Officers are all those individual people or staff who manage the corporation's day-to-day operations.
What are the responsibilities of corporate officers?Officers of a corporate entity are important management executives who oversee the day-to-day operations of the company. They are appointed by and report to the board of directors, and they oversee specific industry functions based on their background and expertise.
Is indeed an officer the same as a director?Everything You Have to Know About Officers vs. Directors When comparing an officer and a director, a director is a person who manages important business affairs, whereas officers oversee daily operations. Officers are also directly involved in the day-to-day management of the business.
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3. ______ are defined as goods or services that are required for health and safety.
Occupational Health and Safety are defined as goods or services that are required for health and safety. Information standards are guidelines governing the information that must be provided to consumers when they purchase specific goods.
What is the safety of goods?A safe product is one that delivers either no risk or a minimum tolerable level of risk, taking into account the product's typical or reasonably foreseeable use and the need to maintain a high level of consumer protection.
Occupational health and safety is a multidisciplinary discipline that deals with all elements of workplace health and safety, with a heavy emphasis on preventing workplace dangers.
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Sallie's SandwichesSallie's Sandwichesis financed using 20% debt at a cost of 8%. Sallie projects combined free cash flows and interest tax savings of $2 million in Year 1, $4 million in Year 2, $5 million in Year 3, and $117 million in Year 4. (The Year 4 value includes the combinedhorizon values of FCF and tax shields.) All cash flows are expected to grow at a 3% constant rate after Year 4. Sallie'sbeta is 2.0, and its tax rate is 34%. The risk-free rate is 8%, and the market risk premium is 4%. Using the data for Sallie's Sandwiches andthe compressed adjusted present value model, what is the total value (in millions)? Group of answer choices$72.37 $73.99 $74.49 $75.81 $76.45 Quizlet
Answer:
$76.45
Explanation:
Sallie Sandwiches used hybrid financing which means debt and equity both are used to finance business. The company's cost of financing will be;
Cost of debt : 8% + [ 2.0 * 4%] = 16%
Cost of financing : [0.2 * 8%] + [0.8 * 16%] = 14.4%
NPV discounted at 14.4% is $76.45
How is authority and control distributed in each type of team?
The distribution of authority and control in a team can vary depending on the type of team. In hierarchical teams, authority and control are centralized, with leaders or managers making decisions and exercising control over team members.
In self-managed teams, authority and control are decentralized, allowing team members to have a say in decision-making and take responsibility for their own work.In hierarchical teams, authority and control are typically concentrated at the top, with leaders or managers having the final say in decision-making. They have the power to delegate tasks, set goals, and monitor team members' performance. This centralized structure ensures a clear chain of command but can limit individual autonomy and creativity.
On the other hand, in self-managed teams, authority and control are distributed among team members. Decision-making is more collaborative, with team members actively participating in setting goals, planning, and problem-solving. Each member has a certain level of autonomy and is responsible for their own work, which can enhance motivation and innovation within the team.
It's important to note that the distribution of authority and control may vary across different types of teams and organizations, and hybrid models combining elements of hierarchy and self-management are also possible.
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Consider the four different types of teams. How is authority and control distributed in each type of team? What are the key advantages and disadvantages of each team model? What skills do you consider most important when it comes to teams and teamwork? Which of these skills do you feel you possess and which ones do you need to develop further? Why are larger groups less effective than smaller ones? Why do you think managers tend to overstaff groups and teams?
A person works as a cashier in a major supermarket. She sells vegetables to
customers, including local restaurants that use these ingredients to make
meals for their customers. The supermarket pays the cashier wages for her
work, which she uses to buy her own groceries and pay bills.
When the supermarket in the passage sells vegetables to restaurants, it takes
on which role in the circular flow of goods?
O A. Business market
O B. Resource market
O c. Product market
O D. Household market
Answer: IT B B
Explanation:
Trust the process
When the supermarket in the passage sells vegetables to restaurants, it takes a resource market role in the circular flow of goods. The correct option is b.
What is a resource market?Resource market definition formally refers to a market that furnishes companies, firms, and organizations with the factors of production in exchange for monetary benefits. Resource markets are those which provide businesses with the resources they need to provide the goods or services they offer. In this sense, these markets are more business-to-business than business-to-consumer.
