Q5) In 2018, two members of Congress introduced the Stop Bad Employers by Zeroing Out Subsidies Act, which would tax firms whose employees receive government assistance. These members of Congress thought this legislation would give firms a reason to raise employee wages so fewer employees would receive the government assistance. Economists at the Center on Budget and Policy Studies believed that the implementation of this legislation would
a) result in most employers raising employee wages substantially.
b) result in many employers likely seeking to reduce the number of low-wage workers they employ.
c) actually reduce the wages of all workers.
d) have little to no impact on the number of low-wage workers being employed.
Answers
The Center for Budget and Policy Studies' economists predicted that when this legislation went into effect, many firms will try to cut back on the number of low-wage workers they employ.Thus ,option b is correct.
In order to levy a tax on large firms whose employees get specific federal benefits throughout the year, this measure changes the Internal Revenue Code. An employer is considered a "big employer" if they averaged at least 500 employees working during regular business hours the year prior. The Zeroing Out Subsidies Act made it a requirement that large employers (those with more than 500 employees) who have employees who get government assistance pay tax equivalent to the amount of assistance given to those employees. Employer subsidies are not what these are, and to claim otherwise is a falsehood. The funds do not get to the businesses.We have agreed that residents of the US should have a certain basic quality of living.To know more about Zeroing act subsidies visit:
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Related Questions
COMPLETE ANSWER
THE ANSWER TO THE QUESTION IS I'M GOING TO VOTE BRAINLIEST
YOU NEED TO PROVE YOUR ANSWER
Direction: Read each statement carefully. Write True in the blank if the statement is right and False if it is wrong and prove it.
1. Intemal Forces refers to set of elements which affects organization's or firm's behavior.
2. External Forces is unpredictable and uncontrollable.
3. Poor corporate image is a strength of the firm.
4. Money is the lifeblood of every business.
5. Customers are the king of the market.
6. Demographic aspects are the characteristics of the people in which the organization can be found.
7. Macro and micro environment are types of internal environment.
8. Technological includes the use of robots and online commerce.
9. Improper plans and policies help the firm to accomplish its objectives.
10. Socio-cultural are the characteristics of the population of a certain place.
Answers
It is FALSE to state that Internal Forces refer to a set of elements that affect an organization's or firm's behavior.
Why is the above statement False?Today's organizational behavior is influenced by a complicated mix of major influences. People, Structure, Technology, and Environment are the four categories of important factors. People, structure, and technology interact, and these factors are impacted by the environment. Hence it is not only internal forces that affect an organization's behavior. This means the above statement is FALSE.
2. External Forces are unpredictable and uncontrollable. FALSE.
Why is the above answer false?It is possible to predict economic trends using forecasted data. If economic trends which are external can be predicted, then the statement is not entirely true, hence, it is FALSE.
3. Poor corporate image is a strength of the firm. FALSE
Why is the above answer false?When the corporate image is weak or poor, it affects the customer's perception of not just the company but its products as well. Hence, deflecting demand for their goods and services.
4. Money is the lifeblood of every business. TRUE
Why is the above answer TRUE?Without cash flow or money, a company cannot carry out commercial transactions of buying and selling inputs of production. Without inputs, there can be no output. Hence the above statement is TRUE.
5. Customers are the king of the market. TRUE
Customers are the king of the market because they are the ones who carry out the actions of buying from the company. A company can decide to sell. But if there is no one to buy, then its products will become non-convertible assets. Second, customers must be courted because (under normal circumstances) they are not required to buy from a business. Because they hold the power to decide where and whom to buy from, they are considered the king of the market. Hence the above statement is TRUE.
6. Demographic aspects are the characteristics of the people in which the organization can be found. FALSE.
Why is the above answer false?Demography is the scientific survey of populations, particularly human populations. Demographic analysis may be used for entire societies or groupings based on factors such as education, nationality, religion, and ethnicity. Hence the above statement is FALSE.
7. Macro and micro environment are types of the internal environment. FALSE
Why is the above answer false?Macro relates to external while micro relates to internal. Hence the above statement is FALSE.
