The recommended minimum amount that PFC Levy should save each month depends on various factors such as his financial goals, expenses, and overall financial situation. However, a commonly suggested guideline is to save at least 20% of one's monthly income.
Saving a portion of your income is essential for building an emergency fund, achieving financial goals, and ensuring long-term financial stability. While the specific percentage may vary depending on individual circumstances, saving at least 20% of one's monthly income is often considered a good starting point.
In the case of PFC Levy earning $1500 per month, the recommended minimum amount he should save would be 20% of $1500, which is $300.
Saving 20% of his income provides PFC Levy with several benefits. Firstly, it allows him to build an emergency fund to cover unexpected expenses such as medical bills or car repairs. Having an emergency fund is crucial for financial security and helps prevent falling into debt in times of unforeseen circumstances.
Secondly, saving a portion of his income enables PFC Levy to work towards his financial goals. Whether it's saving for a down payment on a house, planning for retirement, or pursuing further education, consistent savings will help him make progress and achieve these goals.
Furthermore, saving regularly helps develop a habit of financial discipline and encourages responsible money management. It allows PFC Levy to accumulate wealth over time and take advantage of investment opportunities that can grow his savings even further.
It's important to note that the recommended minimum savings amount may vary based on individual circumstances, such as personal expenses, debt obligations, and other financial goals. It's always advisable to evaluate one's own financial situation and adjust the savings amount accordingly to ensure a balance between saving for the future and meeting present needs.
In conclusion, while the specific amount PFC Levy should save each month depends on his unique circumstances, a recommended minimum would be to save at least 20% of his monthly income, which in this case would be $300. By following this guideline, PFC Levy can lay the foundation for a healthy financial future and work towards achieving his financial goals.
To learn more about PFC, click here: brainly.com/question/19755678
#SPJ11
The general term for the payments for the use of resources is ______?
A. wages
B. rent
C. interest
D. factor payments
The umbrella word used to describe payments for the usage of resources is Factor payments. Hence, Option D is correct.
What is factor payment?Factor payments in economics are the compensation that individuals receive for providing the factors of production—land, labor, capital, or entrepreneurialism. Payments made with limited resources or production inputs in exchange for useful services.
Rent, wages and salaries for work, interest and dividends are the factor payments received for land, labor, and capital, respectively. It describes one method for determining GDP using income.
The factor income technique, also referred to as the "income approach," calculates GDP by adding employee wages, rent, interest, and profit. Payments provided to production factors, such as rent, interest, profit, wages, etc., are referred to as factors payments.
Thus, Option D is correct.
Learn more about payment from here:
https://brainly.com/question/15138283
#SPJ2
A goal of monetary policy is? promote equity in income distribution. keeping taxes low. reducing government deficits. promoting economic growth
Promoting Economic Growth
Monetary coverage is the macroeconomic coverage laid down by using the critical bank. It includes management of money supply and interest price and is the call for aspect economic coverage used by the government of a rustic to gain macroeconomic objectives like inflation, intake, increase, and liquidity.
Six basic goals are usually noted via personnel at the Federal Reserve and other important banks once they talk about the targets of monetary coverage: (1) high employment, (2) financial increase, (three) fee balance, (4) hobby-charge stability, (five) stability of economic markets, and (6) stability in the forex
A few economic policy examples encompass buying or promoting authorities securities thru open marketplace operations, converting the bargain price supplied to member banks or altering the reserve requirement of the way a lot of money banks need to have on hand it really is no longer already spoken for thru loans.
Learn more about Monetary Policy here
https://brainly.com/question/26543359
#SPJ4
how did personal factors explain the success of spanx
Personal factors played a significant role in the success of Spanx such as founder's determination and perseverance, ability to identify and meet a need in the market, and personal charisma.
Personal factors played a significant role in the success of Spanx, a popular shapewear brand. One of the main personal factors that contributed to the success of Spanx is the founder's determination and perseverance. Sara Blakely, the founder of Spanx, faced numerous rejections and obstacles during the early stages of her business. However, she remained determined and continued to pursue her goal, which eventually led to the success of Spanx.
Another personal factor that contributed to the success of Spanx is Blakely's ability to identify a need in the market and create a product to meet that need. Blakely recognized that there was a demand for shapewear that was comfortable, yet effective in slimming and smoothing the body. She created Spanx to meet this demand, and as a result, the brand became successful.
