Answer:
The retail sector consistently accounts for around 5% of Gross Value Added in the UK economy. 14% of all UK investment made by large non financial-sector firms is made by large retailers. Retailers purchase around £180bn worth of goods for resale, supporting £47bn of output from other sectors.
Answer:
b) The $355,000 manufacturing cost of the tables already incurred.
Explanation:
The Business has already incurred this expense in making the coffee tables, this can not be done. Therefore, it does not make sense to consider this when considering whether to complete the
Tables, or sell them as they now are
All other points contribute either directly or indirectly to the decision that the company is about to take in this regard.
So, the correct answer is b
Answer:
The options for this question are the following:
A. Quantity demanded will decrease, quantity supplied will increase, and a shortage will result.; B. Quantity demanded will increase, quantity supplied will decrease, and a surplus will result.; C. Quantity demanded will decrease, quantity supplied will increase, and a surplus will result; D. Quantity demanded will increase, quantity supplied will decrease, and a shortage will result.
The correct answer is C. Quantity demanded will decrease, quantity supplied will increase, and a surplus will result.
Explanation:
There is a strong correlation between pricing (at prices higher than the equilibrium price) and the creation of excess supply. Following the analysis of supply and demand, if we start from an initial equilibrium situation (where the quantity demanded and supplied are equal) and the authority decides to set a much higher price, the quantity demanded of the product will decrease and, on the other hand, the quantity supplied will increase, so producers will want to sell more than consumers want to buy. The previous problem will be solved if the authority decides to lower the price of the product, since this encourages consumers to buy more and bidders to produce less.
Business ethics is possible and it can be fully practiced by a person who is hard core successful businessman.
Explanation:
- Ethics is a philosophical science of understanding human behavior from all the aspects and differentiating between right and wrong.
- Business or corporate ethics deals with ethical and moral challenges faced in a business environment. It can be also defined as a set of principles or values decided by the organization's culture.
- Functioning is an important element in any of the business undertaken. And the functioning of these corporate ethics in a way which are personal, professional and corporate helps one to achieve success in business.
- It is mandatory to follow business ethics as they have a potential impact on the organization.
- Following business ethics helps one to achieve their goal in a defined and polished manner
Allocative efficiency of a product is achieved when parties are able to use the accurate and readily available data reflected in the market to make decisions about how to utilize their resources
