Answer:
selective exposure
Explanation:
A preference of individuals both intentionally and unknowingly to search out material that supports their current frames of mind and feelings and to effectively maintain a strategic distance from material that worries their views. Observers may look for consistency with their emotions, including any part of their personality. A few analysts have contended that people individually screen out data to maintain a strategic distance from intellectual conflict.
In international banking, a letter of credit is a promise by a bank to pay the seller a given amount if certain conditions are met.
How Does a Letter of Credit Work?
A letter of credit is frequently used in international trade to guarantee that a payment will be made to the seller promptly and in full, as guaranteed by a bank or other financial institution. In addition to requesting security from the buyer, the bank will charge a fee after providing a letter of credit, which is ordinarily a percentage of the letter of credit. Revolving, commercial, and confirmed letters of credit are a few examples of the different kinds of letters of credit.
What is the disadvantage of a letter of credit?
Inordinately costly, time-consuming, and laborious in terms of working capital and credit line usage. To satisfy the bank's coverage requirements for the buyer, additional security and collateral are required. Lengthy and time-consuming claims process that requires the seller to submit extra documents.
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Answer:
Inventories refer to goods that have been produced but not yet sold.
Explanation:
Inventories or Stock refer to goods that have been produced but not yet sold. It also means goods that have been purchased by the company with the intention of selling them for profit. Once goods are sold, they are erased from the inventory records and transferred to the sales accounts, and only 'goods available for sale' will primarily classify as inventory.
Furthermore, there is also 'raw material inventory' which is the goods that have been bought to be used in production.
Answer:
The absolute value of the elasticity of demand = 2.664.
Explanation:
a) Data and Calculations:
Change in price = $1 increase ($8 - $9)
Percentage of change in price = $1/$8 = 0.125
Change in quantity demand = 1 decrease (3 - 2)
Percentage of change in quantity demanded = 1/3 = 0.333
Price elasticity of demand = Percentage change in demand/Percentage change in price
= 0.333/0.125 = 2.664
b) Since the absolute value is more than 1, the elasticity of demand is price elastic. A change in price causes a greater change in the quantity demanded.