Lastly, Blakely's personal charisma and ability to market her product also played a role in the success of Spanx. Blakely was able to effectively promote her brand and create a loyal customer base through her personal charm and relatable personality.
In conclusion, personal factors such as determination, the ability to identify a need in the market, and personal charisma contributed to the success of Spanx.
Learn more about Demand:
https://brainly.com/question/1245771
#SPJ11
What are the similarities and differences in the purchasing
functions at a for profit versus a not for profit organization?
Explanation:
I hope this answer is helpful ):Jack deposits $43,000 today and plans on withdrawing $2,000 semiannually at the beginning of each period of the next 12 years, what is the annual interest rate on this account? 0.69% 3.35% 1.96% 2.07%
To determine the annual interest rate on Jack's account, we need to calculate the rate that would make the present value of his withdrawals equal to the initial deposit. The correct annual interest rate is 3.35%.
We can use the formula for the present value of an annuity to calculate the annual interest rate:
PV = C * [(1 - (1 + r)^(-n))/r]
Where:
PV = Present value of the withdrawals (initial deposit)
C = Amount withdrawn each period ($2,000)
r = Annual interest rate
n = Number of periods (12 years * 2 = 24 semiannual periods)
We want to solve for r, so we need to rearrange the formula:
r = [(1 - (PV / (C * (1 - (1 + r)^(-n))))]^(1/n) - 1
Substituting the given values, we can calculate the annual interest rate:
r = [(1 - (43000 / (2000 * (1 - (1 + r)^(-24))))]^(1/24) - 1
r = [(1 - (43000 / (2000 * (1 - (1 + 0.0335)^(-24))))]^(1/24) - 1
= [(1 - (215)]^(1/24) - 1
= (0.995)^(1/24) - 1
= (1 - 0.005)^(1/24) - 1
= (0.995^(1/24)) - 1
= 0.000015625.
Now multiply this value by 100 to express it as a percentage. The answer is 0.15625%.
Since the interest is compounded quarterly, we need to multiply this value by 4 to get the annual interest rate. The answer is 3.35%.
To know more about Present value here: brainly.com/question/28304447
#SPJ11
Erica decides to spend $50 on a ticket to a concert with friends instead of buying a new pair of jeans. What is the opportunity cost other decision?
A. the benefit of having a new pair of jeans
B. the benefit of going out with her friends
C. the $50 Erica spent on the ticket
D. the enjoyment of going to the concert
Answer:
The benefit of having a new pair of jeans
Explanation:
Answer:
The benefit of having a new pair of jeans
Explanation:
Hey everyone, I just thought you all should know that...
you are AMAZING
you are BEAUTIFUL
you are SMART
you are KIND
you are NOT going to give up on your FIGHT
and you better stay ALIVE!!! <33
Answer:
thanks lol
you too-
Finance leases under US GAAP or all leases under IFRS have front-loaded expenses because the interest expense of each period is determined based on the present value of remaining lease liability. As a result, interest expense is higher in earlier years than later years. In contrast, an operating lease under US GAAP has straight-line lease expense (i.e., the same expense for every period).
Comparing the two income statements you completed under US GAAP (Operating Leases) and IFRS, what is the difference in total expenses (before rounding) after five years?
The total expenses under IFRS for leases will be higher than under US GAAP for operating leases after five years.
Under US GAAP for operating leases, the lease expense is recognized on a straight-line basis, resulting in the same expense amount for each period. However, under IFRS or US GAAP for finance leases, the interest expense is determined based on the present value of the remaining lease liability, resulting in front-loaded expenses with higher interest expense in earlier years. Over a period of five years, the cumulative interest expense for finance leases will be higher than the expense recognized under US GAAP for operating leases. Therefore, the total expenses under IFRS will be higher than under US GAAP for operating leases after five years.
Learn more about finance here:
https://brainly.com/question/30502952
#SPJ11
What do you want to be when you a grow up? I want to be a model or a fitness model or a boxer or a professional tahitian dancer or belly dancer you?
Answer:
I love to read and write. So, I want to become an author. I want to entertain people with my stories. I also want to be a media specialist. I love being part of the library and the books.
Explanation:
Pete and Mason are shopping for Cheese-its for a class activity. They needed several boxes. Which prices give the better deal.
