Why do economists classify normal profits as costs?.
Answers
Economists classify normal profits as costs because normal profit is the minimum amount of revenue that a business requires to keep it in operation.
Moreover, normal profits are included in the cost of production and therefore are part of the cost of producing the good or service in question. Below is the main answer and detailed answer for why economists classify normal profits as costs.
In the field of economics, the concept of profits is fundamental. Profits are defined as the difference between a company's revenue and its total costs of production. In other words, they are the rewards that a company receives for the risks that it takes when it produces a product or service.
Profits, on the other hand, may be categorized as either normal or supernormal. Normal profits are defined as the minimum amount of revenue that a business requires to keep it in operation. On the other hand, supernormal profits are those that exceed the minimum amount of revenue required to keep the company in operation. When a company earns supernormal profits, it indicates that there is a competitive flaw in the market because the company is producing more than it needs to satisfy the market's demand.
In addition, normal profits are included in the cost of production and therefore are part of the cost of producing the good or service in question. As a result, economists categorize them as costs because they influence a company's pricing strategy and overall economic performance. Therefore, to make accurate calculations of a company's profitability, economists must account for both normal and supernormal profits.
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Related Questions
What encourages
people to buy
shares in the
ownership of a
private limited
company?
Answers
The dividends encourage the people to buy shares in the company as they would receive a share of the profits made by business they invested in.
How much profit they'll make.
And if the company has a good potential and reputation.
5. The role of government in a market system
a. does not exist
b. is restricted to establishing property rights
C. includes improving situations that would otherwise result in a market failure
d. includes improving on situations that would otherwise result in a government failure
Answers
Which economic tool would most likely be used as part of a contractionary
monetary policy?
A. Lowering the reserve requirement
O B. Raising interest on reserves
C. Buying treasury securities
D. Reducing the discount rate
SUBMIT
Answers
Answer:
O B. Raising interest on reserves
Explanation:
The Federal Reserve expects banks to keep a percentage of customer deposits as reserves. The reserves cater to both the normal and unexpected withdrawals. The Federal Reserve (Fed) also uses reserve requirements as a monetary policy tool.
Interest on reserves is one of the monetary policy tools that the Fed uses regularly. The Fed pays interest on any excess reserves held by the banks. Increasing the interest paid on reserves encourages banks to hold more money. Decreases the interest prompts the banks to lend out more. Contractionary monetary policies are measures aimed at decreasing the money supply in the economy. Increasing interest on reserves increases money held in the banking sectors, thereby slowing down money circulation.
Answer: B. Raising interest on reserves
Explanation:
Just got it right!!!
1. Conduct 360° Feedback/Peer Evaluation
2. Using the four areas of Personal Scorecard set one long term goal in each area (4)
3. Using the SMART goal criteria set at least 2 short term goals (objectives) for each of your long-term goals (i.e – distributed across objectives and how SMART those are)
Answers
In the 360° feedback/peer evaluation process, four areas of the Personal Scorecard are considered. In each area, a long-term goal is set. For professional development, the goal is to obtain a leadership position by completing a leadership training program and attending industry events.
For personal growth, the goal is to improve time management skills through task prioritization and stress management techniques. Team collaboration is focused on by organizing team-building activities and initiating knowledge-sharing sessions.
Lastly, in customer focus, the goal is to enhance customer satisfaction through implementing a feedback system and conducting customer service training. Each goal is supported by two short-term goals that are SMART (Specific, Measurable, Achievable, Relevant, and Time-bound), ensuring clear objectives and increasing the chances of success.
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What's the answer I need help ASAP!!
Answers
Answer:
B
Explanation:
Cain Company reports net cash provided by operating activities of $35,000. It also reports the following information under “Adjustments to reconcile net income to net cash provided by operating activities” on its statement of cash flows (using the indirect method).
Answers
It can be seen from the solutions given that Cain's net income is $24,000.
Here is the solution:Net income = Net cash provided by operating activities - Adjustments
= $35,000 - $6,000 - $10,000 + $4,000 + $7,000 + $4,000
= $24,000
Therefore, Cain's net income is $24,000.
Here is a breakdown of the adjustments:
To determine cash flow from operations, it is necessary to include the gain on equipment sales in the net income as it is a non-cash entry.
A rise in accounts receivable implies that customers are prolonging payment of their invoices, resulting in decreased cash flow from the company's activities.
The depreciation expense is classified as a non-cash expense, hence it must be included in the calculation of cash from operations by adding it back to the net income.
