​What is the relationship between total surplus and economic efficiency?

Answers

Answer 1

Answer: When total surplus gets maximized, then economy meet economic efficiency.

Explanation:

Economic efficiency is described as a thinking that there is one possible way to make situation better by imposing a cost on another.

Total surplus is described as the sum of producer and consumer surplus.

It gets maximized in a perfect competition (hit free-market equilibrium).

i.e. It gets maximized when both consumer and producer surplus is maximum, and then the economy meet economic efficiency.


Related Questions

Given the following information. Which of the statements below can you support with this information?

Maximum capacity (labor hours): 480 hours per week
Effective capacity ratio: 85 %
Actual time worked: 380 hours per week over the last two weeks
On-time delivery %: 75 percent of the jobs are being completed on time

a. More capacity needs to be added in the short term to improve performance in the system.
b. We need to look at variability in the rate at which jobs enter the shop.
c. Our workforce is not working hard enough.
d. Our workforce may be waiting on delayed arrivals of inputs needed to do the work.
Describe the reasons why you selected the specific option(s) that you did.

Answers

Answer:

d. Our workforce may be waiting on delayed arrivals of inputs needed to do the work.

Explanation:

There are two possible sources for 25% of the jobs not being delivered on time:

we have a problem with inputs required (materials or labor)we have a problem with the capacity of our facility

If we followed Juran's Law, we can simply assume that the problem here has to do with our productive system (like 85% of production errors). Two clear problems are obvious:

only 380 hours worked out of total of 480 hours per week ⇒ why didn't anyone work during the remaining 100 hours? Is there a delay with the inputs or we don't have enough workers?only 85% of the facility's capacity is being used ⇒ why only 85% of the effective capacity ratio? If we are finishing jobs late, why do we have 15% of unused capacity?

Obviously we cannot answer these questions just be reading two paragraphs, but that is what should be answered in order to solve the issues.

It costs your company $240 to produce pens and pencils together. To produce the same amount of pens and pencils separately costs $100 for the pens and $120 for the pencils. The production of pens and pencils exhibits:_______
a. diseconomies of scope
b. economies of scope.
c. increasing returns to scale.
d. constant returns to scale.

Answers

Answer:

b

Explanation:

Brunette Company is contemplating investing in a new piece of manufacturing machinery. The amount to be invested is $180,000. The present value of the future cash flows generated by the project is $163,000. Should they invest in this project?

Answers

Answer:

No,  as the net present value comes in negative

Explanation:

As we know that

Net present value = Present value of cash inflows - Initial investment

where,

Present value os $163,000

And, the initial investment is $180,000

Now placing these values to the above formula

So, the net present value is

= $163,000 - $180,000

= -$17,000

Therefore the company should not accept the project as net present value is in negative that is -$17,000

Which of these does NOT describe a friction that might prevent firms from choosing the optimal level of capital? A. Making too big of a change can be more expensive than making a few smaller changes. B. A firm might not be able to borrow enough to pay for the investments it wants to make. C. The firm likes its workers and doesn’t want to replace some jobs with machinery. D. Some capital is very specialized and cannot be re-sold in cases of economic downturns.

Answers

Answer:

C. The firm likes its workers and doesn’t want to replace some jobs with machinery.

Explanation:

Optimal level of capital simply refers to an ideal strategy used by a firm to raise capital. For example, a firm may decide between debt financing or equity financing, depending on the company's desired level of capital.

So, an already operational firm with that likes its workers and doesn’t want to replace some jobs with machinery has no direct relationship with its level of capital.

Chester currently has $17,624 (000) in cash and management has decided to issue stocks and bonds worth an additional $8,000 (000). Assuming that cash from operations will be the same for each of the following activities, which activity exposes this company to the most risk of being issued an emergency loan?
a) purchasing $18,000 (000) worth of plant and equiptment
b) liquidate the new inventory
c) retiring the oldest bond
d) a $5 dividend

Answers

Answer: a) purchasing $18,000 (000) worth of plant and equipment

Explanation:

Of the 4 options listed, liquidating the new inventory would lead to a cash inflow and so is not going to lead to an emergency loan.

Retiring the oldest bond is something that would probably have been budgeted for so it will be less probable to cause Chester to seek emergency funding.

