Producing and selling shoes directly to customers is the business of Jim's shoe firm. The channel length can be characterized as in this case. CONCEPTUAL.
whenever a business sells a good for less than what it costs to make it?In order to eliminate competition and/or grow market share, a company engages in the practice of "selling below cost," which entails selling things for less than their cost of production or acquisition. Deep pockets or cross-subsidization using revenue from the sale of other products could be some of the reasons for this strategy.
What two categories of activity can be found in a business' operations?All the things a business does to consistently sell its goods and services are referred to as operating activities.
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1. From the given McDonald Prosperity case study, explain McDonald’s marketing strategy to increase the consumer attitude and respond to different cultural market segment (5 marks) 2. What other marketing strategy could McDonald introduce from the Chinese New Year Celebration? Please suggest and explain ONE strategy. (15 marks) 3. If McDonald to introduce the Prosperity Burger to western market such as the United State or European country(s), what would be the focus of their strategy – considering the demographic of the western market? Provide your point and justification. (10 marks).
Answer: the McDonald Prosperity Burger Strategy: Cultural Adaptation, Attitude towards brand and advertisement Culture is one of the main cause of consumer’s wants and behavior. Each cultures have subcultures such as nationalities, religion, racial group, geographic religions and so on. McDonald’s tried to localize their food menu by designing new product according to different cultures and understood consumer buying behaviour. McDonald’s carefully standardized food items according to local tradition and culture. For example, In middle east Arab countries, McDonald’s consumer can get McArabia (grilled halal chicken with Arabic spices and bread), New menu for Vegetarian in India as some people don’t consume meat, in addition to this they avoided beef as cow is sacred in Hinduism i.e majority religion in India, Shogun Burgers in Hong Kong (Teriyaki pork), McShawarmas in Israel (Kosher meat), Bubur Ayam McDs in Malaysia (chicken porridge), McPaltas in Chile (a burger with avocado paste), Bulgogi Burgers in South Korea (thinly sliced meat in bulgogi marinade). McDonald’s marketing and advertising strategy were different for different regions. Their advertisement reflected different culture, subculture, racial group and social class. Also, regular and repeated exposure of an advertisement brings about a familiarity and positive feeling about the brand. Another important element in culture that might have significant impact to marketing strategy is cultural celebration such as Chinese New Year celebration. McDonald has introduce product and advertisement in particular to the celebration.
Explanation:
Seller always prefer higher to lower prices. Do you agree or disagree? Explain your answer.
Answer:
No, buyers prefer low prices to high prices.
Explanation:
This is because every person aims at spending less money and gaining more goods.
When a route in a transportation problem is unacceptable, the corresponding variable can be removed from the LP formulation. True False
Answer:
True
Explanation:
2. Ernesto purchased a used car for $6800. He paid 64% sales tax. How much tax did he pay?
SELECT AN ORGANISATION OF YOUR CHIOCE.
1.1 SUMMARISE THE NATURE OF BUSINESS
1.2 SUMMARISE THE BUSINESS MODEL
1.3 WHAT ARE THE KEY BUSINESS DRIVERS
2.1 NATURE OF DECISION DESCRIBING WHAT DECISION NEEDED TO BE MADE AND WHY
2.2 SUMMARISE HOW WAS THE DECISION MADE
2.3 ANALYSE THE DECISION MADE AND DESCRIBE IF A QUALITATIVE OR QUANTITATIVE APPROACH WAS USED AND JUSTIFY YOUR RESPONSE
2.4CONFIRM WHY WAS THIS APPROACH TAKEN BY THE BUSINESS AND APPRAISE THIS APPROACH FROM RISK MODELLING PERSPECTIVE
3.1 USING THE SELECTED BUSINESS DECISION FROM ABOVE, IDENTIFY AT LEAST 5 RISKS THAT NEEDED TO BE CONSIDERED TO MAKE THE SAME
3.2 USING THE RISK REGISTER IN THE PREVIOUS SECTION, CONDUCT A QUALITATIVE RISK ANALYSIS FOR THESE 5 RISKS BY PROPOSING THE PROBABILITY OF OCCURRENCE AND IMPACT FOR EACH RISK
3.3 USING A MATRIX INCLUDED IN APPENDIX A, PLOT THE RISKS ON A HEAT MAP AND EXPLAIN WHAT THE MAP MEANS
4.1 USING THE REGISTER DERIVED IN QUESTION 3.1, CALCULATE THE AVERAGE IMPACT (EXPECTED MONETARY VALUE) USING AGGREGATION OF STATIC VALUES
4.2 SUMMARISE WHAT DOES THIS AVERAGE IMPACT VALUE MEANS FOR THE ORGANISATION
5.1 USING THE REGISTER FROM 3.1, CALCULATE THE 5 POSSIBLE EXPECTED MONETORY VALUES USING THE AGGREGATION OF THE RISK DRIVEN OCCURRENCES METHODOLOGY
5.2 DESCRIBE THE RESULT OF THIS METHODOLOGY USING AN APPROPRIATE DIAGRAM
5.3 SUMMARISE WHAT DOES THIS AVERAGE IMPACT VALUE MEANS FOR THE ORGANISATION
An organization that will be analyzed in this context is Coca-Cola.1.1 Summary of the nature of the business:Coca-Cola is one of the most well-known beverage manufacturers in the world. They create fizzy drinks, juices, and water for a variety of markets.
Their drink portfolio includes more than 200 brands sold in over 200 countries.1.2 Summary of the business model:Coca-Cola Company follows a business model based on creating strong brands that generate significant customer demand.
Their main goal is to build and enhance brand equity. They engage in extensive advertising and promotion campaigns to attract more consumers.1.3 What are the key business drivers:Coca-Cola's essential business drivers are its brand, extensive distribution network, market reach, product innovation, customer satisfaction, and product differentiation.2.1 Nature of decision describing what decision needed to be made and why:The business decision that was taken by Coca-Cola was regarding the selection of the right marketing mix, which is a critical decision.
This allowed them to gain valuable insights into how the consumers perceive their products, which they could use to develop targeted marketing strategies. From a risk modeling perspective, the approach is beneficial because it allows the company to minimize the risks by identifying the issues that consumers may face with their products.3.1 Using the selected business decision from above, identify at least 5 risks that needed to be considered to make the same:1. Competition from other beverage manufacturers2. Consumer preferences and behavior3. Changes in market trends4. Fluctuating economic conditions
5. Changing health and safety regulations3.2 Using the risk register in the previous section, conduct a qualitative risk analysis for these 5 risks by proposing the probability of occurrence and impact for each risk:The following table shows the qualitative risk analysis for the five risks that were identified:RiskProbabilityImpactCompetitionMediumHighConsumer preferences and behaviorHighHighChanges in market trendsLowHighFluctuating economic conditionsHighMediumChanging health and safety regulationsLowMedium3.3 Using a matrix included in Appendix A, plot the risks on a heat map and explain what the map means:The risks were plotted on a heat map, as shown below:The heat map shows that the competition and consumer preferences risks have a higher probability of occurrence and impact, while the changes in market trends and health and safety regulations have a lower probability of occurrence and impact.4.1 Using the register derived in question 3.1, calculate the average impact (expected monetary value) using aggregation of static values:
The five possible expected monetary values are calculated by multiplying the probability of each risk and the range of possible impacts.RiskProbabilityImpactRange of possible impactsExpected Monetary ValueCompetitionMedium$2,000,000-$4,000,000$1,200,000Consumer preferences and behaviorHigh$3,000,000-$5,000,000$3,000,000Changes in market trendsLow$1,000,000-$3,000,000$300,000Fluctuating economic conditionsHigh$1,000,000-$2,000,000$1,200,000Changing health and safety regulationsLow$500,000-$1,000,000$50,000Total Expected Monetary Value$5,750,0005.2 Describe the result of this methodology using an appropriate diagram:The following diagram shows the possible expected monetary values for the five risks:5.3 Summarize what does this average impact value mean for the organization:
The average impact value means that the Coca-Cola Company could potentially lose an estimated $5,750,000 due to the five risks that were identified. This value represents the range of possible impacts that the company may face, given the probability of occurrence of each risk. The company can use this information to identify the risk mitigation strategies that are required to minimize the impact of these risks.
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"Suppose an economy has only two sectors: Goods and Services. Each year, Goods sells 75% of its outputs to Services and keeps the rest, while Services sells 63% of its output to Goods and retains the rest. Find equilibrium prices for the annual outputs of the Goods and Services sectors that make each sector's income match its expenditures."
Answer:
Fiancee throught back hand transactions
Explanation:
Two real estate companies, Century 21 and RE/MAX, compete with one another in a local market. The manager of the Century 21 office would like to advertise that homes listed with RE/MAX average more than 10 days on the market when compared to homes listed with his company. The following data shows the sample size and average number of days on the market
for the two companies along with the population standard deviations.
Sample mean
Sample size
Population standard deviation
Century 21
122 davs
36
32 davs
REMMAX
144 davs
30
35 davs If Population 1 is defined as RE/MAX and Population 2 is defined as Century 21, and using a =
0.10, the critical value for this hypothesis test would be
A) 1.28
B) 1.645
C) 1.96
D) 2.33
For this hypothesis test, the critical value would be 1.28.
Early types of hypothesis testing were utilised in the 1700s, while the practise gained popularity in the early 20th century. In order to analyze the human sex ratio at birth, Pierre-Simon Laplace (1770s) is credited with using the method initially, followed by John Arbuthnot (1710).
While Jerzy Neyman and Egon Pearson (the father of Karl Pearson) invented the hypothesis test, Ronald Fisher ("null hypothesis," "analysis of variance," "significance test"), William Sealy Gosset ("Student's t-distribution"), and Karl Pearson ("p-value," "Pearson's chi-squared test," and "significance test") are largely credited with the invention of modern significance testing.
Initially a Bayesian in statistics (Zabell 1992), Ronald Fisher soon became weary of the subjectivity involved and set out to create a more "objective" approach to inductive reasoning.
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According to the Moral Choices textbook, Christian ethics blends both virtues and moral principles.
Christian ethics combines both principles and virtues. The Euthyphro paradox argues against God serving as the basis for morality. The basic normative framework of ethics presented in the Bible is comprised of the attributes of God's character and the instructions that flow from them.
What is virtue ethics and Christian ethics?
According to Christian virtue ethics, every Believer's primary purpose (telos) is to imitate Christ and so bring God honour via our sanctification. The ultimate goal of those who are not Christians is to glorify God.
One may contend, for instance, that although murdering is morally wrong, it is OK to kill one person if it means saving five others. Rather than using verbal logic, instinctive, emotive responses frequently guide moral judgements and decisions.
Theoretical ethics and applied ethics are the two primary subfields of ethical investigation. Understanding the nature of ethics, ethical language, and ethical reasoning are important topics in theoretical ethics.
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Which document must a developer of more than 20 new residential condo units give to prospective buyers?
Answer:
a Prospectus
Explanation:
The Prospectus is the name of the document that is required to be issued out by a developer when there are 20 new residential condo units up for sales.
This document contains information written in the condominium documents, and after it has been filled, it is usually submitted to the Division of Florida Condominiums, Timeshares, and Mobile Homes.
What is one cost of avoiding insurance?
Answer: One of the costs of not having insurance is the cost of repairing. Another cost is paying insurance premiums. Losses caused by a lack of insurance are the price of not having insurance.
Answer:
falling into debt if faced with a serious problem
Explanation:
Revise the following paragraph by incorporating a bulleted list. This information is to let you know that a high-powered MBA program costs hundreds of dollars an hour. However, our program covers the same information. That information includes entrepreneurship tips as well as how to start a business. You will also learn information about writing a business plan and understanding taxes. In addition, our MBA program covers how to go about writing a marketing feasibility study. Another important topic that our program covers is employment benefits plans.
Answer:
Revision of Paragraph to Incorporate a Bulleted List
A high-powered MBA program costs hundreds of dollars an hour. However, our program covers the same information. That information includes the following:
O entrepreneurship tips as well as how to start a business,
O writing a business plan and understanding taxes,
O writing a marketing feasibility study, and
O employment benefits plans.
Explanation:
To correctly understand a bulleted list, it is important to differentiate it from a numbered list. Each bulleted paragraph is started with a symbol without the use of a number. This means that the list is not ordered in any particular order. On the other hand, a numbered list has a sequential or ordered number for each paragraph list.
An increase in income is always possible with out increasing expenses.
O True
False
An implied power is one that:
A: is clearly outlined in the Constitution.
B: gives the Supreme Court power to revise the Constitution.
C: overrules the wording of the Constitution.
D: is suggested by the Constitution, but not specifically stated.
Answer:
Option D
Explanation:
Implied powers are powers that aren't exactly stated in the Constitution but are assumed because of other powers that are similar in ways of the following are stated in the constitution. Which means your answer is option D or "is suggested by the Constitution, but not specifically stated." One of the most common examples of an implied power, is the government's ability to collect taxes. Although not specifically stated in the Constitution is it easy to assume speaking how the government has the power to start war, and war isn't cheap you need funds.
Hope this helps.
An implied power is suggested by the Constitution, but not specifically stated. The correct option is d.
A constitution is the collection of fundamental principles and established precedents that serve as the legal foundation of a polity, organisation, or other form of body and typically dictate how that entity is to be governed. When these ideas are enshrined in a single document or group of legal papers, the documents are said to embody a written constitution; when they are enshrined in a single complete document, the document is said to embody a constitution that has been The United Kingdom's Constitution is an example of an uncodified constitution; it is written in various basic Acts of a legislature, court cases, or treaties.
Constitutions apply to various levels of organisations, ranging from sovereign countries to corporations and unincorporated societies.
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One of Shanice's team members is not happy with their performance review and refuses to accept the rating she gave. What should Shanice do?
Shanice should aim to resolve the issue through open communication, active listening, and a willingness to address the team member's concerns.
Listen and understand: Shanice should create an open and safe space for the team member to express their concerns. She should actively listen and seek to understand their perspective. This demonstrates empathy and shows that she values their input.
Provide clarity: Shanice should provide a clear explanation of the performance review process, including the criteria used to evaluate performance and the specific examples that led to the assigned rating. This can help address any misunderstandings or misconceptions.
Address concerns and offer feedback: Shanice should address the team member's specific concerns and provide constructive feedback. She can highlight areas for improvement and offer guidance on how to enhance performance. It's important for Shanice to focus on specific behaviors and outcomes rather than personal attacks or generalizations.
Seek input and involve the team member: Shanice can ask the team member for their suggestions on how to improve their performance or address their concerns. Involving them in the process can foster a sense of ownership and encourage collaboration.
Consider a reevaluation: If Shanice believes there may have been an oversight or if the team member presents compelling evidence, she can consider a reevaluation of the performance review. This may involve gathering additional feedback or revisiting the evaluation criteria.
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⦁ Give me an example of how you have demonstrated safe work practices.
An example of safe work practices is cleaning and maintaining equipment and tools.
Safe work procedures are instructions on how to execute work in a safe manner and are essential for all hazardous jobs performed at your business. They identify dangers and explain what has to be done to remove or reduce risks.
Cleaning and maintaining equipment and tools properly can help to avoid accidents and injuries, as well as costly repairs. One method is to keep a cleaning and maintenance routine. Make a record of all equipment in use, noting important areas that require inspection.
Therefore, maintenance of equipment is how we can demonstrate safe work practices.
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Equipment and tool maintenance and cleaning are two examples of safe work practices.
All hazardous operations carried out at your company must follow safe work procedures, which are guidelines for how to carry out work in a safe manner. They point out risks and describe what has to be done to eliminate or lessen them.
Proper equipment and tool maintenance can reduce the risk of accidents, injuries, and expensive repairs. Maintaining a cleaning and maintenance schedule is one strategy. Make a list of all the equipment that is in use, noting any crucial locations that need inspection.
As a result, maintaining the equipment is how we can show safe working practices.
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Acording to leader member exchange. you must work to develop special relationship whit
Option (d), In accordance with leader-member exchange, you must put out effort to cultivate unique bonds with your followers. This leads to more productive team meetings if you do it.
How does the leader-member swap technique function?The Leader-Member Exchange Hypothesis first came to light in the 1970s. It looks at the interaction between management and the team. Team members frequently move through the three stages of role-taking, role-making, and routineization when interacting with their management.
How can leaders use the Leader-Member Exchange Theory to effectively manage their teams?As they have limited time and resources, leaders divide their subordinates into in- and out-groups to increase work-group productivity, according to the leader-member-exchange (LMX) theory of leadership (Dansereau, Graen, & Haga, 1975).
According to the leader-member exchange paradigm, what qualifies as the "out group"?Out-group: If a worker and their management don't trust one another, that manager typically sees the employee as being in the minority. The likelihood that these individuals may leave the team may increase as a result, and they may also experience lower job satisfaction and lower levels of motivation.
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The complete question is:
According to leader-member exchange, you must work to develop special relationships with your followers. If you do this, it results in which of the following?
an entire work group becoming an in-group
an entire work group becoming an out-group
increased job satisfaction
more effective team meetings
1. Read the following scenario and answer the question in 5-10 sentences. You are an expert in the field of advanced laser technology. You believe there is a profitable, though risky, commercial market opportunity for a new and more effective photonic crystal laser. The investment could result in a financial success, but could also result in no new innovations even after significant research costs. It requires a number of experts to coordinate in order to develop the new lasers. You invite eleven people that have never worked together to develop the new technology. You want to form a limited liability company in order to protect the interests of all participants. Evaluate the possible management structures and key terms of any operating agreement that should be considered in order to form an LLC.
The possible management structures and key terms of any operating agreement that must be considered to form an LLC are related to responsibility sharing, as an LLC is a type of entity owned by its partners.
Some features of the LLC are:
Less formality.Tax savings.Flexible management.Simple organizational structure.Therefore, the LLC is a single hybrid entity, more streamlined than a corporation, with the advantage that this proprietorship has limited liability protection.
Management is also more flexible, with decision-making being possible to be shared among its members, regardless of hierarchy.
It is also important to highlight the taxes, as in an LLC the taxation is simpler, with the losses and gains being reported in the tax returns, which helps to offset the income.
So this is a more streamlined and protected form of partnership that can be managed by a group of members more securely than a corporation.
It has less formal requirements to exist, and in case of bankruptcy or debt, there is greater protection for each member's personal property, as in an LLC the debts and obligations cannot be greater than the initial capital invested in the company.
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If an increase in the price of good x causes a decrease in the demand for good y, we can conclude that:_________
Answer:
the price of good Y will Increase and goods are complimentary
This is like highschool economics,
There should be quizlet flash cards for this
If an increase in the price of good x causes a decrease in the demand for good y, we can conclude that then, both X and Y goods are complementary goods.
What are substitute goods?Similar products that a client may employ for the same purpose are substitute goods. If the product they prefer is offered, your customers might buy it, but they might also look at alternatives if the price, the product's availability, or its quality changes. The demand for an item is frequently affected by these changes as well.
A complementary good or service is one that is utilized in conjunction with another good or service. Typically, the complimentary product has little to no value when ingested by itself. However, when combined with another good or service, it raises the bid's overall worth.
When two goods are complementary, a rise in the price of one good will result in a decline in the demand for the other good. The demand curve is also affected by the costs of related or replacement commodities.
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You just acquired 1,000 from the lottery.
You decide to invest in stocks with it (like a smart person should). You figure on buying apple stock which costs $100 a share. How many shares would you own of apple if you bought $1,000 worth of apple stock at $100 a share.
If you bought $1,000 worth of Apple stock at $100 per share, you would own 10 shares of Apple stock.
To determine the number of shares you would own of Apple stock if you bought $1,000 worth of stock at $100 per share, you need to divide the total investment amount by the price per share.
Number of shares = Total investment amount / Price per share
In this case, the total investment amount is $1,000 and the price per share is $100.
Number of shares = $1,000 / $100
= 10 shares
Therefore, if you bought $1,000 worth of Apple stock at $100 per share, you would own 10 shares of Apple stock.
It's important to note that stock prices fluctuate, so the actual number of shares you would own may vary depending on the current market price at the time of purchase. Additionally, transaction fees and other costs associated with buying stocks should also be taken into consideration.
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A taxpayer who claims a bad debt in the year the debt becomes worthless has how lomg to file an amended return
Answer: You must deduct a bad debt in the year it becomes worthless. If you realize you could have reported and taken a deduction for an unpaid debt years ago but didn't, you generally have only three years to amend your return in order to claim it on your tax return.
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At the end of a short-term program, how should an offer be presented to the client?
A. In-person
B. Via text
C. In a phone call
D. Via email
E. In a written letter
At the end of a short-term program, the offer should be made to the client in person. Option A
How to make the offerThe best way to present an offer at the end of a short-term program will depend on various factors, such as the nature of the program, the client's communication preferences, and the type of offer being made.
Option A (in-person) may be appropriate for a high-value offer that requires face-to-face interaction, such as a job offer or a business partnership. Option B (via text) is less formal but may be appropriate for a quick follow-up or reminder. Option C (in a phone call) can be a good option for building rapport and having a more personalized conversation. Option D (via email) is a common way to present offers and allows for easy documentation and tracking. Option E (in a written letter) may be suitable for more formal or ceremonial occasions, such as a scholarship award or a congratulatory message.
Overall, the best approach is to consider the client's communication preferences and the nature of the offer, and choose the most appropriate method accordingly.
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What is the main reason that people purchase insurance policies?
A. they want to reduce the cost of their student or personal loans.
B. They want to avoid paying for major unexpected expenses.
C. They want to avoid increasing their monthly premiums
D. They want to invest money in insurance to grow it over time
Option B is correct. The main reason that people purchase insurance policies is because they want to avoid paying for major unexpected expenses.
What is an insurance policies?An insurance policy can be defined a contract between the insurer and the policyholder which determines the claims which the insurer is legally required to pay. The policy is enforced in an exchange for an initial payment known as the premium in which the insurer promises to pay for loss caused by perils covered under the policy language.
Most of the insurance contracts are designed to meet specific needs and thus have many features not found in many other types of contracts. Because these insurance policies are standard forms, they often feature boilerplate language which is similar across a wide variety of different types of insurance policies.
Some examples of the popular insurance policies includes a Life Insurance, Health Insurance, Disability Insurance, Homeowner's Insurance, Automobile Insurance, Liability Insurance etc,
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The following table shows the cost function for a business producing beach chairs:
Quantity of
Beach Chairs Produced (Number) Total Cost (Dollars Marginal Cost (Dollars)
0 5
1 15
2 26
3 38
4 51
5 65
a) Fill in the column for marginal cost. Instructions: Round your answers to the nearest whole number. If you are entering a negative number, include a negative sign (−) where appropriate.
b) If the market price is $11 per chair, the business will produce how many chairs? What is the total profit of the business at that price?
c) If the market price is $12 per chair, the business will produce how many chairs? What is the total profit of the business at that price? .
The marginal cost will be:
Beach Chairs Produced (Number) Total Cost
(Dollars) Marginal Cost (Dollars)
0 5 -
1 15 10
2 26 11
3 38 12
4 51 13
5 65 14
How to calculate the values2. At the market price of $11 per chair, the total quantity of 2 chairs will be produced by the producers.
At this price the Total cost of producing 2 Chairs is = $26
Whereas the Total revenue generated is = (p*q) $11 *2=22.
Total profit= TR- TC
Total profit= 22-26=-4( profits are falling as TC >TR)
3. Total profit at price $12 is :- -2(losses)
At the market price of $12 per chair, the total quantity of 3 chairs will be produced by the producers.
At this price the Total cost of producing 2 Chairs is = $38
Whereas the Total revenue generated is = (p*q) $12*3=36.
Total profit= TR- TC
Total profit= 38-36=-2(loss)
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Vanya inc. charter authorizes 1000 shares of stock at a stated value of $1 per share. Vanya sells 50 shares of stock at its initial offering for $10 [er share. The journal entry to record this transaction?
Credit for Paid-In Capital, in Surplus of Stated Worth for $450, $50 toward Common Stock, and $500 toward Cash.
Why do you use the term "Common Stock"?A form of business equity and a kind of security is common stock. Within the borders of the United States, the words vote share and common share are widely used. In the UK as well as other Commonwealth nations, they are referred to as share capital or ordinary shares. A investor holds 1% of the company if they hold shares of a company of the ordinary stock. This investor will receive $100 (1,000 units X $0.10) in dividends if the company declares a $0.10 per share dividend.
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Rick owns and operates a small farm that produces vegetables and fruits. His friend Owen owns and operates a butcher shop that sells various kinds of
meat. Rick often gives Owen vegetables and fruits in exchange for meat, and vice versa. This scenario best describes
Because Rick often gives Owen vegetables and fruits in exchange for meat, and vice versa, this scenario best describes a trade by barter.
What is a trade by barter?A trade by barter refers to direct exchange of goods or services without an intervening medium of exchange or money either according to established rates of exchange or by bargaining.
A trade by barter is common among traditional societies, most particularly in those communities with some developed form of market. Product can be bartered within a group as well as between groups, although gift exchange probably accounts for most intragroup trade, particularly in small and relatively simple societies.
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Understand and explain the process of idea generation and validation
Answer:
Idea generation is the creative process or procedure that a company uses in order to figure out solutions to any number of difficult challenges. It involves coming up with many ideas in a group discussion, selecting the best idea or ideas, working to create a plan to implement the idea, and then actually taking that idea and putting it into practice. The idea can be tangible, something you can touch or see, or intangible, something symbolic or cultural.
Idea validation is the process of testing and validating your idea prior to launching your business name, tagline, product, service or website. This is like the research and development process big companies use to test product ideas before they’re released to the general public.
Idea validation can involve anything from information-gathering interviews to special landing pages on the web. The entire purpose is to expose the idea to your target audience before you build and release the final product.
Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) Tastee Restaurant accepted a Visa card in payment of a $200 lunch bill. The bank charges a 3% fee. What entry should Tastee make
Answer: See explanation
Explanation:
First, we need to calculate the service charge expense which will be:
= 3% × $200
= 0.03 × $200.
= $6
Therefore, the entry that Tastee should make will be:
Debit: Cash $194
Debit: Service charge expense $6
Credit: Sales revenue $200
is a place where two parties can gather to facilitate the exchange of products
A marketplace is a physical or virtual place where two parties can gather to facilitate the exchange of goods or services. It is a space where vendors or merchants come together to sell their wares, and consumers come to buy what they need. A marketplace can be found in many forms and has evolved over time to keep up with the changing nature of trade and commerce.
Traditional marketplaces are physical locations where people gather to sell goods. They have been around since ancient times and continue to exist in many parts of the world. These marketplaces are usually located in urban areas, and vendors set up their stalls or shops to sell their wares.
They may sell food, clothing, handmade crafts, or other products. People come to these marketplaces to buy what they need, socialize, and enjoy the atmosphere.Virtual marketplaces, on the other hand, are online platforms where people can buy and sell products.
These marketplaces are accessible from anywhere with an internet connection and have become increasingly popular in recent years. Popular examples of virtual marketplaces include Amazon, eBay, and Etsy.
These platforms allow vendors to reach a broader audience and sell their products worldwide.In conclusion, marketplaces are crucial for facilitating the exchange of goods and services. They have been around for centuries, and their evolution has resulted in various forms, including traditional and virtual marketplaces.
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Suzy works for a company that markets timeshare condos on beach resorts in Mexico. Her job is to phone consumers and invite them to a free weekend at one of her employer's beach resorts. The only catch is that visitors are obliged to take a tour and listen to a presentation about investing in a timeshare. Which orientation is Suzy's company exhibiting?
Answer:
Sales orientation
Explanation:
Sales Orientation is a business approach of making profits by focusing on persuasion of people to buy the products instead of understanding the customer needs
Write down three key takeaways from the home-buying process in the space below.
The three takes aways from the home-buying process are, before going house searching,
research the housing market and be pre-approved for a mortgage.Engage the services of a competent real estate agent to walk you through the process and bargain on your behalf.Before closing, do a comprehensive house inspection to discover any potential concerns or needed repairs.What is the Home-Buying Process?Purchasing a house entails locating a suitable property, obtaining financing, making an offer, obtaining a home inspection, and finalizing the transaction.
If you can't afford a large down payment, national and state first-time buyer programs may be helpful. It's critical to maintain your property and save money once you've moved in.
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