A. $1.25 per box
B. $5.50 for 3 boxes
c. Buy 1 at regular price ($3.50) and get one at 50% off
D. $2.75 per box and a coupon for $1.00 off
Answer:
I believe A. $1.25 per box would be the best deal.
Explanation:
This is because A is $1.25 per box,
B. is about $1.83 per box (5.50/3 divided by 3/3 = about 1.83/1)
C. Would be 1 box = $3.50, and the next $1.75 (which is still not less then just $1.25 per box)
and D. would be $2.75-$1 off = $1.75
Out of all of them, A is cheapest/gives the best deal.
Not sure if all calculations are correct, but I hope this helps! :)
Auckland Engineering plc Jim Withey, Sales Manager for Auckland Engineering plc, a well-established engineering company in the Midlands, received the following memo from DC Duncan, his recently appointed Marketing Director. Memo To: J Withey, Sales Manager From DC Duncan, Marketing Director Date: 16 January 2006 Subject: Preparation of annual marketing plan You will recall that at our series of preliminary meetings to discuss future marketing plans for the company I suggested that I was unhappy with the seemingly haphazard approach to planning. Accordingly, you will recall it was agreed between departmental heads that each would undertake to prepare a formal input for next month’s planning meeting. At this stage I am not seeking detailed plans for each product market, rather I am concerned that you give thought to how your department can contribute to the planning process. Being new to the company and its product/markets, I am not fully up to date on what has been happening to the market for our products, although as we all know our market share at 35 percent is down on last year. I would particularly like to know what information your department could contribute to the analysis of the situation. To help in your analysis I have summarised below what came out of our first planning meetings. 1 Business definition. It was agreed that the business needs redefining in customer terms. An appropriate definition for our company would be: ‘Solutions to engine component design and manufacturing problems’. 2 SWOT analysis Our main strengths are • Excellent customer awareness and an image of reliability and quality. • Salesforce is technically well qualified. 70 2: Sales Strategies SELL_C02.QXP 12/10/05 15:33 Page 70 • Manufacturing flexibility is second to none – we respond quickly and effectively to individual customer needs. Our main weaknesses are • Prices approximately 10 percent above the industry average. • Spending a higher proportion of turnover on advertising than most main competitors. • Salesforce not skilled in generating new leads. Our major opportunities are: • Some major competitors have difficulty keeping customers because of quality and delivery problems. • Recent legislation means research and development programme on new TDIX component, emphasising lower exhaust emission levels, should prove advantageous. • Recent and forecast trends in the exchange rate should help export marketing efforts. • Buyers in the industry seem prone to switching suppliers. Our major threats are: • Our largest customer threatening to switch owing to our higher average prices. • Apart from TDIX programme, we have not been keeping pace with rapid technological change in the industry. • Some major export markets are threatened by possibility of import restrictions. 3 Objectives Financial • To increase return on capital employed by 5 per cent. • Net profit in the forthcoming year to be £4 million. Marketing • Sales revenue to be increased to £35 million in the forthcoming year. 4 Marketing strategy Target markets • Major manufacturers of diesel engines worldwide. Positioning • Highest engineering quality and after-sales service in supply of specialist lowvolume diesel engine components. Practical Exercise: Auckland Engineering plc 71 SELL_C02.QXP 12/10/05 15:33 Page 71 I would welcome your comments on my analysis, together with any views on the appropriateness of the objectives I have set. For the next meeting I suggest that as sales manager you give some thought as to where the relative emphasis should be placed in our promotional effort. As I have mentioned, we seem to be spending an excessive amount on advertising compared with our competitors. Perhaps you could give me your thoughts on this, as I understand you were in favour of raising our advertising budget from 1 per cent to 2 per cent of turnover last year. As you are aware, from a limited budget, we must decide where to place the relative emphasis in our communications mix. Perhaps you can indicate what you feel are the major considerations in this decision. Discussion Questions
1 Give a brief outline of ways the sales manager can contribute to the marketing planning process at Auckland Engineering.
2 Looking at Duncan’s analysis of the previous meeting, what issues/problems do you see that are of relevance to the activities of the salesforce?
The sales manager can contribute to the marketing planning process at Auckland Engineering in several ways.
Providing market research and analysis to identify potential customers and their needs.
