The economic order quantity is found to be 850.
Given, here the annual sales or Annual demand (D) = 144,500 units ,Holding cost per year (H )= $4 and ordering cost per year is(S )= $10.
Now we calculate Economic order quantity (Q) by the formula,
Q= [tex]\sqrt{2DS/h}[/tex]
Q=[tex]\sqrt{2*14450*10/4}[/tex]
Q= 850.
Thus, economic order quantity is calculated and found to be 850.
Companies determine their ideal order size by performing a calculation known as the economic order quantity (EOQ)
Economic order quantity enables them to meet demand without going overboard. An indicator of the appropriate order size to reduce costs for the company is the economic order quantity. For companies of all kinds and sorts that place orders for and maintain inventory, the economic order quantity formula is helpful.
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four prepared food products that decrease labor in the kitchen.
Some prepared food products that help decrease labor in the kitchen include:
Precut vegetables Premixed baking doughPortion-cut meats and fish Already made sauces and soups How can you decrease labor in the kitchen?One way to decrease the labor that one has to go through when they cook in the kitchen is by using prepared food products.
For instance, using precut vegetables reduces the time taken to chop vegetables and using portion-cut meats and fish mean that you can just cook the meats and fish without having to waste time cutting them.
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Noreen asserts that behavior often reflects unconscious motives and conflicts. this viewpoint is most consistent with the _____ approach in psychology.
Noreen asserts that behavior often reflects unconscious motives and conflicts. this viewpoint is most consistent with the psychoanalytic approach in psychology.
Psychoanalytic theory postulates a plethora of distinct change mechanisms, and as psychoanalytic ideas evolve and multiply, a plethora of new methods of conceiving the change process emerge.
At the most fundamental level, there is a knowledge that change generally entails making the unconscious conscious, as represented by Freud's oft-repeated axiom: "Where id has been, ego shall be."
The psyche is divided into three functions according to psychoanalytic theory: the id—the unconscious source of primitive sexual, dependency, and aggressive impulses; the superego—subconsciously interjects societal mores, setting standards to live by; and the ego—represents a sense of self and mediates between momentary realities and psychic needs and conflicts.
Hence, the answer is psychoanalytic approach.
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A+factory+costs+$400,000.+you+forecast+that+it+will+produce+cash+inflows+of+$120,000+in+year+1,+$180,000+in+year+2,+and+$300,000+in+year+3.+the+discount+rate+is+12%.+what+is+the+value+of+the+factory?
Net Present Value = $64,184.
What does initial production mean?How many barrels of crude oil are produced each day by a new oil well is measured by its initial production rate, or IP rate. It is used to evaluate the amount of recoverable reserves and as a stand-in for an oil well's potential future productivity.The formula required to determine total manufacturing cost is typically expressed as follows: Direct materials plus direct labor plus manufacturing overhead equal the total cost of production.Materials, labor, and overhead are the three main areas of costs in the manufacturing industry.A factory costs $400,000. You forecast that it will produce cash inflows of $120,000 in year 1, $180,000 in year 2, and $300,000 in year 3. The discount rate is 12%. Is the factory a good investment? Explain.
Initial Factory Cost = $400,000
Cash Inflows for the 1st year = $120,000
Cash Inflows for the 2nd year = $180,000
Cash Inflows for the 3rd year = $300,000
Calculating Net Present Value of the Investment:
Year Cash flows PV Factory at 12%Net Present Value
0 ($400,000) 1 ($400,000.00)
1 $120,000 0.8929 $107,148.00
2 $180,000 0.7972 $143,496.00
3 $300,000 0.7118 $213,540.00
Net Present Value $64,184.00
Net Present Value = $64,184
Note: Yes, this factory investment is good, and we should accept this project. Because here, this project has got positive Net Present Value. Hence, it is a good investment.
