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maksim [4K]
2 years ago
7

On the island of Mabera, the local money is called "favoli." The price of every good in Mabera is expressed as the number of fav

olis needed to buy the good. The use of favolis to express the price of goods describes which function of money?
Business
2 answers:
tatuchka [14]2 years ago
7 0

<u>Answer:</u>

The correct option is Unit of account

<u>Explanation:</u>

One of the functions of money is Unit of accounts in economics. The worth of an object is measured in a distinct currency. One of the downfalls of unit of account is that it is regarded as the steady unit of account but inflation factor devastate the said assumption that money is steady. It is regarded as the basic property of the money.

Thus, the correct option will be Unit Of Account.

erastova [34]2 years ago
3 0

Medium of exchange

Explanation:

Favoli works as “medium of exchange” on the island of Mabera.

Explanation- “Medium of Exchange” refers to the property of money by which it increases the interaction between the buyer and a seller. On the island of Mabera, every commodities price is expressed in the count of Favoli. There-by it means Favoli forms a medium of common exchange where any commodity can be converted into equivalent units of Favoli and vice-versa.

This is the most common use of money and it can be seen as the evolution over the traditional barter system which suffers from the “lack of wants”.

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dmitriy555 [2]

The answer in the space provided is sales presentation. In this stage of selling process, it is where a sales representative tries to determine which the buyers wants and he or she would likely present products that would make the buyers think or to have a thought of buying the product that has been offered down to him or her.

6 0
2 years ago
A hot dog vendor sells an average of 50 hot dogs during a Little League baseball game. If the sales are Normally distributed wit
Kobotan [32]

Answer:

74.64%

Explanation:

Average sales (μ) = 50 hot dogs

Standard deviation (σ) = 7 hot dogs

In a normal distribution, the z-score for any given number of hot dogs sold, X, is determined by:

z=\frac{X-\mu}{\sigma}

For X = 45 hot dogs:

z=\frac{45-50}{7}\\ z= -0.7143

For X = 65 hot dogs:

z=\frac{65-50}{7}\\ z= 2.1429

A z-score of -0.7143 falls in the 23.75th percentile of a normal distribution while a z-score of 2.1429 falls in the 98.39th percentile.

Therefore, the probability that he vendor will sell between 45 and 65 hot dogs is:

P(45 \leq X \leq 65) = 98.39-23.75\\P(45 \leq X \leq 65) = 74.64\%

5 0
1 year ago
Which activity is the fourth step in the decision-making process of solving a workplace problem?
Fofino [41]

Which activity is the fourth step in the decision-making process of solving a workplace problem? C. Implement the solution

The first step is is to identify the goal, then gather the information and generate alternatives, evaluate the consequences, implement the solution

When you implement the solution you are deciding the best choice after considering the alternatives and putting the plan into action.

5 0
1 year ago
Read 2 more answers
39. You expect to receive $5,000 in 25 years. How much is it worth today if the discount rate is 5.5%?
ivann1987 [24]

Answer:

PV= $1,311.17

Explanation:

Giving the following information:

Future Value (FV)= $5,000

Number of periods (n)= 25 years

Interest rate (i)= 5.5% compounded annually

T<u>o calculate the present value (PV), we need to use the following formula:</u>

<u></u>

PV= FV / (1+i)^n

PV= 5,000 / 1.055^25

PV= $1,311.17

6 0
1 year ago
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VashaNatasha [74]

Answer:

Reactively, Proactively.

Explanation:

The above statement deals computing forces companies dealings with customers. Generally, in real-life dealings, we cannot afford to have a choice between Proactive and Reactive approaches. Proactive approach is generally more effective in terms of avoiding /reducing loss of life and property etc. however, it depends on the situation, time available to take action and resource availability. I have seen that even in the case of worst natural disasters like cyclones , proactive approach by civic authorities ,on the basis of limited scientific forecast inputs available, helped in averting major damages.

However, if there is a sudden accident, we have no other choice but to react on the spot. In some situations, like disasters ( man-made or natural) , a combination of proactive and reactive approaches can be more effective.

6 0
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