8. Technology includes the use of robots and online commerce. TRUE
Why is the above answer TRUE?Robots and online commerce are inventions that were possible via the evolution of technology. It is to be noted that the use of scientific knowledge for practical purposes, especially in industry and commerce is called Technology. Hence the above statement is TRUE.
9. Improper plans and policies help the firm to accomplish its objectives. FALSE.
Why is the above answer false?A bad plan cannot possibly lead to a good plan. Hence, improper plans and policies CAN NOT help the firm to accomplish its objectives.
10. Socio-cultural are the characteristics of the population of a certain place. TRUE.
Why is the above answer TRUE?The above answer is TRUE because the way a society relates to one another as well as with elements external to it is called culture, hence the term - Socio-cultural.
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What is the relationship between decisions and trade-offs?
Answers
Explanation:
A trade-off (or tradeoff) is a situational decision that involves diminishing or losing one quality, quantity, or property of a set or design in return for gains in other aspects. In simple terms, a tradeoff is where one thing increases, and another must decrease. Please Mark me brainliest.
Select the best answer from the multiple choices below
In Texas, the speed limit in a/an Is 3mph.
Oalley
Obeach
Ourban district
ONone of the above
Answers
Good luck
Explain the importance of knowing dependent and independent demand models to companies.
Answers
The importance of knowing dependent and independent demand models to companies is that it is a way for one to be able:
To understand inventory.Be able to depict the number of units of a specific product that the consumers are said to be willing to by at each price.What is independent demand and dependent demand?Independent demand is known to be the demand for a given finished product. It can be a machine, a car. etc.
The dependent demand is known to be the demand for a component area of a finished good, such as the wheels on a car.
Note that the Dependent demand is one that is obtained from the demand for a finished product.
Therefore, The importance of knowing dependent and independent demand models to companies is that it is a way for one to be able:
To understand inventory.Be able to depict the number of units of a specific product that the consumers are said to be willing to by at each price.Learn more about demand models from
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Dhrish has flown into Chicago for work. He needs a place to eat dinner and hasn’t had time to research local restaurants. Dhrish calls the concierge desk at his hotel and asks for a few recommendations. After settling on one close by, Dhrish thanks the concierge and hangs up the phone. Identify all of the relevant characteristics for this service product experience:
Answers
The relevant characteristics of this service product experience were intangible and simultaneous production and consumption.
What is Service?Services are referred to as a type of goods that is offered to someone in terms of facilities like the one received in a restaurant or shopping mall. It is a type of commodity or product that is intangible in nature, one can only feel it.
In this case, Dhrish call the help desk in the hotel and take suggestions from them via phone call which reflects intangible service as he did not see it just felt it.
Services are said to be simultaneous production and consumption as services are consumed at the time when they are produced like Dhrish receives information through the help desk and made decisions.
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PLS PLS PLS PLS PLS PLS HELP
IM LITERALLY STRUGGLING
Answers
a) The computation of the payback period, accounting rate of return, and the net present value of each of the potential projects are as follows:
Project A Project B Project C
Payback period 3 years 3 years 4 years
Accounting rate of return 77.14% 55.38% 58.95%
Net present value (NPV) $21,965 $2,425 $6,020
b) The choice of project is Project A based on its spectacular performance with the three project evaluation financial metrics, especially the NPV.
