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Business

How does the problem of asymmetric information persist after a person has been hired?

"Asymmetric information" is also known as "information failure." In the context of hiring, it refers to the advantage that belongs to the potential future employee during the hiring process. The...

Latest answer posted November 16, 2020 12:06 pm UTC

1 educator answer

Business

Identify an example where large errors made by a business would be extremely costly. Which forecast error metric...

One example in which large errors would be extremely costly concerns the practice of lending money. If banks or other financial institutions lent money to people with bad credit under the...

Latest answer posted November 15, 2020 4:05 pm UTC

1 educator answer

Business

What are the problems involving asymmetric information that an employer faces in hiring a new employee, and are there...

Asymmetric information during the hiring process can also be referred to as "information failure." When we think of the term in a mathematical way, we conjure images of things not being the same,...

Latest answer posted November 15, 2020 2:03 pm UTC

1 educator answer

Business

How has the internet reduced asymmetric information problems?

In terms of business and economics, I think you could say the internet has reduced asymmetric information because the internet makes it relatively easy to look up information on a good, a seller, a...

Latest answer posted November 15, 2020 1:57 pm UTC

1 educator answer

Business

What are some reasons why banks charge interest?

One reason why banks might charge interest is to make money. If a bank lends a person money, and that person fully repays the loan, the bank didn’t lose money, but they didn’t make any money...

Latest answer posted November 15, 2020 4:40 pm UTC

1 educator answer

Business

What is the role of business in the economy?

Since business is the economic activity of individuals, corporations, partnerships, and other non-state entities, one might reasonably say that in a market system, business not only drives the...

Latest answer posted November 19, 2020 1:01 pm UTC

3 educator answers

Business

What are the advantages and limitations of using graphs and charts in business? 

There are a number of advantages and limitations to using graphs and charts. To start with the advantages, graphs and charts enable data to be summed up and understood in an instant, without...

Latest answer posted December 3, 2020 11:14 am UTC

5 educator answers

Business

On which problem would the internet have a greater impact, adverse selection or moral hazard?

Adverse selection refers to asymmetric information that exists between a buyer and seller before a deal has been reached. A moral hazard refers to asymmetric information that exists between buyers...

Latest answer posted November 16, 2020 12:46 pm UTC

1 educator answer

Business

Migrant farmers are considered essential for the economic efficiency of the food industry. Does that justify for the...

While it may be possible to argue that the treatment of migrant farmers is fair and justifiable due to the role that they play in the food industry's economic efficiency, the reality of these...

Latest answer posted November 17, 2020 1:24 am UTC

1 educator answer

Business

What are the advantages and disadvantages of the privatization of government-owned companies, such as airlines?

Proponents of privatization argue that it facilitates economic growth and should be prioritized by governments. However, detractors maintain that little has been done to mitigate the negative...

Latest answer posted December 1, 2020 7:21 pm UTC

5 educator answers

Business

Why do you think that large organizations tend to be more formalized (bureaucracy)? Do you know of any exceptions?...

A small start-up company, employing ten or fifteen people, will often be formed with almost no formal policies beyond its memorandum and articles of incorporation (which will probably be in a...

Latest answer posted November 9, 2020 6:15 pm UTC

1 educator answer

Business

According to Justice Stevens, what provisions of the ADEA allow plaintiffs to bring a disparate impact claim of...

The Age Discrimination in Employment Act (1967) prohibits discrimination against employees of or older than forty years. In Smith v. City of Jackson (2005), the Supreme Court ruled that this...

Latest answer posted November 9, 2020 7:20 pm UTC

1 educator answer

Nonverbal Communication

How are nonverbal messages communicated in an online enviornment?

Essentially, nonverbal messages can be communicated online in much the same ways that they can offline, depending on the online forum used. Most people think immediately of e-mail and other forms...

Latest answer posted November 13, 2020 11:07 am UTC

4 educator answers

Business

Give a hypothetical example of each of the six types of risk to a global supply chain: demand risks, supply risks,...

Supply chains are essential for business at every level, from local to global. Yet supply chains may face any number of risks. Here's an example. Suppose you run a factory that produces cotton...

Latest answer posted November 10, 2020 4:26 pm UTC

1 educator answer

Business

What is a positioning map in marketing? How can we create one? This is related to segmentation.

A positioning map should not be confused with a perceptual map. The first is the actual positioning of a brand within a competitive marketplace, while the second is the consumer perception of a...

Latest answer posted November 30, 2020 2:45 pm UTC

6 educator answers

Business

What are the various types of taxes filed by corporations and their overall implication on the preparation of...

To determine the different types of taxes that corporations must file and their relation to the preparation of Form 1120, it is vital that you gain a better understanding of the various types of...

Latest answer posted November 30, 2020 2:22 pm UTC

1 educator answer

Business

The text defines the Malthusian trap as "a point at which the world is no longer able to meet the food requirements...

This theory relies on the predictions of Thomas Malthus, who lived from 1766–1834. While his theory was sound, based on the historical context of that era, some dependent factors have certainly...

