Which of the following describes a​ business-to-business, or​ organizational, market?
A. Purchases involving competitive​ bidding, price​ negotiations, and complex financial arrangements
B. Demand based on consumer needs and preferences that is generally​ price-elastic, steady over​ time, and independent of demand for other products
C. Purchases for individual or household consumption
D. Many individual or household customers
E. Purchases frequently made on impulse

Answers

Answer 1

Purchases involving competitive​ bidding, price​ negotiations, and complex financial arrangements describe a​ business-to-business, or​ organizational, market.

What is business-to-business?

Business-to-business (B2B), sometimes known as B-to-B, is a type of transaction that takes place between businesses. Examples include a transaction between a manufacturer and a wholesaler or a wholesaler and a retailer. In contrast to doing business with a single consumer, business-to-business refers to transactions between businesses. The terms "business-to-business" and "business-to-government" refer to different types of transactions. In a normal supply chain, business-to-business interactions are frequent as companies buy products and components, like other raw materials, to be used in manufacturing operations. After that, finished goods can be sold in business to consumer transactions to private individuals.

Business-to-business refers to communication strategies that enable staff members from various organisations to get in touch with one another, such as social media.

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Related Questions

In which serving style do the consumers serve themselves the main course food items displayed in utensils in the food area

Answers

In the serving style you described, the consumers are likely being served in a buffet style.

In a buffet, food items such as the main course are typically displayed in serving utensils in a designated food area, and consumers serve themselves by taking the desired amount of food from the utensils.

Buffet-style service is often used in situations where a large number of people are being served, such as in a banquet or a cafeteria.

This style of service allows for greater flexibility and choice for the consumers, as they can choose from a variety of dishes and control the amount of food they take.

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Which of the following lists represents the order of levels of strategy from the top of the organization downward? Multiple Choice executive, functional, practical business, operational, corporate corporate, practical, business corporate, business, functional

Answers

The order of levels of strategy from the top of the organization downward is corporate, business, and functional.

The order of levels of strategy from the top of the organization downward is:

CorporateBusinessFunctional

Corporate strategy is the overall plan for the organization, determining the direction, scope, and resource allocation for the entire enterprise. Business strategy is the plan for a specific business unit or product line within the organization, focusing on how to compete and succeed in a specific market. Functional strategy is the plan for a specific function or department within the business unit, focusing on how to support and align with the overall business strategy.

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In which of the following will equilibrium prices will spontaneously establish themselves, persisting until the forces of supply and demand change

Answers

The competitive market is the one wherein the equilibrium prices tend to spontaneously establish themselves, while also persisting until the forces of supply and demand are affected by the changes.

A competitive market can be easily interpreted as a type of market structure, which includes a number of buyers as well as sellers without many restrictions being imposed for their entry and exit from the market. Due to equal forces of demand and supply, there is usually an equilibrium in the market prices in such an economy where competition exists.

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Complete question

In which market structures will the equilibrium prices will spontaneously establish themselves, persisting until the forces of supply and demand change?

The process where responders analyze the problem and assess potential outcomes best describes which of the following tasks

Answers

The correct answer is response ideal( strategy) to achieve a  result to the brazened problems. This process allows askers to break a complex and potentially inviting response down into pieces to prop decision timber.

The thing is to ensure pollee health and safety while mollifying extremities.  A  threat assessment is a written document that records a three-step process:

1 Relating the plant hazards in the plant( s) under your control.

2 Assessing the pitfalls presented by these hazards.

3 Putting control measures in place to reduce the threat of these hazards causing detriment.  

The information must be in jotting, in English, and presented on a shipping paper or affiliated shipping document. The offeror of response ideal( strategy) ensures that the exigency response information is current, correct, and accurate.

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What are the 4 types of assets?

Answers

There have previously been three main asset classes, however today's financial experts widely concur that there are four major asset classes:

Equities (stocks)

debt and fixed income (bonds)

Cash equivalents and money markets.

Real estate and material possessions.

Which financial asset classes are the safest?

Financial assets, sometimes referred to as financial instruments or securities, are an example of intangible assets. They are widely used as a means of financing the purchase of moveable assets like machinery and real estate. Some of the safe asset categories that have traditionally been utilized often include real estate, cash, Treasury bills, money market funds, and mutual funds that invest in U.S. Treasury securities. Risk-free investments, such as national debt instruments issued by industrialized country governments, are considered the safest investments.

