Examlex
When using the Bardahl formula, an increase in annual credit sales (while holding the average accounts receivable balance constant) has which of the following effects on the working capital requirements?
Leisure
The time available for purposes other than earning money to buy marketed goods.
Nonmarket Use
Utilization or value derived from a good or service outside of commercial or financial transactions, typically involving public or shared resources.
Labor Supply
The total hours that workers are willing and able to work at a given wage rate, across different jobs and industries.
Substitution Effect
The change in quantity demanded of a good due to a change in its price, leading consumers to switch to or from substitute products.
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