Answer:
c) a firm does not have sufficient time to change the level of use some of its inputs.
Explanation:
The definition of short-run in economics is not a term to be used for a specific certain period of time but it means that the period of time is too short that the firms cannot change the level they are using of some of their inputs or costs. It means they do have fixed costs they cannot change. For example, all machinery installed, a yearly rent paid, electricity or others that the firm cannot change unless there is sufficient time. In a short period of time, it will have those costs anyway. The firm cannot change the level of that input. And it is short run of at least one input. It may be many. But it is not necessary to have all inputs unchanged to consider that period of time as short-run.
However, firms can change level of inputs if they have more time. That is cost the long run. All costs are variable costs when we are in long run.
Answer:
Total cash collection= $530,000
Explanation:
Giving the following information:
<u>Sales:</u>
February $500,000
March $400,000
April $600,000
60% of the credit sales are collected in the month of sale, 30% in the month following sale, and 10% in the second month following the sale.
<u>Cash collection April:</u>
Cash collection credit sales from April= (600,000*0.6)= 360,000
Cash collection credit sales from March= (400,000*0.3)= 120,000
Cash collection credit sales from February= (500,000*0.1)= 50,000
Total cash collection= $530,000
Answer:
The options for this question are the following:
a. vestibule training
b. management development programs
c. performance appraisals
d. orientation programs
The correct answer is c. performance appraisals
.
Explanation:
Performance appraisal is a structural and systematic procedure to measure, evaluate and influence attributes (eg cooperation in teamwork and loyalty), behaviors (eg level of assistance and treatment given to clients) and work-related results (eg quantity and quality of the fruits of work), in order to discover to what extent the employee is productive and whether he will be able to improve his future performance. The performance evaluation process plays a monitoring role in order to:
- To provide management with information to make decisions regarding the future development of the employee, by identifying and preparing, through training and improvement programs, the most suitable candidates so that they can assume a greater number of responsibilities.
- Establish the relative value of a subject's contribution to the company and evaluate individual achievements.
- Provide general data on the expected performance of employees.
- Structure the dialogue between superior and subordinate, forcing superiors to improve knowledge of the subordinate's job.
- Be the basis to distribute the remuneration, rewards, bonuses and determine the levels \ salary increases.
