the following question?you are interviewing 3 applicants for a management position in your firm and wish to ensure that they will represent your company with professionalism and maturity. should you check the applicants' social media sites prior to making your hiring decision?
The dimension of ethical behavior in the digital age that is represented by the following question is called information privacy rights. Information privacy, data privacy or data protection laws provide a legal framework on how to obtain, use and store data of natural persons.
Information privacy will afford the resource person to have the full access of the individual ethical behaviour on social media and as a result could use such for whatever judgement he intends to make on his interviewee.
What is dimension of ethical behavior?Ethical Dimensions is a competency encompassing all over the curriculum so that learners will understand ethical principles that shape person and collective actions and apply those principles to the analysis of contemporary social and political problems. There are approaches to ethical issues from the angle of four moral principles which are:
respect for autonomy, beneficence, nonmaleficence, and justice.Therefore, the correct answer is as given above.
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What term refers to business organizations formed to control the supply of goods and services in an effort to drive up prices and profits?
A. mergers
B. bankruptcies
c. cartels
D. tariffs
When a business organization is formed to be able to control supply such that they can drive up prices and profits, this is called a C. Cartel.
What are cartels?Cartels refer to a business organizations which are a conglomeration of different organizations that are influential in an industry. By coming together and pooling operations, these organizations are able to influence the prices of goods and services.
This is simply because they control the flow of goods and services. And by controlling this supply, they decide the price. They could then drive up these prices to make more profit.
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which case overturned fec regulations that restricted how nonprofits could take in and distribute funds to advance their preferred candidates and policies?
The case overturned fec regulations that restricted how nonprofits could take in and distribute funds to advance their preferred candidates and policies is the Buckley v. Valeo case.
What was the case that overturned fec regulations that restricted how nonprofits could take in ?One of the case case that overturned fec regulations that restricted how nonprofits could take in is that of the Buckley v. Valeo.
It should be noted that this case serve as one of the the landmark case which make the constitutionality of the Federal Election Campaign Act to be concern much about it and made them to react.
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on january 1, 2024, a company purchased a commercial truck for $48,000 and uses the straight-line depreciation method. the truck has a useful life of eight years and an estimated residual value of $8,000. on december 31, 2026, the company sold the truck for $30,000. what amount of gain or loss should the company record on december 31, 2026?
If a corporation employs the straight-line depreciation method and bought a commercial vehicle for $48,000 on January 1, 2024, it would have to record a $3,000 loss on December 31, 2026.
Straight Line Method
>> Depreciation per year :
= ( $ 48,000 - $ 8,000 ) / 8
= 5000
>> Book value on 31st Dec -2020
= $ 48,000 - ( $ 5,000 * 3 )
= $ 33,000
>> Gain / ( Loss ) on Sale
= $ 30,000 - $ 33,000
= ( $ 3,000 )
:: Loss $ 3,000
Depreciation method is the process that reduces an asset's value over commercial time for a business. When determining and disclosing depreciation on financial statements in the US, accountants are required to use generally accepted accounting standards (GAAP). GAAP is a set of regulations that covers the specifics, intricacies, and legality of commercial and corporate accounting. Accounting experts may depreciate assets using a variety of distinct, legal techniques, as highlighted by GAAP principles.
This technique is frequently employed when an item is anticipated to depreciation method more quickly or to be more useful in the short term. Additionally, it aids in generating a bigger realized gain when the asset is sold. For more aggressive depreciation and early expense commercial management, some businesses may employ the double-declining balance equation.
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the profit for a production process is equal to $2,000 minus two times the number of units produced. the mean and variance for the number of units produced are 500 and 900, respectively. find the mean and variance of the profits.
Variance of profit is $3600.
mean variance is $ 360
Let X denote the number of units produce then E(X)=50 abd Var(X)=90
Let Y denote the profit the Y=1000-2*X
So, mean profit =E(Y)=E(1000-2*X)=1000-2*E(X)=1000-2*50=900
Variance of profit =Var(Y)=Var(1000-2*X)=4*Var(X)=4*90=360
Let X denote the number of units produce then E(X)=500 abd Var(X)=900
Let Y denote the profit the Y=2000-2*X
So, mean profit =E(Y)=E(2000-2*X)=2000-2*E(X)=2000-2*500=1000
Variance of profit =Var(Y)=Var(2000-2*X)=4*Var(X)=4*900=3600
Profit variance is the distinction between the real income skilled and the budgeted income degree.
A variance is the distinction between real and budgeted income and expenditure.
To calculate gross earnings variance, you'll subtract your projected gross benefit from your actual gross profit, which equals periodic sales minus costs of goods bought. For working variance, subtract projected working profit from actual running profit, which equals revenue minus all COGS and running prices.
