1. 1
Define the term social change and state TWO social changes you may
encounter as a student or as an employee next year. (1X2)
(3)
1. 2
Explain how you would deal with these social changes you have
identified in 1. 1. To counter any negative impact on your success as a
student/an employee.
(2 x 2) (4)
1. 3
Discuss THREE challenges you might face post-schooling that you
would turn into an opportunity
(3 x 2) (6)
1. 4
Indicate TWO ways that show the importance of finding a balance
between personal freedom and responsible social behaviour. (2 x 2) (4)
1. 5
Recommend ONE way in which you will adapt to your post-school
social routine to minimize the impact that social pressures may have
on your academic or work performance?
(1 x 3) (3)
[20]
2​

Answer: product user

The positioning base for a product or service focuses on a personality or type of consumer called the product user.

What is a product user? A product user is a method of positioning a product based on the type of person who would use it. For example, when targeting a certain demographic, a business might create an advertising campaign that appeals to that demographic's characteristics in order to draw them in.

Let's look at some examples:

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The increase in property values in the community can be accounted for by the presence of positive externalities. Hence correct option is A.

Externalities are costs or benefits that are not accounted for in the price of a product or service. In other words, they are not reflected in the market price. Externalities can be positive or negative. The benefits that a third party receives as a result of a transaction are referred to as positive externalities.

Positive externalities are advantageous for the entire community, not just for the people who directly benefit from them. This is because positive externalities spill over to the rest of the community, resulting in a general increase in well-being.

The neighborhood association has improved the community by constructing parks and bike paths, landscaping the entrance, and hosting 4th of July events that feature entertainers. All of these factors have had a positive impact on the neighborhood and contributed to the increased property values.

Hence option A. positive externalities is correct.

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The statement "Licensures make sure that employees have at least a minimally acceptable level of skill proficiency upon completion of a training unit." is true because it ensures that professionals have demonstrated a minimum level of competence in their field of study.

Licensure programs safeguard the public's health and well-being by ensuring that people who hold professional licenses have been trained and examined according to predetermined requirements.

Licensure refers to the process of granting licenses to individuals who have demonstrated a minimum standard of competency in a particular profession. Licensure is intended to guarantee the public that the practitioner is qualified to provide safe and effective services. Individuals who have obtained a license have met a minimum set of criteria established by the governing body. They have demonstrated competency through training and testing and have completed the education and experience required by the board or agency. Once licensed, practitioners must abide by the regulatory board's laws and ethics, as well as the profession's standards and rules.

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b. Assuming the income allocated to Sofia is not from a specified service trade or business, Sofia’s deduction for qualified business income would be $300,000. This is calculated by multiplying her 50% ownership of Beehive LLC ($600,000) by the total wages paid by Beehive LLC ($130,000) and her share in the unadjusted basis of qualified property used by Beehive LLC ($300,000), resulting in a total of $430,000. The deduction is then limited to 20% of her taxable income which would be $150,000, resulting in a deduction of $300,000.

c. Sofia’s net investment income tax liability would be $0. This is because her adjusted gross income (AGI) of $150,000 does not exceed the threshold of $250,000 for single filers, and she does not have any net investment income.

d. Sofia’s additional Medicare tax liability would also be $0. This is because her wages are below the threshold of $200,000 for single filers, and she does not have any other income sources. Therefore, she would not have to pay the additional Medicare tax.

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The Crusades were a series of religious wars fought between the Christian and Muslim kingdoms.

One of the main results of the Crusades was the development of new economic interests for Europe. Therefore, option 1, "the development of new economic interests for Europe," is the correct answer.

What were the Crusades?The Crusades were a series of military expeditions organized by the Catholic Church to recapture Jerusalem and other lands in the Holy Land from Muslim control, which was also known as the Holy War. The Crusades spanned from the eleventh century to the thirteenth century AD.

The Crusaders, who were Christian knights and soldiers, fought against the Muslim forces that ruled the Middle East. They fought for several reasons, including religious zeal, political reasons, and economic interests.

In addition to its religious significance, the Crusades have been viewed as a significant influence on Europe's political, economic, and social developments.

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Long tail marketing attempts to leverage the fact that there is always some demand, however small, for a product. The answer is option a.

