You must have Medicare Parts A and B and reside in the service region to enrol in a Medicare Advantage plan, which is a non-compliant statement therefore Option B is the correct answer.
The basic goal of marketing is to persuade customers to buy something so that businesses can benefit. This describes a sales call that a person makes to generate interest in his goods and close deals.
Sales are actions involving the sale of goods or the volume of items sold during a specified time frame. A sale also includes the provision of a service for a fee.
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seller owns a van used in her plumbing business. when seller purchased a new van, she decided to sell the old one. on monday, seller sent an email to buyer, who runs a lawn service company located across the street from seller, stating: dear buyer, i would sell my old van to you for $15,000 cash. [signed] seller
The seller has a van she uses for her plumbing company. Seller made the decision to sell the old van after getting a new one. next Monday.
Who owns a lawn care business?
Lawn care companies can grow: You should start out by providing just one service, like mowing lawns.
The company offers a variety of lawn care services, including fertilization, weed and pest control, edge trimming, debris removal, and grass cutting. These services might be provided to commercial or residential clients, or even both, depending on your company's goals.
Basic lawn care services typically cost between $30 and $70 per hour, with an average cost per square foot of between $0.01 and $0.06 (which typically includes mowing and trimming the edges of a lawn). Here
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sold $500 worth of goods to a customer for $600 in cash. how are the following twinkle star co. accounts effected
Accounts Receivable rises by $500 while the Cash Account rises by $600.
What does the double-entry accounting system entail?
The double-entry accounting system is the theory underlying this inquiry. This system involves recording both a debit and a credit for each transaction and is based on the idea of double-entry bookkeeping.
In this case, a credit is recorded to the Sales account and a debit is recorded to the Accounts Receivable account. This is done to reflect the money coming into and going out of the business.
The Accounts Receivable account would be the first one to be impacted. As the customer paid $600 in cash for $500 worth of goods, this account would be increased by $600.
Sales would be the second account to be impacted.
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What do you hope to learn in business and ethics course?
2 or 3 sentences
Answer:
I hope that I will get to know more about business because it seems like a very interesting subject. Me knowing business I know it'll help me get to know more about the future and how to deal with stuff in the future.
If Carlos is waiting to be called back to his job from which he has been temporarily laid off, the Bureau of Labor Statistics will classify him as unemployed.A. True B. False
It is true that if Carlos is waiting to be called back to his job from which he has been temporarily laid off, the Bureau of Labor Statistics will classify him as unemployed.
The Bureau of Labor Statistics (BLS) classifies any person who is not working as unemployed, even if they are temporarily laid off. This means that if Carlos is waiting to be called back to his job, he would be classified as unemployed. This is because the BLS considers any person who is not employed to be unemployed.The BLS also considers someone who is employed but not at work to be unemployed.
This includes people on temporary layoff, people who are on strike, people who are on approved leave, and people who are waiting to start a job or are waiting for recall to a job. All of these people are considered unemployed by the BLS.
The BLS also considers people who are not actively looking for work but are available for work to be unemployed. This includes people who have looked for work in the last 12 months, but not in the last 4 weeks. This means that Carlos would be classified as unemployed, even if he has not been actively looking for a job in the last 4 weeks.
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which of the following are requirements of mrp? multiple select question. accurate master schedule integrity of file data accurate inventory records use by a range of departments low levels of inventory
The requirements of MRP include accurate master schedule, integrity of file data and accurate inventory records.
Material requirements planning (MRP) is a business-oriented software-based integrated inventory and supply management system. MRP is used by businesses to estimate raw material amounts, monitor inventory levels, and plan production and delivery. MRP assists businesses and manufacturers in defining what materials are required, how much are required, and when materials are required, and works backward from a production plan for final items. MRP translates a plan into a list of requirements for the subassemblies, components, and raw materials required to complete a final product on time. MRP assists producers in understanding inventory requirements while balancing supply and demand. Manufacturers control the types and amounts of materials they acquire in a planned and cost-effective manner to guarantee that they can fulfill current and future consumer demand.
