Graph Questions

Q: Which graph illustrates the market for a nonscarce good? Ans: The answer is option C only because both the demand and supply curves do not cross above 0 prices. Q: Allocative efficiency occurs only at that output where? Ans: option b- where consumer and producer surplus are equal. Q: The following graph shows the market for apples. Assume that the government has imposed a price floor of $10 per crate. Ans: a. how many crates of apples will be sold to consumers after the price floor has been imposed? According to the graph, 28 million crates of apples will …

Activity based Budgeting

Activity based budgeting is a budget system based on expected Activity-based budgeting also known as ABB is an organized system in accounting management that researches records and evaluates the entire set of activities that pave the way towards increasing costs for the company. Any activity that takes place in the organization and incurs costs it is carefully scrutinized so that more efficiency is achieved in saving costs. Unlike traditional budgeting ABB is far more rigorous as the former merely adjusts previous budgets to account for inflation. ABB is a great way for organizations to boost their profits as costs can …

Internet Change Consumer

how does the internet change consumer and supplier relationships ? The internet is considered as the next industrial revolution. It is a disruptive technology that has changed the way the world exists. To the customers, it has given them an opportunity to become more aware about the products and services close to them. It also means that if they want to buy even a pin, they have several options to choose from. On the other hand, suppliers also have become aware of the need to have an online presence because they need to offer the right product at the right …