The activity that poses the greatest threat to Chester in terms of loan solicitation would be the purchase of plant and equipment. This would have less chance of being budgeted for and is a significant amount to leave the company which is even larger than the company's current cash amount. It has a higher chance of causing Chester to seek emergency loan funding.

Pam Erickson Construction Company changed from the completed-contract to the percentage-of-completion method of accounting for long-term construction contracts during 2015. For tax purposes, the company employs the completed-contract method and will continue this approach in the future. (Hint: Adjust all tax consequences through the Deferred Tax Liability account.) The appropriate information related to this change is as follows.

Pretax Income from:

Percentage-of-Completion Completed-Contract Difference

2014 $752,200 $586,700 $165,500
2015 683,500 444,700 238,800

(a) Assuming that the tax rate is 30%, what is the amount of net income that would be reported in 2015?

Net income $
(b) What entry(ies) are necessary to adjust the accounting records for the change in accounting principle?

Answers

Answer:

a. $478,450

b.Dr Construction in Process $165,500

Cr  Deferred tax liability  $49,650

Cr   Retained earnings  $115,850

Explanation:

A. Calculation for the amount of net income that would be reported in 2015 for Pam Erickson Construction Company

Using this formula

Net income =(Income before income tax ) Income before income tax-Tax rate

Let plug in the formula

Net income= $683,500 - (683,500 × 30%)

Net income= $683,500 - $205,050

Net income= $478,450

B. Preparation of the Journal entry(ies) that are necessary to adjust the accounting records

For Pam Erickson Construction Company

Dr Construction in Process $165,500

Cr  Deferred tax liability  $49,650

($165,500 × 30%)

Cr   Retained earnings  $115,850

($165,500 × (100%-30%)

Mountain Ski Corp. was set up to take large risks and is willing to take the greatest risk possible. Lakeway Train Co. is more typical of the average corporation and is risk-averse.
Projects Returns: Expected Value Standard Deviation
A $ 310,000 $ 173,000
B 676,000 413,000
C 163,000 120,000
D 134,000 101,000
a-1. Compute the coefficients of variation. (Round your answers to 3 decimal places.)
a-2. Which of the following four projects should Mountain Ski Corp.
A. Project B
B. Project A
C. Project C
D. Project D

Answers

Answer:

B. Project A

Explanation:

Coefficient of variation=standard deviation/expected return value

Project A:

Coefficient of variation=$173,000/$310,000= 0.558  

Project B:

Coefficient of variation=$413,000/$676,000=  0.611  

Project C:

Coefficient of variation=$120,000/$163,000=0.736

Project D:

Coefficient of variation=$101,000/$134,000=0.754

The Project A has the lowest rate of risk per unit of return, hence, it is the preferred choice of investment

If an investor's aversion to risk increased, would the risk premium on a high beta stock increase by more or less than that of a low-beta stock? Explain.

Answers

Answer:

risk premium increases by more of the low - beta stock

A risk averse investor is an investor that avoids risk. if risk aversion increases, it means that the investor is more wary of risky investment.

Beta measures the volatility of a portfolio. the higher the volatility, the more risky the portfolio is.

risk premium measures the rate of return in excess of the risk free rate.

According to CAPM :

risk free rate + (beta x stock risk premium)

Beta is a multiplier of stock risk premium, so the higher the beta, the more there would be an increase in the stock risk premium

If a risk averse investor invests in a high beta stock, he would want extra or higher compensation for holding such a volatile stock. this extra compensation would be in the form of a higher risk premium.

Explanation:

Determine the value-added, non-value-added, and total lead times, and the value-added ratio under the present and proposed production approaches. If required, round percentages to one decimal place. Present Approach Proposed Approach Value-added time 23 min 23 min Non-value-added time 1,582 min 105 min Total lead time 1,605 min 1,605 min Value-added ratio (as a percent) 14 % 21 %

Answers

Answer:

Hello some parts of your question is missing attached below is the missing part

Answer : value added times : 30 minutes , 30 minutes

               non-value added times: 1210 minutes, 130 minutes

               Total lead times : 1240 minutes,  160 minutes

               value added time as a ratio: 2.4%, 18.8%

Explanation:

Given data:

production batch sizes = 40 units

process step 1 = 6 minutes

process step 2 = 10 minutes

process step 3 = 6 minutes

process step 4 = 8 minutes

Determining : The value added, non-value added , total lead times and value added ratio under the present and proposed production approaches