Long tail marketing is a marketing strategy that emphasizes targeting niche markets or audiences with unique interests, needs, or tastes that are otherwise overlooked or underserved by mass-market or mainstream products or services. In this approach, businesses can cater to the individual needs and preferences of a smaller market, which might not be large enough to justify mass marketing or advertising budgets.

Long tail marketing is particularly useful for businesses that sell digital or online products, such as e-books, music, movies, or apps, that can be distributed cost-effectively through digital channels like the internet. In these markets, businesses can reach a global audience without the need for physical stores or sales staff. They can also reduce production, distribution, and inventory costs by selling digital products, which can be easily replicated and stored without physical constraints.

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The answer to the question about Zappos's use of holacracy, which enables employees to have autonomy over their work, is 'freedom.'

"Holacracy" refers to an approach to organizational management. It is a system of governance that is decentralized and emphasizes transparency and autonomy. Zappos is an online shoe retailer that has embraced holacracy as a management system that enables their employees to have autonomy over their work. Holacracy is based on the principle of distributed control. In a holacratic system, the decision-making process is decentralized, and individuals are given the authority to make decisions based on their area of expertise. Zappos has been able to foster a creative work environment by providing its employees with the freedom to be innovative and come up with solutions that best suit their work. Self-management is an essential element of holacracy. It enables employees to have the freedom to make decisions about their work, and they are encouraged to take ownership of their roles. This means that they are empowered to act as entrepreneurs and to be accountable for their decisions.

By doing so, they are motivated to be creative and to find ways to improve their performance, which leads to a more creative work environment. Zappos uses Holacracy as a management system to encourage creativity among employees. This has been achieved by giving employees the freedom to make decisions about their work, which allows them to be innovative and come up with solutions that best suit their roles.

Therefore, the correct answer is 'freedom.'

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The amount of revenue and gross profit (loss) recognized in 2024 are $2,640,000 and $0.2025 respectively, in 2025 are $4,910,000 and $30,000.2026 respectively, and in 2026 are $10,000,000 and $134,000 respectively.

The calculation of revenue and gross profit (loss) to be recognized in each of the three years is discussed below:

As the contract was entered in 2024, the percentage of work done would be (2,640,000 / 10,000,000) = 0.264 or 26.4%.

Revenue recognized would be 0.264 × $10,000,000 = $2,640,000.

Gross profit: Gross profit for the year 2024 would be $2,640,000 - $2,640,000 = $0.2025

As the work continues to be done, the revenue earned will be increased by the end of each year.

As of 2025, the percentage of work done would be (2,640,000 + 2,300,000) / 10,000,000 = 0.491 or 49.1%.

Revenue recognized would be 0.491 × $10,000,000 = $4,910,000.

Gross profit: Gross profit for the year 2025 would be $4,910,000 - [(2,640,000 + 2,300,000)]= $30,000.2026

As the work is completed in 2026, the percentage of work done is 100%.

Therefore, the revenue to be recognized would be $10,000,000.

Gross profit: Gross profit for the year 2026 would be $10,000,000 - [(2,640,000 + 2,300,000 + 2,926,000)] = $134,000.

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Answer:

false

Explanation:

During which part of the revenue recognition process does a change in control of the assets occur?The change in control of the assets occurs at the end of the revenue recognition process, and the revenue is recognized.

Revenue is recognized in the period when the work is done, and the money is exchanged for the services rendered. It is the fourth and final phase of the revenue recognition process. It is in this step where the recognition of the revenue is accomplished. This is achieved when the seller has passed control over the goods and services to the buyer. In order to recognize revenue, the following criteria must be met: the price of the goods or services has been agreed upon or is ascertainable, the seller's ability to provide the product or service has been demonstrated, and the seller has received payment or payment is expected to be received in the future. Hence, the correct option is option C, at the end.

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The cost of buying and selling a stock consists of broker's commissions and dealer's bid-asked spread.

The answer is    Option What is stock trading? Stock trading involves purchasing and selling shares of a publicly traded corporation on an exchange. Brokerages, stockbrokers, and brokerage firms provide investors with the necessary trading tools to buy and sell stocks. Stock trading includes a number of costs, including brokerage fees, dealer bid-asked spread, and price concessions an investor may be compelled to make. When purchasing and selling stocks, an investor must consider these expenses to determine the true cost of a trade. Therefore, the cost of buying and selling a stock consists of broker's commissions and dealer's bid-asked spread.

