Ratios used to compare different firms at the same point in time belong to a category of analysis called cross-sectional analysis.
What is meant by analysis?
A thorough analysis of anything difficult to ascertain its nature or identify its key characteristics comprehensive research. conducting a thorough analysis of the issue. An analysis is significant because it arranges and interprets data before structuring it into presentable knowledge that is applicable to practical applications.An evaluation of a company, division of a company, or project's feasibility, stability, and profitability are known as financial analysis.Identification of needs and selection of remedies for business issues is the task of business analysis.Price breakdown to a unit figure is part of price analysis.Market analysis refers to prices established by the interaction of supply and demand, which includes suppliers and buyers.To learn more about analysis refer to:
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in the coming decade, the number of photographers entering the field is expected to , and the demand for professional photographers is likely to .
In the coming decade, the number of photographers entering the field is expected to grow by 17% , and the demand for professional photographers is likely to grow 9% faster than average.
For a wide variety of artistic, technological, and documentary goals, photographers produce images that are permanently preserved. They are used in many different industries to produce photos of a very high professional caliber that are either neutral and factual or stylized and expressive.
A creative imagination is necessary to become a photographer.technical expertise in photography.the capacity to utilize a variety of cameras and lenses.to remain current with developing technology.being able to meet deadlines.a keen sense of color, form, and detail.a strong ability to communicate.To learn more about technology click here
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If the government or its representative agency were to take money out of the economy, which of the following might occur? Prices would decrease on goods and services.
If the government or its representative agency were to take money out of the economy, Prices would increase on the goods that remained for purchase. The correct option is A.
What is the monetary policy?By controlling the money supply, inflation and deflation, interest rates can be adjusted to control the economy, the cost of money, and band reserve requirements.
They cause a lack of supply because businesses will be less motivated to produce goods and services when prices are reduced. Price caps cause market shortages because they lower the cost of goods and services, which raises demand for those things.
Thus, the ideal selection is option A.
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Your Questions seem incomplete most probably your complete Question was:
What would happen if the government or its representative agency were to take money out of the economy?
Multiple Choice
Prices would increase on the goods that remained for purchase.
The unemployment rate in the economy would stabilize.
Prices would decrease on goods and services.
Another Great Depression might develop, and this is why governments do not take this action.
If an online retailer has focused almost exclusively on demand harvesting efforts for the last few years, it shoulda. Shift its focus to demand generationb. Continue focusing on demand harvestingc. Shift its focus to loyalty buildingd. None of the above
If an online retailer has focused almost exclusively on demand harvesting efforts for the last few years, it should a shift its focus to loyalty building.
The online retailer or online shopping refers to the type of electronic commerce where customers directly buy products or services from a seller through the Internet (Apps or website) rather than physically store.
The online retailers sell their products online and why online retail business or company is simply a form of electronic commerce that enables consumers to buy products or services or shop directly from their phones, laptops, or other internet-connected devices from anywhere in the world.
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Satisfying consumers' immediate needs and desires does not always serve the futurebest interests of either customers or the business.(T/F)
The answer is true. Strategic planning idea takes future business demands into account, whereas societal marketing concept examines the welfare of consumers in the future.
Sustainable marketing entails taking ethically sound steps to satisfy the needs of businesses and customers today while protecting or improving the ability of future generations to Strategic their own needs. The simplest strategy to boost sales and enhance profits in marketing is to fulfil client demands and wants. Finding what the customer wants and needs is the concept of desire in marketing. In order to persuade the consumer to purchase the goods, marketing tactics aim to satisfy various needs.
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Enright Industrial Leasing has effective control processes, allowing its managers to discover ________ in bookkeeping right away, before a would-be embezzler could seriously affect its business.
irregularities and errors
Enright Industrial Leasing has effective control process, allowing its managers to discover irregularities and errors in bookkeeping right away, before a would-be embezzler could seriously affect its business.
