Which term refers to the first level of a product, which depends on the customer value it generates?
A.
augmented product
B.
core benefit
C.
expected product
D.
basic product
Answers
Answer:
B. core benefit
Explanation:
A product can be defined as any physical object or material that typically satisfy and meets the demands, needs or wants of customers. Some examples of a product are mobile phones, television, microphone, microwave oven, bread, pencil, freezer, beverages, soft drinks etc.
According to the economist Philip Kotler in his book titled "Marketing management" he stated that, there are five (5) levels of a product. This includes;
1. Core benefit.
2. Generic product.
3. Expected product.
4. Augmented product.
5. Potential product.
The core benefit of a product can be defined as the basic (fundamental) wants or needs that is being satisfied, met and taken care of when a customer purchase a product.
Hence, the term that refers to the first level of a product, which depends on the customer value it generates is generally referred to as a core benefit. For example, a hotel provides a comfortable and convenient bed to spend the night (sleep) when you travel for a vacation.
Related Questions
Where can one go to if he or she decides to open up a business but does not have the necessary finance available?
Answers
Answer:
Ask your family and friends to invest in your business.
Apply for a small business grant.
Use a crowdfunding platform.
Pitch to angel investors.
Solicit venture capital.
Use a credit card for a short-term cash option.
Get a microloan.
Bootstrap it.
Explanation:
The four types of entrepreneurs:
Coasting, opportunity comes to them (or it doesn't)
Conservative (very moderate use of resources, protecting existing resources)
Aggressive (proactive, all-in, actively seeks opportunity)
Innovator/Revolutionary (attains growth through innovation)
increases in assets and owner’s equity as a result of selling services or products to customers is called revenue
Answers
Yes, increase in assets and owner's equity as a result of selling services or products to customer is called revenue.
Revenue is the money earned from normal business operations and is calculated by multiplying the average sales price by the number of units sold. Net income is calculated by subtracting costs from the top line (or gross income). On the income statement, revenue is also known as sales.
Revenue (from the sale of goods or services) less operating expenses equals operating income.Non-operating income is income derived from secondary sources that is infrequent or nonrecurring (e.g., lawsuit proceeds).Non-commercial entities such as governments, nonprofits, and individuals also report revenue, though the calculations and sources vary.Revenue is simply the proceeds of sales, whereas income or profit includes the expenses incurred in order to generate revenue and reports net (not gross) earnings.Learn more about revenue here:
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Kyle has experience in tracking inventory. What company might be interested in hiring Kyle?
a city clinic offering night classes to adults
a grocery store looking for a produce manager
a city manager’s office interested in balancing the budget
a state safety agency looking for an inspector
Answers
Answer:
a grocery store looking for a produce manage
Explanation:
Inventory refers to products a business holds for sale. Tracking inventory will refer to managing inventory movement in and out of business. A grocery store will need Kyle's experience much more than the businesses. The core business of a grocery store is to sell groceries.
Because Kyle is good at tracking inventory, he will help the store maintain optimal stock levels and guard against losses due to theft and spoilage.
Vanessa, an underwriter, is evaluating a CGL application for Taunton Publishing. Taunton publishes a weekly tabloid newspaper with articles about popular entertainment and political figures. It has a large readership. The newspaper owns and operates out of a new, single-story building in a complex of commercial buildings. The publishing equipment is computerized, state-of-the-art. The publisher sells through variety stores, grocery stores, and newsstands and it has no on-premises retail operation. Taunton does have outside sales staff that promote the publisher's newspaper among potential sales outlets and that solicit advertising. Which one of the following liability loss exposures would Vanessa probably consider to be Taunton's greatest?
Select one:
A. Premises liability for the publishing facility
B. Products liability for the newspapers that the organization sells
C. Personal and advertising injury for potential libel, slander, or copyright infringement
D. Operations liability for sales staff activities at vendors and advertisers
Answers
Personal and advertising injury for potential libel, slander, or copyright infringement
Commercial general liability insurance includes personal and advertising injury coverage, which defends your company from lawsuits involving alleged violations of the personal or intellectual property of third parties. Libel, defamation, and copyright infringement are all covered. Infringements on a person's or a company's personal or intellectual rights frequently result in personal and advertising harm. Libel, defamation, and copyright infringement are a few examples. Limits. A Personal and Advertising Injury limit, which is the maximum the insurer will pay for all losses assessed against any one person or business, applies to Coverage B. The policy's General Aggregate limit applies to any damages or settlements paid under Coverage B as well.
