Answer:
A
Explanation:
By definition, open-market operations change the monetary base.
In this exercise, the Fed engages in open-market purchases, which means that the Fed expands the amount of money in the banking system. Therefore the monetary base will increase by an amount equal to the amount of open-market purchases.
So monetary base will increase by $3 billion.
How much consumer surplus will she enjoy? Assume that the student will purchase bags up to, but not including, the point at which she incurs a loss of consumer surplus. $ in consumer surplus.
Answer:
The student must purchase the number of items in which the price exceeds the ability of the student to pay.
The number of bags he will purchase at the price of $4, is 2, because the willingness to purchase is $4.
The solution is therefore 2 sachets of jelly beans.
Whenever the student eats 2 bags of jelly beans at $4, the consumer surplus is determined as follows;
Consumer Surplus
= ($5-$4) + ($4-$4)
= $1.
Final answer:
Consumer surplus measures the difference between what consumers are willing to pay and what they actually pay, indicating the monetary gain from transactions. Scenarios provided show no consumer surplus, meaning consumers pay the value they place on the products. Calculating changes in surplus requires information on consumer valuation and price changes.
Explanation:
Consumer surplus is a key concept in microeconomics that measures the difference between what consumers are willing to pay for a good or service and what they actually pay. To calculate consumer surplus, we subtract the purchase price from the value the consumer places on the product. For example, if a consumer values a sandwich at $12 but pays $8, the consumer surplus is $4. This idea extends to market transactions where multiple units are purchased, and the surplus can additionally be analyzed in scenarios where prices change or different quantities are bought.
In the scenarios provided, it's indicated that the consumer surplus is $0 across different bundle sizes and prices. This suggests that in these cases, consumers are paying exactly what they value the bundles at, leaving no surplus. However, when considering individual transactions where a consumer values the product more than its price, like the sandwich example, the surplus is tangible. Calculating changes in consumer surplus due to price adjustments involves comparing the surplus before and after the price change.
For example, if the market price of a product is $20 and increases by $5, to calculate the change in consumer surplus, we would need information on consumers' valuation of the product at these prices. Unfortunately, without specific valuations or demand curve data for the increase scenario, we cannot calculate the exact change.
On November 1, 2016, Cherry Industries, which uses a calendar year as its fiscal year, signs a $12,000, 7%, six-month note payable. Journalize the entry to record the payment of the note and entire interest on May 1, 2017.
Answer: please check the explanation section
Explanation:
note payable = 12000
interest expense = 12000 x 7/100= 840 x 6/12 = 420.
The journal entry for the payment of the 7 % note payable liability on 1 May 2017
Dr Interest Expense 420
Dr Notes Payable 12000
Cr Bank 12420
The rental income generated by a lease can depend significantly on the proportion of property-level operating expenses paid by the tenant. In which of the following types of leases is the tenant responsible for all operating expenses?1. Gross lease2. Net lease 3. Net-Net lease4. Triple net lease
Answer:
4) Triple net lease
Explanation:
In a triple net lease (NNN lease), the tenant is responsible for all the expenses related to the leased property including property taxes, maintenance fees, reparations and property insurance. NNN leases are usually commercial leases only.
The landlord's disadvantage with a NNN lease is that the monthly lease payment tends to be lower since the tenant assumes all the costs related to the leased property. On the other hand, a NNN lease generally provides a stable cash flow, so its associated risk is lower.
In order to attract younger customers to the Lacoste brand of clothing, CEO Robert Siegel made all of the major decisions in product planning, distribution, and promotion. He asked for no input from his employees. Siegel used a(n) _____ style to increase Lacoste's sales.
Answer:
autocratic
Explanation:
The autocratic leadership style refers to a management style where all the important decisions are made by one single person, the leader. He/she will not even bother to ask their subordinates about their own ideas, they only trust their own judgment and generally refuse to take advice from others.
Final answer:
Robert Siegel used a centralized leadership style to revitalize the Lacoste brand, making all major decisions independently to target a younger audience. This differs from the approach of other companies that adopted team-based and horizontally structured organizations, resulting in increased productivity and sales growth.