The control process is the process in which the establishing standards and methods for measuring performance and measuring the performance.
In the control process, the business analysis is to determine whether performance matches the standard and taking the corrective action, in case there are discrepancies between actual performances and targeted goals.
The Enright Industrial Leasing has an effective control processes, allowing its managers to discover irregularities and errors.
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2: Piazzolla Research surveyed 1087 U.S. adults (18 years or older) to shed light on how
consumers are engaging with technology-driven healthcare and online health information.
Among the 1087 survey respondents, 895 reported that they had searched for health care
information online. In this survey, what is the population?
A. The 895 respondents who reported having searched for health care information online.
B. The 1087 United States adults who responded to the survey.
C. All adults (18 years or older) in the United States.
D. None of the above.
a mobile device user is having problems keeping malware off his device. the user is continuously removing offending apps and regularly running a check for os updates. after a short period of relief, the malware continues to be a problem.
The following which are the best actions for the user to take when having problems keeping malware off his device include:
Install an anti-malware app.Perform a factory reset.What is a Malware?This is known as malicious software and is an intrusive software that is designed to damage and destroy computers and computer systems.
In a situation where a mobile device user is having problems keeping malware off his device with no permanent solution in sight it is best to install an anti-malware app or perform a factory reset as it helps to mitigate malware thereby making it the correct set of options.
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The full question is:
a mobile device user is having problems keeping malware off his device. the user is continuously removing offending apps and regularly running a check for os updates. after a short period of relief, the malware continues to be a problem.
Which of the following are the best actions for the user to take? (Select TWO.)
Suppose Barry is maximizing his utility from consuming used paperback novels and audio books. The price of a used novel = $4 and the price of an audio book = $8. If the marginal utility of the last novel was 32 units of utility (utils) what was the marginal utility of the last audio book purchased?
Assume Barry is getting the most value out of his consumption of old paperback books and audiobooks. The cost about an audio book is $8 whereas a secondhand book is $4. The final audio book has a 64 util marginal benefit.
What does a business buy?The method a company or organization employs to get the products or services it needs to reach its objectives is known as purchasing. The purchasing process might differ significantly within businesses, despite the fact that many organizations make an effort to began to organize.
Briefing :Use the rule where
MU/$ for audio book = MU/$ of paperback novel
This is an essential condition for utility maximization
MU(audio book) / 8 = 32 / 4
MU(audio book) = 8*32/4 = 64
Hence, the marginal utility of last audio book is 64 utils.
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employees can sue employers for wrongful discharge if the employee was contracted under the employment-at-will doctrine.
It is a false statement that employees can sue employers for wrongful discharge if the employee was contracted under the employment-at-will doctrine.
What does the employment-at-will doctrine provide?The doctrine holds means that an employer can terminate an employee at any time for any reason except an illegal one or for no reason without incurring legal liability. As well, an employee is free to leave the job at any time for any or no reason with no adverse legal consequences.
The doctrine also hold that an employer can change the terms of the employment relationship with no notice and no consequences. For example, it can alter wages, terminate benefits, or reduce paid time off. Its leaves an employees vulnerable to arbitrary and sudden dismissal, a limited or on-call work schedule depending on the employer’s needs, and unannounced cuts in pay and benefits.
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Isabela is single and turned 72 years old on October 1, 2022. Isabela worked as a librarian at the local library and earned wages of $7,500. Isabela also received Social Security benefits of $16,000. She received a taxable pension of $13,000. She retired from her previous job on October 30, 2019. During her career she contributed pretax dollars to a qualified 401(k) retirement plan through her employer. Isabela cannot be claimed as a dependent by another taxpayer. Isabela is a U.S. citizen with a valid Social Security number. 10. When must Isabela begin taking her first required minimum distribution?
Isabela must begin taking her first required minimum distribution (RMD) no later than April 1, 2023.