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What is it called when you make money on
the percentage of the total sales you make?
Answers
Answer:
Commission
Explanation:
Commission is a payment based on the amount of sales an employee makes and is usually based on a percentage of total sales.
It was the third meeting, but the group had finally agreed on the roles for each member. Kathie felt good about how things were progressing. It seemed that the conflicts had been resolved, and everyone had actually arrived on time with their tasks completed. Kathie felt they were now a team. They were now in the ________ stage.
Answers
If It seemed that the conflicts had been resolved, and everyone had actually arrived on time with their tasks completed. Kathie felt they were now a team. They were now in the norming stage.
What is norming stage?Norming stage can be defined as the stage in which member of a group tend to work as a team or in one accord by ensuring that they all complete their tasks .
At this stage the group members are always productive and they tend to as well resolve all the conflict they had by ironing out their difference so as to enables peace to reign about them and to as well enable them to join hand together and work as team.
Therefore based on the giving scenario they are in norming stage of team development.
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On December 1, 2018, Goetz Corporation leased office space for 10 years at a monthly rental of $80,000. On that date Goetz paid the landlord the following amounts:
Rent deposit $ 80,000
First month's rent 80,000
Last month's rent 80,000
Installation of new walls and offices 640,000
Tota: $880,000
The entire amount of $880,000 was charged to rent expense in 2018. What amount should Goetz have charged to expense for the year ended December 31, 2018?
a. $80,000
b. $85,333
c. $165,333
d. $640,000
Answers
,Goetz have charged $85,333 to expense for the year ended December 31, 2018.
How do you calculate the rent?A property's rent normally ranges between 0.8% and 1.1% of its value. If your house is worth $300,000, the rent may range from $2,400 to $3,300 per month. The price range of your house will, of course, have an impact on this strategy.The duration of the lease less the discounted months you receive from the landlord is multiplied by gross rent to arrive at net effective rent. The amount is then divided by the term of the lease. Finally, you arrive at your net effective rent by deducting the calculated amount from the gross rent.By dividing gross rent by the number of months left on your lease, minus the free months your landlord has discounted, you can arrive at net effective rent. You multiply this sum by the length of the lease.Learn more about Rental calculation refer to :
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The perimeter of a room is 88 feet. the ratio of its length to its width is 7:4. you want to tile the floor with 18 inch square tiles. find the length and width of the room, and the area of the floor. how many tiles with you need? if the tiles cost $1.75 each, what will the cost be for the tiles?
Answers
You will need approximately 3584 tiles, and the cost for the tiles will be $6272. Let's denote the length of the room as 7x and the width as 4x, based on the given ratio of 7:4.
Perimeter of a rectangle = 2(length + width)
Given: Perimeter = 88 feet
So, 2(7x + 4x) = 88
2(11x) = 88
22x = 88
x = 88/22
x = 4
Therefore, the length of the room = 7x = 7(4) = 28 feet
And the width of the room = 4x = 4(4) = 16 feet
The area of the floor = length * width = 28 * 16 = 448 square feet
To find the number of tiles needed, we need to convert the area from square feet to square inches:
1 square foot = 144 square inches
So, the area in square inches = 448 * 144 = 64512 square inche
Since each tile is 18 square inches, the number of tiles needed = area in square inches / tile area = 64512 / 18 ≈ 3584 tiles
The cost of the tiles will be the number of tiles needed multiplied by the cost per tile:
Cost = Number of tiles * Cost per tile = 3584 * $1.75 = $6272
Therefore, you will need approximately 3584 tiles, and the cost for the tiles will be $6272.
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Which of the following is a significant factor in how willing creditors will be to
extend credit to an individual?
A. The individual's history of paying back previous credit
B. The individual's general appearance
C. The individual's family situation
D. The individual's education level
Answers
Answer:A
Explanation:
The individual's history of paying back previous credit is a significant factor in how willing creditors will be to extend credit to an individual. Thus, option A is correct.
What is Credit?The capacity to obtain products or services or take loans only with the idea that pays for them afterward is known as credit. Credit is generally given to a person for a fixed period of time that is previously decided at the time of giving money.
