All categories

4 years ago

From an economic context, select the correct definition of a market.

Business

1 answer:

ivanzaharov [21]4 years ago

5 0

Answer:

an institution that brings together buyers and sellers of goods or services

Explanation:

The economic definition of a market is ; it is an institution that brings together buyers and sellers of goods or services. They therefore interact with each other and exchange these goods and services for money. For the given examples of a market, you will make a choice based on the above definition and all of them are correct. NFL players hoping to sign with a team are suppliers of expertise and teams looking for additional players are buyers. Trader Joe's grocery store is a seller of goods and the "foodie" people are the buyers, same to local farmer's market . The New York Stock Exchange is a securities market too.

You might be interested in

Jamar Co. sold its headquarters building at a gain, and simultaneously leased back the building. The lease was reported as a fin

USPshnik [31]

Answer:

a deferred gain

Explanation:

Deferred gain occurs when the recipient of the proceeds or profits from a transaction do not collect it all upfront. Some of the gain is not collected now but deferred to some future time.

It is referred to as unrealised revenue and is represented on the balance sheet as a liability.

In the given scenario Jamar Co. sold its headquarters building at a gain, and simultaneously leased back the building. This means not all the gains from the sale are received now.

So this is a deferred gain.

6 0

3 years ago

Capstone Corp. reported $150,000 of comprehensive income for 2014. It also reported the following:

babunello [35]

Answer:

Option (D) is correct.

Explanation:

Given that,

Beginning retained earnings = $300,000

Income tax expense = $60,000

Ending retained earnings = $320,000

Cash dividends declared = $80,000

Net income:

= Increase in Retained Earnings + Dividend Declared

= (Ending Retained Earnings - Beginning Retained Earnings) + Dividend Declared

= ($320,000 - $300,000) + $80,000

= $20,000 + $80,000

= $100,000

8 0

3 years ago

What factors can affect stockpile

Vinil7 [7]

Answer:

The nature of the quarried material.

The volume of product

The area available and required.

Other potential hazards

Environmental considerations

Explanation:

In business stockpile refers to the materials that companies bought at large amount in a cheaper price. These materials are kept somewhere by the company to be used for emergencies.

There are several factors that can affect stockpiles:

The nature of the quarried material.

The only material that can be stockpiled need to have high shelf life. Things such as food ingredients tend to be hard to be stockpiled.

The volume of product

The amount of materials that stockpiled cannot be too large in volume. Otherwise it would be hard to be kept.

The area available and required.

Things such as warehouse or storage tend to be needed in order to stockpile materials.

Other potential hazards

Hazardous materials (that are poisonous or easily burnt) usually can't be stockpiled.

Environmental considerations

This is usually important when companies do the stockpiling underground. They need to ensure that the type of materials they stockpile wouldn't sipped into the ground and damage the environment around it

5 0

3 years ago

When interpreting data, a marketing manager should know that

allsm [11]

Answer: Option (E)

Explanation:

From the give options, we can state that while interpreting data, marketing managers should be able to recognize the fact that the statistical summaries derived from a sample might not be exactly precise for whole population. Sample, usually tend to state the fact that a researcher has selected group of subject from a general population and thus is recognized to be a representative of population for that study. This still does not emphasize on the fact, that preferences still tend to deviate from individual to individual or sample to sample.

4 0

4 years ago

Fisk Corporation is trying to improve its inventory control system and has installed an online computer at its retail stores. Fi

Dovator [93]

Answer:

A.Economic Ordering Quantity =600 units

B.Number of orders= 105 orders

C.Average inventory units=300 units

D.Total cost = $840

Explanation:

A. Computation for the economic ordering quantity

Using this formula

EOQ =Sqare root of (2×Annual demand×Ordering cost) /Holding or carrying costs

Where,

Annual demand = 63 000 units

Ordering cost =$4

H = Holding or carrying costs = $1.40

Let plug in the formula

Economic Ordering Quantity =Sqare root of 2×63,000×4/1.4

Economic Ordering Quantity= Square root of 504,000/1.40

EOQ=Square root of 360,000

Economic Ordering Quantity=600 units

b. Computation of how many orders will be placed during the year.

Using this formula

Number of orders = Sales units / EOQ

Let plug in the formula

Number of orders= 63,000 / 600

Number of orders= 105 orders

c. Computation of what the average inventory be

Using this formula

Average inventory units = EOQ / 2

Let plug in the formula

Average inventory units= 600 / 2

Average inventory units=300 units

d. Computation for the total cost of ordering and carrying inventory

First step is to find the Ordering cost

Using this formula

Ordering costs = Number of orders × Cost per order

Let plug in the formula

Ordering costs= 105 × $4 = $420

Second step is to find the Carrying cost

Using this formula

Carrying costs = Average inventory × Carrying cost per unit

Let plug in the formula

Carrying costs = 300× $1.40

Carrying costs =420

Now Let find the Total cost

Using this formula

Total cost = Ordering costs + Carrying costs

Let plug in the formula

Total cost= $420 + 420

Total cost = $840

Therefore in a situation where a firm decide to place an orders based on the EOQ, this means the ordering costs will equal the carrying costs.

6 0

4 years ago