Hundreds of millions of individuals are familiar with the most common type, which is the regular Social Security card. It is given to both citizens and noncitizens of the United States who have received approval from the Department of Homeland Security (DHS) to reside and work permanently in the country.
October 1, 2022, marked Isabela's 72nd birthday. She will be forced to take a required minimum distribution (RMD) from her eligible 401(k) retirement plan for the first time in 2022. She is permitted to postpone that RMD until April 1, 2023, though.
As a result, the significance of Isabela beginning her first required minimum distribution is the aforementioned.
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for most large businesses, the cash basis of accounting will provide accurate financial statements for user needs.
Most humans and small provider groups may use the money basis of accounting. For most giant businesses, however, the cash basis will no longer provide correct economic statements for consumer needs.
Who makes use of cash basis accounting?The cash groundwork of accounting is the exercise of recording revenue when cash has been received, and recording expenses when cash has been paid out. The cash groundwork is commonly used by means of men and women and small businesses (especially those with no inventory), given that it includes the easiest accounting.
"For example, when shopping for workplace supplies, the enterprise commonly will pay cash for them. Under cash basis accounting, the business enterprise then has a enterprise rate and a discount in their money balance.”
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https://brainly.com/question/20397933#SPJ4to minimize extra costs associated with future litigation, many businesses will include in their contracts . question 8 options: forum selection clauses no deal if sued clauses attorney's fees at twice the rate if the other side sues clauses removal jurisdiction clauses no contest clauses
Many companies will add a clause about forum selection in their contracts to reduce extra expenses related to potential litigation.
What does the term "litigation" mean?Making something the focus of a lawsuit will lead to a case, a problem, etc. being resolved in a legal court. The defense or resolution of legal issues between businesses and other organizations falls under the category of corporate litigation. It frequently refers to defending businesses that have been accused of misbehavior.
Why would a business choose to litigation?The main reason you decide to proceed to court may be to create a precedent that you're not a pushover or that you won't be forced into conceding in a baseless issue. The most valuable asset of a corporation may be its intellectual property, which should be safeguarded.
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With a floating exchange rate, an increase in the U.S. demand for Japanese exports will cause the supply curve for yen to: become less elastic decrease. Increase remain unchanged.
Investors will be less likely to supply yen for speculative purposes as the yen appreciates, resulting in a decline in the supply of yen. The Yen will ultimately appreciate as a result.
What causes the supply curve to change?
change in the supply curve An complete supply curve may move to the right or left due to changes in manufacturing costs and associated variables. As a result, a bigger or lower amount is provided at a specific price. The premise of ceteris paribus Assuming no other things change, supply curves show how prices and quantity delivered are related.
What kinds of supply curves are there?
Individual supply curves and market supply curves are the two categories of supply curves, respectively. Market supply curves depict the market supply timetable, whereas individual supply curves show the individual supply schedule.
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Concord Corporation agrees on January 1, 2020, to lease equipment from Packers, Inc. for 3 years. The lease calls for annual lease payments of $17,000 at the beginning of each year. The lease does not transfer ownership, contain a bargain purchase option, and is not a specialized asset. In addition, the economic life of the equipment is 10 years, and the present value of the lease payments is less than 90% of the fair value of the equipment. Assume that for Packers, Inc., the lessor, the collectibility of the lease payments is probable, and the fair value and cost of the equipment is $144,000. Prepare Packers’ 2020 journal entries, assuming the company uses straight-line depreciation and no salvage value.
Date
Account Titles and Explanation
Debit
Credit
1/1/2012/31/20
1/1/2012/31/20
(To record the recognition of the revenue each period) 1/1/2012/31/20
(To record depreciation expense on the leased equipment)
Lease Receivable (asset) $17,000 debit
To Lease Revenue (revenue) $17,000 credit
Write the journal entries and explain?Date: January 1, 2020 (beginning of the lease term)
Account Titles and Explanation:
Lease Receivable (asset) $17,000
Lease Revenue (revenue) $17,000
On the first day of the lease term, Packers, Inc. would recognize a lease receivable for the first annual lease payment of $17,000 and would also recognize lease revenue for the same amount. This is because Packers, Inc. has a right to receive payment for the lease of the equipment, and the revenue is earned over the term of the lease.
