when an increase in the scale of production leads to higher average costs, the industry exhibits a. diminishing returns. b. increasing returns to scale. c. decreasing returns to scale. d. constant returns to scale.
Answers
When an increase in the scale of production leads to higher average costs, the industry exhibits diminishing returns.
Option A is correct .
How does production volume affect price?The higher the production volume, the lower the fixed cost per unit. Economies of scale also lead to lower average variable costs (average non-fixed costs) as output increases. This is achieved through operational efficiencies and synergies as a result of increased production scale.
What happens to the average total cost as production increases?As the total number of units of production produced increases, the average fixed cost decreases because the same amount of fixed cost is distributed among more units of production.
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Related Questions
What causes stagflation to occur?
Answers
Stagflation can be brought on by either bad economic policies, such as excessive government spending or low interest rates, or by a supply-side shock, such as a significant increase in oil prices.
Is stagflation more detrimental than recession?In contrast to a recession, which sees economic contraction and generally high unemployment but little concern over inflation, stagflation is typically defined as an economic cycle marked by consistently high inflation, high unemployment, and poor economic growth. In terms of economics, stagflation, sometimes known as recession-inflation, is a state in which unemployment is consistently high, the economy is growing slowly, and the inflation rate is high or rising. It creates a conundrum for economic policy because measures taken to reduce inflation may make unemployment worse.
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Do you think that employers have a right to judge an applicant attitude when hiring? Give a reason for your answer
Answers
Hope this helps :)
a copayment is a percentage of the fee for services provided that the patient pays. a set amount that each patient pays for each office visit. a portion of the fee that the physician must write off. a capitation payment.
Answers
Capitation payments are used by managed care organizations to regulate healthcare costs. Capitation payments control the amount of healthcare consumed by putting the doctor's finances at risk for patient care.
Describe capitation.Capitation is one way to pay for medical services. It pays a fixed amount for each enrolled individual assigned to them during a specific time period regardless of whether that person seeks care. Public insurance payments are used by managed care organizations to regulate healthcare costs. Capitation payments control the amount of healthcare consumed by putting the doctor's finances at risk for patient care. An example of capitation would be a 5,000 patient IPA, a type of HMO. The IPA must ensure that its patients will have insurance for the upcoming session.
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Supply-side policies have proven that smaller government makes the economy more efficient. Select one: True False
Answers
Answer:
The given statement is "False".
Explanation:
Supply-side policies include those strategies that increase the economic ability of an enterprise as well as the ability to manufacture. To increase supply-side efficiency, there are also many specific steps that somehow an authority may undertake. Any strategy that increases the economic capacity of a nation's infrastructure and therefore its ability to transfer should be under the supply-side legal framework.PLZ help I’m so tired!! SIS GOTTA GO SLEEP!!
which upset customer handling technique requires responding quickly and in a businesslike tone with abuse cursing and threats are present?
A. Let them talk
B. Resolve the problem
C. Identify the problem
D. Don’t tolerate abuse
Answers
Answer:
my answer is a.let them talk
Don’t tolerate abuse handling technique requires responding quickly and in a businesslike tone with abusive cursing and threats present.
Thus, option D is correct.
What is a customer handling technique?The customer handling technique allows representatives to summarise and reiterate the client's issue, listening intently to a company’s customers is a crucial customer service ability. The customer will feel as though their problem is addressed if you do this.
The customer handling technique will not allow anyone to say wrong words or bad words to another piece. There it is important that no one should they are allowed to abuse another being. Even if it is a customer then there should be respectfully told so.
Therefore, option D is the correct option.
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Step 3: Creating a Balanced Family Budget
a) Search for a "family budget estimator" and calculate the monthly expenses for a family living
in your city.
Insert a screenshot of the calculator you used, as well as all of the information you entered
into it. If you are unable to insert a screenshot, then list the information below. (10 points)
b) State the minimum monthly income and hourly wage per worker needed to cover monthly
expenses for the family you used in part a. Then, explain how to calculate the hourly wage
Show we’re u found your information
Answers
The family budget calculator use is attached accordingly. See relevant definition below.
What is the minimum monthly income and hourly wage per worker required to cover the monthly expenses indicated in the budget?The total budget indicated is $7,304. Hence to cover for the above expenses, one would need to work for at least 8 hours per day, and 5 days a week at the minimum income wage of $50 dollars/Hour.
This translates to:
50 x 8 x 20
= $8,000
What exactly is a family budget?A family budget is a plan for your household's incoming and outgoing funds for a specific time period, such as a month or year.
What is the definition of a Family Budget Calculator?The Family Budget Calculator calculates the amount of money required for a family to maintain a modest but decent level of life.
The budgets project community-specific expenses for ten different family types (one or two adults with zero to four children) across all counties and metro regions in the United States.
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Consider what you learned in the videos Communicating with Confidence and Delivery Tips for Speaking in Public. First, reflect on presentations you have seen. What stands out as positives in the best presentations you have seen? What stands out as opportunities for improvements in presentations you have seen? Provide clear examples. Next, have you ever done a presentation? If so, what are your strengths? What are your opportunities for improvement? Lastly, what information from the videos do you think will help you most when presenting in the future?
Answers
In the best presentations I have seen, clear and engaging
communication, well-structured content, and confident delivery stood out as positives. However, some opportunities for improvement were evident in terms of visuals, audience engagement, and managing time effectively.
The best presentations I have witnessed were characterized by speakers who effectively communicated their ideas with clarity and enthusiasm. They utilized storytelling techniques, relevant examples, and visual aids to enhance understanding and engagement. These presenters organized their content in a logical and coherent manner, using clear introductions, smooth transitions, and concise summaries. They also displayed confidence through their body language, eye contact, and vocal delivery, capturing the attention and interest of the audience.
However, there were also opportunities for improvement in some presentations. For instance, some speakers relied too heavily on text-heavy slides, which hindered visual impact and distracted from their message. Others struggled with engaging the audience, failing to incorporate interactive elements or involve participants through questions and discussions. Additionally, time management was sometimes an issue, with presentations either running too long or being rushed, impacting the overall effectiveness and audience experience.
In my own presentations, my strengths lie in my ability to research and organize information effectively. I strive to present clear and concise content and engage the audience by incorporating relevant stories or anecdotes. However, I recognize that I can improve my delivery by working on my vocal variety, maintaining consistent eye contact, and managing nerves to exude more confidence.
From the videos, the tips on using body language effectively, employing vocal techniques to enhance delivery, and incorporating visual aids appropriately will greatly benefit me in future presentations. I will focus on refining my non-verbal communication, practicing vocal modulation, and creating visually appealing slides that support and enhance my message. By implementing these techniques, I aim to deliver more impactful and engaging presentations in the future.
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Mack is an oil executive. He wants to start a new company with different partners to explore some drilling opportunities. His attorney advises him about the various business forms. When discussing the llc form, his attorney mentions that one of the biggest disadvantages of the llc form is that.
Answers
When discussing the llc form, his attorney mentions that one of the biggest disadvantages of the llc form is that there is no uniform law governing LLCs in the United States.
When you attempt to start an indebtedness company (LLC), you'll be able to value more highly to form your company in any state, irrespective of where you're based. But in most circumstances, your home state is going to be your most-effective option.
It has been attorney enacted in 20 U.S. jurisdictions: Alabama, Arizona, Arkansas, California, Connecticut, the District of Columbia, Florida, Idaho, Illinois, Iowa, Minnesota, Nebraska, New Jersey, American state, Pennsylvania, Mount Rushmore State, Utah, Vermont, Washington, and Wyoming.
As of this writing, the sole state that does not allow the formation of an in-state Series LLC is California. California has specific and strict regulations governing business normally, and there's currently no such thing as a California Series LLC. "Model" acts, as compared, are intended to function guideline legislation which states can borrow from or adapt to suit their respective situations.
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______________ include all of the costs of production that increase with the quantity produced.
Fixed costs
Variable costs
Average costs
Average variable costs
Answers
Variable costs include all of the increased costs of production with the increased quantity produced.
When sales or production increase, variable costs also increase; and when sales or production decrease, variable costs decrease as well.
What is an example of variable cost?A variable cost is an expense which changes in proportion to sales or production output. Examples of variable costs are raw materials, production supplies, piece-rate labor, delivery costs, commissions, packaging supplies, and credit card fees. For some accounting statements, the variable costs of production are defined as the Cost of Goods Sold.
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You are researching buying your first car and have found the following information. Use the information below to calculate how much owning the car will cost you over 5 years. (Note: Not all information is useful/needed)
• Purchase Price: $20,000
• 4--Year Auto Loan payment: $450
per month
• Depreciation: 10% of the original price each year
• Checkups/Oil changes: $100 per year
• 5-year Average Repair Costs:
$3,000
• Insurance: $1,200 per year
• Gas cost: $3,000 per year
Answers
Using mathematical operations, the total cost of owning the car will be $46,100 over its 5-year life.
How is the total cost determined?The total cost is the sum of the different costs associated with the ownership of the car over its 5-year period.
Some costs, like gasoline, checkups/oil changes, and insurance are multiplied by 5 years while others were not.
Auto loan repayment per month = $450
Period of auto loan repayment = 48 months (4 years x 12)
Auto loan repayment for 4 years = $21,600 ($450 x 48 months)
Checkups/Oil changes = $500 ($100 x 5 years)
5-year Average Repair Costs = $3,000
Insurance = $6,000 ($1,200 x 5 years)
Gas cost - $ 15,000 ($3,000 x 5 years)
Total cost = $46,100
Thus, we can use mathematical operations (multiplication and addition) to determine the total cost of the car over 5 years.
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A business person uses 1500 units of a specific subassembly part yearly, with an annual holding cost of $45 per unit. each order placed costs them $150. in one year they find out that their forecasting department has made an error in estimating the demand and instead of the correct demand, they had reported the same 1500 units and calculated the eoq resulting in an error of 1% underestimation in optimal total cost. neglecting purchasing cost in your calculations, what is the correct demand value?
Answers
The correct demand value will be 1515.
What is demand value?
The Demand value is the quantity's average value during a specific time period.
How to determine the demand for a product?
Market demand is the level of consumer desire for a given product over a specific time period. A lot of variables influence market demand, including the number of consumers looking for your goods, their willingness to pay for them, and the amount of your product that is readily available from your business and your rivals.
Steps to calculate demand value
EOQ = sq. root( 2D × TC/HC)
Where EOQ is the Economic Order Quantity for a particular product
D is the demand for the particular product
TC is the total cost of producing the product
HC is the holding cost of producing the product
Substituting we get:
EOQ = Sq. root [ 2 × 1500 ×150 /45]
Solving we get EOQ = 100 units.
After the mistake correction, the TC is 148.5
Substituting values we get:
100 = Sqroot [ 2D × 148.5 / 45]
Solving the equation we get the Demand value as 1515.
Therefore, the demand value is 1515.
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On December 31, 2021, Tiras Company reported net income of $52,000 and sales of $205,000. The company also reported beginning and ending accounts receivable at $20,500 and $25,600, respectively. Tiras will report cash collected from customers in its 2021 statement of cash flows (indirect method) in the amount of:
Answers
Tiras will report cash collected from customers in its 2021 statement of cash flows (indirect method) in the amount of: $0. Thus, option (a) is correct.
Given information:
Net income of $52,000Sales of $205,000Reported beginning at $20,500Ending accounts receivable $25,600According to the indirect approach, the statement of cash flows starts with net income or loss and then adds or subtractions are made for non-cash revenue and cost components to produce cash flow from operational activities.
Cash received from consumers is not displayed when the Statement of Cash flows is calculated using the indirect approach; nevertheless, it is displayed when the Statement of Cash flows is calculated using the direct method.
So, it will be the $0.
Therefore, option (a) is correct.
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Your question is incomplete, but most probably the full question was.
On December 31, 2021, Tires Company reported net income of $52,000 and sales of $205,000. The company also reported beginning and ending accounts receivable at $20,500 and $25,600, respectively. Tiras will report cash collected from customers in its 2021 statement of cash flows (indirect method) in the amount of:
Multiple Choice
$0.
$251,100.
$210,100.
$179,400.
1. Why is hospitality important in business?
2. What types of things does a hospitality manager do?
3. What courses or information would be helpful for a hospitality manager?
4. What do you think you'd like best about working as a hospitality manager?
Answers
Answer:
1. It shows you know how to do your job better.
Explanation:
It shows that you can respect your Client/Customer and have a better experience with you. Also it helps you to not get fired easily.
Jesse wants to work as a public relations specialist. What academic requirements should he complete?
A.
a bachelor’s degree
B.
on-the-job training
C.
a technical program
D.
a doctorate degree
E.
high school
Answers
Answer:
A.
Explanation:
a bachelor's degree
Answer:
"A 4-year bachelor's degree in a PR-related area like journalism, marketing or communications is frequently required for entry-level positions."-Google
So the answer should be A.
If you are projecting your future financially, what are your
doing?
Risking
Forecasting
Managing
Expanding
Answers
Answer:
Forecasting
Explanation:
Because a weather forecast looks ahead for weather. You are forecasting your financial future
Entity A is a construction company listed in Hong Kong.
To maintain consistency, it always recognises progress based on work certified over total contract value. For a long-term contract, Entity A will satisfy the performance obligation over time.
In the year to 30 June 2020, Entity A had recognised revenue of $15,000,000 and a profit of $3,750,000 in respect of this contract.
The following information relates to one of its long-term contracts on 30 June 2021.
Contract price = $50,000,000
Costs incurred to date = $32,500,000
Estimated cost to complete = $5,200,000
Invoiced to customer = $30,000,000
Work certified to date = $42,500,000
Answers
Entity A is a construction company in Hong Kong, and it recognizes progress based on work certified over total contract value to maintain consistency. Entity A recognizes the satisfaction of the performance obligation over time for long-term contracts.
On June 30, 2021, Entity A's long-term contract had a contract price of $50,000,000. Costs incurred to date were $32,500,000, estimated cost to complete was $5,200,000, invoiced to the customer was $30,000,000, and work certified to date was $42,500,000.
Based on the contract information, Entity A had incurred $37,700,000 (cost incurred to date plus estimated cost to complete) against a contract price of $50,000,000. The amount invoiced to the customer was $30,000,000, and work certified was $42,500,000, which indicates that the entity is in a good position with respect to satisfying the performance obligation.
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a $116,400 initial investment will generate the following present values of net cash flows. what is the break-even time for this investment? (pv of $1, fv of $1, pva of $1, and fva of $1)
Answers
To calculate the break-even time for this investment, we need to use the present value of net cash flows and the initial investment amount. Let's assume that the net cash flows are received annually and are as follows:
Year 1: $30,000
Year 2: $40,000
Year 3: $50,000
Year 4: $60,000
To find the present value of these cash flows, we need to use the present value of $1 factor. Assuming a discount rate of 10%, we get:
Year 1: $27,273
Year 2: $33,058
Year 3: $37,634
Year 4: $41,864
Adding up the present values of all the cash flows, we get a total of $139,829. This means that the investment is not profitable at this point.
To calculate the break-even time, we need to find out when the present value of the net cash flows equals the initial investment of $116,400. To do this, we can use the present value of an annuity factor. Assuming a discount rate of 10%, we get:
PVA factor for 4 years at 10% = 3.1699
Break-even time = Initial investment / PVA factor
Break-even time = $116,400 / 3.1699
Break-even time = 36.7 years
Therefore, the break-even time for this investment is approximately 36.7 years.
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Attestation risk is limited to a low level in which of the following engagement(s)?
Both examinations and reviews.
Examinations, but not reviews.
Reviews, but not examinations.
Neither examinations nor reviews.
Answers
The correct answer is: Examinations, but not reviews. In examinations, attestation risk is limited to a low level due to the extensive procedures performed by the auditor, whereas in reviews, attestation risk is not limited to a low level.
In an examination engagement, the auditor performs extensive procedures and obtains a high level of assurance regarding the subject matter being examined. The procedures involve obtaining sufficient and appropriate evidence to support the conclusions reached by the auditor. As a result, attestation risk is limited to a low level in examinations because the auditor has performed substantial work to mitigate the risk of issuing an incorrect opinion.
On the other hand, in a review engagement, the auditor performs limited procedures and provides limited assurance regarding the subject matter being reviewed. The procedures performed in a review are analytical and inquiry-based, and they provide a lower level of assurance compared to an examination. As a result, attestation risk is not limited to a low level in reviews because the auditor's work is less extensive and the level of assurance is lower.
Therefore,
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2023 leaf’s battery pack is located beneath the floor of the passenger compartment. What are the advantages of this platform?.
Answers
If 2023 leaf’s battery pack is located beneath the floor of the passenger compartment. The advantages of this platform is: It help to effectively maximize passenger as well as cargo space.
2023 leaf’s battery packThe advantages of this platform in a situation were 2023 leaf’s battery pack is found beneath the floor of the passenger compartment includes the following:
It helps to effectively maximize passenger and cargo spaceThe low center of gravity helps to effectively enhance handling.Therefore The advantages of this platform is: It help to effectively maximize passenger as well as cargo space.
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what non gaap accounting method did tony menendez cite in blowing the whistle on halliburton? group of answer choices recording sales that lack economic substance failing to write off impaired assets bill and hold revenue recognition releasing cookie jar reserves to smooth income
Answers
Tony Menendez, a former Halliburton accountant, cited the "bill and hold" revenue recognition method as a reason for blowing the whistle on Halliburton.
A corporation that uses the "bill and hold" approach of non-GAAP (Generally Accepted Accounting Principles) accounting acknowledges revenue for products that have been sold and billed to the customer but have not yet been shipped or delivered. This technique is regarded as a type of earnings management since it may be used to artificially boost a company's revenue and profitability.
Tony Menendez claimed that Halliburton was breaking accounting rules and employing this technique to fraudulently increase its revenue and profitability. A company's financial statements can also be manipulated using the other strategies described, such as documenting sales that lack economic substance, neglecting to write down impaired assets, and releasing cookie jar reserves to smooth income.
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Skin Care: Who created the makeup and skin care brand Glossier? The company recently became one the few women-founded private startups worth over $1 billion?
Answers
Glossier is a makeup and skincare brand that was created by Emily Weiss. Weiss was a former Vogue assistant who gained popularity for her beauty blog, Into the Gloss. She founded Glossier in 2014 with a mission to create a more inclusive beauty industry that focuses on enhancing natural beauty rather than concealing it.
Glossier has become a cult favorite among millennials due to its minimalistic approach to beauty and its social media presence. The brand's success can also be attributed to its direct-to-consumer model, which allows Glossier to offer affordable prices and build strong relationships with its customers.
In 2019, Glossier became one of the few women-founded private startups worth over $1 billion. This achievement has made Weiss a role model for women entrepreneurs and has highlighted the importance of diversity in the startup industry.
Overall, Glossier's success can be attributed to Weiss's vision and her ability to tap into the needs of a younger generation that values authenticity, inclusivity, and simplicity in their skincare and beauty routines.
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A person who is involved in the process of creating and managing a business to achieve his or her desired objectives is engaged in
Answers
Answer:
entrepreneur
Explanation:
An entrepreneur is an individual who initiates the process of creating and managing a business entity with profit motives. They start with developing a business idea and transform it into a successful venture. Entrepreneurs assume the risks associated with starting a new business. They risk their capital, time, and energy with the expectation to make profits.
Entrepreneurs are creative and innovative people. They spot business opportunities where others don't. Entrepreneurs develop products and services that address the community's needs.
If management operates to maximize the firm's profits, this will also maximize the market value of stockholders' wealth.
a. True
b. False
Answers
Answer:
b. False
Explanation:
The shareholder wealth could be maximized when there is a rise in the stock price as when the stock price rises, it automatically rised the value of the firm and the net worth also
Therefore in the given situation, in case when the firm wants to maximise its profits so it not necessary to increased the market value
Therefore the given statement is false
What do Alabama's Black Belt counties have in common?
Answers
What are the benefits and drawbacks of a service-based economy?.
Answers
A service-based economy is an economy that depends on the provision of services to generate and maintain economic growth and development.
Below are the benefits and drawbacks of a service-based economy. Benefits of a service-based economy: Highly efficient: Service-based economies are highly efficient due to their nature of providing intangible goods. The highly efficient and cost-effective operations lead to increased productivity and performance.
Higher employment opportunities: Service-based economies create more job opportunities as people are employed in service sectors like healthcare, education, hospitality, and information technology.
Many businesses, especially small businesses, rely on services, so the service sector is usually an important part of the economy. A shift towards services means more employment opportunities and a growing workforce. Growth opportunities:
The service sector offers a lot of growth opportunities as compared to other sectors of the economy. This is because of the flexibility in the delivery of services, which allows businesses to adapt to changing market conditions, consumer trends, and technological advancements.
A decline in innovation and technology: The service sector is not as research-oriented as other sectors of the economy such as manufacturing and production. This may cause a lack of innovation and technology, which can be detrimental to economic growth and development.
Therefore, the service-based economy must balance the needs of the service sector with the demands of other sectors to ensure sustainable development.
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Part E. Question 10. An organization that continuously processes proposals is addressing a large backlog due to an historical FIFO sequencing rule. You have been asked to determine a schedule that minimizes the processing time of project proposals through the editing department and revision department. The editing department identifies changes, and the revision department incorporates the changes and produces a final proposal document for release. A proposal must pass through each department. Each department has personnel to service only one document at a time. The editing time is dependent on the type of proposal and the revision time is dependent on the size of the proposal. The time estimates below have been provided to you for scheduling. Question 10. What is the minimum processing time in minutes? (A) 454 (B) 458 (C) 437 (D) 883 (E) none of the above
Answers
As per the above data, the minimum processing time in minutes is 437.Option (C) 437 is correct.
Here, we are given that: An organization that continuously processes proposals is addressing a large backlog due to an historical FIFO sequencing rule. You have been asked to determine a schedule that minimizes the processing time of project proposals through the editing department and revision department.
The editing department identifies changes, and the revision department incorporates the changes and produces a final proposal document for release. A proposal must pass through each department. Each department has personnel to service only one document at a time. The editing time is dependent on the type of proposal and the revision time is dependent on the size of the proposal.
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Fast-moving Consumer Good (FMCG) They are non-durable consumer goods that sell like hotcakes as they usually come with a low price and high usability. These products are usually stacked up on the shelves of the supermarkets. Less durability, high demand, and low price are some FMCG traits that enable them to be sold off quickly. These goods (FMCG) are non-durable by nature. They have a huge demand and are affordable for most everyone. Sometimes, they are also called consumer packaged goods or CPG, as many are packaged goods. Proper planning, innovation, localization, diversification, and investment are the reasons behind many FMCG brands' success. Here are several types of fast-moving consumer goods products. # 1 - Processed Foods They come in a package. Some serve as a cooking ingredient; some are ready-to-eat food, while some have nutritional value. For example, tinned vegetables, cereals, flavored yogurt, cheese, tofu, canned beans, etc. Almost all kinds of food are processed. Some of them contain artificial flavors and preservatives to increase their shelf life. Almost all kinds of food undergo some form of processing. For example, even a can of fresh diced tomatoes undergoes cleaning, dicing, and packaging. Also, sometimes vitamins are added to dairy products to boost their nutritional levels. 2. Examine the scenario on how a Fast-moving Consumer Good can be distributed by their organization: With suitable example based on scenario a) Manufacturer's background. b) Functions of marketing channel. [3 marks] [12 marks]
Answers
Fast-moving Consumer Goods (FMCG) are non-durable consumer goods that have high demand, low price, and quick turnover. They are typically sold in supermarkets and are known for their affordability and convenience. Examples of FMCG include processed foods like canned vegetables, cereals, flavored yogurt, and cheese.
Fast-moving Consumer Goods (FMCG) are consumer goods that are non-durable by nature, meaning they are consumed or used up quickly. They have a high demand and are affordable for most people, contributing to their rapid sales. FMCG products are often referred to as consumer packaged goods (CPG) due to their packaging. The success of FMCG brands is often attributed to proper planning, innovation, localization, diversification, and investment.
One type of FMCG product is processed foods. These products come in packages and serve various purposes, such as cooking ingredients or ready-to-eat meals.
Examples of processed foods include tinned vegetables, cereals, flavored yogurt, cheese, and canned beans. Processing techniques are applied to most types of food, even for basic tasks like cleaning, dicing, and packaging fresh diced tomatoes. In some cases, artificial flavors, preservatives, or added vitamins are used to increase shelf life or enhance nutritional levels.To distribute FMCG products, the manufacturer plays a crucial role. They are responsible for producing and packaging the goods, ensuring quality, and establishing distribution networks. The functions of the marketing channel, which includes various intermediaries such as wholesalers and retailers, help in the distribution process. These intermediaries facilitate the movement of FMCG products from the manufacturer to the end consumers through activities like warehousing, transportation, promotion, and retailing. The marketing channel functions enable efficient distribution and availability of FMCG products to meet consumer demands.
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Which of the following is a characteristic of a service?
A. Can be stored
B. Can be repeated in exactly the same way
C. Mass produced
D. Intangible
Answers
Answer:
D.Intangible
Explanation:
Because three characteristics of service are: intangibility, inseparability, variability
The correct answer is D. Intangible. is a characteristic of a service
What are servicesServices are intangible in nature. This means that they do not have a physical presence and cannot be touched or held like physical goods. This is one of the key characteristics that differentiates a service from a product.
Options A, B, and C are typically characteristics of goods, not services:
A. Services cannot be stored for later use like physical goods.
B. Due to the human aspect involved in delivering services, they may not be repeated in exactly the same way each time.
C. Services are generally customized to the individual customer and are not mass-produced in the same sense as physical goods.
Option D is therefore a service characteristic.
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Choose one of the following companies and describe their value chain, with particular focus on the primary activities that they undertake to bring their product/service to market. Reebok Rolex Kia
Answers
Rolex Value Chain:
Rolex, a renowned luxury watch manufacturer, undertakes various primary activities to bring their product to market:
1. Rolex focuses on sourcing high-quality materials and components from trusted suppliers worldwide. They maintain strict quality control and ensure the timely delivery of these inputs to their manufacturing facilities.
2. Operations: Rolex's manufacturing process combines traditional craftsmanship with advanced technology . Skilled watchmakers assemble and hand-finish each timepiece meticulously. The company prioritizes precision, attention to detail, and quality control throughout the production process.
3. Outbound Logistics: Once the watches are manufactured, Rolex distributes them through authorized retailers worldwide. They have a sophisticated supply chain management system to ensure efficient shipping and delivery of their products to various markets.
4. Marketing and Sales: Rolex's marketing strategy revolves around exclusivity, luxury, and timeless elegance. They employ various marketing channels, including print media, digital marketing, sponsorships, and brand ambassadors, to promote their watches. Rolex's sales primarily occur through authorized retailers and their own boutiques, where they provide a luxurious and personalized shopping experience.
5. After-Sales Service: Rolex places significant emphasis on customer satisfaction and offers exceptional after-sales service. They provide warranties, servicing, and repairs for their watches through their authorized service centers worldwide. This ensures the longevity and reliability of their timepieces, fostering customer loyalty.
Additionally, Rolex engages in supportive activities to enhance their primary activities:
1. Procurement: Rolex carefully selects and manages relationships with suppliers to ensure the highest quality of materials and components for their watches.
2. Technology Development: Rolex invests in research and development to advance their watchmaking techniques, precision, and durability. They continuously innovate to maintain their reputation as a leader in the luxury watch industry.
3. Human Resource Management: Rolex values highly skilled watchmakers and craftsmen. They provide training, workshops, and apprenticeship programs to nurture talent and preserve the art of watchmaking.
4. Firm Infrastructure: Rolex's firm infrastructure includes their headquarters, administrative functions, and management systems, which support the overall operations and strategic decision-making of the company.
By excelling in each of these primary and supportive activities, Rolex has established itself as a global leader in luxury watches, known for their exceptional quality, craftsmanship, and timeless appeal.
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Items that are essential to operating a business are considered
A. business needs
B. operating costs
C. business finances
D. assets
Answers
Answer:
A. Business Needs
Explanation:
It's not assets ♂️