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3 years ago

Which of the following best describes an opportunity cost:

Business

1 answer:

MissTica3 years ago

3 0

Answer:

The answer is A.

Explanation:

Opportunity cost is the cost of an action that was not chosen or selected. It is also the cost of alternative forgone. For example, Mr A has two choices - taking employment of $20,000 per annum or being self-employed (setting up a farm that will generate $25,000 per annum). He decides to go for farming. The opportunity cost here is the cost of taking the employment ($20,000).

Opportunity cost is relevant in decision making. Companies use opportunity cost when making strategic or tactical decisions. There must be an alternative to every decision which must be considered before making a decision.

Though opportunity cost is a relevant cost but it is never shown on financial statement. It is never part of financial records.

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Identify the guideline that should be followed by a supervisor to discourage unions.

Mekhanik [1.2K]

A supervisor can take many steps when it comes to handling unions within the company. First that should be taken into consideration is, the supervisor’s communication to his/ her people. The people should know that the supervisor is always available when they need to talk about the policies of the company and why there is no necessity to have a third party. The employees should also have the knowledge on what is going on inside the business. They should always be informed about the standing of the company in the market. Another is, there should also be an outlet where the employees can air out their concerns thus the supervisor should also provide these outlets. Another concern that should be addressed properly is the fairness of the pay. This means that the principle of paying the employees must be put into mind; this is that they are paid according to the work that they do and second is let the employee know that they are paid fairly. Do this by market surveying the wages every year. Be honest to the employees by letting them know the economic standing of the company. They will surely understand the situation. The company must also remember the employees who stood by them during the hard times by giving them fair returns when the company is already in a good standing. Next is, when you see that an employee is making good performance, companies must also do their responsibility by acknowledging the efforts and giving incentives for their good performance.

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3 years ago

When a US company purchases and imports wood from Brazil to use to build new houses, within the United States, this purchase inc

Mariana [72]

Answer:

The correct answer is 2. No overall change.

Explanation:

The aggregate demand is the total goods and services demanded by a country, at a certain price level, in a certain period of time.

The aggregate demand that can be accounted for measures exactly the same as GDP. So they are often used as synonyms.

To calculate aggregate demand, the same methods as for calculating GDP can be used, however, aggregate demand is associated with expenditure, so it is calculated by the product method, that is, from the point of view of what society has spent. This calculation takes into account the expenditure of families (private individuals), what has been spent on investment, the cost of public administrations, and finally, net exports, which is the difference between imports and exports In this way, the Aggregate Demand formula would look like this:

DA = C + I + G + (X-M)

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3 years ago

Alana lives in a country in which the government does not impose quotas on what can be imported or on what businesses can produc

Elis [28]

Answer:

Free-market

Explanation:

As Alana can import without paying quotas to the government the economy i nthis country is of free-market. The government doesn't try to restrict their citizens from the goods and services offered fro manother countries.

Same is true for the sale of national product to abroa,there is no qupta, tariff or additional cost involved in trade thant those generated from the transactions. It is tax-free to import and export

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3 years ago

Marietta works in a production department alongside six other workers who do the same type of work. Each works independently but

marissa [1.9K]

Marietta is a part of A WORK GROUP.
The correct option is B.
A work group is made up of members, who can represent one unit or department and these members work independently but at the end of the day they pool their outputs together. The characteristic feature of work groups include the following: individual accountability, focus is on individual goals, production of individual work product, defined individual roles, tasks and responsibilities, etc.

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3 years ago

Consider two of the income security programs in the United States: Temporary Assistance for Needy Families (TANF) and the Earned

Harrizon [31]

Answer:

a. When a woman with children and very low income earns an extra dollar, she receives less in TANF benefits. This feature of TANF will cause the labor supply of low-income women to be LOWER. One of the most important characteristics of TANF is that as the beneficiary starts to earn money, they start losing benefits. The more money they earn, the less benefits they receive.

b. The EITC provides greater benefits as low-income workers earn more income (up to a point).

True

This feature of EITC will decrease the labor supply of low-income workers. b. False

Earned income tax credit (EITC) is a refundable tax credit aimed at low income workers (and low middle income workers) with children. The tax credit received by the beneficiaries of this program depend on their income levels and number of children. E.g. during 2020, the EITC for joint filers earning up to $52,493 and having 2 children is $5,828. This program increases the labor supply of low income workers, it doesn't decrease it. If you do not work, you do not receive EITC.

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3 years ago