The business of the NYSE is to attract and process order flow in the market to gain the attention of the customers.
What is NYSE?The term NYSE stands for Newyork Stock Exchange. Investors can purchase and sell stocks on a single marketplace provided by it. Companies can list their shares on the stock market and raise money from potential investors that way.
To fulfill every marketable interest in the Auction, the DMMs on the NYSE Floor are entitled. Its adaptability allows him to draw in natural order flow to balance out extreme imbalances, which leads to massive auctions selling at prices that are higher than those generated by a mechanical auction price boundary.
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Consider each of the four market structures. Identify the characteristics associated with each market structure and place the seven statements in the appropriate category.
The way they match the market forms with the sentences are: oligopoly: 4, Monopoly: 2 and 3, Perfect competition: 1, 5 and 6. monopolistic competition: 7.
What is an oligopoly?An oligopoly is a term for a type of market characterized by the dominance of a small number of large sellers. Oligopolies can result from various forms of collusion that reduce competition and lead to higher prices for consumers.
What is a monopoly?A monopoly is a term that refers to a form of market in which a company has a privileged position because it has great market power and is the only one in an industry.
What is a perfect competition?Perfect competition is a term to refer to a market situation in which firms lack the power to manipulate product prices to maximize welfare. In a perfectly competitive market, there are a large number of buyers (demand) and sellers (supply), so that no single buyer or seller has a decisive influence on the price.
What is a monopolistic competition?Monopolistic competition is an economic term that refers to a type of competition in which there is a significant number of producers acting in the market without there being dominant control by any of these in particular.
According to the above, the seven statements are distributed as follows:
Perfect competition: The demand curve for an individual firm's output is a horizontal line.Monopoly: The single firm has considerable control over the process it charges for the product or produces, and the entry of new firms into the industry is blocked.Monopoly: A single firm that produces a unique product with no close substitutes.Oligopoly: A very large number of firms that produce an identical product.Perfect competition: Many firms that produce a differentiated product.Perfect competition: Individual firms are price takers, and firms can easily enter or exit the industry.Monopolistic competition: There are a few firms and the case of entry of new firms is low.Note: This question is incomplete because there is some information missing. Here are the missing information:
Oligopoly.
Monopoly.
Perfect competition.
Monopolistic competition.
Statement
1. The demand curve for an individual firm's output is a horizontal line.
2. The single firm has considerable control over the process it charges for the product or produces, and the entry of new firms into the industry is blocked.
3. A single firm that produces a unique product with no close substitutes.
4. A very large number of firms that produce an identical product.
5. Many firms that produce a differentiated product.
6. Individual firms are price takers, and firms can easily enter or exit the industry.
7. There are a few firms and the case of entry of new firms is low.
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FILL IN THE BLANK. During the year Comer, Inc., had $200,000 in goods available for sale. At the end of the accounting period it had an ending inventory of $40,000. This reveals that is had sold all but ____ worth of the available goods.
During the year Comer, Inc., had $200,000 in goods available for sale. At the end of the accounting period it had an ending inventory of $40,000. This reveals that is had sold all but $160,000. worth of the available goods.
Inventory refers to all of the items, goods, merchandise, and substances held through a commercial enterprise for promoting withinside the marketplace to earn a profit. Example: If a newspaper supplier makes use of a automobile to supply newspapers to the customers, handiest the newspaper could be taken into consideration inventory.
An accounting period is any time frame used for financial reporting. Transactions that fall within a given date range form part of the statements or reports for that accounting period. An accounting period, or reporting period, is often 12 months. There may be different accounting periods for various business tasks.
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xyz company has a 10 year installment note requiring $5,000 to be paid within the current year and $45,000 to be paid over the remaining 9 years. how is this installment note reported in the balance sheet of xyz company?
XYZ Company has a 10 year installment note .The installment note reported in the balance sheet of XYZ Company--$5,000 current note payable; $45,000 long-term note payable.
The item "payable account" is recorded as a current liability on the balance sheet. It represents a written agreement between the borrower and the lender specifying their obligation to repay the loan at a future date.
How are pending account payable calculated?Accounts payable are always among the current liabilities on the balance sheet, as are other current liabilities such as credit card payments. However, bills payable on the balance sheet are classified as either current or non-current, depending on whether they are paid within one year.
Are bills payable current liabilities?Current liabilities are usually settled with current assets. Examples of current liabilities include accounts payable, current liabilities, dividends and notes payable, and income taxes payable.