A decrease in inventory indicates that the company is experiencing faster turnover of its inventory, leading to increased cash flow generated by its operations.
A rise in prepaid expenses denotes that the company is channeling more funds towards prepaid expenditures like insurance and rent, implying a reduced cash inflow from its operational activities.
A decline in the amount of wages that the company owes indicates that it is not promptly compensating its workforce. Consequently, this implies that the company's operational cash flow is reduced.
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Lily is involved in the
part of the selling process.
Answers
Answer: selling process
Explanation:
Here are seven steps that are typically involved in making a sale:
1. Prospecting
2. Preparation or pre-approach
3. Approach
4. Presentation
5. Handling objections
6. Closing
7. Follow-up
I don't have moey. What is the best job to get when you're in middle school?
Answers
Answer:
You can work at publix as a cashier. They acept 14 year olds. And ur in 8th grade as 14 which is in middle school.
Explanation:
This is the best job u can get as a kid
also brainlist me pls
For a company with a product mix of 40 percent of product B and 30 percent each of products A and C, which of the following mixed-model sequences best reflects the lean philosophy? (Write the multiple choice letter that indicates your answer in excel) A.
BBAACCABBC
B.
AAABBCCCBB
C.
BBBBAAACCC
D.
ACBACABCAB
E.
BACBACBACB
Answers
This reflects the lean philosophy because it minimizes waste and maximizes efficiency.
Here correct answer is E. BACBACBACB
It follows an alternating pattern of the three products so that the production line does not become blocked or clogged. This pattern also reduces the number of changes that need to be made to the production line. It also reduces the time needed to switch between products, as well as the number of parts that need to be inventoried.
In addition, it allows for quick and easy changes in production when needed, as changes to the sequence can be made quickly and easily. This pattern also reduces the cost of production, as it eliminates the need for additional equipment or employees to switch between products. Finally, it allows for an even distribution of products throughout the production line, which helps to reduce the amount of rework that needs to be done.
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a key way that objects are used to manipulate people comes through group of answer choices stealing and various kinds of fraud advertising commodity fetishism austerity
Answers
A key way that objects are used to manipulate people is through advertising.
Advertising is a powerful tool that companies and organizations use to influence people's behavior and manipulate their choices. Through advertisements, objects are presented in a way that creates desire and influences consumer decisions. Advertisements often use persuasive techniques such as appealing to emotions, creating a sense of urgency, or associating products with desirable qualities or lifestyles.
For example, let's consider a smartphone advertisement. The company may showcase the phone's sleek design, advanced features, and powerful performance. By highlighting these qualities, the advertisement aims to create a desire for the object and manipulate people into believing that owning the smartphone will enhance their lives.
By understanding the tactics used in advertising, individuals can develop critical thinking skills to analyze and evaluate these messages. It is important to be aware of the persuasive techniques employed in advertising and consider if the product truly meets their needs or if it is an attempt to manipulate their choices.
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Can someone write a 5 paragraph of a writing an argument and it gotta be two things to argue about
Answers
A argument that can be written about two things in the United States include the issue of gun rights and social security spending.
What are some pressing issues in the United States?When writing an argument and you need a good topic, look at the pressing issues in your country at that time. For the United States, gun rights and social security spending are quite notable.
For the issue of gun rights, there are those who support gun rights because they believe that it allows them to protect themselves. Some even argue that the more people have guns, the less there will be gun violence because people will be more conscious of using their guns fearing they could be shot.
Then there are those against rights. They argue that nations that have fewer guns have fewer mass shootings and instances of gun related violence. They therefore want that for the United States.
Another argument would be that of social security spending. Those who support it say it is only right to provide for the elderly in society.
Those opposed to social security spending believe that it is costing the nation much too much. They argue that these are funds the government could use in other sectors. They advocate for more private retirement saving.
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PLEASE HELP MEEEE PLEASE!!!!!!!!!!!!!!!!!
Which of these describes an aspect of a product benefit?
Answer Choices:
A. Appeal to our senses
B. The advantages of product features
C. Relate to the quality of the merchandise
D. Physical in nature
Answers
Answer:
B or C, probably B
Explanation:
Please help me, I'm in a test. Which of the following is an example of an activity in the follow-up stage of personal selling?
A. Helping a prospect arrive at a purchase decision
B. Making it easy to reorder supplies
C. Treating a prospect's concerns as a natural part of the decision process
D. Trying to meet a prospect's conditions
Answers
Answer:
B Making it easy to reorder supplies
Explanation:
An example of the activity in the follow-up stage of personal selling is through making it easy to reorder the supplies. Thus option B is correct.