Explanation:
In the context of Lacoste's strategy to attract younger customers, CEO Robert Siegel adopted a centralized leadership style. This approach involved making all key decisions unilaterally regarding product planning, distribution, and promotion without seeking input from his employees. In contrast, other companies such as Schneider Electric and Chico's have embraced team-based and horizontal organizational structures, empowering employees with decision-making capabilities, which led to increased productivity and substantial growth. Similarly, Mike Jeffries at Abercrombie & Fitch strategically marketed the brand to a specific demographic to enhance the brand's appeal and increase sales.
For a particular competitive firm, the minimum value of the average variable cost (AVC) is $12 and is reached when 200 units of output are produced. For the same firm, the minimum value of the average total cost (ATC) is $15 and is reached when 230 units of output are produced. Which of the following statements is correct?
a. In the short run, the firm will shut down if the price of its product is $11.
b. In the long run, the firm will shut down if the price of its product is $14.
c. If the price of its product is $12, then the firm's loss if it produces 200 units of output is the same as its loss if it shuts down.
d. All of the above are correct.
its D i am 100% sure1
Answer:
d. All of the above are correct.
Explanation:
The following statements is correct are :
A) In the short run, the firm will shut down if the price of its product decreases by $11 .
B) In the long run, the firm will shut down if the price of its product is decreased by $14.
C) The minimum value of variable cost equals the variable cost of producing 1 single unit, not the variable cost of producing 200 units.
Thus, all the statements are correct.
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A company is recording the disposal of accounts receivable with two different transactions. One transaction affects the balance of two asset accounts and one stockholders' equity account, whereas the second transaction affects one asset account and two stockholders' equity accounts. Which of the following most accurately describes these transactions?
The first transaction records the sale of accounts receivable to a factor, whereas the second transaction records a sale that was paid using a national credit card.
The journal entry for the sale of receivables to a factor requires a debit to Cash (asset), a debit to Service Charge Expense (stockholders' equity), and a credit to Accounts Receivable (asset). Therefore, it affects two asset accounts and one stockholders' equity account. In contrast, the journal entry for a sale paid with a national credit card requires a debit to Cash (asset), a debit to Service Charge Expense (stockholders' equity), and a credit to Sales Revenue (stockholders' equity). Therefore, it affects one asset account and two stockholders' equity accounts. A sale made with a store credit card does not dispose of accounts receivable; instead, it increases Accounts Receivable and increases Sales Revenue.
The following statements more accurately describe the transactions:
- The first transaction records the sale of accounts receivable to a factor, whereas the second transaction records a sale that was paid using a national credit card.
- The journal entry for the sale of receivables to a factor requires a debit to Cash (asset), a debit to Service Charge Expense (stockholders' equity), and a credit to Accounts Receivable (asset). Therefore, it affects two asset accounts and one stockholders' equity account. In contrast, the journal entry for a sale paid with a national credit card requires a debit to Cash (asset), a debit to Service Charge Expense (stockholders' equity), and a credit to Sales Revenue (stockholders' equity). Therefore, it affects one asset account and two stockholders' equity accounts. A sale made with a store credit card does not dispose of accounts receivable; instead, it increases Accounts Receivable and increases Sales Revenue.
Explanation:
The assets owned by the company are recorded in the form of account known as asset account. Capital expenditures are debited to an asset account, and the expenditure is said to be capitalized. If the owner of the business increases the assets amount, the asset account will also be increased.
Equity account illustrates the financial representation of the ownership of a business. The payment made by the owner to the business or the earnings that are generated by the business are considered as equity. As the equity funds come from different sources, the equity is stored in multiple types of accounts.
A man, who looked about 45 years old, gave a cashier at a grocery store the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC) vouchers for some of the food he had just selected. Which conclusion can be drawn from this scenario?
Answer:
He has a teenage daughter that was pregnant or with a little child.
Explanation:
The Special Supplemental Nutrition Program for Women, Infants, and Children (WIC) vouchers are vouchers provided by the federal government to states to ensure that low income pregnant teenager or women, infants and children have access to supplemental food, healthcare, etc. This is in a bid to ensure that every pregnant woman, their children or infants are well taken care of and have access to better health system among other things.