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A lottery claims its grand prize is $ million, payable over years at $ per year. if the first payment is made immediately, what is the grand prize really worth? use an interest rate of
The lottery's grand prize, if the first payment is made immediately, then the grand prize is really worth $4,312,127.
PV = PMT + PMT/(1 + interest rate)^year + PMT/(1 + interest rate)^year
PV= 1,000,000 + 1,000,000/(1+.08)^1 + 1,000,000/(1+.08)^2 + 1,000,000/(1+.08)^3 + 1,000,000/(1+.08)^4 + 1,000,000/(1+.08)^5
= $4,312,127
A random draw that yields a winner or a small group of winners is referred to as a lottery. You will invest a small amount of money to have a small chance of winning a large sum of money when you play the lottery. The recipients are chosen at random. If you choose all the winning numbers, you will either take home the jackpot or split it with other players who also picked all the winning numbers. A lottery entails spending a small sum of money—say, to buy a lottery ticket—in exchange for the opportunity to win a prize, like a sizable sum of money. In lotteries, no skill is required. All you need to win a lottery is good luck because the results are determined solely by chance.
Note that the full question is:
A lottery claims its grand prize is $5 million, payable over 5 years at $1,000,000 per year. If the first payment is made immediately, what is the grand prize really worth? Use an interest rate of 88%.
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5 methods that maybe used to engage in trade w within the business environment.
The five main factors that influence international trade are: the existence of government regulations, variances in technology, variations in resource endowments, variations in demand, and the availability of economies of scale.
What techniques are employed to regulate global trade?Governments primarily use tariffs, subsidies, and quota systems to impose trade restrictions. A quota system places limits on the quantity of commodities that may be imported into a nation. Governments can limit the amount of imports to assist safeguard native businesses by using quota systems.
What drives people to trade?Trade is essential to the prosperity of the United States because it boosts economic expansion, promotes domestic employment, raises living standards, and enables citizens to sustain their families with reasonably priced goods and services.
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Suppose that currently 80 million hamburgers are being produced and sold at a price of $2.50. this outcome in the market for hamburgers is economically because:_________
This outcome in the market for hamburgers is economically because some hamburgers aren't made or sold because consumers value them higher than their opportunity cost of manufacture.
What is a market outcome?If all costs and benefits are covered by supply and demand curves, the market outcome is a quantity where marginal social costs and marginal social benefits are equal.
The majority of economists concur that more market-oriented economies produce better economic results, but they disagree on the precise ratio of markets to central planning that promotes stability, equity, and long-term gains.
An economic system known as a market economy is one in which business and individual people of a nation collectively engage to determine economic policy and the cost of goods and services. Government intervention and central planning are minimal.
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At the supported price-quantity combination where production is unlimited, and government buys the excess, the money consumers pay producers is:__________
At the supported price-quantity combination where production is unlimited, and government buys the excess, the money consumers pay producers is OP'CQ.
What is price-quantity?
The quantity that consumers desire is determined by the price of an item or service in a market. When non-price elements are taken out of the equation, it follows that higher prices lead to lower quantities demanded and lower prices lead to higher quantities demanded.
Therefore,
At the supported price-quantity combination where production is unlimited, and government buys the excess, the money consumers pay producers is OP'CQ.
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A $83 petty cash fund has cash of $18 and receipts of $74. the journal entry to replenish the account would include a:__________
An $83 petty cash fund has cash of $18 and receipts of $74. the journal entry to replenish the account would include a: debit to Cash Over and an excess of $9
What is journal ?A business's transactions are meticulously recorded in a journal.Using the data logged in a journal, accounts are reconciled and information is transferred to other accounting records.A single-entry technique of accounting is also an option when recording a transaction in a company's journal. Double-entry bookkeeping is the more common approach.After a transaction, the double-entry approach records a rise in one account and a drop in the matching account.Rarely utilised, single-entry accounting merely records changes to one account.In the financial industry, a trading diary that records an investor's trades and their rationale is sometimes referred to as a journal.To know more about journal entry, refer to the following link
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What three reasons explain the changes broughtabout by the development of agriculture?
The three reasons that explain the changes brought about by the development of agriculture are mentioned below.
In contrast to farmers, who mainly eat a few relatively starchy crops, hunters and gatherers had a very diverse diet. Agriculture resulted in towns that were congested and traded with other crowded cities, which caused the disease to spread. Farmers relied significantly on a limited amount of crops, so if one filled, they would probably start.Agriculture development includes things like offering security, assisting with research, using cutting-edge methods, preventing pests, and promoting diversity.
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You have a present value of $217, future value of $307, and 3 years as the number of periods. what is the interest rate?
The interest rate IS12.26%.
What's the meaning of interest rate?An interest rate indicates how expensive borrowing is or how lucrative saving is. Therefore, if you are a borrower, the interest rate is the sum you pay for borrowing money and is expressed as a percentage of the overall loan amount.The average 30-year refinance rate for homeowners is 6.10%, up 5 basis points from the previous week. The average 30-year fixed mortgage APR across the country on Monday, September 12, 2022, is 6.090%.A rate change can be either positive or negative. It is more a reflection of the overall state of the American economy. Focus on achieving your long-term saving and debt payoff goals one at a time rather than freaking out when it changes. Find out more about interest rates' fundamentals.You have a present value of $217, future value of $307, and 3 years as the number of periods. what is the interest rate?
Particulars in formulae Values
Present Value FV 307.00
Future Value PV (217.00)
TIME (YEARS) NPER 3
RATE OF RATE 12.26%
INTEREST P.A.
Formulae used "=RATE(3,0,-217,307,0)"
"=RATE(NPER,PMT,PV,FV,TYPE)"
PV used in formulae is taken negative being cash outflow
PMT is taken zero, as no intermediate payment.
TYPE is irrelevant as no intermediate payment.
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A mutual fund had average daily assets of $4.0 billion in 2018. the fund sold $1.5 billion worth of stock and purchased $1.6 billion worth of stock during the year. the fund's turnover ratio is:_________
A mutual fund had average daily assets of $4.0 billion in 2018. the fund sold $1.5 billion worth of stock and purchased $1.6 billion worth of stock during the year. The fund's turnover ratio is 37.5%.
A particular kind of investment vehicle called a mutual fund pools the money of numerous participants to purchase a range of securities. In addition to a variety of investments in combination, mutual funds have the flexibility to invest in a broad range of securities, including stocks, bonds, commodities, and alternative assets like real estate.
A mutual fund is an open-end, expertly managed investment vehicle that pools money from various investors to purchase securities. Mutual funds hold the bulk of shares in US firms. Mutual fund investors might be either institutional or retail.
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How+long,+to+the+nearest+year,+will+it+take+me+to+become+a+millionaire+if+i+invest+$3,000+at+11%+interest+compounded+continuously?
formula: A = Pe^(rt)
A = final amount = 1,000,000
P = initial amount = 3,000
e = 2.718...
r = rate (as a decimal) = 0.11
So, 1000000 = 3000 · e ^ (0.11 x t)
e ^ (0.11 x t) = 333.33
ln [e ^ (0.11 x t)] = ln (333.33)
⇒0.11 x t = 5.809 ⇒ t = 5.809/0.11 = 52.8 years
What is Compound Interest?The compound interest formula is used to calculate compound interest, sometimes known as "interest on interest". A = P (1 + r/n)nt, where P is the principal balance, r is the interest rate, n is the number of times interest is compounded per time period, and t is the total number of time periods, is the formula for compound interest.
Compound interest refers to the idea that interest is added back to the principal amount so that interest can be earned on the interest that has already accumulated during the subsequent compounding period.
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If a company has a receivables turnover ratio of 10 and accounts receivable of $750,000, what is the company's level of sales on credit?
Answer: $7,500,000
Explanation:
The beginning balance in lucre's cash account was $1,200. during the month, lucre borrowed $5,000 cash from last national bank and paid a supplier $500. the balance in lucre's cash account is now a:______-
Lucre's cash account had a starting balance of $1,200. Lucre paid a supplier $500 and borrowed $5,000 from the last national bank during the month. There is currently a debit of $5,700 in lucre's cash account.
Beginning balance $1200
Add: Credits $500
Less: Debits $5000
By adding the credits, debits and beginning balance and subtract the borrow:
Ending balance of Notes Payable $5700
Any securities transactions must be paid in full from monies in the account at the time of settlement if the account is a cash one with a brokerage company. Thus, with this form of account, short selling and buying on margin are prohibited. Cash accounts and margin purchases of securities are governed by Regulation T of the Federal Reserve. Investors have two business days to provide security under this regulation.
A ledger in which all cash transactions are documented is referred to as a cash account or cash book in accounting. The cash account contains both the cash receipts and payments journals.
Any transaction on a cash account must be paid in full with sufficient funds on the settlement date. Cash accounts are a form of brokerage account.
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A company had received the following bid/ask quote on canadian dollars: usd/cad 1.0345-75. if they need cad 5 m for an upcoming payment, how many usd would they need for the fx transaction?
They need the fx transaction of USD 4,833,253
What is an FX transaction fee?When you use your credit card to make a purchase that either goes through a foreign bank or is made in a currency other than the U.S. dollar, a surcharge known as a foreign transaction (FX) fee will appear on your credit card statement (USD). Many credit card companies charge this fee, which typically ranges from 1% to 3% of the transaction.When a transaction is made internationally or with a foreign business, the credit card company will charge a foreign transaction fee.Travelers from the United States pay these fees, which are typically between 1% and 3% of the transaction's value.Such charges might also apply to online purchases made by foreign sellers.A number of banks or credit card issuers now provide fee-free cards or waivers for specific customers.Foreign transaction fees, which may be added on top of foreign transaction charges, are not always the same as currency conversion fees.To learn more about FX transactions, refer
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Is 17 years old and a dependent of her parents. she receives of wages from a part-time job and of taxable interest from bonds she inherited. (the tax year is:________
Heidi is 17 years old and claimed as dependent on her parents. She has $8700 of earned income (wages)and $9,200 of unearned income (interest). Therefore, she is liable for the kiddie tax.
Computation of Taxable Income
Wages $ 8,700.00
Interest Income $ 9,200.00
AGI(8700+9200) $ 17,900.00
Less standard deduction(W.N.1) $ 8,850.00
Taxable Income (17900-9050) $ 8,850.00
Tax Liability (W.N.2) $ 885.00
W.N.1 Standard deduction for dependent is $1,100 or $ 350+earned income subject to the regular standard deduction limit. In this case, earned income is $ 8,700.Therefore , the standard deduction will be either $ 1,100 or $ 8700+$350 i.e $ 9,050. Out of both amounts, $ 9,050 is greater,therefore$9,050 will be a standard deduction.
W.N.2 Computation of Tax Liability
Taxable income is less than $ 9,700.Therefore, the tax will be 10%of taxable income 10%8850*10%
$ 885.00
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The risk of a firm receiving a poor online review exposes a restaurant to what type of risk?
The risk of a firm receiving a poor online review exposes a restaurant is a type of business risk.
What are Business risks?Business risks are the likelihood that a company would experience insufficient earnings (or even losses) as a result of unpredictable abilities, such as shifts in consumer preferences, strikes, increasing competition, shifts in governmental policies, obsolescence, etc. While conducting business, every company organization encounters several risk factors. Business risk refers to the possibility of loss or uncertainty in profitability as well as potential future occurrences that could put a business at risk of failing due to unanticipated circumstances.To learn more about Business risks, refer to:
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Toybox, inc. , manufactures the spintop, a toy that the company discovers can cause harm. Before anyone is injured, anne, a pediatric nurse who has not purchased a spintop, files a suit against toybox, inc. In seeking to have the suit dismissed, toybox, inc. , best argument is that anne does not have.
best argument is that anne does not have standing to sue
An electron exchange that results in the formation of electron pairs between atoms is known as a covalent bond. When atoms share electrons, a permanent equilibrium of the attractive and repulsive forces between them is known as covalent bonding. These electron pairs are also known as shared pairs or bonding pairs. Each atom in numerous molecules can reach the equivalent of a complete valence shell thanks to the sharing of electrons, which results in a stable electronic state. Covalent bonds are substantially more frequent than ionic bonds in organic chemistry. A covalent bond is formed when two atoms exchange one or more pairs of electrons. The two atomic nuclei are concurrently drawing these electrons to them.
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In the context of examining the performance of promotional programs, marketing researchers must?
In the context of examining the performance of promotional programs, marketing researchers must develop meaningful metrics to measure the return on advertising dollars spent and then gather the data for those metrics
Marketing research doesn't quite make decisions or guarantee success." Marketing managers could very well seek guidance from marketing research specialists, and it is critical that research reports specify alternative courses of action and, where possible, the probability of success of these alternatives. However, marketing managers, not researchers, make the final marketing decision. The second situation, that marketing research does not bring success, is simply an acknowledgement of the context in which marketing occurs.
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While conducting the fair test, which question helps analyze the impact of a business message?
Have you thought about how the message will affect stakeholders?
This question helps analyze the impact of a business message
What is meant by Business messages?Business messaging describes a range of platforms via which customers and enterprises can communicate. Text messaging, sometimes known as SMS, is the most used form of communication. We have worked with appointment reminders, marketing offers, promotional incentives, and shipment reminders. These are the messages that we typically associate with formal business communication. Any digital channel where your target audience already spends some time can be used for business messages, but two-way communication is expected. Customers benefit from the comfort and simplicity of business messaging. The same as with friends and family, customers anticipate comfort from pre- and post-sale interactions with businesses. Additionally, 66% of customers prefer messaging when contacting a business.To learn more about Business messages, refer to:
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Opportunity cost is associated with choosing a particular decision that is measured by the foregone benefits of the next-best alternative. what example would you pose to explain this?
Opportunity cost is associated with choosing a particular decision that is measured by the forgone benefits of the next best alternative.
The concept applies to individuals, businesses, and societies. An individual has limited income but a long list of purchases. If he decides to purchase one good, he forgoes purchasing the next best good he could buy . Not being able to buy the next best good is the opportunity cost of buying the given good. In the same way, society has the choice of using government resources for defense or for civilians. Foregoing production for civilians is the opportunity cost of producing more for defense.
Opportunity cost can impact diverse - and vital - factors of your lifestyle, together with money, career, home, and own family, and different lifestyle factors. In widespread, it means having to select one choice over the opposite, be it money, time, or way of life selections - and living with the outcomes.
Weighing Opportunity cost permits the commercial enterprise to make the quality possible decision. If, as an example, the employer determines an opportunity choice's possibility fee is greater than what the organization profits from its initial choice, the enterprise can exchange its mind and pursue the opportunity choice.
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Write any four differemces between administrative manpower and technical manpower
Manpower planning is likewise called human assets making plans, and it's miles the manner that control uses to determine the way wherein an organization needs to circulate from factor A to point B, in terms of manpower. This happens through planning and development and allows management to have the proper sorts of employees in the right quantity in the right place at the right time. together, having the proper manpower will assist the company to reap its dreams, and also will gain character personnel in the first-class manner possible. This form of planning allows HR departments to forecast which human sources are required to carry out which jobs. The HR branch will also investigate which skills are required of employees for each task. It is reasonably complicated and, if finished effectively, this may useful resource for HR in estimating its destiny function in phrases of call for and supply. essentially, this gives the HR department a snapshot of its destiny and enables the department to plan ahead for what is to come.
Manpower groups act as human aid managers for one-of-a-kind corporations by using imparting them with placement offerings. but, the primary goal of these corporations is to assist people who are in search of employment to get placed in the correct corporations with suitable job profiles.
Manpower is a staffing company. frequently known as a “temp provider," the employer's number one business is supplying a bridge between certified people and the businesses that require its services.
“Manpower Recruitment or deliver agency” means any man or woman engaged in imparting any. service, directly or circuitously, in any way for recruitment or supply of manpower, briefly or. otherwise, [to any other person];] [Section 65(68) of Finance Act, 1994 as amended]Jul 7, 1997.
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Chan sports purchases one year of rent on november 1 for $12,000 ($1,000 per month), debiting prepaid rent. on december 31, chan sports would record the following year-end adjusting entry:_______
The year ending adjustment entry will be -
Rent Expense 2,000 Dr.
Prepaid Rent 2,000 Cr.
An adjustment entry is one that is made to properly allocate revenue and expenses to each accounting period. It corrects previously recorded journal entries, ensuring that the financial statements at the end of the fiscal year are correct and up to date.
When you make adjustment entries, you are accurately and timely recording business transactions. This is extremely useful for keeping track of your receivables and payables, as well as determining your company's exact profit and loss at the end of the fiscal year.
If you create financial statements without accounting for adjustment entries, your company's financial health will be completely distorted. Net income and equity will be overstated, while expenses and liabilities will be understated.
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The ______ definition of money supply only includes money that is quickly and easily accessed.
Only money that can be promptly and easily retrieved is considered part of the M-1 definition of money supply.
All the money and other liquid assets present in an economy on the measurement date are referred to as the money supply. The money supply roughly consists of deposits that can be utilized virtually as easily as cash in addition to actual currency.
Governments issue coin and paper money through a mix of national treasuries and central banks. By dictating to banks what reserves they must maintain, how to offer credit, and other financial issues, bank regulators have an impact on the amount of money supply that is available to the general people.
By regulating interest rates and altering the amount of money flowing through the economy, economists study the money supply and create policies based on it. Because the money supply may have an impact on price levels, inflation, and the business cycle, both the public and private sectors conduct analyses. The most significant determining factor in the money supply in the United States is Federal Reserve policy. The term "money stock" also applies to the money supply.
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If+sales+are+$820,000,+variable+costs+are+55%+of+sales,+and+operating+income+is+$260,000,+what+is+the+contribution+margin+ratio?
Contribution Margin = Sales -Variable Cost
⇒CM=820,000−820,000×0.55
⇒CM=369,000
Contribution Margin Ratio = Contribution Margin / Sales
⇒Contribution Margin Ratio = 369,000÷820,000=0.45
In percentage, 0.45×100
=45%
What is the Contribution Margin Ratio?The ratio of contribution margin to net sales is known as the contribution margin ratio (CM ratio). It details the portion of sales revenue that can be used to pay fixed costs and make a profit.Contribution margin, or the marginal profit per unit sold, is a helpful metric in carrying out various computations and can be used as a gauge of operating leverage in cost-volume-profit analysis, a type of management accounting. The labor-intensive service sector typically has low contribution margins, whereas the capital-intensive industrial sector typically has high contribution margins.To learn more about Contribution Margin Ratio, refer to:
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When delivery time increases beyond the optimal time (in terms of cost), why does the effort cost start increasing in pnr curve?
When the delivery time exceeds the optimal time (in cost terms), the cost of effort begins to increase on the PNR curve. Adding team members to a project increases costs in a linear fashion, but does not decrease project time accordingly. The Putnam-Norden-Rayleigh (PNR) curve shows the relationship between people and effort. to = Delivery time with minimal effort.
An optimal definition is most advantageous. An example of using the word "optimal" as an adjective is the phrase "optimal score." This means the highest score anyone can get in the game. most favorable or desirable; best; optimal.
The right texture and the right color were very important for optimal performance. Each new text source requires significant tuning of manually generated rules to maintain optimal performance. These parameters should be set empirically for optimal performance of the algorithm. The maximum (highest) difficulty of a human-manageable skill, is achievable only in the most supportive environment.
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A user is setting up a home wireless network. a global address is to be used in nat translations for traffic flowing through the wireless router. how is this global address assigned?
A consumer is putting in a domestic wi-fi network. a international deal with is to be used in nat translations for traffic flowing via the wi-fi router. The wi-fi router will act as a DHCP customer which will receive international addressing from the ISP.
A router is a networking device that forwards information packets amongst computer networks. Routers carry out the website traffic directing features on the net. facts despatched via the net, which includes a web web page or e mail, is inside the shape of facts packets.
A router is a tool that connects or more packet-switched networks or subnetworks. It serves number one functions: dealing with web page site visitors amongst those networks through the usage of forwarding statistics packets to their intended IP addresses, and allowing a couple of devices to use the identical net connection.
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An example of a mixed cost is:_________
a. direct materials.
b. utility costs.
c. supervisory salaries.
d. property taxes.
The correct answer is Option B Utility costs.
What is the meaning of utility cost?Expenses for electricity, gas, other fuels for cooking and heating, water, and sewage are referred to as utility costs.Bills for utilities often include those for power, water, and gas. Along with TV, internet, phone, and streaming services, you may also include sewage, trash, and recycling on the list. Utility bills are frequently used as proof of residence, particularly when applying for licenses and passports.Water, sewer, power, gas, garbage, and recycling are examples of common utilities. Utility subscriptions might also include things like cable TV, internet, security, and phone service.Utility costs including power, gas, internet, and cable television are typically included in a tenant's monthly rent. Individual meters typically make it simple to calculate these utility expenses. However, landlords frequently add the cost of utilities like water, sewer, and garbage to the rent.
An example of a mixed cost is: Utility costs.
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Ryan lives in an apartment where he pays $7,000 a year in rent. Sarah lives in a house that she bought for $200,000, and that she could rent out for $21,000 a year. How much do these housing services contribute to gdp?.
The housing services of Ryan and Sarah's house contribute $28,000 to the GDP.
A monetary indicator of the market worth of all the finished goods and services produced in a nation over a given time period is called the gross domestic product (GDP). This measurement is frequently changed before it can be trusted as an indicator because of how complicated and subjective it is. While nominal GDP is better for comparing national economies on the global market, GDP per capita does not take into account differences in the cost of living and inflation rates of the various nations. As a result, using a basis of GDP per capita at purchasing power parity (PPP) may be more useful when comparing living standards between countries. The per capita GDP of a region is calculated as the GDP divided by the total population (also called the Mean Standard of Living).
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What is measured by such benchmarks as satisfaction surveys, percentage of existing customers retained, and increases in revenue dollars per customer? group of answer choices
Customer satisfaction is measured by such benchmarks as satisfaction surveys, percentage of existing customers retained, and increases in revenue dollars per customer.
Customer satisfaction is a marketing term that is frequently used. It is a measure of how well a company's products and services meet or exceed customer expectations. "The number of customers, or percentage of total customers, whose reported experience with a firm, its products, or its services (ratings) exceeds specified satisfaction goals." Customers play an important role in keeping a product or service relevant; therefore, it is in the best interests of the business to ensure customer satisfaction and build customer loyalty.
Customer satisfaction is important because it allows you to solve problems, prevent churn, and identify satisfied customers who can become advocates and evangelists for your company. It is a critical step in the process of establishing customer loyalty, delighting customers, and generating positive word-of-mouth.
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