Renata granted the right to use this additive to a major hair color manufacturer, and now receives a $1.00 royalty and it is an example of licensing.
What is licensing?A business relationship whereby one firm permits another company, in exchange for a set fee, to manufacture its product is licensing. Leasing out your intellectual property, such as your patents, trademarks, copyrights, designs, and other properties, to third parties, is one of the fastest and most lucrative methods to expand your company.
A license agreement is a contract that enables the use of the intellectual property (IP) owned by one party by another party. When the other party (the licensee) uses the IP, the party who owns the IP (the licensor) is compensated (by way of a royalty). The types of IP that are licensed under licensing agreements can be categorized. Permission to work in a specific field is granted by licensing.
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A Purchasing Specialist is sometimes referred to as what? Select all that apply *
Purchasing Agent
Purchasing Manager
Procurement Manager
Buyer
\(\text{Hello there!}\)
A Purchasing Specialist is sometimes referred as a \(\bold{Procurement Manager.}\)
This is because they're responsible for purchasing/procuring supplies.
They relatively have the same roles, however, occasionally referred to by different names.
\(\text{The job of the}\) \(\bold{Purchasing\;Manager}\) \(\text{\;is to purchase supplies for the company.}\)
\(\text{For example, purchasing lettuce for a}\) \(\bold{fast\;food\;restaurant.}\)
\(\text{The job of the\;}\) \(\bold{Purchasing\;Agent}\) \(\text{is to buy supplies that the company needs.}\)
\(\text{The job of the}\) \(\bold{Procurement\;Manager}\) \(\text{has the same responsibilities as the}\)\(\bold{Purchasing\;Manager.}\)
Therefore, all of the possible referred answers are going to be correct.
The only differences are going to be the names.
\(\rule{300}{1.0}\)
Which pricing objective is associated with the phrase "charging what the market will bear"?a.volume-orientedb.profit-orientedc.cash flowd.market demande.status quo
The pricing objective associated with the phrase "charging what the market will bear" is "market demand" pricing.
Hence, the correct option is d.
Market demand pricing is a pricing strategy that sets prices based on the level of demand for a product or service. The goal of market demand pricing is to set a price that maximizes revenue by charging the highest price that customers are willing to pay for a product or service. In other words, the price is set based on what the market will bear or what customers are willing to pay.
Other pricing objectives include volume-oriented pricing, profit-oriented pricing, cash flow pricing, and status quo pricing. Volume-oriented pricing focuses on maximizing sales volume, while profit-oriented pricing aims to maximize profits. Cash flow pricing focuses on generating enough cash flow to cover expenses and invest in the business, while status quo pricing maintains the current price without making any changes.
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in order to assess the performance of their firms and their supply chains, what do managers need to do to determine the needs of those customers?
a. Look at each segment of the markets they serve
b. Help identify new customer requirements
c. Rely on traditional performance measures
d. Collaborate in pricing of products
The correct option to the given question about assess the performance of their supply chains is option a) . Take a look at each market category they serve.
A corporation can generally use one of six major models to direct its supply chain management procedures.
The continuous flow model, one of the more established supply chain strategies, works best for developed sectors. The continuous flow model assumes that a producer will consistently produce the same good and that customer demand will be relatively stable. Agile Strategy: This model works best for businesses that provide products that customers order or have unexpected demand. This model places a premium on adaptability because a business must be ready to change course at any time in the event of a specific requirement.
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which of the following policies combines investment choices with a form of term coverage
Variable life insurance policy is the type of policy that combines investment choices with a form of term coverage.
Variable life insurance is a type of permanent life insurance that offers both a death benefit and an investment feature. As a policyholder, you have the option to invest a portion of your premiums into various investment options like stocks, bonds, and mutual funds. The performance of these investments will impact the cash value of your policy.If your investments do well, the cash value of your policy will increase and you can use that money to pay premiums, take out a loan, or withdraw cash from your policy.
If your investments perform poorly, the cash value of your policy could decrease or even run out altogether.Variable life insurance policies usually have a fixed premium that must be paid in order to keep the policy in force. A portion of that premium goes toward the cost of insurance, while the rest is invested. The amount of coverage you receive will depend on how much you've invested and the performance of those investments.Variable life insurance policies offer more flexibility and investment options than traditional whole life insurance policies.
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7. Another example of opportunity cost is a company's cost of capital. Suppose a manufacturer wants to add
microwave ovens to its product line. To do this, it must invest $500,000 in new equipment.