These vouchers cater for over millions of people through their over 40,000 merchants all over the world.
Cheers.
Answer:
he has a child that is less than 5 years old
Explanation:
The WIC program was first set up by the US federal government in 1975 and is carried by the US department of Agriculture. There are four basic requirements that applicants for WIC must pass before obtaining any aid:
Categorical : only pregnant women and up to 6 weeks after giving birth, infants and children up to 5 years old.Residential : must live in the state at which they apply.Income : every state sets an income threshold level for WIC applicantsNutrition Risk: a health professional must determine that the applicant is under nutritional risk and therefore, needs assistance by the WIC program.In the US the average age for a first time father is 31 years old, so a man that appears to be 45 can easily be the father of a small child. The average age of a grandfather is 52. Biologically you can be a grandfather at 45, and even younger, but it is not normal, nor recommendable.
Three sources of flexibility in completing primary and support activities are particularly useful for firms using the integrated strategy. These are:______.a. flexible manufacturing systems, re-engineering, and total quality management. b. outsourcing, re-engineering, and flexible manufacturing systems. c. outsourcing, total quality management, and information networks. d. flexible manufacturing systems, total quality management, and information networks.
Answer: option (A). flexible manufacturing systems, re-engineering, and total quality management.
Explanation: Three sources of flexibility in completing primary and support activities are particularly useful for firms using the integrated strategy. These are :- Flexible Manufacturing Systems, Reengineering, and Total Quality Management.
Consider the following case: Andre is an amateur investor who holds a small portfolio consisting of only four stocks. The stock holdings in his portfolio:Stock Percentage of Portfolio Expected Return Standard DeviationArtemis 20% 8% 38%Babish 30% 14% 42%Cornell 35% 11% 45%Danforth 15% 5% 47% What is the expected return of Andre's portfolio?Suppose each stock in the preceding portfolio has a correlation coefficient of 0.4 with each of the other stocks. The market's standard deviation is around 20%, and the weighted average of the risk of the individual securities in the partially diversified portfolio of four stocks is 35%. If 40 additional, randomly selected stocks with a correlation coefficient of 0.3 with the other stocks in the portfolio were added to the portfolio, what effect would this have on the portfolio's standard deviation?
Answer:
answer is attached in figure below
Explanation:
Even though he is not a manager, Mr. Brate is the one to see in the company when there is something you need. He will get it quickly, and can avoid the red tape that often delays action. Mr. Brate is also the one to see if you need advice or help. Mr. Brate is an important member of the firm's _________.
Answer:
Informal organization
Explanation:
The informal organization is the interlocking social structure that governs how people work together in practice. It is the aggregate of norms, personal and professional connections through which work gets done and relationships are built among people who share a common organizational affiliation or cluster of affiliations. It consists of a dynamic set of personal relationships, social networks, communities of common interest, and emotional sources of motivation. The informal organization evolves, and the complex social dynamics of its members also.
Mr. Brate exemplifies the vital role of informal organization in a company, using his networking skills to facilitate tasks and sidestep bureaucratic delays. His role underlines the importance of interpersonal relationships in achieving business objectives.
Explanation:Mr. Brate is an important member of the firm's informal organization. Even though he is not a manager, his ability to efficiently obtain resources and provide advice or help makes him a valuable asset. He plays a crucial role in the networking within the company, acting as a facilitator for tasks that might otherwise be bogged down by bureaucracy. This sort of role is key in the context of business operations because it emphasizes the importance of interpersonal relationships and the ability to navigate organizational structures to achieve objectives. According to the given statement, Mr. Brate exemplifies how vital informal connections are within a company’s ecosystem, particularly when dealing with project facilitation and problem-solving.