Suggesting new sales strategies and tactics to increase revenue and market share.Collaborating with other department heads to develop a cohesive marketing plan that aligns with the company's goals and objectives.Reviewing and analyzing sales data to identify trends and opportunities for growth.Providing feedback on the effectiveness of current sales and marketing efforts and recommending changes as needed.Participating in discussions on budget allocation and resource planning to ensure that sales efforts are adequately supported.From Duncan's analysis of the previous meeting, several issues/problems are of relevance to the activities of the salesforce, including:
Salesforce is not skilled in generating new leads: This suggests a need for sales training and development to improve lead generation and prospecting.
Prices approximately 10 percent above the industry average: This may make it more difficult for the salesforce to close deals and could be a barrier to entry into new markets.Spending a higher proportion of turnover on advertising than most main competitors: This could impact the salesforce's ability to compete on price and value, and may require a re-evaluation of the company's overall marketing strategy.Our largest customer threatening to switch owing to our higher average prices: This could lead to lost revenue and market share and may require a strategic approach to retain the customer or find new ones.Overall, these issues highlight the importance of salesforce training and development, competitive pricing strategies, and effective communication and collaboration between the sales and marketing departments.
To learn more about “customer” refer to the https://brainly.com/question/26313265
#SPJ11
I need help please n thanks
Answer:
The first foundation is called THE foundation You need to maintain a accurate balance so you can keep track
Explanation:
Why do you think a higher percentage of those over 35 years old invest in the market compared to those under 35? Help please!
Answer:
Yes I think those over 35 invest in a market compared to people not 35, because they been though school, and have more experience in the market company.
Explanation:
The amount of calendar time associated with the long run a. is less than that associated with the immediate market period b. is the same for all firms. c. varies from industry to industry.
d. Is, by definition, any length of time greater than one year.
The amount of calendar time associated with the long run varies from industry to industry. Thus the correct option is C.
What is the industry?An economic area or place where the manufacturing of goods will be done with the help of raw materials and machines as equipment and assemble the goods for distribution in the market is referred to as Industry.
A strategy to analyze the risk-based performance of investors as well as private organizations by following a two-step procedure is referred to as the calendar time approach which varies from industry to industry based on working structure.
Therefore, option C is appropriate.
Learn more about Industry, here:
https://brainly.com/question/7721379
#SPJ1
any business ideas u guys want to do in the future?
Explanation:
I would like to be a pathologist because they peform autospys which is when they figure out how a person died or a paramedic
hurry!! #6
In the record handling system, how is storage different from retention?
Storage involves the keeping of records for an indefinite period and developing policies for who can have access. Retention involves the filing, indexing, and locator systems.
Retention involves the facilities and procedures for keeping inactive records, electronic back-up systems, disaster plans, and security. Storage involves the policies for how long to keep records, which records to keep and which to destroy.
Retention involves the keeping of records for an indefinite period and developing policies for who can have access. Storage involves the filing, indexing, and locator systems.
Storage involves the facilities and procedures for keeping inactive records, electronic back-up systems, disaster plans, and security. Retention involves the policies for how long to keep records, which records to keep and which to destroy.
Answer:
Storage involves the facilities and procedures for keeping inactive records, electronic back-up systems, disaster plans, and security. Retention involves the policies for how long to keep records, which records to keep and which to destroy.
Explanation:
How does buying decision process differ when you shop online or using mobile device compared to shopping in a physical store based on time spent, location, sites visited and brand examined
The buying decision process can differ when shopping online or using a mobile device compared to shopping in a physical store in terms of time spent, location, sites visited, and brand examination.
Online and mobile shopping provide convenience, wider access to products, and the ability to compare prices and reviews easily. In contrast, shopping in a physical store allows for immediate gratification, physical interaction with products, and personalized assistance from sales staff.
When shopping online or using a mobile device, the process can be more time-efficient as consumers can quickly search for products, browse multiple websites or apps, and make purchases with just a few clicks. Location becomes less of a constraint as consumers can shop from anywhere with an internet connection. They can visit multiple sites, read product descriptions and reviews, and compare prices to find the best deal. Brand examination may involve exploring various online platforms, checking customer ratings, and seeking recommendations from online communities.
In contrast, shopping in a physical store involves spending time traveling to the store and physically examining products. The location is fixed to the store's physical address. Consumers may visit different stores to compare options, touch and feel the products, and seek advice from store personnel. Brand examination in a physical store typically involves looking for recognizable brands, checking packaging and labels, and relying on previous brand experiences or recommendations from friends and family.
