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den301095 [7]
2 years ago
6

What is the basic difference between cardinal and ordinal approaches of utility?​

Business
1 answer:
Natasha2012 [34]2 years ago
3 0

Answer:

Cardinal utility is the utility wherein the satisfaction derived by the consumers from the consumption of good or service can be measured numerically. Ordinal utility states that the satisfaction which a consumer derives from the consumption of product or service cannot be measured numerically.

Explanation:

hope this helps you.

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Life insurance companies like Prudential hope to get you to worry about how your loved ones will provide for themselves once you
Stels [109]

Answer:

Fear appeal.

Explanation:

In this scenario, Life insurance companies like Prudential hope to get you to worry about how your loved ones will provide for themselves once you have passed away. In order to buttress their point, they paint a very gloomy picture of the possible consequences of not having life insurance, and they make a point of recommending that you act immediately because you never know when it is going to be too late. This is an example of a fear appeal.

A fear appeal can be defined as the act of persuading potential customers to change a risky behavior by highlighting adverse or negative consequences that may arise if they do not subscribe to a service or use a particular product. The main purpose of a fear appeal is to cajole people into buying a product or using a service by using their fears as a motivation.

7 0
3 years ago
If the Japanese production function is Cobb–Douglas with capital share 0.3, output growth is 3 percent per year, depreciation is
miss Akunina [59]

Answer: The saving rate is 0.30

Explanation:

The Golden Rule savings rate is referred to as the rate of savings which maximizes steady state level or growth of consumption.

Let k be the capital/labour ratio (i.e., capital per capita), y be the resulting per capita output ( y = f(k) ), and s be the savings rate. The steady state is referred to as a situation in which per capita output is unchanging, which implies that k be constant. This requires that the amount of saved output be exactly what is needed to one quip any additional workers and two replace any worn out capital.

In a steady state, therefore: sf(k)=(n+d)k

Growth rate of output =3%

Depreciation rate= 4%

Capital output ratio is (K/Y)

= 2.5

Begin the steady state condition:

S= ( σ + n + g) (k/Y)

S= (0.03+0.04) (2.5)

S= 0.175

Golden rule steady state

MPK= (0.03+0.04)= 0.07

Capital output ratio=

K/Y= Capital share / MPK

K/Y= 0.3/0.07

K/Y= 4.29

In the golden state, the capital output ratio is equal to 4.29 in comparison to the current capital ratio 2.5.

The saving rate consistent with the steady growth rate

S= ( σ + n + g) (k/Y)

S= (0.03 +0.04) (4.29)

S= 0.30

The saving rate that is consistent with the steady growth rate is 0.30

6 0
3 years ago
A strong internal control system will reduce the amount of substantive testing that must be performed.A ) True B ) False
Doss [256]

Answer:

A) True

Explanation:

The internal control structure deals with the rules, laws, procedures, practices that vary from company to company that are necessary to attain an organization's goals and objectives.

The substantive testing is an audit process aimed at checking the accuracy and reliability of the financial statements. To check if the financial statements are free from any errors, mistakes, fraud, etc. that can change users' decisions.

The financial statements should be relevant, reliable and finalize in all respects.

Therefore, a strong internal system will reduce the quantity of substantive testing required.

4 0
3 years ago
Amy is concerned with her​ organization's inability to solve problems quickly. She believes that more people should be included
Licemer1 [7]

Answer: Amy is <em>concerned </em>with her​ organization's i<em>nability to solve problems</em> quickly. Several <u>subordinates have complained</u> to her that they feel alienated from the management <u>making the decisions</u> about their jobs with<u> no input </u>from them.

The element that Amy should address is the Chain of command.

Explanation:

A chain of command is a system for sending inside information of organizations with strong, vertical and authoritative structures.

The continuous flow of the chain of command clearly establishes the authority, revealing this depending on who reports to whom.

We must take into account the Authority and the Unit of command. This last is very important because it states that each supervisor must inform only one superior and like this the company preserves the continuous line of authority so all employees are heard and their ideas are taken into consideration for making decisions.  

3 0
3 years ago
John is 17 years old and he earned $3,500 in a summer job. His grandparents just gave him a gift of $5,000 to help him learn fin
Lerok [7]

"John is 17 years old and he earned $3,500 in a summer job. His grandparents just ..."John can contribute $3,500  to an IRA. This is further explained below.

<h3>What is IRA?</h3>

Generally, For those looking to save and invest for their retirement, an individual retirement account (IRA) is a kind of savings account that offers favorable tax treatment.

In conclusion, "John, who is just 17, worked all summer and saved $3,500. Just recently, his grandparents..." John has an annual IRA contribution limit of $3,500.

Read more about IRA

brainly.com/question/14936548

#SPJ1

5 0
2 years ago
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