Data and Calculations:Project A Project B Project C
Initial cost $175,000 $195,000 $190,000
Expected life 5 years 5 years 5 years
Scrap value expected $5,000 $8,000 $4,000
Expected Cash Inflows:
Year 1 $75,000 $95,000 $50,000
Year 2 65,000 65,000 60,000
Year 3 60,000 45,000 65,000
Year 4 55,000 45,000 66,000
Year 5 50,000 45,000 57,000
Total cash inflows $305,000 $295,000 $298,000
Total depreciation for 5 175,000
Cost of capital = 18%
Depreciation to Project A each year = $35,000
Depreciation to Project B each year = $39,000
Depreciation to Project C each year = $38,000
a) Payback period:Project A Project B Project C
Initial cost $175,000 $195,000 $190,000
Expected cash inflows:
Year 1 $75,000 $95,000 $50,000
Year 2 65,000 65,000 60,000
Year 3 60,000 45,000 65,000
Year 4 66,000
Payback period = 3 years 3 years 4 years
b) Accounting rate of return:Project A Project B Project C
Total cash inflows $305,000 $295,000 $298,000
Total depreciation for 5 (175,000) (195,000) (190,000)
Scrap value 5,000 8,000 4,000
Net income $135,000 $108,000 $112,000
Initial cost $175,000 $195,000 $190,000
Accounting rate of return 77.14% 55.38% 58.95%
c) NPV:Project A Project B Project C
Initial cost ($175,000) ($195,000) ($190,000)
Year 1 $63,525 $80,465 $42,350
Year 2 46,670 46,670 43,080
Year 3 36,540 27,405 39,585
Year 4 28,380 23,220 34,056
Year 5 21,850 19,665 24,909
NPV $21,965 $2,425 $6,020
Discount factors at 18%:
0.847
0.718
0.609
0.516
0.437
Thus, Project A should be selected because of its high positive NPV.
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Company A had $210,000 income from operations. Salaries expense for the year was $12,500. Depreciation expense was $9,000. Cost of goods sold was $112,000. They also received dividend revenue of $20,200. What is the company's sales revenue for the year?
$322,000
$343,500
$323,300
$96,700
Answers
The company's sales revenue for the year is $343,500 (2nd option).
What is the sales revenue?Sales revenue is the total amount earned by a company from its activities before any deductions are made. Operating income is the income of a company from it core activities after deductions have been made from the sales revenue.
In order to determine the operating income from the sales revenue, operating expenses e.g wages, depreciation and the cost of good sold would be subtracted from sales revenue. Net income differs from operating income because in addition to all the deductions made from sales revenue to arrive at operating income, net income also deducts taxes and interest expenses.
If the operating income is given, in order to determine the sales revenue, add salaries, depreciation and cost of goods sold to income from operations. Dividend revenue is not included in the calculation because it not part of the income derived in the course of the company's activities.
Sales revenue = income from operations + depreciation + cost of goods sold + salary expense
$210,000 + $12,500 + $9,000 + $112,000 = $343,500
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Which statement best describes a characteristic of a relational database?
A. It contains tables that are completely independent of one another.
B. It contains tables with fields that are associated with one another.
C. It is a feature that is primarily used to navigate databases.
D. It is a feature that is primarily used to add queries to tables.
Answers
Answer:
B. It contains tables with fields that are associated with one another.
Why the other choices are wrong
C and D are wrong because a relational database is a database that contains tables with fields that are associated with one another. D is wrong because it is a feature that is used to add queries to tables.
Further explanation of concepts:
What is a relational database?
A relational database is a database that stores data in the form of tables. The tables are then linked together by relationships. This makes it easy to access data in the database and to create new relationships between data.
What are queries?
Queries are how you search for and manipulate data in a relational database. Queries can be used to find specific data, to update data, or to delete data.
the difference between the 3 basic communication models
Answers
Answer:
The linear communication model is a one-way interaction where feedback is not present. Linear is the primary communication model, whereas the transactional model is formed based on the linear model. The sender communicates with the receiver without receiving feedback.
Explanation:
The National Aeronautics and Space Administration (NASA) will pay Lockheed Martin Corp. $11.4 billion for Orion's development, test flights, and its first manned mission in 2021. NASA is a government unit operating in __________ market.
Answers
The National Aeronautics and Space Administration (NASA) will pay Lockheed Martin Corp. $11.4 billion for Orion's development, test flights, and its first manned mission in 2021. NASA is a government unit operating in a service market.
Government , Political device through which a frame of human beings is run and controlled. one-of-a-kind levels of presidency usually have special responsibilities. the level closest to those governed is local authorities. regional governments include a grouping of individual groups.
Authorities can be defined as a group of people who are chargeable for governing a political unit like a kingdom, country, or a country. authorities also can be defined as an expert which has the power to rule a specific state, or a country based totally on sure administrative legal guidelines.
