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3 years ago

This assignment is based on Chapter 5, Section 3. Please refer back to the text, as well as our last assignment

Business

1 answer:

svet-max [94.6K]3 years ago

8 0

Explanation:

Section 3. Please refer back to the text, as well as our last assignment

on the demand shifters, if you are stuck or confused.

Instructions:

Come up with an example for each of the demand shifters:

1. Changes in income

2. Changes in the number of consumers

3. Changes in consumer tastes and preferences

4. Changes in consumer expectations

5. Changes in the price of substitute goods

6. Changes in the price of complementary goods

For each example:

• Choose a good or a service

• Write a headline or tell me a story (like our last assignment

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Which is NOT a requirement for consideration?

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Answer: B. Intent to contact

Explanation: answer on Edg. 2021

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3 years ago

A validation check used to determine if a quantity ordered field contains only numbers is an example of a(n)

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Here are the answers of the given questions above.
1. The correct answer would be option A. Input control. <span>A validation check used to determine if a quantity ordered field contains only numbers is an example of an input control.
2. The correct answer would be the option A. Batch control totals. Batch control totals </span><span>would assist in detecting an error when the data input clerk records a sales invoice as $12.99 when the actual amount is $122.99.
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3 years ago

Pharoah Industries collected $106,000 from customers in 2019. Of the amount collected, $24,200 was for services performed in 201

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Answer:

A. $33,200

B. $35,000

Explanation:

A. Computation for 2018 cash-basis net income

2018 cash-basis net income = $106,000 - $73,800

2018 cash-basis net income= $33,200

Therefore 2018 cash-basis net income is $33,200

(b) Computation for 2018 accrual-basis net income

2018 accrual-basis net income = ($106,000 - $24,200 + $39,400) - ( $73,800 - $29,100 + $41,500))

2018 accrual-basis net income= $121,200 - $86,200

2018 accrual-basis net income= $35,000

Therefore 2018 accrual-basis net income is $35,000

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3 years ago

Elvis values the first gravy sandwich at $5, the second at $4.50, and the third at $4. If he buys three sandwiches for $4 each,

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Answer:

Consumer Surplus = $1.50

Explanation:

Consumer surplus is the difference between what a consumer is willing to pay for a given amount of goods or services and what he ends up paying.

Therefore,

Consumer surplus = Amount consumer is willing to pay less amount paid

Given that

Elvis is willing to pay 5 + 4 + 4.50 = 13.50 for three

Price of 3 sandwich = 3 × 4 = 12

Consumer surplus = 13.50 - 12

= $1.50

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3 years ago

If a firm collects $80 in revenue when it sells 4 units, $100 in revenue when it sells 5 units, and $120 in revenue when it sell

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If a firm collects $80 in revenue when it sells 4 units, $100 in revenue when it sells 5 units, and $120 in revenue when it sells 6 units, then one can infer the firm is a perfect competitor.

Turnover is the total amount of revenue generated from the sale of goods or services related to the company's main activities. Earnings, also known as gross earnings, are often referred to as the "top line" because they are at the top of the income statement. Income or Net Profit is the gross profit or profit of a business.

Simply put, revenue is how much money a company makes and profit is how much money a company can keep after paying all its expenses. Here's another example that clarifies where sales and profit are on the income statement. The black box at the top shows the gross or gross sales.

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2 years ago