Induction in business can be defined as the process of acquainting new employees with your business in a workplace.
It has to do with helping this new employees to settle in and as well enlightening/orientating them with information they need/require necessary for them to become valuable team members to achieve set goals.
Induction generally help employees to acclamatise and as well adjust to their jobs and working environment as well.
FUNCTIONS
- To help the employees learn the policies the guide the business or organization.
- To help the employees learn the practices the business or organization is concerned with.
- Induction help employees to quickly learn the practices of a business or Organization.
- It also enlightens the employees on the ethics and ettiquettes guilding the business or organization.
- To make the employees uñderstand the systems and procedures that are followed by the business or organization.
- It also help new employees to settle down rapidly as well as gives them a sense of belonging.
Three types of Induction exists which are; General Induction Programme, Specific Orientation Programme and Follow-up Induction Programme.
Answer:
a. Facilitating a greater supply of money for borrowers
Explanation:
Interest rates represent the cost of borrowing money. Low interest implies a reduced cost of borrowing money. Households and firms will be encouraged to borrow more when interest rates are low.
Increased borrowing results in an increase in consumer spending and investments. The amount of money supply in the economy increases as individuals and businesses borrow.
Lack of competition can lead the doctor to charge high prices to patients
<u>Explanation:
</u>
America's Government has anti-trust legislation to prevent monopolies from manipulating the market, price gouging, and stifled consumer choices. A monopoly is a case when a company that makes a product or a service dominates the market without a similar alternative.
After a monopoly is created, the seller can be led to charge customers high prices because of the lack of competition. A monopoly, therefore, reduces the customer choice. The monopoly is true if there is no alternative on the market at all.
This is acceptable to have monopolies if the customer profits. In some situations, governments may interfere and build a monopoly on delivering a particular railway, transport or postal system to customers.
Determining how much money to print is a complex process that requires balance.
Answer: Option A.
<u>Explanation:</u>
Economics is the study of the economy and the processes that the economy is involved into which include the production, the consumption, and the distribution of the goods and the services in the economy.
It is related and the study of the activities which are related to money. Thus it is the related with the growth and development of the economy. So the study of economy is a very complex study and there should be a proper balance maintained in it.
Answer:
Net income decreases by $10,000
Explanation:
5,000 units
Make Buy
Direct materials $55,000
Direct labor $160,000
Variable overhead $75,000
Fixed overhead $175,000 $135,000 ($175,000-$40,000)
Cost to purchase (68*5000) <u> </u> $<u>340,000</u>
Total cost <u>$465,000</u> <u>$475,000</u>
Cost lost = $465,000 - $475,000
Cost lost = -$10,000
So, Net income decreases by $10,000