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Renters insurance is insurance that covers what?
A: The cost of rebuilding the home
B: The cost of the rental payments for two years.
C: The cost of replacing the home or apartment
D: The loss of a renter's possessions
Renters insurance is insurance that covers D: The loss of a renter's possessions.
What is Renters insurance?Renters insurance can be described as the form of the insurance that help in the protection of the personal property that someone has in a rented apartment.
It should be noted that this insurance is been used by the people that do use condo or home and on the long run they experience unexpected circumstances.
These circumstances can be theft, a fire or sewer backup damage however whenever this damages occur the insurance company will come around to come and inspect the damages and they will help to savage the situation, because their will be some of the charges that the person would have agreed to be paying to the insurance company which would be o some basis, for instance some of the company do accept the payment on the monthly basis, while some of the company do collect te payment on the quarter of the year.
Therefore, option D correct.
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a broker received referrals from a neighbor of his, and paid him $100 for each referral that resulted in a sale. which is true regarding this situation?
The broker received referrals from a neighbor of his and paid him $100 for each referral that resulted in a sale. No commission is true regarding this situation.
What do you mean by broker?
A broker is a person or company who arranges deals between a buyer and a seller in exchange for a commission after the transaction is completed. A broker who also acts as a seller or buyer is considered a principal party in the transaction. Neither job should be confused with an agent, who acts on behalf of a principal party in a transaction. Brokers can provide market research and statistics. Brokers can represent either the buyer or the seller, but not both at the same time. Brokers are expected to have the tools and resources necessary to reach the greatest number of buyers and sellers.
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which code of entry provides advantages to a multinational firm that can be transferred within the firm at very low cost? a. indirect exports b. licensing c. ownership d. externalization g
(b)Licensing provides advantages to a multinational firm that can be transferred within the firm at very low cost.
What is licensing ?
In order to manufacture and advertise one or more of a firm's products within a specific market region, you must seek permission from the company (the "licensor"). In most cases, the business that acquires these rights (the licensee) consents to pay the original owner a royalty fee.
Songs, sports team logos, intellectual property, software, and technology are a few examples of things that can be licensed.
Why is licensing important?
By enforcing norms that limit practice to competent people who have met particular requirements in terms of education, job experience, and tests, professional licensure protects the public.
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what was the outcome of the microsoft temporary-worker lawsuit? select one: a. fringe benefits for gig workers were eliminated. b. plaintiffs were paid the value of stock options they would have received if employed. c. temporary workers were employed. d. internal revenue service penalties were avoided.
Option (b) is the best choice because plaintiffs got compensation equal to the value of the stock options they would have been granted if hired.
What was the result of the Microsoft temporary worker lawsuit?Microsoft Corp. and a legal firm representing more than 8,000 temporary employees at the software provider today announced a settlement of a class-action lawsuit in which Microsoft will pay the workers and their attorneys a total of $97 million.
Is Microsoft the target of a class action lawsuit?Cash reimbursements or volume licensee vouchers are the two types of compensation available to qualifying Class Members under the terms of the Microsoft class action settlement. Consumer Cash Payments are offered to qualified Class Members who bought a license for one of the Microsoft products mentioned here.
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there are currently 15.34 million people who are not working but are available and actively looking for jobs and 506.21 million people who are employed. what is the unemployment rate? round your answer to the nearest tenth.
There are currently 15.34 million people who are not working but are available and actively looking for jobs and 506.21 so, there are 2.9 million people who are employed.
The unemployment rate is the level of individuals in the workforce who are jobless. Subsequently, estimating the joblessness rate requires distinguishing who is in the workforce. The workforce incorporates individuals who are either utilized or jobless.
What is the most elevated joblessness rate in US history?
The latest noteworthy drop happened during the Coronavirus pandemic somewhere in the range of 2020 and 2021. After broad exploration, our information examination group closed: The most terrible joblessness experienced in the US occurred during the Economic crisis of the early 20s (1929-1933), when the joblessness rate came to 24.9%.
Why would that be a work lack?
The pandemic caused a significant disturbance in America's workforce something many have alluded to as The Incomparable Renunciation. In 2021, in excess of 47 million specialists quit their positions, a significant number of whom were looking for a superior balance between serious and fun activities and adaptability, expanded pay, and a solid organization culture.
