Answer:
Normative statement
Explanation:
A normative comment makes a conclusion on meaning. Such a decision is the presenter's viewpoint; nobody can "confirm" whether or not the comment is true. Since individuals have different principles, ethical pronouncements also create discord.
An economist whose beliefs allow him to claim that we ought to provide more help to the needy will compete with one whose ideals contribute to a determination that we ought not.
It is not uncommon for people to present an argument as constructive, to render it more compelling for an audience when it already has negative elements. Sources of this are opinion pieces in magazines or on other outlets. That is why it is critical that we can distinguish among constructive and negative statements.
Henway Inc has a clause in its employment contract that identifies the state law that will apply to any disputes that arise under the contract. This is called an:________
a. forum selection clause.
b. escalator clause.
c. omnibus clause.
d. reserve clause.
Answer:
correct answer is a. forum selection clause
Explanation:
solution
the correct answer is forum selection clause because as it suggests you forum selection
forum selection allows the party to choose the forum or the specific way to deal with the dispute between the two parties
so here organization Henway has chosen state law as that the way to deal with the dispute
so that correct answer is forum selection clause
What is the criminal penalty for engaging in the real estate brokerage business in Texas without firstbecoming licensed by TREC?
Answer:
You must pay a fine of not more than $4,000
Which of the following financial statements is concerned with the company at a point in time?
A. Statement of cash flows
B. Income statement
C. Balance sheet
D. Retained Earnings statement
Answer:
The correct answer is C
Explanation:
Balance sheet is the one of the financial statement, which reports the assets, shareholders' equity and liabilities of the company, at a particular point in time or particular period or year. This financial statement states or offers the basis or grounds for evaluating the return rates as well as computing the capital structure.
The balance sheet offers the snapshot of the accounts of the company which is at a given point in time.
Bradley, the president of Commerce & Trade, Inc., claims that certain actions by the federal government and the state of Delaware infringe on rights guaranteed by the Bill of Rights. All of these rights limit
a. none of the choices.
b. the federal government.
c. private citizens and corporations.
d. the states.
Answer:
The correct answer is B
Explanation:
The Bill of Rights is the one which guarantees the liberties as well as the civil rights to the individual such as the religion, press and freedom of speech.
It states the rules for the procedure which is due for the law and also reserves all the powers not delegated to the Federal Government to the States or the people.
Therefore, the one where all the rights limit the federal government.
Operations Management is responsible for increasing the organization’s efficiency, which means the company will be able to __________.
Answer: Eliminating the activities that do not add value
Explanation:
The operation management is basically refers to the business administration that perform various types of function in an organization.
It is responsible for increasing the efficiency of an organization which means that the company eliminating the various types of activities which does not add any type of values for organization.
It also involve the various types of planning process, coordinating, controlling and organizing all the company resources for producing the effective products and the services.
Therefore, The given answer is correct.
Which of the following refers to a form of protectionism that stipulates a certain proportion of a product must consist of components supplied by industries in the host country or economic community? A. U.S. Generalized System of Preferences (GSP) B. Economic sanctions C. Nationalization D. Local content rules E. Expropriation
Answer:
D. Local content Rules
Explanation:
Local content rules/requirements emphasize that a certain proportion of a product be manufactured from locally supplied components as opposed to imported inputs in the host country. The aim of this is to safeguard and promote employment in domestic country, promote the growth of domesatic industries, and facilitate technological advancement in these industries and in the economy as whole.
Kyzera manufactures, markets, and sells cellular telephones. The average total assets for Kyzera is $250,000. In its most recent year, Kyzera reported net income of $65,000 on revenues of $475,000.
Required:
1. What is Kyzera’s return on assets?
2. Does return on assets seem satisfactory for Kyzera given that its competitors average a 12% return on assets?
3. What are total expenses for Kyzera in its most recent year?
4. What is the average total amount of liabilities plus equity for Kyzera?
The average total assets for kyzera is 250000 in its most
Accounting Basics
Answer:
1. 26%
2. YES
3. $410,000
4. $250,000
Explanation:
1. Return on Assets = Net Profits/ Total Assets = 65,000/250,000 = 26%
2. Return on Assets should be beyond satisfactory for Kyzera because its performance is better than that of the industry average which is 12%
3. Total expenses for Kyzera can be derived from the formula: Total Revenue - Total Expenses = Net Profit.
Therefore 475,000 - Total expenses = 65,000.