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Which type of transaction may either be added or subtracted while adjusting a bank balance?.
The transaction that may either be added or subtracted while adjusting a bank balance are deposits in transit. Thus, the correct option is (C).
When performing a bank reconciliation, there are certain transactions that need to be adjusted on the company's records to ensure an accurate bank balance. These adjustments can either increase or decrease the balance. Deposit in transit is one of them.
Deposits in transit are deposits that were made by the company but have not yet been recorded by the bank need to be added to the company's records to adjust the bank balance.
Therefore, while adjusting a bank balance during the bank reconciliation process, transaction such as deposits in transit may either be added or subtracted to ensure an accurate balance.
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Your question is incomplete, but most probably the full question was,
Which type of transaction may either be added or subtracted while adjusting a bank balance?
O A. outstanding checks
O B. bank errors
O C. deposits in transit
OD. interest earned
What are 3 things that encourage international trade?.
The 3 things that encourage international trade are enhancement in technology , better trading facilities and unique product with demand .
What is International Trade?
International trade is the buying and selling of goods and services by businesses in different countries. Consumer goods, raw materials, food and machinery are bought and sold on international markets.
Why is international trade important?International trade is called the exchange or trade of goods and services between different countries. This kind of trade contributes and boosts the global economy. The most commonly traded commodities include televisions, clothing, machinery, capital goods, food and raw materials.
What is the main purpose of trading?Trade is essential to sustaining a competitive global economy, driving innovation and promoting market specialization, thus lowering the price of goods internationally.
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the salesperson should know how to meet and greet the buyer and get the relationship off to a good start in which step of the selling process?
The salesman should be able to meet and greet the customer at the approach step and establish a positive rapport.
The encounter between a vendor and a potential customer or buyer is known as the selling process. In most cases, it's a technique that firms can duplicate to ensure that salespeople consistently deliver.
To complete transactions and guarantee ongoing earnings, businesses follow the standard seven steps of the selling process.
Prospecting, preparation, approach, presentation, resolving objections, closing, and follow-up are some of these phases.
Our initial human contact with our prospect or prospects will be during the approach stage of the selling process.
This phase entails personalizing our meeting or otherwise developing a rapport with the prospective client or buyer. asking inquiries to engage the client in the discussion.
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the short-run response of quantity demanded to a change in price is usually multiple choice neither less, greater, nor the same as the long-run response. less than the long-run response. the same as the long-run response. greater than the long-run response.
The short-run response of quantity demanded to a change in price is usually less than the long-run response.
Demand is the quantity of an awesome that customers are willing and able to purchase at numerous expenses for the duration of a given time. the connection between fee and amount call for is likewise referred to as the demand curve.
Demand is the client's desire to purchase a specific exact or carrier. market call for is the demand for a particular good in the market. combination call for is the whole demand for goods and services within the economic system. call for and supply match determines the rate of the good or provider. understanding the idea of demand.
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on january 1 of year 1, arthur and aretha franklin purchased a home for $1.68 million by paying $230,000 down and borrowing the remaining $1.45 million with a 4.4 percent loan secured by the home. the franklins paid interest only on the loan for year 1, year 2, and year 3 (unless stated otherwise).
A If year 1 is 2017, then the Franklins can deduct 63800 as interest in year 2
Interest = 4.4% x 1450000.
B. $0
The home must have been improved with the help of the loan. Loans with personal interest are not subtracted.
C. $0.
The loan is for personal use only; it is not for house renovations.
What is a loan?The term "loan" describes a category of credit instrument in which a sum of money is lent to another party in return for the value or principal amount to be repaid in the future. Most of the time, the lender will also add interest or finance charges to the principal amount, which the borrower will also be required to pay back along with the principal sum.Loans can be made for a predetermined, one-time sum of money or they can be used as an open-ended line of credit up to a predetermined limit. There are many different types of loans, such as secured, unsecured, commercial, and personal loans.To learn more about loan from the given link
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The factors that influence the asking price for a home include recent _____ prices of comparable homes in the area, demand for homes in the housing market, and available financing. This is found in the discussion of determining the selling price.
Selling
The factors that influence the asking price for a home include recent selling prices of comparable homes in the area, demand for homes in the housing market, and available financing. This is found in the discussion of determining the selling price.