This means that the person makes the decision of returning depending on the flow of the social class, which means that the money received by one is given to another person and the cycle goes on.
In the money market, a person is only given the amount if that is known that the amount will be back at the desired time. Therefore, option A is the correct option.
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what is the relationship between descriptive and predictive analytics everfi
Answers
Descriptive analytics tells you what happened in the past and Predictive analytics predicts what is most likely to happen in the future.
Descriptive Analytics will help an organization to know what has happened in the past, it would give you the past analytics using the data that are stored. For a company, it is necessary to know the past events that help them to make decisions based on the statistics using historical data.
Predictive analytics is forecasting the probability of a future event, such as predicting product demand, customer churn, employee turnover, loan defaults, stock market fluctuations and fraud. Having this information ahead of time helps organizations prepare better. It show us what could happen.
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what is 2divided by 100
Answers
Answer:
0.02
Explanation:
Answer:
0.02 ... hope this helps :)
Which of the following is an example of a civil engineer demonstrating problem sensitivity? (Select all that apply.)
1 Anne notices that the construction company isn't properly following the specified layout for emergency exits.
2 Lewis resolved the conflict between the construction company and the client with his usual tact and diplomacy Nick had to leave his last firm because he felt the environment there was too hostile and he couldn't deal with it.
3 Michiko reviews the latest spec changes from the architect on her project and realizes that a simple color change is going to require reordering massive amounts of tile and slow construction to a halt
Answers
Answer:
1. Anne notices that the construction company isn't properly following the specified layout for emergency exits
3. Michiko reviews the latest spec changes from the architect on her project and realizes that a simple color change is going to require reordering massive amounts of tile and slow constriction to a halt
Explanation:
Problem sensitivity simply means the ability for someone to be able to know that something is wrong with a particular thing. In this case, the civil engineer demonstrating problem sensitivity include:
1. Anne notices that the construction company isn't properly following the specified layout for emergency exits
3. Michiko reviews the latest spec changes from the architect on her project and realizes that a simple color change is going to require reordering massive amounts of tile and slow constriction to a halt .
In both cases, they detected what was wrong and could hinder what they were doing or can cause a problem later.
Problem sensitivity simply means the ability for someone to be able to know that something is wrong with a particular thing.
A TV has a listed price of $881.98 before tax. If the sales tax rate is 7.5%, find the total cost of the TV with sales tax induded. Round your answer to the nearest cent, as necessary.
Answers
The total cost of the TV with sales tax included is $949.63. To calculate this, we multiply the listed price by 1 plus the sales tax rate (1 + 0.075) to get the total cost.
To find the total cost with sales tax included, we add the sales tax amount to the listed price. The sales tax rate is 7.5%, which is equivalent to 0.075 as a decimal. To calculate the sales tax amount, we multiply the listed price ($881.98) by the sales tax rate (0.075) to get $66.15. Finally, we add the sales tax amount to the listed price: $881.98 + $66.15 = $948.13. Rounding this to the nearest cent, the total cost is $949.63.
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Excited to buy her dream car, Molly rushes into her local Volkswagen dealership. Molly picks out a
car, sits down at the financing desk, and hears the following:
"Well, we ran your credit history. You've got a really thin file -- just a year's worth of student
loan payments. The deal you saw was for 'well qualified buyers. The best deal we can offer
you is 6.6% for 60 months. A little more bad news -- the cash allowance is also based on
credit history, so you don't qualify for $500. That said, you're excited about a Volkswagen,
and I want to see you driving one, so I can do $400 for you!"
9. Molly still has a $2500 down payment. How much loan does Molly need?
10. How much will Molly's monthly payment be using the Bankrate calculator?
11. How much total interest will molly pay using this plan?
12. How many is the total cost of her car after all together?
Answers
9. The amount of loan that Molly needs with a $2,500 down payment is $22,100.
10. Molly's monthly payment is $433.
11. The total interest Molly will pay under this plan is $3,907.
12. The total cost of Molly's car is $28,507.
Loan Amount:Required cash allowance = $500
Qualified cash allowance = $400
Down payment = $2,500 (typically 10% of value)
Total price of car = $25,000 ($2,500/10%)
Loan required = $22,100 ($25,000 - $2,500 - $400)
Interest and Periodic Payment:N (# of periods) = 60 months
I/Y (Interest per year) = 6.6%
PV (Present Value) = $22,100
FV (Future Value) = $0
Results:
PMT = $433.45
Sum of all periodic payments = $26,007
Total Interest = $3,907
Total Cost of the car to Molly:Down payment = $2,500
Total periodic payments = $26,007
Total cost = $28,507 ($26,007 + $2,500)
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"Transfer of training is influenced by which of the following
factors:
A.Organixational culture
B. Manager support
C.Diversity management policies
D. Employee selection programs"
Answers
The transfer of training is affected by several factors. Of these factors, diversity management policies and employee selection programs have an influence. As a result, the correct option is C and D.
Transfer of training is the application of the learned material in the actual job context. Transfer of training is a significant component of training and development because it ensures that learning has a genuine and quantifiable impact on work performance and behavior.
Transfer of Training Factors:
Organizational Culture: It is an important aspect of learning transfer. An organization's culture may either facilitate or impede transfer.Managerial Support: The employees must be provided with sufficient managerial support to ensure the transfer of training.Diversity Management Policies: Diversity management policies are critical in facilitating the transfer of training.Employee Selection Programs: Employee selection programs are used to identify candidates who are best suited for the training and development program's goals and objectives.You can learn more about the transfer of training at: https://brainly.com/question/31719794
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Community attitudes, zoning restrictions, and quality of labor force are likely to be considered in which of the following location decision methods? center-of-gravity method factor-rating method O transportation method locational cost-volume analysis
Answers
Community attitudes, zoning restrictions, and quality of labor force are likely to be considered in the factor-rating method of location decision.
The factor-rating method is a location decision technique that involves assigning weights to various factors and evaluating potential locations based on those factors. Community attitudes, zoning restrictions, and quality of the labor force are important factors that are often considered in this method.
Community attitudes refer to the overall sentiment and receptiveness of the local community towards businesses. Zoning restrictions are regulations that determine how land and properties can be used within a specific area. The quality of the labor force relates to the availability and skill level of potential workers in a particular location.
When using the factor-rating method, decision-makers assign weights to factors such as community attitudes, zoning restrictions, and quality of the labor force based on their relative importance. Then, potential locations are evaluated and scored based on these factors. The location with the highest overall score is typically considered the most favorable option.
Therefore, the factor-rating method is the location decision method that is likely to consider community attitudes, zoning restrictions, and quality of the labor force.
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How do banks benefit from giving
people loans?
Answers
Answer:
Banks benefit from giving people loans in several ways:
1. Interest income: Banks charge borrowers interest on the loans they provide, which generates income for the bank. This interest income is one of the primary ways that banks make money.
2. Fees: In addition to interest, banks may also charge fees for loan origination, late payments, prepayments, and other services related to the loan. These fees also generate income for the bank.
3. Reduced risk: When banks give loans, they typically require collateral or perform credit checks to ensure that the borrower can repay the loan. This reduces the risk of default and loss of the principal loan amount.
4. Relationship building: Giving loans can help banks build relationships with customers and foster loyalty. Customers who are happy with their loans and overall experience with the bank may be more likely to use other banking services in the future, such as savings accounts, credit cards, and investment products.
5. Economic growth: By providing loans to individuals and businesses, banks can help stimulate economic growth by enabling people to buy homes, start businesses, and invest in new ventures. This can benefit the bank and the broader economy over the long term.
What increases your total loan balance Interest Accrual Interest capitalism Both interest accrual interest capitalism None of the above
Answers
Answer:
Both interest accrual and interest capitalism
Explanation:
The total loan balance increases due to "Both interest accrual and interest capitalism"
This is because INTEREST ACCRUAL on a loan is capitalized, which implies that it will be added to the principal balance, therefore increasing the total loan balance.
Similarly, the INTEREST CAPITALISM occurred when a loan repayment period is missed, therefore, the amount missed is capitalized which in turn increases the total loan balance.
Answer: both
Explanation:
An innovative business idea that no one has never had
Answers
An innovative business idea that no one has never had is Offering virtual assistance to other businesses.
What is innovative business idea ?innovative business idea can be described as an idea in business that cn be developed so that it can be a way to earn a living by providing the services or the goods to the consumer.
It should be noted that this innovation can be the one that no one has ever done or the modification of the one that has been in exisitence, however providing the virtual assistance serves as one of the innovation in business that can ring profit.
