Some oil companies drill for their own crude oil to control their supply and potentially lower long-term costs, while others purchase it on the market for flexibility and short-term cost advantages. Factors influencing this decision include logistics, strategic preferences, risk tolerance, economic considerations, and historical industry consolidation examples like John D. Rockefeller's Standard Oil.
Explanation:The question explores why some oil companies choose to drill for their own crude oil while others purchase it on the market. This decision largely depends on corporate strategies and competitive advantages. Companies like Texaco drill their own oil to have greater control over their supply chain and potentially lower costs in the long run, as they can avoid market price fluctuations. However, drilling is also a significant investment with its own risks and costs. Companies like Ashland Oil, Inc. may instead purchase oil on the market to avoid those investments and risks, leveraging flexibility in sourcing and capitalizing on potential cost advantages in the short-term market.
An important historical example is John D. Rockefeller's Standard Oil, which consolidated much of the oil industry, gaining a competitive advantage through economies of scale and vertical integration. However, the oil drilling market today is competitive, with many suppliers and relatively free entry and exit, suggesting that companies have a range of strategic options available to them.
Moreover, oil companies must consider logistical factors, like the proximity of wells to refineries, as well as economic and operational constraints, like optimizing refinery throughput and the mix of crude oil with manufactured products to maximize profits. The oil industry is also subject to external factors, such as political stability in oil-producing regions, which can affect the availability and price of crude oil, further influencing a company's decision to drill or buy.
Billy accepted a job at a company that specializes in providing money for short-term retail lending. where did he go to work?
What type of costs should firms and individuals ignore when making decisions?
The answer is sunk costs also known as retrospective costs. It is a charge that has already been acquired and cannot be recovered. These are occasionally compared upcoming costs that may be acquired or changed if an act is taken which is called prospective costs. Both prospective and retrospective costs may be either fixed or variable costs. Though, many economists consider it a mistake to categorize sunk costs as "fixed" or "variable."
Oxes service shop started the year with total assets of $320,000 and total liabilities of $240,000. during the year, the business recorded $630,000 in revenues, $450,000 in expenses, and owner drawings of $60,000. ownerâs equity at the end of the year was
The marketing technique known as ________ involves merchants offering products or services for a very low price for a short period of time
A(n) _____________ questionnaire measures what it was intended to measure in the population being assessed.
A(n) ____ is the process of searching through a list from one end to another.
The answer to this question is linear search. Linear search is a method of finding an item in the list. Linear search is also known as a sequential search. In this kind of method, this is a search method where in all elements are being searched in order to find the desired element or value.
Project metadata is data that is ________.
Name the four major categories of primary energy use in an industrial society, and match the energy sources that correspond to each
Four major categories of Primary energy use are:
1. Transportation
2. Industrial Process
3. Commercial and residential use
4. Generation of electrical power
Transportation depends entirely on petroleum, whereas nuclear power, coal, and water power are limited to the production of electricity. Electricity is in most commercial and residential use. Industrial processes use natural gas, oil, and electricity. Some oil, natural gas and biomass are used for the generation of electricity.
Smartwork inc. produces popular electronic devices, such as notebook computers. for the design of their products, this firm used ideas generated in-house and from university professors. both sources of ideas created significant value. even though smartwork was not the first to think of all the ideas they used, they became the first to successfully commercialize these ideas. also, smartwork has been known to buy intellectual property when doing so suits their needs. this scenario describes a(n)
The scenario describes open innovation, where a firm utilizes both internal and external ideas for better innovation outcomes. This approach enables faster innovation, lower costs, and reduced competitive risks.
