In competitive market equilibrium, the allocation of the social surplus is such that no individual can be made better off without making someone else worse off.
The phrase "competition equilibrium" refers to an equilibrium condition when the firm's goal of maximising profits and the customers' goal of maximising utility both aspire to reach an equilibrium price as a result of freely determined prices.
According to the theory of competitive equilibrium, the firm's supply of the product is equal to the market's demand for that same amount of the product. It is a circumstance in which neither the buyer nor the seller can strengthen their bargaining position with regard to the goods being sold.
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By definition, empirical probability is equal to C. Number of successful trials/Total number of trials.
<h3>What is an empirical probability?</h3>
It should be noted that empirical probability simply means a experimental probability that is based on historical data.
In this case, by definition, empirical probability is equal to the number of successful trials divided by the total number of trials.
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Answer:
Subtracting the base period amount from the analysis period amount, dividing the result by the base period amount, and then multiplying that amount by 100.
Explanation:
Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP) and financial accounting standards board (FASB). It can be defined as the field of accounting involving specific processes such as recording, summarizing, analysis and reporting of financial transactions with respect to business operations over a specific period of time. Financial experts or accountant uses either the cash basis or accrual basis of accounting.
There are two (2) main methods used in financial accounting for analyzing financial statements and these are;
I. Vertical analysis.
II. Horizontal analysis.
Horizontal analysis compares historical financial informations over a number of reporting periods.
In horizontal analysis the percent change is computed by subtracting the base period amount from the analysis period amount, dividing the result by the base period amount, and then multiplying that amount by 100.
The correct answer is B) traditional.
Aflak Corporation, an Omani firm, is currently planning goods market in India. Aflak Corporation will most likely discover that traditional beliefs and values are more open to change in India.
When a multinational company is planning on initiating operations in another country, it has to be very sensible of the traditional values of that country. The company is getting into a new market and people could have different belief systems, different culture, traditions, and customs, that need to be carefully assessed by the multinational company if they are about to be successful in the new country.
This is the case of India, which has always have very strict traditional values, although younger generations are relaxing those values in recent years.