Besides the original investment, the company estimates it would spend $200,000 per year on production
costs for labor and materials. It also estimates that it could sell about $225,000 worth of microwave ovens
each year. Would it benefit the company to manufacture the microwave ovens if it could earn 10 percent
interest by purchasing U.S. Treasury bonds with the $500,000? Explain your answer.
Answer:
You should invest in US bonds because you will be able to earn a higher return than if you build and sell microwaves.
Explanation:
alternative 1, build and sell microwave ovens:
initial outlay = $500,000
net cash flow per year = $225,000 - $200,000 = $25,000
alternative 2, invest in US securities:
investment = $500,000
net cash flow per year = $500,000 x 10% = $50,000
Opportunity costs are the benefits lost or extra costs resulting from choosing one activity or investment over another.
If you choose to build and sell microwaves, you will not be able to invest in bonds, and therefore, your net income will decrease by $25,000 - $50,000 = -$25,000.
Instead, if you invest in bonds and not microwaves, your net income will increase by $50,000 - $25,000 = $25,000.
You should invest in US bonds because you will be able to earn a higher return than if you build and sell microwaves.
The calculation is as follows:alternative 1, build and sell microwave ovens:
initial outlay = $500,000
So,
net cash flow per year = $225,000 - $200,000 = $25,000
now
alternative 2, invest in US securities:
investment = $500,000
net cash flow per year = $500,000 x 10% = $50,000
In the case when you choose to build and sell microwaves, you will not be able to invest in bonds, and therefore, your net income will decrease by $25,000 - $50,000
= -$25,000.
Now
Instead, if you invest in bonds and not microwaves, your net income will increase by $50,000 - $25,000
= $25,000.
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Imagine that you work for a large, global company that builds power plants for electricity. This industry has a long-term perspective and requires stable, reliable countries in order to make Foreign Direct Investments. You are assigned to evaluate the following countries for a long-term investment: South Africa, Nigeria, Algeria, or Kenya. Recall what you have learned in this chapter about political and legal factors and political ideologies, as well as earlier discussions about global business ethics and bribery. Provide and support your evaluation of each country and provide your recommendations to senior management.
In addition, countries with a large and growing economy, such as Algeria and Kenya, may offer attractive investment opportunities. However, investments in these countries should be carefully evaluated to ensure that they align with the company's long-term goals and values.
South Africa: South Africa is a politically stable country with a well-established legal system. The country is a member of various international organizations, including the World Trade Organization, and has signed numerous trade agreements with other countries. However, South Africa has a high level of bribery and corruption, which can be a concern for foreign investors.
Nigeria: Nigeria is a politically stable country with a federal presidential system of government. However, the country has a history of political instability, and corruption remains a significant issue. Nigeria has a large and growing economy, and it offers significant investment opportunities in various sectors, including energy, mining, and agriculture.
Algeria: Algeria is a politically stable country with a presidential system of government. The country has a large and growing economy, and it offers significant investment opportunities in various sectors, including energy, infrastructure, and manufacturing. However, Algeria has a history of political instability, and corruption remains a significant issue.
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Imagine that you have been hired to create an ad campaign for a product. The client wants you to create three different taglines to persuade people to buy the product: one that appeals to authority, one that is based on a fallacy of presumption, and one based on argumentum ad populum. Briefly describe your product and provide the three taglines. (THIS IS CRITICAL THINKING!!)
The product is a new type of water filtration system for home use.
Tagline appealing to authority: "Endorsed by top water experts, our filtration system is the choice of professionals."
Tagline based on fallacy of presumption: "Upgrade to our filtration system and never worry about the quality of your water again."
Tagline based on argumentum ad populum: "Join the millions of satisfied customers who trust our filtration system for their home's water needs."
It's important to note that using fallacies and manipulation tactics in advertising is not ethical and can be misleading to the consumer. It's better to use truthful, clear and honest information to promote a product and its features and benefits.
Which of the following best defines goal?
a. aim or purpose
b. disregard or disrespect
c. freedom from doubt
d. influence
Choose a country other than the United States— maybe a country you would like to visit someday, or a country that speaks a language you have learned or that someone you know speaks.
Respond to the following:
1.Research the real GDP per capita of that country and compare it to the real GDP per capita of the United States.
2.Explain how the costs of production and the standard of living for residents of the two countries might be different based on the different values for real GDP per capita.
The comparison that would be made here is the Real GDP of the United States and that of Ni/geria per capita in the year 2021. The US has the real GDP per capita as 69,287.54 USD, while Ni/geria has theirs as 2,085.03 USD.
