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2 years ago

Why is it important to track your income and your expenses?

Business

1 answer:

Misha Larkins [42]2 years ago

6 0

Answer:

1. because knowing whether you can afford your lifestyle or not is the first goal of financial literacy

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Suppose that without specialization, Iran produces 4 barrels of oil and 6 bottles of olive oil, and Iraq produces 4 barrels of o

Elza [17]

Answer:

With specialization Iran will be able to consume 1.7 bottles of olive oil.

Explanation:

Iran produces 4 barrels of oil and 6 bottles of olive oil.

Iraq produces 4 barrels of oil and 4 bottles of olive oil.

The opportunity cost of producing a barrel of oil for Iran

= $\frac{6}{4}$

= 1.5

The opportunity cost of producing a barrel of oil for Iraq

= $\frac{4}{4}$

= 1

Iraq has a lower opportunity cost for producing oil so we can say it has a comparative advantage in producing oil.

The opportunity cost of producing a barrel of olive oil for Iran

= $\frac{4}{6}$

= 0.66

The opportunity cost of producing a barrel of olive oil for Iraq

= $\frac{4}{4}$

= 1

Iran has a lower opportunity cost for producing olive oil so we can say it has a comparative advantage in producing it.

The terms of trade with specialization are 4 barrels of oil for 4.3 bottles of olive oil, and that 4 barrels of oil are indeed traded for 4.3 bottles of olive oil.

Without trade, Iran is consuming 4 barrels of oil and 6 bottles of olive oil.

With specialization, Iran will be able to consume

= 6 - 4.3

= 1.7 bottles of olive oil

6 0

3 years ago

Small percentage changes in an amount from a company's financial statement may still represent large dollar amounts; therefore,

Lera25 [3.4K]

Answer: You are trying to find out if the statement is true or false? It is FALSE.

Explanation: Analysts should be concerned with the material movements in the company's financial statements. Although as stated in the question, small changes could amount to material movement but that applies in situations where there is a huge outflow but at the same time, there is similar inflow, so the net effect is negligible on a particular financial statements line item. This instance is not relevant to financial analysts but only the concern of internal control and or internal audit.

Financial analysts are interested in what the key drivers of the financial statements are. These drivers in most cases are an avenue to explain what has transpired in the financials between the current period and the preceding one by way of writing a commentary and providing a succinct and holistic explanation of the financial statements.

It would be time consuming and too operational if analysts are concerned with every percentage movement in the financial statements.

4 0

3 years ago

Monica owns an equestrian clothing store. After many customers complained that her clothing only fit petite riders, she decided

Vanyuwa [196]

Answer:

Companies must be prepared at all times to add to or adapt their product lines to satisfy the desires of customers for them to remain competitive.

Explanation:

One of the strategies companies to remain competitive is to adjust to the demand of customers. This will allow a company to retain current customers and win potential new customers.

Although this strategy may require additional fund but failure to adapt and add new product lines that satisfy wants of the customers can the company out of business.

Therefore, companies must be prepared to add to or adapt their product lines to satisfy customers' desires in order to remain competitive.

6 0

3 years ago

Cheryl Adams is having trouble defining her target market for the bookstore she's opening in her town, which is home to a small

Karolina [17]

The most viable target for her to engage will be the college students and their age group. In this way, she can also tap the tourist market without really having to do much. Hope this helps! Please put Brainliest! Have a great Day!

4 0

3 years ago

Read 2 more answers

As the Chief Marketing Office (CMO) for a $100 million product company you need to lead the development of marketing plan for th

sveta [45]

Answer:

Explanation:

describe the elements of a strategic marketing plan

8 0

2 years ago