Answer:
Urgency / Postponement leads to customer inelastic demand of ice melt.
Explanation:
Elasticity of demand is responsive change in demand of good, due to change in price. Formula = % change in demand / % change in price
Factors Affecting Price Elasticity of Demand : Nature of commodity, Income, substitutes availability, time period, urgency / postponement, share in total expenditure,
Inelastic Demand is when demand responds proportionately less to price change. % change in demand < % change in price
Case 'Customer critically needs ice melt to drive to work' : This has inelastic demand i.e demand less respondent to price changes (he will buy that at high price too). Such because of the urgency of this demand & less scope of its postponement.
Answer: True
Explanation: According to Rey Pfeffer and Robert Sutton, they both advocated that companies can bolster performance and trump the competition through evidence-based management, an approach to decision making and action that is driven by hard facts rather than half-truths, too much ride on gut instinct or intuition, acting without questioning, beliefs, ideologies, and popular fashions of management practices
listed below are the financial and organizational impact on business and how to overcome barriers to evidence-based management in various organizations:
1. Work is fundamentally different than the rest of life
2. The best organizations have the best people
3. Financial incentives drive company performance
4. Strategy is destiny and great leaders are in control of their companies
Answer:
- Effect of inflationary flashpoint : Economic policies become tightened
- At the point where Unemployment is lowest in the Philips curve represents The flashpoint in Philips curve
Explanation:
Inflationary flashpoints are the points where the aggregate supply curve experiences a very rapid/sharp increase
The Inflationary Flashpoint can affect policy decisions in ways that it will lead to an increase in unemployment caused by the increase in Inflation, and this will cause the economic policies to become tightened in order to curb the effects of Inflationary flashpoints
The Inflationary flashpoint is represented in the Philips Curve ( relationship between the inflation and unemployment rate ) at the point where Unemployment is lowest in the curve
Answer: The three main types of unemployment are cyclical, frictional and structural unemployment. B
Explanation:
B. Cyclical and frictional are both related as they tend to cause more hardship because of its severity.
There is some information in the table that is not needed in this problem. To find real per capita GDP in 1933 measured in 2008 prices, just multiply Nominal per capita GDP in 1933 by how many times expensive the prices are in 2008 than they were in 1933. The solution is $444 x 14 = $6,216. So, the answer is $6,216.