Marcy's mother, Sue, did not want her to date until she was older. She also wanted Marcy to attend law school. Just before Marcy started her freshman year in college, Sue told Marcy that if Marcy would refrain from dating until she received her law degree, then Sue would pay off all of Marcy's school loans and throw in an extra $50,000. Marcy agreed and stated, "Thanks, Mom; when I graduate, I'm throwing you a big party for all you have done for me!" Sue smiles and hugs Marcy. Marcy finished law school and asked for payment of her loans, the $50,000 in cash, and for a car. Sue said, "No way—I know you went out on some dates during law school, and I never agreed on the car." Marcy said those were just study nights and that her mother had never objected to Marcy's frequent statements that she wanted a car upon graduation. Sue asks about the party. Marcy tells her that she is nuts because there is no way Marcy can afford a party since Sue has backed out of the deal. After some serious negotiation, Marcy and Sue settled their dispute with Sue agreeing to pay for half of Marcy's school loans and for all of the expenses of Marcy's upcoming wedding; Sue also agreed to forget about Marcy throwing a party for her. Was there sufficient consideration to support Marcy's agreement to throw a party for Sue?
A) Yes, sufficient consideration was present.
B) No, there was insufficient consideration because Sue did not promise anything in exchange.
C) No, there was insufficient consideration because Marcy's agreement was illusory.
D) No, because throwing a party is not of a monetary value such as to constitute consideration.
E) No, because close relatives are involved.
Answer:
B) No, there was insufficient consideration because Sue did not promise anything in exchange
Explanation:
Remember, in law for there to be consideration there must be something of value (between the parties concerned, which is exchanged for the performance or promise of performance by the other party (such performance itself is consideration).
Thus, it could be said that Marcy's agreement to throw a party for Sue lacked insufficient consideration since there was no stated value because Sue did not promise anything in exchange.
Valerie contracts with Esteban, who agrees to build a stone retaining wall and drain on her property. The wall and drain are necessary to prevent erosion of her land, which is falling into the creek on her property at a rapid rate. If Esteban breaches the contract, Valerie is under a legal obligation to:__________.
a. wait until Esteban is prepared to build the wall and drain.
b. mitigate her damages.
c. do nothing, because she is the innocent party and thus has no legal duties.
d. absorb all of the costs associated with the property erosion caused by Esteban's breach.
Answer:
The correect answer is b. mitigate her damages.
Explanation:
The duty to mitigate damages, also called the duty of cooperation or obligation for itself, constitutes a limit to the protection of the right of the affected party with the breach in regard to the amount of compensation, which arises after the cause of the damage.
This legal figure imposes on the creditor the duty to take reasonable measures at its disposal to reduce the damage arising from the breach of contract and, correspondingly, abstain of those unreasonable that can increase it. This means that the mitigation duty operates as a disincentive mechanism to the passive or negligent attitudes of the creditor in the face of default, and prompts him to prevent the aggravation of the damage.
ABC Company has a pretax loss on Division X, a held-for-sale component, of $50,000. ABC Company is subject to a 30% income tax rate. What is ABC Company's after-tax loss on Division X?
Answer:
$35,000
Explanation:
Data provided in the question
Pre tax loss on sale of a component = $50,000
Income tax rate = 30%
So, the after tax loss on Division X is
= Pre tax loss on sale of a component - Pre tax loss on sale of a component × income tax rate
= $50,000 - $50,000 × 30%
= $50,000 - $15,000
= $35,000
We deduct the income tax rate from the pre tax loss so that the after tax loss could come
What variables have to be considered in designing the organizational structure for international operations? how do these variables interact, and which do you think are most important? 2. explain the need for an mnc to "be global and act local." how can a firm design its organization to enable this? 3. what is a transnational organization? since many large mncs are moving toward this format, it is likely that you could at some point be working within this structure. how do you feel about that? 4. discuss the implications of the relative centralization of authority and decision making at headquarters versus local units or subsidiaries. how would you feel about this variable if you were a subsidiary manager?
A company can be a MNC's only if the entity has sufficient funds to rely back upon
Explanation:
1. Operating cost , Product demand . As these variables help the company to have decision making for the working of the Business
2. Need- Most important is to reach out to the demand of the customers geographically .
3, Transnational Organisation- They are those that " transcend" the idea of nation state.
