All else equal, imposing taxes in markets where demand and supply are price inelastic not only causes less inefficiency but also raises more revenue.
What is meant by price inelastic?
Inelastic is an economic term referring to the static quantity of a good or service when its price changes. Inelastic means that when the price goes up, consumers' buying habits stay about the same, and when the price goes down, consumers' buying habits also remain unchanged.
What is inefficiency in business?
Inefficiency is defined as a lack of organization or skill that wastes time, energy, or money. For business owners, it is the practice that sparks a worst-case scenario. Every penny spent on tools and software to make the business run smoother is the cost of running an efficient organization.
What do revenue means?
Revenue is the total amount of income generated by the sale of goods or services related to the company's primary operations. Revenue, also known as gross sales, is often referred to as the "top line" because it sits at the top of the income statement. Income, or net income, is a company's total earnings or profit.
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Answer:
Indirect cost
Explanation:
Indirect costs are costs that are not directly accountable to a cost object (such as a particular project, facility, function or product). Indirect costs may be either fixed or variable.
Answer:
1) B) I'll be sharing some special sales tips with you tomorrow that will make your job easier.
2) B) Your goal for this month is to sell 10% more lattes, and you will receive a reward if you reach it.
3) C) Two days off with pay
Explanation:
1) The <em>E->P expectancy</em> is related to the concept of investing effort into something that you know will lead to the desired performance. It is the part of the expectancy theory that is not related to rewards.
In this example. the goal (task) is to increase sales. The E->P expectancy is the probability that Ethan's efforts will result in the desired performance (increased sales). By giving sales tips to Ethan, he will get more self-esteem and know-how and believe that his effort will in fact result in the desired outcome.
Although this is an overlooked part of the expectancy theory sometimes, it is crucial. Despite the appeal of a particular reward, an employee may not get increased motivation if he/she thinks that the task itself cannot be completed.
2) The <em>P->O expectancy</em> is related to rewards, and it states that employees will get motivated if the desired performance will result in a reward. In this case, Emma's putting the goal (10% increased sales) in direct relation with a reward.
3) Since the Motivation Report states that Ethan is motivated by time off, two days off with pay is the most appealing reward for him. The money bonus is more appropriate for Jon, while a choice of work assignments is better for Blair.
Answer:
All the above.
Explanation:
- Based on the articles the middle-class shrinks P&G high and low are identified by the environmental factors that may impact the development of the firm in the market.
a) Social
: The Social factor in the external environment of the form will be related to the firm showing the product whether it's accepted by the society at large.
b) Cultural
: This aspect will focus on the moral and ethical principles of the company wants to portray.
c) Demographic
: Factors related to the people and their age structures as they are customers users of the products.
d) Economic
: In terms of the revenue maximization and profit motive should target with the appropriate amount.
e) Competitive
: As the markets are highly competitive the demand for the product and the market values will be dependent on the company position of the product.
f) Technological has a larger and integrated role to play.
Answer: The average collection period of the receivables in terms of days was 73 days.
Explanation:
Given that,
Accounts Receivable at the beginning of the year = $390,000
Accounts Receivable at the end of the year = $410,000
Net credit sales during the year = $2,000,000
Average collection period of the receivables in terms of days:
Average accounts receivables = 
= 4,00,000
Net credit sales =
= 5
∴ Accounts receivable days =
= 73 days
The average collection period of the receivables in terms of days was 73 days.