Big law firm appears to be seeking the equitable relief of:. restitution
Hence, Option A is correct.
When you make restitution for someone who has had their property damaged in any way, it is known as restitution. The best illustration of restitution is which of the following circumstances? Tom borrows his friend's automobile and returns it with a tank of gas that is empty. He apologizes and promises to fill the tank the following day.Restitution can take three main forms: direct orders, fines for revocation of parole, and restitution fines. In a single case, the court may impose all three types of reparation.Restitution examples include a shoplifter who is required to reimburse a store owner for the cost of a stolen item or an attacker who is required to cover their victim's medical costs following a severe assault.To know more about Restitution here
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Because in the long run there can be no economic profit in pure competition and producers will produce at the lowest possible cost, then the lowest possible prices are assured for consumers.
True
False
False. While it is true that in pure competition, producers strive to produce at the lowest possible cost, and this can lead to lower prices for consumers, it does not necessarily mean that the lowest possible prices are assured. Several factors can influence prices, including market demand, supply chain costs, government regulations, and competitive dynamics.
In a perfectly competitive market, where there are many buyers and sellers, and no single entity has control over the market, prices tend to be driven down to the level of minimum average total cost. However, this doesn't guarantee that prices will be the absolute lowest possible. Factors such as production efficiency, economies of scale, and technological advancements can further lower costs and prices, but other factors can offset these effects.
Additionally, in real-world markets, perfect competition is rare. Most markets have some degree of imperfections, such as monopolies, oligopolies, or monopolistic competition. In these cases, the market power of a few producers can influence prices and prevent prices from reaching the lowest possible level.
Therefore, while pure competition can lead to lower prices, it does not assure the lowest possible prices for consumers in all circumstances.
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On June 1, 2016, Enne Brahtz Corporation received $3,600 as advance payment for 12 months' advertising. The receipt was recorded as a credit to Unearned Fees. What adjusting entry is required on December 31, 2016?
Answer:
Unearned Fees ($3,600 × 6 months ÷ 12 months) $1,800
To Advertising revenue $1,800
(Being the adjusting entry is recorded)
Explanation:
The adjusting entry is shown below;
Unearned Fees ($3,600 × 6 months ÷ 12 months) $1,800
To Advertising revenue $1,800
(Being the adjusting entry is recorded)
Here we debited the unearned fees as it decreased the liability and credited the advertising revenue as it increased the revenue account
The six months could be computed from June 1 to December 31
The adjusting entry for the transaction includes Debit to Unearned Fees $1,800 and Credit to Advertising revenue $1,800.
Date Account titles and Explanation Debit Credit
Unearned Fees $1,800
($3,600 × 6 months/ 12 months)
To Advertising revenue $1,800
(Being the adjusting entry is recorded)
In conclusion, the adjusting entry for the transaction includes Debit to Unearned Fees $1,800 and Credit to Advertising revenue $1,800.
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"21. Production Allocation A company will manufacture a total of 10,000 units of its product at plants A and B. Available data are as follows: Between the two plants, the company has decided to allot no more than $115,000 for total costs. What is the minimum number of units that must be produced at plant A ?
The minimum number of units that must be produced at plant A to meet the given constraints is 5,000 units.
How can we determine the minimum number of units that must be produced at plant A?To find the minimum number of units at plant A, we need to consider the total cost allocation. Let's assume x units are produced at plant A. Since the company has decided to allocate no more than $115,000 for total costs, we can set up the following equation:
\( \text{Cost at Plant A} + \text{Cost at Plant B} = \text{Total Cost Allocation} \)
Let's assume the cost per unit at plant A is \( c_A \) and at plant B is \( c_B \). The cost at plant A would then be \( x \times c_A \), and the cost at plant B would be \( (10,000 - x) \times c_B \).
\( x \times c_A + (10,000 - x) \times c_B \leq 115,000 \)
Now, we can solve this equation to find the minimum value of x.
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Jessica wants to save $100,000 in the next 10 years so she can have a good start on her retirement fund. How much will her monthly contributions need to be if she can earn a 12% return on her money?.
Answer: Jessica wants to save $100,000 in the next 10 years so she can have a good start on her retirement fund. Her monthly contributions will need to be $434.71 if she can earn a 12% return on her money.
Which of the following would serve as sufficient consideration for a promisee by a creditor to discharge an existing debt?
In the given scenario, payment in part would serve as sufficient consideration for a promisee by a creditor to discharge an existing debt.Consideration is the inducement to a contract. Consideration is the quid pro quo.
It is a value in exchange for what is being given or done by the other party in the contract. It is what the promisee gives or does for the promisor or what the promisor gives or does for the promisee.A debt is an amount of money borrowed by a debtor. A debt may be discharged when the debtor agrees to pay it or the creditor agrees to discharge it. Payment in part would serve as sufficient consideration for a promisee by a creditor to discharge an existing debt. The debtor must pay some amount of the debt owed to the creditor. Therefore, the correct option is: Payment in part.
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What do Classic Liberals say about IPR?
Classic liberals generally support the idea of intellectual property rights (IPR), as they view it as a means of protecting individuals' creative and innovative efforts.
They believe that IPR allows creators and inventors to profit from their work and encourages further innovation and creativity. However, they also believe that IPR should not be excessively restrictive and should strike a balance between protecting innovation and promoting competition.
Overall, classic liberals advocate for a system of IPR that incentivizes innovation and creativity while also fostering competition and consumer choice. It's important to note that classic liberalism, like any political and economic philosophy, encompasses a range of perspectives and opinions.
Not all classic liberals may hold the same views on IPR, and individual opinions may vary. Additionally, societal and technological changes may impact the perspectives of classic liberals and other stakeholders on IPR over time.
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Se venció una letra de cambio por $2,000 hace tres meses y se cobra el 1% mensual más IVA (16%) de intereses. Cual es el ajuste
Answer:
ajuste por moras e intereses = $23.20
valro de la letra de cambio = $2,000
total $2,023.20
Explanation:
el interes real que se cobra por mes = 1% x (1 + 16%) = 1.16%
el valor total de los intereses cobrados mas la letra inicial = $2,000 x (1 + 1.16%)³ = $2,000 x 1.016³ = $2,023.20
ajuste por moras e intereses = $23.20
valro de la letra de cambio = $2,000
total $2,023.20
european opera companies were typically managed by:
European show organizations were ordinarily managed by Impresarios.
The option (A) is correct.
European opera companies were to be certainly typically directed by directors. Chiefs were individuals who accepted the occupation of managing and conveying show presentations. They were liable for various pieces of the show association's exercises, including enlisting singers, craftsmen, and creation staff, getting execution scenes, directing assets, and propelling the manifestations.
Impresarios played a crucial role in coordinating and supervising the imaginative and determined parts of show displays in Europe. the occupation of Makers was created, and by the mid-nineteenth 100 years, show associations were continuously regulated by bosses or senior managers.
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This question is not complete, Here I am attaching the complete question:
European opera companies were typically managed by:
(A) Impresarios
(B) Beethoven
(C) Chopin
The first paragraph of a business letter is the ____.
A. Introduction
B. Addresses
C. Conclusion
D. Supporting details
Answer:
A. Introduction is the first paragraph
Explanation:
You start with an introduction when writing a business letter
Determine whether each scenario is an example of tax avoidance or tax evasion. Andrea keeps a record of all her business-related expenses. Daniel claims the amount of interest paid for his mortgage as a tax deduction. Christian did not report the tips he earned on his tax return.
Answer:
1. Tax avoidance
2.Tax avoidance
3.Tax evasion
Explanation:
Tax avoidance refers to a legal way of reducing one's tax liability through lawful deductions. Ways to reduce tax liabilities are; capitalizing on tax advantage retirement accounts, liasing with tax advisor on the legal way for tax avoidance. Tax avoidance is however legal.
Examples of tax avoidance are;
1. Andrea keeps a record of all her business related expenses.
2. Daniel claims the amount of interest paid for his mortgage as tax deductions.
Tax evasion is a deliberate attempt by a tax payer to avoid payment of tax liability. It is a fraudulent action by a tax payer to wilfully evade tax in an illegal manner. In tax evasion, income is concealed to tax authorities inorder to evade tax payment which is a criminal offence. It is to be noted that tax evasion is illegal in the eye of the law.
Example of tax evasion is ;
3. Christian did not report the tips he earned on his tax return.
Answer:
Examples of tax avoidance are;
1. Andrea keeps a record of all her business related expenses.
2. Daniel claims the amount of interest paid for his mortgage as tax deductions.
Tax evasion is a deliberate attempt by a tax payer to avoid payment of tax liability. It is a fraudulent action by a tax payer to wilfully evade tax in an illegal manner. In tax evasion, income is concealed to tax authorities inorder to evade tax payment which is a criminal offence. It is to be noted that tax evasion is illegal in the eye of the law.
Example of tax evasion is ;
3. Christian did not report the tips he earned on his tax return.
Explanation:
Laramie Trucking's CEO is considering a change to the company's capital structure, which currently consists of 25% debt and 75% equity. The CFO believes the firm should use more debt, but the CEO is reluctant to increase the debt ratio. The risk-free rate, r RF, is 5.0%, the market risk premium, RP M, is 6.0%, and the firm's tax rate is 25%. Currently, the cost of equity, r s, is 11.5% as determined by the CAPM. What would be the estimated cost of equity if the firm used 60% debt? (Hint: You must first find the current beta and then the unlevered beta to solve the problem.)
Answer:
17.74%
Explanation:
Calculation to determine What would be the estimated cost of equity
First step is to calculate the Original beta using this formula
Original beta = (rs-rRf)/ RPM
Let plug in the formula
Original beta = 11.5%- 5%
Original beta = 6.5%/ 6%
Original beta = 1.083
Second step is to calculate original D/E using this formula
original D/E= D/A / (1-D/A)
Let plug in the formula
original D/E = .25/ (1-.25%)
original D/E = .333
Third step is to calculate Unlevered Beta using this formula
Unlevered Beta= Bu = Bl / 1+((1- Tax rate) x (D/E)
Let plug in the formula
Unlevered Beta= 1.083/1+((1-.25) x .333
(D/E) =1.083/1+(0.75*.333)
(D/E) =1.083/1+.24975
(D/E) =1.083/1.24975
(D/E)=0.87
Fourth Step is to calculate the Target D/e
Target D/e = .6/.25
Target D/e = 2.4
Fifth step is to calculate the New Beta using this formula
New Beta = bu* (1+(D/E)(1- tax rate)
Let plug in the formula
New Beta= .87 *(1+(2.4)*(.6)
New Beta= .87 *(1+1.44)
New Beta= .87 *2.44
New Beta=2.1228
Now let calculate the estimated cost of equity using this formula
rs = rRF + new beta (RPm)
Let plug in the formula
rs= 5% + 2.1228*6
rs= 17.74%
Therefore the estimated cost of equity will be 17.74%
Executive orders 12674 and 12731 form the foundation policy on the ethical conduct of Federal Employees
Answer: a. Making authorized commitments
Explanation:
Executive Orders 12674 and 12731 (which amended 12674) of 1989 and 1990 respectively, were signed by President Bush with the purpose of setting forth the principles of ethical conduct that were required of Federal Government Officers and Employees.
These principles were meant to ensure that government officials and employees abstained from Abuse of power whilst working in such a way as not to bring disrepute to the Federal Government.
All of the above are violations of the Order except option A which is stated in Part I Section 101 (f) of Executive Order 12674. It reads that, "Employees shall make no unauthorized statements..." thus insinuating that employees are allowed to make Authorized statements.
The options given are violations of these Executive Orders except A. Making authorized commitments.
It should be noted that executive orders 12674 and 12731 form the foundation policy on the ethical conduct of Federal Employees. They're simply used to guide the way that Federal workers behave.
The violations of the Acts include using public office for private gain, giving preferential treatment to any person or organization, and defrauding the government.
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splish brothers company is considering two capital investment proposals. estimates regarding each project are provided below: initial investment $360000 $684000 the net present value for project nuts is
Splish Brothers Company is considering two capital investment proposals with different initial investments. The estimates of each project are given below:Initial investment = $360,000Net present value (NPV) of the project is not given.Initial investment = $684,000Net present value (NPV) of the project is not given.
Project Nuts and Project Bolts can be evaluated through NPV. NPV is a technique used to evaluate the profitability of a capital investment proposal. It is the difference between the present value of the future cash inflows and the initial investment. If the NPV is positive, the investment proposal is considered profitable.
If the NPV is negative, the investment proposal is considered unprofitable.Let's calculate the NPV of each project.Project Nuts:To calculate the NPV of Project Nuts, the future cash flows need to be estimated. However, no information regarding the future cash flows is given.
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Why do cats meow? I think I want to be a cat.
Answer:
Cats meow to their mommies when theyre kittens, but once they become adult cats they only meow to people. to tell us stuff. :)
you should totally be a cat.
The cat's meow is her way of communicating with people. Cats meow for many reasons—to say hello, to ask for things, and to tell us when something's wrong. ... Kittens meow to let their mother know they're cold or hungry, but once they get a bit older, cats no longer meow to other cats.
In Appellia, it takes 10 units of resources to increase its output of sugar from 12 tons to 13 tons, but 11 units of resources to increase output from 13 tons to 14 tons, and 12 units of resources to increase output from 14 tons and 15 tons, and so on. The need for increasing resources is an example of
Answer:
diminishing returns to specialization
Explanation:
The law of diminising returns states that with each additional unit of input used in the production process, there will be a point at which additional unit of input will result in less output. Marginal output starts to decrease.
In the given scenario it takes 10 units of resources to increase its output of sugar from 12 tons to 13 tons, but 11 units of resources to increase output from 13 tons to 14 tons, and 12 units of resources to increase output from 14 tons and 15 tons.
There is need of 10 units of input to increase one unit of output, then we need 11 units to do the same, and finally 12 units to increase output by 1.
This is an example of how input increase loses efficacy and it is an example of diminishing returns to specialization.
Gabbie needs to directly connect with her customers in order to educate them about the advantages of using her products. Face-to-face interaction with the customers isn’t possible. What is the next best medium?.
If face-to-face interaction with customers isn't possible, the next best medium for Gabbie to directly connect with her customers in order to educate them about the advantages of using her products is through online platforms. Explanation: In the modern era of digitalization, people are becoming more reliant on online platforms. The next best medium for Gabbie to directly connect with her customers in order to educate them about the advantages of using her products is through online platforms.
Using online platforms such as social media, websites, blogs, and email, Gabbie can reach out to a large audience and provide information about her products. She can use visual aids such as videos, images, and infographics to make the content more engaging. Moreover, using email and chatbots, she can answer the queries and concerns of her customers in real-time without the need for face-to-face interaction.
These platforms can be used to build trust with customers, increase brand awareness, and foster customer loyalty. Hence, the online medium can be the best substitute for face-to-face interaction with customers.
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this is for you so i dont feel bad
Sarah receives a semi-monthly salary of $933.20 and works a regular workweek of 40 hours. A. What is Sarah's hourly rate of pay? 5 marks b. If Sarah's gross earnings in one pay period were $1090.19, for how many hours of overtime was she paid at time and one-half regular pay
Answer:
$10.7677
9.72 hours
Explanation:
Given the following :
Semi-monthly salary = $933.20
Work hours per week = 40 hours
Hourly rate of pay =?
Monthly salary = 2 × $933.20 = $1866.40
Yearly pay = $1866.40 × 12 = $22396.8
Therefore, weekly pay ;
$22,396.80 / 52 = $430.7077
However, Sarah only works for 40 hours per week
Therefore, weekly pay equals;
$430.7077 / 40 = $10.7677
B) if gross pay = $1090.19
Therefore, amount of overtime paid equals:
$1090.19 - $933.20 = $156.99
If overtime pay is one-half regular pay, that is;
1.5 × $10.7677 = $16.152
Therefore, overtime hours equals
Total overtime paid / overtime pay rate
$156.99 / $ 16.152 = 9.719
9.72 hours
Marta is interviewing candidates for a position in the Human Resources department at her company. She is deciding who to interview by going through resumés and looking at the subject areas in which each candidate studied. Which four candidates would be the best choice for Marta to interview?
Ahmed, who studied mathematics and economics
Michelle, who studied psychology and physiology
Marisol, who studied communications and business
Jackson, who studied liberal arts and foreign languages
Answer: Michelle, who studied psychology and physiology
Explanation: Human resources is the area of a company that is responsible for organizing and maximizing the performance of human capital, that is, employees. Psychology is the science in charge of human behavior and to be able to enhance the skills of employees it is important to know their behaviors and the culture that is carried in the company, so Michelle would be the ideal candidate for the position.
Answer:
B: Michelle, who studied psychology and physiology
Explanation:
Modulation requires a change of key for a whole piece of music.
TRUE or FALSE
Answer:
TRUE! HOPE THIS HELPS! :)
Explanation:
Answer:
FALSE is the answer
Explanation:
identify ten entrepreneur and classify them under the types of entrepreneur
Answer: There are only five types of entrepenuer...
1. Skeptical entreprenuer: Sees the success of others and questions it.
2. Copycat entreprenuer: Sees the success of others and copys them exactly.
3. Research entrepreneur: They research every possible scenario and outcome for strategies to start or grow a business...
4. The determined entrepreneur: - hasn't made it yet- but will.
5. The accolmplished entrepreneur: Has gone through all types of entrepreneur and has built success from it.
Explanation: Hope this helps!
You purchased a call option for $3.45 17 days ago. The call has a strike price of $45, and the stock is now trading for $51. If you exercise the call today, what will be your holding-period return? If you do not exercise the call today and it expires, what will be your holding-period return?
Answer:
73.9%;-100%
Explanation:
1. Calculation to determine what will be your holding period return If you exercise the call today
First step is to determine the Forest profit
If the call is exercised
Gross profit =$51 - 45
Gross profit= $6
Second step is to calculate the Net profit
Net profit =$6 -$3.45
Net profit = $2.55.
Now let calculate The holding period return Holding period return=$2.55/$3.45
Holding period return = .739 *100
Holding period return=73.9%
Therefore If you exercise the call today, what will be your holding-period return will be 73.8%
2. Calculation to determine what will be your holding period return If you do not exercise the call today and it expires,
Holding period return= ($0 -$3.45)/$3.45
Holding period return=-$3.45/$3.45
Holding period return = -1.00*100
Holding period return= -100%
Therefore If you do not exercise the call today and it expires, what will be your holding period return will be -100%
Lipto Biomedical has credit sales of $740,000 yearly with credit terms of net 60 days, with an average collection period of 75 days. Lipto does not offer a discount for early payment.
A) What is the average receivables balance? What is the receivables turnover?
B) If Lipto offered a 3 percent discount for payment in 10 days and every customer took advantage of the new terms and paid on the tenth day, what would the new average receivables balance be? Use the full sales of $740,000 for your calculation of receivables.
C) If Lipto reduces its bank loans, which cost 8 percent, by the cash generated from reduced receivables, what will be the net gain or loss to the firm? Should it offer the discount?
D) Assume the new trade terms of 3/10, net 30 will increase sales by 12 percent because the discount makes Lipto price competitive. If Lipto earns 19 percent on sales before discounts, should it offer the discount?
A) What is the average receivables balance? What is the receivables turnover?The average receivables balance can be determined by the following formula:Avg Receivables = (Sales / 365) x (Avg Collection Period)Avg Receivables = ($740,000 / 365) x 75Avg Receivables = $151,781.51The receivables turnover ratio can be determined by dividing net credit sales by the average accounts receivable.
Turnover = (Sales) / (Avg Receivables)Turnover = $740,000 / $151,781.51Turnover = 4.87B) If Lipto offered a 3 percent discount for payment in 10 days and every customer took advantage of the new terms and paid on the tenth day, what would the new average receivables balance be? Use the full sales of $740,000 for your calculation of receivables.If customers take advantage of the discount, they will pay within 10 days instead of 60 days.
The calculation for the new average receivables balance is as follows:New Avg Receivables = [(0.97 x $740,000 x 10/365) + (0.03 x $740,000 x 55/365)]New Avg Receivables = $136,356.16C) If Lipto reduces its bank loans, which cost 8 percent, by the cash generated from reduced receivables, what will be the net gain or loss to the firm? Should it offer the discount?The amount of cash that will be generated from reduced receivables is:Cash generated from discount = $151,781.51 - $136,356.16Cash generated from discount = $15,425.35The cost of the bank loan can be computed as:Bank loan cost = ($151,781.51 x 0.08)Bank loan cost = $12,142.52Net gain or loss from offering the discount is therefore:Net gain or loss = Cash generated from discount - Bank loan costNet gain or loss = $15,425.35 - $12,142.52Net gain or loss = $3,282.83Since Lipto would gain $3,282.83, it is recommended that they offer the discount.D) Assume the new trade terms of 3/10, net 30 will increase sales by 12 percent because the discount makes Lipto price competitive. If Lipto earns 19 percent on sales before discounts, should it offer the discount?Lipto’s current receivables turnover is 4.87 times per year, with an average collection period of 75 days. If the new trade terms are implemented, the average collection period would reduce to 20 days. The new receivables turnover ratio is:New Turnover = 365 / Avg Collection PeriodNew Turnover = 365 / 20New Turnover = 18.25With the new turnover ratio, Lipto’s sales would increase from $740,000 to $829,600 ($740,000 x 1.12). Their net gain from the new discount is therefore:Net Gain = $829,600 x 0.19 - ($829,600 x 0.97 x 0.03)Net Gain = $148,944 - $23,815.68Net Gain = $125,128.32Since Lipto will have a net gain of $125,128.32, it is recommended that they offer the discount.
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which of the following is most likely to need help if a tax professional
- salaried workers
- minimum wage workers
- college graduates
- self employed people
Tax is paid to the government, self-employed people are most likely to need help if a tax professional.
What is tax?Tax is a contribution to revenue that is generated by the state and it is levied by the government on workers' income and profits from individual's businesses.
It is a compulsory payment and it can be added to the cost of some goods and services.
Self-employed people mostly need help from tax professionals on how much is to be paid and where to be paid, tax are often deducted directly from salaries.
Therefore, self-employed people is most likely to need help if a tax professional.
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Most state and local income taxes are either... (insert big wrinkle response here).
A. Progressive or flat
B. Regressive or flat
C. Progressive or regressive
Answer:
Progressive or Flat
Explanation:
I'm pretty sure that is the answer but I am not 100% sure so if it is incorrect i am sorry hope it was helpful!!!
At the majority of state and local level, the income tax rates are usually a progressive or Flat rate.
What is an income tax?This is a form of taxation that is imposed on the income earned by the citizen of a local county, state, country etc
The progressive tax is used based on peoople ability to pay while the flat rate means a general rate for all level of earners.
Therefore, the Option A is correct.
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At the beginning of october, nc inc. Had a beginning balance in supplies of $650. During the month, the company purchased $800 of supplies on account. At the end of the month, the company counted up the remaining supplies and determined there was $300 left. What amount should be debited to supplies expense at the end of october?.
Cash service revenue = $2,000 Cash collected from accounts receivable should be debited to supplies expense at the end of October.
What are accounts receivable?Money owed to a business in the near future is represented by the asset account known as accounts receivable on the balance sheet. When a business permits a customer to pay for its products or services on credit, accounts receivable are generated.
Similar to accounts receivable, accounts payable tracks money that is owed as opposed to money that will be collected. The ratio of accounts receivable to sales outstanding or days sales outstanding can be used to determine how strong an organization's AR is.
To determine when the AR will actually be received, a turnover ratio study might be performed.
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2. Davidson describes two fundamentally different economic philosophies that both impact the debt crisis that the US faces. What are these philosophies? Do you agree with one more than the other?
Answer:
Davidson describes two philosophies that are represented each by the Republican Party and by the Democratic Party.
Republicans believe, according to Davidson, that the economy works best when the state keeps its hands off it. Republicans view a free market economy without government intervention as essentially a perfect machine that can coordinate the interests of vastly different goups of people (this is the concept of the invisible hand, developed by Adam Smith).
The Democrats, on the other hand, while seeing Capitalism as the most efficient economic system, believe that the capitalist economy needs to be regulated by the state, because otherwise, a free market generates undesirable effects like externalities and economic inequality.
According to Davidson, the republicans and the democrats as philosophies are two fundamentally different economic philosophies that impact the debt crisis facing the US. I agree more with the republican side of things, life can't always come with an aim of everything being "equal" and "fair".
Suzie pays her insurance company every month for coverage for her car. This payment is called the ___. deductible premium contribution liability
Answer:
premium
Explanation:
Premium is the term given to the regular and periodic payments that the insured makes to the insurance companies. Premiums are the payments for the insurance coverage.
Insurance coverage is a contract between the insurance company and the customer. As per the contract agreement, the company provides insurance coverage, and the customer pays premiums. In other words, Premium is the consideration for the insurance coverage.
What are wholesalers
Answer:
Wholesaler is a company that earns money by buying large quantities of goods then selling in bulk to smaller businesses.
Hope this help :)
Answer:
Wholesalers are companies or businesses that buy large quantities of products from other companies, then resell the products in bulk or individually.