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assume joslyn farm is a profit-maximizing firm in the perfectly competitive corn industry, which is in long-run equilibrium.
If Joslyn Farm is a profit-maximizing firm in the perfectly competitive corn industry, which is in long-run equilibrium, then it will be producing at the industry's market price and earning zero economic profits.
This means that the firm is producing the quantity of corn that maximizes its profits, and that the industry is in a state of equilibrium where the quantity supplied is equal to the quantity demanded. In this situation, the firm is earning a normal profit, which is the minimum amount of profit necessary to keep the firm in business. The firm is also earning a price that is equal to the industry's marginal cost, which is the cost of producing one additional unit of output. This means that the firm is not earning any economic profit, as the price it is receiving is equal to its costs. The request price is the current price at which an asset or service can be bought or vended. The request price of an asset or service is determined by the forces of force and demand. The price at which volume supplied equals volume demanded is the request price.
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S. Pagan and T. Tabor share income on a 6 : 4 basis. They have capital balances of $100,000 and $60,000, respectively, when W. Wolford is admitted to the partnership.
Prepare the journal entry to record the admission of W. Wolford under each of the following assumptions.
1. W. Wolford is admitted to the partnership in exchange for a $50,000 capital contribution:
Debit: Capital-W. Wolford $50,000
Credit: Capital-S. Pagan $4,000
Credit: Capital-T. Tabor $2,667
This journal entry records the increase in capital for W. Wolford and the decrease in capital for S. Pagan and T. Tabor. The 6:4 income sharing ratio is used to calculate the decrease in capital for each existing partner.
2. W. Wolford is admitted to the partnership in exchange for a $50,000 capital contribution and a $20,000 loan:
Debit: Capital-W. Wolford $50,000
Debit: Loan-W. Wolford $20,000
Credit: Capital-S. Pagan $4,000
Credit: Capital-T. Tabor $2,667
This journal entry records the increase in capital and loan for W. Wolford, and the decrease in capital for S. Pagan and T. Tabor. The 6:4 income sharing ratio is used to calculate the decrease in capital for each existing partner.
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credibility and trust can improve which of the following? (choose every correct answer.) multiple select question.
Credibility and trust can improve leadership abilities when compared to other options.
Why is credibility crucial?One of the most crucial components of leadership is credibility, which stems from skill and character. For leaders looking to produce outstanding results and beneficial effects, having high credibility is a huge benefit. Poor reputation is disastrous.
What factors undermine credibility?Your credibility will suffer if you make a promise to someone and then break it. With an explanation, you can lessen the damage a little, but you will still suffer some loss. You will lose a lot of credibility if you don't fulfill a major commitment or if you don't fulfill a major commitment but don't explain why.
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assume that the market for 3d lcd televisions is perfectly competitive and that the production of 3d lcd tvs creates a negative externality, is that true?
The equilibrium price of Blu-ray players would rise together with the demand for the format.
Products that are consumed together are called complement items. Demand would rise if LCDs' prices dropped. The law of supply and demand is adhered to here. The law of demand states that as price decreases, quantity demanded increases and as price increases, quantity demanded decreases. The demand for Blu-ray will rise if the demand for LCD rises. A rise in price would result from an increase in demand. The equilibrium quantity will rise as you increase. The demand for LCD televisions will increase when the cost of a substitute increases because they become more affordable than the substitute. As a result, the quantity will increase and the demand curve will move outward. The amount supplied will increase together with the equilibrium price as a result of the outward shift.
