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Sati [7]
3 years ago
12

You win the million-dollar lottery and decide to quit working. How can you explain this decision using economics

Business
1 answer:
Mademuasel [1]3 years ago
4 0

Answer:

the income effect now groverns your behaviour as you demand more leisure and the opportunity cost of leisure goes down  

Explanation:

  • In economics, the cost of opportunity refers to when one person or business chooses one advantage over another.
  • When a person wins the lottery, the person's income increases. This increase in income motivates the person to choose more leisure at work. This means the person is ready to leave work for leisure. In this way, the potential cost of the holiday is reduced.
  • And with an increase in a person's income, a person's purchasing power improves. Increasing purchasing power means the person seeks more rest. Therefore, choosing to retire at work with an increase in income indicates an income impact. Therefore, if a person decides to quit his job, that person's behavior will be controlled by the income effect.  

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Discuss the principles of management.<br><br><br> Please help
damaskus [11]

The principles of management are scientific principles that enable managers to make organizational decisions, accomplish tasks, and achieve organizational goals.

<h3>What are the principles of management?</h3>

The principles of management enunciated by Henri Fayol enable managers to become efficient and effective include:

  • Division of Work
  • Discipline
  • Unity of Direction
  • Unity of Command
  • Remuneration
  • Scalar Chain
  • Order
  • Equity
  • Initiative
  • Esprit de Corps
  • The Degree of Centralization
  • Authority and Responsibility
  • Subordination of Individual Interest
  • Stability of Tenure of Personnel.

These principles of management provide guidance to managers in their decision-making and management activities.

Thus, the principles of management enable managers to make organizational decisions, accomplish tasks, and achieve organizational goals.

Learn more about principles of management at brainly.com/question/14456974

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8 0
2 years ago
You are the treasurer of Arizona Corp. and must decide how to hedge (if at all) future receivables of 350,000 Australian dollars
Scrat [10]

Answer:

50%

Explanation:

The computation of the probability for put option will be exercised is shown below:

She will exercise at the time when the exercise price i.e $.50 is bigger than the future spot price i.e (20% + 30% = 50%)

So in this case the probability should be 50%

Hence, the correct answer is option c.

All other information which is given is not relevant. Hence, ignored it

7 0
3 years ago
In 2009, an agricultural company introduced a new cropping process which reduced the cost of growing some of its crops. If sales
Natali5045456 [20]

Answer: $90,000

Explanation:

If sales in 2008 and 2009 were steady at $30 million, but the gross margin increased from 2.9% to 3.2% between those years, the amount by which the cost of sales would be reduced would be:

= $30 million × (3.2% - 2.9%)

= $30 nillioy× 0.3%

= $30 million × 0.003

= $90,000

8 0
3 years ago
"There is a growing demand of architects and engineers in developing
max2010maxim [7]

Answer:

yes the developing countries not only Nepal but India also I am in great need of such wonderful master architects and engineers . To develop their country condition they need search architects and engineers for their development

3 0
3 years ago
Marcus is on a team to plan volunteer opportunities for employees in the company. His role is to handle public communications ab
arsen [322]

Answer:

Marcus should control his emotions

Explanation:

It is natural for Marcus to become angry because of Amy's action. Nonetheless, as team member, he will need to control himself, to be effective as such. Lest such furiosity turn out to become a chaos in a work environment and hinder efficiency, consequently frustrating the aim of the team.

4 0
4 years ago
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