The scenario described in the question depicts a company engaging in what is known as open innovation. In this strategy, firms use both internal and external ideas to advance their technology and product offerings.Key advantages of this enterprise model include:
Faster product and process innovationLower cost of innovationReduced risk of competitive preemptionFor instance, Smartwork Inc. leverages ideas from university professors and purchases intellectual property to innovate, much like Fiat's development of the Palio in Brazil using global expertise, or the way Texas Instruments collaborates between Indian and U.S. engineers for advanced chip designs."faults associated with zones of subduction are _____________ faults depending on the angle of the dip."
rajon is trying to decide between majoring in psychology and majoring in economics. he considers the intensity of each major since he will be on the varsity football team next year, his interest in the subject matter of the required courses in each field, and the likelihood of finding a job after graduation. he has employed ____.
Rajon has employed a utility theory of which a person has decided and targeted his or her preference in life as it is seen on Rajon’s actions as he tries to determine the course he would take of which is beneficial for him in the future which are considered to be his preference in his life. It is also a way of having people rank choices and which would be of preference or priorities in their life. It can be illustrated on Rajon’s actions as he tries to take up choices of which is best and which are his priorities in relation his field and job after he graduated in his school.
The federal minimum wage law requires that most workers be paid at least $5.15 per hour. a governor of a small industrial state, in which the standard of living is considerably below national levels, perceives that some employers might be willing to hire more workers if the amount were lowered. in order to increase the general welfare of the citizens of this state, he proposes to the legislature a bill lowering the minimum wage in certain industries and especially for certain age groups. such a state act would probably be declared unconstitutional because of
The proposal to lower the minimum wage would likely be deemed unconstitutional due to the Supremacy Clause of the U.S. Constitution, which maintains federal law as the 'supreme law of the land', overriding any conflicting state laws. The federal minimum wage law is intended as a price floor in the labor market to protect the health and well-being of employees.
Explanation:This question pertains to the laws around the establishment of minimum wage stipulated by the federal government in the US. The minimum wage law is cited as an example of a price floor in the labor market. It is intended to stabilize the post-Depression economy and protect the workers in the labor force. The minimum wage was designed to create a minimum standard of living to protect the health and well-being of employees.
In your case, the governor's proposal to lower the minimum wage in certain industries and for certain age groups would likely be deemed unconstitutional because the federal law preempts state law. The Supremacy Clause of the Constitution of the United States stipulates that federal law, treaties, and the U.S. Constitution itself are 'the supreme law of the land', meaning they override any conflicting state laws.
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When jeff bezos founded amazon.com in 1994, he was laying the foundation for the world’s largest __________, because amazon.com uses the internet to make its products and services available to its consumers?
I believe the answer is: Electronic marketing channel
Electronic marketing channel refers to a digitized market p[lace where people could purchase goods/services without actually going to the physical store. in the past, amazon.com only exist to market books as its sole product.
Now, it is regarded as the largest electronic marketing channel in the world which offers the most complete collection of goods and services, followed closely by alibaba.com
What types of services or support would help betty be more comfortable with having jake in her classroom full-time?
Final answer:
To make Betty comfortable with having Jake in her classroom, implementing a behavioral plan, establishing a peer support system, using inclusive teaching strategies, and offering professional development for teachers on accommodating students with attentional challenges are effective strategies.
Explanation:
Support Services for Betty to Accommodate Jake in Her Classroom
Ensuring Betty feels comfortable with having Jake in her classroom full-time involves implementing supportive strategies that cater to Jake's needs while maintaining a positive learning environment for all students. Jake's behavior, such as difficulty staying seated and becoming easily distracted, suggests a need for tailored interventions.
Behavioral Plan: Develop a structured behavioral plan with clear expectations and rewards for staying on task. This plan would benefit Jake by providing him with the structure he needs and would reassure Betty by minimizing classroom disruptions.Peer Support: Incorporate a system where classmates can assist Jake in staying focused, such as a buddy system. This encourages inclusivity and helps Betty see the benefits of peer support.Inclusive Teaching Strategies: Use teaching methods that engage students in various ways (e.g., visually, kinesthetically) to accommodate different learning styles. This not only supports Jake's learning but also enhances the educational experience for the entire class.Professional Development: Provide Betty and other teachers with training on how to effectively support students with similar challenges as Jake. Understanding effective methods for engaging and managing students with attention-related challenges could help Betty feel more confident and prepared.By implementing these strategies, Betty can be more comfortable with Jake's presence in her classroom, knowing she has the tools and support to address his needs and foster a positive learning environment for all.