A resource market may also be referred to as a factor market, which economists use to separately refer to all the resources that businesses employ to legally acquire what they need to undertake in the production of goods and services. It can also be termed the input market. Factors of production acquired in the concept or resource/factor markets include labor, capital, and land.
A simplistic definition is that a resource market is a market that provides businesses with the resources they need to produce goods and services.
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Examples of ______ are the AFL-CIO (a union) and the National Federation of Independent Business. Both are voluntary groups with the purpose of advancing member interests. Multiple Choice nonprofit organizations volunteer co-ops mutual-benefit organizations for-profit organizations trade alliances
Answer:
Volunteer co-ops
Explanation:
Examples of VOLUNTEER CO-OPS are the AFL-CIO (a union) and the National Federation of Independent Business. Both are voluntary groups with the purpose of advancing member interests.
The above statement is true because Volunteer co-ops are otherwise known as Volunteer Cooperation is a form of cooperative relationship or establishment in which there are various volunteers involved in the process, whose purpose is to benefit real members or the citizens at large.
Financial markets have the basic function of
A. bringing together people with funds to lend and people who want to borrow funds.
B. assuring that the swings in the business cycle are less pronounced. assuring that governments need never resort to printing money.
C. both (A) and (B) of the above.
D. both (B) and (C) of the above.
The correct answer to the given question is option A. Financial market have the basic function of bringing together people with funds to lend and people who want to borrow funds.
Financial Markets: Financial Markets are a set of markets where financial instruments and securities are traded. Financial markets are basically used for raising funds, investing money, and managing risk. Financial markets bring together people with funds to lend and people who want to borrow funds.Funds: Funds are the pool of money that is collected from many investors to invest in different assets. It may include bonds, stocks, or other securities. Mutual funds and exchange-traded funds are two examples of funds that are widely used in the market. They offer instant diversification at a low cost.To learn more about financial market : https://brainly.com/question/29632908
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During a merger, when company buys another, who should be the beneficiaries of the money paid for the acquired company?
Answer:
Concessions are usually made during merger negotiations, Merger securities are non-cash assets paid to the shareholders of a corporation that is being acquired by or merged with another company.nation:
During which part of the Product Life Cycle would a company use a profit-oriented pricing strategy?
The lifespan of a product depicts how long it remains on the market, from the moment it is first introduced to consumers until it is phased out and taken off the shelves.
What is the maturity stage of the product life cycle?Sales declined during the mature period, a sign that the market has started to become saturated. During this phase of the product life cycle, the price also starts to become competitive. The profit margins become slimmer as a result.
In most life-cycle situations, profits normally reach their greatest level during the early growth stages, but sales often reach their peak during the mature stages.
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Technician A says that an air chisel is used to dress welds.
Technician B says that paintless dent repair (PDR) tools can be used to remove small dents.
Who is right?
O A only
O Bonly
O Both A and B
Neither Anor B
Answer:
B
Explanation:
Technician B is right a pdr can be used to remove dents
According to statement, technician b only is correct. Technician B says that paintless dent repair (PDR) tools can be used to remove small dents. Thus, option (b) is correct.
What is Technician?
The term technician is details of a subject or occupation, a computer technician.
Technician is work of repair and expert of work. It is easily handle problem and resolve solution.
As a result, option (b) is correct.
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when delivering group presentations, which of the following communication tips should a salesperson keep in mind?
The communication tip that a salesperson should keep in mind when delivering group presentations is: The salesperson should avoid reading through slides and other visual aids used in the presentation. The correct option is (b).
Relying heavily on reading directly from slides or visual aids can make the presentation dull and reduce engagement with the audience. Instead, the salesperson should aim to deliver a dynamic and engaging presentation by speaking naturally and using the slides as visual aids to support their key points. They should maintain eye contact with the audience and use their speaking skills to effectively convey the message and build rapport with the listeners.
Thus, the ideal selection is option (b).
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The complete question might be:
When delivering group presentations, which of the following communication tips should a salesperson keep in mind?
a. The salesperson should pace about the room during the sales dialogue.
b.The salesperson should avoid reading through slides and other visual aids used in the presentation.
c. The salesperson should make sure that all disagreements between group members are resolved outside the meeting.
d. The salesperson should stand to the right of the visual aids.
e. The salesperson should always play a passive role in discussions between members of the buying group.