Total expenses = 475,000 - 65,000 = $410,000
4. The average total amount of liabilities plus equity can be derived from the balance sheet equation that states that TOTAL ASSETS = EQUITY+LIABILITIES.
Therefore liabilities plus equity = $250,000
1. The return on assets is 26%
2. Yes
3 The total expenses is $410,000
4. The average total assets for kyzera is $250,000
The calculation is as follows:
1. Return on Assets = Net Profits ÷ Total Assets
= 65,000 ÷ 250,000
= 26%
2. Return on Assets should be beyond satisfactory for Kyzera since performance is better than that of the industry average i.e. 12%
3.
Total Revenue - Total Expenses = Net Profit.
475,000 - Total expenses = 65,000.
So,
Total expenses = 475,000 - 65,000
= $410,000
4. Total liabilities + equity = total assets
liabilities plus equity = $250,000
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Pepperdine Company paid factory rent of $10,000. At the time this transaction occurred, it did not affect total assets or net income. True or false?
Answer:
True
Explanation:
As at the time factory rent was paid by Pepperdine company, it did notaffect toatal assets as the factory is an asset of he company as it is rented. I also doesn't affect the net income since the rent is going to included in capital for the company.
Cheers.
________ is the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment.
A. Marketing data
B. Customer intelligence
C. Competitive intelligence
D. Marketing intelligence
E. Sales management
Answer:
D. Marketing intelligence
Explanation:
Marketing intelligence is the systematic collection and analysis of data about the market its operating or want to enter.
Marketing intelligence can be obtained through making research about the products (what consumer desire, branding type, pricing of the product, comparing competitor products, pricing and branding, e.t.c).
Marketing intelligence is use to for decision making and allows for product innovation or improvement thereby promoting the sales of its products.
Answer: Marketing Intelligence.
Explanation: Marketing Intelligence.
A certain bookstore chain has two stores, one in San Francisco and one in Los Angeles. It stocks three kinds of books: hardcover, softcover, and plastic (for infants). At the beginning of January, the central computer showed the following books in stock. Hard Soft Plastic San Francisco 1,000 3,000 6,000 Los Angeles 1,000 6,000 3,000 Its sales in January were as follows: 600 hardcover books, 1,300 softcover books, and 2,000 plastic books sold in San Francisco, and 400 hardcover, 300 softcover, and 500 plastic books sold in Los Angeles. The bookstore chain actually maintained the same sales figures for the first 6 months of the year. Each month, the chain restocked the stores from its warehouse by shipping 500 hardcover, 1,500 softcover, and 1,500 plastic books to San Francisco and 600 hardcover, 600 softcover, and 600 plastic books to Los Angeles. (a) Use matrix operations to determine the total sales over the 6 months, broken down by store and type of book.
Answer:
Hard Soft Plastic
San Francisco 3,600 7,800 12,000
Los Angeles 2,400 1,800 3,000
Explanation:
The sales during January were as follows:
Hard Soft Plastic
San Francisco 600 1,300 2,000
Los Angeles 400 300 500
If the sales during the next five months were actually the same, then to determine total sales all we have to do is multiply January's sales by 6.
600 x 6 = 3,600 1,300 x 6 = 7,800 2,000 x 6 = 12,000
400 x 6 = 2,400 300 x 6 = 1,800 500 x 6 = 3,000
The Indiana state legislature passes a law increasing the minimum jail time for repeat violent offenders. This law becomes part of a body of law known as:______.a. case law. b. administrative law. c. uniform law. d. statutory law.
Answer:
D. Statutory law
Explanation:
A statutory law is the the term used to describe the set of rules that is written by legislative body of government. A statutory law differs from case law which is based on past legal decisions written by courts and administrative law written by the executives.
Answer:
(d) Statutory Law
Explanation:
The law passed by the Indiana state legislature increasing the minimum jail time for repeat violent offenders becomes part of a body of law known as the statutory law.
Statutory laws are written laws passed by legislature i.e state or federal legislature. These are some of the sources of law;
(i) Constitutional Law
(ii) Statutory Law
(iii) Case Law
By definition, this law passed by the Indiana state legislature seeking to increase jail time for repeat violent offenders is a statutory law mainly because it is a written law enacted by the Indiana state legislature.
In deciding whether to dismiss the suit, the court in California first should look to _________ sources of law, or sources that establish the law.
Answer:
Primary
Explanation:
The primary sources of law should be looked to when deciding whether to dismiss a suit or not. The primary sources of law are the determining bodies usually the government (federal and/or state) that make the laws. These bodies include the legislative, case laws, treaties, regulations and constitutions.
