Answer:
Boxes of staples (maximum) that can be purchased by available income are 5.
Maximum boxes of paper clips that can be purchased by available income are 10.
Explanation:
Budget Line is the graphical representation of product combinations, that consumer can purchase with prices & income (spending all income).
It is downward sloping - as given same income & price levels, one good's consumption can be increased by reducing consumption of other good.
The intercept of downward sloping budget line is the maximum amount of that axis good which that consumer can consume with given income, price.
That maximum amount of purchasable good is Income/price of that good. Eg: Income = 100, Price of Good 1 on X axis = 10, Price of Good 2 on Y axis = 5. So :
- Maximum amount of good 1 purchasable = 100/10 = 10. It is on X axis, x axis intercept is (10,0) ; and
- Maximum amount of good 2 purchasable = 100/5 = 20. It is on Y axis, y axis intercept is (0,5)
Good 1 & Good 2 are analogous to Staples & Paper Clips respectively.
Answer:
The phrase walk the talk means To perform actions consistent with one's claims
In this case the answer is (C) that management lives the ethical standards established in the code of ethics as the management has to follow the ethical standards it set for itself.
Explanation:
Answer:
Sole Proprietorship
Explanation:
Charles is planning to start a sole proprietorship business. It is the most common form of business ownership.
This is the form of business owned, managed and operated by a single individual. Here, there is no distinction between the business and the owner. The owner of the business will have total control of all the profits incurred in the business and solely be responsible for all losses incurred as well.
Answer:For example, the Ricardian model of trade, which incorporates differences in technologies between countries, concludes that everyone benefits from trade, whereas the Heckscher-Ohlin model, which incorporates endowment differences, concludes that there will be winners and losers from trade.