When you receive a loan, the money the lender gives you is called the
Answer:
The Principle
Explanation:
There are two main parts of a loan: The principal -- the money that you borrow. The interest -- this is like paying rent on the money you borrow.
A business will put their funds in a variety of accounts. The funds least likely to be able to be accessed in a given month are _____. (Select all that apply.)
benefit plan funds
operating fund
corporate reserves
pension funds
Answer:
pension funds
Explanation:
Pension funds are investment instruments that accumulate money meant to assist employees in their retirement days. Either the employee, employers, or both contribute money periodically to the pension fund. Pension funds pool resources and invest them in long term projects.
The money in a pension fund is accessible upon retirement. The objective is the give retires a decent lifestyle after their working days are over. Accessing the funds before retirement, such as at the end month, is difficult.
The profit and loss sharing agreement for the A, B, and C partnership provides that each partner receive a bonus of 3% on the original amount of partnership net income if there is a net income. A and B receive a salary allowance of P10,500 and P15,500, respectively. C has an average capital balance of P300,000, and receives a 10% interest allocation on the amount of his average capital account balance. Residual profits and losses are allocated to A, B, and C in their respective ratios of 1:1:2. Compute the share of the net income for each partner for each of the following partnership net income/losses. 1. Partnership Net Income 50,000 2. Partnership Net Loss 20,000
1. For a Partnership Net Income of $50,000, A's share is -$1,875, B's share is -$1,875, and C's share is -$3,750.
2. For a Partnership Net Loss of $20,000, A's share is -$4,750, B's share is -$4,750, and C's share is -$9,500.
1. Partnership Net Income: $50,000
Step 1: Calculate the total bonus pool
The total bonus pool is 3% of the partnership net income, which is 3% of $50,000:
Total Bonus Pool = 0.03 * $50,000 = $1,500
Step 2: Calculate the salary allowance for A and B
A's salary allowance is $10,500 and B's salary allowance is $15,500.
Step 3: Calculate C's interest allocation
C's interest allocation is 10% of the average capital balance, which is 10% of $300,000:
C's Interest Allocation = 0.10 * $300,000 = $30,000
Step 4: Calculate the remaining amount for profit/loss sharing
The remaining amount after deducting the bonus pool, salary allowances, and interest allocation is the profit/loss available for sharing:
Remaining Amount = Partnership Net Income - Total Bonus Pool - A's Salary Allowance - B's Salary Allowance - C's Interest Allocation
Remaining Amount = $50,000 - $1,500 - $10,500 - $15,500 - $30,000 = $-7,500
Step 5: Allocate the residual profits/losses according to the ratios
The residual profits/losses are allocated in the ratio of 1:1:2 for A, B, and C respectively. Since there is a negative amount, it represents a loss, and it will be allocated based on the ratios.
A's Share = (Residual Loss / Total Ratio) * A's Ratio
A's Share = ($-7,500 / 4) * 1/4 = -$1,875
B's Share = (Residual Loss / Total Ratio) * B's Ratio
B's Share = ($-7,500 / 4) * 1/4 = -$1,875
C's Share = (Residual Loss / Total Ratio) * C's Ratio
C's Share = ($-7,500 / 4) * 2/4 = -$3,750
2. Partnership Net Loss: $20,000
The process is similar to the calculation above. However, since it's a net loss, the bonus pool is not applicable, and the remaining amount is distributed as a loss according to the ratios.
Remaining Amount = Partnership Net Loss - A's Salary Allowance - B's Salary Allowance - C's Interest Allocation
Remaining Amount = -$20,000 - $10,500 - $15,500 - $30,000 = -$76,000
A's Share = (Residual Loss / Total Ratio) * A's Ratio
A's Share = ($-76,000 / 4) * 1/4 = -$4,750
B's Share = (Residual Loss / Total Ratio) * B's Ratio
B's Share = ($-76,000 / 4) * 1/4 = -$4,750
C's Share = (Residual Loss / Total Ratio) * C's Ratio
C's Share = ($-76,000 / 4) * 2/4 = -$9,500
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If you use a student loan to pay for college and drop out, the student loan:
a) disappears because you did not finish college
b) become proportional to how long you stayed in school
c) doubles
d) stays the same. you have to pay the loan whether or not you finish school
option D, "stays the same. you have to pay the loan whether or not you finish school" is the correct answer.
Why is it?