Waht is perosnal selling ?Personal selling is called as the face to face selling and includes the one person who is the salesman and tries to convince the customer to buy the product through his skills and abilities.
The aim of personal selling is to make a profit and to initiate a sale and there generate revenue.
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Local communities are stakeholders of organizations because communities Local communities are stakeholders of organizations because communities rely on the tax base from companies and the jobs the company provides. True or False?
Answers
Communities in the local area are involved in organisations as stakeholders because As a result of their reliance on taxes, local communities are stakeholders in organisations.
What community means?
What exactly is a community? A community is a social group whose members have something in common, such as a common government, location, culture, or heritage. The term "community" can also be used to describe the actual place where such a group resides.
An Indian child's tribe or the community in which their parents or extended family members reside, or with which they have social and cultural links, is referred to as the Indian community. Example 1
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how can we build up strong analytical skill discuss
Answers
Answer:
hope help you
Explanation:
Here are several ways you can improve your analytical skills:
Read more. An important part of being analytical involves being alert and remaining stimulated. ...
Build your mathematical skills. ...
Play brain games. ...
Learn something new. ...
Be more observant. ...
Join a debate club. ...
Take an exercise class. ...
Keep a journal.
Create a Business Model Canvas for Innovative Marketing
Agency
(Marketing agency creates ads using holograms)
Answers
The Business Model Canvas (BMC) is a visual representation of the business model of an organization. BMC is a strategic management template that can be used to develop new business models or evaluate existing ones. BMC allows a company to describe, design, and evaluate a new or existing business model effectively. The following is a BMC for an innovative marketing agency that creates advertisements using holograms.
Key Partners
- Partners who supply hologram-related technologies
- Clients
- Marketing firms
- Advertisers
Key Activities
- Design and produce hologram-related advertisements
- Develop marketing campaigns
- Create market reports
- Develop and deliver new products/services
Value Proposition
- Provides innovative advertisement solutions using hologram technology
- Innovative advertising campaign development and implementation
- Customized market reports
- Provides a competitive advantage to clients
Customer Relationships
- Personalized advertising solutions
- Feedback and review
- Dedicated account manager
Customer Segments
- Advertisers
- Marketing firms
- Companies and organizations
- Small business owners
Key Resources
- Hologram-related technologies
- Skilled human resources
- Customer database
- Marketing and advertisement expertise
Channels
- Online advertisements
- Social media advertising
- Printed advertisements
- Events and conferences
- Exhibitions
Cost Structure
- Salaries and wages of employees
- Technology and equipment
- Research and development
- Office space
- Advertising and marketing expenses
Revenue Streams
- Service fees
- Advertising and marketing fees
- Commissions from partner sales
- Royalties from the use of hologram technology.
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Clothing designed for people with mobility or sensory challenges is called: Accommodation Attire Adaptive Clothing Perceptive Clothing Flexible Attire
Answers
Clothing designed for people with mobility or sensory challenges is called Adaptive Clothing. Option B
What is adaptive clothing?Adaptive clothing is clothing designed to meet the needs of people with physical or cognitive disabilities. It is designed to be comfortable, functional, and easy to wear for people who may have difficulty dressing themselves due to mobility, sensory or other challenges.
Adaptive clothing is designed to be comfortable, functional, and easy to wear for people who may have difficulty dressing themselves due to physical or cognitive limitations. It may feature adaptive features such as Velcro or magnetic closures, open-back or side-zippered shirts and pants, and other modifications that make it easier to put on and take off.
Adaptive clothing is designed for people with mobility or sensory challenges to provide people with disabilities greater independence and a better quality of life.
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A company acquires land for $150,000 cash. Additional costs are as follows: Removal of shed, $200 Filling and grading, $2,000 Salvage value of lumber of shed, $80 Broker commission, $5,000 Paving of parking lot, $15,500 Closing costs, $1,200. The company should record the acquisition cost of the land as
Answers
The company should record the acquisition cost of the land as: $150,000 (cash paid) + $200 (removal of shed) + $2,000 (filling and grading) + $1,200 (closing costs) = $153,400.
The acquisition cost of the land should include all costs that are directly related to its acquisition and preparation for its intended use.
In this case, the company paid $150,000 cash to acquire the land, and additional costs of $200 for the removal of the shed, $2,000 for filling and grading, and $1,200 for closing costs should be included in the acquisition cost.