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Which of the following is one of the main reasons that transportation costs in the US have declined as a percentage of GDP: a. Most items are shipped from overseas.
b. We store more inventory in more locations now, so we don't move it as far.
c. Improved transportation efficiency/ leaner.
d. All of the above

Answers

The correct answer is option C.  Improved transportation efficiency/ leaner is one of the main reasons that transportation costs in the US have declined as a percentage of GDP.

How transportation costs affect trade?

In terms of the varying quality or value to weight ratio of the items, transportation expenses have an impact on the volume of commerce. A rise in transportation expenses will boost the price of low-quality goods proportionately more than high-quality goods because they account for a higher amount of their price. As a result, customers in export markets frequently choose high-quality products with stable prices.

Similarly, if the weight of both high and low value-to-weight ratio commodities is unchanged, the price of low value goods will be heavily influenced by transportation costs. In order for the increase in transportation costs to have a greater effect on low-value commodities.

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A linear downward sloping demand curve has price elasticities (in absolute values) that
A) remain constant along the demand curve
B) increase as price decreases
C) decreases as price decreases
D) are greater or equal to 1

Answers

Price elasticities (in absolute values) on a demand curve with a linear downward slope (C) fall as price declines.

What Leads to a Downward Slope?

Demand for a  is defined as the consumer's desire to purchase it, supported by his purchasing power and willingness to pay the price. According to the law of demand, the relationship between a commodity's price and demand is inversely proportional. Demand for a commodity declines as its price rises.

Similar to this, demand rises when a commodity's price drops. The law of demand makes the assumption that the productother variables influencing a commodity's demand remain constant.

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A pure monopolist's short-run profit-maximizing or loss-minimizing position is such that price
a. always exceeds ATC.
b. equals marginal revenue.
c. will always equal ATC.
d. will vertically intersect demand where MR = MC.

Answers

A pure monopolist's short-run profit-maximizing or loss-minimizing position is such that price will vertically intersect demand where MR = MC. Therefore option D is correct.

What is monopolistic market ?

A monopolistic market is a type of market structure in which there is a single seller (monopoly) that produces and sells a unique product or service, with no close substitutes. The monopolist has significant market power, allowing them to set prices and control the quantity of goods and services produced. Unlike a pure monopoly, there may be a few close substitutes in a monopolistic market, but the monopolist still has significant control over the market. In a monopolistic market, the firm has some degree of control over price, but not as much as a pure monopolist. The firm will face a downward sloping demand curve, and will have to take into account the impact of changes in price on the quantity demanded of its product. This is different from a pure monopoly, in which the firm is the only producer of a good or service and can set prices without fear of competition.

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On January 3, ATA Company purchases a copy machine for $11,500. The machine is expected to last five years and have a salvage value of $1,500. Compute depreciation expense for the first year, assuming the company uses the straight-line method.

Answers

If the business follows the straight-line technique, the depreciation expense for the first year will be $2,000.00. The ATA Company spends $11,500 on a copier on January 3.

A corporation, sometimes known as co, is a legal designation for a group of people with a particular goal who are either naturally occurring, legally created, or a combination of both. Members of the company collaborate to accomplish clearly stated objectives. This device is intended for regular use. It should be a multifunctional copier that is ideal for a small business, school, or home office. It also offers seamless connectivity with copiers, laser printers, and fax machines for everything from faxing forms to copying flyers or printing papers.

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What are the three reasons that companies import?
Product demand, competitive advantage, and custom duties
Product demand, lower costs, and production inputs
Competitive advantage, product demand, and production inputs
Competitive advantage, lower costs, and custom duties

Answers

D I think I could be wrong lmk

Which of the following comparisons best isolates the impact of a change in activity on performance?
A) static planning budget and flexible budget
B) static planning budget and actual results
C) flexible budget and actual results
D) master budget and static planning budget

Answers

Static planning budget and flexible budget isolates the impact of a change in activity on performance.

What is the Flexible budget ?

A flexible budget is essentially a budget that allows for expected unpredictability and can be adjusted as revenues and costs change throughout the fiscal year. A business first calculates its expected fixed costs, or at least the costs that are expected to remain unchanged throughout the year.

What is main purpose of a flexible budget?