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suppose that france and italy both produce wine and cheese. france's opportunity cost of producing a case of cheese is 5 barrels of wine, while italy's opportunity cost of producing a case of cheese is 10 barrels of wine. by comparing the opportunity cost of producing cheese in the two countries, you can tell that question blank 1 of 5 choose your answer... has a comparative advantage in the production of cheese and question blank 2 of 5 choose your answer... has a comparative advantage in the production of wine. suppose that france and italy consider trading cheese and wine. france can gain from specialization and trade as long as it receives more than question blank 3 of 5 choose your answer... of wine for each case of cheese it exports to italy. similarly, italy can gain from trade as long as it receives more than question blank 4 of 5 choose your answer... of cheese for each barrel of wine it exports to france. based on your answer to the last question, a price ratio between question blank 5 of 5 choose your answer... barrels of wine per case of cheese will benefit both countries.
By contrasting the opportunity costs associated with making cheese in the two nations.
Spain sacrifices the production of 3 barrels of beer to generate 1 pound of cheese, but Germany sacrifices the manufacture of 11 barrels of beer to make the same amount of cheese. Additionally, Spain produces cheese at a lower cost than Germany because it uses less barrels of beer for every pound of cheese produced. The manufacture of cheese is another area where Spain enjoys a comparative edge. In contrast, Spain may only generate 3 barrels of beer by contributing up to 1 pound of cheese, whereas Germany can contribute up to 11 barrels of beer. Germany produces beer more effectively since it is less expensive there than elsewhere.
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) Mr. Furqan started a sole proprietorship business. The business is newly established and Mr. Furqan hired an Accountant for keeping the journal updated. Suppose you are the Accountant of Mr. Furqan business, prepare the journal book for the month of June, 2019. You are also required to post journal entries into the ledger and prepare the trial balance. Detail of the transactions during June, 2019 are given as follows:-
June.1. Mr. Furqan commenced business with Cash of Rs. 2, 200000/- Building Rs.7,500,000/-
1. Purchased Goods with cash Rs.400,000/-
6. Purchased furniture from Miss Hareem Rs.220000/-
8. Sold goods to Mr. Majid Rs.220000/-
17. Goods returned to Miss Hareem Rs.10,000/-
18. Stationery Purchased Rs.20,000/-
22. Returned goods to Mr. Majid Rs. 12,000/-
28. Utility bill paid for the month Rs.70,000/-
31. Salaries paid for the month Rs.70000/-
As the Accountant of Mr. Furqan's business, I would prepare the journal book for the month of June, 2019 as shown in the image:
What is the journal book about?After i have prepare the journal book for the month of June, 2019 as shown above, then, I would post these journal entries into the ledger and prepare the trial balance.
This can be done by using a software or manually by creating T-accounts for each account and listing the debit and credit entries in each account. After that, we can check the debit and credit balance of each account and ensure that they are equal.
Therefore, With this, we have completed the journal entries, posting to ledger, and prepare the trial balance for the month of June 2019.
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which of the following best explains why individuals and societies must make choices when presented with alternatives?
With most resources scarce, individuals and societies are forced to make decisions.
Economics deals with how individuals and societies allocate scarce resources, why they choose to do so, and the consequences of those choices. Scarcity is sometimes viewed as a fundamental problem in economics. We live in a world where people's needs are endless, so resources are scarce, but the land, labor and capital needed to meet those needs are limited. This conflict between society's boundless needs and our limited resources means that choices must be made in deciding how to allocate scarce resources.
An economic resource, also called a factor of production. These include the land (natural resources such as minerals and oil) that individuals and companies have used, labor (the work people do), capital (tools, equipment and facilities), and entrepreneurship (organizing, developing and running businesses). ability to do so). In the production of goods and services.
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which of the following most directly contributed to the construction of canals depicted on the map? responses the building of a national telegraph system the building of a national telegraph system the expansion of cotton exports to europe the expansion of cotton exports to europe funding from state governments and private investors funding from state governments and private investors the extensive use of enslaved laborers
The extensive use of enslaved laborers is most directly contributed to the construction of canals depicted on the map.
What is map?