What factors affect the demand for housing?Mortgage rates, population, real income levels, and the need for space are a few examples of demand-related variables. For instance, during COVID-19, house prices in London grew while apartment prices decreased, showing a rise in demand for outdoor space for gardening and other home activities.
Five variables affect the quantity demanded (qD), including price, buyer income, the cost of comparable commodities, consumer preferences, and any future supply and pricing expectations. The quantity demanded changes along with these variables. There is no doubt that the most crucial aspect in evaluating the market value of real estate is how much comparable homes are selling for in your neighborhood.
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the weidmans want to save $30,000 in 4 years for a down payment on a house. if they make monthly deposits in an account paying 12%, compounded monthly, what is the size of the payments that are required to meet their goal? (round your answer to the nearest cent.)
Weidman's will do monthly contribution of $490.015063 per month to be able to get $ 30,000 in four years and make the down payment for a house.
What do you mean by the Down payment?A down payment is a quantity of money that a buyer pays at the beginning of a pricey good or service purchase.
A portion of the entire purchase price is covered by the down payment, and the buyer frequently takes out a loan to cover the balance.
Here,
We want to make monthly deposit to generate a future value of $ 30,000 in 4 years at 12% annual rate compounding monthly
C = FV ÷ [((1+r)^n-1)/r]
FV = $30,000.00
time 4 years x 12 month per year: 48
rate 12% per year / 12 month = 1% monthly = 0.01
C = FV ÷ [((1+r)^n-1)/r]
C = $490.015063
Weidman's will do monthly contribution of $490.015063 per month to be able to get 30,000 in four years and make the down payment for a house.
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when a shortage or limited resource of some type restricts a company's ability to satisfy demand, the company has a(n) .
when there is a shortage or we can say limited resource of some type have a restricts with company's then the ability to satisfy demand, then company will have a constraint.
When a constrained aid of a few kind restricts a employer's ability to fulfill call for, the employer has a(n) bottleneck. The expenses incurred as much as the split-off factor in a manner wherein or extra merchandise are created from a not unusualplace enter are referred to as joint expenses. Scarcity in economics refers to whilst the call for for a aid is more than the deliver of that aid, as assets are constrained.
Scarcity effects in purchasers having to make choices on how excellent to allocate assets that allows you to fulfill all simple desires and as many needs as possible. constraint. When a constrained aid of a few kind restricts the employer's ability to fulfill call for. desire the goods that offer the best contribution margin in step with unit of the limited aid.
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in periods of rising inventory costs, which of the following inventory methods provides the lowest income tax?
Since the price of items offered is higher in the LIFO method, the internet earnings will be lower.
Moreover, the internet profits and cost of goods bought for common fee method typically lie someplace between the LIFO approach and FIFO method.
Which stock technique will end result in the lowest income tax expense?“Because FIFO results in a higher internet profits all through durations of rising prices, it additionally results in higher profits tax expenses,” Ng said. “Conversely, if the LIFO technique is used in the course of a duration of rising prices, it will end result in decrease internet income. So, this technique would result in a decrease earnings tax expense.
Using LIFO commonly lowers net earnings but is tax positive when expenses are rising.
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Reasons for US companies to open factories in China include:
take advantage of favorable land pricesPlenty of resources to usebenefit from reduced labor coststake advantage of favorable tax lawsCompanies may decide to move their manufacturing operations overseas for a variety of reasons. Most of these reasons are shown in the options listed above.
Businesses are always looking for cheaper options. These opportunities must be able to maximize profits while reducing production costs.
Why are economic resources important?They are the natural capitals that make up other forms of capital. They contribute to tax revenue, income and poverty reduction. Sectors related to the use of natural resources provide jobs and often livelihoods for poor communities
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andrea bought a jacket that was priced at $350. also, she had to pay 3% sales tax. a. how much money was the tax?
As Andrea bought a jacket that was priced at $350 and had to pay 3% sales tax, the amount of the tax equals to $10.50.
What is a sales tax?In finance, a sales tax means the tax paid to a governing body for the sales of certain goods and services. Usually, the tax laws allow the seller to collect funds for the tax from the consumer at the point of purchase.
When the tax on goods or services is paid to a governing body directly by a consumer, it is usually called a use tax.
Tax payable = $350 * 3%
Tax payable = $10.50. Therefore, the amount of tax is $10.50.
