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3 years ago

Explain why supply and price are positively related

Business

1 answer:

pishuonlain [190]3 years ago

6 0

Answer:

see below

Explanation:

A positive correlation signifies that an increase in one variable results in the other variable moving in the same direction. Because supply and price are positively correlated, a price increase will increases supply. The opposite is also true.

Suppliers are business people whose main objective is to make profits. Higher prices give higher margins. Suppliers make higher profits when prices are high. The possibility of making higher profits motivates suppliers to increase supplies to the market. On the other hand, low prices may result in losses. When prices are low, supplies will shy away from the market to avoid making losses.

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To compete in today's market, how often should firms focus on marketing planning so that managers and executives have the core i

OleMash [197]

Answer: at all times

Explanation: To compete and stand out in today's market, there is need for proper marketing planning and this should be done AT ALL TIMES. This is because the more you plan, the more you discover new strategies of making your market stand out, the more your goals are attainable.

6 0

4 years ago

Dome Metals has credit sales of $270,000 yearly with credit terms of net 90 days, which is also the average collection period. A

bixtya [17]

Answer:

Net change in income = $8,100

Explanation:

Given:

Current credit sales= $270,000 per year.

Average collection period= 90 days

A 2/15, net 90 means a 20℅ discount if payment is made within 15 days.

Which means new credit terms increase will be

(90/15) * 20℅ = 120℅

We now find the following:

•Revised sales will be = (current sales * new credit terms increase)

= $270,000 * 120℅ = $324,000

•Increase in sales = ( new sales - current sales)

=$324,000 - $270,000 = $54,000

•Profit increase = (profit percent * Increase in sales)

= 15℅ * $54,000 = $8,100

• Average receivable under existing policy =

= $270,000 * (90/360) = $67,500

• Average under new policy =

$325,000 * (15/360) = $13,500

• Receivable reduction= $67,500 - $13,500 = $54,000

• Interest savings

= $54,000 * 12℅ = $6,480

• Cost of discount =

$324,000 * 2℅ = $6,480

Therefore the net change in income if new credit terms are adopted will be = (increase in profit + interest savings - cost of discount)

= $8,100+$6,480-$6,480

= $8,100

3 0

3 years ago

To be most effective, a Code of Ethics must _______________ . be drafted in a positive actions or results-based approach be draf

jarptica [38.1K]

Answer:

To be most effective, a Code of Ethics must be drafted in a positive actions or results-based approach.

Explanation:

A code of ethics can be defined as a document with several guidelines that guide people as to their ideal postures and attitudes, morally accepted or tolerated by society as a whole, framing the participants to a politically correct conduct and in line with good image that the entity or profession wants to occupy, including encouraging the voluntariness and humanization of these people and that, in view of the creation of some professional activities, is drafted, analyzed and approved by its competent class entity, organization or government, in accordance with with the attributions of the activity performed, so that it will suit the interests, struggles or desires of the community benefited by the services that will be offered by the professional on whom the code has an effect.

As such, a code of ethics sets standards that regulate the behavior of people within a company or organization. Although ethics are not coercive (they do not imply legal penalties), the code of ethics presupposes internal rules that are mandatory.

4 0

3 years ago

Suppose that a 2% increase in price results in a 6% decrease in quantity demanded. Own-price elasticity of demand is equal to:

sukhopar [10]

Answer:

-3

Explanation:

PED= change in quantity demanded /change in price

6 0

3 years ago

How can you get a scholarship

Leona [35]

There are several ways you can receive a scholarship. These methods will <u>not guratee</u> you a scholarship but help.

If you are financially unable to pay for college then apply for a Need-based scholarship.
Talk to your guidance counselor and ask them to help you receive a scholarship and what is needed in order to apply.
There are lots of scholarship databases that show state scholarships available to you.

PLEASE be aware that are also <u>fake sites</u> so don't put your personal information if it's not an legitimate site.

7 0

3 years ago