Flexible budgeting makes it easier to update budgets that don't yet have firm figures for revenue or other activities. In this approach, managers authorize all fixed costs and variable costs related to revenue and other activity indicators.

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Which of the following is not a reason people choose to depend on others for goods and services?
a. To improve their lives
b. To allow them to enjoy a greater variety of goods and services
c. To consume more of each good without working any more hours
d. To allow people to produce outside their production possibilities frontiers

Answers

The choice d is correct. to let people produce outside the boundaries of their production possibilities.

The Production Possibility Frontier (PPF): What Is It?

A curve on a graph called the production possibility frontier (PPF) depicts the potential quantities of two products that can be produced from the same finite resource. Additionally known as the production possibility curve, the PPF

In economics, PPF also plays a crucial role. It can, for instance, demonstrate that a nation's economy has achieved maximum efficiency.

A company can plot points on a graph to represent the number of products made with variables based on the amounts of resources available when deciding how much of each product to produce. Keeping in mind that resources are limited, resources must be diverted from one product to produce more of it.

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Music Masters, Inc., enters into a contract to pay Nagi for a dozen original songs. Nagi transfers the right to payment under the contract to Omni Artists. After the transfer, Nagi's contract right to the payment is

Answers

Nagi’s contract right to the payment is extinguished.

The simplest definition of a contract is a legally binding commitment. This pledge might be to refrain or carry out a specific action. A contract is created by at least two parties who must concur on its terms. If either side violates their promise, the other party may take legal action. The law of contracts considers a number of factors, such as whether a contract genuinely exists, what it means, whether it was broken, and how much money the party who was wronged is entitled to. A contract's main purpose is to formalise new relationships and specify the legal responsibilities each party has to the other. Today, most contracts are negotiated by businesses rather than by people. even if occasionally businesses routinely enter into contracts with partners, clients, and suppliers, much like individuals would when selling a home or accepting a job offer. Every corporate relationship is, in fact, backed by legal contracts.

Music Masters Inc. enters into a contract to pay Nagi for a dozen original songs. Nagi transfers the right to payment under the contract to Omni Artists. After the transfer, Nagi’s contract right to the payment is

A. unaffected.B. extinguished.C. conditional.D. secondary.

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What problems can be solved by algorithmic?

Answers

Any form of problem, be it mathematical, logical, or complicated, can be addressed by an algorithm.

What issues are algorithms unable to resolve?An algorithm cannot address either of two types of issues. Unsolvable issues. Theoretically, no algorithm could possibly address these issues. The halting problem is an intractable decision problem (with a yes/no response).Any form of problem, be it mathematical, logical, or complicated, can be addressed by an algorithm. Example: Depth-first search, salesmen on the road, sorting formulas, etc. However, the algorithm would arrive at a finite answer after a number of steps before coming to an end.There are several recognised to be formally undecidable issues, therefore there is no technique that can fully resolve them.

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Which sentences identity the investing activities of a cash slow statement?
Tyler Enterprises has achieved remarkable growth in the past five years. Qualified accountants have prepared and analyzed the cash flow statement to
offer financial advice to help safeguard the future of the business. It includes details of the amount of cash flowing into and out of the business. The
statement begins with the amount of revenue that the sales team has brought in. It also involves the corresponding marketing campaign costs incurred
in the promotional exhibition. The profit was declared to the shareholders in the form of dividends. The production team undertook projects that involved
installation of automatic botting machines. New dishwashers were installed in the cafeteria as part of an efficiency improvement project. The stakes of
an old division of packing material were sold off in order to concentrate solely on present business. Old investors were issued stocks when their
convertible bonds attained maturity. Some of the old machineries in the production line were sold off as scrap while rest was revamped

Answers

The sentences that identify the investing activities of a cash slow statement are - The production team undertook projects that involved installation of automatic botting machines. New dishwashers were installed in the cafeteria as part of an efficiency improvement project. The stakes of an old division of packing material were sold off in order to concentrate solely on present business. Some of the old machineries in the production line were sold off as scrap.

What are investing activities?

Investing activities include the acquisition of physical assets, the purchase of securities, and the sale of securities or assets. Cash flow from investing activities includes long-term cash uses.

Negative cash flow from investing activities may not be a bad sign if management is investing in the company's long-term health.

Therefore, the sentences mentioned above identity the investing activities of a cash slow statement.

