From given data of sales, variable costs and income we get,
Contribution margin ratio = 44%Fixed cost = $1,936What is contribution margin ratio?The difference between a company's sales and variable costs, represented as a percentage, is the contribution margin ratio.
The total income that can be used to cover fixed costs and turn a profit is represented by an entity's total margin. The ratio, when applied to a single unit sale, expresses the percentage of profit made on that particular sale.
The basis for break-even analysis, which is employed in the overall cost and sales price planning for items, is the contribution margin. A product's selling price range, the expected level of profit from sales, and the structure of sales commissions paid to sales team members, distributors, or commission agents can all be determined using the contribution margin. It also assists in separating out the fixed cost and profit components resulting from product sales.
Given: Sales = $ 5,400, Variable costs $ 3,024, income $ 440
Contribution margin ratio = (Contribution margin/sales) × 100
= $2,376/$5,400 × 100
= 44%
Fixed cost = Contribution - Net income
= $2,376 - $440
= $1,936
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fill in the blank: is how a project manager keeps track of the team's workload, ensures that things are getting done within a set period of time, and demonstrates progress to people outside the immediate team, like stakeholders.O Managing tasksO Planning and organizingO Removing unforeseen barriersO Budgeting and controlling costs
Planning and organizing is how a project manager keeps track of the team's workload, ensures that things are getting done within a set period of time, and demonstrates progress to people outside the immediate team, like stakeholders.
Who are stakeholders?A stakeholder is any person, group, or organisation whose interests are affected by the success or failure of a project or business venture. Stakeholders can be inside or outside the company funding the project, and they all have a vested stake in the project's success. Stakeholder priority can typically be broken down into three categories. Employees, clients, and investors are the first and most crucial group, without whom the company cannot function. The main responsibility of a stakeholder is to lend their expertise and viewpoint to a project in order to assist the organisation in achieving its strategic goals. Additionally, they can offer the resources and supplies needed. Their assistance is essential for a project to succeed.
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selected hypothetical financial data of target and wal-mart for 2022 are presented here(in millions). net sale 65,000
The current ratio for Walmart is 0.9: 1.
Ratio analysis :
So no Formula Target Walmart
1 Current ratio current assets/current liabilities
19,000/12,000
= 1.6 : 1
49,000/55,000
= 0.9: 1
2 Accounts receivable turnover /average accounts receivable
65,000/8,000
= 8.1 times
406,000/3,800
= 106.8 times
3 Accounts collection period 365/accounts receivable turnover
365/8.1
= 45.1 days
365/106.8
= 3.4 days
4 Inventory turnover cost of goods= sold/average inventory
46,000/6,800
= 6.8 times
306,000/33,200
= 9.2 times
5 Day's in inventory 365/ inventory turnover
365/6.8
= 53.8 days
365/9.2
= 39.8 days
6 Profit margin net income/net sales
2,170/65,000
= 3.3 %
14,910/406,000
= 3.8 %
7 Assets turnover turnover/ average assets
65,000/(45,100+45,000)/2
= 1.4 times
406,000/(172,000+162,000)/2
= 2.4 times
8 Return on assets net income/ average assets
2,170/45,050
= 4.8 %
14,910/167,000
= 8.9 %
9 Return on common shareholders equity net income/average common shareholders equity
2,170/(15,700+12,900)/2
= 15.2 %
14,910/(74,000+66,000)/2
= 21.3 %
10 Debt to assets total liabilities/total assets
(12,000+17,400)/45,100
= 65.2 %
(55,000+43,000)/172,000
= 57 %
11 Times interest earned operating income/interest
(65,000-46,000-14,800-70)/660
= 6.3 times
(406,000-306,000-76,000-390)/2,200
= 10.7 times
12 Free cash flows net cash generated by operations - capital expenditure
5,900-1,700
= $ 4,200
27,400-11,600
= $ 15,800
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Suppose that an increase in government spending causes aggregate demand to increase from AD1 to AD2 in the graph below. Which of the following is the best explanation as to why aggregate demand would continue to expand to AD3 assuming that the government does not continue to increase spending?
The multiplier effect is the best explanation as to why aggregate demand would continue to expand to AD3 assuming that the government does not continue to increase spending.
Aggregate demand is a dimension of the entire amount of demand for all finished items and services produced in an economy. combination demand is expressed as the overall amount of money exchanged for the ones items and services at a particular price degree and point in time.
