Answer: Knowledge management
Explanation: Knowledge management approach focuses on making best use of the knowledge with the intent of achieving organisational objectives. It involves discovering, sharing and harnessing of the intellectual resources that a company holds.
Knowledge management brings improved performance, innovation and competitive advantage to the organisation.
Answer:
The accounting profit is $30,000.
Explanation:
The implicit cost of running the restaurant is the opportunity cost of giving up a salary of $40,000 per year working as a chef.
The revenue earned from the restaurant is $100,000.
The explicit costs is
= $50,000 + $20,000
= $70,000
An accountant will consider only the accounting cost or explicit cost in the calculation of profits.
Accounting profit
= Total revenue - Explicit costs
= $100,000 - $70,000
= $30,000
Answer:
revenue tariff
Explanation:
A revenue tariff is a tax levied on imported goods or services whose main purpose is to increase government revenue. It differs from other types of tariffs whose goal is to protect domestic products. E.g. a flat tariff levied on all types of imported goods.
Answer:
This means that Kimberlei's GDP is <em><u> less sensitive than </u></em> Clarkistan's GDP to fluctuations in the components of total spending.
Clarkistan's economy is <em><u>more </u></em>sensitive to fluctuations in GDP than Kimberlei's economy. This is because the personal income tax has <em><u> reduced </u></em> Kimerlei's multiplier.
Explanation:
As Kimberlei multiplier is lower, the government spending fluctuation will have a lower impact than in Clarkistan as the goverment spending multiplier in the latter is higher thus, a fluctuation increases or decrease the GDP in a higher proportion.
Clarkistan Economy is more sensitive as their government has a higher multiplier when it decreases for recessions it will increase by a higher amount
while Kimberlei as the income tax decreases th effect of the multiplier It is lower. thus the change in GDP is also lower
