Why is demand in the business market mostly inelastic?
What will be an ideal response?
The total demand for many business products is not much affected by price changes, especially in the short run. A drop in the price of leather will not cause shoe manufacturers to buy much more leather unless it results in lower shoe prices that, in turn, increase consumer demand for shoes.
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The journal entry to write down inventory to its market value results in a loss on the income statement
a. True b. False Indicate whether the statement is true or false
Types of risks that a project can face include ______.
A. the possibility that the project runs into financial risks B. the possibility that the project is in compliance with government requirements C. the possibility that the project costs are significantly below that budgeted D. the possibility that the project is completed well ahead of schedule
Jack Gangi sells ad space for companies that wish to advertise on buses. As he is selling ad space to a local art gallery owner, he closes by saying, "Since you know so much more about color and design than I do, I can learn a lot working with you developing this ad." This is an example of a(n) ________ close.
A. minor-points B. standing-room-only C. alternative-choice D. summary-of-benefits E. compliment
Schedules may have to be revised frequently due to factors such as machine breakdowns, processing delays at work centers, and the like. This is the drawback of ______.
A. fixed loading B. iterative loading C. finite loading D. infinite loading