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3 years ago

What is the difference between economy and economics

Business

2 answers:

Rainbow [258]3 years ago

7 0

Answer:

economy:

the relationship between production, trade and the supply of money in a particular country or region.

economic:Economics is a science that studies economies and develops possible models for their functioning

11Alexandr11 [23.1K]3 years ago

3 0

Basically, economics is the study of an economy, i.e. its structure, condition, working, performance, issues, remedies, etc. ... On the other hand, an economy indicates a region, a particular area or country, concerning production, distribution, consumption, and exchange of goods and services, and supply of money.

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Susan quit her job as a teacher, which paid her $36,000 per year, in order to start her own catering business. she spent $12,000

kotegsom [21]

Answer:c. continue to operate her business, but in the long run she will probably face competition from newly entering firms

Explanation:

Monthly revenue = $4500

Monthly Variable costs = $1000

Monthly Revenue is higher than Monthly Variable Costs, Susan's catering business will earn an economic in the short run. SHE should continue to operating.

Susan will face competition in the long run because other firms will want to enter the market because of economics profits in the catering industry.

7 0

3 years ago

An advantage of using interchangeable parts is that they A. make it easier to repair machines.

mart [117]

An advantage of using interchangeable parts is that they are easier to work with.

- Marlon Nunez

6 0

3 years ago

Read 2 more answers

You need a 30-year, fixed-rate mortgage to buy a new home for $280,000. Your mortgage bank will lend you the money at an APR of

SashulF [63]

Answer: $‭415,688‬

Explanation:

First find the future value of paying $1,200 every month for 360 months.

This is the future value of an annuity:

= Payment * ([1 + interest) ^ no. of periods - 1) / interest

Use periodic interest = 5.75%/ 12

30 years * 12 = 360

= 1,200 * ( ( 1 + 5.75%/12)³⁶⁰ - 1) / 5.75% / 12

= $1,149,357.14

Future value of the loan amount is:

= 280,000 * (1 + 5.75% / 12) ³⁶⁰

= $1,565,045.14

Ballon Payment = 1,565,045.14 - 1,149,357.14

= $‭415,688‬

7 0

3 years ago

Review the five functional areas within the HR department and explain which one you think is most important and why. Which of th

AlladinOne [14]

Answer:

Five useful zones with in the HR division are as following:

* Workforce arranging and business: Work power arranging and the board are the fundamental capacity of human asset the executives. It comprise of arranging, execution and assessment for enrolment, preparing, enlisting, maintenance and leaves all in accordance with organization objectives and goals.

* Human asset the board: Training, vocation improvement and execution the board parts of human asset gives primary concern results to HR.

* Compensation and advantages: Compensation and advantages programs must help the business methodology to spur, enlist and keep representatives while holding fast to cost and law for work.

* Employee and work relations: Employee and work connection are should be in balance as goal and objectives of boss must satisfy as per work rights and desires.

* Risk the executives: HR division utilizes catastrophe the board plans, security techniques to advance worker prosperity. It advance polices and method mindfulness, sets of accepted rules and training and correspondence.

To be fruitful a business, must enlist right ability to guarantee they accomplish their objectives. The HR work is to pull in right people groups to progress in the direction of organization objectives and destinations.

8 0

3 years ago

Imagine you own a small gift shop in a popular but remote tourist location. You want to develop an effective marketing strategy

Arlecino [84]

Answer:

Situational actions on SWOT of a business

Explanation:

Strengths

You have especially good relationships with many suppliers due to your years in business and your success.

You have developed a software system that makes online orders extremely easy.

Weaknesses

You are dependent upon a few artists to keep you in stock.

Opportunities

Your business is in a location that is easy to get into and out of.

The highway that they have been talking about for years is finally being built.

Two new hotels are scheduled for opening next year.

Threats

It is difficult to hire workers with retail experience in the area.

The price of gas goes up.

Wal-Mart moves into a town a few miles away.

The Post Office decides to cut deliveries on Saturday.

Another gift shop may open next door.

Three marketing actions to ensure the success of the shop and why it will work include:

1. Expand your advertisement outreach for experienced retail workers beyond your location, with motivational packages and incentives. Alternatively, get workers around your location and train them to acquire the required retail experience for the job

2. With increase in the price of gas which affects your profit margin, and taking into cognizance your strength in cusstomer relationship, endeavour to increase your product and service outreach and turnover to mitigate for the addition expenses.

3. With the arrival of Wal-Mart as competitor, you will need to maintain consistency in products and services, as well as offer promotional packages

4 0

4 years ago