Andrew writes a check for $1,299 which is the medium of exchange.
What is the way of transaction ?
- A sale is a completed agreement between a buyer and a dealer to change goods, services, or fiscal means in return for plutocrats.
- The term is also generally used in commercial accounts. As a business secretary, this plain description can get tricky.
- A sale may be recorded by a company before or later depending on whether it uses an addendum account or cash account.
Here,
Andrew can easily determine that the price of the computer is more than the price of the vacation = Unit of Account
Andrew has $1,574 in his checking account
= Store of value
Andrew writes a check for $1,299
= Medium of exchange
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Answer:
Price Floor led Excess Supply can be solved by : Preserving goods Buffer Stock ; or processing goods to increase their shelf life (in case of perishable goods like Milk)
Explanation:
Unregulated markets are at equilibrium where : market demand , market supply are equal ; and downward sloping demand curve , upward sloping supply curve intersect.
Price Floor is minimum mandated price set by government, below which a good can't be sold in the market. It is usually set above equilibrium price, to protect interest of sellers. Example : Minimum Support Price as minimum agricultural goods price to protect interest of farmers, Given Milk Price floor case.
Price Floor creates artificially higher prices ; so increases supply, decreases supply & hence creates Excess Supply. Government can solve this excess supply by preserving stock supply for contingent times , eg - maintaining buffer stock. If the good is of perishable nature, as given milk case : it should be processed further to increase its shelf life, eg - cheese, such that the stock supply can be released at a slower pace.
Answer:
Which marketing management philosophy focuses on the question, "What do customers want and need?" -do research on its customers, competitors, and markets. -establish and maintain mutually satisfying relationships with customers.
Answer:
d.thank the members of the orchestra and give them credit for their hard work.
Explanation:
As in the given scenario, David is helping the orchestra improve on a daily basis and helping them attain their full potential which results in achieving their shared goals.
As leader of Level 5, David will thank the leaders of the orchestra and give them credit for their hard work as it is a team effort through which objectives and goals can be attained. It is a group success, not an individual success, plus it ignores the behavior of ego and attitude so that they can do their utmost for the organization
Answer:
a) 0.10 or 10%
b) 0.5417 or 54.17%
Explanation:
a) The median income of $60,000 is at the 50th percentile of the distribution. If 40% if incomes are above $72,000, then an income of $72,000 is at the 60th percentile of the distribution. Therefore, the probability that a family's income will be between $60,000 and $72,000 is:
b) If the distribution is known to be uniform, the probability that a random chosen family has an income below $65,000 is:
