Distinguish between primary data and secondary data? Primary data is the data that is collected first hand from the original source for the purpose of making statistical inference while secondary data is the data that is collected by the method of abstraction and is used to make statistical inference by using primary data already collected by an investigator. Primary data is collected by Identifying population of interest choosing sample analyse sample information draw inference from
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firms increase their scale of production. Hence‚ they incur lower average costs of production‚ either through specialization or other factors. When average costs fall‚ giving the price of the good to be constant‚ profit margins of these firms will be increased. Thus‚ the individual firm benefits from internal economies of scale. External economies of scale arise when all firms in an industry experience decreasing average costs of production‚ which can be due to economies of concentration‚ information
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Using the appropriate diagrams‚ explain why the relative burden (incidence) of an indirect tax on the producers & on the consumer varies depending on the price elasticity of demand for the good/product. Indirect Tax is a tax placed upon the selling price of a product‚ so it raises the firm’s cost and shifts the supply curve left or vertically upwards depending on the amount of tax. Because of this shift‚ less products will be supplied at every price. The diagram below shows the effect of imposing
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Indirect Tax Indirect taxes include value added tax‚ a range of excise duties on oil‚ tobacco and alcohol and fuel duty. VAT is levied on the sale of goods by registered businesses. Businesses add VAT to the price they charge when they provide goods and services to business customers - and non-business customers. There are different VAT rates‚ depending on the goods or services that are being provided. At the moment there are three rates: standard rate – 20%‚ reduced rate - 5 %‚ zero rate -
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Indirect tax Section 1 This section is about applying your knowledge of VAT and using reference material to make recommendations or decisions. Task 1.1 (a) You have the following information about the taxable supplies of 4 businesses. For each of them‚ indicate whether they need to register for VAT immediately‚ or monitor turnover and register later. Tick ONE box on EACH line. Register now Monitor and register later A A new business with an expected turnover of £6000 per
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Distinguish between assertive and submissive communication styles in business As the old saying in china‚ same rice breeds different race of people. It is quite understandable that people’s characters are different. Different characters bring different communication styles‚ different thinking model‚ and different attitude of life or work. For communication styles‚ it includes some different type like the assertive style‚ the submissive style‚ the aggressive style‚ the passive-aggressive style
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In Leucippe and Clitophon‚ we find a novel‚ at face value at least‚ with a similar plot to the other ancient novels: the protagonists are two young lovers who go through numerous misadventures‚ while staying true to each other‚ and are rewarded with marriage. However‚ it could be argued that the novel parodies its predecessors and the idealised picture of love portrayed in them‚ and that Achilles Tatius makes a mockery of the ideas typical of the ancient novels – or‚ as Morgan puts it‚ ‘conducts
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Federalism is a governmental organization in which authority is divided between two sovereign levels of government. ·National ·Regional Federalism is a method of government where decision on taxes and education are shared between two political powers and are exercised on two levels of government. There are several distinguishing deference’s between federalist‚ unitary‚ and confederation government structures. Federal states may be created in one of two ways · Separate political units may decide
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Distinguish between assertive and submissive communication styles in business. Communication is the imparting conveying or exchange of ideas‚ knowledge‚ information ‚and the like by means of mechanical or electronic speech‚ writing‚or signs. how to efficient use communication styles in business ? I think we must distinguish between assertive and submissive communication styles in business and understand their advantages and limitations of each. Assertive communication is a form of communication
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variable) cost. Among such companies are Hewlett-Packard‚ General Electric‚ DuPont‚ Sun Microsystems‚ and British Airways. Discuss whether direct labor is a fixed or a variable cost. What are the pros and cons of management treating direct labor as a variable cost? Are there ethical issues to be considered here? Direct labor can be classified as a fixed cost or a variable cost‚ depending on how flexible the employer needs to be/can be with the labor force throughout the year. Direct labor will
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