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Answer:

"The production team undertook projects that involved installation of automatic bottling machines. New dishwashers were installed in the cafeteria as part of an efficiency improvement project" and "Some of the old machines in the production were4 sold off as scrap while rest was revamped."

Explanation:

I got it right on plato

What is President Roosevelt's stated purpose for issuing this executive order?

Answers

Franklin D. Roosevelt signed this order on February 19, 1942, allowing the transfer of all individuals deemed to pose a threat to the nation's security from the West Coast to locations further inland.

The 32nd president of the United States, Franklin Delano Roosevelt, also referred by his initials FDR, was an American politician and attorney who presided over the country from 1933 until his passing in 1945. He became a key player in world affairs throughout the first half of the 20th century while serving as the head of the Democratic Party and winning a career high four presidential elections. The bulk of the Great Depression was under Roosevelt's guidance as he pursued his New Deal domestic agenda in response to the worst economic catastrophe in American history. He established the New Deal Coalition, which for the middle third of the 20th century in the US characterized modern liberalism. The World War 2, which came to a close just after he past away in office, dominated his third and fourth tenure. He was raised in Hyde Park, New York, where he was a member of the well-known Roosevelt family. He graduated from the Groton School, Harvard College, and Columbia Law School, which he left after passing the bar test to begin his legal career in New York City. He wed Eleanor Roosevelt, his fifth cousin once removed, in 1905. Five of the six children they had and brought to adulthood.

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Think about all the jobs that you encounter on a daily basis. How many different types of career paths intersect with your life every day? List as many different jobs and career paths that you see on a daily basis. Which ones, if any, interest you and why?

Answers

Answer:

I can provide you with a list of common jobs that may intersect with an individual's daily life:

Retail salesperson

Customer service representative

Delivery driver

Food service worker (e.g. server, chef, bartender)

Receptionist

Teacher

Health care worker (e.g. nurse, doctor, therapist)

Construction worker

Police officer

Office worker (e.g. administrative assistant, project manager)

I can provide information about different careers and what they entail. If you have specific questions about a particular career or job, I would be happy to help.

Explanation:

Click this link to view O*NET's Work Activities section for Heating and Air Conditioning Mechanics and Installers.
Note that common activities are listed toward the top, and less common activities are listed toward the bottom.
According to O*NET, what are some common work activities Heating and Air Conditioning Mechanics and Installers
perform? Select four options.
getting information
monitoring and controlling resources
staffing organizational units
making decisions and solving problems
Operforming general physical activities
handling and moving objects

Answers

Answer: getting information

making decisions and solving problems

performing general physical activities

handling and moving objects

Explanation:

Some common work activities that are performed by the Heating and Air Conditioning Mechanics and Installers include:

• getting information

• making decisions and solving problems

• performing general physical activities

• handling and moving objects

It should be noted that the Heating and Air Conditioning Mechanics and Installers so not monitor and control resources or staff organizational units. These roles belong to the manager or someone involved in the human resource department.

Answer:

1,4,5,6

Explanation:

Edge '22

How do corporations make financial disclosures about the corporation at the end of the financial year? Who benefits from this disclosure?

At the end of the financial year, a corporation has to make a disclosure of its__________. These documents help
__________ to make informed choices.

Answers

At the end of the fiscal year, a corporation must make a disclosure of its financial situation. These documents help stakeholders to make informed choices.

What are the benefits of financial disclosures?

By demonstrating its financial results at the end of the fiscal year, a corporation is able to create greater value for its stakeholders, such as its shareholders and customers, ensuring greater transparency about processes.

Financial disclosures also assist in compliance with legal compliance and help to gain more accurate knowledge of the company's real situation in terms of its finances, allowing for more effective decision-making.

Therefore, financial disclosures are capable of creating value for the company, attracting greater investment and business organization.

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Un pulpero compra 12 bolsas con 12 pan simples cada una a un precio de $8 cada una al vender 1 pan a $1 cuanto es su utlilidad si los vende todos

Answers

Answer:

La ganancia del pulpero será de $48.

Explanation:

Dado que un pulpero compra 12 bolsas con 12 pan simples cada una a un precio de $8 cada una, para determinar cuál es su utilidad si vende todos los panes cada uno a $1 se debe realizar el siguiente cálculo:

(12 x 12) - (12 x 8) = X

144 - 96 = X

48 = X

Por lo tanto, si vende cada pan a $1, la ganancia del pulpero será de $48.