In summary, the buying decision process differs between online/mobile shopping and shopping in a physical store in terms of time spent, location flexibility, the variety of sites visited, and brand examination methods. Online/mobile shopping offers convenience, wider access, and ease of comparison, while physical store shopping provides immediate gratification, physical interaction, and personalized assistance.
Learn more about shopping here: brainly.com/question/14058717
#SPJ11
U.S. beer manufacturers want to increase exports of beer to Canada by lowering the price of U.S. beer in Canada. For this to happen, you advise your clients to ask the United States to approach Canada about
a)imposing a tariff.
b) removing an export quota. c)removing a tariff.
d) imposing an import quota.
You suggest to your customers that in order for this to occur, the United States should speak with Canada about reducing a tariff. (Choice c)
Why do you use the word tariff?A tariffs is a levy imposed on the import or export of products by the administration of a nation or by a transnational union. Import tariffs can regulate international trade and serve as a means of supporting or defending home business in addition to providing the government with cash. The word "tariff" comes from the French "tarif," which means "set price." Italian "tariffa," which means "required price; schedule for taxes and customs," comes from Medieval Latin "tariffe," which means "fixed price."
To know more about tariff visit:
https://brainly.com/question/22685610
#SPJ1
Which of the following statements is true of informal communication channels? Group of answer choices They are authorized, planned, and regulated by the organization. They define who has responsibility for information dissemination and indicate the proper recipients of work-related information. They facilitate vertical rather lateral communication among organizational members more often than formal communication channels. They are developed through interpersonal activities of organization members and facilitate faster information flow.
the best alternative is option D. The statement that is true of informal communication channels is option d. Informal communication channels are developed through interpersonal activities of organization members and facilitate faster information flow.
These channels are not authorized, planned, or regulated by the organization, and they do not define who has responsibility for information dissemination or indicate the proper recipients of work-related information. Instead, informal channels are spontaneous and often based on personal relationships and social connections. They can facilitate both vertical and lateral communication among organizational members, but they are most effective at transmitting information quickly and efficiently. However, because they are not regulated, informal channels can also be prone to rumors and misinformation, so it is important for organizations to balance the benefits of informal communication with the need for accuracy and transparency in their official communication channels.
to know about informal channel visit:
https://brainly.com/question/13550112
#SPJ11
population growth rates are high in developing countries because a.infant mortality rates are low b.family planning is common c.children are often an economic advantage d.women tend to have children late in life
Children frequently represent a significant economic advantage in developing nations, resulting in high population growth rates.
What effect does rapid population growth have on economic expansion and development?Quick populace development makes it more challenging for low-pay and lower-center pay nations to manage the cost of the expansion in open uses on a for every capita premise that is expected to destroy neediness, end yearning and hunger, and guarantee general admittance to medical care, schooling and other fundamental administrations.
What advantages does having a high rate of population growth bring to a nation?Since more people will be able to produce more goods as a result of population growth, the economy will expand. It will result in increased tax revenues that can be used for public goods like environmental projects and health care.
To learn more about population growth rates here:
https://brainly.com/question/14122627
#SPJ4
Please help with economics for 100 points and brainliest
Answer: Okay, I’ll try.
Explanation:
the answer to your question is A
What type of pricing strategy involves consumers making a judgment about a product and its
quality based on its price compared with a similar product?
O reference pricing strategy
Oprice lining strategy
O fair price strategy
O odd pricing strategy
Answer: reference pricing strategy
Explanation:
If you have any doubt if something is permitted, ask me first. Question 10 Suppose a 90% confidence interval for the population mean turns out to be (62,71). Which of the following is the correct inte
The correct interpretation of "90% confident" as an inference given a 90% confidence interval for the population mean (62,71) is: In repeated sampling, 90% of the population means would fall inside the given interval. Therefore, the correct option is B.
A confidence interval is a range of values that is probable to contain the unknown population parameter. The probability that the unknown population parameter is contained by the interval is represented by the confidence level. Confidence intervals are utilized to estimate population parameters like population mean, population proportion, and population standard deviation. The degree of confidence for the estimation is specified by the confidence level. The most common confidence levels are 90%, 95%, and 99%.