Combination call for, however, reveals the full sum of the marketplace for each single product and provider that an economy produces and expresses it as a total dollar value. as an example, a rustic could have an combination demand for items and services same to $1B in keeping with yr.
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_____ states that people learn to perform behaviors which lead to desired consequences and learn not to perform behaviors which lead to undesired consequences.
Skinner's operant conditioning theory states that people learn to perform behaviors which lead to desired consequences and learn not to perform behaviors which lead to undesired consequences.
What is skinner's operant conditioning?This concept states that conduct is more likely to be replicated when it results in positive outcomes, whereas behavior that results in negative outcomes is less inclined to be repeated. Reinforcement is a novel concept that Skinner added to the Law of Effect.
What are the 4 types of operant conditioning according to Skinner?Positivity, negativity, corrective feedback, and negative punishment are the four facets of operant conditioning.
Why Skinner's theory of operant conditioning is important?Psychologists highly assisted from Skinner's operant conditioning theory in their quest to comprehend how behavior is learned. It shows how reinforcement schedules may impact conditioning results and why incentives can be employed in the educational process so efficiently.
What are the 3 principles of operant conditioning?In operant conditioning, there are five fundamental processes: retribution, perceived cost, and extinction decrease behavior; positive and negative reward reinforce behavior.
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Keynesians argue that monetary policy is NOT effective if:a. other countries do not pursue a monetary policy similar to that of the United States.b. no one buys bonds when the Fed conducts open-market operations.c. the Fed is independent of political pressures.d. the economy is in a liquidity trap.
Keynesians argue that monetary policy is NOT effective if there was a liquidity trap.
What is liquidity trap?
A liquidity trap develops when investors select lower-yielding assets over hoarding cash due to a bleak outlook for the economy. Bonds aren't the only thing affected by a liquidity trap; other sectors of the economy also suffer as a result of consumers' reduced spending, which might make employers less eager to hire.
Does inflation result from a liquidity trap?
The liquidity trap is examined in a recent piece in the regional Economist. A growth in the money supply (such as that brought on by the Federal Reserve's massive asset purchases) typically results in higher inflation since more money is chasing the same amount of goods.
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Cost-volume-profit analysis can be used to predict the effects of reduced selling prices, increased fixed costs, and reduced variable costs on break-even points.
True
False
It is true that cost-volume-profit analysis can be used to predict the effects of reduced selling prices, increased fixed costs, and reduced variable costs on break-even points
CVP analysisThe CVP analysis serves all the elements stated in the statement to be able to calculate the break-even point and, as an effect, it will also be able to announce the break-even point when any or all of them change in any direction.
Costs refer to the fixed and variable costs incurred by the business. Volume refers to the number of products sold. Profit refers to the amount of money the company makes given the price of the product sold, the volume of products sold, and the fixed and variable costs of the company.For more about CVP Analysis here https://brainly.com/question/27585018
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A social media post promising financial prosperity to everyone who shares their post seems unusual to you becauseit conflicts with what you already know about financial success
A social media post promising financial prosperity to everyone who shares their post seems unusual to you because ,it conflicts with what you already know about financial success.
What is meant by finance?Raising capital or finances for any form of spending is referred to as finance.
It is the act of directing different funds whether they be in the form of invested capital, loans, or credit to the economic entities that can use them most effectively or who are in the greatest need of them.
The term "finance" also first appeared in English in the 15th century, but it comes from the Anglo-French verb finer, which also means "to end" and "to pay."
English also uses the same verb to refer to an end or payment.
The term "financial resources" and "fund management" were introduced in the 18th century.
Investment, borrowing, lending, budgeting, saving, and forecasting are all part of the discipline of finance, which is referred to as the management of money.
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on the preceding graph, use the blue rectangle (circle symbols) to fill in the area that represents profit or loss of the firm given the market price of $15 and the quantity of production from your previous answer.
The blue rectangle represents a profit of $1,250 (15 x 83 = 1,245).
What is profit?Profit is the difference between the total revenue and total costs of a business. It is the amount of money a company has earned after subtracting all its expenses, including taxes and costs of goods sold. Profit is considered the "bottom line" of a business and is typically what owners are looking to increase. In order to increase profit, a business must either increase revenue or reduce costs. Profits are important because they allow businesses to reinvest in their operations, pay dividends to shareholders, and increase their market value.
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Who would you identify as the most likely entrepreneur? (vs. self-employed, managers, freelancers, or so on)
a. a massage therapist who performs massages in people's homes
b. a construction contractor who owns his own business and focuses on renovating landmarked homes
c. a writer who sells her articles to various magazines
d. a doctor who develops a high-protein drink to sell and for each sale donates another bottle to people in developing nations
e. a driver who uses his own car to drive the elderly to and from their appointments or social engagements
The most likely entrepreneur is a doctor who develops a high-protein drink to sell and for each sale donates another bottle to people in developing nations. The correct option is (D).
The entrepreneur is someone who has an idea and who works to create a product or service that people will buy, as well as an organization to support that effort.
The entrepreneur someone who has the ability and desire to establish, administer and succeed in a startup venture along with risk entitled to it, to make profits. Just like that above doctor who create product, sell and help the nation to grow.
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which one of the following is an advantage of the accounting (book) rate of return (arr) method for analyzing capital investment proposals?
Usually, the information needed to calculate the return is accessible is an advantage of accounting rate of return method for analyzing the capital investment proposals.
What is accounting rate of return?A financial ratio used in capital budgeting is the Accounting Rate of Return (ARR), sometimes known as the Average Rate of Return (ARR). The ARR is computed using the planned capital investment's net income. ARR is a percentage that represents a return. An investment's relative attractiveness is gauged by its annual return on investment (ARR). ARR is used by more than half of large companies when assessing projects. The key advantage of ARR is how easy it is to compute and comprehend. The main problem with ARR is that it doesn't take into account the time value of money or how long-term investment risks change over time. ARR can readily be changed by changing the depreciation methods because it is based on a profit analysis.
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the form of ownership, the level of service, and the are important ways that retail outlets can be classified.
The type of ownership, level of service, and merchandise line of a retail establishment can be used to classify it. Independent retailers, corporate chains, and contractual systems like cooperatives sponsored by retailers, voluntary chains sponsored by wholesalers, and franchises are all examples of forms of ownership.
What is possession in retail the board?Ownership-Based Retailers Independent retailers own and operate a single store and set their own policies. Their family members can assist with business operations, and the unit's ownership can be transferred from one generation to the next.
What is the most widely recognized type of retail location possession?The most prevalent business structure is the sole proprietorship. This kind of business is easy to set up and run, and it may have more management freedom and fewer legal restrictions. However, the owner of the business bears all personal responsibility for the company's debts.
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the interviewer asked me an inappropriate question but, i deflected it with a polite response. the interviewer asked me an inappropriate question but i deflected it with a polite response. the interviewer asked me an inappropriate question, but i deflected it with a polite response.
The correct punctuated sentence is: "The interviewer asked me an inappropriate question, but I deflected it with a polite response."
The comma after "question" and the word "but" indicates that there are two separate clauses in this sentence. The first clause is "The interviewer asked me an inappropriate question" and the second clause is "I deflected it with a polite response."
The use of the comma and the word "but" helps to show the contrast between the two clauses, thus making the sentence easier to read and understand. Therefore the correct answer is option number one.
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Correct question.
Choose the correctly punctuated sentence.
-The interviewer asked me an inappropriate question but, I deflected it with a polite response.
-The interviewer asked me an inappropriate question, but I deflected it with a polite response.
-The interviewer asked me an inappropriate question but I deflected it with a polite response.
The ____ represents the amount of data that an organization is willing to lose, or reenter, in the event of a disaster; the ____ represents the number of hours or days that the organization is willing to operate without its data center.A. RTO, RPO
B. DRP, BCP
C. BCP, DRP
D. RPO, RTO
D. RPO, RTO
The RTO is the number of hours or days that the organization is willing to operate without its data center, whereas the RPO is the quantity of data that the firm is willing to lose or reenter in the event of a disaster.
What is RPO (Recovery point objective)?⇒ The maximum amount of data that can be lost after recovering from a disaster, failure, or equivalent event before data loss exceeds what is acceptable to an organization is known as the recovery point objective (RPO). This amount of data loss is quantified in terms of time. In the event of a network or computer system failure, an RPO establishes the maximum age of the data or files in backup storage required to be able to achieve the goal stated by the RPO. The business continuity plan of an organization defines its loss tolerance, or the amount of data that can be lost before it suffers serious consequences (BCP).