You use a student loan to pay for college and drop out, you are still responsible for repaying the loan regardless of whether or not you finished school.
The loan does not disappear, nor does it become proportional to how long you stayed in school or double. When you take out a student loan, you sign a loan agreement with the lender that specifies the terms of the loan, including the repayment terms.
Dropping out of college does not change the terms of the agreement, and you are still obligated to repay the full amount of the loan, plus any accrued interest.
Therefore, it is important to consider the financial implications of taking out a student loan and to have a plan for repayment, even if you do not complete your degree.
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each employee at caras construction earns $251 net and $316 gross per day. caras is accruing vacation pay for 16 employees for the last two days of march; therefore, the journal entry includes a:
The journal entry for accruing pay for 16 employees for the last two days of March would typically include a debit and a credit. Debit: Vacation Pay Expense - $251 * 16 employees * 2 days = $8,032 Credit: Vacation Pay Liability - $316 * 16 employees * 2 days = $10,112
The debit entry to "Vacation Pay Expense" represents the expense Caras Construction incurs for the vacation pay of its employees. The amount is calculated by multiplying the net daily rate of $251 by the number of employees (16) and the number of vacation days (2). The credit entry to "Vacation Pay Liability" represents the liability Caras Construction owes to its employees for the accrued vacation pay. The amount is calculated by multiplying the gross daily rate of $316 by the number of employees (16) and the number of vacation days (2). the specific accounts and amounts may vary depending on the company's accounting policies and chart of accounts. It's always recommended to consult with an accountant or financial professional for accurate and specific journal entries.
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Which examples demonstrate common Production work environments? Check all that apply.
Craig is a self-employed Jeweler who works in his own shop.
Rashida works in a factory making parts for machinery.
Antonio works in a quiet office filing paperwork.
Mei spends most of her time on the telephone.
Norm stands for long periods while welding in a workshop.
Carolyn performs tests on materials in a laboratory.
((answer: A, B, E))
Answer:
The answer is A,B,E
Explanation:
Jus took the test and got a 100
The examples that demonstrate common production work environment are:
Craig is a self-employed jeweler who works in his own shop. works in a factory making parts for machinery.Norm stands for long periods while welding in a workshopWhat is Production work environment?Production work environment is a workplace environment where employees conduct their work. It is where one work, including the workspace and common work areas shared with others.
The above means that production work environment is where people carry out assembling work, production work, etc.
Hence, the examples that demonstrate common production work environment are:
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what professional advice is peter seeking?
Peter wants to buy office space for his new business. However, he’s not sure if the current market is suitable for Brian property. Hence he consulted his ______ agent for advice.
In 18th century, what was the main reason of slow down of Indian Foreign Trade
Answer:
Introduction to India’s Foreign Trade:
Even being a typical poor underdeveloped country, India’s foreign trade was in a prosperous state during the period under review. In terms of volume of trade and the range of commodities entering into trading list, India was better placed compared to other contemporary underdeveloped countries. But that must not be viewed as an indicator of prosperity. Above all, her pattern of trade was definitely different from those of other underdeveloped countries.
India’s composition of trade (i.e., pattern of imports and exports) before 1813 included manufactured goods as well as primary articles in export list and metals and luxury products in the import list. But such pattern of trade was supplanted by the import of manufactured goods and exports of agricultural raw materials and food grains during much of the nineteenth and twentieth century. This must not be the sign of prosperity or cause for jubilation.
Explanation:
Rather, this situation generated much heat and controversy because, instead of being an engine of growth, foreign trade, as engineered by the British Government, exacerbated economic exploitation. It hampered the process of industrialization. It brought untold misery to the masses. Most importantly, of course partly the backwardness of Indian industry and agriculture is ‘the effect of its external trade which moulded into shape the productive mechanism of the country.’
To understand the nature of the controversy it will be fruitful to tell something about the history of India’s foreign trade during 1757 and 1947. The growth of foreign trade during the two centuries can be divided into following unequal periods: 1757 to 1813, 1814 to 1857, 1858 to 1914, and from 1915 to 1947.
The first period—the early years of the British East India Company (EIC)—is known as the ‘age of mercantilism’. During the period under consideration trade statistics is not available. However, some sort of institutional changes in trade took place during this period.
