An executive champion is a person who
A. coordinates the technological efforts of various business units.
B. possesses the status, authority, and resources to support an innovation or change.
C. has the technical skills needed to install and operate the technology.
D. is primarily responsible for securing employee acceptance and support for new ideas.
E. develops a new technology from scratch.
Answer: B
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As a farmer, Charles Forsythe is familiar with the economics of perfect competition. How is the price at which he sells his corn determined?
A. It is determined by Charles because he has the product that many people want. B. The price is determined by combining the actions of all buyers and all sellers together. C. The price he will receive is primarily determined by the buyer at the local grain bin. D. The government sets the price of the corn to level the playing field for everyone. E. The price will be approximately 25 percent higher than what other farmers are selling the same corn for because Charles is an astute businessperson.
Which of the following is an example of a contract contrary to public policy?
A) A purchases a motorcycle from B at a price much lower than its real value. B) A agrees to sell 1000 tonnes of rice to the local government. C) A agrees to appoint B as sheriff, provided he helps him win the local elections. D)A agrees to give $100 to B if he wins the lottery.
Todd Smith paid $891.75 in interest on a 9-month note for $8,200. What rate of interest did Todd pay on the note?
The Varsity Club sells souvenir items at university sporting events for $24 each. The souvenir items cost $16 each. The club is negotiating with the university administration to sell the items in a kiosk in the university student center. Three rental arrangements are under consideration:Option 1: Pay rent of $2,000Option 2: Pay rent of $1,200 plus 10% of revenueOption 3: Pay the university 25% of revenueThe club estimates that it will be able to sell 300 souvenir items during the period.Required:1) Compute the break-even point in units for each of the three options.2) Assuming the club reaches its sales target, which option should be chosen?
What will be an ideal response?