Answer:
firms are worried that frequent price changes would annoy consumers.
Explanation:
A price is said to be sticky when there are resistance in market price to change immediately even when changes in the economy of a particular country entails differing price of products is optimal.
In Economics, when there are monetary disturbances and a great level of macroeconomic factors in the economy of a particular country, this usually result in prices of goods and services being sticky.
Hence, prices tend to be sticky because firms are worried that frequent price changes would annoy consumers. This ultimately implies that, price stickiness arises due to the fact that business firm or entity are very much concerned or worried that a frequent change in the price of goods and services would make the consumer annoyed.
Answer: Roughly $110.40
Explanation:
100 x (1.02)^5
The 1.02 is just 100 percent of the number plus the 2 percent interest you make.
Answer and Explanation:
A good number of problems usually arise with outsourcing from outside the country.
1. Different laws and regulations: this is one if not the greatest impediments to outsourcing staff for a business. The legal and tax implications of outsourcing to a different country creates the need to make sure business processes align with the legal frameworks or laws in these regions.
2. Language barriers: this aspect considers the challenges of communication when utilizing BPO services. There is the need for clear communication using US English from the example. Example outsourcing to an Asian country where English is somewhat a rarity.
3. There is also the need for increased data protection, privacy and security measures as there is more exposure to data breaches with this form of outsourcing.
4. However overall outsourcing makes available cheaper labour as well as more competent hands as is this case with US and China
Answer:
True
Explanation:
To understand the new working environment, and the changes in the overall market structure; it is very important to learn new methods and change old habits that is exactly what Lewin change model explains. This model emphasises on the importance of a change as part of a job to cope with the new era of globalisation.