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deca electronics company produces two products, resistors and transistors in a small manufacturing plant which had total manufacturing overhead of $42,000 in june and used 300 direct labor hours. the factory has two departments, design, which incurred $20,000 of manufacturing overhead, and production which incurred $22,000 of manufacturing overhead. design used 200 hours of direct labor and production used 80 machine hours. during june, 150 direct labor hours were used in making 100 units of resistors, and 150 direct labor hours were used in making 100 units of transmitters. if deca electronics company uses a plantwide rate based on direct labor hours to assign manufacturing costs to products, the total manufacturing overhead assigned to each unit of resistors and transistors in june were:
If deca electronics company produces two products, resistors and transistors in a small manufacturing plant which had total manufacturing overhead of $42,000 in june and used 300 direct labor hours. The total manufacturing overhead assigned to each unit of resistors and transistors in june were: $210 for Resistors and $210 for Transistors.
Total manufacturing overhead assigned to each unitFirst step is to calculate the overhead rate
Overhead rate = $42, 000 / 300 direct labor hours
Overhead rate = $140
Second step is to calculate the manufacturing overhead per unit
Resistors:
Manufacturing overhead per unit = 150 direct labor hours x $140 = $21,000 / 100 units
Manufacturing overhead per unit= $210 MOH per unit
Transistors:
Manufacturing overhead per unit = 150 direct labor hours x $140 = $21,000 / 100 units
Manufacturing overhead per unit = $210 MOH per unit
Therefore we can conclude that the resistor has the amount of $210 and transistors has the amount of $210 as the manufacturing overhead.
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creating a new product to increase margin is an example of using product implementations to achieve competitive advantage. group of answer choices true false
One instance of using product implementations to gain a competitive advantage is developing a new product to boost margins. Hence, the statement is true.
Elaborate on competitive advantage.A corporation is said to have a competitive edge if it can create goods or services more quickly, cost-effectively, or both than its rivals. In terms of sales or margins, these elements give the producing unit an advantage over competitors. The factors that are believed to contribute to competitive advantages include cost structure, the quality of the product offerings, branding, the distribution system, intellectual property, and customer service, to name just a few.
Due to particular advantages or circumstances, a company and its stockholders can benefit more from competitive advantages. The more resilient the competitive advantage, the more challenging it is for rivals to counter it. Two main sub categories of competitive advantage are comparative advantage and differentiated advantage.
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a commodity is simply something useful that enters the market and is: a. traded. b. available for purchase at a price. c. freely available and freely exchanged. d. all of the above.
A commodity is simply something useful that enters the market and is available for purchase at a price (option b).
What is a commodity?A commodity is described as a product or good that can be considered a resource or as an economic good. It is important to mention that the commodity can be interchanged with other goods that are of the same kind. Commodities are also used in the manufacture of services and goods, and can also be considered raw materials.
A commodity as economic good has value and this is why it can be purchased at a price. This means that a customer can purchase a commodity by providing the price of the commodity to the seller or producer.
It can be concluded that a commodity is simply something useful that enters the market and is available for purchase at a price (option b).
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18. sardi company estimates its 2015 tax expense to be $80,000. it makes a cash payment of $20,000 to the tax authorities on december 31, 2015. how should this transaction be recorded by sardi? debit tax expense $80,000; credit cash $60,000; credit taxes payable $20,000 debit tax expense $80,000; credit cash $20,000; credit taxes payable $60,000 debit tax expense $80,000; credit cash $20,000 debit tax expense $80,000; credit cash $20,000; credit accounts payable $60,000
Debit tax expense $80000 credit cash $20000, credit taxes payable $60000
tax expense estimated by the company in the year 2015 is $80000
Cash payment to the tax authorities on December 31, 2015, = $20000
So the balance tax to be paid is equal to 80000 - 20000 = 60000
Hence initially the company need to debt tax expense $80000
Then the credit cash is $80000
The provision to be made credit taxes payable $60000
Hence Debit taxes paid ($60,000), credit cash ($2,000), and credit tax expense $80000
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john smedley, a careful maximizer of utility, consumes only two goods, peanut butter and ice cream. he had just achieved the utility-maximizing solution in his consumption of the two goods when the price of ice cream fell. as he adjusts to this event, he will consume:
As he adjusts to this event, he will consume more peanut butter and less broccoli.
Consumption is an activity that aims to reduce or spend the use value of goods/services to meet needs or direct satisfaction. Those who carry out consumption activities are called consumers. It is these consumers who use goods/services either for their own use or for the benefit of people or other living things that are not for resale.
Consumption has several important functions and roles in economic activity, including the following.
Fulfillment of Human DesiresEconomic ActivitiesSupport Production ActivitiesAnalyzing Individual BehaviorFormulation of the State's EconomyIncome and Employment TheoryYou can learn more about Consumption here brainly.com/question/14933604
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