What is Elasticity? - Elasticity refers to the degree of responsiveness in supply or demand in relation to changes in price. If a curve is more elastic‚ then small changes in price will cause large changes in quantity consumed. If a curve is less elastic‚ then it will take large changes in price to effect a change in quantity consumed. Graphically‚ elasticity can be represented by the appearance of the supply or demand curve. A more elastic curve will be horizontal‚ and a less elastic curve will
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Write-offs | Bad debt expense | Ending balance Accounts Receivable Beginning balance | Write-offs Net Sales | Cash collections Ending balance | (3) Consolidated Balance Sheet ASSETS Current Assets Cash and cash equivalents Short-term investments Inventories Supplies Accounts receivable Less: Allowance for doubtful account Short-term notes receivable Prepaid expenses Total current assets Properties‚ plants &
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|Turnover Ratio | |N.I. Net Income |XA Uncollectable | | |Accounts | | |~A Contra-Asset | | |(negative) | | |$ CASH | Balance sheet |Assets |Liabilities | |Current Assets |Current Liabilities | |Cash |Payable (Account‚ | |Marketable |Note‚Interest‚ | |Securities/Stocks |Salaries‚ Income | |Short Term |Tax)
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Luk’s Tax Cheat Sheet Types of Income and Net Income: Segment A: Employment Income‚ Business Income‚ Property Income‚ Other (alimony) Segment B: Taxable capital gains less allowable capital losses either + or zero Segment C: Other deductions ie. RRSP contribution‚ moving expense‚ etc. Segment D: Employment‚ business or property loss; allowable business investment loss Employment Test: Control Test: An employer has the right to tell an employee what to do‚ when‚ and how Ownership of Tools:
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Market Structure | NumberofSellers | TypeofProduct | BarrierstoEntry? | DemandCurve | Profit Maximization Condition | Perfect Competition | Many | Homogenous | No | Horizontal (perfectly elastic) | MR = MC | Monopoly | One | Unique | Yes | Downward Sloping | MR = MC | Monopolistic Competition | Many | Differentiated | No | Downward Sloping | MR = MC | Oligopoly | Few | Homogenous or Differentiated | Yes | Downward Sloping | MR = MC | The natural monopoly may be regulated through price‚ profit
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Ch. 51- FAP: sequence of behaviors that are usually carried through to completion. Habituation:loss of sensitivity to unimportant stimuli. Associative learning: associating one stimulus with another. Class. Conditioning: association of an irrelevant stimulus with a fixed physiological response. Cognition: animal’s ability to perceive‚ store‚ process‚ and use info. from its sensory receptors. Agonistic behavior: contest to determine which competitor gains access to a resource. Ch. 54- Nitrogen fixation:
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CH10 The government debt totaled 27% of total credit market debt although this number has risen since that time.Mortgages comprised 28%‚ Corporate and Foreign Bonds 22% and Municipal Bonds 5% of total credit market debt in the third quarter of 2008. The issuing company may choose to call the bond and require the bondholder to turn in the bond in exchange for receiving the bond’s call price. A callable bond gives the issuing company the right to call in the bond by paying the bondholder the call price
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Chapter 1 - Organizational Behaviour Theory X & Y (9‚ McGregor‚ 1960) X - dislike work‚ require close supervision‚ interest in security |Y - self-directed‚ seek responsibility‚ creative Human V.S. Social Capital (13‚ Fig 1-2) Human - productive potential of knowledge & actions Social - productive potential of relationships‚ goodwill‚ trust and cooperative effort. Wilson’s Skills Profile of Effective Managers (16‚ Shipper‚ 1995) Clarifies goals & objectives |Encourage participation |Plans
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Cyber Stalking Stalking: series of actions that would cause a person to fear death or injury Spam (Bulk email marketing) Internet version of junk mail Where do they get email addys? - legitimate companies - Newsgroup Extractors - Websites Extractors Avoiding Spam - Use phoney address - Use anonymous remailer - Use “AT” in your email address instead of @. Internet Fraud / Identity Theft Credit Card Fraud: The unauthorized use of credit cards to obtain money or property Common ways
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90%= 1.645 95% = 1.96 98% = 2.33 99% = 2.575 Hypothesis Testing *A credit card company wondered whether giving frequent flyer miles for every purchase would increase card usage‚ which has a current mean of $2500 per year. They gave free flyer miles to a simple random sample of 25 card customers and found the sample mean to be $2542 and the standard deviation to be $109. n= 25 Ho (Claim) µ=2500 OR Ha µ > 2500 *Use t-table n .50 Ha
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