4. As a Subsidiary Manger delegation of Decision-Making should depend upon the size and the type of organisation.
Key considerations for an international organizational structure include strategic goals, product diversification, market complexity, cultural differences, and coordination needs. The concept of 'be global and act local' refers to the need for a transnational structure, striking a balance between global efficiency and local responsiveness. The centralization or decentralization of authority can vary depending on a company's specifics and the needs of local managers.
Explanation:When designing an organizational structure for international operations, several variables need to be considered. These include the company's strategic goals, the level of product diversification, the markets' complexity and diversity, regulations, cultural differences, and the communication and coordination needs between the headquarters and subsidiaries.
These variables interact in complex ways. For instance, a company with high product diversification might need a more decentralized structure to respond to different market demands. Cultural differences and regulatory constraints might also require adaptations at the local level.
The need for companies to 'be global and act local' is encapsulated in the concept of glocalization. This requires an organization to have a standard global approach while being flexible enough to adapt to local conditions. This can be achieved through a transnational organizational structure, where decision-making, resources, and responsibilities are distributed among multiple foreign operations.
A transnational organization is characterized by an integrated network of global subsidiaries. Many multinational companies (MNCs) are moving towards this structure, as it allows a balance between efficiency, local responsiveness, and learning innovation benefits from various subsidiaries.
The implications of relative centralization versus decentralization largely depend on the size and scope of the organization's operations. In my opinion, as a subsidiary manager, I would prefer a certain degree of autonomy in decision-making. But a trade-off exists, as local managers need coordination and support from headquarters.
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You can still use deferment or forbearance options after your loans are in default. True or False
Answer:
true
Explanation:
true
False. You cannot use deferment or forbearance after a student loan is in default; this is false. Loan servicers, due to their profit-oriented nature, are not forgiving of defaults. However, options like loan rehabilitation or consolidation can help restore eligibility for these programs in the future.
It is false that you can still use deferment or forbearance options after your loans are in default. When a student loan goes into default, the borrower loses eligibility for these options, which are intended to provide temporary relief from loan payments. Before a loan defaults, it's crucial to contact your loan servicer, the for-profit company that collects payments and maintains records for the Department of Education, to explore these options or to discuss alternative repayment plans.
Loan servicers, as for-profit entities, prioritize their profits and are tasked with ensuring the repayment of student loans. As such, they are not typically forgiving once a loan has reached default status, focusing on their contracts' profitability.
That being said, if your loan has defaulted, there are still steps that can be taken, such as loan rehabilitation or consolidation, which can help return the loan to good standing, thereby restoring eligibility for programs like deferment and forbearance in the future.
Mariah was born in 1993. When she graduated from college, she got a job working for a small advertising company. Although the salary isn't what she expected, she likes that the company favors advancement, recognition, and improved capabilities. She also likes that her company allows her to work remotely two days per week. What generation does Mariah belong to?
Answer:
Millennials.
Explanation:
Millennials is the general term for people that are born in the 1980s and 1990s. Sometimes children born in the early 2000s are also included.
Millennials are also called generation Y and comes after generation X (1960s to 1980s).
These class have been characterised as being lazy, as is seen Mariah likes the fact that she can work from home.
They are also narsicistic, less concerned about helping the larger community, and prone to jump from one job to another.
They have positive attributes of being open minded, confident, self-expression, and liberal.
Which of the following statutes applies to the hacking of another's computer or accounts? a. CAN-SPAM b. The Stored Communications Act c. The Unauthorized Access Computer Crimes d. Electronic Privacy Communications Act
Answer:
C. The Unauthorized Access Computer Crimes
Explanation:
Unauthorized access involves trespassing and accessing private information or data on a system without the consent of the computer user or owner. The unauthorized access computer crimes statutes accounts for hacking of another person's computer.
This makes it illegal and punishable under to law to access an individual's computer whether through remote access or internet access without the permission of the owner.