In the mid-18th century, Indian foreign trade was mainly conducted by the English, Dutch, French, and Portuguese traders and merchants. But the revolution of 1757 strengthened the supremacy of the British EIC. In the process, the EIC monopolized trade and ousted the other merchants and traders.
standards that provide cpa firms with guidance to provide reasonable assurance that the firm's engagements are conducted in accordance with applicable professional standards are called
Quality control standards are guidelines that CPA companies can follow to offer a reasonable level of confidence that company's activities are carried out in accordance with current standards.
Why is customer involvement crucial in business?Employee engagement is now more important than ever as a strategic corporate goal since it increases organizational success, long-term employee retention, and employee performance.
What does workplace involvement entail?Employee engagement is described by Gallup as workers' interest in and excitement for their jobs and workplace. You may monitor and manage employee opinions on the critical components of your company culture with the aid of employee engagement.
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How does the way you feel about yourself affect hiw others see you?
I don't think my reality influences how I am viewed by others. It is the other way around, though.
If I ALLOW IT, how people see me will influence how I see myself. It depends on the person in a positive or negative way.
Everyone has their own reality; they have their own vision of how they see themselves and others. If someone is mad at me, then I don't take it personally as much as possible because I know they represent their reality, not mine, to me.
А ________
is a number of connected activities that accomplish a course of action
campaign
contest
commission
Answer:
commisom is the answer to your question
work attitudes are collections of feelings, beliefs, and thoughts that people currently hold about their jobs and organizations group of answer choices true false
The given statement, "Work attitudes are collections of feelings, beliefs, and thoughts that people currently hold about their jobs and organizations," is true (T) because work attitudes reflect employees' subjective experiences and perceptions of their work environment.
This is including their job satisfaction, commitment, and engagement.
Work attitudes are multidimensional constructs that include various dimensions such as job satisfaction, organizational commitment, job involvement, and employee engagement. These attitudes are subjective and reflect employees' experiences and perceptions of their work environment, which can be influenced by a range of individual, organizational, and contextual factors.
Work attitudes are crucial for organizations as they impact employees' behavior, motivation, and performance, and can ultimately affect organizational outcomes such as productivity, turnover, and customer satisfaction.
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Which condition is a result of open competition in a free market system?
A. Poor customer service
B. Government regulation
C. Higher prices
D. Higher quality goods
A result of open competition in a free market system is higher quality goods (option D).
What is the result of open competition?
Competition is when there are many producers operating in a particular industry. Competition is high in purely competitive markets and low in a monopoly. This is because in a pure competition, there are many producers while there is only one producer in a monopoly.
Due to the high level of competition in an industry, prices would be more likely to be low. This is because producers would want to attract more consumers by fairly pricing their goods. Also, producers would want to offer good customer service in order to retain consumers as there are many competing producers in the market. High quality goods are also a way to attract an retain customers.
A free market system is a market system where prices are set by the forces of demand and supply. There is no government regulation in this type of market.
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What is “money” and why does it
exist?
Answer:
Money is a common unit to measure all the goods and services. Also, it acts as a store of value. A farmer who uses perishable items to buy other goods cannot store it and use it in future.
If I am wrong please correct me.
Answer:
Money is an item that is given a specific value by a governmental body. It exists to make trade easier and more convenient, as you can sell an item for money then use that money to get something you want-- much more convenient than bartering between two different goods. Money means that things have a universal value, instead of being worth 200 apples, or a car tire because the merchant needs one right now.
A South Korean electronics company had to add detailed instructions about the repair and replacement of its product to make it easier for the local consumers to maintain it. Which element of the Product Component Model relates to this issue
The element of the product component model that related to this issue is support service.
There are three layers of the product component model that are as follows:
Core component - core product.Packaging component - price, quality, trademark, etc Support service component - repair, replacement, etc.Since the company added the detailed instructions related to the:
repaid & replacement in order to maintain it.So this issue should be related to the support services as the company could support the clients if there is any repair or replacement issue,
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If the supply of money increases, while the quantity of goods and services remains the same, then the price level in an economy would _____.
If the supply of money increases, while the quantity of goods and services remains the same, then the price level in an economy would increase.
This scenario is an example of the quantity theory of money, which suggests that there is a direct relationship between the supply of money in an economy and the price level. According to this theory, an increase in the money supply, without a corresponding increase in the production of goods and services, leads to inflation.
