Answer:income elasticity: Change in the demand curve in response to change in income
Price elasticity: change in demand curve in response to change in price
Explanation:
Income elasticity of demand is the degree of responsiveness of the quantity demanded of a commodity to a CHANGE in income.
Income elasticity of demand=%∆ Qd / %∆income
That is, the ratio of the percentage change in quantity demanded to the percentage change in income.
Price elasticity of demand is the degree of responsiveness of the quantity demand of a commodity to a CHANGE in its own price. It can be calculated using
Price elasticity of demand= %∆Qd / %∆price
That is, the ratio of the percentage change in quantity demanded to the percentage change in price.
Answer:
The answer to this question is given below in this explanation section.
Explanation:
" importance of office for an organization"
An office is the center point of organization.It is a place to perform different activities of a business organization.The office is the brain of the whole organization.The office performs a critical function such as information collection,collection,recording analyzing distribution of information and executive function such as planning,organization,policies formulation,decision making etc.
It is used by management for the purpose of planning,organizing,staffing,directing,and controlling.Office not only keep record of information but also pay the role of reliable channel of communication the information.It is required for smooth functioning of the organization.
Proper organisation facilities the intensive use of human capital.Organization stimulates creativity.By providing well defined areas of work and ensuring delegation of authority,Organization provides sufficient freedom to the managers and encourages their initiative,independent thinking and creativity.
Answer:
Union.
Explanation:
Collaborative bargaining can be defined as a strategic process which typically involves a formal negotiation between an employer of labor (top executive or management) and a union representing the employees working in an organization so as to both reach an agreement on minimum wage, benefits and other pertinent working conditions.
The union and management agreement that allows non-union people to be hired but requires that they join the union after a probationary period creates the union shop.
Under a union shop, employers are saddled with the responsibility of either employing only labor union members or require that all new employees that aren't members of the union as at the time of employment become members after a probationary period i.e within a specific period of time.
$200.10 is the total direct labor cost for an 8-hour work day if a workers paid $15.00 per hour with an overhead charge of 1.45 and a personal time allowance of 1.15.
When a company incurs direct labor costs, it means that all of the expenses associated to paying employees' wages and other benefits for work that is directly relevant to the production of the company's goods or to the delivery of services are paid by the company.
Direct labor costs are the total expenses incurred by the business for paying employees' wages and other perks in exchange for work that is directly relevant to the production of the business's goods or the rendering of its services.
Direct labor cost is one of the significant components of the company’s product cost. It includes the total paid as wages or the other benefits to the company’s employees. They are related directly to the manufacturing of the company’s product or the provision of the services.
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