A map is a visual representation of a geographical area, such as a country, continent, or region. Maps can be two-dimensional or three-dimensional, and they are usually drawn to scale. Maps are used to display data, show boundaries and patterns, and provide navigation. They can also be used to represent physical features, such as rivers, mountains, and lakes. Maps can also be used to show political, economic, or social trends. Maps are essential tools for anyone who needs to understand the physical and human geography of a region.
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Financial Accounting provides information for external decision makers (ie. investors, lenders) while managerial accounting provides information to internal decision makers (ie. manager, employees)
Financial accounting transmits financial data to individuals outside the corporation, whereas management accounting provides information that enables managers within the company .
Financial accounting is what?Financial accounting is the process of recording, compiling, and reporting the numerous transactions arising from corporate operations over time. It is a specific subfield of accounting.
Financial accounting is a subfield of accounting in which financial transactions are summarized, analyzed, and reported on by a company. In this, financial statements that can be viewed by the public must be prepared.
Financial accounting is the process of documenting, compiling, and reporting transactions and revenue-expense generation over time. Investors or sponsors, for instance, are required to verify an account statement before expressing an interest in working with the company.
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sale of equipment prepare the journal entry for the following transactions: (1) geysler company sold some old equipment that initially cost $30,000 and had $25,000 of accumulated depreciation and received cash in the amount of $2,000. general journal description debit credit cash answer 0 answer 0 accumulated depreciation answer 0 answer 0 answer answer 0 answer 0 answer answer 0 answer 0 (2) assume the same facts except geysler received $8,000. general journal description debit credit cash answer 0 answer 0 answer answer 0 answer 0 answer answer 0 answer 0 equipment answer 0 answer 0
You're attempting to get goods and credit. Your obligation is growing. Your accounts produce the liability. You will go there since your liability is growing.
What is the journal description ?First, let's discuss a few David and credit-related ideas. With the balance item, let's get started. As a result, if the asset increases. If a transaction account is what makes the asset on the balance grow, then. That, David, you'll do. If it causes the asset to decline, you will credit that. A transaction causes a reduction in equity.
In the event that the account contributes to an increase in the libraries and equity, you will credit it. You will make that decision if a particular account raises revenues and profits at the expense of expenses and losses, but you won't if the opposite is true. The increase in income and the value of the property will be credited.
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the performance appraisal system that involves the development of a set of mutually agreed-upon objectives between employees & supervisors is __________________________.
The performance appraisal system that involves the development of a set of mutually agreed-upon objectives between employees & supervisors is management by objectives.
What are the purpose of a performance appraisal?
Employee evaluations can influence an organization's performance. They give organizations knowledge on how workers are contributing and allow them to:
Determine how management may enhance working circumstances to boost output and the calibre of the work produced.Before they have an influence on departmental production, deal with behavioural difficulties.Recognizing employees' abilities will motivate them to give more.Encourage the professional and skill development of staffEnhance strategic decision-making when internal hiring, succession planning, or layoffs are necessary.Recognize and thank an employee for their accomplishments and efforts.Recognize the chance for a bonus or promotion.Determine and advocate for the need for more education or training to advance your profession.To learn more about performance appraisal
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A key contribution of ________ was the identification of the major functions of management which are planning, leading, organizing, and controlling.O administrative managementO scientific managementO theory x
O the contingency perspective
A key contribution of Henry Fayol was the identification of the major functions of management which are planning, leading, organizing, and controlling.