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Which of the following type of planning consists of a process for recovery and documentation of procedures for conducting recovery?
a. security
b. contingency
c. risk management
d. performance
Contingency is the type of planning consists of a process for recovery and documentation of procedures for conducting recovery.
A contingency plan is a plan of action designed to be taken in the event of an unexpected occurrence. A contingency plan for recovery is a plan of action designed to be taken in the event of an unexpected interruption to your business operations.
The purpose of a contingency planning for recovery is to help you minimize the disruption to your business and to help you resume operations as quickly as possible. A well-designed contingency plan will help you to protect the company.
Hence, the correct option is "B".
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Translating subsidiary earnings from a strong host currency into a weak home currency increases stated earnings in the home currency.a. Trueb. False
Increasing declared earnings in the home currency by translating subsidiary earnings from a strong host currency. The given statement is true.
Devaluation is the intentional reduction in the value of a nation's currency. The currency's value may be reduced at the government's discretion. Depreciating a currency lowers the cost of exports and can aid in reducing trade imbalances.
July 1944. A new international monetary system was forged by delegates from forty-four nations in Bretton Woods, New Hampshire, in July 1944. Delegates to the conference agreed to establish the International Monetary Fund and what became the World Bank Group.
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human resource specialist julie woodard must inform employees of a major reduction in health care benefits. when delivering this announcement, she should apply all the following techniques except
Human resource specialist Julie Woodard must inform employees of a major reduction in health care benefits. when delivering this announcement, she should apply all the following techniques except lets the employees find out through the office grapevine.
Human resource specialist can be described as an employee of an organization that inform the employeed about any benefits that are offered by the particular organization that they are working in.
Such informations should always be passed on by the human resource specialist rather than people such as the grapevine.
Human resources specialists are trained in all aspects of human resources, so these people know how to pass on a health care benefit information.
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Exchange rates are an effective way to analyze the price of one currency in terms of another currency with ______.A. distinctive trade-offs and risksB. exchange rate policyC. monetary policyD. the tools of demand and supply
Exchange rates are an effective way to analyze the price of one currency in terms of another currency with the tools of demand and supply.
exchange rateExchange rates describe the relative worth of one's own currency to another country. Either a fixed or free-floating exchange rate is possible. A free-floating exchange rate fluctuates according to changes in the foreign exchange market, whereas a fixed exchange rate is tied to the value of another currency. Therefore, using the techniques of supply and demand to examine the price of one currency relative to another, exchange rates are a useful tool.
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A piece of rental property will generate $10,000 a year for five years, $12,000 for the next five years, and then be sold at the end of the tenth year for $100,000. If you can earn 10 percent on your funds, what is the maximum you should pay for the property?
$104,702.60 is the maximum pay for the Rental property.
How to calculate Rental property?A property that is rented out is one that is occupied by anyone other than the owner and for which the tenant pays the owner a set rent on a regular basis.
Return on investment (ROI) quantifies the amount of money, or profit, made relative to the investment's cost. Calculate the net profit or net profit on the investment & divide it by the initial cost to determine the percentage ROI for a cash buy. You must consider your down payment & mortgage payment if you have a mortgage. Your daily spending, as well as repair and maintenance charges, might have an impact on your return on investment.
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On December 31, a company determines that $500 in salaries expense has not yet been recorded because the employees will not be paid until January 3. The adjustment will include a credit to the _______ account in the amount of $500Sales payable
'On December 31, a company determines that $500 in salaries expense has not yet been recorded because the employees will not be paid until January 3. The adjustment will include a credit to the Current account in the amount of $500 Sales payable.
In economics, a country's current account balance records the value of imports and exports of goods and services, and the international transfer of capital. It is one of the two components of the balance of payments, the other being the capital account.
Checking accounts are opened by business people who have many regular transactions with the bank. This includes deposits, withdrawals and counter transactions. Also known as an overnight savings account. Current accounts can be opened in cooperative bank and commercial bank.
It is called the current account because goods and services are generally consumed in the current period.
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_________ has/have special rights that give it priority over other types of stock in one or more areas.Preferred stock
Preferred stock has special rights that give it priority over other types of stock in one or more areas.
What is meant by preferred stock?Preferred stock is a type of stock that has a fixed dividend schedule but no voting rights. Preferred stock combines aspects of common stock and bonds into a single security, including regular income and company ownership.
