Answer:
A. wastefulness - production inside PPC ; B. Economy growth - PPC shift outwards/rightwards ; C. Economy at Productive Efficiency - production on PPC ; D. Unattainable Production- Outside PPC
Explanation:
PPC is graphical representation of production combinations that an economy can produce, given resources & technology.
PPC is based on assumption : That resources are best efficiently utilised. So, all product combinations ON PPC reflect 'Economy is at Productive Efficiency'
All production points INSIDE PPC reflect inefficient utilisation of resources i.e 'Wastage'
Points OUTSIDE PPC are 'Unattainable Product Combinations'- as they are beyond economy's best optimum production, given resources & technology.
'Economic growth' is increase in resources &/or technology which increases economy's production potential and PPC curve SHIFTS rightwards or outwards.
To be useful for decision making, information should possess the fundamental qualities of relevance and <u>Faithful representation</u>.
<h3>What is faithful representation?</h3>
Faithful representation can be defined as the financial accounting concept that stated a company financial position which they present should be correct with what the company has as their financial statement.
It is paramount that a company a financial statement is accurate to what they present in the financial statement and should not be compromise.
Therefore To be useful for decision making, information should possess the fundamental qualities of relevance and <u>Faithful representation</u>.
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Answer:
The answers are:
A) 25.23 million people
B) 70.28%
C) 4.92 million people
D) 19.50%
Explanation:
Laborland's total labor force can be calculated by adding those who are employed and those who are unemployed but were searching for a job during the last month.
- 4.6 million (part-time employed) + 15.71 million (full-time employed) + 3.2 million (looked for a job two weeks ago) + 1.72 million (looked for a job between two and four weeks ago) = 25.23 million people
Laborland's labor force participation rate can be calculated by dividing the labor force by the total population.
- (25.23 million / 35.9 million) x 100% = 70.28%
Laborland's total unemployed can be calculated by adding the number of people without a job that searched for a job during the last month.
- 3.2 million + 1.72 million = 4.92 million people
Laborland's unemployment rate can be calculated by dividing the total number of unemployed people by the total work force.
- (4.92 million / 25.23 million) x 100% = 19.50%
In the airline industry, the exit barrier of offering international routes restricts movement between hub-and-spoke and point-to-point airlines.
<h3>What is the exit barrier?</h3>
This is the term that is used to describe all of the challenges and the impending difficulties that may prevent a company from exiting a market.
This question tells us that it is a barrier of exit and restriction of movement between hub-and-spoke and point-to-point airlines.
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Answer:
It is an attempt to extend product life cycle by finding new users.
Explanation:
Zara Inc., a well-known cosmetics manufacturer, introduced its anti-wrinkle cream in the Asian market after its sales in the European market leveled out due to stiff competition from rival products.
The company had to change its selling place because the competition in the European market was too much.
So the company was out looking for new users by introducing its products in the Asian market.
Hence the correct answer is it is an attempt to extend product life cycle by finding new users.