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Complete question:
State An innovative business idea that no one has never had
Why does Publix expect you to bag with two hands
Answers
The main reason why the company, Publix Checkout expects its employees to bag with two hands is so that they can offer carryout assistance to customers.
What is a Company Policy?This refers to the formal guidelines that a company has and expects its employees to follow to establish a certain standard.
Hence, we can see that the company Publix Checkout has several company policies, and among these, is the 2 x 2 rule which involves bagging with two hands so they can offer carryout assistance to customers.
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Monitoring the competition is important for all the following reasons EXCEPT
a
to keep prices competitive.
b
a similar décor will attract customers.
c
to match competitors’ promotions.
d
to detect weaknesses in competitors’ promotional strategies.
Answers
Answer: The answer is B
Explanation: Took the test
Answer:
B. a similar décor will attract customers.
Explanation:
Which is a benefit of collaboration and teamwork?
A.It expands your social network and creates new connections.
B.It makes it more difficult to leave your current job.
C.It makes it easier to do your job since you can have other people do it.
D.It requires more work since you have to explain so much to other people.
Answers
Answer:
The Awnser Is A
Explanation:
It's the Best Awnser
Financial information is presented below: Operating expenses $ 40,000 Sales revenue 200,000 Cost of goods sold 150,000 The gross profit rate would be Group of answer choices .75. .20 .05. .25.
Answers
The gross profit rate for this financial information is 0.25. The correct option is 0.25.
To calculate the gross profit rate, we will follow these steps:
1. Determine the Gross Profit by subtracting Cost of Goods Sold from Sales Revenue:
Gross Profit = Sales Revenue - Cost of Goods Sold
2. Calculate the Gross Profit Rate by dividing Gross Profit by Sales Revenue:
Gross Profit Rate = Gross Profit / Sales Revenue
Now, let's apply these steps using the given financial information:
1. Gross Profit = $200,000 (Sales Revenue) - $150,000 (Cost of Goods Sold)
Gross Profit = $50,000
2. Gross Profit Rate = $50,000 (Gross Profit) / $200,000 (Sales Revenue)
Gross Profit Rate = 0.25 or 25%
The gross profit rate for this financial information is 0.25 or 25%. This means that for every dollar of sales revenue, 25% represents the gross profit, which is the amount remaining after covering the cost of goods sold. This rate can be used to evaluate the company's financial performance, profitability, and efficiency in generating profit from its sales.
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Meet Megan: Lives in a suburb of San Jose, CA and is trying to decide between San Jose State University and Santa Clara University Both are close to home, but she wants to live on campus instead of with her mother and stepfather She came across the Consumer Financial Protection Board’s school comparison tool and decides to input her numbers Qualifies for in outside scholarships won through an essay contest Has saved $1500 she can contribute toward tuition; her parents cannot afford to help Got $3000 in Perkins loans, $3000 in Federal Subsidized loans, and $2500 in Federal Unsubsidized loans Is going to take any of the remaining balance in private loans at an interest rate of 7. 9% How much debt will she have at graduation for San Jose State University? What will her monthly loan payment be?
Answers
Megan's monthly loan payment, we need additional information about the repayment term and interest rate for her private loans. Once these details are provided, we can calculate her monthly payments based on the loan amount and interest rate.
Megan, a resident of a San Jose suburb, is considering attending either San Jose State University or Santa Clara University. As she prefers living on campus rather than with her parents, Megan decides to utilize the Consumer Financial Protection Board's school comparison tool to evaluate her options. She qualifies for outside scholarships won through an essay contest and has $1,500 in savings to contribute towards tuition. Her parents are unable to provide financial assistance. Megan secures $3,000 in Perkins loans, $3,000 in Federal Subsidized loans, and $2,500 in Federal Unsubsidized loans. To cover the remaining balance, she plans to take out private loans with an interest rate of 7.9%.
At graduation from San Jose State University, Megan's total debt is estimated to be the sum of her loans, which amounts to $10,000 in Perkins loans, $3,000 in Federal Subsidized loans, $2,500 in Federal Unsubsidized loans, and the private loans she takes out. The debt from private loans will depend on the amount Megan borrows.
To determine Megan's monthly loan payment, we need additional information about the repayment term and interest rate for her private loans. Once these details are provided, we can calculate her monthly payments based on the loan amount and interest rate.
