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VARVARA [1.3K]
3 years ago
11

Explain why the assumption of cardinal utility is not needed in order to rank consumer choices. Cardinal utility is not needed i

n order to rank consumer choices because economists
Business
1 answer:
worty [1.4K]3 years ago
6 0

Answer:

"Cardinal utility is not needed in order to rank consumer choices because economists can instead use ordinal utility to show how consumers rank different baskets". However, it is important to note that while ordinal utility can provide us with the information about a customer ranking in different baskets, it does not show the extent or by how much

Explanation:

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Because there are some positive aspects of bureaucracy, as proposed by Max Weber, Tammy, a restaurant manager, is interested in
dexar [7]

Answer:D) Rational, efficient, ideal organization based on principles of logic.

Explanation:Max Weber was a modern twentieth century Sociologist who proposed the Bereaucracy theory, according to Max Weber, Bereaucracy is the basis for the systematic formation of an organisation and Bereaucracy is designed to ensure efficiency and economic effectiveness is achieved. According to Max Weber, Bereaucracy is an ideal model for management and its administration to bring an organisation's power structure into focus when executing jobs or activities.

Like Max Weber, Tammy shares the same view that Bereaucracy is a Rational, efficient, ideal organization based on principles of logic.

7 0
3 years ago
1. ______control environment risk assessment control procedures monitoring information and communication.2. ______provides reaso
Yuki888 [10]

Answer:

  1. Five internal controls
  2. Control procedures.
  3. Risk Assestment.
  4. Information and communication.
  5. Monitoring.
  6. Control environment.

Explanation:

1. <u>Five internal</u> control environment risk assessment control procedures monitoring information and communication.2. <u>Control procedures</u> provides reasonable assurance that business goals will be achieved.3. <u>Risk assessment</u> identify, analyze and assess likeliness of vulnerabilities.4. <u>Information and communication</u> used by management for guiding operations and ensuring compliance with requirements.5. <u>Monitoring</u> used to locate weaknesses and improve controls.6. <u>Control environment</u> overall attitude of management and employees

There are five internal control management that help in controling and managing overall work environment.

4 0
3 years ago
Why is there a time value of money (cash received today is valued more than cash received a year fromnow)?a. Interest rates are
Simora [160]

Answer:

<u>A and B are correct</u>

Explanation :

  • The TVM concept is based on the value of money which is today may change with time as a rise or fall in prices thus this explains why the interest rates are paid and calculated on the basis of the present values that may change such as future sum of money of cash flows, can get discontinued at the discounted rates.
  • Future values can be ascertained based on the present value of the product/assert. Thus the interest rates and inflation rates change as the risks and the consumer's needs will always be present and have existed earlier.
  • It's calculated by the present value and future value of money multiplied by the interest rate and the total number of years. I.e
  • FV = PV x [ 1 + (i / n) ] (n x t)
7 0
3 years ago
A marine biologist is planning to move from Sydney, Australia to San Francisco. She has $5,000 Australian dollars (AUD) to make
natita [175]

Answer:

Now, if takes 0.765 USD to be equal 1 AUD. when the dollar increases, it will take fewer dollars to equal 1 AUD. for instance, it takes 0.5 dollars per 1 AUD. The conversion will change to:5,000 AUD * (0.5 USD/AUD)

5,000 * 0.5

= $2,500

so, her AUD will be worth more now.

Explanation:

Solution

Given that:

Her present  $5,000 AUD is worth $3,825 USD.

Then

5,000 AUD * (0.765 USD/AUD)

5,000 * 0.765

= $3,825

So,

If the USD dollar increases against the AUD, then, the ratio will reduce.

For example, it takes 0.765 USD to be equal 1 AUD. when the dollar increases, it will take fewer dollars to equal 1 AUD. for instance, it takes 0.5 dollars per 1 AUD. The conversion will change to:

5,000 AUD * (0.5 USD/AUD)

5,000 * 0.5

= $2,500

Therefore, her AUD will be worth more now.

6 0
3 years ago
Devon forgets to pay his credit card bill for three months. Which of the following statements is TRUE?
Arturiano [62]
Where’s the statement?
6 0
3 years ago
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