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Economics answers to 155 questions
Answer: C. MIS efficiency and effectiveness When it comes to company productivity and level of performance, management information systems, MIS, plays an essential role. For companies like eBay and Amazon that primarily deal in the marketing aspect of business, the…
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Answer: B. As inflation continues to rise and prices of goods begin to increase, the fiscal value of money continues to drop, causing people to stock up on non-perishable items that need replenishing in the foreseeable future. This means more…
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Answer: C. Statistical and probabilistic components. The six sigma is a collection of tools and methods employed to aid in improving upon any process used in business. Essentially, the sigma six is used to eliminate errors and defects that may…
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Answer: C. Cash budget Explanation: Operating budget refers to the total amount of money required to keep a business running. A sales budget refers to the amount of sales a company estimates to make. A selling expense budget is an…
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Data lifecycle management, DLM is a set of strategies that are established to manage and control storage systems of computer peripherals. This happens by finding the viable compromise between the medium quality and the value of the recorded information. The…
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A certificate of deposit (CD) is a security that certifies the existence of a deposit account with a financial institution such as a bank. An enterprise can buy a certificate of deposit and sell it to anyone. Such certificates are…
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Stocks and bonds are investments that people can make for profit or returns. However, they are different. With stocks, investors own a fraction of the company whereas bonds are taken as loans investors give to a company or organization. Therefore,…
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In economics, scarcity is a concept that shows the disparity that exists between the people’s wants and the available resources. All the choices made according to the prioritized purpose during the allocation of these scarce items. Opportunity costs are, therefore,…
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Economics help a lot in addressing people’s needs. Each society is expected to answer three important economic questions to realize this objective. Here they are: What should we produce How should it be produced For whom should we produce it?…
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Organizations and communities are often faced with different emergencies that can be addressed at the local level or at times may require a collaborative effort from various agencies. The National Incident Management System (NIMS), is a particular framework for managing…
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The law of supply dictates that price and quantity move along a track in the same direction – choice A. when the price of goods goes up, the number of goods is also expected to go high and vice versa.…
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Data points that fall outside of the production possibility curve represent a currently unattainable production – choice D. Usually abbreviated as PPC, a production possibility curve is a representation of the quantity of services and goods that can be produced…
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Living in company towns made union membership more difficult for workers because company stores did not sell goods to workers who joined unions. Company towns had all shops and houses belonging to one organization with the largest group of employees…
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The correct choice is B – Most states had passed some safety laws, but enforcement varied. The workplace safety laws and occupational health measures were not applied leading to harsh working conditions. Most workers got minimum wage but got exposed…
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Bankruptcy allows a consumer to eliminate certain types of debt – Choice B. Filing for bankruptcy absolves an individual of repaying certain types of debt. This can either be credit card charges or personal loans. Simply, bankruptcy is the legal…
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The correct choice is B – The two economic laws exist in theory. They work in practice, but real-world factors can have an effect. The law of demand and supply explains the interactions that exist between buyers and sellers from…
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Buying a bond is a way of loaning money to an organization, which in most cases is a government. Therefore, the correct answer is B. The entity that received the money then pays back with interest. Since bonds are temporary,…
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The lack of competition within a monopoly means that monopoly set their prices. Pure competition in the market allows producers to compete fully when selling similar goods. Therefore, the absence of competition within a monopoly is an indication that the…
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Alcohol advertisements have no effect on how much alcohol is consumed – choice A. With these advertisements, alcohol makers promote alcohol through different media channels. Most of them warn users against excessive drinking that is associated with poor health. Despite…
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The FDA assess the likelihood of financial conflicts of interest (COI) in clinical research. Applicants are required to provide documentation to show their potential financial conflicts to avoid racketeering. The FDA then reviews the financial interests in relation to a…
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Answer: B. An asset is any commodity or item that has the potential of yielding returns for business owners in the future. An owner's equity is not a business asset but the owner's asset.
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Answer: B Globalization is considered a capitalist way of authority that aims at converting local markets and hierarchical structures to a general, global market. The deregulated nature of this system hits a nation's economy the hardest.
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Answer: D. Certificate of deposit. Money market instruments are differentiated by how they attain maturity in less than a year. During this time, a customer is granted loans in exchange for assets that can be traded and recovered in less…
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Following the law of demand, the downward slope signifies that following a decrease in the price or utility of a commodity, the demand for the commodity increases. However, this depends on the purchasing power of the consumer. The downward slope…
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It is always prudent to determine who needs certain goods and services before producing them. This is the best criterion to apply when deciding for whom to produce. Producing items without identifying the market demands will lead to a “struggle-to-sell”…
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Standardization of organizational structures to enhance integration and connectivity is defined by NIMS, which is responsible for dealing with incidents. NIMS is primarily tasked with saving lives, stabilizing actions when accidents happen and protecting the environment. Key components of NIMS…
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Developing countries have a number of challenges to contend with. One issue often facing these developing countries is very high population growth (choice D). The other options given do not hold. Democracy is not easily attainable and if it were…
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An oligopoly is a situation where few companies dominate the market share offering a certain commodity. However, these companies don’t compete against each other on quality and price. There is a high entry barrier for entrants hence there are not…
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Answer: C) It was experiencing steady growth from wartime production. The United States had several benefits from WWII. The country came from the focus of war and fighting and got into the fray following the Pearl Harbor bombing in 1941.…
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City bonds or municipal bonds are issued by city governments when the city or town is seeking funds to finance new projects for the public such as hospitals, highways or schools. Well, a bond is a security debt that is…
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