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Classify the events according to their impact on aggregate demand (AD). A dramatic decline in the average price of houses will decrease AD. Increased concern that a recession is looming will decrease AD. An announcement by the central bank to maintain its existing monetary policy will not change AD. A reduction in government spending will A dramatic improvement in the stock market, causing investors' wealth to rise, will A recession occurring in a trading partner's economy will An increase in income tax rates on individuals earning more than $450,000 per year will decrease AD increase AD. decrease AD not change AD.
A dramatic decline in the common rate of homes will lower advert. an increased subject that a recession is looming will lower advert. A declaration via the valuable financial institution to keep its existing financial policy will decrease ad. A reduction in authorities' spending will lower ad. A dramatic development in the stock market, causing investors' wealth to upward push, will grow advert.
Monetary output, employment, and patron spending drop in a recession. interest charges are also probable to say no as the primary financial institution (which includes the U.S. Federal Reserve bank) cuts prices to support the economic system.
Purchasers will decrease their spending, placing much less cash into the economy, which means that agencies will report decreased income. To make matters worse, some buyers will liquidate their shares in response to recession fears, rising inflation, and interest price hikes.
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item4 item 4 an industry consists of three firms with sales of $380,000, $805,000, and $425,000. a. calculate the herfindahl-hirschman index (hhi).
The Herfindahl-Hirschman index for the industry is $45,000.
What is Herfindahl-Hirschman index?The Herfindahl index, also known as the Herfindahl-Hirschman Index, HHI, or occasionally the HHI-score, is a gauge of a company's size relative to the market it serves as well as a measure of its level of rivalry. This economic term, named after economists Orris C. Herfindahl and Albert O. Hirschman, is used frequently in antitrust, technology management, and competition law. Antitrust regulators have continued to employ HHI, mostly to assess and comprehend how a merger may impact related markets. Market shares are stated as fractions, decimals, or whole numbers and are used to compute HHI by first squaring and then adding the figures obtained from each competing firm in the industry. The outcome is based on market share weighted average market share.
Herfindahl-Hirschman index=$425,000-$380,000=$45000.
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What taxes are paid directly to the government by taxpayers?.
Direct Taxes, as the name suggests, are unit taxes that are unit directly paid to the govt by the remunerator. it's a tax applied on people and organizations directly by the govt e.g. income tax, corporation tax, wealth tax etc.
Indirect Taxes are area units applied on the manufacture or sale of products and services. There are unit 2 forms of taxes particularly, direct taxes and indirect taxes. The implementation of each of the taxes differs. The intermediator later files a come back|income tax return|return|legal document|legal instrument|official document|instrument} and forwards the tax return to the government with the return.
Direct tax may be a tax that someone or an organization pays on to the entity that obligatory it. Examples embrace taxation, property tax, and private property tax.
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in the keynesian-cross model, actual expenditures equal: gdp. the money supply. the supply of real balances. unplanned inventory investment.
An element of investment spending is unplanned inventory investment. Planned inventory investment makes up the other part of investment spending.The investment in unplanned inventory happens.
When real sales are more or lower than the company’s anticipated sales, which causes unforeseen adjustments to occur in the inventories.As a result, under the Keynesian-Cross model, the amount of unplanned inventory investment separates actual spending from planned spending.This occurs when the final consumer requests more product than the business anticipated. Because of the unexpected increase in demand, businesses are forced to increase production by making more investments, which drives up their costs.Certain times of the year see greater demand for some things than others.Managers should note these times so that they may factor them into their planned investments and ensure they have enough inventory to avoid an unanticipated drop in stock.
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which of the following would cause stagflation? a. aggregate demand shifts left. b. aggregate supply shifts right. c. aggregate demand shifts right. d. aggregate supply shifts left.
Short run aggregate supply shifts left would cause stagflation. The appropriate response is option D.
What is stagflation?Stagflation, sometimes known as recession-inflation, is a condition in which unemployment is consistently high, the economy is growing slowly, and the inflation rate is high or rising. It creates a conundrum for economic policy because measures taken to reduce inflation may make unemployment worse.
Stagflation, which typically entails rising unemployment, is the result of both high consumer price inflation and slow economic growth. A supply-side shock, such as suddenly rising oil costs, or weak economic policies, such as excessive government spending or excessively low interest rates, may be the culprits.