Preferred stock is a stock that combines aspects of both stocks and bonds. Preferred shares, like bonds, pay out cash dividends, often at a higher yield than bonds, while also providing higher dividend returns and less risk than ordinary shares.
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suppose that the economy enters a boom and becomes overheated. if the fed pursues countercyclical monetary policy but overreacts, this causes output in the short-run to go
Counter-cyclical fiscal coverage refers to the steps taken through the government that go towards the course of the monetary or commercial enterprise cycle.
Thus, in a recession or slowdown, the authorities increases expenditure and reduces taxes to create a demand that can force an economic boom.
Which of the following is an example of a counter-cyclical policy?One example of an automatically countercyclical fiscal coverage is modern taxation. By taxing a large share of income when the economy expands, a revolutionary tax tends to reduce demand when the economy is booming, accordingly reining in the boom.
Counter-cyclical or defensive industries are those that do well in economic downturns, since demand for their products and services continue regardless of the economy.
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https://brainly.com/question/7767883#SPJ4According to David Vogel, investing in corporate social responsibility (CSR) when consumers are not willing to pay higher prices to support that investment improves the profit levels of the firm.
False
According to David Vogel, investing in corporate social responsibility (CSR) when consumers are not willing to pay higher prices to support that investment improves the profit levels of the firm. FALSE
Company social duty is a form of international non-public enterprise self-regulation which aims to make a contribution to societal goals of a philanthropic, activist, or charitable nature via carrying out or assisting volunteering or ethically orientated practices.
Company Social responsibility (CSR) is the concept that a company ought to play a superb function in the network and do not forget the environmental and social impact of enterprise decisions.
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When Apple released its first iPhone in 2007, it charged customers $599. Shortly thereafter, it reduced the price to $399 for the exact same device. Apple's decision to set a relatively high price for a period of time after the product launched and then decrease the price to a level that would be more sustainable over time reflects which pricing strategy?
When Apple released its first iPhone in 2007, it charged customers $599. Shortly thereafter, it reduced the price to $399 for the exact same device. Apple's decision to set a relatively high price for a period of time after the product launched and then decrease the price to a level that would be more sustainable over time reflects pricing strategy of price skimming.
Price skimming is typically used when a new kind of product enters the market. The goal is to maximize your profits when there is a strong demand from customers and little competition in the market.
What is price skimming?Skimming is a pricing strategy in which initial product prices are set high and subsequently decreased as rivals enter the market. The opposite of penetration pricing, which sets low starting prices for recently launched products in an effort to draw a sizable consumer base, is skim pricing.
Electronic products, like the Apple iPhone, commonly use a price-skimming strategy during the first launch phase. The price of the product decreases after competitors release competing items, such as the Samsung Galaxy, to preserve its competitive advantage.
Price skimming produces higher initial revenue totals to cover R&D costs. You might get better returns on your investment if you hold onto interest for a longer time. Using different marketing strategies, you can segment your customer base at each price range.
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A firm that chooses to target potential customers by zip code, specific occupation, or even lifestyle is said to be practicing which targeting strategy.
answer choices
a. mass marketing
b. hypermarketing
c. micromarketing.
d. undifferentiated marketing
c. Lifestyle is said to be practicing a micromarketing targeting strategy.
Micromarketing is a marketing strategy focused on targeting potential customers on a very small and specific level. This type of targeting strategy involves utilizing customer data such as zip code, occupation, lifestyle, and more to create a more personalized marketing message.
This allows companies to better identify and segment their customer base, allowing for more targeted and effective marketing campaigns. Micromarketing also allows companies to better understand their customer’s preferences, which can be used to create messages that better resonate with them.
Overall, micromarketing is a powerful tool that allows companies to better identify and target their customers, ultimately leading to higher customer satisfaction and increased profits.
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Increasing the size of a group from 2 to _____is likely to produce the greatest increase in conformity.
5
Increasing the size of a group from 2 to 5 is likely to produce the greatest increase in conformity.