UNDER PRESENT PRODUCTION APPROACH

Th value added time:

= summation of all process times = (6+10+6+8) = 30 minutes

Non-value added time:

=  Value added time *(Batch size -1) + move time between each step

= 30*39+8*5

= 1170 +40 = 1210 minutes

total lead time :

= value added time + non-value added time

= 30 + 1210 = 1240 minutes

value added time as a percentage/ratio

(value added time / total lead time) * 100

= 30 / 1240 * 100 = 2.4%

UNDER PROPOSED PRODUCTION APPROACH

value added time :

= summation of all process times = (6+10+6+8) = 30 minutes

Non-value added time :

=  Value added time *(Batch size -1) +  time between each step

= 30*4+2*5 = 120 + 10 = 130 mins

total lead time :

= value added time + non-value added time  = 30 +130 = 160 mins

value added time as a percentage/ratio:

(value added time / total lead time ) * 100

= (30 / 160) * 100 = 18.8%

The following data has been collected about Keller Company's stockholders' equity accounts: Common stock $10 par value 21,000 shares authorized and 10,500 shares issued, 1,100 shares outstanding $105,000 Paid-in capital in excess of par value, common stock 51,000 Retained earnings 26,000 Treasury stock 12,760 Assuming the treasury shares were all purchased at the same price, the number of shares of treasury stock is:

Answers

Answer:

9,400 shares

Explanation:

Treasury stock is the difference between issued shares and outstanding shares.

Number of treasure shares = Number of issued shares - Number of outstanding shares

Number of treasure shares = 10,500 - 1,100

Number of treasure shares = 9,400 shares

Therefore, number of treasury shares is 9,400

Which of the following is considered a source of general revenue in the Government-wide Statement of Activities?
A) Charges for Services
B) Operating Grants
C) Sales Tax

Answers

Answer:

C) Sales Tax

Explanation:

The Government-wide Statement of Activities shows the revenues and expenses of the government and the general revenues indicate all the taxes, aid received from other governments and earnings from investments. According to that, the answer is that the option that is considered a source of general revenue in the Government-wide Statement of Activities is sales tax.

Suppose an item sells for​ $125 in the United States and for​ 62,500 pesos in Chile. According to the law of one​ price, the nominal exchange rate​ (pesos/dollar) should be​ ________.

Answers

Answer:

$1 = 500 Pesos

1 Pesos = $0.002

Explanation:

$125 = 62,500 Pesos

$1 = 62,500 / 125

$1 = 500 Pesos

$1 = 500 Pesos

1 Pesos = $1 / 500

1 Pesos = $0.002

The development manager is required to choose between two projects. Project A has an IRR of 25% and project B has an IRR of 30%. Which of the following statements is correct? A. If she can invest only in one project, the manager will choose project B B. None of the statements above is correct C. If she can invest only in one project, the manager will choose project A D. If she can invest in both projects, the manager will choose both projects A and B

Answers

Answer:

A

D

Explanation:

Internal rate of return is the discount rate that equates the after tax cash flows from an investment to the amount invested.

Because the IRR of both projects are positive, both projects are acceptable.

If the manager can only choose one project, she should choose the one with the higher IRR because it would be more profitable.

The income statements for Federer Sports Apparel for 2022 and 2021 are presented below.
FEDERER SPORTS APPAR
Income Statement
For the Years Ended December 31
Year Increase Decrease
2019 2018 Amount %
Net sales 18,800,000 15,500,000
Cost of goods 13,200,000 7,000,000
Gross prof 5,600,000 8,500,000
Operating expenses 1,600,000 1,200,000
Depreciation expense 1,000,000 1,000,000
Inventory write-down 200,000 0
Loss (litigation) 1,500,000 300,000
Required:
Prepare a horizontal analysis for 2022 using 2021 as the base year.

Answers

Answer and Explanation:

The Preparation of horizontal analysis for 2022 using 2021 as the base year is prepared with the help of a spreadsheet.

Horizontal analysis is a method for the analysis of financial statements that indicates fluctuations in the amount of the related products over a period of time. It is a valuable instrument for determining trend situations.

So, with the help of the spreadsheet, we will be able to find the net income by using the formulas.

The horizontal analysis of the Income Statement is the analytical form of preparing the income statement to determine the accurate amount and percentage of changes in each item of the income statement.