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match the phrase/term to the correct definition/description a. probability interpreted as a measure of the strength of one's belief that a particular outcome will occur b. collection of all possible outcomes of a random process
a. Sample space - a collection of all possible outcomes of a random process
b. Probability - interpreted as a measure of the strength of one's belief that a particular outcome will occur
A set of potential outcomes from a random experiment is known as a sample space. The sample space is identified by the letter "S." Events are a subset of the potential outcomes of an experiment. The results in a sample area could vary depending on the experiment. The set of potential outcomes in a statistical experiment is referred to as a sample space or probability space.
Probability is a metric used to express the possibility or chance that a particular event will occur. Probabilities can be expressed as fractions from 0 to 1, as well as percentages from 0% to 100%.
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an autonomous increase in aggregate spending of $100 million would lead to a total increase in real gdp of how much if the mpc is equal to 0.8?
The value of real gross domestic product (GDP) is equal to $500, considering value of aggregate spending and marginal propensity to consume.
Given information:
Aggregate spending = $100
MPC (marginal propensity to consume) = 0.8
Value of real GDP (gross domestic product) = 1/(1-MPC)
Value of real GDP = 1/(1-0.8) = $500
The total amount or market worth of all of the products and services manufactured within a nation's borders during a specific time period is known as the gross domestic product (GDP). It serves as a thorough evaluation of the state of the economy in a specific nation because it is a wide indicator of total domestic production.
Even while GDP is frequently estimated on a yearly basis, it can also be calculated quarterly. For instance, the government of the United States produces an annual Provided the required for each calender year and each fiscal quarter. Each piece of data in this report is presented in real terms, which means that it has been adjusted for price fluctuations and is thus net of inflation.
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Managers’ power over employees, granted based on their position within the organization, is considered.
Managers power over employees is granted based on their position within the organization and is considered as legitimate. So the power can be exercised upon the employees
What is a manager?A manager is a person who manages a number of employees that are lower in designation and in his or her hierarchy, a manager is responsible to manage his subordinates and it is his or her duty to ensure that the employees are motivated and well paid also it is important to appreciate the employees and this is duty of a manager.
Manager can be on different types however a manager with good skills and qualities is preferred and praised by his or her subordinates. Manager has the authority to exercise power over the employees and so they should keep their employees motivated.
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three key interdependent strategic leadership activities are designing the organization, maintaining its direction, and nurturing a culture dedicated to excellence and ethical behavior.
Three key interdependent strategic leadership activities are: designing the organization; determining its direction; and, nurturing a culture dedicated to excellence and ethical behavior. developing a strategic vision of what the organization could become.
strategy is a trendy plan to achieve one or more long-term or average dreams below situations of uncertainty. within the feel of the "art of the overall", which protected numerous subsets of skills together with military procedures, siegecraft, logistics and many others., the time period came into use within the sixth century C.E. in japanese Roman terminology, and was translated into Western vernacular languages handiest in the 18th century.
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accountants can use a three-step process to determine cash provided (or used) by investing activities. which of the following steps is not part of this process?
Identify Adjustments to Net Income. The amount of adjusted net income that exceeds the total deductions that would be permitted for a taxable year's gross income is known as adjusted net income.
What is adjusted net income ?Adjusted net income is the difference between the total deductions that would be permitted for a taxable corporation as determined with certain deduction modifications and the gross income for the tax year as determined with certain changes.Gross income includes revenue from a functionally connected business but excludes gifts, grants, or contributions received by the private operating foundation. Except when otherwise provided, gross income and the total deductions that may be taken from it shall be calculated as they are for income tax purposes. There will be no exclusions, deductions, or credits when calculating adjusted net income, unless specifically stated in the income modifications and deduction modifications.To learn more about net income refer :
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Do incentives affect consumers and producers?.
An increase in profit or sales is an incentive for sellers. Prices communicate with buyers. Low prices encourage buyers to spend their money now. Higher prices encourage sellers to increase production in order to produce more goods.
What effect do incentives have on consumers and producers?Price acts as a motivator for both consumers and producers. Higher (lower) prices necessitate consumers foregoing more (fewer) resources in order to obtain goods. Consumers respond to changing price incentives by changing their consumption habits or the quantity of goods demanded.
Positive and negative incentives elicit predictable responses from people.People's choices and behavior are influenced by both positive and negative incentives. Changes in incentives cause people's behavior to change in predictable ways. Incentives can be both monetary and non-monetary in nature.People respond to incentives as consumers, producers, workers, savers, investors, and citizens in order to allocate scarce resources in ways that provide the highest possible returns to them.
