Answer:
The rewards of practicing management include:
a. Building a catalog of successful products or services
b. Becoming a mentor and helping others
c. Experiencing a feeling of accomplishment along with your employees
d. Magnifying your range and stretching your abilities
Explanation:
When management is truly practiced, the rewards are usually great. The rewards cannot be quantified by what one person has accomplished, because it has some multiplier effects. Organizational efficiency is also improved. For those in management, they will gain much experience which they can easily pass to others through mentoring and coaching. With their employees, they will also feel a sense of having accomplished something meaningful. Management also gives one the ability to go beyond one's natural range, stretching the person's abilities, and enabling her to attain better outcomes than initially imagined.
Answer:
a) The demand curve for unskilled labor is vertical.
Explanation:
Someone says, "Even though the equilibrium wage rate is $8 an hour in the unskilled labor market, if we impose a minimum wage of $10 an hour, no one currently working will lose his or her job." This person must believe that the Group of answer choices demand curve for unskilled labor is vertical.
Response to prices depend on the elasticity of demand because elasticity of demand relates to how quantity demanded will fall as a result of increase in price or in this case wage rate.
A vertical demand curve is a pictorial demonstration of a perfectly inelastic demand which means that no matter how much to you increase the price no change will occur in quantity demanded as such a good is most essential to the consumers.
Therefore if the demand for labor is perfectly inelastic, it means nobody will be laid off with increase in wage rate as firms will not change their quantity demanded for labor.
Personalities
Personalities all vary from person to person. Depending on what the persons backround is and what theyve seen and gone through there personalities differentiate from each other.
Answer and Explanation:
The following theories of profit best explain the profits of pharma companies:
1. Risk bearing - The theory says the higher the risk, the higher the rewards. The pharma companies take huge risks in inventing a new drug, having trials and the getting FDA approvals.
2. Monopoly - If a new drug is approved, the pharma company gets a patent over it, which means that it will have an effective monopoly on that segment of the market.
3. Innovation - it states that innovation is what keeps a company ahead. And pharma industry is built on innovation. Pharma companies have to continuously find new drugs because once patents run out on existing drugs, there are no profits to be made.
