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3 years ago

Explain how growing personal income is related to economic conditions.

Business

1 answer:

NISA [10]3 years ago

7 0

Answer:

see below

Explanation:

Personal income is the total earning an individual gets from wages, investments, bonuses, dividends, profits, or other ventures. It is the sum of a household income. Personal income is calculated per period, usually one year.

Economic conditions refer to the prevailing state of a country or region's economy. Economic conditions are ever-changing and are influenced by business cycles of expansions and contraction, government fiscal and monetary policies, macroeconomic factors, and global factors. Governments and investor use indicators to tell the state of the economy

Economic conditions impact people's and business income. Government policies and global economics influence the level of economic activities. The expansion period has increased economic activities are leading to increased incomes. At contraction, business activities decline, resulting in reduced income.

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In "thinking like an economist," the section "the role of economic theory" states that many economists believe that useful insig

rusak2 [61]

In "thinking like an economist," the section "the role of economic theory" states that many economists believe that useful insights into our behavior can be gained by assuming that we act as if governed by the rules of rational decision-making.

It is possible to define rational decision-making as a decision-making process that incorporates reasoning at every stage. It is founded on the use of impartial knowledge. The first step in making a reasonable decision is to identify the issue that needs to be resolved, followed by the collection of all relevant data.

The next step is to examine every outcome that might result from each potential solution. The decision-making process that follows comprises weighing all viable options and selecting the best one based on reasoning.

Rational decision-making examples include:

● A student chooses what to study in his post-secondary education.

● A commercial choice regarding what to buy for the company.

To know more about decision-making refer to:

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1 year ago

Sebadoah is a barber who does his own accounting for his shop. when he buys supplies he routinely debits supplies expense. sebad

Yakvenalex [24]

Sebadoah should decrease his supply expense to 1,100 for the month of February. The extra $100 is just in case the month of February is busier and he'll have enough to supplies for the demand.

8 0

3 years ago

Among the most effective ways to increase sales of an online service is to offer some form of free trial for users to experiment

Basile [38]

Answer:

Option D

Explanation:

When providing an online service, a company firstly targets to reach the maximum audience. With the increase in reach of audience the chances and feasibility of sales also increases.

But, still there are many customers who desire to have a free trial of service, in order to ensure themselves about the quality and detailed description of service.

In case company agrees to provide free trial, those customers are also satisfied and tend to avail the online service.

Thus, although the sales is directly proportional to the number of visitors, but it would definitely increase by providing the free trial of online service, as ensures more satisfaction in customers.

Final Answer

Option D

7 0

3 years ago

Aldo Redondo drives his own car on company business. His employer reimburses him for such travel at the rate of 36 cents per mil

Tom [10]

Solution and Explanation:

Step 1

Consider the given information:

Reimbursement = 36 cents per mile

Fixed cost per year = $2,052 minus 205200 cents

Direct variable cost = 14.4 cents per mile

Step 2

At the break-even point, total cost becomes equal to the total revenue.

Suppose it takes Q miles for ARto reach break-even.

Step1: Calculate the total cost of AR when the car cover Q miles, as shown below:

Total Cost = Fixed cost + Variable Cost

= 205,200 + 14.4 Q

Step 2 Calculate the total revenue (reimbursement) of AR when the car covers Q miles, as shown below:

Total Revenue = Reimbursement multiply with Total miles

= 36Q

Step 3: Calculate the break-even miles for the car, as shown below:

At break-even, Total cost = Total revenue

205,200 plus 14.4Q = 36Q

36Q minus 14.4Q = 205,200

21.6Q = 205,200

Q = 205,200 divide by 21.6

Q = 9,500 miles

Hence, AR should drive 9,500 miles to break-even.

5 0

3 years ago

Jose wants to upgrade his look before a job interview. A friend tells him about a men's clothing line that allows potential cust

AlladinOne [14]

Answer:

D. Experience

Explanation:

Based on the information provided within the question it can be said that this scenario best describes the 4E framework objective known as experience. This is the objective of helping customers experience the company's product, either directly or indirectly. Which is what the clothing line in this scenario is doing by allowing it's customers to virtually experience the product by seeing how it would look on them through a computer program.

6 0

3 years ago

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