Price acts as a motivator for both consumers and producers.Higher (lower) prices necessitate consumers foregoing more (fewer) resources in order to obtain goods. Consumers respond to changing price incentives by changing their consumption habits or the quantity of goods demanded. The inverse or negative relationship between quantity demanded and price of a good is predicted by the Law of Demand.
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the grain elevator operator would probably laugh and tell me the market price is the price that they will buy my corn for not a penny more
Market pricing is a technique used to determine prices in accordance with what is currently being paid in the market for identical or comparable goods or services.
What does the market price mean?Market pricing is a technique used to determine prices in accordance with what is currently being paid in the market for identical or comparable goods or services. It allows firms the chance to set higher prices initially before matching market prices to remain competitive while also increasing return on investment.Find the point where supply and demand converge to establish the market price. Discover the market price by investigating factors such as market trends, the quantity of providers, and the number of current customers. Since it doesn't employ standard business formulas, determining market pricing might be difficult.The complete question is,
Employers risk being sued for violating employees' privacy if they fail to warn workers that certain communications are being recorded.
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it manager employed by a multinational sales organization that is pursuing a new initiative to provide information services to customers through mobile telephones is to:
Similar to a human resources manager, an employment manager often oversees tasks regarding employment-related issues in small organisations.
The responsibilities of an employment manager may differ in larger firms and be more directly related to the recruitment and selection organisations. Manages staff, plans, and evaluates departmental activities to meet departmental goals. Develops opportunity for personal development. Managers are accountable for the work that their team members produce. In this sense, they are playing the role of the leader. Some of these activities directly involve the leadership; for instance, in the majority of firms, managers are typically in charge of hiring and developing their own personnel.
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a system administrator wants to allow most users to be able to run cron jobs, but wants to specifically prevent a couple of users from doing so. which of the following files could the administrator edit to disallow these users from creating cron jobs?
These files allow only targeted customers to perform crontab command duties along with developing, editing, displaying, or putting off their own crontab files.
Administrators help the easy running of places of work by wearing out clerical duties and initiatives. As an administrator in the production enterprise, you could be establishing mission conferences. you would be typing up files, responding to commercial enterprise inquiries, drawing up contracts, and presenting customer service.
An administrator may be any person the court appoints to manage the affairs of a business enterprise. particularly, to manipulate the affairs of a commercial enterprise that has to turn out to be bankrupt. In different words, they manage a firm that has been positioned into administration. We name a lady administrator both an administrator is a good administrator, you ought to be cut-off date-pushed and possess a high.
Level of organization. appropriate administrators can balance a couple of responsibilities simultaneously and delegate when suitable. making plans and the capability to assume strategically are useful competencies that raise administrators in their careers. Atrix or administrator.
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FILL IN THE BLANK. an advocacy organization commissions a television advertisement encouraging climate change action. the advertisement displays a series of stunning photographs of nature's beauty and asks whether such beauty is worth saving for one's children. this ad relies on the __ route to persuasion. please choose the correct answer from the following choices, and then select the submit answer button. answer choices primary central secondary peripheral
The advertisement displays a series of stunning photographs of nature's beauty and asks whether such beauty is worth saving for one's children. this ad relies on the central route to persuasion.
What is central route to persuasion?Using statistics and facts to persuade others of the value of an argument or a product is the main path to persuasion. This method of persuasion makes the assumption that when the message is conveyed, the target audience is motivated and analytical.The Central Route to Persuasion, as opposed to one that just relies on a celebrity endorser, is used, for instance, in a TV commercial that uses laboratory results to show how successful a treatment for acne is.The core path to persuasion works best when the audience, or target of persuasion, is analytical and eager to engage in information processing.To learn more about central route to persuasion refer to:
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the railroad commission of texas strategy of limited oil production to maintain prices was adopted by which organization?
The Railroad Commission of Texas adopted the Organization of Petroleum Exporting Countries' (OPEC) plan of limiting oil output to maintain prices.
The Railroad Commission served as the template for the creation of the Organization of Petroleum Exporting Countries (OPEC) in the 1960s. Due to Texas' key position in the petroleum sector and the Railroad Commission's authority to prorate oil production, the Commission was crucial to the world's energy supply.
What functions does the railroad commission in Texas have?
The system service availability will be returned as soon as is practical. In Texas, the exploration, production, and transportation of oil and natural gas are all governed by the Railroad Commission's Oil and Gas Division. Its mandated function is to guarantee safety in situations involving things like hydrogen sulfide.
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