In this diagram, the statement that could be an example for the direction labeled "O" is: "You save earnings in a bank account." (Option C). This above diagram is simple model of the flow of money supply or the circular flow of income.
What is money supply?The money supply in macroeconomics refers to the total volume of cash owned by the public at a certain point in time. There are various ways to describe "money," but the most common are currency in circulation and demand deposits.
What is the circular flow of income?The circular flow of revenue, also known as the circular flow, is an economic model in which important transactions are represented as flows of money, commodities and services, and so on between economic players.
Money and products traded in a closed circuit have the same value but flow in the opposite direction.
Hence, it is correct to state that In the above diagram, the statement that could be an example for the direction labeled "O" is: "You save earnings in a bank account."
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Answer:
C. You save earnings in a bank account.
Explanation:
Took the test and got it right!
Have a nice day!
1. What uncertainties are relevant when designing global supply chains? 2. Explain different strategies that may be used to mitigate risk in global supply chains.
1. When designing global supply chains, several uncertainties can be relevant. These include:
Geopolitical risks: Political instability, trade disputes, changes in regulations, and economic fluctuations can impact global supply chains. Uncertainties regarding government policies, tariffs, and trade agreements can disrupt the flow of goods and impact sourcing decisions.Natural disasters and climate change: Natural disasters such as earthquakes, hurricanes, and floods can disrupt transportation routes, damage infrastructure, and affect production capabilities. Climate change can lead to unpredictable weather patterns, affecting logistics and sourcing decisions.Supplier and vendor risks: Uncertainties related to supplier reliability, quality control, capacity, and financial stability can impact the efficiency and reliability of global supply chains. Sudden changes in supplier capabilities or disruptions in the supply chain can lead to delays and increased costs.Technology and cybersecurity: Rapid advancements in technology and the increasing reliance on digital systems introduce uncertainties related to data security, cyber threats, and the integration of new technologies into supply chain processes. Ensuring the resilience and security of digital systems is crucial for mitigating risks.2. Various strategies can be employed to mitigate risks in global supply chains. These include:
Diversification of suppliers and sourcing: Relying on a single supplier or sourcing location increases vulnerability to disruptions. By diversifying suppliers and sourcing from multiple regions, companies can reduce the impact of uncertainties and ensure continuity of supply.Enhanced communication and collaboration: Effective communication and collaboration with suppliers, partners, and stakeholders can help identify and address potential risks. Sharing information, conducting regular audits, and building strong relationships can improve supply chain visibility and responsiveness.Risk assessment and contingency planning: Conducting thorough risk assessments to identify potential vulnerabilities and developing contingency plans can help mitigate the impact of disruptions. This includes developing alternative sourcing options, maintaining safety stock, and implementing backup plans for critical components.Technology adoption: Leveraging technology solutions such as supply chain management systems, real-time tracking, and analytics can enhance visibility, enable proactive risk management, and facilitate efficient decision-making.Continuous monitoring and adaptability: Supply chain risks evolve over time, so continuous monitoring and adaptation are essential. Regularly reassessing risks, updating strategies, and staying informed about industry trends and emerging risks can help organizations proactively respond to uncertainties.By implementing these strategies, companies can enhance the resilience and flexibility of their global supply chains, reduce vulnerabilities, and mitigate the impact of uncertainties.
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Match the product examples with the type of product classification.
The product examples with the type of product classification are shoes, car, iphone, milk.
What is product classification?Product classification is the process of grouping products into distinct categories based on similar characteristics. It is a way to organize products into helpful and meaningful groups to make it easier for customers to find what they are looking for. The categories can be based on product type, purpose, or even pricing. It is important for businesses to classify their products properly in order to make it easier for their customers to find what they are looking for, as well as to make sure they are not missing any potential customers by leaving out a product category. Additionally, product classification can also be used to gain insight into customer behavior and preferences so that businesses can better tailor their product offerings to meet customer needs.
1. Shoes - Consumer Goods
2. Car - Durable Goods
3. iPhone - Consumer Electronics
4. Milk - Fast-Moving Consumer Goods (FMCG)
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What is a market economy regulated by?
Answer:
Producers and consumers :)
Explanation:
Market economies are run by buyers and sellers, there is no government involved.
abigail bought 28 shares of stock at $30.00 per share. she received dividend of $49.50 during the year. at the end of the year, her stock was valued at $43.50 per share. what was her ROI?
If her stock was valued at $43.50 per share. Her ROI is:50.89%
Return on investmentFirst step
Purchase price=(28×$30)-(28×$43.50)
Purchase price= $840-$1218
Purchase price=$378
Gain in value=$378+ $49.50
Gain in value=$427.5
Second step
ROI=$427.5/$840×100
ROI=50.89%
Therefore the ROI is $15.89%.
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Pina Corporation purchases a patent from Blossom Company on January 1,2025 , for $59,000. The patent has a remaining legal life of 15 years. Pina estimates the patent will have a useful life of 10 years, based on expected product innovations in the market. Prepare Pina's journal entries to record the purchase of the patent and 2025 amortization. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.)
The journal entries to record the purchase of the patent and 2025 amortization for Pina Corporation would be as follows:
Purchase of the patent:
Date: January 1, 2025
Patent (Asset) $59,000
Cash (or Accounts Payable) $59,000
Explanation: This entry records the purchase of the patent from Blossom Company. The patent is recorded as an intangible asset on the balance sheet, and the cash (or accounts payable) is decreased by the amount paid for the patent.
2025 Amortization:
Date: December 31, 2025
Amortization Expense (Operating Expense) $5,900
Patent (Asset) $5,900
This entry records the amortization expense for the year 2025. The patent's useful life is estimated to be 10 years, so the annual amortization expense is calculated as the purchase price divided by the useful life. In this case, $59,000 divided by 10 years equals $5,900. The amortization expense is recognized as an operating expense, and the patent's carrying value is reduced accordingly.
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what is the best definition of the short term in the short-term model? group of answer choices there is no such thing as the short term. the amount of time the economy spends at its potential output the length of a recession the length of time for short-term deviations to return to their long-run values about two years
The best definition of the short term in the short-term model is the length of time for short-term deviations to return to their long-run values of about two years. (option c).
When it comes to the short-term model, it refers to the study of the economy's performance within a relatively brief period. This approach focuses on the immediate factors that impact the economy, such as changes in interest rates, consumer spending, and government policies.
The definition of the short term in the short-term model can vary depending on the context.
This definition emphasizes the idea that short-term changes or fluctuations in the economy are temporary and will eventually revert to their long-term values.
So, the correct option is (c).
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Think about a country where most economic production results in air pollution that creates lots of smog. What would be the trade-off if the bad result (air pollution) were reduced?
A. less of the activity that creates lots of smog
B. lower incomes
C. higher incomes
D. more of the activity that creates lots of smog
it is not A
Answer:
Option B is correct.
Explanation:
A specific risk of minimizing or eliminating bad operation must be paid. That would increase that general amount of inflation as well as lower productivity and profits, as a majority of the expenses must be borne by the government instead.
That's the compromise social system has to deal with, increased costs of earnings with far more pollution, or reduced earnings smog.
Option A is incorrect according to the following scenario because the activity that generates a range of pollution could not be achieved. Option C is incorrect according to the following scenario because we already describe that lower-income is the appropriate option. Option D is incorrect according to the following scenario because more activity, which generates much pollution, isn't really feasibleHow does the representative consumer respond to an increase in the real wage?
a. Consumption increases.
b. Labour supply decreases.
c. Labour supply increases.
d. Consumption decreases.
The representative consumer typically responds to an increase in the real wage by increasing their labor supply. Therefore, option c, "Labor supply increases," is the correct answer.
When the real wage increases, it implies that the consumer can earn a higher income for each hour of work. This creates an incentive for the representative consumer to supply more labor, as they can now earn more for their effort. The increase in the real wage makes working more attractive, leading to a higher quantity of labor supplied.
It's important to note that the consumer's response to an increase in the real wage may vary depending on individual preferences, labor market conditions, and other factors. However, the general tendency is for individuals to respond positively to higher wages by choosing to work more. This is consistent with the standard labor supply theory, where individuals make decisions based on the trade-off between leisure and income.
Therefore, option c, "Labor supply increases," accurately reflects the typical response of the representative consumer to an increase in the real wage.
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Answer:
ja. what do you want to ask?
Answer:
Am sorry but there is no question please
what was one benefit some economists believed would result from supply-side economics? 6.05
Supply-side economics is a theory that argues that tax cuts and deregulation will lead to economic growth.
One benefit some economists believed would result from supply-side economics was increased economic growth. They argued that by cutting taxes and reducing regulation, businesses would have more incentive to invest and grow, which would lead to more jobs and higher wages.
There is some evidence to support this claim. For example, the United States experienced a period of strong economic growth in the 1980s, which some economists attribute to the supply-side policies of President Ronald Reagan. However, other economists argue that the economic growth of the 1980s was due to other factors, such as the deregulation of the financial industry.
Ultimately, the impact of supply-side economics on economic growth is a complex issue that is still debated by economists. However, there is no doubt that it is a controversial theory that has had a significant impact on economic policy.
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classify the following items as direct materials, selling and administrative expense, factory overhead, or direct labor.
a. Factory overhead, b. Selling and administrative expense, c. Direct materials, d. Factory overhead, e. Direct labor, f. Direct materials, g. Selling and administrative expense, h. Selling and administrative expense, i. Factory overhead j. Selling and administrative expense and k. Selling and administrative expense respectively.
a. Rent expense on factory building: Factory overhead
Rent expense on the factory building is considered part of factory overhead because it directly relates to the production process. It is an indirect cost that supports the manufacturing operations.
b. Sales supplies used: Selling and administrative expense
Sales supplies used are typically associated with the selling and administrative functions of a company. These expenses are necessary for marketing, sales, and administrative activities related to the promotion and distribution of products or services.
c. Factory supplies used: Direct materials
Factory supplies used in the production process, such as raw materials or components, are classified as direct materials. They are directly involved in the manufacturing of the final product.
d. Indirect materials used: Factory overhead
Indirect materials, such as lubricants, cleaning supplies, or small tools used in the production process, are considered part of factory overhead. They are necessary for manufacturing but do not become an integral part of the final product.
e. Wages of assembly line personnel: Direct labor
Wages paid to assembly line personnel who directly contribute to the production of goods are classified as direct labor. These employees are directly involved in the manufacturing process and their wages are directly attributable to the cost of producing the product.
f. Cost of primary material used to make the product: Direct materials
The cost of the primary material used to make a product is classified as direct materials. It refers to the main component or raw material that becomes an integral part of the final product.
g. Depreciation on office equipment: Selling and administrative expense
Depreciation on office equipment is considered a selling and administrative expense because it relates to the administrative operations of the company. It includes the wear and tear or obsolescence of office equipment used for non-production purposes.
h. Rent on office facilities: Selling and administrative expense
Rent on office facilities is part of selling and administrative expenses. It includes the cost of renting office spaces for administrative operations, sales activities, and other non-production-related functions.
i. Insurance expired on factory equipment: Factory overhead
Explanation: Insurance expenses related to factory equipment are considered part of factory overhead. These costs protect the assets used in the manufacturing process and are necessary to ensure the smooth operation of the factory.
j. Utilities incurred in the office: Selling and administrative expense
Explanation: Utilities incurred in the office, such as electricity, water, or internet expenses, are classified as selling and administrative expenses. They are associated with the administrative functions and support the day-to-day operations of the office.
k. Advertising expense: Selling and administrative expense
Explanation: Advertising expenses are considered selling and administrative expenses. They include costs incurred for marketing and promotional activities to create awareness, attract customers, and generate sales for the company's products or services.
The complete question should be:
Classify the following items as Direct materials, Selling and administrative expense, Factory overhead, or Direct labor:
a. Rent expense on factory building
b. Sales supplies used
c. Factory supplies used
d. Indirect materials used
e. Wages of assembly line personnel
f. Cost of primary material used to make product
g. Depreciation on office equipment
h. Rent on office facilities
i. Insurance expired on factory equipment
j. Utilities incurred in the office
k. Advertising expense
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Marcia has always loved nike apparel for its style and comfort. She needs new workout pants, so she purchases a pair at the nike store. This is an example of which type of purchase decision?.
Marcia has always loved Nike apparel for its style and comfort. She needs new workout pants, so she purchases a pair at the Nike store. This is an example of limited problem-solving.
Limited problem-solving is a method through which people buy products from a company or place with which they have had an experience before. Based on past experience, they tend to make new experiences by purchasing new things from the same store.
Limited problem-solving is a method that allows you to buy products based on your prior experience with a brand. As your previous encounter with the brand was up to the mark, you begin to trust it and buy new products from it. Limited problem solving helps in building trust in a brand if the experience is continuously good from buying from that source.
As Marcia's experience with Nike was good before, hence she is using the limited problem-solving method for buying workout pants from there as well.
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How cash inflow and outflow affects the components of a financial plan
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Assume that the united states current account balance is zero. If the united states dollar appreciates against the japanese yen, then demand for united states exports will:.
If the United states dollar appreciates against the Japanese yen, then demand for united states exports will increase.
What is Export?These are the goods and services produced in a country and sold into another country.
When the currency of United states dollar appreciates against the Japanese yen, there will be lesser cost in the production of such goods which will lead to increase in export demands.
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What are some suggestions of what "leaders should do" and what "leaders should NOT do". What are they?
Leadership is not something that comes naturally to everyone. That said, there are specific things leaders should do and things they should avoid to become effective leaders. The following are a few tips on what leaders should do and what they shouldn't:
1. Set a Good Example: Leaders should act as role models for their team members. If they're responsible, on time, and professional, team members are more likely to do the same.
2. Communication is Key: A leader's ability to communicate is one of the most critical qualities. Communicate on a regular basis, being honest, open, and empathetic in your interactions.
3. Be Clear About Your Vision: Effective leaders make it clear to their team what they want to achieve and how they plan to get there.
4. Inspire Your Team: Leaders should inspire their team members to put forth their best effort to achieve the company's goals.
5. Give Credit Where Credit is Due: Recognize employees for their efforts and successes.
Leaders should NOT do are as follows:-
1. Avoid Making Assumptions: Effective leaders need to take the time to research and study problems in depth. They shouldn't make assumptions or base their decisions on a gut feeling.
2. Don't Avoid Difficult Conversations: If a leader ignores a tough situation, it will only get worse. Have the hard discussions that need to be had, and address issues head-on.
3. Don't Play the Blame Game: Rather than pointing fingers, effective leaders take responsibility for their team's success and failures.
4. Don't Let Power Get to Your Head: Leaders must keep in mind that they're only human. They must keep themselves in check and avoid letting power get to their heads.
5. Avoid Micromanaging: Micromanaging can lead to low morale and a lack of trust between a leader and their team members. This undermines the team's effectiveness.
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write a short note on meditation
Answer:
Explanation:Meditation is a practice where an individual uses a technique – such as mindfulness, or focusing the mind on a particular object, thought, or activity – to train attention and awareness, and achieve a mentally clear and emotionally calm and stable state.
Repetitive manufacturing is appropriate when making repeat production at a committed production rate. a) True b) False Question 6 The ROI is a fundamental measure of the efficiency with which a firm manages its assets. I answers the question: "How much profit is the firm generating from the use of its assets". True False The main problem with push systems is that they are based on forecasts that are almost: alurays righ. a) True b) False
Repetitive manufacturing is appropriate when making repeat production at a committed production rate. The given statement is true. The ROI is a fundamental measure of the efficiency with which a firm manages its assets. The given statement is true. The main problem with push systems is that they are based on forecasts that are almost never right. The given statement is true.
Repetitive manufacturing is appropriate when making repeat production at a committed production rate. The given statement is true. Repetitive manufacturing is a production process in which a product is manufactured with the same specifications on a continuous basis. It is used for the production of high-volume, standardized goods with the same requirements and minimal variability. It can be used to manufacture a wide variety of products, including toys, food, and consumer goods.
The statement "Repetitive manufacturing is appropriate when making repeat production at a committed production rate" is true. This is because repetitive manufacturing is ideal for producing the same products over and over again at a set production rate.
This process works best when there is a stable demand for a product or when there is a long-term commitment to produce a specific product. This ensures the availability of the necessary equipment, materials, and workforce to achieve the desired production rate.
The ROI is a fundamental measure of the efficiency with which a firm manages its assets. The given statement is true.
ROI stands for Return on Investment. It is a metric used to determine the profitability of an investment or to evaluate the efficiency with which a company uses its resources. It is a measure of how much profit a company generates from the use of its assets. ROI can be calculated using a simple formula, which is the net profit divided by the total investment. The higher the ROI, the more efficient the company is at using its assets.
The main problem with push systems is that they are based on forecasts that are almost never right. The given statement is true.
A push system is a production system in which production is driven by forecasts of future demand. This is the opposite of a pull system, which is based on actual customer demand.