Date: December 31, 2020 (end of the year)
Account Titles and Explanation:
Depreciation Expense (expense) $12,000
Accumulated Depreciation (contra-asset) $12,000
(cost of the equipment - estimated residual value) / estimated useful life of the equipment = ($144,000 - $0) / 10 years = $14,400 per year. Since the lease term is 3 years, the depreciation expense for 2020 would be $14,400 / 3 = $4,800. In this case, the fraction of the year that has passed at the end of 2020 is 11/12 (since the lease began on January 1 and ended on December 31), so the adjusted depreciation expense for 2020 would be $4,800 * (11/12) = $4,266.67. This amount would be rounded to $4,267 for simplicity.
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corporate executives are already well aware of the impact supply chain management can have on their businesses.
False. Corporate executives are already well aware of the impact supply chain management can have on their businesses.
What is meant by supply chain management?The handling of a good or service's full manufacturing flow, from the raw materials to the delivery of the finished product to the customer, is known as supply chain management.
At its most basic level, supply chain management (SCM) is the control of the movement of materials, information, and money associated with a good or service from the acquisition of raw materials to the delivery of the good at the final location.
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corporate executives are already well aware of the impact supply chain management can have on their businesses. T oR f
consider the following information on the expected return for companies x and y. calculate the expected value and the standard deviation of returns for companies x and y.
The expected value and the standard deviation of returns for companies x and y is 23.44 and 9.2260
E(X) = Summation (X × p(x)) =27×0.24 +17×0.44 + (-29×0.32)
=6.48+7.48-9.28 =4.68
E(Y) = summation (Y × p(y) =11×0.24 +29×0.44+10×0.32
= 2.64+12.76+3.2 = 18.6
Standard deviation of X =summation (Xi - E (x)) ^2 ×p (X))
= Sqrt ((27-4.68) ^2 ×0.24 +(17-4.68) ^2 ×0.44 +(-29-4.68) ^2 ×.32)
=Sqrt (498.18×0.24 +151.7824×0.44 + 1134.34×0.32)
Sqrt (119.56+66.78+362.98)
=Sqrt (549.33)
=23.44
Standard deviation of y=
Sqrt ((11-18.6) ^2 ×0.24 +(29-18.6) ^2×0.44 +(10-18.6) ^2 ×0.32
=Sqrt (13.8624+47.5904+23.6672)
Sqrt (85.12) = 9.2260
Solution (b)
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For most people, banking services consists of depositing their salaries into _____ and then writing drafts (or using debit cards) on those accounts to buy things.
For the majority of consumers, using banking services entails depositing their paychecks in CHECKING ACCOUNTS then utilizing those draughts to make purchases.
What is meant by banking?The business of banking involves safeguarding other people's money. When make loans this money, interest is generated that benefits both the bank or its clients. A financial entity with permission to receive deposits and issue loans is known as a bank. However, they might also offer additional financial services.
What are the two main types of banking?Commercial banks, which are consumer-facing like Bank of America, and central banks, which are government organisations that oversee monetary policy and regulate the sector, are included in the category of banking and finance.
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kayla, a salesperson, suggests to her team that a straight-line routing plan would be most appropriate for their accounts. however, sandra disagrees and says the cloverleaf model would work best for their accounts. which of the following, if true, would strengthen kayla's argument?
If the statements made in the arguments that we have here, the truth would be that: Accounts are located in clusters that are some distance from one another.
Who is a salesperson?A salesperson is someone whose primary responsibility is to sell goods or services. A different name for a salesperson is a sales rep (or sales representative). The terms salesperson and sales rep are sometimes substituted for the more traditional terms salesman and saleswoman. Both salespeople and salespersons are acceptable forms of the word's plural.