The cost of production is low in USA nd high in Ni/geria
The standard of living is high in USA and very low in Ni/geria
The standards of living in these nationsFrom the figure that we have here, even though the figure for Ni/geria is a bit exaggerated, I would say that the United States has been able to create a system where the people have a better standard of living by creating all of the means that businesses would thrive.
The cost of production in the USA would be lower and the standard of living would be high obviously.
In Nigeria, the cost of production id high and the standard of living is very low for the people
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a ______ company is one that does business in at least one country outside of its country of origin.
Answer:Multi national company
Explanation:
This blank can be filled with the Multinational company. A multinational company is commonly known as MNC. MNC operates the business in many different countries at the same time.
How globalization has affected the business of MNC?Globalization is a word that describes the interdependence of the world economy, culture, population, investment, technology, goods, and service.
Globalization boosts the business of MNC. There are fewer restrictions, tariffs, and government intervention in international trade. It increases production and motivates companies to set up the firm in less developed countries.
Therefore due to Globalization world economy become a local market.
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You want to write a press release about a free new app you're offering. The app allows people to keep track of what they've eaten each day and reports on nutritional value and calories. It also creates customized recommendations for improving your diet. By emphasizing the cost-free nature of this useful tool in the press release, you are primarily relying on which principle of persuasion?
The principle of reciprocity is being used when emphasizing the free nature of the useful tool in the press release, as this principle generates a reciprocal response to individuals.
What is the principle of reciprocity?It corresponds to an approach developed by Cialdini, who states that reciprocity is the first principle of persuasion, as individuals are conditioned to reciprocate favors and concessions to others.
Therefore, by using the principle of reciprocity, emphasizing the free nature of the new app, the company hopes to generate more attention, use and positive response from the target audience as a form of retribution.
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NEED HELP ASAP Select the correct answer.
In the following sentence, identify the sequence of the criteria based on SMART principles. Your choice of sequence should match the sequence of italicized phrases.
“Given my current skill set and educational qualifications, I wish to become an analyst with a leading credit rating firm in the next five to seven years.”
A-Time Bound, Specific, Realistic
B-Time Bound, Realistic, Specific
C-Specific, Realistic, Time Bound
D-Realistic, Specific, Time Bound
The correct sequence of the criteria based on SMART principles in the given sentence is:C - Specific, Realistic, Time Bound .Option C is correct.
SMART is an acronym that stands for Specific, Measurable, Achievable, Relevant, and Time-Bound. In the sentence provided, the italicized phrases are "analyst with a leading credit rating firm" (Specific), "given my current skill set and educational qualifications" (Realistic), and "in the next five to seven years" (Time-Bound).
Specific: The goal is clearly defined as becoming an analyst with a leading credit rating firm.Realistic: The goal is based on the person's current skill set and educational qualifications.Time Bound: The goal has a specified timeframe of five to seven years.Therefore, the correct sequence is C - Specific, Realistic, Time Bound.Option C is correct.
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Who carries the animal from the farm to the market or packer?
A. Producer
B. Proccessor
C. Transporter
D. Consumer
Answer:
was it a passage u had to read?
Explanation:
Answer:
Transporter
Explanation:
You are transferring the animal to the market from the farm.
PRIVATE ENTERPRISE IS RUN MAINLY TO?
Answer:
The private sector is the part of the economy that is run by individuals and companies for profit and is not state controlled. Therefore, it encompasses all for-profit businesses that are not owned or operated by the government
Explanation:
♀️
The difference between the salaries paid to movie stars and to actors who play supporting roles is much greater today than it was in the 1930s and 1940s. What factor explains this increase in relative salaries over time?.
Answer:
The increase in relative salaries between movie stars and supporting actors over time can be attributed to several factors, including changes in the entertainment industry, the rise of celebrity culture, and the growth of the global film market.
One major factor is the changing nature of the entertainment industry itself. In the early days of Hollywood, movie studios had much more control over the production process and the actors they employed. This meant that salaries were more tightly controlled and there was less room for individual negotiation or bargaining. However, as the industry evolved and became more competitive, actors gained more leverage and were able to demand higher salaries.
Another factor is the rise of celebrity culture, which has led to a greater emphasis on the star power of individual actors. Today, audiences are often drawn to films and shows based on the reputation and popularity of their lead actors, which has created a greater demand for big-name stars and driven up their salaries.