I hope this helps.
You invested $29 comma 000 in two accounts paying 2 % and 5 % annual interest, respectively. If the total interest earned for the year was $ 940 comma how much was invested at each rate?
Answer:
Amount invested in account paying 2% = $17,000
Amount invested in account paying 5% = $12,000
Explanation:
Total amount invested = $29,000
Total Interest earned = $940
Let the amount invested in account paying 2% interest be 'x'
Therefore,
the amount invested in account paying 5% interest will be '$29,000 - x'
Now,
( 2% of x ) + [ 5% of ( $29,000 - x)] = $940
or
0.02x + 1450 - 0.05x = $940
or
- 0.03x = $940 - $1450
or
- 0.03x = - $510
or
x = $17,000
Hence,
Amount invested in account paying 2% = $17,000
Amount invested in account paying 5% = $29,000 - $17,000 = $12,000
Based on the parkerian hexad, what principles are affected if we lose a shipment of encrypted backup tapes that contain personal and payment information for our customers?
Answer:
Possession or control
Explanation:
From the perspective of the Parkerian hexad, the affected principles if a shipment of encrypted backup tapes belonging to customers and having their personal and payment information are possession or control. This is considered a physical media disposition on which the information was stored. To effectively and accurately describe the incident scope, the principle of possession would help us do this.
The loss of encrypted backup tapes affects confidentiality, integrity, and availability according to the Parkerian Hexad. This can lead to identity theft, financial theft, and loss of trust in the organization. Digital security remains crucial and includes the physical security of backup devices.
Explanation:The Parkerian Hexad Principles Affected by Loss of Encrypted Backup TapesThe loss of encrypted backup tapes that contain personal and payment information for customers impacts several principles defined by the Parkerian Hexad. These principles include confidentiality, as personal information has been potentially exposed; integrity, due to the uncertainty about whether the data has been tampered with; and availability, as the information on the tapes is no longer accessible to authorized individuals when needed. Such a breach of data security can lead to identity theft, financial theft, and loss of trust in the organization from its customers.
It is crucial to remember that digital information is highly replicable, and strong encryption may not be fully protective if the security of the physical tapes is compromised. The implications of such a loss are widespread, including potential legal issues, financial costs, and reputational damage to the organization.
Ultimately, without access to the data, the services provided by the organization can be severely hindered, thereby affecting its operations and the privacy of the individuals whose data was stored on the lost tapes.
Not adjusting the amounts reported in the financial statements for inflation is an example of which basic assumption or principle of accounting?a. Economic entity. b. Going concern. c. Historical cost. d. Full disclosure.
Answer:
c. Historical cost.
Explanation:
Based on the information provided within the question it can be said that this statement is an example of the basic principle of accounting known as historical cost. This term refers to using the value of something based on the original cost of when it was acquired and not adjusting the amounts for inflation or other newer variables.
Final answer:
Not adjusting financial statements for inflation exemplifies the historical cost principle, which records transactions based on their original cost. Other key accounting principles serve different functions, including the economic entity assumption, the going concern assumption, and the full disclosure principle.
Explanation:
The question is asking which basic assumption or principle of accounting is demonstrated by not adjusting the amounts reported in the financial statements for inflation. The correct answer is c. Historical cost. This principle dictates that companies record their assets, liabilities, and equity based on the original cost at the time of the transaction, rather than adjusting these figures for changes in purchasing power or market value over time. This concept is fundamental in accounting, as it provides a stable and consistent basis for recording and reporting financial transactions.
Although the historical cost principle may lead to the reporting of asset and liability values that do not reflect current market conditions, it is still widely used because it provides an objective measure that can be easily verified, thus making financial statements comparable between periods.
Other principles, like the economic entity assumption, the going concern assumption, and the full disclosure principle, serve different purposes. The economic entity assumption ensures that the business is treated as separate from its owners, the going concern assumption presumes that the organization will continue operating in the foreseeable future, and the full disclosure principle mandates that all information that affects the financial statement user's understanding must be disclosed.
Employees who experience ______ conflict and ______ facilitation between work and family roles are objectively healthier, less absent and better performing employees
a. high, low
b. high, high
c. low, low
d. low, high
Answer: The correct answer is (D) low, high
Explanation:
A conflict refers to a serious disagreement which is usually protracted while facilitation means a process of helping or assisting.
For an employee to be focused on the job, less absent and objectively healthier he needs more positivity both at home and at work.