The salesman is in charge of welcoming customers, assisting them in finding what they're looking for in the business, and ringing up purchases. You need to communicate effectively if you want to succeed as a salesperson. Good salespeople achieve their goals while being courteous and helpful to their clients.
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the total or market labor demand curve for a particular labor service is found by ____ the labor demand curves of all individual firms in the industry
summing
The total or market labor demand curve for particular labor service is found by summing labor demand curves of all individual firms in industry.
What is demand curve?A demand curve in economics is a graph that shows relationship between cost of a certain good (the y-axis) and the amount of that good that is desired at that cost (the x-axis). The link between price and quantity for a single consumer or for all consumers in a market can be examined using demand curves. The graph that follows demonstrates how demand curves are typically thought to slope downward. The law of demand, which states that as prices rise for most goods, demand declines, is the reason behind this. In a number of particular instances, this rule is broken. In order to determine the equilibrium price and equilibrium volume of a market with competition, demand and supply curves are often coupled.
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Which of the following is an example of a market failure?
A. The price of medical care has risen dramatically as a result of the introduction of sophisticated equipment and procedures.
B. There are not enough tickets available for everyone to attend concerts of extremely popular performers and artists.
C. A promising new Silicon Valley startup finds that they are operating at an economic loss and they decide to shut down.
D. A farmer uses chemical fertilizer on their fields that then leaches into the community’s groundwater.
Market failure, according to neoclassical economics, occurs when a free market fails to allocate products and services in a Pareto-efficient manner, frequently resulting in a net loss of economic value.
[1] Market failure can be seen as situations when people's pursuit of their own self-interest results in inefficient outcomes that can be rectified from a societal perspective. [2] [3] Although the word was first used by economists in 1958[4], Henry Sidgwick, a Victorian philosopher, is credited with the idea. [5] Public goods,[6] time-inconsistent preferences,[7] information asymmetries,[8] non-competitive markets, principal-agent issues, or externalities are frequently linked to market failure. [9] Self-regulatory organizations, governments, or supranational agencies frequently interfere when there is a market failure.
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Rafia owns stocks of 15 different companies. Together, the stocks have a value of $78,640. Twelve percent of that total value is from one company, Gambrell & Valdez. The twelve percent figure is called a(n): Multiple Choice portfolio weight degree of risk. price-earnings ratio. index value. portfolio return.
Rafia owns stocks of 15 different companies. Together, the stocks have a value of $78,640. 12% of that total value is from one company, Gambrell & Valdez. The 12% figure is called portfolio weight. The correct option is a.
What is portfolio weight?Portfolio weight can be understood as the percentage of an investment portfolio that a particular holding or type of holding comprises. The most basic way to determine the weight of an asset is by dividing the dollar value of a security by the total dollar value of the portfolio.
A portfolio is created with weights in mind.
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if firms are losing money in a purely competitive industry, then the long run adjustments in this situation will cause the market price to: group of answer choices decrease, and the representative firm's profits will decrease increase, and the representative firm's profits will decrease increase, and the representative firm's profits will increase decrease, and the representative firm's profits will increase
Based on business strategy, and the available options, it is concluded that if firms are losing money in a purely competitive industry, then the long-run adjustments in this situation will cause the market price to increase, and the representative firm's profits will increase.
What are Competitive MarketsCompetitive Market is a term that is used to describe the market situation in which no single consumer or producer has the power to influence the market.
Generally, the competitive market's response to supply and demand fluctuates with the supply curve, a representation of a product's quantity.
Also, in the long-run equilibrium of a purely competitive market, the profit is zero. So, if firms are making money in the short run, they would not leave the market in the long run, increasing the supply that exists in the market.
Alternatively, if firms are losing money in a purely competitive industry, then the long-run adjustments in this situation will cause the market price to increase, and the representative firm's profits will increase.