However, the salvage value of the lumber of the shed and broker commission are not considered part of the land acquisition costs since they are related to the disposal of the shed and the services of a broker, respectively. The cost of paving the parking lot is considered a cost related to improving the land, but it is not part of the land acquisition cost since it is considered a separate asset.
Therefore, the company should record the acquisition cost of the land as:
$150,000 (cash paid) + $200 (removal of shed) + $2,000 (filling and grading) + $1,200 (closing costs) = $153,400.
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Suppose that a worker in Cornland can grow either 40 bushels of corn or 10 bushels of oats per year, and a worker in Oatland can grow either 5 bushels of corn or 50 bushels of oats per year. There are 20 workers in Cornland and 20 workers in Oatland. If the two countries do not trade, Cornland will produce and consume 400 bushels of corn and 100 bushels of oats, while Oatland will produce and consume 60 bushels of corn and 400 bushels of oats. If each country made the decision to specialize in producing the good in which it has a comparative advantage, then the combined yearly output of the two countries would increase by
Answers
Answer:
see. I hope it's helpful for you lolExplanation:
i need friend lol can you my friend
Suppose a consumer buys a frozen cheese pizza at the grocery store at a price of $10. The frozen pizza company sold the pizza to the store for $5. The frozen pizza company purchased the pizza dough and tomato sauce from a food processing company at a price of $2 and bought the cheese from a dairy at a price of $1. How much has GDP increased
Answers
Answer:
Only the market value of new finished goods are included in the GDP, so $10 would be added.
Explanation:
Imagine a company that produces furniture. If we would include the wood, the nails, the wood paint, etc., were included in the calculation plus the furniture itself, you would be double-counting the cost of the manufactured furniture. If you consider waste materials, then you would be adding even more costs. That is why you only consider finished goods.
Select the correct answer.
Employees of ABC company uploaded files on a shared server with unique file naming conventions. However, they faced problems while
locating these files. Which file naming convention caused this problem?
ОА
Use of the YYMMDD format while naming the file.
OB
Use of capital letters while differentiating words in the file name.
Ос.
Inconsistent file naming conventions.
OD
Use of unnecessary word in the file names.
Answers
Answer:
A is the answer
Explanation:
Answer:
А:
Use of the YYMMDD format while naming the file.
Explanation:
PLATO / Edemtum
Derick wants to purchase an existing business in the service industry. However, he does not want to use the traditional sources of information that entrepreneurs generally use to make the purchase. Which of these statements refers to an alternative source that Derick can use to locate businesses up for sale?
A.
He could hire the services of a business brokerage company.
B.
He could refer to websites that provide such details.
C.
He could contact businesses through details provided in trade magazines.
D.
He could ask his accountants and lawyers if any of their other clients want to sell their businesses.
E.
He could refer to “business for sale” advertisements listed in the classified sections of newspapers.
Answers
Answer:
The answer is D
Explanation:
I got it right on my quiz. :)
NEED HELP!!
Taxes are payments to the blank the are required by law. You need to file a tax return each blank.
Answers
Answer:
year
Explanation:
Answer:
Government and year I believe
What is the maximum output that the economy can sustain over a period of time called? O A. productive capacity O B. economic output O C. controlled incentive O D. maximum spending
Answers
Answer:
A. Productive capacity
Explanation:
Job descriptions list every task an employee will be responsible to perform.
False
True
ANSWER IS FALSE, got 100% on edge
Answers
i was a well rounded and valued employee. i honestly shoulda been paid more than 10.00 at burlington and 12.25 at pollo >:(
question 1.4. create an array called resampled slopes that contains the slope of the best fit line for 1000 bootstrap resamples of birds. plot the distribution of these slopes
Answers
To create an array called "resampled slopes" and plot the distribution of these slopes, we need to use bootstrap resampling to create multiple samples of the data, then calculate the slope of the best-fit line for each of these samples. Option B correctly describes this process.
Option A is incorrect because it describes the creation of an array called "resampled slopes" and the calculation of the slope of the best-fit line for 1000 bootstrap samples, but it doesn't store the slope values in the array or plot their distribution.
Option C is incorrect because it describes the creation of an empty array called "resampled slopes" and the calculation of the slope of the best-fit line for a sample of birds and 1000 bootstrap samples, but it doesn't store the slope values in the array or plot their distribution.
Option D is incorrect because it describes the calculation and plotting of the distribution of the slopes for 1000 bootstrap samples, but it doesn't store the slope values in an array called "resampled slopes".