Hence, an employee needs low conflict and high facilitation to function better
Sue hired an attorney to help her draft a purchase and sale agreement for her new home. The home is an example of a product that is a(n)______________.
Answer:
tangible item
Explanation:
Tangible item -
This term tangible item is used in the field of business.
It refer to the object which a person can touch , is referred to as a tangible item.
For example ,
Paper , pen , books , car , house , computer etc. are all example of tangible item , as they can be touched.
Hence from the information of the question,
The correct term is tangible item .
Sue's new home is an example of a good. A good in business terms refers to a tangible item that is bought or sold, unlike services which are intangible.
Explanation:In the context of the question, Sue's new home is an example of a good. In business and economics, products are essentially divided into two main categories: goods and services. Goods are tangible items that satisfy human wants or needs. In Sue's case, the home is a tangible item which she purchases, therefore it is classified as a good. Services, on the other hand, are intangible products like the service provided by her attorney in drafting the purchase and sale agreement.
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Which of the following countries comes a close second to the United States with respect to the quantity and quality of the marketing-related data available?A. Brazil
B. Australia
C. China
D. Japan
E. Kenya
Answer:
D. Japan comes close
The new employee at Cork Manufacturing reported tp work and the employee reviewed the following information that was audited by the CPA:
Cork Manufacturing
Consolidated Balance Sheet Worksheet
December 31, 20XX
Assets Total:
Cash.................................................................$600,000
Notes receivable.....................................$750,000
Investment company A.......................$800,000
Other assets................................................$900,000
Total assets.............................................$3,050,000
Liabilities and Equities
Accounts payable...............................$25,000
Notes payable.....................................$100,000
Common stock....................................$1,000,000
Retained earnings..............................$1,925,000
Total liabilities and equities.............$3,050,000
Note to Accountant: This statement was prepared in accordance to GAAP
Which of the following described the role of the new employee
a) Managerial accountant
b) Financial accountant
c) CEO
d) Manager—financial analysis
Answer:
The correct answer is D
Explanation:
In this case, the new employee who reported to work, was given the responsibility to perform the review of the information on the balance sheet which was audited by the CPA.
So, here the role of new employee is described as the manager- financial analysis, who is responsible for the financial health of the organization or business, reviewing the financial data as well.
You have informed users that you need to bring the machine down at the end of the day to perform routine maintenance. However, prior to shutting the system down, you want send a message to users and give them fifteen minutes to save data and exit the system.
Which of the following commands should you use?
shutdown -h +15 It is time for a shutdown!
Answer:
shutdown -h +15 It is time for a shutdown!
Explanation:
shutdown -h +15 It is time for a shutdown!
A firm has good associations with its customers, suppliers, and others who provide added mutual value for the firm. Name the form of intellectual capital that is possessed by the firm due to its good associations.1. structural capital2. relationship capital3. human capital4. knowledge capita
Answer:
It is called relationship capital (2)
Explanation:
Relational capital is one of the three components of intellectual capital. It is value derived by the company by the virtue of relationships it has with its customers, vendors, and other important stakeholders.
This is created and maintained by having, nurturing and managing good relationships with all the important stakeholders in the business whether external or internal.
The following table contains statements that provide some analysis of policies that address smoking, lung cancer, and cigarette taxes.Categorize each of these statements as either positive or normative.Statement Positive Normative1.Lung cancer kills millions of people each year. 2.Too many people smoke. 3.If the government were to increase taxes on cigarettes, fewer people would smoke. 4.The government should increase taxes on cigarettes.
Answer:
Positive Statements:
Lung cancer kills millions of people each year.
If the government were to increase taxes on cigarettes, fewer people would smoke.
Normative Statements:
Too many people smoke.
The government should increase taxes on cigarettes.
Explanation:
A positive statement is one that seeks to describe the world as it is.
A normative statement is one that offers an opinion as to the way the world should be.
The following statements are correctly categorized whether they are either positive or normative. Statement Positive Normative.
Lung cancer kills millions of people each year: Positive statementToo many people smoke: Normative statementIf the government were to increase taxes on cigarettes, fewer people would smoke: Positive statementThe government should increase taxes on cigarettes: Normative statementThe positive statement makes a factual observation regarding the number of individuals affected by lung cancer annually.
A normative statement indicates that the current amount of smoking is deemed excessive or unacceptable by expressing an opinion or value judgment about it.
Positive statement assertion suggests a cause-and-effect connection and foresees a possible result of raising cigarette taxes.