Latest answer posted October 26, 2020 10:23 pm UTC

1 educator answer

Business

Give an example of CPL (cost per lead), CPA (cost per action), and revenue share. How can companies ensure that the...

Cost per lead refers to how much money went into acquiring each potential new customer or sales contact—i.e., a lead. For an example of cost per lead, you might want to use an online clothing...

Latest answer posted November 6, 2020 5:16 pm UTC

1 educator answer

Business

How does one decide to buy a used car from a person or from a dealership?

When making any large purchase, a responsible buyer's choices are often guided by the interplay between their spending budget, the urgency with which they intend to make their purchase, and what...

Latest answer posted November 15, 2020 2:28 am UTC

1 educator answer

Business

What are the pros and cons of buying a used car from a person or from a dealership?

One thing to keep in mind is that different people are going to feel differently about certain pros and cons of buying a used car from a dealership versus buying a used car from a private seller....

Latest answer posted November 15, 2020 3:31 am UTC

1 educator answer

Business

Is it a good idea for banks to charge interest?

One might argue that it is such a good idea for banks to charge interest that they have been hampered from doing so by religious and secular law for much of history yet have still managed to build...

Latest answer posted November 15, 2020 6:39 am UTC

1 educator answer

Business

What are the various types of Taxes file by Estate &Trust and their overall implication on the preparation of...

There are two main types of taxes filed by an estate or trust. There is an initial tax that applies to the assets that have been transferred from the decedent to their heirs and beneficiaries....

Latest answer posted November 30, 2020 4:17 pm UTC

1 educator answer

Business

What are the various types of Taxes file by individuals and their overall implication on the preparation of...

According to the law, you must report all income you receive regardless of whether you're employed or self-employed. The first page of Form 1040 has a section where you fill in all your income...

Latest answer posted November 30, 2020 2:31 pm UTC

1 educator answer

Business

How does one explain the alternative models of savings?

The most common model of savings is to put money, often on a regular basis, in an interest-bearing savings account at a bank or other financial institution. Simply hoarding money at home, which...

Latest answer posted November 26, 2020 10:21 am UTC

1 educator answer

Business

How do capital gains taxes work in the United States, and how do they affect risk taking?

Capital gains tax in the US is charged after the sale of capital assets. A capital asset is any property expected to bring value to a business over a long period. Capital assets cost more than...

Latest answer posted November 26, 2020 4:50 am UTC

1 educator answer

Business

In the United States, how does the Earned Income Tax Credit work, and how does it affect labor supply?

In the United States, the Earned Income Tax Credit (EITC) is a tax incentive designed for working people with relatively low earnings and capital gains. It is particularly aimed at those with...

Latest answer posted November 26, 2020 2:19 am UTC

1 educator answer

Business

Explain the different styles and difficulties in evaluating employee performance and the different approaches to...

Employee performance evaluations vary according to employers and their values and styles. Let's look at a few options. First, some employers choose to allow their employees to practice...

Latest answer posted November 25, 2020 1:25 am UTC

1 educator answer

Business

What are the premise and attributes of the US Alternative Minimum Tax and its implications for individuals,...

The premise of the Alternative Minimum Tax (AMT) is that individuals, companies, and other entities with a high income will typically try to avoid paying as much tax as possible. The AMT calculates...

Latest answer posted October 23, 2020 7:52 am UTC

1 educator answer

Business

According to McShane's Organizational Behavior, why is season 3, episode 15 of Parks and Recreation relevant to...

You could argue that the fifteenth episode in season 3 of Parks and Recreation portrays Chris as embracing a kind of transformational leadership style. According to Steven McShane and Mary Von...

Latest answer posted November 25, 2020 5:09 pm UTC

1 educator answer

Business

Do you think that having an organizational culture is valuable for an organization that wants to be successful?...

I would argue that every organization has an organizational culture, whether they want to or not. An organizational culture, when simply defined, is the way in which things are done naturally in...

Latest answer posted November 2, 2020 7:29 pm UTC

1 educator answer

Business

Of all the leadership lessons given by Richard Branson, which one do you value most, and why?

This is a highly personal question that you will have to answer for yourself, but let's review a few of Richard Branson's leadership lessons to give you an idea of your options. First, Branson...

Latest answer posted November 2, 2020 10:54 pm UTC

1 educator answer

Inventory Control

Explain the primary reasons for carrying inventory. Chose a company that you believe has mastered each of the...

Production process Providing adequate materials and resources necessary for the production of units of goods and services is of outmost importance for ensuring a good and stable production...

Latest answer posted November 24, 2020 12:54 pm UTC

1 educator answer

Business

How do we measure income distribution in the United States?

One of the commonest ways to measure income distribution, in the United States and around the world, is to express what percentage of people or households fall within particular income brackets....

Latest answer posted November 6, 2020 8:09 am UTC

1 educator answer

Business

What are five elements of health care fraud that one can learn from the works of Rebecca S. Busch (Health Care Fraud...

