All categories

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.

You might be interested in

Employees and customers are treated like a family at State Street Coffee House. Jason and Jill, the owners, work to encourage un

qaws [65]

Answer: (D) Clan culture

Explanation:

The clan culture is one of the type of friendly type corporate environment in an organization and it is also known as collaborative culture. Clan culture is one of the element of corporate clan culture model.

There are many types of advantage of clan culture in an organization are as follows:

Clear communication
Increase in company productivity
Increase in organization growth

According to the question, Jason and the Jill are the owner of the company an they always encourage and also motivate their employees. They also try to increase the job satisfaction among the employees and they try to built the clan culture in the company.

Therefore, Option (D) is correct.

3 0

3 years ago

Tracy Company, a manufacturer of air conditioners, sold 270 units to Thomas Company on November 17, 2021. The units have a list

tiny-mole [99]

Answer:

See explanation section

Explanation:

Requirement 1

November 17, 2021 Merchandise Inventory Debit $81,000 (Note - 1)

Accounts payable - Tracy Company Credit $81,000

Calculation - $270 units × $400 = $108,000

$108,000 × (100 - 25)% = $81,000

To record the purchase of office equipment on account with a trade discount and a credit terms of 3/10, n/30. As the company uses perpetual inventory system, merchandise inventory is debit.

November 26, 2021 Accounts payable - Tracy Company Debit $81,000

Cash Credit $78,570

Merchandise Inventory Credit $2,430

As Thomas gave the payment within 10 days, Tracy Company provided a 3% discount according to the terms.

Calculation - $81,000 - ($81,000 × 3)% = $81,000 - 2,430 = $78,570

Requirement 2

If Thomas paid on December 15, 2021, Tracy company would not give any discount. However, Thomas paid within 30 days.

Therefore, the journal entry to record the payment is as follows:

December 15, 2021 Accounts payable - Tracy Company Debit $81,000

Cash Credit $81,000

This time he did not receive the discount as he failed to pay within 10 days to get discount.

7 0

4 years ago

Suppose the tax rate on the first $10,000 of income is 0 percent; 10 percent on the next $20,000; 20 percent on the next $20,000

Mrrafil [7]

Answer:

A. $7500

Explanation:

First 10000 : 0%

Next 20000: 10%

Next 20000: 20%

Next 20000: 30%

Over 60000: 40%

Therefore income of $55000 would have a tax liability as such

First - 0% of 10000 = 0

Second - 10% of 20000=2000

Third - 20% of 20000= 4000

Fourth - 30% of 5000= 1500

Total tax liability (TTL)= 0+2000+4000+1500

TTL = $7500

6 0

4 years ago

Read 2 more answers

Khái niệm sản phẩm dịch vụ ngành Tài chính – ngân hàng

umka2103 [35]

What? I don’t understand sorry

3 0

3 years ago

Brown Co. pays weekly salaries of $10,500 on Friday for a five-day workweek ending on that day. Assuming the end of the accounti

ra1l [238]

Answer:

c.credit to Wages Payable for $6,300.

Explanation:

The journal entry to record the wages expense is shown below;

Wages expense dr ($10,500 × 3 ÷ 5) $6,300

To Wages payable $6,300

(being the wages expense is recorded)

Here the wages expense is debited as it increased the expense and credited the wages payable as it increased the liabilities

8 0

3 years ago