Explain about henry Fayol: It emphasizes the importance of analyzing the specific context of a situation and adapting management strategies accordingly, rather than relying on a one-size-fits-all approach. This perspective highlights the need for managers to be flexible and adaptable in their decision-making, and to be able to switch between different management styles as needed.The contingency perspective suggests that there is no one-size-fits-all approach to management and that managers must adapt their strategies and tactics to the unique situation at hand. This perspective emphasizes the importance of flexibility and the ability to respond quickly to changing conditions. It also stresses the importance of considering the external environment, such as the industry and market conditions, as well as the internal conditions of the organization, such as the culture and resources available.One key advantage of the contingency perspective is that it allows managers to make decisions based on the specific circumstances of their organization, rather than relying solely on general principles or preconceived notions. This can lead to more effective and efficient decision-making and better outcomes for the organization.To learn more about Henry Fayol refer to:
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custom cabinetry has one job in process (job 120) as of june 30; at that time, its job cost sheet reports direct materials of $6,000, direct labor of $2,800, and applied overhead of $2,240. custom cabinetry applies overhead at the rate of 80% of direct labor cost. during july, job 120 is sold (on credit) for $22,000, job 121 is started and completed, and job 122 is started and still in process at the end of july. custom cabinetry incurs the following costs during july. job 120 job 121 job 122 direct materials used $ 1,000 $ 6,000 $ 2,500 direct labor used 2,200 3,700 2,100 1. prepare journal entries for the following july transactions and events a through e. direct materials used. direct labor used. overhead applied. sale of job 120. cost of goods sold for job 120. hint: job 120 has costs from june and july. 2. compute the july 31 balances of the work in process inventory and the finished goods inventory accounts. (there were no jobs in finished goods inventory at june 30.)
In Alabama, the NAACP's operations were regarded as unlawful. The second response, illegal, is the right one.
The state of Alabama believed that NAACP had damaged its inhabitants, was disruptive, and did not adhere to the requirements necessary to conduct business in the state. The NAACP was thought to be in charge of the state's unfavorable reputation. The seminal decision in which the U.S. Supreme Court acknowledged the freedom of association as a right secured by the first Amendment was NAACP VS. ALABAMA. This court verdict from Alabama was overturned in 1958, giving the NAACP a victory and paving the way for the group's ultimate return to the state in 1964. It had previously been prohibited from working there.
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unlike others who believed that values could not be separated from the research process, german social scientist emphasized that sociology should be value free, that is, research should be conducted in a scientific manner to exclude the researcher's personal values and economic interests. a. Herbert Spencer
b. Emile Durkheim
c. Karl Marx
d. Max Weber
Unlike many early analysts, who believed that values could not be separated from the research process, German social scientist d. Max Weber emphasized that sociology should be value free. Research should be conducted in a scientific manner and should exclude the researcher's personal values and economic interests.
Who was the German sociologist who exhorted his peers to have no values?Max Weber is a sociologist.
The demand for freedom from value judgements in the social sciences was first made by the German sociologist Max Weber (1864–1920), who referred to it as Werturteilsfreiheit (value-freedom).
According to Max Weber's three-part theory of stratification, social distinction is based on class, status, and power.
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which of the following are economic events? (select all that apply.) multiple select question. a proposal to purchase $1,000 of inventory from supplier. the payment of employee salaries for the week. borrowing $10,000 from the bank.
The payment of employee salaries for the week. Borrowing $10,000 from the bank. These are some economic events.
An economic event is what?Any occurrence that has an impact on a business entity and, as a result, results in transactions that can be quantified in terms of monetary units is referred to as an economic event. For instance, the sale of things, the purchase of materials, and the purchase of machinery and equipment.
The economic crisis had a cause, what was it?A stock market crash, a decline in consumer confidence, rising interest rates, the bursting of asset bubbles, and many other factors can all contribute to an economic recession. A recession can result from the majority of circumstances that cause the economy to sluggish if they are not addressed.
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The purchase price of a car is $60,000. Mr. Posey makes a down payment of $30,000 and borrows the balance from a bank at 6% APR interest, compounded monthly, for 5 years. Calculate the nearest value of the required monthly payments to pay off the loan. a) $ 400 b) $ 580 c) $ 600 d) $1,160
The objectives of the numbered steps are as follows: To spell out the conditions that an applicant must satisfy in order to submit an application.