Finally, the growth of the global film market has also contributed to the increase in relative salaries for movie stars. As the film industry has expanded into new markets around the world, there has been a greater demand for high-profile actors who can help sell movies to international audiences. This has created a situation where a small number of elite stars can command very high salaries, while supporting actors may struggle to make a living.
Question 5 of 10
When gathering information, which of the following tasks might you need to
perform?
A. Apply standards, such as measures of quality, beauty, usefulness,
or ethics
B. Seek out ideas from others and share your own ideas
C. Study objects, conduct lijsts, research written materials, and ask
questions
D. Fill out forms, follow procedures, and apply math and science
SEN
Choose the preferred sentence from each pair and justify your choice. a. (1) Lindsay's request to telecommute was denied, but she will begin a flextime schedule in two weeks. (2) Although her request to telecommute was denied, Lindsay will begin a flextime schedule in two weeks.
Answer:
(2). Although her request to telecommute was denied, Lindsay will begin a flextime schedule in two weeks.
Explanation:
The second choice would be the most preferred as it conveys the idea in a formal and precise manner. The complex sentence beginning with the subordinate clause already hints the listener that the key message is yet to come. It helps him/her in understanding the intended message without any confusion. The first sentence fails to create that specificity as it connects two independent ideas which remove the listener's focus from the main idea i.e. 'she will begin a flextime schedule in two weeks.' Thus, option (2) adopts the correct format and sentence structure to deliver the message effectively, efficiently, and precisely.
On january 1, 2024, a company began construction of a new warehouse. the building was finished and ready for use on september 30, 2025. expenditures on the project were as follows: january 1, 2024 $ 323,000 september 1, 2024 $ 483,000 december 31, 2024 $ 483,000 march 31, 2025 $ 483,000 september 30, 2025 $ 323,000 the company had $6,100,000 in 15% bonds outstanding through both years. capitalized interest in 2024 was:
In this case, the capitalized interest for 2024 is $202,250. In the case of the aforementioned company, the total cost of the project was $2,235,000, with $323,000 of that amount due on January 1, 2024. The remaining balance of the project was financed by borrowing $6,100,000, which was the amount of bonds the company had in both years of excellent results.
The interest on the bonds was 15%, so the capitalized interest for 2024 is calculated by multiplying the total cost of the project by the annual interest rate and then dividing the result by the total number of days in the year. Capitalized interest is interest that is added to the cost of the project and is considered a capital expenditure rather than an expense. This is done when the company has borrowed to finance the project and the interest cost is part of the total cost of the project.
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One of the most important advantages of the sole proprietor form of ownership is that a business owner: Multiple choice question. does not need an attorney finds it easier to start and end the business does not need a tax accountant has many financing options
The most important advantages of the sole proprietor form of ownership is that a business owner finds it easier to start and end the business.
What is sole proprietor form of business?The sole proprietor is the form of business organization which is owned by a single person, who is responsible for the entire business operations. The amount of capital, profit, loss are all responsibility of the owner.
The biggest advantage of having a sole proprietorship form of business is that the owner is free to start and end the business without any paperwork or other legal documents.
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the nominal yield on 6-month t-bills is 4%, while default-free japanese bonds that mature in 6 months have a nominal rate of 3.5%. in the spot exchange market, 1 yen equals $0.008. if interest rate parity holds, what is the 6-month forward exchange rate? do not round intermediate calculations. round your answer to five decimal places.
The 6 - month forward exchange rate, given the nominal rate, and the spot exchange, will be 0.816 %
To find the forward exchange rate:
First, find the periodic nominal rate as the period is in months :
= Nominal rate / Number of periods per year
= 3 . 5 % / 2 periods per year
= 1 . 75%
The nominal yield on - Bills :
= 4 % / 2
= 2%
The forward exchange rate is:
= ( 1 + periodic nominal rate ) / ( 1 + nominal yield ) x Current spot exchange
= ( 1 + 0.002) / ( 1 + 0.0175) x 0.0008
= 0.00816
= 0.816 %
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a key characteristic of a competitive market is that
Answer:
There are many buyers and sellers in the market. Each company makes a similar product
(please give brainliest)
A key feature of a competitive market is the presence of numerous buyers and sellers, and each company produces a comparable product.
What is the competitive market?A perfect market, is also referred to as a competitive market, is defined in economics by several idealizing conditions, collectively known as perfect competition, or atomistic competition. It creates jobs and gives people a choice of employers and work environments.
A healthy market competition is critical to the functioning of the US economy. When firms compete for customers, it leads to lower prices, higher quality goods and services, greater variety, and more innovation.