A normative statement gives an opinion or a suggestion on what the government should do in terms of taxing cigarettes, demonstrating a value assessment of the desired course of action.
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The distribution of benthic biomass is related to ________. 1) _____
A) primary productivityB) thermocline depthC) current patternsD) sediment varietyE) wave energy
Answer:
The distribution of benthic biomass is related to;
A. Primary productivity
Explanation:
Primary productivity can be defined as the measure of the rate at which photosynthetic organisms produce organic compounds in an ecosystem. productivity can be looked at in two major ways, namely; gross productivity and net productivity.
1. Gross productivity
The entire photosynthetic organic compounds productions in an ecosystem.
2. Net productivity
Net productivity is the organic compounds in an ecosystem that remain after the photosynthetic organisms have utilizes some of the organic compounds for processes such as respiration.
Benthic biomass is therefor the amount of organic energy that are released by organisms in the benthic zone that utilize energy from the sun either directly or indirectly. The benthic zone defines an area that is the lowest point of a water body such as; a lake, ocean and stream. This zones has various organisms that thrive in it. The organisms are either be photosynthetic plants which utilize energy directly from the sun to produce organic compounds or animals that feed on the plants for energy. Both of the organisms still depend on energy form the sun either directly or indirectly.
The distribution of benthic biomass is related to primary productivity, sediment variety, and current patterns which influence the available nutrients and organic matter.
Explanation:The distribution of benthic biomass is related to several factors that affect life on the ocean floor. One of the primary factors is primary productivity, which is the rate at which energy is converted by producers into organic substances. Benthic organisms rely on the fall of organic material from the upper layers of the ocean, which is why areas with high primary productivity tend to have a greater biomass of benthic creatures. Another factor affecting benthic biomass is sediment variety, as different benthic organisms are adapted to different types of sediment on the ocean floor, from sand to silt to organic debris. Lastly, current patterns also influence the distribution of benthic biomass by affecting the dispersal and deposition of nutrients and organic matter, which in turn influences the distribution of benthic life.
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Which growth strategy is designed to increase sales of existing products to current customers, non-users, and users of competitive brands in served markets would utilize which of the following marketing strategies?
A. Control.
B. Market penetration.
C. Market development.
D. Diversification.
E. Product development.
Answer:
market penetration:
Explanation:
Market penetration refers to the approach of selling the service and product in the market that is specified for a particular product.
it is calculated by determining the total amount of product sales in the market compared to goal of selling products in the market.
it involves all process that is needed to promote or to grow the market percentage in a particular business.
it is calculated as
market penetration[tex]= \frac{market\ covered}{target\ market} \times 100[/tex]
Five firms are currently producing and selling in a market. When two more firms enter the market, economists expect that the equilibrium price will ________ and the equilibrium quantity will ________.
Answer:
Decrease, Increase
Explanation:
Equilibrium price is that price in the market, where the quantity of the goods supplied or the service offered is equal to the quantity of the goods demanded. At this point the supply as well as the demand curves in the market intersect.
So, when 2 firms will be entering the market, the economist expect that the equilibrium price will decrease or fall and fall in the price leads to increase in the quantity, so the equilibrium quantity will increase.
Market Analyst:__________ Recent research confirms that the main cause of bad breath is bacteria build-up on the tongue. The research also concludes that tongue scrapers, when used properly, can eliminate up to 40% of the bacteria from the tongue. As the effectiveness of tongue scrapers becomes more widely known, the market for less effective breath freshening products, such as mints, gums, and sprays, will decline significantly.
Complete Question:
Market Analyst: Recent research confirms that the main cause of bad breath is bacteria build-up on the tongue. The research also concludes that tongue scrapers, when used properly, can eliminate up to 40% of the bacteria from the tongue. As the effectiveness of tongue scrapers becomes more widely known, the market for less effective breath freshening products, such as mints, gums, and sprays, will decline significantly.
Which of the following provides the best evidence that the analyst’s argument is flawed?
(A) Some breath freshening products are advertised to eliminate up to 30% of the bacteria from the tongue.
(B) Tongue scrapers have already been on the market for a number of years.
(C) Many dentists recommend regular flossing, and not the use of the tongue scraper, to combat bad breath.
(D) A recent survey shows that 94% of those who regularly purchase breath freshening products are aware of the effectiveness of the tongue scraper.
(E) Some people buy breath freshening products for reasons other than to fight bad breath.