The horizontal income statement is attached below.

The horizontal analysis determines the change in the amounts of each account. The percentage change is the division of a change in amount by the base amount of the base year.

In this case, the base year was 2021.

Therefore, the change in amounts will be determined based upon the figures of the base year.

To know more about horizontal analysis, refer to the link:

https://brainly.com/question/14698328

According to the CAPM, what is the market risk premium given an expected return on a security of 15.8%, a stock beta of 1.1, and a risk-free interest rate of 7%? Multiple Choice 7.70% 6.05% 7.00% 8.00%

Answers

Answer:

The risk premium on market is 8%

Explanation:

The CAPM or Capital Asset Pricing Model is used to calculate the required rate of return on a stock which is the minimum return that is expected or required by the investors to invest in a stock based on its systematic risk as measured by the beta of the stock.

The formula to calculate r under the CAPM is,

r = rRF + Beta * rpM

Where,

rRF is the risk free raterpM is the risk premium on market

To calculate the risk premium on market, we will input the available values for r, rRF and beta in the equation above.

0.158 = 0.07 + 1.1 * rpM

0.158 - 0.07 = 1.1 * rpM

0.088 / 1.1 = rpM

rpM = 0.08 or 8%

So, the risk premium on market is 8%

air pollution causes capital to wear out more rapidly, doubling the rate of depreciation. How would this affect economic growth?

Answers

Answer:

The economic growth will be lower.

Explanation:

The rise in pollution and the doubling of the rate of depreciation will affect economic growth adversely. However, rapid wear and tear of capital will cost the person and it will reduce the purchasing power. Thus, lower purchasing power will result in lower economic growth. Moreover, pollution creates three main problems that are reduced labor productivity, rise in health problems, and loss of crop yield. So the reduction in all these factors will also slow down economic growth.

DPMO stands for:______
a) Defects Per Million Opportunity
b) Defectives Per Million Opportunity
c) Data Per Million Opportunity
d) all of the above
e) none of the above

Answers

Answer:

a) Defects Per Million Opportunity

Explanation:

DPMO is an acronym which stands for Defects Per Million Opportunity. Defects per Million Opportunities refers to a standard metric which represents the number of defects in a process per one million opportunities.

In order to calculate the DPMO, we divide the number of defects by the number of opportunities and then multiply by a million.

Additionally, when a quality characteristics or properties do not tally with a standard or specifications it is generally referred to as a defect.

Hence, in a six sigma approach to quality or level of performance, the defects per million opportunities (DPMO) is 3.4.

Open space arrangements in workstations increase communication and potentially decrease noise, distractions, and loss of privacy.
a. true
b. false

Answers

Answer:

false

Explanation:

while open space arrangement increases communication, it also increases noise, distractions, and loss of privacy.

Answer:

b. False

Explanation:

Although open space arrangement in a workstation increases communication , yet such communication would eventually lead to an increase noise, distractions and loss of privacy. This is the reason why modern organizations preferred the use of cubicle in demarcating spaces allocated to their employees.

The advantage of using cubicle as demarcation is that there will be less noise and distractions hence leads to increase in productivity . An employee would also have his or her privacy unlike an open space arrangement.

Leslie works as customer service representative for Lighthouse Point Lanterns. Her job is to fulfill customer orders and answer any questions that the customer may have. In order to ensure the best service possible, Lighthouse Point Lanterns makes test phone calls to their customer service representatives and rates their ability to correctly answer customer calls. If Leslie properly handles 80% of the test calls, she will receive a 20% bonus in her next pay check. This is an example of:_________.

Answers

Answer:

a performance reward.

Explanation:

A performance reward is a type of employee reward system. Companies generally reward employees in an attempt to motivate them to work more, harder or more efficiently. E.g. a company may reward salespeople that close 100 sales per week, regardless of the type of sales made. This type of reward is based on the gross amount of work carried out by the employee.

In Leslie's case, she is being rewarded for being an efficient employee. The parameter for measuring her efficiency is that 80% of the test calls that she makes are handed properly. She is not rewarded on the number of test calls, but instead on how she handled them.

This is an example of a performance reward if Leslie is going to be rewarded with a 20% bonus for handling 80% of the test calls.

A performance reward is a reward that a customer receives in an organization which is based on how well they have performed in the business.

