A risk management differs from quality management because the risk management identifies areas of operational and financial loss.
<h3>What is a
risk management?</h3>
This refers to the layer of protection at the beginning of the process to identify hazards before production even begins.
<h3>What is
quality management?</h3>
This is the section involved in overseeing all activities that must be accomplished to maintain a desired level of excellence in a firm.
In conclusion, the risk management differs from quality management because the risk management identifies areas of operational and financial loss.
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If the going rate of interest were 10 percent and the expected profit rate were 18 percent, then the opportunity cost of a firm carrying out a $100,000 project for one year with its own funds would be$10,000.
SO
$100,000/10 =$10,000
Opportunity cost is the advantage that was lost because a particular option was not selected.
It is necessary to weigh the advantages and disadvantages of each choice offered in order to correctly assess opportunity costs.
Opportunity costs have a value that can help people and businesses make more lucrative decisions.
Opportunity cost is a wholly internal expense that is only utilized for strategic consideration; it is not included in accounting profit and is not reported externally.
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Answer: D. flat, because firms are reluctant to give their current workers raises when output is so low
Explanation:
When low levels of output are being produced, the supply curve will be flatter to show that goods are not too highly priced. This is because the goods are not costing as much to make because producers are unwilling to increase the wages of their current workers with such low output. Labor costs will therefore be kept below a certain level which will keep prices low.
Answer:
A budget constraint is the amount of goods and service that a person or firm can purchase given their income.
In this case, the budget constraint of Sam and Amanda is determined by their income: that is to say, their monthly grocery budget, which is $100 per month.
Because a dozen organic egg costs $5, and a frozen pizza costs $10, if we suppose that Sam Amanda will spend half their income on each item, their budget constraint will allow them to buy the following amounts:
$50 / $5 = 10 dozen organic eggs
$50 / $10 = 5 frozen pizzas.
Third-party check. check negotiated through a bank, except one payable to the writer of the check, that is, a check written for cash. The primary party to a transaction is the bank on which a check is drawn. The secondary party is the drawer of the check against funds on deposit in the bank.