Rob Bill Berries 20 30 Fish 80 60 Rob Crusoe and Bill Friday spent their week-long vacation on a desert Island where they had to find and prepare their own food. Rob and Bill spent one day each fishing and picking berries. The table lists the pounds of output Rob and Bill produced. Use the table above to select the statement that accurately interprets the data in the table. A) Rob has an absolute advantage in picking berries and Bill has an absolute advantage in catching fish. B) Bill has an absolute advantage in picking berries and Rob has an absolute advantage in catching fish. C) Bill has an absolute advantage in picking berries and catching fish. D) Rob has an absolute advantage in picking berries and catching fish.
Answer:
B) Bill has an absolute advantage in picking berries and Rob has an absolute advantage in catching fish.
Explanation:
Absolute advantage in the manufacturing of a product means that more of that products are produced by the nation when compared with other countries with current or available resources.
Rob and Bill spent one day picking berries and catching fish here in the above scenario. Bill has picked more berries than Rob has. Rob caught more fish than Bill did.
When Dr. Footcare developed and launched a revolutionary new walking shoe, he knew that during the introductory stage of the product life cycle (PLC) __________.
Answer:
needs a rapid skimming
Explanation:
Rapid skimming: Launching the product at a high price and high promotional level.
The product introduction phase generally includes a substantial investment in advertising and a marketing campaign focused on making consumers aware of the product and its benefits. Assuming the product is successful, it enters its growth phase. Demand grows, production is increased, and its availability expands.
During the introduction stage, you should aim to:
Establish a clear brand identity Connect with the right partners to promote your product Set up consumer tests, or provide samples or trials to key target markets Price the product or service as high as you believe you can sell it, and to reflect the quality level you are providingQ: Lisa sells 10 bottles of homemade ketchup for $10 each. The cost of the ingredients, the bottles, and the labels was $70. In addition, it took her 2 hours to make the ketchup and to do so she took time off from a job that paid her $10 per hour. Lisa's accounting profit is ............ while her economic profit is ..............
Answer:
Accounting Profit = $100
Economic profit = $80
Explanation:
Given that
Sales = 10
Cost = $10
The calculation of accounting profit and economic profit is shown below:-
Accounting Profit = Sales × Costs
= 10 × $10
= $100
For calculating accounting profit we simply multiply sales with costs.
Economic profit = Accounting profit - Opportunity cost
= $100 - 2 × $10
= $80
For calculating the economic profit we simply deduct the opportunity cost from accounting profit.
What is the remaining balance on a 30-year, $400,000 mortgage after 70 months? Assume monthly payments and a nominal rate (monthly compounding) of 5.90%.
Answer: The loan balance after 70 months will be $ 366184.45
Explanation:
r = 0.059/12
Present Value (Pv) = 400000
n = 30 x 12 = 360
Monthly Payments = rPv/(1 - (1+r)^-n)
Monthly Repayments = (0.059/12) x 400000/(1 - (1+0.059/12)^-360)
Monthly Repayments = 1966.66664/0.828926661 = 2372.5460074
Monthly Repayments = 2372.55
Loan Balance = PV(1+r)^n - P((1+r)^n - 1)/r
= 400000(1+0.059/12)^70 - 2372.55((1+0.059/12)^360 -1)/0.059/12
= 563849.79539 - 197665.34102 = 366184.4543
The loan balance after 70 months will be $ 366184.45
Brennan Corporation's WACC is 10.00%, its end-of-year free cash flow (FCF1) is expected to be $75.0 million, the FCFs are expected to grow at a constant rate of 5.00% a year in the future. The company has 20 million shares of common stock outstanding. What is the firm's estimated intrinsic value per share of common stock? Assume the firm has no debt or preferred stock outstanding.
Answer:
$75 million
Explanation:
Firm's value = FCF1 / WACC - growth
Equity Value = Firm's value - Debt value
Intrinsic value per share = Equity Value / Number of shares
Therefore Firm's value = $75.0 million / (0.10 - 0.05) = $1,500 million
Equity Value = Firm's value - Debt value = $1500 - 0 debt = $1,500 million
Intrinsic value per share = Equity Value of $1500 / 20 million shares =
$75 million
Answer:
$75 per stock
Explanation:
we can use the Gordon growth model to determine the price of the company:
company's total value = future cash flow / (WACC - growth rate)
company's total value = $75,000,000 / (10% - 5%) = $75,000 / 5%
company's total value = $1,500,000,000
to determine the price of each stock:
stock price = company's total value / total stocks outstanding
stock price = $1,500,000,000 / 20,000,000 million stocks = $75 per stock
A sales clerk enters a customer's six-number customer account. The computer program uses the first five numbers to calculate a sixth number. This resulting number is then compared to the sixth number entered by the sales clerk. This is an example of a:_________________.1. Valid character test2. Missing data test3. Reasonableness test4. Checklist
Final answer:
The example you provided is an example of a Reasonableness test. In this case, the computer program uses the first five numbers entered by the sales clerk to calculate a sixth number and compares it to the sixth number entered by the sales clerk. If they are reasonably close, it is considered a valid entry.
Explanation:
The example you provided is an example of a Reasonableness test.
In this case, the computer program uses the first five numbers entered by the sales clerk to calculate a sixth number. The resulting number is then compared to the sixth number entered by the sales clerk. If the calculated number and the entered number are reasonably close, it is considered a valid entry.
For example, if a sales clerk enters the customer account numbers 123456 and the program calculates the sixth number as 7, the sales clerk should enter 7 as the sixth number. If the calculated number and the entered number are significantly different, it may indicate an error in data entry.
Levi owns a store that sells cooking products to end consumers. He has worked with the same supplier for many years and trusts him completely. Whenever Levi needs to order new inventory from his supplier, he sends him information specifying the type of product, the quantity, the color, and some general quality characteristics. Levi has been with his supplier for years and knows how thorough he is. Finding defective products are so rare that Levi doesn't even bother examining the shipment, other than to make sure the products adhere to the standards specified. Refer to Scenario 8.1. Levi is getting ready to order another shipment of frying pans. However, he wants to switch from cast iron to aluminum. What type of purchase is Levi using?
Answer:
modified rebuy
Explanation:
A modified rebuy takes place when a buyer decides to make another purchase form his/her usual vendor, but the new purchase includes some different items or different characteristics than previous purchases. In this case, Levi is modifying the characteristics of the goods that he usually purchases from his usual vendor.
Astrid, a customer service representative with NorthTel Wireless Services, was asked by one of her customers if NorthTel would be interested in joining the chamber of commerce to meet potential customers and increase its contacts in the local business community. Astrid believes this is a very good idea and approached her manager, DeShawn, about becoming a chamber member. DeShawn said to Astrid, "Because the cost of membership is over $500 and you will have to leave the office to attend meetings, I will have to get approval from management above me." NorthTel is an example of an organization with:________.
a. work specialization.
b. unity of command.
c. line managers.
d. centralized authority.
e. decentralized authority
Answer:
NorthTel Wireless Services is an example of an organization with option B) Unity of Command
Explanation:
Unity of Command is a management theory that is used by small, medium, large scale businesses and government. It has a lot of advantages in comparison with others like Centralized, decentralized, line managers and work specialization.
Unity of command provides that an employee is responsible to only one supervisor, who in turn is responsible to another supervisor, and so on up the organizational hierarchy.
To to demonstrate how unity of command works from the bottom up. Consider NorthTel Wireless Services where Astrid, a customer service represnetative answers to her manager, DeShawn who in turn answers to another supervisor and so on.
When you are at the bottom rung and you supervise no one. However, you do answer to your unit supervisor, who answers to her department manager. The department manager answers to the vice president of operations, who answers to the CEO. The CEO answers to the chairman of the board of directors.
Answer:
D) centralized authority.
Explanation:
An organization that operates under a centralized authority, is one where most decisions are taken by upper management only. In this case, DeShawn needs to request permission for joining the chamber of commerce, and it really isn't that expensive, but the company probably has very strict parameters about what decisions middle or lower management can make. Usually all decisions are made by a small group of people that work in the company's headquarters.
Centralized organizations are the opposite of decentralized organizations, where employees are empowered to make most of normal day to day decisions and middle and lower management are able to make decisions regarding minor issues like this one.