If a confidence level of 90% is used, it implies that 90% of the sample statistics that were obtained from repeated sampling methods will fall in the interval that we have estimated. Confidence intervals may be obtained for nearly any population parameter that we want to estimate, such as a population mean, a population proportion, or a population variance, among others. Therefore, the correct option is B.
Note: The question is incomplete. The complete question probably is: Suppose a 90% confidence interval for the population mean turns out to be (62,71). Which of the following is the correct interpretation of what it means to be "90% confident" as an inference? A) 90% of the observations from the sample fall in the given interval. B) In repeated sampling, 90% of the population means would fall inside the given interval. C) Correct interpretation is not given D) 90% of the observations in the entire population fall in the given interval.
Learn more about Confidence interval:
https://brainly.com/question/20309162
#SPJ11
examples of frictional force
Explanation:
I hope this would be the right answer....When preparing financial statements, company management Multiple choice question. usually fraudulently misstates assets and liabilities. precisely measures all assets and liabilities. does not need to make any judgments. must follow accepted accounting standards.
When preparing financial statements, company management must follow accepted accounting standards. The correct option is the last one, must follow accepted accounting standards.
What are financial statements?A financial statement is an official record of a company's financial activities. A financial statement can provide a comprehensive picture of a company's economic status by detailing its financial operations, including profit and loss, assets and liabilities, and cash flow.
Financial statements are typically prepared annually, but they may also be created on a quarterly or monthly basis. It is critical to maintaining the financial health of any organization.
Why should company management follow accepted accounting standards?It is essential that the management of a company follows accepted accounting standards while preparing the financial statements. It ensures that all of the financial reports are both clear and truthful. By following accounting rules, the financial statements will become more reliable, credible, and informative to various parties that use them.
Financial statements are used by investors to gauge the worth of a company, creditors to assess a company's creditworthiness, and other interested parties like regulators, governments, etc. It is in the interest of the company to be transparent and present accurate financial statements because if it fails to do so, it may lead to legal and financial repercussions.
Therefore, the management of a company must follow accepted accounting standards when preparing financial statements.
To know more about financial statements click on below link :
https://brainly.com/question/14951563#
#SPJ11
5. Groceries are considered what type of an expense?
Answer:
Fixed
Explanation:
Answer:
Necessary expense
Explanation:
You kinda need food to live
which is not a cost of holding less inventory? group of answer choices the firm will need more working capital you might run out of goods to sell. customers might not find the product they want. firms need to pay closer attention to the amount of inventory.
The firm will need more working capital is not a cost of holding less inventory.
Inventory is a part of working capital for a business. Items held for sale by a business as part of its regular operations, goods being readied for sale, and raw materials or supplies meant for use in production make up the three categories of inventory.
The difference between a company's current assets and current liabilities is used to determine working capital. Since it is anticipated that inventory will be used and generate revenue within a year, it is categorized as a component of current assets, or short-term assets.
Products in inventory are those that a business possesses and intends to utilise in its manufacturing process in the upcoming calendar year. There are three different types of inventory: finished commodities, work-in-progress, and raw materials. Work-in-progress inventory refers to things that have gone through a particular level of processing on a company's manufacturing line but are not yet final goods. Raw materials can include commodities like metal or oil. Finished goods are items that a business can put up for sale. Due to the nature of their operation, certain companies, like garment stores, may not include raw materials or work in progress in their inventory.
To know more about inventory:
https://brainly.com/question/13163950
#SPJ4
You estimate your annual revenue to be 50,000 + 20,000y, where y is the number of years in business. What is your estimated revenue in 5 years?
Answer:
D.) 150,000
Explanation:
Multiply 20,000 by 5 =100,00 then add 50,000
2. What types of things does a hospitality manager do?
3. What courses or information would be helpful for a hospitality manager?
please help
Answer:
2. What is a hospitality manager?
In general, hospitality managers oversee the day to day operations of a hotel or restaurant, which includes managing personnel, ensuring guest satisfaction, and following the appropriate steps to ensure that the facilities are well-maintained. Hospitality managers are also required to oversee the upkeep of financial and administrative records.
3. First, find a good mentor
second Be selective in your hiring
third Focus on leadership, not management
fourth Communicate, communicate, communicate
fifth Listen to your guests
sixth Keep learning
Explanation:
Hope this helps...
describe the color white to a blind person