Explain time utility
The concept of time utility is similar to that of place utility. For example snow shovels have little utility in the Bahamas, and significant utility in North Dakota. The snow shovels' utility is also impacted by time. While snow shovels have greater utility in the Dakotas than Bahamas they have little utility in August in North Dakota. Their utility is impacted by the time of the year and more specifically snow fall.
An item in the same market may have tremendous demand or no demand at all based upon time.
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The equation that allows us to compare dollar amounts to be received at different dates is the
A. present-value formula. B. Taylor rule. C. interest-rate parity equation. D. ?Roy's identity
The four constructs that make up our schemata are ______, ______, ______, and _______.
Fill in the blank(s) with the appropriate word(s).
Which of the following is typically the first step in the employee management process?
A. Recruiting employees B. Motivating employees C. Socializing employees D. Evaluating employees E. Training employees
On-Call Service Corporation bought a building lot to construct a new corporate office building. An older home on the building lot was razed immediately so that the office building could be constructed. The cost of purchasing the older home should be
a. recorded as part of the cost of the land. b. written off as a loss in the year of purchase. c. written off as an extraordinary item in the year of purchase. d. recorded as part of the cost of the new building.