Concept Description Aggregate Demand – The total amount of goods and services consumers are willing to buy. – Example: all the products and services that people, businesses, and the government will buy Aggregate Supply – The total supply of all the goods and services available in an economy. – Example: all the products and services … Read more
A list of interpersonal skills Encoding messages All messages must be encoded into a form that can be conveyed by the communication channel chosen for the message. We all do this every day when transferring abstract thoughts into spoken words or a written form. However, other communication channels require different forms of encoding, e.g. text … Read more
Term/Concept Definition What is a corporation? A corporation is a separate legal entity or legal person. Legal entity A legal entity has the capacity to enter into contracts, assume obligations, sue and be sued. Corporate entity A corporate entity is legally distinct from its members and can hold property and be sued. What can be … Read more
Factors to consider when selecting a medium to communicate bad news The number of people/audience Every communication medium has its optimum audience number and critically analyzing the objective and requirements of each medium is crucial. If the intention is to communicate bad news to many people, the electronic medium is more convenient. However, if communication … Read more
An autocratic leader has absolute power over the followers and allows minimal input from the team. A bureaucratic leader follows rules rigorously and makes sure the follows adhere to those rules as well, failure to which they are punished. A charismatic leader is a leader who inspired followers to be enthusiastic and is considered a source of inspiration … Read more
The federal bank controls the economy by regulating country’s interest rates, aggregate demand, and money supply The three functions of money are acting as store of value to transfer purchasing power from present to future, medium of exchange between buyers and sellers and a unit of account. Money supply can be categorized into three groups … Read more
Adaptive immunity is the body’s ability to recognize and mount an effective immune response against invaders whether bacteria, protozoa, or viruses. Adaptive immunity relies on antibodies that are produced by differentiation of B cells, and which recognize antigens. Antigens are molecules that trigger an immune response and maybe a portion of a cell, a whole organism, … Read more
Timmco, Inc. is a publicly traded corporation located in Denton, Texas that makes and sells high pressure industrial spraying equipment used in all sorts of commercial liquid spraying applications. It prides itself on top quality and promotes its products as “100% made in the USA”.Sales have been declining recently due to competition from lower priced … Read more
Timmco, Inc. is a publicly traded corporation located in Denton, Texas that makes and sells high pressure industrial spraying equipment used in all sorts of commercial liquid spraying applications. It prides itself on top quality and promotes its products as “100% made in the USA”.Sales have been declining recently due to competition from lower priced … Read more
Between 1966 and 1975, the Orkin Exterminating Company, the world’s largest termite and pest control firm, offered its customers a “lifetime” guarantee that could be renewed each year by paying a definite amount specified in its contracts with the customers. The contracts gave no indication that the fees could be raised for any reasons other … Read more