The ability to forecast cause and effect is crucial for a solid economic model since it enables it to both explain past events and foresee potential future ones.
A model of the economy's importance
Its main goal is to describe and examine the prices and volume sold in a market that is competitive. In relation to price and other factors, the equations of the model define the level of supply and demand (for example, income).
What conclusions do economic models draw?
A simplified representation of reality, an economic model enables us to observe, comprehend, and forecast economic phenomena. A model's goal is to simplify a complex, real-world scenario so that only the most important elements remain.
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The conduct code or a manual basically has to define the ways in which people must act in the company.
Explanation:
Every company has a set of standards and how the work culture exists in their company.
This is often a direct inference of the practices of their company in the market and what their place is according to it.
It also depends on what industry the company is a part of.
Thus, the manual makes sure there is a directive way of understanding the rules of conduct of every worker within a company and even for the managers and executive there exists this way of understanding what it is about.
<span>Rusty is a project manager who has 15 employees reporting directly to him. those 15 employees are rusty's </span>unity of command
That statement is false.
WHAT ARE "OPERATING ASSETS"?
Operating assets are assets acquired for use of the ongoing operations of a business.
OPERATING ASSETS INCLUDE:
Inventory, accounts receivable, & fixed assets.
WHY IS IT FALSE?
This statement would've been correct up until this point: "but not any depreciable fixed assets."
People do have preference. Routine response behavior is the marketing term for this type of consumer behavior.
<h3>What is consumer behavior?</h3>
Consumer behavior is known to be the study of how people, customers, groups, etc., often select, buy, or use goods, and services to answer to their needs and wants.
Routine Response is also known as Programmed Behavior. Here one is buying low cost items and as such one do not need much search and decision effort.
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