Price Elasticity: Price Elasticity is used to explain the degree of responsiveness of the demand for a product to a change in its price. Ep=Percentage change in quality demanded/Percentage change in price (Ep=Price Elasticity) Practical applications of Price Elasticity: 1) Helps in fixing the prices of different goods: It helps a producer to fix the price of his product. A higher price is charged if the demand for the product is inelastic and a lower price is charged if the demand for the product
Premium Supply and demand Price elasticity of demand Elasticity
MANAGERIAL ROLE: 1. INTERPERSONAL ROLES (i). Figurehead role- In this role a manager performs symbolic duties required by the status of his office. Making speeches‚ bestowing honors‚ welcoming official visitors‚ distributing gifts to retiring employees are examples of such ceremonial duties (ii). Leader- This role defines the manager’s relationship with his own subordinates. The manager sets an example :legitimizes the power of subordinates and brings their needs in accord with those of his
Premium Management Government Interpersonal relationship
5. Managerial Grid The x/y axis on the grid consist of two behavior dimensions‚ concern for people and concern for production. Concern for people is the degree to which a leader considers the needs of employees when deciding how tasks or jobs should be done. This can be personal or professional development. This behavior dimension moves along the y-axis. Concern for production is the degree to which a leader emphasizes objectives and productivity goals when deciding how tasks or jobs should
Premium Leadership Management Dimension
incurred in one year are always meaningful in the following year. 2. Which of the following is a product cost? A. Glass in an automobile. B. Advertising. C. The salary of the vice president-finance. D. Rent on a factory. E. Both "A" and "D." 3. The accounting records of Georgia Company revealed the following costs: direct materials used‚ $250‚000; direct labor‚ $425‚000; manufacturing overhead‚ $375‚000; and selling and administrative expenses‚ $220‚000. Georgia’s product costs total: A. $1‚050‚000.
Premium Costs Variable cost Fixed cost
A company’s "macroenvironment" refers to C. All the relevant forces and factors outside a company’s boundaries⎯general economic conditions‚ population demographics‚ societal values and lifestyles‚ technological factors‚ governmental legislation and regulation and closer to home‚ the industry and competitive arena in which it operates Which one of the following is not part of a company’s macroenvironment? E. The company’s resource strengths‚ resource weaknesses and competitive capabilities Which
Premium Strategic management
Midterm – John Doe Executive summary Diva shoes is an international shoes company that is experiencing rapid growth. Due to this rapid growth‚ the company never established a robust hedging strategy to protect itself against fluctuations of the multiple currencies it engages with. This situation became more severe in Japan. The company’s growth in Japan exceeded all expectations‚ and unlike other countries in which the company conducted business (Italy for example) the company had almost no expenses
Premium Forward contract Futures contract Revenue
Article Analysis From Enron to Tyco‚ accounting scandals have always been a worrisome issue in accounting. Regardless of how many internal controls there are‚ there will always be a chance for unethical practices in accounting. Where and when do these problems arise? This paper will analyze an article listing situations that lead to those unethical practices and behavior that lawmakers try to prevent. In his article “What Are the Causes of Ethical Lapses in Accounting‚” Jagg Xaxx writes that business
Premium Sarbanes–Oxley Act Corporate governance Enron
Midterm Examination Earth Science and Society Magan R. Kight The four other major contributors to the development of modern astrology after Copernicus were Tycho‚ Kepler‚ Galileo‚ and Newton. Tycho devised the most precise instruments available before the invention of the telescope for observing the heavens.("The observations of‚" 2010) Kepler developed three laws of planetary motion. He stated that the orbits of the planets are elliptical‚ that the planets revolve around the Sun at different
Premium Planet Galileo Galilei Heliocentrism
____________________________________________________________ _________________________ Spring 2011 CIS115 Introduction to Programming and Logic Midterm Exam ____________________________________________________________ _________________________ ANSWERS [Please do not share these answers with anybody] Question 1 to 15: Choose the best answer. Four points for each question. 1. An algorithm is __________. a) a type of software that analyzes a problem b) a graphical representation
Premium Harvard University College Management
Emad Abdallah BLAW 4344.900 February 3‚ 2013 Assignment 2 Questions and Cases‚ Part 4‚ Chapter 17 1. How important is the role of the U.S. Government Agency in this transaction in relation to the DOJ’s decision? I believe the role of the U.S. Government Agency in the Foreign Corrupt Practices Act Review Opinion Procedure Release 10-01‚ may be somewhat critical. In the case assignment‚ the facts and circumstances‚ as represented by the Requestor are legal and the Department’s conclusion
Premium Foreign Corrupt Practices Act Federal government of the United States Bribery