Answer:
If a decrease in income increase the demand for a good , the good is an inferior good.
An inferior good is a good whose demand falls when income rises and rises when income falls.
Inferior goods have an indirect relationship with income
A normal good is a good whose demand rises when income increases and falls when income falls.
Normal goods have a direct relationship with income.
A substitute good is a good that can be used in place of another good. For example if good A and B are substitutes, if the price of good A increases, it would become more expensive for consumers and consumers would shift to consuming good B. As a result the demand for good B would rise and the quantity demanded of good A would fall.
Complements are goods that are used together. If the price of one of the goods increases, the demand for the other good falls and vice versa.
For example, gasoline and car are complements. If the price of cars fall, people would increase their demand for cars and as result the demand for gasoline would increase.
I hope my answer helps you
Explanation:
Explanation:
The basic principle for the risk management are as follows -
1. Do not accept unnecessary risk - unnecessary risk comes without commensurate benefits. Only absolutely necessary while Missions must be undertaken while exposing personnel and resources to the lowest possible risk.
2. Make decisions at appropriate levels to establish clear accountability, which means those responsible for success or failure must be involved in the risk decision making.
3. Accept risks when benefits outweigh the costs.
4. Integrate operational risk management (ORM) into operations and planning at all levels.
Answer:
The aftertax salvage value of the equipment is $302,964
Explanation:
In order to calculate the aftertax salvage value of the equipment, first we would need to calculate the Book value of the equipment after 4 years as follows:
Book value of the equipment after 4 years = Purchase price *(1-depreciation rate each year)
= $2,000,000*(1-0.2-0.32-0.192-0.1152)
=$345,600
Loss on sale = $281,000-345,600
= 64600
Tax benefit on loss = $64,600*34% = $21,964
Therefore, After tax salvage value = selling price + tax benefit
= $281,000 + $21,964
=$302,964
The aftertax salvage value of the equipment is $302,964
Answer:
honesty, responsibility, respect and fairness.
Explanation:
Project management can be defined as a strategic process which typically involves planning, execution and completion of a project at a specific period of time, through the use of knowledge, skills and experience.
In project management, an important factor that plays a significant role in the daily behavior and interaction between all project managers and their client is ethics.
Hence, project Management Institute (PMI) members have determined that honesty, responsibility, respect and fairness are the values that drive ethical conduct for the project management profession.
<em>Generally, all parties such as clients, employees, taxpayers, stakeholders and vendors have rest of mind as a result of the code of ethics (honesty, responsibility, respect and fairness) that are binding on project management professionals</em>.