Show Your Work gerry spends $1.25 each day on lunch at school. every friday, she buys an extra snack for $0.55. how much money will she spends in two weeks

Answers

In two weeks, Gerry will spend $13.6. We do not need to line up the decimal point when multiplying.

What is an illustration of a typical algorithm?

Standard Algorithm Division Let's take an example of each of these steps: Example: Multiply 245 by 5. Step 1: In this case, write the number to divide and the divisor as: Step 2: Start with the digit in the hundreds place in our case and proceed one digit at a time.

Gerry spends $1.25 per day on lunch on Fridays, adding $0.55.

How much will Gerry spend in the next two weeks?

There are five school days in a week, and Gerry spends $1.25 per day four days (Monday through Thursday).

On Fridays, Gerry spends $1.25 plus $0.55, which equals $1.80.

As a result, Gerry will spend $1.80 per week.

(1.25*4) + 1.80

= 5+ 1.80

= 6.8

Gerry will spend in two weeks:

2*6.8 = 13.6

The procedure for multiplying decimal numbers is identical to that of multiplying whole numbers, with the exception of where the decimal point appears in the final result.

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Governance is a process whereby senior management exerts strategic control over business functions through what

Answers

is the process through which senior management strategically controls business operations through policies, objectives, authority delegation, and monitoring.

What function does governance serve in a company?

You may always operate with in best interest of the organization with the aid of good governance. Most specifically, it can boost your company's performance, make it more reliable and effective, and open up new possibilities. It can lower hazards and promote quicker, safer growth.

What goals does government seek to achieve?

Transparency, accountability to investors and the community, strong corporate trusteeship, and the protection of employees' welfare are all characteristics of good corporate governance. Within the constraints of the corporate governance structure, it aids management in making creative decisions for the business.

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Complete the following decision box for this game. American's profits are on the left in each situation, Braniff's on the right.

Answers

Nash equilibrium is the state of a game when the players conclude the strategies they find salutary irrespective of the strategy chosen by their challengers.

It's the strategy chosen where both the players have their dominant strategies. The reason is that if both companies set the price as$ 600, they both earn medium gains compared to the situation when they both set the price as$ 300 and earn veritably low gains.

                                        Braniff's Decision

                                              (Low Price)                  High Price

America's Decision  LP         300, 300                     600, 300

                                 HP         600, 300                     600, 600

The Nash equilibrium is a decision-making theorem within a game proposition that states a player can achieve the asked outgrowth by not swinging from their original strategy. In the Nash equilibrium, each player's strategy is optimal when considering the opinions of other players.

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Which of the following is an example of protectionism? Multiple Choice the intense competition between solar pañel companies the higher tariffs being imposed on Chinese solar panels the importation of Nike shoes made in Vietnam the reduction of tariffs on imported shoes the Trans-Pacific Partnership Prev 1 23 4 of 10 MacBook Air

Answers

One of the which is an example of protectionism is A: The higher tariffs being imposed on Chinese solar panels is an example of protectionism. Protectionism is a policy that seeks to limit the number of imports from other countries.

Tariffs, which are taxes imposed on goods imported from foreign countries, are a common form of protectionism. By imposing higher tariffs on Chinese solar panels, the government is trying to make Chinese solar panels less competitive in comparison to domestic solar panels. This policy is meant to protect the domestic solar panel industry, as well as the domestic jobs associated with it.

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If the central bank can act as a lender of last resort during a banking panic, banks can
A. Call in their loans to their customers and eventually restore the publics faith in the banking system.
B. Borrow more and more money from the central bank and this will lower it's reserves and decrease the public's faith.
C. Satisfy customer withdrawal needs and eventually restore the public's faith in the banking system.
D. Encourage the public to borrow directly from the central bank and this will worsen the banking panic.

Answers

If the central bank can act as a lender of last resort during a banking panic, banks can  Satisfy customer withdrawal needs and eventually restore the public's faith in the banking system.