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early adopters are consumers who are among the first to buy a new product. They have several characteristics, including:

- They are less risk-seeking than innovators.
- They have less disposable income than innovators.
- They tend to be opinion leaders of a particular product category.
- They are youngest in age of all consumer category groups.

Therefore, the correct answer is:

- They are less risk seeking than innovators.
- They tend to be opinion leaders of a particular product category.
- They are youngest in age of all consumer category groups.

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Answer:

efficiency

Explanation:

meaning they are doing with in time which is one factor for productivity

Rationing was used by governments to ensure that everyone received a fair portion of food. People began engaging in illicit activities including buying and selling on black markets as a result of this action.

A rationing system often results in the formation of black markets because it creates an imbalance between supply and demand. When the government imposes restrictions on the supply of a particular good or service, there is often an increased demand for that item among consumers. This can lead to shortages, which in turn create opportunities for black market sellers to sell the restricted goods at higher prices.

Black markets can thrive because they offer consumers a way to obtain restricted goods that they might not be able to get through legal channels. Black market sellers may be willing to pay higher prices to obtain the restricted goods and then sell them at an even higher price to consumers who are willing to pay a premium for the product.

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The (A) nonrational models of decision making describe how managers actually make decisions.

These models recognize that decision making is often based on incomplete information, intuition, and personal biases, rather than a rational and systematic approach. Nonrational models include the political model, which emphasizes the importance of bargaining, negotiation, and power, and the garbage can model, which views decision making as a messy, unstructured process in which problems, solutions, and decision makers are constantly changing and interacting.

Therefore, the correct answer option is A.

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The cost of goods sold section of Gap Inc.'s 2015 income statement can be reconstructed by taking the merchandise inventory as of January 31, 2015 ($1,623) and adding it to the cost of goods purchased during the year.

Cost of goods available for sale is calculated by subtracting the merchandise inventory as of January 31, 2016 ($1,613) from the cost of goods available for sale.

Gap Inc.'s 2015 Cost of Goods Sold:
Merchandise Inventory 1/31/15: $1,623
Cost of Goods Purchased: $9,261
Cost of Goods Available for Sale: $10,884
Merchandise Inventory 1/31/16: $1,613
Cost of Goods Sold: $9,271

Gap Inc.'s gross profit ratio for 2015 is calculated by taking the gross profit ($5,254) divided by the net sales ($14,525) and multiplying by 100. This gives us a gross profit ratio of 36.1%.

Gap Inc.'s gross profit ratio for 2014 is calculated by taking the gross profit ($5,885) divided by the net sales ($14,657) and multiplying by 100. This gives us a gross profit ratio of 40.2%.

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In the following alternative situations, in options a & b, condominiums should be treated as residences for tax purposes and in options, c & d condominiums should be treated as non-residence for tax purposes.

What is Condominium?

The condominium is a kind of housing in which parts of it, such as apartments, are owned privately while other parts of the housing, such as hallways, elevators, and recreational facilities, are owned and managed by the property owner or by a corporation that owns the property.

For tax purposes, the condominium should be treated as follows:

The term 'residence' is used when someone is living in the condominium, and 'nonresidence' is used when it is being rented out for longer than the amount of time it is lived in.

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False. A useful strategy for determining who to target with your products or services is market segmentation. It entails segmenting a large target market into smaller groups of clients with comparable traits or requirements.

Market segmentation is a technique for breaking a sizable target market into more manageable groups of consumers that have similar traits or requirements. Using this strategy, organisations may target particular client segments with their products, services, and marketing initiatives. Companies may establish tailored marketing efforts, make specialised product offers, and ultimately increase customer satisfaction and loyalty by knowing the particular needs of each group. Businesses may save time, money, and resources by concentrating on the correct market segments and avoiding marketing to people who aren't interested in their products. Hence, market segmentation is an essential tactic that enables companies to increase efficiency and profitability while better understanding and serving their consumers.

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The Weighted Average Method is used to calculate the equivalent units of production for both direct materials and conversion costs.

This method takes into account the amount of work completed on partially completed units in the beginning inventory as well as the work done on units that have been completed and transferred out.

