Which career is likely to earn highest salary

Smith plumbing supply has completed a swot analysis. the company is in a good position financially and has decided to use some o

Oliga [24]

<span>This is a growth strategy. The company, since it is in a good financial position, does not need to take a stability track to maintain its standing. Taking advantage of the opportunities they have found will give Smith Plumbing the ability to grow and become a more profitable business.</span>

5 0

3 years ago

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Business Communication

atroni [7]

Answer and Explanation:

It is good to respond to These congratulatory notes or Pat's at the back because are attempts made by others to connect with you personally; people reach out to you through these efforts and professional or personal bonds can be formed because of these.

How should you respond?

You can respond by showing gratitude or by being appreciative of the gestures. You can say you are grateful for the kindness you received regarding your award.

7 0

3 years ago

Lawrence is a photographer. He has $230 to spend and wants to buy either a flash for his camera or a new tripod. Both the flash

Mandarinka [93]

Answer:

This illustrates the principle that;

c.people face trade-offs.

Explanation:

Commercial transaction especially in business involve various situations that can mirror underlying economic principals, An example of the many economic principals is trade-off. This principal is explained in detail below;

1. Trade-off

A trade-off is a compromise between two desirable products that are incompatible. A trade-off usually involves the foregoing of one choice for the other, it usually involves the sacrifice of one of two products which have the same qualities but one only limited to picking one choice. A trade-off usually happens in business dealings. An example is a situation where one needs to purchase two items that have the same cost and the amount of money the buyer wants to buy can only be enough for one of the products. In this case, the buyer will have to sacrifice one product for the other based on the prevailing financial status limiting him/her from purchasing both of them.

Lawrence's case is a classic trade-off scenario since he is torn between buying a flash for his camera or a new tripod. He needs both of them with equal measure but he can only afford one at a time. This means that he will have to choose one over the other, a principle known as a trade-off.

7 0

3 years ago

You are considering purchasing a car, and you are offered a loan with a nominal interest rate of 5 %. Assume inflation is expect

Gnoma [55]

The real interest rate is;

Real interest rate = nominal interest rate - inflation

<h3>What is inflation?</h3>

The rate at which prices increase over a specific time period is known as inflation. Inflation is often measured in broad terms, such as the general rise in prices or the rise in a nation's cost of living.

There are three main causes of inflation:

demand-pull inflation: Demand-pull inflation, which economists define as "too many dollars chasing too few things," is the increasing pressure on prices that accompanies a scarcity in supply.
cost-push inflation: When the cost of labor and raw materials rise, the overall price level will rise (inflation).
built-in inflation: As employees anticipate an increase in compensation when the cost of products and services rises in order to maintain their standard of living, this is known as built-in inflation.

<h3>What is real interest rate?</h3>

A real interest rate reflects the rate at which current things are preferred over future goods over time.

The difference between the nominal interest rate and the inflation rate is used to calculate the real interest rate for an investment.

Real interest rate = nominal interest rate - rate of inflation (expected or actual).

To know more about the inflation, here

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7 0

2 years ago

Sally has a pizza restaurant and sells 30 pizzas for $5 each. Jim has a pizza restaurant around the corner from Sally, and he se

Rom4ik [11]

Answer:

ELASTIC

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price

Sally

percentage change in quantity demanded : (60/30) - 1 = 1

percentage change in price : (3/5) - 1 = -0.4

Price elasticity = 1 / -0.4 = 2.5

Jim

percentage change in quantity demanded : (40/30) - 1 = 0.33

percentage change in price : (3/5) - 1 = -0.4

Price elasticity = 0.33 / -0.4 = 0.83

Sally's demand is elastic while Jims' is inelastic

If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.

Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one

Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.

Infinitely elastic demand is perfectly elastic demand. Demand falls to zero when price increases

Perfectly inelastic demand is demand where there is no change in the quantity demanded regardless of changes in price.

3 0

3 years ago