When the supply of money increases, individuals and businesses have more money to spend. However, if the quantity of goods and services available in the economy remains the same, there is a greater demand for these limited goods and services. This increased demand, fueled by the surplus money supply, leads to a rise in prices.
Inflation occurs as the value of money decreases when there is a mismatch between the supply of money and the quantity of goods and services produced. It erodes the purchasing power of money, as more money is required to purchase the same amount of goods and services.
In conclusion, if the supply of money increases while the quantity of goods and services remains constant, the price level in an economy would rise, resulting in inflation.
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True or False. A stockbroker is always required to act in a client's best interests and is held to a fiduciary standard.
Answer: true
Explanation:
All of the following are examples of sources of discretionary financing EXCEPT a. common stock. b. bank loans. c. notes payable. d. trade credit.
All of the following are examples of sources of discretionary financing, except a. common stock.
Discretionary financing refers to the funds a company has available to use at its discretion to finance its operations or investments. These funds can be generated from several sources, including common stock, bank loans, notes payable, trade credit, and other forms of financing that are not mandatory.
Common stock refers to shares of ownership that investors purchase in a company, which affords them the rights to vote on corporate decisions and receive dividends. It is not considered a discretionary source of financing since it involves the sale of ownership in the company rather than the use of discretionary funds.
On the other hand, bank loans, notes payable, and trade credit are all considered discretionary sources of financing because they provide funds that the company can choose to use as needed for its operations or investments.
In conclusion, common stock is not considered a source of discretionary financing, whereas bank loans, notes payable, trade credit, and other forms of financing are examples of discretionary financing that a company may choose to use to finance its operations or investments.
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Both Coca Cola and Benetton are global enterprises. Conduct online research and answer the following questions: What characteristics do these two firms display that qualify them as global enterprises?
Answer: here’s a photo of sample answer
Explanation:
Answer:
Both companies (Coca Cola and Benetton) registered as corporations, and both have a worldwide footprint across a number of countries. Both companies registered under the Companies Act of the respective countries in which they maintain a presence, and both abide by the laws and regulations of each nation.The companies operate on a large scale with huge investments in research and development, machinery, plants, and capital. They have numerous business functions that include marketing, manufacturing, market research, advertising, finance, and many more. They simultaneously work toward their core missions of generating profits, satisfying the needs of their customers, and continuously expanding their presence in current business markets and additional nations. They both raise capital from stock exchange markets.Both firms provide employment opportunities in their host nations and provide good quality products at moderate local rates. They also help in transferring resources such as raw materials and technology from advanced nations to the nations in which they operate.
Explanation:
There are three kinds of individuals in a community: a low risk type (L) whose probability of getting disabled is 5%, a medium risk type (M) whose probability of getting disabled is 10% and a high risk type whose probability of getting disabled is 60%. If they are not disabled, they can earn an income of 500/ and in the case they are disabled they will have an income of just 10/- All individuals are risk averse and have a utility function given by In w, where w is the income. a. What is the actuarially fair premium for types L, M and H respectively? b. What is the maximum premium that the insurance company can charge so that all types choose to buy the insurance, given that the insurance company has no means to tell which individual is of which type? c. Suppose the community has equal number of citizens belonging to each type. If the insurer charges the premium amount you calculated in part b above, what will be its profits?
The insurer's profits would be 1050 units under these conditions.
a. the actuarially fair premium for each type can be calculated by multiplying the probability of disability for that type by the corresponding income loss in case of disability, and adding it to the income in case of no disability.
for type l: (0.05 * (10 - 500)) + 500 = 475for type m: (0.10 * (10 - 500)) + 500 = 450
for type h: (0.60 * (10 - 500)) + 500 = 340
b. the maximum premium the insurance company can charge is the highest actuarially fair premium among the three types, which is 475. this ensures that all types choose to buy the insurance since they would prefer to transfer the risk of income loss due to disability to the insurance company.
c. if the insurer charges the premium amount calculated in part b (475) and the community has an equal number of citizens belonging to each type, the insurer's profits can be calculated by subtracting the expected payouts from the premiums collected.
expected payouts:for type l: 0.05 * 500 = 25
for type m: 0.10 * 500 = 50for type h: 0.60 * 500 = 300
total expected payouts = 25 + 50 + 300 = 375
profits = total premiums collected - total expected payouts
profits = (475 * 3) - 375 = 1425 - 375 = 1050
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