For Swasey Fabrication, Inc., the physical flow schedule is as follows:
Units to Account For:
- Units, beginning work in process: 41,500
- Units started (transferred in): 121,600
- Total units to account for 163,100

Units Accounted For:
- Units completed and transferred out: 121,600
- Units, ending work in process: 13,400
- Total units accounted for: 135,000

The equivalent units of production for both direct materials and conversion costs are calculated using the Weighted Average Method, as follows:
Direct Materials:
(41,500 x 0.2) + 121,600 = 141,400
Conversion Costs:
(41,500 x 0.8) + 121,600 = 135,000

The unit cost under weighted average is then computed as follows:
Unit direct materials cost = $2,440,000/141,400 = $17.24
Unit conversion costs = $3,474,700/135,000 = $25.76
Total unit cost = $17.24 + $25.76 = $43.00

The cost of goods transferred out is then calculated as follows:
Cost of goods transferred out = 121,600 x $43.00 = $5,216,800
The cost of ending inventory is then calculated as follows:
Ending WIP = 13,400 x $43.00 = $573,200

The journal entry that transfers the goods from Cutting to Welding is as follows:
Work in Process-Welding        $5,216,800
Work in Process-Cutting       $5,216,800

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d) Insurer D increased renewal premiums for all its insureds who are age 71 and over.

This increase in premiums is considered a legitimate increase for existing insureds because the insurer is basing the increase on the insured's age. Age is a factor that is taken into account when determining the premiums for LTC policies.

This increase is not based on any particular individual's claims experience or cognitive abilities; rather, it is a blanket increase based on the age of the insured. This increase is also likely within the insurer's authority to make, as it is not discriminatory and is based on a legitimate factor.

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Using a bid-buying strategy and shopping around solely on the basis of AP price can be a successful strategy if certain conditions are met such as a comprehensive understanding of market, including product or service being purchased, market trends and conditions, supplier reputation, etc.

The AP price is the average price that a company pays for a product or service. AP stands for "average price."This strategy can be successful if the buyer has a comprehensive understanding of the market and the product they want to purchase.

The buyer should also be aware of the market trends and conditions that impact the price. The buyer should be familiar with the market conditions and dynamics, such as supply and demand, availability of alternatives, and other factors that may influence the price.

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Suppose that p x y (q) is $5000 million a year and the quantity of money (m) is $500 million, the velocity of circulation is 10.

The equation of exchange relates the quantity of money, the velocity of circulation, the price level, and the level of real output as follows:

m x v = p x y

where:

m = quantity of money

v = velocity of circulation

p = price level

y = level of real output

We are given that p x y (q) is $5000 million a year and the quantity of money (m) is $500 million. Substituting these values into the equation, we get:

500 million x v = 5000 million

Solving for v, we get:

v = 5000 million / 500 million

v = 10

Therefore, the velocity of circulation is 10. This means that on average, each dollar of money is used to purchase goods and services 10 times per year.

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The total of $15,600 that Emil received this year is not considered taxable income because it is considered a return of his original investment in the annuity.

Taxable income is a measure of income that is subject to taxation. It is the total amount of income earned by a taxpayer that is subject to taxation according to the laws of the jurisdiction in which the taxpayer resides. Taxable income includes all types of income, such as wages, salaries, dividends, interest, capital gains, and business income. It also includes income from government benefits, such as Social Security. Taxpayers are required to report their taxable income on their income tax returns. Taxable income is used to calculate the amount of taxes a taxpayer is obligated to pay.

Annuities are generally tax-deferred, meaning that any money he receives from the annuity will be taxed as ordinary income when it is withdrawn. Therefore, none of the $15,600 is taxable income.

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The bond's price with 16 years to maturity, a semiannual coupon rate of 4.96 percent, a current yield of 5.31 percent and the bond's par value of $2,000 is $2,183.42.

Price of the bond can be found by the following formula:

Price = (C/2) x (1 - 1/(1+r/2)^2n) + M/(1+r/2)^2n

Where, r = semi-annual yield to maturity, n = number of semi-annual periods to maturity, M = par value and C = coupon rate. r is also called as required yield.