This is because when companies start losing money, they leave the market in the long term. Thus, the remaining firms will benefit from increased prices because their profits also increase. This is a result of an increase in demand when there are fewer firms in the market.
Hence, in this case, it is concluded that the correct answer is option C. "increase, and the representative firm's profits will increase."
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which of the following is not part of the external users of the financial statement? lenders suppliers management investors g
Management is not the part of external users of the financial statement.
The management of the company is the primary user of the financial statements. Even though they are the ones who create the financial accounts, the board and management must consult them when assessing the development and expansion of the business. The management of the company examines the financial statements in light of the company's liquidity, profitability, cash flows, assets, and liabilities, cash balances, fund requirements, outstanding debt, project finance, and several other ongoing operational tasks. Simply said, financial statements are necessary for management to make corporate choices.
But, they are not included in the external users category
As external users are the people outside of an organization who makes decisions using financial or accounting data about that business but who does not actively manage its operations and management is one of the most important part of the inside of the company .
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: From an initial equilibrium in the basic model that includes only the AD and LRAS curves, aggregate demand shocks caused by changes in the growth of money supply: O are neutral in neither the short run nor the long run. O are neutral in the short run only. O are neutral in both the short run and the long run. O are neutral in the long run only.
From an initial equilibrium in the basic model that includes only the AD and LRAS curves, aggregate demand shocks caused by changes in the growth of money supply are neutral in both the short run and the long run.
What is aggregate demand?
The overall demand for final products and services in an economy at a certain time is known in macroeconomics as aggregate demand, sometimes known as domestic final demand. Effective demand is a common name for it, however other times this term is used to make a distinction. This is a country's demand for its gross domestic output.
However, aggregate demand identifies the complete market for all goods and services that an economy generates and expresses it as an overall dollar value. The sum of consumption, investment, government spending, and net exports is aggregate demand.
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Use Table: Population Data for Roanoke County. If marginally attached workers are included the labor force in Roanoke County is: Table: Population for Roanoke County Demographic Group Number of Residents Employed 125,000 Unemployed and looking for work 3,000 Not working due to disability 1,000 Not working due to retirement 3.000 Unemployed and not looking for work due to 2.000 discouragement over job prospects Under the age of 16 40.000 Total Population 174,000 O 1.128.000 O 2. 130.000 O 3.131.000 O 4.134.000
The labor force is 130000. Optoin B.
Calculation:
Labor Force = Employed + Unemployed but actively looking for a job
Discouraged workers are called marginally attached workers.
So, in the country of Roanoke, when marginally attached workers are added to the labor force, then,
Labor Force including marginally attached worker = 125000 + 3000 + 2000 = 130000.
So, if marginally attached workers are included in the labor force, the labor force is 130000.
The labor force or workforce is a concept that refers to the pool of people who are either employed or unemployed. Usually used to describe a person who works in a single company or industry but can also apply to geographic regions such as cities states or countries. The labor force participation rate is an estimate of the active labor force in the economy.
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True or False: In a marketing context, salespeople with high emotional intelligence are more effective in closing sales with consumers than are salespeople with low emotional intelligence.
emotional intelligence are more effective in closing sales with consumers than are salespeople with low emotional intelligence is true.
What exactly is emotional intelligence?Emotional Intelligence (EI) is the ability to manage your own emotions as well as understand the emotions of others. EI is comprised of five components: self-awareness, self-regulation, motivation, empathy, and social skills.
What are the 4 types of emotional intelligence?The four domains of Emotional Intelligence — self awareness, self management, social awareness, and relationship management — each can help a leader face any crisis with lower levels of stress, less emotional reactivity and fewer unintended consequences
Is emotional intelligence synonymous with empathy?Empathy is a critical component of Emotional Intelligence (EI). Simply put, it means "putting yourself in the shoes of another." As a result, you become more sensitive to the feelings and emotions of others.
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from a marketing perspective, pricing should be ; i.e., it should correspond to what customers perceive as the fair price of the product. from a marketing perspective, pricing should be ; i.e., it should correspond to what customers perceive as the fair price of the product. cost based competitor based value based profit based
There are different types of pricing : Cost Based , Competitor Based , Value Based and Profit Based Pricing.
Cost Based Pricing: Cost based pricing involves setting pric ,es based on the cost of producing the product. This approach can be used to ensure that the company is making a profit on the product. For example, if it costs the company $10 to produce a product, the company could set the price at $15 to ensure that a profit is made.
Competitor Based Pricing: Competitor based pricing involves setting prices based on what competitors are charging for similar products. This approach can be used to stay competitive in the market and ensure that customers are not being charged too much. For example, if a competitor is charging $15 for a similar product, the company could set its price at $14 to remain competitive.
Value Based Pricing: Value based pricing involves setting prices based on the perceived value of the product. This approach can be used to ensure that customers are paying a fair price for the product. For example, if the company believes that its product is worth $20, it could set the price at $20, even if the cost of production is lower.
Profit Based Pricing: Profit based pricing involves setting prices based on how much profit the company wants to make. This approach can be used to ensure that the company.
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Natural resources are:
Multiple Choice
Tangible assets used in the operations of the business.
Consumable assets such standing timber, mineral deposits, and oil and gas fields.
Not subject to allocation to expense over their useful lives.
Current assets because they are depleted.
Depleted using a straight-line method.
Natural resources are consumable assets such standing timber, mineral deposits, and oil and gas fields.
Natural resources are assets that can be used up. Over the course of their useful lives, natural resources are subject to expenditure. Natural resources cannot be recycled and are not renewable. The income statement is debited for depletion costs related to the utilization of natural resources.
Natural resources are substances obtained from the earth that are used to sustain life and provide for human needs. Natural resources consists things like stone, sand, metals, oil, coal, and natural gas. Air, sunlight, soil, and water are examples of other natural resources.
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according to the figure, because of the imposition of a per-unit tax, the price buyers now pay for a disposable camera and the price sellers get to keep equals:
The price buyers now pay for a disposable camera and the price sellers get to keep equals $48 and $28 respectively.
Who are price buyers?
A price buyer is a shopper who makes decisions based solely on price. They are more concerned with price when shopping. They are sensitive to pricing. Fortunately, research indicates that these buyers are not prevalent in society. Buyer pleasure is the primary goal of all market actions, which are carried out with this in mind. It is a crucial component of the market. Buyers are either individuals or organizations who make purchases of products or services. First, it's important to recognize that there are three primary categories of consumers: average spenders, spendthrifts, and tightwads. This job needs a lot of research, as well as the ability to manage an inventory, negotiate contracts with suppliers, assess the quality of products, and stay within a budget.
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For the past ten years, Bill and Margaret have saved money to go to the Super Bowl should their team, the Chicago Bears, reach the finals of the NFC championship. This is the year, and several tour companies offer attractive, but very similar, packages to the game. Since all packages are pretty much the same, they have chosen one that fits their budget. Bill and Margaret are most likely exhibiting ________.
They have selected a bundle that meets their budget because all of the packages are essentially the same. Most likely, Bill and Margaret are engaging in dissonance-reducing purchasing behavior.
Exhibition Buying to Reduce Dissonance?Dissonance-Reducing When a consumer makes a purchase, they are actively involved in the choice-making process and are unable to differentiate between the various options and brands available on the market that can satisfy their demands. According to the dictionary, dissonance is "a conflict of people's beliefs, deeds, or characters." In a similar manner, worry after purchases can be interpreted as buying that lessens dissonance. This usually happens when there aren't many differences between brands and the purchase requires a lot of work. This distinguishes it from complex purchasing situations when there are a variety of possibilities. Because of this, the consumer is unable to make an informed decision.
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