Which of the following illustrates the concept of externalaties? OSmoking harms the health of the smoker O An increase in the price of sugar raises the price paid by consumers of soda, thereby disadvantaging these consumers A hurricane destroys a production plant causing the owner of the plant to spend more money rebuilding O Pollution by a coal mining plant causes a farmer to spend more money on fertilizer to improve his crop
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- In order to correct the problems associated with external costs, O standards must be established that make it illegal to pollute. O the prices of all goods must be raised so people will consume less of the world's resources. the government must take over production of industries that are responsible for most of the pollution. the signals given to the economy must change so that decision-makers will take into account all the costs of their actions.In light of the fact that people are finding it difficult to earn a living during the pandemic, what do you consider to be a profitable crop-related business? Justify.In the discussion of Big Idea Five, we identified that, “self-sufficiency is death” because most of us would not be able to produce for ourselves the food and shelter that we need to survive. In addition to death, however, one could also say that self-sufficiency is boredom or ignorance. How does specialization and trade help you to avoid boredom and ignorance?
- Discuss how this pandemic is affecting small businesses borrowingQuestion Covid 19 has caused an economic meltdown globally. Suppose, you are an owner of a popular export oriented readymade garments company in Bangladesh. How would your business have impacted due to the Corona outbreak? Answer the question based on your knowledge of product cost, period cost and CVP analysis ONLY.Day Street Deli’s owner is disturbed by the poor profit performance of his ice cream counter.He has prepared the following profit analysis for the year just ended: he owner is thinking the elimination of this counter. If it is eliminated then: ✓ Depreciation of counter equipment is avoidable ✓ The supervisory salaries is avoidable✓ The insurance expense is unavoidable ✓ The depreciation of building unavoidable ✓ The general overhead is unavoidable Required:a) Should the company eliminate the counter or not? Show your calculations and justify your answer.b) Mention at least three relevant costs.
- Abdullah, section associate in Al- Hind company has found the fraud done by one of his colleagues in his section. If Mr. Abdullah wants to blow the whistle which of the following he has to do first? Approach immediate manager first O b. Go outside the company O c. Leave the company d. Discuss the issue with the familyWhich of the following isnot an environmental issue that businesses face? (A) waste management B nature's cycle of life and death air pollution and toxins deforestation and biodiversityIntroduction, key issue/s, analysis and recommendation sections for each separate scenario. ACC2273 “Is there anything wrong?” Scenario 1 You run a small business that takes older machines and refurbishes them to sell at a “charitable” price. You are doing good for the environment and helping those who need these machines get one at a reasonable price when otherwise they would not have been able to afford one. … yes, business is and can be about helping others, it is not all about making a profit and selling stuff to people that don’t necessarily need stuff. As the owner you have hired a few people to run the business. They look after purchasing and selling, collecting and distributing. You charge (sell the machines for) a small “up-charge” of 5% over cost to cover your operating costs. Some pertinent financial data for 2022: beginning inventory $5,000, ending inventory $6,000, purchases for the year $61,000 and sales for the year $15,000. Is there anything wrong with your…
- 4. Mr. Clark, a computer technician in a small village near Muscat is the only technician available in that village. He knows that now because of this pandemic situation most of the people are working from home on their personal computers and systems, so he uses to charge more price for any kind of repairs or services to the people compare to prices for the same services in Muscat where more technician is available. This action of Mr. Clark is: A. Unethical because businesses operate in a society and society has expectations of proper behavior of business. B. Ethical because it is not illegal for a company to set its prices high. C. Ethical because there is more demand for the service. D. Unethical because it is not only one way.1.4 ETHICS CASE: MANAGING COSTS Adapted from Textbook Case 2-32 High drug costs are often in the news. Consumer groups contend that the pricing for some drugs (e.g., HIV anti-retrovirals, Betaseron for multiple sclerosis) is "too high" considering that the cost to manufacture each dose is so low. They talk of price gouging and excessive profits. Pharmaceutical companies defend the prices charged on the basis of research and development costs. They state that the percentage of successful drugs emanating from research efforts is low and that it may take years before a promising drug passes through Food and Drug Administration (FDA) requirements and becomes available for sale. Exhibit 2.7 Understanding Different Cost Definitions VALUE CHAIN COMPONENT COST EXAMPLES MANAGERIAL OBJECTIVE External Financial Reporting • Inventory, cost of goods sold, and gross margin • Operating expenses (aggregated costs) Internal Strategic Analyses • New product development • Pricing decisions • Product mix…Paper factories emit chemicals as a waste product. This generates a cost to society that is not paid for by the firm; therefore, pollution is a negative externality of paper production. Suppose the U.S. government wants to correct this market failure by getting firms to internalize the cost of pollution. To do this, the government can charge firms for pollution rights (the right to emit a given quantity of chemicals). The following graph shows the daily demand for pollution rights. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. Suppose the government has determined that the socially optimal quantity of chemical pollution is 120 million tons per day. One way governments can charge firms for pollution rights is by imposing a per-unit tax on emissions. A tax (or price…