The term <u>price taker</u> refers to a firm operating in a perfectly competitive market that must take the prevailing market price for its product. Read below about a perfectly competitive market.
<h3>What is a perfectly competitive market?</h3>
In economics, a perfect market is also known as an atomistic market. A effect competition is defined by several idealizing conditions, collectively called perfect competition, or atomistic competition.
Therefore, in such a market the price taker must take the prevailing market price its product.
learn more about price taker: brainly.com/question/15416827
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Assuming that you wanted to know how to journal this, it would be :
Dec. 31
Debit Credit
Income Summary $ 188,000
Retained Earning $ 188,000
Answer:
3. How does the action I am proposing to take make me feel about myself?
Explanation:
According to Norman Vincent Peale, the following questions should be asked by Jake as he proceeds to make an ethical decision: How does the action I am proposing to take make me feel about myself?
According to Kenneth Blanchard and Norman Vincent Peale, authors of The Power of Ethical Management, there are three questions you should ask yourself whenever you are faced with an ethical dilemma:
1. Is it legal? Will I be violating civil law or company policy? Will I be violating the student code of conduct?
2. Is it balanced? Is it fair to all parties concerned both in the short-term as well as the longterm? Does it promote win-win relationships?
<u>3. How will it make me feel about myself? Will it make me proud? Would I feel good if my decision was published in the newspaper? Would I feel good if my family knew about it?
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Answer:
False
Explanation:
A defined benefit pension plan is a type of pension plan where the employer gives a promise with respect to the particular pension payment that could be lumpsum for the retirement basis
Since in the question it is mentioned that the companies would not continue with the defined benefit plan and they move to the defined-contribution plans that save for the retirement so that it would create the more responsibility over the company due to this they would provide the retirement benefit but this statement is false as it is better to received the lumpsum amount
Answer: A: the time required for monetary policies to take effect
Explanation:
The impact lag also known as the response lag is the time it takes for corrective monetary and fiscal policies, designed to smooth out the economic cycle or respond to an adverse economic event, to affect the economy once they have been implemented.
For instance, during the last recession, several policies were introduced by the government to manage the situation . The time it takes for the citizens to feel the impact of these policies is known as the impact lag phase.