What do you mean by conformity?Conformity is the process through which individuals alter their attitudes, behaviors, beliefs, or perceptions to more closely align with those of the organizations they identify with, aspire to join, or for whose approval they are looking. Conformity has significant social repercussions and is still a topic of active research.Views of conformity have been greatly influenced by two research areas. The social psychologist Muzafer Sherif, who was born in Turkey, showed in a series of investigations conducted in 1935 the ability of social influence to alter how stimuli that are very ambiguous are seen by individuals. The autokinetic effect, a perceptual delusion that happens when people are instructed to focus on a steady point of light in a dark room, was used by Sherif. In certain conditions, individuals notice motion in the light.
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__________ represent a favorable source of meeting long-term financing needs because there are no interest payments, dividends, or underwriting fees required when using this source.A Secured BondsB Retained EarningsC DebenturesD Stock Options
Because there are no interest payments, dividends, or underwriting fees necessary when using this source, retained earnings constitute an advantageous source for addressing long-term finance needs.
After deducting dividend payments, a company's retained earnings are its total net earnings or profits. The term "retained" refers to a crucial idea in accounting that describes how earnings were held by the corporation rather than distributed to shareholders as dividends.
At the conclusion of each accounting period, retained earnings are shown in the shareholder's equity portion of the balance sheet. RE is calculated by first adding the initial RE balance to net income (or subtracting it from net loss) and then deducting dividend payments. The changes in RE for a certain time period are often summarized in a document called a statement of retained earnings, which is also kept on file.
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If a promoter enters into a contract on behalf of a proposed corporation and there is a breach of contract involving the infant corporation, who is liable?
If a promoter enters into a contract on behalf of a proposed corporation and there is a breach of contract involving the infant corporation, the promoter is liable on the contract.
A corporation contract is a contract between a corporation and another party, typically another corporation. The contract outlines the terms of the relationship between the parties, and may include provisions for things like the purchase or sale of goods or services, the exchange of stock or other assets, or the provision of financing.
Such contracts are typically very complex, and can have a significant impact on the financial well-being of both parties.
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The monopolistically competitive firm sells a __________ product and faces a __________ demand curve.
A firm that competes in a monopolistic market will have a downward-sloping perceived demand curve, indicating that it sets prices and selects a mix of quantity and price.
What is monopolistic competitive ?Numerous businesses engaged in monopolistic competition but selling distinctively different goods compete against one another. A few examples include clothing stores that sell several clothing trends, eateries or grocery stores that sell various food varieties, and even goods like beer or golf balls that may be at least superficially comparable but have varied public perceptions due to branding and advertising. The United States has more than 600,000 eateries. Each company has a mini-monopoly on its specific style, flavor, or brand name when items are distinctive.Manufacturers of these goods must, however, contend with other brands, flavors, and fashions. This combination of a small monopoly and fierce rivalry is referred to as "monopolistic competition," and its origin is explained in the next Clear It Up piece.To Learn more About monopolistic refer To:
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if regulators of the local gas and water utility companies require those firms to price their service at marginal cost group of answer choices there would be a deadweight loss in their markets. their customers would enjoy no consumer surplus. the firms might require a tax-financed subsidy to survive. none of the above answers are correct.
If regulators of the local gas and water utility companies require those firms to price their service at marginal cost the firms might require a tax-financed subsidy to survive.
Hence, the correct option is B.
In economics, the marginal cost is the change in the total cost that arises when the quantity produced is incremented, the cost of producing additional quantity.Marginal cost is essentially the cost of producing one more unit, whether a product or service. When looking at the income statement, there are two separate types of expenses. On the one hand, you have fixed costs. These are usually large expenses that do not change based on the number of units you produce.To know more about Cost here
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Economic inequality is perhaps most troubling when it is not the result of effort or talent, but instead is determined by the circumstances under which a child grows up. Public policy attempts to build a ladder of opportunities so that all children have a chance for success, even through their circumstances vary. Select the answer below that would not be found on the ladder of opportunity. Select all that apply: O Improved daycare. O Enrichment programs for preschoolers. O After school and community activities. O Mandatory job requirements for students.
With Public policy attempting to build a ladder of opportunities Mandatory job requirements for students would not be found on the ladder of opportunity
Public policy, which is governed by a notion and frequently put into practise by programmes, is an institutionalised plan or a decided set of features like laws, rules, guidelines, and actions. Public policy has been defined in a variety of ways and can be thought of as the whole of all direct and indirect government activities.
Public policy is essentially a collection of laws, directives, and steps that governments decide upon and implement in an effort to benefit the general populace. Which laws are passed, where funding flows, and which issues are of general public interest can all be determined by public policy.
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