Rebecca S. Busch has written and presented extensively on healthcare fraud, her major work being Healthcare Fraud: Auditing and Detection Guide. Busch is careful to point out that any party;...

Latest answer posted November 23, 2020 10:27 pm UTC

1 educator answer

Business

How do governments attempt to control foreign businesses operating within their borders?

For the most part, governments tend to encourage foreign businesses, as they can generate jobs, economic prosperity, and much-needed tax revenue. Even so, for the sake of national sovereignty, it's...

Latest answer posted November 23, 2020 7:32 pm UTC

1 educator answer

Interpersonal Communication

What are the five fundamental characteristics of language?

The quantity of characteristics which are used to characterize language will vary, depending on the text referenced. Generally speaking, the following are considered common features of all...

Latest answer posted November 23, 2020 9:48 pm UTC

4 educator answers

Business

How might the Electoral College system in the US influence the transnational corporation investments and operations...

The Electoral College system in the United States is widely criticized on several grounds, chiefly that it is difficult to understand, and gives unfair weight to certain areas of the country,...

Latest answer posted November 23, 2020 9:17 pm UTC

1 educator answer

Business

In terms of interest, what are negative real interest rates? What effects do negative real interest rates have on the...

Negative real interest rates mean that banks and other financial entities basically have to pay to hold on to their money. The reason why these banks or financial institutions might be hesitant to...

Latest answer posted October 19, 2020 5:38 pm UTC

1 educator answer

Business

Why are there factors other than Andersen to be blamed for the downfall of Enron?

While the firm of Arthur Andersen was complicit in allowing and covering up corrupt accounting practices, there were many other factors that led to the downfall of Enron. Prior to the Enron...

Latest answer posted October 27, 2020 4:17 pm UTC

1 educator answer

Business

What restrictions do current auditing standards place on the preparation and retention of auditing working papers?

The current auditing standards in relation to the preparation and retention of working papers are laid out in the Securities and Exchange Commission's Rules (specifically RIN 3235-AI74 relating to...

Latest answer posted October 27, 2020 8:10 pm UTC

1 educator answer

Business

Explore at least three of the following concepts in relation to business: 1) Definition of technological change 2)...

To help you get started on this assignment, let's take a look at the idea of technological change. Technological change happens when new inventions (like machines, software, etc.) and innovations...

Latest answer posted October 17, 2020 7:05 pm UTC

1 educator answer

Business

What factors changed the accounting or auditing profession over the last twenty years? What are the key requirements...

The changes in the accounting and auditing professions over the last twenty years have come about principally as a reaction to the Enron crisis at the end of 2001. This was not only a large-scale...

Latest answer posted October 27, 2020 9:28 pm UTC

1 educator answer

Business

Do you believe that Andersen's involvement in Enron's decisions violated any professional auditing standards? If so,...

It is clear that Arthur Andersen violated not only professional auditing standards but also the criminal law of the United States by destroying documents related to its auditing of Enron's...

Latest answer posted October 27, 2020 10:54 pm UTC

1 educator answer

Business

What are the five most common types of taxes and what are two examples of each?

Individual income taxes are direct taxes that individuals or households pay on their income or their earnings; these earnings can stem from different sources, for example wages, investments,...

Latest answer posted November 22, 2020 2:02 pm UTC

1 educator answer

Business

What are ten disadvantages of a progressive tax system?

Economists, tax policy experts, and behavior scientists all have theories about the advantages and disadvantages of a progressive tax system. Seldom is a political issue so divided as it is with...

Latest answer posted November 22, 2020 1:29 pm UTC

1 educator answer

Business

"What is the best tax system for the United States and why?"

This is a question that is difficult to address because there are ideological views involved on both sides and may would argue that a system is best because it best comports with their values. Many...

Latest answer posted November 22, 2020 9:22 am UTC

1 educator answer

Business

Do you think implementing a global version of the old European monetary system would work today? Why or why not?

Under the old European monetary system (EMS), most countries that were members of the European Economic Community (EEC) agreed to link their currencies together. The goal was for their currencies...

Latest answer posted November 20, 2020 11:23 pm UTC

1 educator answer

Business

What are the impacts of globalisation that are applicable? How?

Globalization is a process which represents the global communication, interdependence and interconnection between different societies, cultures and economies around the world. As such, it has...

Latest answer posted November 20, 2020 7:11 pm UTC

1 educator answer

Business

After Enron and other companies' failures, what are the restrictions placed by regulators, if any, on a firm’s...

At the beginning of the twenty-first century, several cases of fraud in which faulty accounting and auditing played a part, the most prominent being the Enron crisis, led to a large-scale review of...

Latest answer posted October 28, 2020 3:02 pm UTC

1 educator answer

Business

There has been a push in many communities to source locally. Restaurants are specializing in local sourcing, as are...

In a world in which we all need to take environmental concerns such as climate change seriously, the environmental benefits of local sourcing cannot be underestimated. Any reduction in the need for...

Latest answer posted November 3, 2020 9:41 am UTC

1 educator answer

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