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Complete question:
Which of the following options correctly describes the steps taken to create an array called "resampled slopes" and plot the distribution of these slopes?
A) Use a linear regression model to calculate the slope of the best-fit line for a sample of birds. Create 1000 additional random samples of birds using bootstrap resampling. For each of the 1000 bootstrap samples, calculate the slope of the best-fit line. Save the 1000 slopes as an array called "resampled slopes" and plot their distribution.
B) Create an empty array called "resampled slopes". Use a bootstrap resampling technique to randomly select 1000 samples of birds. For each of the 1000 bootstrap samples, use a linear regression model to calculate the slope of the best-fit line. Append each slope value to the "resampled slopes" array. Finally, plot the distribution of the 1000 slopes.
C) Create an empty array called "resampled slopes". Use a linear regression model to calculate the slope of the best-fit line for a sample of birds. Create 1000 additional random samples of birds using bootstrap resampling. For each of the 1000 bootstrap samples, calculate the slope of the best-fit line and append each slope value to the "resampled slopes" array. Finally, plot the distribution of the 1000 slopes.
D) Use a linear regression model to calculate the slope of the best-fit line for a sample of birds. Create 1000 additional random samples of birds using bootstrap resampling. For each of the 1000 bootstrap samples, calculate the slope of the best-fit line and plot their distribution. Save the 1000 slopes as an array called "resampled slopes".
when smart electric condensed all its parts factories into one large location, the company increased research and development and customer service, and decreased its sales force. how would this practice help the company to become a low-cost producer?
Answers
As smart electric condensed all its parts factories into one large location, the company increased research and development and customer service, and decreased its sales force, this practice would help the company smart electric condensed all its parts factories into one large location, the company increased research and development and customer service, and decreased its sales force by constructing efficient large-scale facilities.
Smart Electric condensed saw the potential for not only a cost savings, but also an improvement in their operations when they decided to consolidate all their parts factories into one large location.
This move enabled them to increase their research and development, as well as their customer service, while simultaneously decreasing their sales force.
This was accomplished by constructing efficient large-scale facilities that allowed for the production of all their parts under one roof. The cost savings and increased efficiency enabled them to better serve their customers and make better use of their resources.
As a result, Smart Electric has been able to provide its customers with quality products and services, while reducing its overhead costs.
The consolidation of their parts factories into one large location has been instrumental in allowing Smart Electric to succeed.
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In a typical month, the Warren Corporation receives 140 checks totaling $113,500. These are delayed four days on average. What is the average daily float
Answers
The average daily float of Warren Corporation is $400. Float refers to the amount of time a check takes to clear from the issuer’s account and deposited into the recipient's account.
The average daily float can be calculated using the following formula:Average Daily Float = (Total Float Amount / Number of Checks)Average Float = Delay in Clearing + Delay in DepositingTotal Float Amount = Delay in Clearing * Total ChecksThe total float amount is determined by multiplying the delay in clearing and the total number of checks. Therefore, the float amount for Warren Corporation can be calculated as follows:Float Amount = Delay in Clearing * Total Checks= 4 * 140 = $560To determine the average daily float for Warren Corporation, divide the total float amount by the number of checks. Therefore:Average Daily Float = (Total Float Amount / Number of Checks)= $560 / 140= $4
Therefore, the average daily float for Warren Corporation is $400.
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What is institutional advertising focused on promoting?
A. A company
B. The Internet
C. A service
D. A good
Please select the best answer from the choices provided
Answers
Answer:
Product advertising focuses on promoting specific individual products while institutional advertising focuses on your overall brand
Answer:
A. A company
Explanation:
Right on EDGE 2021
When riding his bicycle, Jeremy always consumes bottles of water and granola bars in fixed proportions. His utility function is
Answers
=min{,12}u=min{W,12G}, where W is the number of bottles of water and G is the number of granola bars
Economics mimics worth or value using the concept of utility. Its application has drastically changed over time. Moral philosophers like Jeremy Bentham and John Stuart Mill were among the first to use the phrase to describe pleasure or happiness as a part of the utilitarianism hypothesis. The phrase has been modified and used to refer to a utility function that represents a single consumer's preference ordering over an option set but is not comparable across individuals within neoclassical economics, which governs contemporary economic theory. Although this definition of utility is more stringent than the original, moral judgments find it less useful (and disputed) because it is subjective and depends more on choice than on pleasure. Think about a few different options.
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