1. First, calculate the semi-annual yield to maturity of the bond; this can be done by using the below formula:

YTM = (2 x C)/P + [(FV - P)/n] / [(FV + P)/2]

Where, YTM = Yield to maturity, C = Coupon rate, FV = Face value, P = Price, N = number of semi-annual periods to maturity

2. Then substitute the given values in the above formula:

YTM = (2 x 4.96%)/$2,000 + [($2,000 - P)/32]/[($2,000 + P)/2]

YTM = 0.0248 + [2000 - P]/64 / 1000

Then we get,

2.48% + 0.03125(2000 - P) / 1000

3. Let's simplify this as,

0.0248P + 31.25(2000 - P) / 1000

So,

Required Yield(r) = 2(0.0248P + 31.25(2000 - P) / 1000) = 0.0496P + 62.5

Then we can substitute the above value of r, in the formula of price and calculate it:

Price = (C/2) x (1 - 1/(1+r/2)^2n) + M/(1+r/2)^2n

Price = 20 x (1 - 1/(1+(0.0496/2))^32) + 2000/(1+(0.0496/2))^32

Price = $2,183.42

Therefore, the bond's price is $2,183.42.

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The sale of merchandise for cash is not an investing activity. An investing activity is defined as the act of utilizing funds to acquire assets with the purpose of earning a profit on them over time. The process of investing can take many forms, from buying stocks and bonds to purchasing real estate or starting a small business.

Some types of investing activities are as follows:

However, the sale of merchandise for cash is not an investing activity. It is an operating activity. Operating activities are the main revenue-generating activities of a company's core business operations. The company generates cash by selling its goods and services, and this cash is used to pay expenses such as salaries, rent, and utilities.

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In the context of technology configurations, it is true of continuous process technologies that:They tend to require more supervision than other technologies. So, the correct option is A.

Continuous process technology is a technological approach that is widely used in manufacturing. It’s a production process that runs continuously, making it possible to produce goods at a constant speed. This is in contrast to batch production, which produces a certain number of items at a time.

Continuous process technologies have the following features:It is a production process that runs continuously, allowing for constant speed manufacturing of goods

.Automation is used to improve the efficiency of the process.Machines carry out the bulk of the work, and people only supervise.The technologies used are complex and need constant supervision.In conclusion, option A. They tend to require more supervision than other technologies is true of continuous process technologies in the context of technology configurations.

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Increasing the production capacity of product Able should be Andrews' priority in the next round to maximize sales volumes, would be the priority for company Andrews in the next round for product Able to maximize sales volumes.

Market share is the percentage of the total sales of a particular product or service by a company in a given market. It is calculated by dividing a company's sales revenue by the total revenue generated by all companies in that particular market.

Discussion of Andrews' priorities In the next round for product Able to maximize sales volumes, Andrews should increase the production capacity.

The reason behind this is that the chart shows that the company's current market share is below its potential, which means that there is a chance to capture more of the market.

Increasing the production capacity will allow Andrews to produce and sell more units of product Able, which will increase its market share.

Since the market share of other companies is relatively stable, increasing Andrews' market share will inevitably result in an increase in sales volume.

Therefore, increasing the production capacity of product Able should be Andrews' priority in the next round to maximize sales volumes.

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The basic components of business processes are data, knowledge, and activities. The correct option is B

These three components are crucial for any business process to be successful. Business processes are designed to help businesses operate more efficiently and effectively.

A business process is a series of activities that are designed to achieve specific business goals.

The basic components of a business process are data, knowledge, and activities.

Data is the raw material that is used to make decisions and carry out tasks.

Knowledge is the information that is used to understand how to perform tasks and make decisions.

Activities are the tasks that are performed to achieve specific business goals.

Hence, the Correct option is B

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When producers produce more than the equilibrium quantity, resources are wasted producing goods at a higher cost than consumers are willing to pay. Hence option D. is correct.

In economics, the equilibrium quantity is the quantity demanded and supplied at equilibrium price, where there is no shortage or surplus.

Equilibrium is reached when the quantity demanded by consumers is equal to the quantity supplied by producers.

Therefore, when producers produce more than the equilibrium quantity, there is surplus supply. This means that resources are wasted producing goods at a higher cost than consumers are willing to pay.

In the long run, producers may have to reduce the price to attract more buyers or reduce the supply to avoid a surplus.

Hence option D. is correct.

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