Deer consume 10,000 kg of grass per month, and their secondary production is 2,000 kg per month. if their assimilation efficiency is 50%, what is their production efficiency?
Hugh akston took out a 30 year mortgage with an ear of 5.9%. if hugh borrowed $300,000 to buy his home, then his monthly payment will be closest to:
Answer:
Monthly payment = $1,779.41
Explanation:
A mortgage is a a form of loan that is secured on a specified property that the debtor with predetermined periodic payments over a fixed period of time.
Here is the formula for calculating Hugh's monthly repayment
[tex]\\P[\frac{r(1+r)^n}{((1+r)^n)-1)}][/tex]
Explanation of the terms below
P = Loan amount. M = Monthly mortgage payment. r = Interest rate. Which has to be recalculated to monthly. Therefore monthly rate[5.9% expresssed in percentage] = [tex]\frac{0.059}{12}[/tex] = 0.004917n = number of payments. This is the loan term. Therefore our N = 30 years by 12 months = 360.Fitting into the formular:
[tex]\\300000 * \frac{0.004917(1+0.004917)^'360'}{(1+0.004917)^'360'}-1[/tex]
Which is = $1779.41 monthly
While sales contests can motivate employees at all levels to participate, a disadvantage of this method of sales promotion is that?
An individual who wants others to pay for public goods, but plans to use those goods without paying, is often referred to as a ________.
allison's auto art is a company that applies pinstripes to vehicles. allison's cost for a basic 1minus−color pinstriping job is $35, and she charges $95 for this service. for a total price of $175, allison will apply a fancier 3minus−color pinstripe application to an automobile, a service that adds an additional $40 to the total cost of the package. what is the marginal cost of moving up from the 1minus−color application to the 3minus−color application?
The marginal cost of upgrading from a 1-color pinstriping application to a 3-color application at Allison's Auto Art is $40, which is the additional amount charged for the fancier service.
Explanation:The student is asking about the marginal cost when upgrading from a 1-color to a 3-color pinstriping service. To find the marginal cost, we should calculate the difference in cost between the two services. The cost for a 1-color pinstriping job is $35 and the charge of the service is $95. For a 3-color pinstripe, the cost is not directly given, but it adds an additional $40 to the total price, which is $175.
The cost for the 3-color service can be calculated as:
Cost of 3-color pinstripe = Cost of 1-color pinstripe + Additional cost
= $35 + $40 = $75
Therefore, the marginal cost for the additional colors, which is the difference between the cost of 3-color and 1-color service, would be:
Marginal Cost = Cost of 3-color pinstripe - Cost of 1-color pinstripe
= $75 - $35 = $40
The marginal cost of upgrading to the 3-color pinstriping application is therefore $40.
Simon recently received a credit card with an 18% nominal interest rate. with the card, he purchased a new stereo for $350. the minimum payment on the card is only $10 per month. if simon makes monthly payments of $30, how many months will it be before he pays off the debt? round to the nearest month.
Final answer:
This detailed answer explains how to calculate the number of months Simon needs to pay off his credit card debt, considering interest and monthly payments.
Explanation:
Simon recently received a credit card with an 18% nominal interest rate. He purchased a stereo for $350 and has a minimum payment of $10 per month. If Simon pays $30 monthly, we need to calculate the number of months to pay off the debt. To pay off the debt, we must consider the interest. For each month, interest is calculated on the remaining balance. Once the monthly payment exceeds the interest accrued, the remaining amount goes towards reducing the principal balance.
Using this information, we can determine the number of months Simon needs to pay off his debt with the higher monthly payment. Finally, we can calculate the time it will take Simon to pay off the debt by considering the interest and reducing the principal amount with each payment. By dividing the remaining balance by the excess payment Simon makes each month, we can find the closest whole number of months needed to clear the debt, rounding up if necessary.