Hence, Option C is correct

In the event that a bank's reserves fail to prevent a bank run, a lender of last resort can inject funds into the institution in an emergency so that customers seeking withdrawals can receive their money without causing a bank run that pushes the institution into insolvency.A lender of last resort provides liquidity to financial institutions that are experiencing financial difficulties. In most developing and developed countries, the lender of last resort is the central bank. The too-big-to-fail policy and the lender of last resort seek to avoid systemic risk, in which the failure of a few firms leads to the widespread failure of solvent banks. The too-big-to-fail policy and the lender of last resort must provide liquidity to banks during this period.

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You will receive an inheritance of \$500,000$500,000 in 20 years on your 40th birthday. What is the value of the inheritance today if the discount rate is 10\%

Answers

The present value of the inheritance at 10% discount rate in 20 years is $74321.81.

Give a brief account on Inheritance Value?

The tangible and intangible parts of a heritage constitute its total value. The successor's wealth is increased by mutually beneficial reinforcement. The value of an inheritance is determined by the purpose, not the amount of the gift.

The standard for inherited homes is usually the fair market value (FMV) of the property at the time of the deceased's death. If no valuation has been done at this point, you should consult a real estate professional to figure out her FMV. There is no other way to establish your claim to land.

Whether you receive an inheritance in the form of cash, stock, or real estate, it does not count as income for federal tax purposes.

PV = C/(1 + r)ⁿ

Where, PV = Present value

C = Inheritance ($500,000)

r = Discount rate (10%)

n = Time period (20 years)

PV = $500,000 / (1+10%)²⁰

= $74,322

Hence, $500,000 to be inherited after 20 years is worth $74,322 of today.

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A $1.50 tax levied on the buyers of pomegranate juice will shift the demand curve
a. upward by exactly $1.50.
b. upward by less than $1.50.
c. downward by exactly $1.50.
d. downward by less than $1.50.

Answers

The answer is b. upward by less than $1.50. In this case, the $1.50 tax will cause the price of pomegranate juice to increase for buyers, which will lead to a decrease in the quantity demanded.

Effect of tax on pomegranate juice:

When a tax is levied on a product, consumers will pay more for it, which will reduce their demand for the product.

The tax, however, won't completely push the demand curve upward by the tax's amount.

This is due to the fact that the effect of price increases on quantity required is not linear but rather becomes stronger as prices climb.

However, since the demand curve is downward sloping, as the price of the good increases, the quantity demanded decreases by less than the increase in price.

So, the demand curve will shift upward, but by less than $1.50.

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Why is insurance so important in today's society?

Answers

Life insurance is significant because it provides financial stability to the policyholder's family in the event of the policyholder's untimely death.

Anyone looking to protect their family, possessions, and themselves from financial risk or losses will benefit from insurance plans. Insurance plans will assist you in covering the costs of unexpected medical expenses, hospital stays, contracting illnesses and their associated treatments, and future medical care needs.

Life insurance can help the policyholder's family maintain their financial independence so they are not forced to make lifestyle compromises.

At its most basic level, insurance acts as a protective safety net that enables businesses to take on more risky and lucrative ventures than they otherwise might.

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What are the advantages and disadvantages term life insurance?

Answers

Advantage of term life insurance: financial protection, tax exemption, low premium. Its disadvantages are: the premium can be expensive for old individuals and no cash value components.

A term life insurance policy is the type of non-permanent  insurance: The clients pay a premium for a set length of time, usually between 10 and 30 years, and if they die during that time, their family receives a financial benefit.

Among the advantages of term life insurance are:

- Financial protection to the beneficiaries.

- Exemption from paying income taxes

- Low premium and guaranteed high sum

Among the disadvantages of term life insurance are:

- The premium is expensive for unhealthy and old individuals.

- There is no return on investment or there is no cash value added

- The insured are unable to reap the benefits.

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Maria deposits her paycheck each week in a checking account. She plans to buy a car in the next year, so she decides to start saving $100 each month to pay for it. She does not want to have to remember to make that deposit each month. What savings instruments could help Maria reach her goal

Answers

a certificate of deposit for 24 months, or a standard savings account. a money market account requiring a minimum opening deposit of $100

What is a deposit?

In the realm of finance, money stored in a bank is known to as a deposit. A deposit is a transaction in which cash is delivered to another party to be kept safe. A deposit is an amount of money used as security or collateral for the provision of a good or service.

The advance payment given before the sale is finalized is known as a deposit. A down payment is a sum of money that is normally paid at the time of sale and serves as an initial payment while the remaining balance is covered by a loan or, in the case of real estate, a mortgage.

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