True. In the Lewis model, the supply curve of labour to the industry is indeed horizontal when there is a surplus of labour in agriculture.
This means that the quantity of labour supplied to the industrial sector remains constant regardless of changes in wages. The horizontal supply curve indicates that there is an abundant supply of labour available from the agricultural sector, which can be absorbed by the industrial sector without affecting the wage rate. This condition persists as long as the marginal product of labour in agriculture is lower than the marginal product of labour in industry. The marginal product of labour refers to the additional output produced by an additional unit of labour. If the marginal product of labour in industry is higher than in agriculture, it implies that workers can be more productive and contribute more to output in the industrial sector. As a result, there is a greater demand for labour in industry, leading to a surplus of labour in agriculture and a horizontal supply curve for labour in the industrial sector.
Overall, the horizontal supply curve of labour in the Lewis model reflects the availability of surplus labour in agriculture and the potential for labour to be absorbed by the industrial sector as long as the marginal productivity differential between the two sectors exists.
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The supply curve of labour to the industry in the Lewis model is horizontal if there is surplus labour in agriculture. This condition persists as long as the marginal product of labour in agriculture is less than the marginal product of labour in industry. True or false
Marketing communication strategy can be decided by conducting an image analysis by profiling the target audience in terms of ________.
A) brand knowledge
B) purchase patterns
C) demographic characteristics
D) income levels
E) psychographic characteristics
Correct option is E. psychographic characteristics. Based on psychographic characteristics, marketers can gain a deeper understanding of their customers' needs, desires, and aspirations.
Psychographic characteristics refer to the psychological and behavioral attributes of individuals, including their values, interests, attitudes, and lifestyles. Profiling the target audience in terms of psychographic characteristics can provide valuable insights into their motivations, preferences, and decision-making processes. This information helps in developing a marketing communication strategy that effectively appeals to the target audience and influences their behavior.
There is no specific calculation involved in profiling the target audience based on psychographic characteristics. Instead, it requires gathering qualitative data through surveys, interviews, focus groups, or market research studies to understand the target audience's psychographic traits.
By conducting an image analysis and profiling the target audience based on psychographic characteristics, marketers can gain a deeper understanding of their customers' needs, desires, and aspirations. This knowledge allows them to create tailored marketing messages, select appropriate communication channels, and develop strategies that resonate with the target audience, leading to more effective and targeted marketing communication efforts.
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All else equal, as the price of a product falls, the quantity supplied increases. T/F
All else equal, as the price of a product falls, the quantity supplied increases - True.
All else equal, as the price of a product falls, the quantity supplied increases. This statement reflects the basic principle of supply in economics known as the law of supply. According to this law, there is a positive relationship between the price of a product and the quantity supplied by producers.
When the price of a product decreases, producers are typically willing to supply a smaller quantity due to reduced profitability. Conversely, when the price of a product increases, producers are motivated to supply a larger quantity in order to maximize their profits.
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The state has attempted to streamline bureaucracy by implementing privatization which is the:______.
The state has attempted to streamline bureaucracy by implementing privatization, which is the transfer of government-owned assets or services to the private sector.
Privatization involves shifting the ownership, control, and management of public assets, enterprises, or services from the government to private entities. This can include various sectors such as transportation, utilities, healthcare, education, and more. The objective of privatization is to enhance efficiency, reduce bureaucratic inefficiencies, encourage competition, and improve service quality by introducing private sector expertise, innovation, and market-oriented practices.
By transferring responsibilities to the private sector, governments aim to streamline bureaucracy, reduce administrative burdens, and create a more agile and responsive system. Privatization can lead to improved service delivery, cost savings, and a more efficient allocation of resources. However, it can also raise concerns related to potential monopolies, reduced accessibility for marginalized communities, and the need for effective regulation to safeguard public interests.
Overall, privatization is a strategy employed by the state to streamline bureaucracy and leverage the capabilities of the private sector to deliver public services and manage assets more effectively and efficiently.
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marigold company acquires delivery truck at a cost of 50000 on january 1 2022 the truck is expected to have a salage value of
The annual depreciation expense for the first and second years of Marigold Company's delivery truck, using the straight-line method, is $5,750 for each year.
To calculate the annual depreciation expense using the straight-line method, we need to determine the depreciable base and divide it by the useful life.
Depreciable base = Cost of the truck - Salvage value
Depreciable base = $50,000 - $4,000 = $46,000
Annual depreciation expense = Depreciable base / Useful life
Annual depreciation expense = $46,000 / 8 years
1st-year depreciation expense = $46,000 / 8 = $5,750
2nd-year depreciation expense = $46,000 / 8 = $5,750
Therefore, the annual depreciation expense for the first and second years using the straight-line method is $5,750 each.
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--The given question is incomplete, the complete question is given below " Marigold Company acquires a delivery truck at a cost of $50.000 on January 1,2022 . The truck is expected to hive a salvage value of $4,000 at the end of its 8 -year useful life. Compute annual depreciation expense for the first and second years using the straight-line method"--
what does the subject of eschatology have to say to us today as we live our daily lives
Eschatology, the study of the end times or the final destiny of humanity, has several insights that can be relevant to our daily lives.
Firstly, eschatology reminds us of the temporary nature of our existence and the importance of living with a sense of purpose and meaning. Recognizing that life is finite can encourage us to prioritize what truly matters, such as our relationships, personal growth, and contributions to society. It reminds us to make the most of each day and not take our time for granted. Secondly, eschatology offers hope and comfort in challenging times. It highlights the belief in a future restoration or fulfilment of justice, peace, and harmony. This can provide solace when we face difficulties, injustice, or loss. Eschatological beliefs can inspire resilience, perseverance, and a commitment to working towards a better future, both individually and collectively. Additionally, eschatology can foster a sense of responsibility and stewardship towards the world and future generations. It emphasizes the interconnectedness of all beings and the importance of preserving and caring for the Earth. This can prompt us to adopt sustainable practices, advocate for environmental protection, and engage in social justice efforts that contribute to the well-being of current and future generations.
While eschatology may hold different interpretations and beliefs across religious and philosophical traditions, its overarching message encourages us to live with intention, seek meaning beyond material pursuits, find hope in challenging times, and embrace our responsibility towards the world and future generations. It offers insights that can guide our daily choices and actions, promoting a more mindful and purposeful way of life.
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