The three functions/roles of money in an economy are:
1) Medium of Exchange: When money are used to intermediate exchange of goods and services.
2) Unit of Account: Standard numerical unit of measurement of market value goods, services, or other transaction. Money must be divisible into smaller units without loss of value and a specific weight or size to be verifiably countable.
3) Store of Value: To act as a store value,money should be reliably saved, stored, and retrieved. It also must be predictably usable as a medium of exchange when it is retrieved.
Answer:
Based on the form of ownership John will receive dividend from the company. Also the company and John have to pay taxes separately because according to companies ordinance company is a separate legal entity. So company will pay tax on its profit and the owner (John) will pay tax on the dividend he will receive.
Bsed on the form of ownership, the profit the company earns may be subject to double taxation. Double taxation is when a person or company is subject to having double income taxes charge on the same earned income. When this happens, taxes happen at both the corporate level and personal level.
The costumer believes that the product is better quality.
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Answer:
Stablish a Project that aims to make a technological improvement in the actual assets using for the production. The project can be financed by external debt or by allocating part of the revenue to it-; That will ultimately depend on the financial health of the company.
Answer:
He should propose a plan/model highlighting the benefits of using technology in manufacturing, to the higher management of the company.
Explanation:
Since the world is moving towards technological advancements and digitization, it is important to keep up with the face pace of the industry in adapting new things so that the profit doesn't hurt and the company achieve stability. Hence, Michael should try to convince the upper management by highlighting all the benefits that the company can achieve only if they move towards technological advancements.
Hope this answer helps you. Thanks.
At the beginning of the supply chain suppliers deliver raw materials and parts to the producers. Therefore, option number B is appropriate.
What is a Supply Chain?
A supply chain is a continuous process whereby a plethora of people starting from the normal people and also the particular company are all involved in the finishing of a particular product.
This is a long process whereby all the people are continuously involved and are looking after the total process from the beginning, which includes the supply of raw materials to the factory. This makes the supply chain complete.
The creation of the product and supply of the product to the individual makes up the supply chain. Hence, option B is correct.
Learn more about Supply Chain here:
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