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Norma-Jean [14]
3 years ago
13

A pretzel-stand owner in Chicago hires workers to make hot pretzels and sell them to customers. If the firm is competitive in bo

th the market for pretzels and in the market for pretzel-makers, then it hasA. no control over the price of pretzels but some control over the wage it pays to its workers.B. some control over both the price of pretzels and the wage it pays to its workers.C. some control over the price of pretzels but no control over the wage it pays to its workers.D. no control over either the price of pretzels or the wage it pays to its workers.
Business
1 answer:
lisabon 2012 [21]3 years ago
4 0

Answer:

D. no control over either the price of pretzels or the wage it pays to its workers.

Explanation:

A competitive market is characterised by many firms that are price takers. Firms that are price takers have no influence over the price they charge for their products; prices are set by the forces of demand and supply.

If the market for pretzels are competitive, the firm cannot set the price for pretzels. If the pretzel stand owner increases the price for pretzels, consumers patronize other pretzel stand owners. There would be no incentive for the pretzel owner to reduce its cost because the pretzel stand owner would be reducing its revenue and reducing its profit

If the market for pretzel makers is competitive, firms have no influence on wages that can be paid to workers.Wages are determined by the forces of demand and supply. If wages are cut, workers move to other firms. There would be no incentive to increase wages because it would increase cost and reduce profit.

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A homeowner fears the construction of a factory nearby will decrease the value of her property. this illustrates the principle o
Mama L [17]

A homeowner fears the construction of a factory nearby will decrease the value of her property. this illustrates the principle of externalities.

Many people are unaware that there are tax advantages for home owners when they purchase, own, remodel and even sell their property. These advantages take the form of tax deductions, which lower your taxable income and hence lower your tax payment.

However, you might be astonished to hear that even though the house was bought with a mortgage, you still own it. As the homeowner, your name is listed on the title. The lender does not actually own your home; rather, they only have a stake in the property and the mortgage note.

According to the Federal Reserve's 2020 Survey of Consumer Finances, if you own your home, you probably have a higher value than someone who rents. The assumption that owning a home is a wise financial decision is supported by the fact that homeowners have a net worth that is more than 40 times bigger than their counterparts who rent.

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4 0
2 years ago
When interviewing job candidates, Anka's first impression was more favorable to Louisa, who dressed in designer clothes and atte
Lady_Fox [76]

Answer:

The correct answer is letter "E": perception of social status.

Explanation:

The perception of social status refers to discriminating people by the level of income and lifestyles they have. People with higher buying power are usually seen as smarter and more educated while those with below-average income are usually seen with relative mistrust.  

This is a stereotype that leads to having incorrect ideas of how people are. In front of job interviews, all applicants must be evaluated based on their <em>qualifications, skills, </em>and <em>experience</em> rather than on what is the price tag of the clothing they are wearing.

3 0
3 years ago
From the following list, identify those that are likely to serve as source documents.
Flura [38]

Answer:

Telephone bill

Sales ticket

Invoice from supplier

Bank statement

Prepaid insurance

Explanation:

Source documents in accounting are defined as the original record of a transaction that contains transaction details and provides evidence that a transaction occurred.

It is source of information entered into the accounting system. They can be printed on paper or electronic in nature.

From the given list the following are source documents: Telephone bill, Sales ticket, Invoice from supplier, Bank statement, Prepaid insurance.

They are sources from which transaction information can be obtained for entry into the accounting system

6 0
3 years ago
While making organizational decisions, managers should take into consideration the needs and interests of the employees, supplie
Art [367]

Answer:

Stakeholders.

Explanation:

Stakeholders are the group of people who may be interested in the processes of a particular company. They are formed by the group of employees, suppliers and customers, who are the stakeholders in the organization.

Therefore, it is necessary that strategic actions and business processes are aimed at satisfying the interests and needs of stakeholders, who are the company's public, that is, the reason for the existence of a company.

It is important for the company to identify who its stakeholders are and how they directly impact the business, so that it can shape a strategy that is aligned with its interests and what they expect from the company.

Satisfying stakeholders and adopting corporate governance, contributes to the company having a strong market position and achieving several competitive and strategic advantages in the market, increasing its results and profitability.

4 0
3 years ago
Policy and standards often change as a result of business drivers. One such driver, known as ___________________, occurs when bu
serg [7]

Answer:

Business exceptions

Explanation:

Policy and standards often change as a result of business drivers. One such driver, known as business exceptions, occurs when business shifts and new systems or processes are incorporated.

3 0
3 years ago
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