Therefore, The presence of numerous buyers and sellers is a key feature of a competitive market, and each company produces a comparable product.
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ley company’s adjusted account balances from its general ledger on august 31, its fiscal year-end, follows. it categorizes the following accounts as selling expenses: sales salaries expense, rent expense—selling space, store supplies expense, and advertising expense. it categorizes the remaining expenses as general and administrative. adjusted account balances debit credit merchandise inventory (ending) $ 43,000 other (non-inventory) assets 172,000 total liabilities $ 49,665 common stock 82,659 retained earnings 57,883 dividends 8,000 sales 294,120 sales discounts 4,500 sales returns and allowances 19,412 cost of goods sold 113,298 sales salaries expense 40,294 rent expense—selling space 13,824 store supplies expense 3,529 advertising expense 25,000 office salaries expense 36,765 rent expense—office space 3,529 office supplies expense 1,176 totals $ 484,327 $ 484,327 beginning merchandise inventory was $34,701. supplementary records of merchandising activities for the year ended august 31 reveal the following itemized costs. invoice cost of merchandise purchases $ 126,420 purchases discounts received 2,655 purchases returns and allowances 6,068 costs of transportation-in 3,900
The adjusted account balances from Ley Company's general ledger on August 31, its fiscal year-end, are as follows:
- Merchandise inventory (ending): $43,000
- Other (non-inventory) assets: $172,000
- Total liabilities: $49,665
- Common stock: $82,659
- Retained earnings: $57,883
- Dividends: $8,000
- Sales: $294,120
- Sales discounts: $4,500
- Sales returns and allowances: $19,412
- Cost of goods sold: $113,298
- Sales salaries expense: $40,294
- Rent expense—selling space: $13,824
- Store supplies expense: $3,529
- Advertising expense: $25,000
- Office salaries expense: $36,765
- Rent expense—office space: $3,529
- Office supplies expense: $1,176
The beginning merchandise inventory was $34,701.
Based on the information provided, we can categorize the following accounts as selling expenses: sales salaries expense, rent expense—selling space, store supplies expense, and advertising expense. The remaining expenses can be categorized as general and administrative. Therefore, the net income for Ley Company for the year ended August 31 is $86,887.
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At a shop, hamburgers cost $0.83 each, fries are $0.74,
sodas are $1.45. Paul purchased two hamburgers, three fries, and four
sodas. How much money did he spend at the shop?
Burgers cost $0.83 each, fries $0.74, and sodas $1.45 at a restaurant. Paul bought four sodas, three fries, and two hamburgers. His total spending at the store was $9.68.
An illustration of total spendingThe total of the costs of several goods or services multiplied by the cost of each item bought.
As an illustration, consider a scenario in which a business that sells cars decides to charge USD 20,000 for a single vehicle. 200 cars are sold at a such price by the corporation in a specific period. For this example, the total expenditures would be 20 times USD 20,000, or USD 400,000.
Cost of 2 hamburgers= $0.83 X 2= $1.66
Cost of 3 fries= $0.74 X 3= $2.22
Cost of 4 sodas= $1.45 X 4= $5.8
Total money he spend= $1.66 + $2.22 + $5.8= $9.68
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in computing its predetermined overhead rate, stiles company inadvertently left its indirect labor costs out of the computation. this oversight will cause:
In computing its predetermined overhead rate, stiles company inadvertently left its indirect labor costs out of the computation. this oversight will cause the Cost of Goods Manufactured to be understated.
A cost associated with the creation of a good or service is called the overhead rate. Expenses like the price of the corporate headquarters are examples of overhead costs because they are not directly related to production. To distribute or assign overhead expenses depending on certain metrics, an overhead rate is applied to the direct costs associated with production. In order to more correctly gauge each product's profitability, an additional expense called an overhead rate is added to the direct costs of manufacturing. A mixture of many cost drivers may be utilized to approximation overhead costs in more complex situations.
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Question 9 of 10
A group of Congress members is contacted by members
of a committee who would like to submit a bill for a floor
debate. The group reviews the bill as well as the current
schedule of debates. After the review, the group decides
that the bill is not important enough to justify a debate.
The group refuses to schedule a debate, killing the bill.
Which congressional group is most likely described in the passage?
OA. The House Ways and Means Committee
OB. The House Rules Committee
OC. A conference committee
OD. The Committee of the whole
The House Rules Committee congressional group is most likely described in the passage. Thus, option B is correct.
What is congressional?Committees keep an eye on ongoing public administration, spot problems that warrant legislative scrutiny, collect and assess data, and suggest steps to take to Congress.