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List the two categories from Gardner’s multiple intelligences that best reflect your learning style
Answers
The intelligences raised by Howard Gardner that best reflect my learning style are: Spatial intelligence and bodily-kinesthetic intelligence.
Who is Howard Gardner?Howard Gardner (1943) is an American psychologist who is popular throughout the world for his research related to the analysis of cognitive abilities and for having formulated the theory of multiple intelligences.
What are multiple intelligences?According to Gardner, intelligence is the set of capabilities that allow individuals to solve problems or manufacture valuable products in our culture. He defines 8 great types of capacities or intelligences that are:
Linguistic intelligence refers to people who learn best by reading, hearing and seeing words, speaking, writing, discussing and debating.logical-mathematical intelligence refers to people who learn best using patterns and relationships, classifying, working with the abstractbodily-kinesthetic intelligence refers to people who learn best by touching, moving, processing information through bodily sensations.musical intelligence refers to people who learn better with activities related to rhythm, melody, singing, listening to music and melodies.spatial intelligence refers to people who learn best by working with pictures and colors, visualizing, using their mind's eye, drawing.naturalistic intelligence refers to people who learn best by working in the natural environment, exploring living things learning about plants and nature-related topicsinterpersonal intelligence refers to people who learn best by sharing, comparing, relating, interviewing, Cooperatingintrapersonal intelligence refers to people who learn best by working alone, doing projects at their own pace, having space, reflecting.Which intelligences best reflect my learning style?The intelligences raised by Howard Gardner that best reflect my learning style are:
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Green Forever, a manufacturer of lawn equipment, has preliminary drawings for two grass trimmer designs. Charla
Fraley's job is to determine which is better environmentally. Specifically, she is to use the following data to help the
company determine the revenue retrieval for the GF Deluxe and the revenue retrieval for the Premium Mate. Green
Forever has decided to add an automatic string feeder system with cost and revenue estimates as shown below to the
GF Deluxe model.
Click the icon to view the data about the two grass trimmer designs.
Answers
The revenue retrieval for the GF Deluxe model is 4.53 & the revenue retrieval for the Premium rate is 3.23, and the GF deluxe model shows a higher revenue retrieval.
What is Revenue Retrieval?Revenue retrieval is basically the aggregate of resale revenue & recycling revenue which is further reduced by the aggregate value of processing cost and disposal cost.Revenue Recovery = Total Resale Revenue + Total Recycling Revenue - Total Disposal Cost - Total Processing Cost.It is also derived from another formula in which Total revenue is reduced by total cost.Total revenue includes both resale and recycling revenues and on the other hand, Total cost includes total processing cost and disposal cost.In the given question the total revenue recovery of the GF Deluxe model was 4.53. And the revenue recovery for the premium rate was 3.23.And according to the revenue retrieval rule higher the yield higher the revenue recovery.
Thus, The revenue retrieval for the GF Deluxe model is 4.53 and the GF deluxe model shows a higher revenue retrieval.
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Learning Objective: 01-02 Explain why organizational behavior knowledge is important for you and for organizations.
Answers
Organizational behaviour knowledge is important for organizations because it analyzes the effect of social and environmental factors that affect the way employees or teams work.
Organizational behaviour (OB) is the systematic study and use of information about how people behave within their workplace organisations. People, structure, technology, and the outside environment make up the four components of organisational behaviour. It is possible to make changes by comprehending the relationships between these components. Organizational behaviour is the deliberate act of identifying, organising, preserving, and disseminating employee knowledge and expertise inside a company. Organizational behaviour build a considerable body of institutional knowledge as they develop, diversify, and define their business strategies. It aids in the testing of our own hypotheses. Organizational behaviour enables managers to comprehend the fundamentals of motivation and the best ways to inspire their staff.
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Latasha is the manager of a Burger King store. Which of the following actions would lead you to believe that Latasha is not a modern manager?
Answers
To accomplish particular objectives, managers plan, organize, direct, and control resources. The best strategy to accomplish their goals is determined throughout the planning process store. In order to execute the company's strategy, resources (people, capital, and equipment) must be allocated.
A manager is essential to the success of any firm. He serves as a leader for others, plans employee activities, delegated authority to subordinates, makes significant choices, manages human relations activities, serves as an organization spokesperson ,store etc. Most leaders place a premium on hard talents that can be assessed, like typing speed or software understanding, but modern managers need soft skills like emotional intelligence.
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The idea of setting timers for work intervals followed by short breaks is called
Answers
The idea of setting timers for work intervals followed by short breaks is called Pomodoro Technique.
Why does the Pomodoro Technique work?You benefit from being less distracted. You could not be paying attention to your work even if you are just checking your emails. The Pomodoro approach encourages you to concentrate on one activity at a time, which reduces distractions. You may do it in your workplace or at home, and it's easy to follow.
Francesco Cirillo created the Pomodoro Technique as a time-management technique in the late 1980s. It divides the task into intervals that are typically 25 minutes long and are separated by brief breaks using a kitchen timer.
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The president of XYZ Manufacturing Company of Buffalo, New York, comes to you with a license offer from a company in Osaka. In return for sharing the company's patents and know-how, the Japanese company will pay a license fee of 5 percent of the ex-factory price of all products sold based on the U.S. Company’s license. The president wants your advice. What would you tell him?
Answers
The advice will be given to the company will be
The geographic extent of the agreement must be carefully considered by XYZ. The question will be asked as only Japan should market licensed goods.?Before making a decision, XYZ might want to look into more potential licensees. The protection of XYZ's patents in Japan is another necessity.What is a license?A license is referred to as a kind of document which provides legal permission to sell any product or provides the rights to hold any authority. These licenses are of different types based on business.
Licensing might be an attractive style of business if XYZ is a small manufacturer with limited global experience and if the outlook for the marketplace is positive.
It is suggested that managers should compare the projected profitability of a proposed licensing venture with the future profits of alternative entry modes through which can they reasonably decide on licensing as their primary entry mode.
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Canadian Steel has established an alcoholic rehabilitation program for the city of Winnipeg. The company provides the facilities and the personnel to operate the program. Canadian Steel is practicing:
Answers
If Canadian Steel has established an alcoholic rehabilitation program for the city of Winnipeg. The company provides the facilities and the personnel to operate the program. Canadian Steel is practicing: social responsibility.
What is social responsibility?
Social responsibility can be defined as the process in which a person tend to engage in actions or things that can benefit the society at large.
Based on the scenario the Canadian steel is engaging in what is called social responsibility by doing or taking action will benefit the environment around them.
Therefore if Canadian Steel has established an alcoholic rehabilitation program for the city of Winnipeg. The company provides the facilities and the personnel to operate the program. Canadian Steel is practicing: social responsibility.
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60 points Give an example of an issue that can make it difficult for an American to interview and select an international employee. (Study Guide 1.2.6) One main important reason is worth 20 points. (Assume the interviewer and the interviewee can speak the same language.)
Answers
Answer:
the qualifications might differ from country to country
how would the international employee work - online meetings etc?
Explanation:
Answer:
Cultural differences can make it difficult for an American interviewer to understand the qualifications and work style of an international employee. This can lead to misunderstandings and bias during the interview process, potentially causing the American interviewer to overlook qualified candidates.
give 2 reasons why you think having a career is important
Answers
Answer:
There are many benefits to having a career purpose. First, it will inspire you to do and be more in your job, which will light you up and make your life come alive. You'll make more progress in your career too, because you're engaged and interested in what you're doing.
Career is a lot of your life. ...
It affects who you are at home. ...
It is a part of your identity. ...
It provides direction and purpose. ...
Work will define your social life. ...
Finding Your Passion is a Moral Obligation.
Explanation:
Answer:
A job may be important for a sense of purpose since it can provide goals to work toward each day and an income to support you financially. It can help you build skills and experience that will last throughout your career, even if you change careers later in life.
In a document, numerals are typically preferred over bullets unless the sequence of the items in a series is critical.
Answers
TRUE, in a document, numerals are typically preferred over bullets unless the sequence of the items in a series is critical.
An instance of document is the united states charter. A written or printed paper that bears the authentic, reliable, or felony shape of some thing and may be used to provide decisive proof or statistics. To file in files.
A report is a written, drawn, provided, or memorialized illustration of thought, frequently the manifestation of non-fictional, in addition to fictional, content material. The word originates from the Latin Documentum, which denotes a "teaching" or "lesson": the verb doceō denotes "to educate".
A record is a file of a few records that may be used as an expert or for reference, similarly analyses or take a look at.
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In the United States, which of the following is
true about the Federal Reserve?
A. The Federal Reserve is in charge of all tax collection.
B. The Federal Reserve is in charge of printing all cash and coins.
C. The Federal Reserve is in charge of international trade.
D. The Federal Reserve is in charge of all investments.
Answers
Answer:
it's the c
Explanation:
Recommendations on a whole to help improve the Elmont economy. Identify any undeveloped areas or buildings that need repair in Elmont, what would you build? Why?
Answers
Hospital can be build in any undeveloped areas or buildings to improve economy and conditions.
Development of hospital would improve the economy and generate employment opportunities in the area which they are build. The repair of building requires several workers and departments to manage them.
For those who have done various degree and study can provide the regular checkups to the patients for the healthcare concern of the people residing in that particular areas and provide opportunity to earn to daily wage earners.
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explain how various marketing and professional elements must be coordinate to communicate effectively
Answers
Communication involves eight key components: the source, the message, the channel, the receiver, the feedback, the environment, the context, and interference.
What is effective professional communication?We must be precise and thorough in our communication if we want it to be effective. Learning the ability to convey information with clarity, empathy, and understanding is essential to becoming a good communicator in both our professional and personal life.
Discover More About Your Target Market. The USP of your business should be determined (USP). Select the right mix of marketing communications. Establish Your Brand. Think through your success metrics. Action-Plan Your Strategy.
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The means of getting the product into the customer's hands-where they
shop is which element of the Marketing Mix?
A) Product
B) Place
C) price
D) Promotion
Answers
Lion Corp. has a $2000 par value bond outstanding with a coupon rate of 4.9 percent paid semiannually and 23 years to maturity. The yield to maturity on this bond is 4.3 percent. What is the dollar price of the bond?
Answers
The dollar price of the Lion Corp. bond is $2,174.18
What is the dollar price of the bond?
The dollar price of the bond is the present value of its future cash flows, 46 semiannual coupon payments and the face value discounted at the semiannual yield to maturity of the bond, which can be computed using a financial calculator which requires that the calculator be set to its end mode before making necessary inputs because the semiannual cash payments are expected at the end of each semiannual period:
N=46(number of semiannual coupons in 23 years=23*2)
I/Y=2.15(semiannual yield without % sign=4.3%/2)
PMT=49(semiannual coupon=$2000*4.9%/2)
FV=2000(the face value of $2000)
CPT(press compute)
PV=$2,174.18
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Refusal to submit to a breath or blood analysis to determine the concentration of alcohol or other drugsin your system will result in a
of 180 days.
O community service requirement
O driver license suspension
O jail term
O alcohol awareness course requirement
Answers
Refusal to submit to a breath or blood analysis to determine the concentration of alcohol or other drugs in your system will result in a driver license suspension of 180 days. The correct option is B.
This penalty is often imposed by law enforcement agencies when individuals decline to take a breathalyzer or blood test during a traffic stop for suspected driving under the influence.
License suspension serves as a deterrent to discourage impaired driving and ensure public safety on the roads.
During this period, individuals may face difficulties in commuting and may need to fulfill certain requirements such as attending an alcohol awareness course to reinstate their driver's license after the suspension period.
Therefore, the correct option is B.
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two primary techniques to identify use cases
Answers
Two primary techniques to identify use cases are User Goal Technique and CRUD Technique.
A strategy is known as the "Goal Technique" is talking to users and asking them to discuss their objectives for the new system. Typically, the analyst would make a list of every stakeholder who is likely to engage with the system, consider their roles, and determine what resources they would require to do their tasks.
Using the CRUD technique, which stands for Create, Read or Report, Update, and Delete, is another method for locating use cases. In this instance, the analyst identifies all the data elements that the system will process and develops use cases for the creation, reporting, updating, and deletion of each data element.
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COMPLETE ANSWER
THE ANSWER TO THE QUESTION IS I'M GOING TO VOTE BRAINLIEST.
GIVE A PROVE YOUR ANSWER
Direction: Read the statements and choose the correct answer from the given choices and prove it.
A. Micro environment
B. Internal environment
C. Economic Aspects
D. Financial Resource
E. Human resources.
F. Macro environment
G. External environment
H. Politico-legal
I. Corporate image
J. Demographic
1. It directly affects the firm's activities.
2. It is all forces and events outside organization effect on its activities.
3. It refers to the size and geographic distribution of the population.
4. It does not immediately affect activities of the firm.
5. It affects the firm in both the revenue side and cost side.
6. A firm should develop, maintain and enhance a good business image.
7. This includes laws, ordinances, and regulations.
8. The social behavior of the employees greatly affects the working of the business.
9. It is a term covering all financial funds of the organization.
10. It is where all functions within a firm.
Answers
The statements belong to various business and management terminologies
1. It directly affects the firm's activities. - Micro Environment
2. It is all forces and events outside organization effect on its activities. - External Environment
3. It refers to the size and geographic distribution of the population. - Demographic
4. It does not immediately affect the activities of the firm. - Macro environment
5. It affects the firm on both the revenue side and cost sides. - Economic Aspects
6. A firm should develop, maintain and enhance a good business image. - Corporate Image
7. This includes laws, ordinances, and regulations. - Politico-legal
8. The social behavior of the employees greatly affects the working of the business. - Human resources.
9. It is a term covering all financial funds of the organization. - Financial Resources
10. It is where all functions within a firm are. - Internal Environment
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Refer to the following demand schedule for Managerial Economics Textbooks
Price Quantity Demanded
$100 0
$80 10
$60 20
$40 30
$20 40
0 50
a. Using the midpoint method, calculate the absolute values of the price elasticity of demand.
b. Under which price level is the demand curve elastic? Under which price level is the demand curve inelastic?
c. What will happen to total revenue if price increase from $40 to $60? Why? (Explain in terms of price elasticity of demand).
Answers
The price elasticity of demand is 2.33.
The demand curve is elastic above a price of $60 and inelastic under a price of $60.
If price is increased from $40 to $60, total revenue would fall because demand is inelastic.
What is price elasticity of demand?Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Demand is elastic, if the percentage change in price is less than the percentage change in quantity supplied. The absolute coefficient of elasticity would be greater than one.
Demand is inelastic, if the percentage change in price is greater than the percentage change in quantity supplied. The absolute coefficient of elasticity would be less than one. When demand is inelastic, if prices are increased, price would fall.
Price elasticity of demand = midpoint change in quantity demanded / midpoint change in price
Midpoint change in quantity demanded = change in quantity demanded / average of both demands
change in quantity demanded = 10 - 20 = -10
average of both demands = (10 + 2 ) / 2 = 15
Midpoint change in quantity demanded = 10 / 15 = -0.67
Midpoint change in price = change in price / average of both price
change in price = $80 - $60 = $20
average of both price = (80 + 60) / 2 = 70
Midpoint change in price = 20 / 70 = 0.286
Price elasticity of demand = -0.667 / 0.286 = 2.33
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Jannah is teaching a course on hospitality and tourism. She wants to demonstrate to the class what a positive attitude and good work habits look like by acting out a scene or two. She knows at least one scene should be demonstrating proper phone etiquette. Describe what this would look like. Then, come up with another scene that she could act out to demonstrate characteristics and etiquette that are important to success in the hospitality and tourism industry and why.
Answers
Answer: Scene 1: acting out Proper Phone Etiquette :
She should go over the rules and demonstrate the 8 rules I have listed below to the people so they can better grasp, and understand.
Scene 2: She should talk over it and then show them examples of what to do so they can better understand and grasp the topic.
Proper Phone Etiquette
1) Talk in a cheerful tone.
2) Make sure to introduce yourself properly.
3) Never let the phone ring for too long.
4) Keep the proper phone distance from the mouth.
5) Speak in a straightforward yet concise way.
6) Be considerate about putting the caller on hold.
7) Don’t use the speakerphone.
8) Actively listen, and take notes to keep track of things.
Characteristics and Etiquette: important to hospitality and the tourism industry.
A POSITIVE ATTITUDE
One of the essential traits in the industry is in the name itself. Employees have to be hospitable to customers so that they can rely on them to satisfy their needs. A can-do or positive attitude can smooth ruffled feathers or disgruntled customers faster than a stoic disposition. A reward system will ensure that employees maintain this attitude and that your customers remain satisfied even if they don’t feel up to it.
COMMITMENT
Commitment determines success in the hospitality industry but maintaining it is not everyone’s forte. Many employees may start out committed, but their enthusiasm eventually wanes if they realize that the field is not for them. Rather than risk bored employees, search for candidates who have a deep understanding of the industry and who can keep clients happy at all costs. Unenthusiastic workers never make it past entry-level jobs while committed ones go the extra mile to ensure organizational success. They also make a point of serving customers in the best manner possible and are more enthusiastic during training sessions.
LEADERSHIP SKILLS
In the hospitality industry, strong leadership skills set successful employees apart from those who are just in it for the money. The former is more productive and proactive which makes them valuable additions to any team. Most are able to handle complex plans and make contributions to them that can elevate customer experiences, reduce downtime and increase team morale. That is why most prolific managers in the industry start off as entry-level employees who are not only proactive but who also demonstrate good leadership skills.
ORGANIZATION SKILLS
Individuals who are involved in the hospitality industry have to multitask and for that, they need to be organized. They have to be capable of juggling multiple tasks at all levels and handling several responsibilities simultaneously. For instance, on a typical day, a manager may have to handle disgruntled guests, stand in for an AWOL server, put out a kitchen fire, aid an injured worker, and all while maintaining a smile on his/her face. The work is fast-paced which can be overwhelming if your employees are not organized.
CONNECTIONS
One of the critical skills employees need to have in the hospitality industry is the ability to create and maintain a professional network. That is the best way to move your career forward in this industry and encourage customers to remain loyal patrons. Besides other professionals, this includes returning guests who make a significant portion of the income the business gets. Employees who can nurture those connections have higher chances of being promoted to management.
PROBLEM-SOLVING SKILLS
Hospitality employees have to be strong multi-taskers and that means solving problems as they come across them. Time is money in this industry especially when it comes to customer satisfaction. This includes creating innovative solutions for complex issues, identifying routine customer complaints, and ensuring the solutions they implement are effective. They are also careful in ensuring they do not violate predetermined policies and procedures that are in place to protect the business. The more versatile they are, the faster and more effectively they can root out issues.
Jannah is teaching a course on hospitality and tourism. Professional ethics is a combination of norms, values and personal behaviors, which is concentrated in the standards, rules and hierarchy of the company.
What are the characteristics of those who work with tourism?
1.scene 1: You should always be polite, greet callers with a good morning, and inquire about their well-being.
Show that he is enthusiastic and genuinely thrilled about the vacation in scene 2.
3. The tourism course develops professionals who can organize, promote, publicize, and plan vacations, events, and other leisure and professional activities. The professional needs to be aware of political, economic, social, cultural, and environmental factors, as well as have a broad perspective.
4. Considering Michael's expected career path, from dishwasher to chef, Michael may add in a digital portfolio his experiences, his specializations, and award-winning dishes from the restaurant where he works to make him a competitive candidate for the role of chef.
5. The work ethic is the belief that work and diligence have a moral benefit and an inherent ability, virtue, or value to strengthen individual character and abilities. It is a set of values centered on the importance of work, manifested in the determination or desire to work hard.
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