Entrepreneurship is the act of starting own business, this includes risk, most of the times financial loans are obtained from banks and secured against assets of the business.
<h3 /><h3>What is Small Business?</h3>
A small business is the business which is small in nature, mostly this includes sole traders, the capital is injected by the owner there is no or lower long term liabilities, fewer employees and lower revenue.
Small businesses should be encouraged as these businesses provide profits to individuals which will also contribute to the economy, and these small businesses will provide employment opportunities to young individuals. They fail because of high risk.
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Answer:
The amount of cash collected in March should be:
$51,000.
Explanation:
a) Data and Calculations:
Budgeted sales and Cash Collections:
January February March April
Total sales $50,000 $60,000 $40,000 $30,000
Collections:
35% month of sales 17,500 21,000 14,000 10,500
45% month following 22,500 27,000 18,000
20% second month 10,000
Total collections in March $51,000
b) The above calculations concentrated on the month of March, being the month of interest. Though, sales on account totals $40,000, the cash collections for the month amounts to $51,000. This arises from cash collections from the months of January and February.
Answer:
Some of the oligopoly effects are discussed as follows:
i. Restriction on output:
Implies that oligopoly results in small output and high prices as compared to other market structures, such as perfect competition.
ii. Price exceeds average costs:Implies that under oligopoly, there are restrictions on entry of new organizations. Thus, organizations charge prices more than the average costs. Therefore, consumers have to pay more in case of oligopoly market.
iii. Lower Efficiency:
Leads to non-optimum levels of output. This is because the output produced under oligopoly depends on the market share held by the organization. Thus, the oligopoly organizations fail to build the optimum scales of economies and achieve optimum output.
iv. Selling Costs:
Refer to high promotional costs. The oligopolists engage in high promotion tasks to take the share of its rivals. Thus, the resources are wasted in form of high selling costs which do not add to the satisfaction of customers.
Apart from aforementioned points, oligopoly shows the poor performance from various other angles. From the point of economic welfare, it fails to satisfy customers since the price charged is very high, even more than average costs. In addition, sometimes oligopolists may face wasteful fluctuations in output as the output is not determined optimally.
HOPE IT HELPS.
A major goal of use of an electronic health record is the sharing of important clinical information about a patient. The use of
Continuity of Care Documents (CCD) is directly related to this goal.
>Electronic health record<span> (</span>EHR<span>), or </span>electronic<span> medical </span>record<span> (EMR), are the systematized collection of </span>patient<span> and population </span>electronically<span>-stored </span>health information<span> in a digital format.</span>
Answer:
The answers are:
When the price increased from $2.00 to $2.50 the PES was 1.5
When the price increased from $2.50 to $3.00 the PES was 1.36
Explanation:
The formula used to calculate price elasticity of supply (PES) is:
PES = [(New Quantity Supplied – Old Quantity Supplied)/(Old Quantity Supplied)] / [(New Price – Old Price)/(Old Price)]
PES = % change in quantity / % change in price
When the price increased from $2.00 to $2.50 the PES was:
PES = [(110 - 80) / 80] / [(2.50 - 2.00) / 2.00] = 1.5
When the price increased from $2.50 to $3.00 the PES was:
PES = [(140 - 110) / 110] / [(3.00 - 2.50) / 2.50] = 1.36