The reward system here has stated that if Leslie is able to meet up with the target that the business has placed for her to reach she would be rewarded with a bonus of 20% when she receives her next salary.

Read more on https://brainly.com/question/15188590?referrer=searchResults

A corporation is attempting to sell additional shares to its existing shareholders through a rights distribution. A shareholder who wishes to subscribe must send the purchase amount with the rights certificate to the:

Answers

Answer:

Right agent.

Explanation:

A rights agent is said to be a correlative junction, serve and also seen to be an obedient mediator and right assistance between his client and any form of third party organisation or also other clients. A right agent is sometimes seen to be reliable to a principal when he/she acts without actual authority, but with apparent authority. He is also held responsible for indemnify and also principal loss or damage resulting from his/her act. He is also keen and careful in his advise and dealing on behalf of his client is he owes certain contractual duties to his/her agent as he protect him also from wrong claims, expenses that are not worthwhile, liabilities etc.

Lilliput is a country that has closed borders and does not import or export any goods or services; hence, they do not worry about trade with other countries.
Total spending for the federal government of Lilliput for the last fiscal year was $1.06 billion. The country collected $1.05 billion in taxes during this same fiscal year. Assume government transfers were zero. Based on this information, what is Lilliput's budget balance? In the last fiscal year, Lilliput was running:______.
a. a budget surplus.
b. a balanced budget.
c. a budget deficit.

Answers

Answer: budget deficit

Explanation:

From the question, we are informed that the total spending for the federal government of Lilliput for the last fiscal year was $1.06 billion and that the country collected $1.05 billion in taxes during this same fiscal year.

Since the expenditure of $1.06 billion is more than the revenue of $1.05 billion, this show that there was a budget deficit.

Fed is open to changing bond policy Fed policymakers signaled for the first time that they could increase or decrease stimulation of the economy in the​ future, but not now. ​Source: Los Angeles Times​, May​ 1, 2013 What are the ripple effects and time lags that the Fed must consider in deciding when to increase or decrease stimulation of the​ economy?

Answers

Answer:

When the Fed raises the federal funds rate, the inflation rate decreases about two years later.

Explanation:

When trying to stimulate the economy either by increasing or decreasing, policymakers have to take into consideration how it would effect interest rate, amount of money available in the economy, loans that would be acquired by banks and the behavior of interest rate.

Interest rate can be impacted quickly even though the period of time it would take for such action to have a reflection on what quantity of money is available in the economy. Then also a period of 2 years would be taken for this action to take effect on inflation.

Therefore

When the Fed raises the federal funds rate, the inflation rate decreases about two years later.

What was the ratio of per capita income in each of the following countries to that in the United States in the year 2010:

a. Ethiopia
b. Mexico
c. India
d. Japan

Answers

Answer:

For   Countries (per capita)          United States of America (per capita)

Ethiopia:        

$380                                               $48,468

Mexico:                                          

$9,271                                             $48,468

India:

$1,358                                             $48,468

Japan:

$44,508                                          $48,468

Explanation:

Ratio per Capita also known as Gross Domestic Product per Capita (GDP Capita) is the monetary measure of the market value of all the final goods and services produced in a specific time period within the country in view. It is useful for comparing national economies of different countries on the international market.

I have question with it can you help me please??​

Answers

Answer:

Pick-up Later:

Set a pickup date

Process the transaction

Place all the items in the pickup area near the front of the store

Place a note on the items indicating they are sold.

Explanation:

The purpose of the above procedure is to enable the customer to take delivery of purchased goods hitch-free.  The pick-up area needs to be covered against rain so that the mulch and topsoil do not degrade.  It is assumed that the customer's contact information and payment have been secured before the arrangement for pick-up later.

A firm has net working capital of $2,715, net fixed assets of $22,407, sales of $31,350, and current liabilities of $3,908. How many dollars' worth of sales are generated from every $1 in total assets

Answers

Answer:

So, from every $1 of total assets, $1.08 worth of sales are generated.

Explanation:

To calculate how many dollars worth of sales are generated by $1 of total assets, we use the total assets turnover ratio. It is an accounting measure that measures the efficiency of the company's assets in generating sales. It calculates the dollar values of sales generated by each $1 of total assets. The formula for total assets turnover is,

Total Assets Turnover = Sales / Average Total Assets

We already know the level of sales. We need to determine the value of total assets first.

Total Assets = Fixed assets + Current Assets

As we know that net working capital = current assets - current liabilities,

So, the current assets are,

2715 = Current assets - 3908

2715 + 3908 = Current assets

Current assets = $6623

Total assets = 6623 + 22407

Total assets = $29030

Total Assets Turnover = 31350 / 29030

Total assets turnover = 1.0799 rounded off to 1.08

So, from every $1 of total assets, $1.08 worth of sales are generated.

The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account):
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
Budgeted unit
sales 12,200 13,200 15,200 14,200
The selling price of the company’s product is $21 per unit. Management expects to collect 65% of sales in the quarter in which the sales are made, 30% in the following quarter, and 5% of sales are expected to be uncollectible. The beginning balance of accounts receivable, all of which is expected to be collected in the first quarter, is $72,600.
The company expects to start the first quarter with 2,440 units in finished goods inventory. Management desires an ending finished goods inventory in each quarter equal to 20% of the next quarter’s budgeted sales. The desired ending finished goods inventory for the fourth quarter is 2,640 units.
Required
1-A. Complete the company's sales budget.
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year
Budgeted Units Sales
Selling Price Per Unit
Total Sales
1-B. Complete the schedule of expected cash collections.
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year
Beginning Accts Receivable
1st Quarter Sales
2nd Quarter Sales
3rd Quarter Sales
4th Quarter Sales
Total Cash Collections
2. Prepare the company’s production budget for the upcoming fiscal year.
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year
Budgeted Unit Sales
Total Needs
Required Production in Units

Answers

Answer:

1-A. Sales budget

                                   1st             2nd             3rd             4th

                             Quarter     Quarter       Quarter       Quarter        Year

Sales units              12,200      13,200        15,200         14,200    54,800

Price per unit           $21             $21             $21             $21           $21

Total sales          $256,200  $277,200   $319,200   $298,200   $1,150,800

1-B. Cash collections budget

                                   1st             2nd             3rd             4th

                             Quarter     Quarter       Quarter       Quarter        Year

Collections from  $72,600    $76,860     $83,160      $95,760   $72,600

previous quarter  

Collections from $166,530  $180,180  $207,480  $193,830  $1,003,900

current quarter  

Total                    $239,130  $257,040  $290,640 $289,690  $1,076,500

2. Productions budget

                                   1st             2nd             3rd             4th

                             Quarter     Quarter       Quarter       Quarter        Year

Sales units              12,200      13,200        15,200         14,200    54,800

Planned ending       2,640       3,040          2,840          2,640       2,640

inventory

Total production     14,840      16,240        18,040         16,840    65,960

required

- Beginning              2,440        2,640         3,040           2,840       2,440

inventory

Units to be              12,400      13,600        15,000         14,000     63,520

produced

Answer:

sells budget

Explanation:

The central problem in product-oriented layout planning is?

Answers

Answer: The minimizing the imbalance in the workloads among workstations.

Explanation:

Workspace can inspire informal and productive encounters if it balances what three physical and social aspects.

Waterway has a standard of 2 hours of labor per unit, at $12 per hour. In producing 3800 units, Waterway used 7350 hours of labor at a total cost of $89670. Waterway's labor quantity variance is

Answers

Answer:

Direct labor time (efficiency) variance= $3,000 favorable

Explanation:

Giving the following information:

Standard= 2 hours of labor per unit, at $12 per hour.

In producing 3800 units, Waterway used 7350 hours of labor.

To calculate the direct labor quantity variance, we need to use the following formula:

Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate

Standard quantity= 2*3,800= 7,600 hours

Direct labor time (efficiency) variance= (7,600 - 7,350)*12

Direct labor time (efficiency) variance= $3,000 favorable

Employees in a department are considered a team only when they directly interact and coordinate work activities with each other.

a. True
b. False

Answers

Answer:

True

Explanation:

Team can be defined as way in which group of people or individuals come together in one accord in order to carryout a task or an assignment for the purpose of achieving their aim,goals or objectives, which is why working together as a team either in a company or an organisation is vital and paramount because it help to create unity among employees and to enable the employees to interact and effectively coordinate their work activities with one another which will lead to the growth and success of the organisation or company.

It is always necessary for an agent to disclose the identity of the principal to any third person with whom he is contracting; otherwise the contract becomes void.

a. True
b. False

Answers

B is your answer have a nice day
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