If the steel industry argues for tariff protection by saying that steel is necessary to build military vehicles, it is using the:
The correct answer to this is the:
“National Defense Argument”
Tariff is the tax imposed on imports. This is used to specifically limit or restrict trade since they increase the price of the imported goods and services. Since steel is primarily used in the manufacture of military weapon and vehicles, restricting the trade might be detrimental to the nation especially if there is a trade disruption due to war.
If you could borrow all the money you need for a project at 6.5%, does that mean that the cost of capital for this project is going to be 6.5%?
Which historical style period lasted less than 100 years?
The Renaissance and the Baroque are examples of historical style periods that lasted less than 100 years. These periods, occurring between 1400 and 1600 AD, and late 16th century to 1740s respectively, were marked by significant cultural, artistic, and intellectual changes.
Explanation:In history, there are several style periods that lasted less than 100 years, but a notable example is the Renaissance. The Renaissance style period was characterized by a revival of interest in the classical learning of Greece and Rome and took place approximately between 1400 and 1600 AD, making it last less than 200 years. Specifically, the High Renaissance, which saw the masterworks of artists such as Michelangelo and Leonardo da Vinci, was a much shorter period, lasting from about 1490 to 1527.
Another example could be the Baroque period that followed the Renaissance, characterized by exaggerated motion and clear, easily interpreted detail to produce drama, tension and grandeur in sculpture, painting, literature, dance, and music. The Baroque period lasted from the late 16th century until the 1740s.
Each of these historical style periods were characterized by unique artistic, cultural, and intellectual tendencies and innovations, influencing significant developments in areas such as art, music, architecture, and politics among others.
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A climograph a. is an imprecise display of data. b. is usually in the form of a map. c. can be used to classify climate. d. does not appear in the textbook. e. cannot be constructed for most places in the world.
The correct answer is c. can be used to classify climate.
A climograph is a type of graph that displays climate data, typically showing the relationship between temperature and precipitation. It is a precise tool for displaying data, not imprecise, so option a is incorrect.
Climographs are not maps, but they can be used to represent climate data for different regions, which may then be plotted on a map, making option b incorrect. They are specifically designed to classify climate based on the patterns they reveal, which supports option c.
Since climographs are a recognized tool in climatology, they do appear in textbooks, making option d incorrect. Lastly, climographs can be constructed for most places in the world where climate data is available, so option e is also incorrect.
There are few industries that have such a wide range of salaries as the entertainment industry. salaries spread from those for the "dollar a holler" commercial voiceovers to the multi-million dollar movie stars. obviously there is little ___________ in hollywood.
The art of getting the greatest benefit from limited financial resources is called A. inflation. B. financial management. C. marketing. D. profit.
Financial management involves optimizing financial resources to maximize benefits and minimize losses within a business amidst economic fluctuations.
Financial management is the art of getting the greatest benefit from limited financial resources. It involves making strategic decisions on how to allocate funds to maximize profits and minimize losses within a business.
For example, a firm can leverage inflation by paying bills and wages as late as possible to pay in inflated dollars, while focusing on collecting revenues promptly to mitigate losses.
Inflation can impact businesses' financial decisions, highlighting the importance of effective financial management to navigate economic fluctuations and maintain profitability.
The correct answer is (B) Financial management.
Assume that the supply curve for corn is upward-sloping. in the market for corn, a primary input in the production of ethanol, total surplus _____ when the price of ethanol increases.
Why are some economists concerned about the proliferation of regional trade agreements? regional trade agreements terms can conflict with those of the wto. regional trade agreements may limit trade from outside the regions in agreement. regional trade agreements make the economies of partner nations more independent of each other. previousnext?
Infrastructure is: question 13 options: not important in a market-based economy. a country's public capital. typically better when provided by private companies. unimportant for economic growth because the government provides it.
In the summer, ben often jogs during the middle of the day. when he exercises in these conditions, he sweats heavily. the recommended way for ben to maintain his fluid balance is to