The Workplace Papers test assesses an individual's ability to comprehend and use information from actual workplace documents when making choices and addressing issues. The documents include messages, emails, letters, instructions, signs, announcements, rules, websites, contracts, and regulations. The term "HR documentation" designates a collection of documents that organizations save in order to preserve evidence, monitor changes, and give information that may be relevant to decision-making. These documents frequently contain information about company actions, employee statistics, and event reports. In this case, the workplace document is a recruiting form that the candidate fills out and which includes questions about the applicant.
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organizations that seek to lower their costs through the supply chain design they choose should choose a ___ decision.
Businesses want to enhance their supply networks in order to cut costs and maintain their competitiveness.
What are the two decision types that are important to supply chain management?Strategic and operational decisions are the two main categories into which we divide those for supply chain management. Decisions that are strategic in nature are often taken over a longer time horizon, as the phrase suggests.
Which of the three supply chain strategies are they?Three supply-chain management techniques for small firms
demand-driven supply chain strategy. Consumer demand is the main emphasis of a supply chain that is driven by demand.
Supply chain management that is flexible... a strategy that is collaborative
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FILL IN THE BLANK an important difference between goods and services is that a product such as a car is a(n)____________and can be touched, whereas a(n)_____________such as insurance is intangible and cannot.
A key distinction between products and services is that a product, such as a vehicle, is tactile and can be handled, but a service, such as insurance, is intangible and cannot.
Goods are typically (but not necessarily) tangible goods such as pens, actual books, salt, apples, and caps. Architects, suppliers, contractors, technologists, teachers, physicians, lawn care workers, dentists, barbers, waiters, internet servers, a digital book, a digital video game, or a digital movie are examples of services. All economic activity and commerce is supported by the creation, distribution, and consumption of commodities and services. Consumption of goods and services is supposed by economic theory to bring utility (satisfaction) to the customer or end-user, while firms also consume goods and services in the course of generating other commodities and services.
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They offered a flat price of 10,000 per case. Cost to charge ratio is 0.80 for routine services and 0.75 for all other ancillary services what would the average cost be
They offered a flat price of 10,000 per case. The average cost is
(10,000 * 0.8 * X) + (10,000 * 0.75 * Y)
What is the average cost?Generally, To determine the average cost, we would need to know the proportion of routine services to all other ancillary services.
If the proportion of routine services is X, and the proportion of all other ancillary services is Y,
then the average cost would be:
(10,000 * 0.8 * X) + (10,000 * 0.75 * Y)
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in the polc framework, social networks are a key ingredient in the component: question 9 options: planningorganizing leading controlling
In the POLC framework, social networks are a key ingredient in the component organizing.
The key difficulty for a manager is to address challenges creatively. While drawing from a number of academic fields, management concepts have long been classified into the four primary functions of planning, organizing, leading, and controlling to assist managers in responding to the challenge of creative problem solving (the P-O-L-C framework). When carried out in the day-to-day reality of operating an organization, the four functions depicted in the P-O-L-C graphic are really strongly interconnected. As a result, you should avoid trying to study and comprehend a comprehensive, clear explanation for classifying talents and practices that comprise the entire P-O-L-C framework. It should be noted that this framework is not without flaws. These concerns derive specifically from the fact that, while the P-O-L-C functions may be ideal, they do not adequately portray the day-to-day operations of actual managers.
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letters of inquiry that businesses write to other businesses are routine business communication and usually contain only
The letters of inquiry that businesses write to the other businesses that are routine business communication and usually only ascertain its authenticity regarding such as supply of particular goods or services.
What is business communication?Business communication seeks to aid an organization in attaining a major goal by disseminating information to both internal and external audiences. A company's success in the marketplace is greatly influenced by how its personnel interact and conduct business there. Business communication can be two-way either internally, between personnel, or externally, between businesses or customers. It has been shown that when information is passed from the top of the hierarchy to the bottom, employee stress levels decrease as long as the information clarifies and reassures the employee. For this kind of communication, memos and other internal documents may be employed. To a certain extent, top-down communication is advantageous, but when it becomes excessive, employees may see it as micromanaging.