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What is the difference between a partner and a limited (silent) partner?
Answers
Answer:
see below
Explanation:
In a partnership business with general and limited partners, the general partners act as business owners, while the limited partners behave like investors. Limited partners are silent partners. They inject capital in the business and get to share in its profits. Limited partners are not engaged in managing the business affairs and have no voting rights. They have limited liability to the debts of the partnership.
General partners make all the business decisions on behalf of the business. They vote and have the right to get involved in managing the partnership. General partners have unlimited liabilities to the obligations of the partnership.
Name the choreographic element that encourages dancers to rely on musical cues, visual connections, and emotional phrasing.
Answers
The choreographic element that encourages dancers to rely on musical cues, visual connections, and emotional phrasing includes the time, energy, and space
What is the meaning of Choreography?In art, a choreography means the way in which an idea is expressed physically through dance. When developing this concept, the users usually relies on important principles of organization to ensure that the idea takes a clear, appropriate, and aesthetically pleasing form.
These are principles that comprises the basic ingredients for the dancers' movements and patterns and help the choreographer utilize space, express intention and the music, and organize the dancers.
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QUESTION 4: ENVIRONMENTAL ISSUES
4.1. Read the scenario below and answer the questions that follow.
NAZIM MANUFACTURERS (NM) Nazim Manufacturers specialises in the manufacturing of furniture and cutlery. Farida, the CEO, provides all the equipment that is necessary to perform the work. The employees of NM use prescribed safety equipment. NM also encourages employees to do regular health checks. The employees of NM requested their colleagues Jan, Elsie, Thula and Craig to ensure that NM complies with COIDA.
4.1.1. Quote the responsibilities of the employer, employee and the business in protecting human health and safety in the workplace from the scenario above. (3)
Answers
Environmental issues are results of human interest in the biophysical environment, most customarily of that are dangerous results that purpose environmental degradation.
Main modern Environmental issues may encompass weather change, pollutants, environmental degradation, and useful resource depletion. The conservation motion lobbies for the protection of endangered species and protection of any ecologically precious herbal areas, genetically modified foods, and international warming.
These encompass pollutants, overpopulation, waste disposal, weather alternatives, worldwide warming, the greenhouse effect, and many others.
The listing of Environmental issues in our surroundings goes on, however, there are 3 major ones that affect the general public overall: international warming and climate change; water pollutants and ocean acidification; and lack of biodiversity.
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As a business consultant to a grocery store, your job is to determine what pricing policy would be appropriate for increasing the total revenue. The first step you would take would be to Group of answer choices reduce staff in order to reduce operating costs. increase the price of all products. determine the price elasticity of supply for all products sold at the store. determine the price elasticity of demand for all products sold at the store.
Answers
As a business consultant for this store to determine the appropriate pricing i would determine the price elasticity of demand for all products sold at the store.
The price elasticity of demand can be described as the measurement of the economic impacts of changes in price on the quantity that would be demanded by the consumers.
It would be necessary to observe how the price of the goods would affect the demand. If the prices are too high and the demand falls, the revenue would drop.
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What are examples of conflict in the workplace
Answers
Answer:
Toxic Workplace
Explanation:
people talk bad about you
The natural rate of unemployment prevails when:
A. the AD curve intersects the SRAS curve.
B. the number of unfilled jobs is matched by the number of qualified workers.
C. agricultural unemployment equals manufacturing unemployment.
D. unemployment is minimized.
Answers
The natural rate of unemployment prevails when: B. the number of unfilled jobs is matched by the number of qualified workers.
What is natural rate of unemployment?The natural rate of unemployment is the rate of unemployment that exists when the labor market is in equilibrium, meaning that the number of job openings available matches the number of qualified workers seeking employment.
At this rate, there is no cyclical unemployment, which is the unemployment that results from fluctuations in economic activity. The natural rate of unemployment includes only frictional and structural unemployment, which are caused by factors such as job search, job matching, and changes in the structure of the economy.
Option B correctly describes the conditions that must be met for the natural rate of unemployment to prevail. When the number of unfilled jobs is equal to the number of qualified workers, there is no cyclical unemployment caused by a lack of demand for labor, and the economy is operating at its potential output level. This level of unemployment is considered to be the "natural" rate because it is not influenced by short-term fluctuations in aggregate demand or supply.
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