Every member of the Senate of Congress is a part of the body's subcommittee of its entirety. Every time the House decides to establish this committee, a particular issue needs to be discussed. Once the panel has finished its work, it no longer exists. In this case, the group's assignment was to analyze the bill and the argument timetable.
Therefore, option B is correct.
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Customer service levels can be improved by better:
A.
mission statements.
B.
control charting.
C.
short-term forecast accuracy.
D.
exponential smoothing.
E.
customer selection.
Customer service levels can be improved by better C) short-term forecast accuracy.
Short-term forecasting is the practise of making predictions about what will happen soon (we generally think of it as hour-by-hour) and then using that information to develop a strategy to fulfil those demands. Long-term projections are less reliable than short-term ones.
A longer forecasting horizon considerably raises the likelihood that future demand will be impacted by developments we are not now aware of. Any present or recent past conditions that serve as a foundation for or an improvement to the forecast may be included in the short term forecast. The level of detail in the short-term forecast will be determined by the availability of radar, satellite images, and other remote sensing tools.
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When you put a check you received in the bank, you have immediate access to the money.
True or False.
Answer:
this is true hope this helps
Explanation:
Sources of monopoly power A monopolist, unlike a competitive firm, has some market power. It can raise its price, within limits, without the quantity demanded falling to zero. The main way it retains its market power is through barriers to entry-that is, other companies cannot enter the market to create competition in that particular industry. Complete the following table by indicating which barrier to entry appropriately explains why a monopoly exists in each scenario. Barriers to Entry Exclusive Ownership of a key Resource Government- Created Monopolies Economies of Scale Scenario In the natural gas industry, low average total costs are obtained only through large-scale production. In other words, the initial cost of setting up all the necessary pipes and hoses makes it risky and, most likely, unprofitable for competitors to enter the market. O Throughout much of the 20th century, many people viewed South Africa's De Beers Group as a monopoly because it controlled a large percentage of diamond production and sales. O Patents are granted to inventors of a product or process for certain number of years. The reason for this is to encourage innovation in the economy. Without the existence of patents, it is argued, research and development for improved computer technology is unlikely to take place, since there's nothing preventing another firm from stealing the idea, copying the product, and producing it without incurring the development costs.
Sources of monopoly power can be attributed to barriers to entry, which prevent other companies from entering the market and creating competition.
There are three main types of barriers to entry: exclusive ownership of a key resource, government-created monopolies, and economies of scale.
In the natural gas industry, a monopoly exists due to economies of scale. Low average total costs are obtained only through large-scale production, which makes it difficult for competitors to enter the market. The initial cost of setting up all the necessary pipes and hoses is high, which makes it risky and unprofitable for competitors to enter the market.
In the case of De Beers Group, a monopoly existed due to exclusive ownership of a key resource. De Beers controlled a large percentage of diamond production and sales, which made it difficult for other companies to enter the market and compete.
Patents are another example of a barrier to entry that can create a monopoly. Patents are granted to inventors of a product or process for a certain number of years, which prevents other firms from copying the product or process and producing it without incurring development costs. This encourages innovation in the economy and creates a monopoly for the patent holder.
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ray kroc’s development of mcdonald’s would be a good illustration of which form of innovation?
Ray Kroc's development of McDonald's would be a good illustration of process innovation.
Kroc's innovative approach was to standardize and streamline the fast-food restaurant business model, introducing efficient procedures and systems to increase speed and productivity. He transformed the traditional sit-down restaurant model into a fast-food model, which revolutionized the industry.
Kroc introduced the concept of assembly-line production, where each worker had a specific task to complete, reducing the time it took to serve customers. He also implemented innovative marketing strategies, such as sponsoring local sports teams and offering discounted meals to attract more customers. Kroc's process innovation led to a significant increase in sales and profits, which allowed him to expand McDonald's rapidly.
His innovative approach also set the standard for future fast-food chains, making McDonald's one of the most successful franchises in history.
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50 points
Sonja, an HR manager, investigates an accusation and determines that an
employee has been stealing office supplies. She has always liked this
employee, so she feels bad that the policy calls for firing an employee caught
stealing. Which ethics principle for discipline applies in this situation?
A. To be fair, teach employees what is expected.
B. To be respectful, listen to both sides of the argument.
C. To show honesty, make sure punishment is appropriate.
D. To be fair, follow the policies in every case.
Answer:
D. To be fair, follow the policies in every case.
Explanation: