Premium Essay

Chapter 5 Questions

In:

Submitted By Mnbvcxz123
Words 622
Pages 3
Chapter 5 Assignment

4. (Determinants of Price Elasticity) Why is the price elasticity of demand for Coca-Cola greater than the price elasticity of demand for soft drinks generally?
• One of the key determining factors for elasticity of price when it comes to demand is how many existing substitutes there are for it. The broader the definition of a particular product the less elastic the demand for that product would be, making for a less elastic demand which is the case of “soft drinks.” When the cost of soft drinks change, the measurement of the elasticity would take into account the different types of beverages that are available for a person to consume that are not in the soft drink category (examples: water, juices, cold/hot coffees, etc.). The opposite is true for Coca-Cola because there is a much more narrow definition and there are more substitutes for Coca-Cola such as Pepsi, RC, Dr. Pepper etc. When the cost of Coca-Cola undergoes a change, elasticity would reflect a measurement of individuals switching to other types of both soft drinks and drinks that are not. Since Coca-Cola has a greater number of substitutes for it they would have a larger price elasticity.
5. (Determinants of Price Elasticity) Would the price elasticity of demand for elasticity be more elastic over a shorter or a longer period of time?
• The price elasticity of demand for elasticity would be greater if there were a lengthier time allowed for adjustment and there would be a greater responsiveness when it comes to the change there would be for the amount which is demanded by individuals in response to a particular alteration in cost. In other words, the demand for a product will have a greater elasticity the longer the time. This time allows for substitution of products and/or services.
7. (Cross-Price Elasticity) Rank the following in order of increasing (from negative

Similar Documents

Free Essay

Meteorology Chapter 5 Questions

...Chapter 5, Review Questions ________________________________________________________________________ 1. How does Dalton’s law apply to the atmosphere? 2. Provide a definition of air pressure that applies to Earth’s surface and any altitude within the atmosphere. 3. Compare the advantages and disadvantages of mercury barometer versus an aneroid barometer. 4. Explain how air pressure tendency can be a useful indicator of future weather. 5. Air is a compressible mixture of gases. How does this property of air affect the rate at which air pressure decreases with increasing altitude? 6. How does a change in temperature affect air density? How does a change in humidity affect air density? 7. Why does a cold, dry air mass exert a greater surface air pressure than an equally cold but more humid air mass? 8. Why are air pressure readings adjusted to what they would be if the weather station were actually located at sea level? 9. Distinguish between Charles’ law and Boyle’s law. 10. Why is the dry adiabatic lapse rate greater than the moist adiabatic lapse rate? Chapter 5, Critical Thinking Questions ________________________________________________________________________ 1. Is there some altitude which clearly marks the top of the atmosphere? Explain your response. 2. On televised weathercasts, air pressure is often reported in units of length (inches) rather than units of pressure (millibars). Explain why. 3. On a particularly warm...

Words: 423 - Pages: 2

Premium Essay

En 1320 Chapter 5 Questions

...Chapter 10 1. Typical organization for an argument essay is An introduction, And objective summary, a point-by-point discussion, a summary, and a conclusion 2. Two points of contention are “My position” and “Opposing Position”. You identify them in online sources, Print sources, and Empirical Sources. 3. It’s important to know the stance of your opposition so you can fairly point out the weakness in your opponents’ argument. 4. When you are arguing you are using facts to fairly prove somebody or something wrong, when you’re doing research your using credible sources and information to back up a particular topic that you are searching for. Chapter 24 1. A good way to start the research process is to define a research question and sharpen it, Develop a working thesis or hypothesis, and Decide a research plan to collect information needed to answer your research question 2. Sharper research questions will help you narrow the scope of your research, saving you time and effort by allowing you to target the best of sources and information. 3. A working thesis is your best guess about how you will answer your research question 4. Key elements of a research plan are Research question, working thesis, results of start-up research, Description of electronic, online, print and empirical sources available, schedule for conducting and completing the research, bibliography. It is necessary for the researchers to have this to better target sources and streamline...

Words: 543 - Pages: 3

Premium Essay

Test 5 Chapter Study Questions

...Chapter Study Questions Exam Five 2305 (Chapters 4, 5, and 9) The Enduring Democracy Third Edition, 2013-2014, Dautrich and Yalof, Cengage Publishing. Be sure to skip a line between the question and the answer and skip another line before the next question. Chapter Four: Civil Liberties 1. What are civil liberties and when did individual rights recognized by government first appear in a legal charter? What charter? 73 - Those specific individual rights that are guaranteed by the Constitution and cannot be denied to citizens by government. Most of these rights are in the first 10 amendments to the Constitution, known as the Bill of Rights. The original English legal charter, the Magna Carta of 1215. 2. How are civil liberties different from civil rights? 73 - Civil liberties may be distinguished from civil rights (sometimes called equal rights), which refer to rights that members of various groups (racial, ethnic, sexual, and so on) have to equal treatment by government under the law and equal access to society’s opportunities. 3. What were the Alien and Sedition Acts and were editors if newspapers actually jailed? 74 - Alien Act, which authorized the president to deport from the United States all aliens suspected of “treasonable or secret” inclinations; the Alien Enemies Act, which allowed the president during wartime to arrest aliens subject to an enemy power; and the Sedition Act, which criminalized the publication of materials that brought the U.S. government...

Words: 10537 - Pages: 43

Free Essay

Critical Thinking Questions for Chapter 5

...Compound growth rates are exponential over time. Explain. Growth rates, as well as interest rates, are not linear, but rather exponential over time. In other words, the growth rate of the invested funds is accelerated by the compounding of interest. Over time, the principal amount you receive interest on will get larger with compounding, thus generating higher interest payments 5.9 What is the Rule of 72? This is a rule of thumb to determine how fast an investment can double. It is a rule that allows you to closely approximate the time that it would take to double your money. It works well with interest rates between 5 and 20 percent but varies more with higher rates. The Rule of 72 says that the time to double your money (TDM) approximately equals 72/i, where i is expressed as a percentage. 5.10 You are planning to take a spring break trip to Cancun your senior year. The trip is exactly two years away, but you want to be prepared and have enough money when the time comes. Explain how you would determine the amount of money you will have to save in order to pay for the trip. First, determine how much money you will need for the trip. Second, check how much you already have and how it translates into future value cash—how much it will be worth in two years. Next, determine how much you will have to deposit today, given the bank's offered interest rate, to ensure that you will have saved up the difference when the time for your senior spring break comes....

Words: 271 - Pages: 2

Free Essay

Chapter 5 Page 143 Questions Ost2335

...OST2335 COMM. IN THE WKFORCE - Fall 2012 ONLINE 412734  Assignment #2 (Chap 5) (Attempt 1 ) TO: FROM: DATE: October 27, 2011 SUBJECT: Chapter 5, Page 143  Complete 5.10 though 5.13 on page 143 of your text book. * 5.10- Rewrite the 5 sentences in plain language; remove the wordiness and buzzwords. a. Being a jack-of-all-trade, Dave worked well in his new general manager job. Being a skilled person, Dave worked well in his new general manager job. b. Moving Leslie into the accounting department, where she was literally a fish out of the water, was like putting a square peg into a round hole, if you get my drift. Moving Leslie into the accounting department, was a bad idea, she doesn’t have the knowledge for this position. c. My only take away from the offsite was that laird threw him entire department under the bus for missing the deadline. My only way from the offsite was that laird threw him entire department in trouble for missing the deadline. d. I’d love to help with the project, but I’m bandwitdth-constrained I would love to help with the project, but I don’t have the knowledge. e. The board green-lighted our initiative to repurpose our consumer products for the commercial space. The board approved our initiative to repurpose our consumer products for the commercial space. * 5.11- Replace the 15 words with simple words. a. Inaugurate: start b. Terminated: ended c. Utilize: Use d. Anticipate: Look forward...

Words: 534 - Pages: 3

Premium Essay

Chapter 4 Review Questions 1-5

...Chapter 4 “IT Infrastructure: Hardware and Software” Review Questions 1-5 1. What are the components of IT infrastructure? • Define information technology (IT) infrastructure and describe each of its components. IT infrastructure consists of the shared technology resources that provide the platform for the firm’s specific information system applications. Major IT infrastructure components include computer hardware, software, data management technology, networking and telecommunications technology, and technology services. 2. What are the major computer hardware, data storage, input, and output technologies used in business? * Computer Hardware: Mainframes, midrange computers, PC’s, workstations, and supercomputers. * Data Storage: Magnetic disk, optical disc, magnetic tape and storage networks. * Input devices: Keyboards, computer mice, touch screens (including those with multitouch), magnetic ink and optical character recognition devices, pen-based instruments, digital scanners, sensors, audio input devices, and radio-frequency identification devices. * Output devices: Display monitors, printers, and audio output devices. • List and describes the various type of computers available to businesses today. * Mainframes are a large-capacity, high-performance computer that can process large amounts of data very rapidly. * Midrange computers are servers computers are specifically optimized to support a computer network, enabling users to share files...

Words: 3229 - Pages: 13

Free Essay

1 and 3 in Chapter 5, and Questions 8 and 9 in Chapter 6.

...Do 1 and 3 in chapter 5, and questions 8 and 9 in chapter 6. For Chapter 5 question 1: One of the potential problems mentioned in the chapter with gathering information requirements by observing potential system users is that people may change their behavior when observed. What could you do to overcome this potential confounding factor in accurately determining information requirements? (5 points) There is no doubt that an employee may change their attitude or work behavior when they are being observed. One thing that I would do is keep observing the employee, however informing the employee before the observation would allow the employee to attempt to work with their best quality while being observe. This will allow the observer to identify the issues that the worker really has. For Chapter 5 question 3: Suppose you were asked to lead a JAD session. List ten guidelines you would follow in playing the proper role of a JAD session leader. (5 points) Chap 5, Question 3: Ten Guidelines listed 1. Limit the distraction to focus on meeting 2. Set an agenda and keep the session on track 3. Always remain neutral  4. Identify and address critical political and organizational issues early 5. Establish the executive sponsor as the tiebreaker 6. Facilitator should be train and be critically involved  7. Team attendance and participation are mandatory 8. Respond to ideas that relate to the project  9. Keep the team in check on topics that relate to the meeting  10. Involve...

Words: 353 - Pages: 2

Free Essay

Chemistry Chapter 5 Practice Test Questions

...Chapter 5 1. In a double bond _______ electrons are shared between two atoms. a. 2 b. 3 c. 4 d. 6 2. Which molecule has a triple bond? a. H2 b. F2 c. Cl2 d. N2 3. Which central atom has eight electrons around it when it forms the covalent compounds? a. AlCl3 b. phosphorus pentachloride c. sulfur hexafluoride d. methane 4. what is the molecular geometry for PCl3. a. trigonal planar b. tetrahedral c. linear d. pyramidal 5. Which is the shortest bond? a. N–N b. N=N c. N≡N d. All three bond lengths should be about the same 6. Based on the indicated electronegativities, arrange the following in order of increasing ionic character: CsBr, LaBr3, PBr3, MgBr2. a. CsBr, LaBr3, MgBr2, PBr3 b. CsBr, MgBr2, PBr3, LaBr3 c. PBr3, LaBr3, MgBr2, CsBr d. PBr3, MgBr2, LaBr3, CsBr 7. The oxygen-oxygen bond in O2 has a bond order of a. 3 b. 1 c. 2 d. 6 8. Which of the following contains an atom that does not obey the octet rule? a. KBr b. CO2 c. ClF3 d. ICl 9. How many lone pairs of electrons are on the Xe atom in XeF6? a. 0 b. 1 c. 2 d. 3 10. What is the molecular geometry of IF5? a. octahedral b. seesaw c. square pyramidal d. trigonal bipyramidal 11. A single sp3 hybrid orbital has a. one lobe. b. two lobes of equal size. c. two lobes of unequal size. d. four lobes of equal size. 12. A double bond is generally composed of a. three π bonds. b. one π bond and one σ bond. c. one π bond and two σ bonds. d. three σ bonds...

Words: 750 - Pages: 3

Premium Essay

Physics 1: Chapter 5 Quiz Questions

...scalar product of the two vectors shown. 1) +96 2) -96 3) +51 4) -51 5) -35 A 2.0-kg block sliding on a frictionless horizontal surface is attached to one end of a horizontal spring (k = 600 N/m) which has its other end fixed. The speed of the block when the spring is extended 20 cm is equal to 3.0 m/s. What is the maximum speed of this block as it oscillates? 1) 4.6 m/s 2) 5.3 m/s 3) 5.7 m/s 4) 4.9 m/s 5) 3.5 m/s A block slides on a rough horizontal surface from point A to point B. A force (magnitude P = 2.0 N) acts on the block between A and B, as shown. Points A and B are 1.5 m apart. If the kinetic energies of the block at A and B are 5.0 J and 4.0 J, respectively, how much work is done on the block by the force of friction as the block moves from A to B? 1) -3.3 J 2) +1.3 J 3) +3.3 J 4) -1.3 J 5) +4.6 J 1) +96 1) 4.6 m/s 1) -3.3 J A 1.5-kg object moving along the x axis has a velocity of +4.0 m/s at x = 0. If the only force acting on this object is shown in the figure, what is the kinetic energy of the object at x = +3.0 m? 1) 18 J 2) 21 J 3) 23 J 4) 26 J 5) 8 J A force acting on an object moving along the x axis is given by Fx = (14x - 3.0x2) N where x is in m. How much work is done by this force as the object moves from x = -1 m to x = +2 m? 1) +12 J 2) +28 J 3) +40 J 4) +42 J 5) -28 J If = 5.0, = 8.0, and a = 30°, determine the scalar product of the two vectors shown. 1) -35 2) +35 3) -20 4) +20 5) +40 1) 18 J 1) +12 J 1) -35 A 3.0-kg block is on a...

Words: 3009 - Pages: 13

Premium Essay

Pricinples of Information Security, Chapter 5 Review Questions

...1. How can a security framework assist in the design and implementation of a security infrastructure? Designing a working plan for securing the organization s information assets begins by creating or validating an existing security blueprint for the implementation of needed security controls to protect the information assets.  A framework is the outline from which a more detailed blueprint evolves.  The blueprint is the basis for the design, selection, and implementation of all subsequent security policies, education and training programs, and technologies.  The blueprint provides scaleable, upgradeable, and comprehensive security for the coming years.  The blueprint is used to plan the tasks to be accomplished and the order in which to proceed. What is information security governance? Governance is “the set of responsibilities and practices exercised by the board and executive management with the goal of providing strategic direction, ensuring that objectives are achieved, ascertaining that risks are managed appropriately and verifying that the enterprise’s resources are used responsibly.”1 Governance describes the entire process of governing, or controlling, the processes used by a group to accomplish some objective. Just like governments, corporations and other organizations have guiding documents—corporate charters or partnership agreements—as well as appointed or elected leaders or officers, and planning and operating procedures. These elements in combination provide...

Words: 4589 - Pages: 19

Premium Essay

Petrie's Electronics Chapter 4 Questions 1-5

...1. Look over the scope statement (PE Figure 5-1). If you were an employee at Petrie’s Electronics, would you want to work on this project? Why or why not? ANS:Yes, because the project seems great . It will benefit the company and be fun and easy. There is a great team to support it as well. 2. If you were part of the management team at Petrie’s Electronics, would you approve the project outlined in the scope statement in PE Figure 5-1? What changes, if any, need to be made to the document? ANS:Yes. It has great information about the project and everyone backing it up. It shows what the purpose of the project is and it would benefit the company. There would be a good return on investment if the project works out. 3.ANS: Tangible costs :We think there would be hardware costs, labor costs, and operational costs. There will be employee training and building renovation costs too. Intangible costs: loss of customer goodwill, employee morale, and operational inefficiency. intangible benefits: There might be promotion of organizational learning and understanding, because they were in the project to learn. There might be improved processing efficiency, because they know the procedures more better. 4.ANS: We think it might be a high-risk project since the project size and structure are pretty large, and the user group don't seem very familiar with the development process. Since larger projects and little familiarity cause higher risks, We justify our answer. If we were a part...

Words: 484 - Pages: 2

Free Essay

Intro to Human Resources Unit 2: Chapter 5 Questions

...Chapter 5 Questions 1. What is a job analysis? Why should a company perform job analysis for the organization's jobs? Job Analysis refers to the various methods that are used to analyze the requirements of the job. Two tools used for this include the job description and mission statement of an organization. Organizations should always perform job analysis for their jobs to ensure their employee selection is valid and defensible; thus accurately measuring the requirements of the job itself in a fair and reliable way. Essentially, a valid selection procedure should effectively measure whether or not the applicant’s qualifications match those that are needed for the job, and not much more or less. 2. Describe three major methods or techniques that organizations use for job analysis process. Three major techniques utilized by organizations and companies in the job analysis process include Narrative Job Analysis, Task-Analysis Inventory, and the Position Analysis Questionnaire. Narrative Job Analysis is a narrative or descriptive set of information about a particular job or position within an organization. The quality of the information contained in the description typically depends on the writing skills of the analyst. Task-Analysis Inventory refers to a set of methods with the goal of analyzing all the tasks performed in the focal job. Once a list of tasks is developed for the job, an analyst will evaluate each task on things such as amount of time spent, frequency, etc...

Words: 456 - Pages: 2

Premium Essay

Chapter 18 Question 3 and Chapter 23 Question 1 and 5 of the Legal Environment of Business in the Information Age

...Chapter 18 The federal government regulates labels, warranties, and consumer products. Without government regulation, what abuses are likely to occur? The abuses that are likely to occur without government regulation are more illnesses, deaths and allergic reactions from not knowing what is in the product. If companies were not regulated by the government then you would have mislabeling. By this I mean you could have items that are marked low fat or low sodium when that is not the case. They would not have to include whether or not it was made with or surrounding peanuts and we all know the consequences of that. Having the government regulate labels, warranties and consumer products is very beneficial to the consumers as they are able to make more educated decisions by knowing what they are selecting. Chapter 23 Compare the minimum contacts test, as it is applied to the bricks-and-mortar activity of businesses, to their cyberspace activity. If you were a small business, seeking to sell to customers located in other states, what are some things you could do to avoid having states where these customers live require you to collect sales tax? Some of the things you could do to avoid having to pay taxes to states where the customers live is by not receiving the benefits from that state. You could also use mail-order catalog sales. If the business only sends the catalog to residents of a particular state that is not sufficient enough to subject the company to...

Words: 390 - Pages: 2

Free Essay

Bus 309 Wk 6 Quiz 5 Chapter 6 - All Possible Questions

...BUS 309 WK 6 Quiz 5 Chapter 6 - All Possible Questions To Purchase Click Link Below: http://strtutorials.com/BUS-309-WK-6-Quiz-5-Chapter-6-All-Possible-Questions-BUS3096.htm BUS 309 WK 6 Quiz 5 Chapter 6 - All Possible Questions 1. In 2009 the FDA was empowered to regulate 1. Alcohol 2. Candy 3. Pornography 4. Cigarettes 1. Every year, consumer products electrocute approximately 1. 100 people a year 2. 200 people a year 3. 400 people a year 4. 600 people a year 1. The court case that established consumers’ rights to sue the manufacturer of products was 1. Roe v. Wade 2. Griggs v. Palmer 3. MacPherson v. Buick Motor Car 4. Brown v. Board 1. In 1972 Congress passed the 1. Consumer Produce Recall Act 2. Consumer Product Safety Act 3. Consumer Recall Liability Act 4. Consumer Product Liability Act 1. Had air bags been standard equipment in 1974, how many deaths might have been prevented? 1. 70,000 2. 80,000 3. 90,000 4. 100,000 1. When did a government agency begin testing candy for its potential to choke children? 1. 1987 2. 1997 3. 2000 4. 2003 1. Iacocca used to say “Safety doesn’t…” 1. Hurt 2. Sell 3. Corrupt 4. Produce 2. Cigarette fires are responsible for how many serious injuries a year? 1. 2000 2. 4000 3. 6000 4. 7000 1. The claim that a product is fit for its ordinary use is 1. An implied warranty 2. An explicit warranty 3. A condition of sale 4. A consumer risk 1. When manufacturers and retailers...

Words: 780 - Pages: 4

Premium Essay

Bus 405 Wk 6 Quiz 5 Chapter 7 - All Possible Questions

...BUS 405 WK 6 Quiz 5 Chapter 7 - All Possible Questions To Purchase Click Link Below: http://strtutorials.com/BUS-405-WK-6-Quiz-5-Chapter-7-All-Possible-Questions-BUS4055.htm BUS 405 WK 6 Quiz 5 Chapter 7 - All Possible Questions TRUE/FALSE 1. The majority of private sector union contracts do not contain a cost-of-living adjustment (COLA) clause. 2. The majority of private sector employees participate in a profit sharing plan. 3. Most unions consider gain sharing plans as an adequate substitute for traditional negotiated hourly wage gains. 4. The global economy of today has made it easier for employers to pass labor cost increases on to consumers by raising product or service prices. 5. Skill-based pay sets the wage rate according to a job's title (type). 6. Wages and other economic benefits represent income to employees, costs to an employer, and a basis for tax revenue to the government. 7. The majority of private sector union contracts contain a two-tier pay plan. 8. Union leaders favor job evaluation more than managers for use in designing the wage structure. 9. If a union wishes to encourage solidarity within its membership at a particular firm, it should not negotiate for a two-tier pay plan. 10. Labor market wage surveys are not used to ensure that a firm's wage structure is externally equitable. 11. Wage comparability is a fairly easy concept to apply to set wage rates for different jobs. 12. The monetary value of employee benefits...

Words: 1302 - Pages: 6