A cost incurred in the past that is not relevant to any current decision is classified as a(n): Sunk costs
This is further explained below.
<h3>What are
Sunk costs?</h3>
Generally, A cost that has already been incurred but cannot be recouped is referred to as a "sunk cost" in economics and the process of making business decisions. In contrast to sunk costs, prospective costs are future expenses that might be avoided if action is done, while sunk costs have already been incurred.
In conclusion, A cost that was incurred in the past but is not relevant to any choice that is being made at this time is considered to be a(n): Incurred expenses
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Answer:
66
Explanation:
When union workers vote to elect their representatives, the representative must be elected by a simple majority of the votes. A simple majority means 50% plus 1. In this case 50% of 130 votes = 65 votes plus 1 = 66 votes.
Exclusive representation is a legal status that allows the elected representative the legal right to represent the union workers in different situations, e.g. collective bargaining
Answer:
1) Luxury
2) Necessity
Explanation:
1)The hair tie is a luxury good for Mike because Mike has a income elasticity of 5 which means that if mike's income decreases 1% his demand for the good decreases 5%, which shows that his demand for this good is highly sensitive to his income which is a characteristic of luxury goods, as you only buy luxury goods when your income increases.
2) It is a necessity for Sally because her income elasticity to the good is 0.2 which means every 1% change in income changes her demand by just 0.2%, which shows demand is not very sensitive to income and the quantity she buys them in dont rely much on her income, which is a sign of a necessity, you buy a certain amount of necessities regardless of your income.
Answer:
$580 billion
Explanation:
Given that
GNP = $600 billion
Receipts of factor income from the rest of the world = $50 billion
Payments of factor income to the rest of the world = $30 billion
So, The computation of the GDP is shown below:
= GNP - Receipts of factor income from the rest of the world + Payments of factor income to the rest of the world
= $600 billion - $50 billion + $30 billion
= $580 billion
Answer:
Content.
Explanation:
Internet branding or marketiing is the process of advertising your business and services over the internet. This marketing strategy helps to attract customers, sales, etc.
The model of online marketing suggests 7C's of internet branding.
The one that is exemplified in the given instance is content.
Content is one of the 7C's of online marketing which helps to pace with the modernity of society. There are, now, many new ways of creating a creative content which helps to attract the customers. This may include to create content that consists of videos, infographics, images, etc.
<u>In the given instance, Maddie is viewing the website of her favorite clothing store. The pictures posted on that website helps Maddie to style her own clothing. This suggests that her favorite clothing store has created a creative content that helps it's customer to visualize the clothings as well.</u>
Thus the correct answer is content.