The relationship between the consumer's expectations and the product's ________ determines whether the buyer is satisfied or dissatisfied with a purchase.
Answer:
Perceived performance
Explanation:
Perceived perception is the customer's perception about a particular product based on the expectations they had before making purchase.
The relationship between the consumer's expectations and the product's performance determines buyer satisfaction.
Explanation:The relationship between the consumer's expectations and the product's performance determines whether the buyer is satisfied or dissatisfied with a purchase. When a product meets or exceeds the consumer's expectations, they are more likely to be satisfied. On the other hand, if the product falls short of their expectations, they may be dissatisfied.
For example, let's say a consumer buys a smartphone with high expectations for its camera quality. If the camera performs exceptionally well and meets or exceeds the consumer's expectations, they will likely be satisfied with their purchase. However, if the camera does not meet their expectations and the picture quality is poor, they may be dissatisfied.
In conclusion, the relationship between the consumer's expectations and the product's performance is crucial in determining customer satisfaction with a purchase.
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#SPJ12
The rule preventing recovery for reasonably avoidable damages is often called the duty to mitigate. True or false
Answer:
True
Explanation:
In contract law and civil law, the duty to mitigate damages refers to the duty that the individual responsible for the wrongdoing must carry out to limit the harm or injury caused by him/her. The duty to mitigate applies both for contract breaches and victims or torts.
When the increase in price for a new video game is 10%, the increase in quantity supplied of that new video game is 60%. What is the price elasticity of supply for that video game?
Answer:
Price elasticity of supply is 6.
Explanation:
Price elasticity of supply measures the responsiveness of supply to the change in the price of the product. We can calculate the price elasticity by following formula:
Price elasticity to supply = % Change in supply / % change in price
Price elasticity to supply = 60% / 10%
Price elasticity to supply = 6
Answer:
The price elasticity of supply of the video game is +6
Explanation:
Price elasticity of supply is used to show the responsiveness of the quantity of goods supplied by a producer to the changes in price. It essentially tells the ratio of the change in quantity supplied to the change in price. In reality, the Price elasticity of supply (PES) is never negative, but can be zero; perfectly inelastic to an infinity value; perfectly elastic.
mathematically, it is represented as;
PES = (% change in supply) ÷ (% change in price)
∴ PES = 60 ÷ 10 = 6 or +6
Two managers of a company have a conflict over resources required to complete their new projects. Both managers want the best employees of the firm to work in their projects. Eventually, they arrive at a decision where they equally share the number of top-performing employees. In the given scenario, which of the following methods have the managers used to resolve the conflict?
Answer: Integrated conflict management
Explanation: Integrated Conflict Management encourages alternative conflict resolution which strongly focuses on the interests and the needs of the people involved.
The people directly involved in the dispute are actively encouraged, supported, and prompted to take responsibility for managing their disputes.
Answer:
COMPROMISE
Explanation:
Conflict can be handled or resolved with strategies like: avoiding, defeating, compromising, accommodating, and collaborating.
Compromise is a big step toward conflict resolution, it is a situation where both parties look for a common ground. The concept of compromise is that everyone gives up a little bit of what they want, and no one gets everything they want.
Since the two managers arrived at a decision where they equally share the number of top-performing employees, therefore, the method the managers used to resolve the conflict is COMPROMISE.
Brenda, the district manager for Beautiful Florist, told the store managers in her district that she needs the sales goals for next year. A new manager, Paula, said, "I am going to sell over $100,000 in flowers next year." Brenda later told Paula that "I need to know specifically, in each category, how much you plan on selling." Brenda's request for a specific answer is an example of a:________.
Answer:
SMART goal
Explanation:
SMART is an acronym that is used to guide businesses in the process of setting it's goals.
The acronym stands for S- specific, does the goal have particular purpose.
M- measureable, is the goal something that can be measured.
A- attainable, is it realistic to achieve.
R- relevant
T- time bound, has a set timeline.
In this instance Brenda is using SMART goal technique to evaluate the statement made by Paula. She wants to find out if her goal is specific.