It is important to still maintain network relationships even after you have found a job because it is useful in building career. In addition, should you decide to build your own business, your network will help you achieve success. Connection with people is the key in achieving your career and business goals. It is essential that you build and nurture it even after you are hired.
Answer:
Yes.
Explanation:
We know,
Accounting profit = Revenue - Explicit cost.
Economic profit = Revenue - Explicit cost - Implicit cost
Explicit cost is the day to day expenses, while the implicit cost is the expanses that have already occurred.
Therefore, the explicit cost may not be higher than the revenue. So accounting profit can be positive.
However, as we have to deduct the explicit cost as well as implicit cost from economic profit, it can be positive, negative, or even zero. So the statement is correct.
It is possible for accounting profit to be positive and economic profit to be negative when the implicit costs used in calculating economic profit are greater than the accounting profit. This indicates that the resources used in the business could generate higher returns if invested elsewhere.
Yes, it is indeed possible for accounting profit to be positive while economic profit is negative. This scenario arises due to the difference in what is considered a cost in the computation of each type of profit. Accounting profit is total revenue minus explicit costs, which are direct, out-of-pocket expenses. It does not consider implicit costs, which are the opportunity costs of using resources in one way instead of another. These might include the entrepreneur's time or the potential earnings that could have been generated if capital had been invested elsewhere.
On the other hand, economic profit is total revenue minus total cost, including both explicit and implicit costs. Even when a business is generating a positive accounting profit, if the implicit costs are higher than this accounting profit, the economic profit may be negative. This translates to the business not being as profitable as it could be if the resources had been invested elsewhere. This difference is important because while a business pays income taxes based on its accounting profit, whether it is economically successful depends on its economic profit. The decision to continue a business would depend on positive economic profit.
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Answer:
The correct option is C.
Explanation: Price elasticity is the measure of the rate of change in the level of quantity demanded due to a change in the level of price.
Price elasticity is usually negative, this means that it follows the law of demand; as price increases quantity demanded decreases.
Also, another incidence that can affect price elasticity is an availability of cheaper alternatives. If cheaper alternatives of a particular product are introduced into the market, the demand for that product will reduce, because consumers will abandon it for its cheaper alternatives, thereby driving the elasticity of that product higher.
Therefore, in the scenario given above, the elasticity is higher than -1.2 because there are new brands that have just been introduced into the market.
Credit cards typically charge the highest interest rates.
The payment method that typically charges the highest interest rates is credit cards. Credit cards can have very high-interest rates, typically ranging from 15% to 25%. This means that if you carry a balance on your credit card, you could end up paying a significant amount of interest.
For example, if you have a credit card with an interest rate of 20% and you have a balance of $1,000, you would be charged $200 in interest over a year if you don't pay off the balance.
It's important to be aware of the interest rates associated with different payment methods and make sure to pay off credit card balances as soon as possible to avoid costly interest charges.
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Answer:
State owned enterprises help the government to control certain strategic sectors of the economy,they provide very essential services to the people at cheaper and affordable rates,they protect the consumers from being exploited by private enterprises by offering them a cheaper and better alternative and Ensuring better public service
Explanation:
Answer:
The answer is: true
Explanation:
Customers' goodwill can be defined as the relationship that develops between the customers and a business. Obviously this relationship is based on the products or services that the business sells, and many times it can become an intangible asset.
For example, no one is going to develop customer goodwill when purchasing on the internet. But some businesses create a special relationship with their clients, like a local bakery or coffee shop. When those types of family business is passed on to a son or daughter, the relationship with the customers will remain.
Answer:
it is trueeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee
Explanation:
trust myself g