Answer:
Option D, A recent survey shows that 94% of those who regularly purchase breath freshening products are aware of the effectiveness of the tongue scraper.
Explanation:
The market analyst believes that as the efficacy of the tongue scraper becomes more commonly known, the demand for breath refreshers will decline.
To demonstrate that this reasoning is flawed, one of two hypotheses must be that customers are primarily interested in products which combat bad breath or do not know how effective a language scraper really is.
This argument weakens the claims by challenging one of the key premises in the argument: the efficacy of the tongue scraper is not known to people who use breathing soothing items. When 94% of those who eat Breath-Fresheners use the tongue scraper, and those customers continue to buy Breath-Fresheners items, only 6% of those who eat Breath-Fresheners will vote for a stop buying such goods after discovering the efficacy of the Tongue Scraper in reducing Breathlessness. Even though all six percent stopped shopping for the goods, the demand would hardly be shrinking dramatically.
Prior to attending college, Marvin is offered a lucrative four-year contract as an actor on a daytime soap opera. Assuming that acting and attending college are Marvin's preferred alternatives and that he must choose between these two options, his opportunity cost of attending college after receiving the offer on the soap opera __, making him likely to attend college than before he received the offer. a. stays the same; equally likely b. decreases; more OC. increases; more d. increases; less o e. decreases; less
Answer:
d. increases; less
Explanation:
Based on the information provided it can be said that his opportunity cost of attending college after receiving the offer on the soap opera increases, making him less likely to attend college than before he received the offer. This is because by having another option available he has to choose between both scenario's that he enjoys and give up the other one, thus increasing his opportunity cost but at the same time since he has another option it makes it less likely that he would choose school.
What is a type of organization information systems? A) Executive information system.B) Decisions support system.C) Augmented reality system.D) Transactional processing system.E) Business-facing process system.F) Reengineering system.
Answer:
Executive information system.
Decisions support system.
Transactional processing system.
Explanation:
An organization's information system is a system of the collective process which is designed to capture, analyze, process and share all important data. The main goal behind setting up the organization information system is to achieve the target aim by the effective way.
The categories of a system that the organization information system include are:
Databases
Decisions support system.
Enterprise systems
Global information systems
Expert systems
Information system functionalities, etc.
Marketing executives at Diet Pepsi want to analyze the number of Diet Coke customers who switch to its product when Diet Pepsi is offered at a deep discount. What data would likely show this information?
Answer:
Panel data
Explanation:
A panel data is a multi-dimensional data that is collected over a period of time or multiple times for firms or individuals. It can also be called longitudinal data.
This kind of data usually shows a lot of things at the same time over the period of time that the data is being collected.
I hope this helps.
To assess the switch of Diet Coke customers to Diet Pepsi due to discounts, marketers should analyze sales, consumer surveys, and market share data focusing on the time frame of the promotion.
Marketing executives at Diet Pepsi seeking to analyze the number of Diet Coke customers who switch to Diet Pepsi when it is offered at a deep discount would likely look at sales data, consumer behavior surveys, and market share analysis. Specifically, they would need data on Diet Pepsi sales before, during, and after the promotion, as well as comparable data for Diet Coke.
They would also benefit from consumer behavior surveys that could provide insights into customers' reasons for switching. Observing trends in market share during the discount period could further help to quantify the impact of the discount on customer switching behavior. By correlating this data, they would better understand how price reductions influence customer choices between competing products.
If the same number of units of good Y must be given up as each successive unit of good X is produced, then the PPF for these two goods is_________________.
Answer:
PPF : Downward Sloping Straight Line
Explanation:
PPF is the locus of product combinations that an economy can produce, given resources & technology.
It is downward sloping : Because of inverse relationship between two goods- if one has to be increased other has to be decreased , because of same resources & technology.
Marginal Opportunity Cost (Slope of PPC): is ratio of a good sacrifised to gain each additional unit of the other good.
∆ Good sacrifised / ∆ Good gained
If this ratio is same i.e constant amount of a good is sacrifised to gain an additional amount of the other one , the slope of PPC is constant & it is a straight line
Eg : Good1 Good2 MOC [∆Good2/∆Good1]
0 20 _
10 10 -10/10 = -1 (10-20)/(10-0)
20 0 -10/10 = -1 (0-10)(/20-10)
So , same (1) good 2 is sacrifised to attain a good 1 each time.
However Generally: MOC is increasing , because of assumption that resources are unequally efficient in various goods production - shifting good from efficient to inefficient increases sacrifise each time. This makes PPC usually concave.