Answer:
4.16%
Explanation:
to calculate Singapore's economic growth rate we can use the future value formula (we could also use the rule of 72 but it is not very exact):
future value = present value x (1 + r) ⁿ
- future value = 900
- present value = 450
- n = 17
- r = ?
900 = 450 (1 + r)¹⁷
(1 + r)¹⁷ = 900 / 450 = 2
1 + r = ¹⁷√2 = 1.0416
r = 1.0416 - 1 = 0.0416 or 4.16%
Answer: closer to
Explanation:
Emerging economies also referred to as developing countries or emerging markets are countries which are investing in more in their productive capacity ans are also gradually moving away from agriculture as it main occupation and there is increase in industrialization.
Due to emerging markets, the world is moving closer to an economic system that is more favorable for international business. There are more quality goods produced by nations and advancement in technology has also helped the economy.
Answer:
a. less ice cream, less coffee
Explanation:
The percentage change in CPI is given by:
The percentage change in the prices of coffee and ice cream, respectively, are:
Both coffee and ice cream had an increase in price above the CPI increase, which means that both goods are being sold above the equilibrium price and thus their demand is likely to fall.
People likely will buy less ice cream, less coffee
<u>Solution and Explanation:</u>
The following would be the specifications of the training module for the cashiers:
1. There would be multiple modules consisting of the job responsibilities as refresher courses and at the same time, the new market conditions and additional job related things that they must be doing in the near future would be the other modules.
2. The key areas that the multi module training program would be focussing on would be, customer relationship training, system and data maintenance training, documentation and accounting module
3. The training intervention would be preferably on job and alongside there would be a mentor/coach allotted to the cashiers who are experts in the field preferably store managers and functional experts. For the system related modules, they would be having simulation based modules. Only during the non rush-hours there would be offline training and update sessions with respect to the progress made on their training and the productivity improvement they have achieved over the past week.
The incentives associated with the productivity improvement would be translated into incentivising the cashiers to take up the training modules. The weekly update on the productivity improvement and the progress in their training would inturn make them competitive in nature. While coming to why such distribution has been done with respect to the modules, essentially if we look at the job of the cashiers, it’s a round the clock job and they would lose out on precious working hours if the training is done on an offline basis.
The simulations would definitely help understand the process but the on job training would be the one that is standing out, as they would be continuing their task and at the same time, the result is right in front on them to experience and therefore the distribution of the modules to not stress them out and at the same time not losing out on their time as well.
Answer:
a)
1. Explicit cost
2. Implicit Cost
3. Implicit Cost
4. Explicit cost
b)
Accounting Profit is $62000.
Economic Profit is -$3000. (a loss of $3000)
Explanation:
a)
Explicit costs are those costs incurred by a business that require an outlay of money as a result of operating a business.
Implicit costs, on the other hand, are the costs that do not require an outlay of money as a result of operating a business. They are instead the opportunity costs of operating a business or the benefits that are foregone.
1. The wages and utility bills are a result of operating a business and requires and outlay of money as their payment. They are <u>explicit costs.</u>
2. The rental income could have been earned if Larry rented the showroom he is using to operate his business from. The rent foregone is an opportunity cost and is an <u>implicit cost.</u>
3. The salary Larry could have earned is also something that Brian has to forego to operate his business and is an <u>implicit cost.</u>
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4. The cost of purchases paid to manufacturer requires outlay of money and is an <u>explicit cost.</u>
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b)
Accounting profit = Total Revenue - Total explicit cost
Economic profit = Total revenue - (Total Explicit Cost + Total Implicit Cost)
Accounting Profit = 793000 - 430000 - 301000 = $62000 profit
Economic profit = 793000 - (430000 + 301000 + 15000 + 50000) = -$3000 loss