Explanation:
Examples; Costco Wholesale & Sam's Club
Choose a product category (eg, automobiles, media, grocery stores, clothing, mobile devices, theme parks, cereals, etc.).
Choose three different market segments from the attached list (descriptions on back).
CONVIENCE DRIVERS CONSUMERS, BUDGET CONSCIOUS SHOPPERS, FOCUS ON QUALITY, ATTRACTED TO STRONG BRANDS, ENVIROMENTAL AWARE, FAMILY FOCUSED, HEALTH AND DIET CONSCIOUS, SERVICE/RELATIONSHIP FOCUS, FLEXIBILITY IS IMPORTANT, SOCIAL STATUS, VARIETY SNEAKERS, BENEFIT SNEAKERS, JUST FOR ME, EXISTING COSTUMERS,
Discuss the consumer segments and how the consumers probably make purchase decisions in the product category that you have also chosen. (Consider their main needs, are they light or heavy users, what retailers they use, their likely demographics, are they brand loyal or switchers, what media do they consume, are they price sensitive, which brands are they most attracted to, and so on.)
What type of target marketing strategy (Undifferentiated, Concentrated, Multisegment) do you think a market manager for your product category would use for the segments you have chosen? For your product category, find (or create) examples of the target marketing strategy used. (For example, a compact car company might have different amenities in different models, or ads might be different based on the target market.)
Choose three (3) different TV, print or social media campaigns; provide a link, image or citation for each ad you choose. Try to determine which market segments were targeted. In 2-4 sentences discuss the overall effectiveness of the ad in its ability to convince consumers, and specifically the target market, to buy its products. Your answers might be formatted like this:
In the automobile industry, I have chosen the following three consumer segments: Convenience Drivers Consumers, Budget Conscious Shoppers, and Focus on Quality.
1. Convenience Drivers Consumers:
These consumers prioritize convenience and value time.
They are likely to be light users, primarily looking for a reliable mode of transportation.
Convenience Drivers Consumers may be more price-sensitive and prefer retailers that offer convenient services such as online car shopping, home delivery, and maintenance services.
They may be attracted to well-known brands, but not necessarily loyal to a specific brand.
They are likely to consume media through online platforms and social media, and they might be influenced by online reviews and recommendations.
2. Budget Conscious Shoppers:
Budget Conscious Shoppers prioritize affordability and cost-saving.
They are price-sensitive and look for deals and discounts.
These consumers are likely to be heavy users who are primarily concerned with meeting their basic transportation needs.
They might prefer retailers that offer lower-priced options and financing options.
They may not be brand loyal and are open to switching brands if they find a better deal.
They might consume media through television, newspapers, and online platforms that offer discounts and promotions.
3. Focus on Quality:
Consumers in this segment prioritize the quality and reliability of the automobile.
They are likely to be heavy users who use their vehicles for various purposes such as commuting, family outings, and long trips.
They are willing to invest more in a reliable and durable car.
These consumers may prefer retailers that provide a wide range of high-quality options and excellent customer service.
They are more likely to be brand loyal and attracted to strong brands known for their quality and performance. They might consume media through television, magazines, and online platforms that provide in-depth reviews and comparisons.
For the automobile industry, a market manager might use a multi-segment target marketing strategy.
This strategy involves targeting different segments with different marketing approaches to effectively meet the needs and preferences of each segment.
The market manager can customize the product offerings, marketing messages, and distribution channels to cater to the specific requirements of Convenience Drivers Consumers, Budget Conscious Shoppers, and Focus on Quality consumers.
Example 1: Toyota's marketing strategy showcases different models and features, targeting both convenience-oriented consumers with their hybrid models and budget-conscious shoppers with their affordable compact cars.
Example 2: BMW's marketing strategy focuses on quality and performance, targeting consumers who prioritize luxury and driving experience. Their ads emphasize the superior engineering and craftsmanship of their vehicles.
Example 3: Hyundai's marketing strategy includes ads that highlight their range of vehicles, targeting various consumer segments. They have campaigns that promote their affordable models for budget-conscious shoppers and campaigns that emphasize safety and reliability for consumers who focus on quality.
These examples demonstrate how companies in the automobile industry use different marketing strategies to target specific consumer segments, effectively addressing their needs and preferences.
Overall, the effectiveness of an ad in convincing consumers to buy its products depends on how well it resonates with the target market.
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