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a high school student walks into a restaurant. the restaurant offers a special price which takes 20 percent off the regular price of the dinner. in this voluntary exchange,______
A price is the amount a buyer gives a seller in exchange for goods or services for which a voluntary barter has a vested interest.
Economic production can cause environmental damage. This trade-off applies to all countries, whether exchange high-income or low-income, whether the economy is market-oriented or command-oriented.
Externalities, sometimes called spillovers, occur when an exchange between a buyer and a seller affects a third party who is not part of the exchange. Externalities can be positive or negative. Market failure occurs when the market itself does not allocate resources efficiently in a way that balances social costs and benefits. Externalities are an example of market failure.
Social costs are costs that include both the private costs of the firm and additional external costs incurred by third parties outside the production process.
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Stop 'n' shop, an electronics retail company, focuses mainly on young men between the ages of 16 and 22. These shoppers are the _____ of Stop 'n' Shop.
These shoppers are primary target audience of Stop 'n' Shop, an electronics retail company.
What is retail?Retail sales are made to consumers as opposed to wholesale sales, which are made to organizations or enterprises. A retailer purchases goods from producers in bulk, either directly or via a wholesaler, and then resells them to clients in more manageable quantities for a profit. Markets and establishments that sell goods for retail have a long history. From being little more than "rude booths" over the years to the posh shopping centers of today, retail establishments have changed over time. Additional retailing support services include the provision of financing, delivery, advice, styling, and a number of other auxiliary services. After establishing a strategic retail plan, retailers develop a retail mix that includes goods, pricing, site, marketing, personnel, and presentation.
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automatic stabilizers can do which of the following? responses offset the destabilizing influence of changes in tax revenues offset the destabilizing influence of changes in tax revenues aid the economy to move away from the full-employment output level aid the economy to move away from the full-employment output level allow policymakers to formulate a set of rules flexible and comprehensive enough to eliminate discretionary actions allow policymakers to formulate a set of rules flexible and comprehensive enough to eliminate discretionary actions cause tax revenues to decrease when gross domestic product (gdp) decreases and to increase when gdp increases cause tax revenues to decrease when gross domestic product (gdp) decreases and to increase when gdp increases allow policymakers to prescribe public works programs during inflationary periods because expenditures for unemployment and welfare have correspondingly decreased
A highly competitive corporation will produce at a profit if the price is higher than the average total cost at the profit-maximizing volume of output in the near run.
Profit maximization is the fast-run or long-term strategy in economics that enables a company to identify the charge, entry, and output stages that result in the highest profit. The firm is typically modelled as maximizing profit in neoclassical economics, which is currently the dominant method of microeconomics. Earnings are calculated using the formula earnings = general sales - general value. As a result, a business maximizes its profits when the primary order—MR = MC—is fulfilled and the secondary order depends on the first order. This concept differs from wealth maximization in terms of time-frames for income growth and corporate goals. Profit maximization is a strategy used by business organizations to guarantee that the ideal output and rate levels are achieved in order to maximize their returns.
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TRUE/FALSE. provide foundations on which differentiating marketing values can be established, promoted and delivered.
The feature or features that set your product or service apart from the competition for your target market are known as product differentiation.
What Is Product Differentiation?It improves brand loyalty, sales, and growth by highlighting the differences between what you sell and what your rivals provide. An illustration of a differentiator is if your software company offers customer support account managers but your rivals do not. Or you might want to emphasize this as a product difference if your athletic gear company, unlike rivals, allows personalization.By differentiating your product from the competition, you might get a competitive edge or outperform rival products. To put it another way, you want to rise above the competition rather than merely stand out from it.In any sector, but particularly if you operate in a market that is oversaturated with rivals, it is critical to differentiate your product. The aim is to demonstrate to potential clients what you can provide that other companies cannot—and why it is beneficial to them.To Learn more About product differentiation Refer To:
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