Everyone might not be with you. People might be angry that if you go big you might take over there popularity. As an entrepreneur they needs lots of support and everyone might not be willing to give that support, entrepreneurs always going to have people against them. As an entrepreneur it’s takes lots of time so if you are willing to be one be PATIENT.!
Answer:
1. Neither ; 2. Consumer Surplus ; 3. Producer Surplus
Explanation:
Consumer Surplus is the difference between a good's price paid by consumer, & maximum price the consumer is willing to pay for the good.
Producer Surplus is the difference between a good's price received by a seller, & minimum price at which the seller is willing to sell the good.
1. Willing to pay $209 for watch, buyer willing to sell at $196, no trade as price ceiling at $190 : It illustrates neither concept as transaction has not actually occurred, so no price established.
2. Willing to pay $39 for sweater, purchased it for $32 : It illustrates 'Consumer Surplus' case = $7 , as it shows difference between maximum willingness to pay by buyer ($39) & the actual buy price ($32)
3. Willing to sell laptop at $190, sold it at $199 : It illustrates 'Producer Surplus' case = $9 , as it shows difference between minimum willingness to sell price ($190) & actual sale price ($199)
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Explanation:
- It is a level of goods and services provided by the country in a specific period
- Certain factors associated with the economic growth are
1. Natural resources: Every country must protect their land forms so that the natural resources like oil or mineral can be obtained adequately and thus it can boost the economy of the country
2. Infrastructure: Creating an successful infrastructure make goods and services faster and thus increasing the economic growth.
3. Higher population: There are both advantages and disadvantages. We have high man power and on the other side there might be huge unemployment too.
Culture is closely associated with the branch of economy because it can turn the country upside down. Because, it is the culture which decides the like and unlike of a particular product.
In order to preserve independence, Michael must "Remove himself from the engagement as he considers the offer." (Option B). It is to be noted that this is an internal control problem.
<h3>
What is Independence in this case?</h3>
The absence of situations that jeopardize the internal audit activity's capacity to carry out internal audit tasks objectively is called Independence.
Practically, independence is achieved by ensuring that the internal audit activity has no management control for any of the organization's non-audit functions that are subject to internal audit assessments, and by distancing the internal audit activity's management from the functional oversight of the organization's senior management.
Learn more about internal control:
brainly.com/question/26398073
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Full Question:
Michael was on the ABC Accounting Firm's audit team for the Rasmussen Corporation audit. Rasmussen's officers were so impressed with Michael that they offered him a job as Director of Internal Audit at Rasmussen. What should Michael do in order to preserve independence?
A) Tell his superiors as soon as he has decided whether or not to accept the offer.
B) Remove himself from the engagement as he considers the offer.
C) Pray for divine guidance.
D) If he decides to reject the offer, remove himself permanently from the engagement.