The main problem with push systems is that forecasts are often wrong. This can lead to overproduction, which can result in inventory buildup and waste.
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During the year, Horace earned investment income of $13,500, incurred investment interest expense of $7,700, and other investment expenses of $9,000. Horace may carry over $3,200 of investment interest and deduct it in the future. (Correct/Incorrect state the reason)
"During the year, Horace earned an investment income of $13,500, incurred investment interest expense of $7,700, and other investment expenses of $9,000. Horace may carry over $3,200 of investment interest and deduct it in the future." This statement is True.
Investment is the willpower of cash to the acquisition an asset to attain an increase in fee over a period of time. funding requires a sacrifice of some present asset, inclusive of time, money, or effort. In finance, the purpose of investing is to generate a go back from the invested asset.
income investing is a funding strategy that is focused on building a funding portfolio specially established to generate ordinary earnings. the only objective of the profits investing method is to generate a steady move of earnings.
Funding is something we put our money in to assist its development. If we simply preserve our money in a piggy financial institution or drawer, it won't earn any money for us.
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FEATURES OF FINANCIAL INSTITUTIONS
Answer:
The financial institutions provide loans and advances to the customers. The rate of return is very high in case of investment made in this type of institution. It also gives a high rated consultancy to the customers for their beneficial investments. It also serve as a depository for their customers.
Explanation:
The financial institutions provide loans and advances to the customers. The rate of return is very high in case of investment made in this type of institution. It also gives a high rated consultancy to the customers for their beneficial investments. It also serve as a depository for their customers.
What are some ways that you've seen department stores,online stores , online stores,or social media ads try to activate the amygdala and encourage you to buy products
I can provide some examples of how retailers and advertisers try to activate the amygdala and encourage consumers to make purchases.
One way is through the use of persuasive language that creates a sense of urgency or scarcity. Retailers may use phrases such as "limited time only" or "while supplies last" to create a sense of urgency, while online stores may use pop-ups or banners to display how many items are left in stock.
Another way is through the use of social proof, such as customer reviews or celebrity endorsements, to create a sense of popularity and desirability around a product. This can activate the amygdala by making consumers feel like they are missing out on something if they don't also make a purchase.
Additionally, personalization and targeted advertising can create excitement and anticipation for a product, while emotional messaging or imagery can create a positive association between the product and a particular feeling or lifestyle, such as happiness or luxury. These tactics can all activate the amygdala and encourage consumers to make an emotional connection with the product and ultimately make a purchase.
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What hootsuite analytics feature allows you to share an unlimited amount of customizable social analytics data, to surface the performance of your organization’s social accounts to key stakeholders?.
The Reports feature of hootsuite analytics allows one to share an unlimited amount of customizable social analytics data.
The Hootsuite Analytics is to used to measure the performance of someone's social media activity across multiple social networks.
The reports feature of hootsuite analytics allows one to share an unlimited amount of customizable social analytics dataThe reports feature of hootsuite analytics helps to surface the performance of your organization’s social accounts to key stakeholders.
Hence, the Report features is the answer.
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jazakallah khair allah hu akbar
TRUE / FALSE. the disadvantage of accounts receivable financing is the negative impact on cash flow.
False. The statement is false. The advantage of accounts receivable financing is that it provides immediate cash flow by converting accounts receivable into cash. It allows businesses to access funds that would otherwise be tied up in unpaid invoices, thereby improving cash flow.
While accounts receivable financing provides immediate cash flow by converting receivables into cash, it also involves certain costs and fees. These costs can have a negative impact on the overall cash flow of a business. Factors such as interest charges, service fees, and discount rates can reduce the amount of cash received from the financing arrangement.
Additionally, accounts receivable financing is a form of borrowing, and the repayment of the financing may require regular payments that can further affect cash flow. It is important for businesses to carefully consider the costs and terms associated with accounts receivable financing and assess its impact on their cash flow before pursuing this financing option.
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Which of the following best exemplifies structural unemployment?
A college graduate is looking for her first job.
An unemployed electrician does odd jobs for cash on the weekends.
A surveyor was laid off when his company relocated to the Midwest.
A real estate agent is looking for a new brokerage that pays better commissions.
A high school student who worked part-time at Chick-Fil-A® was laid off when sales fell.
Answer: A surveyor was laid off when his company relocated to the Midwest is an example of structural unemployment .
Explanation: Structural unemployment occurs due to job relocation, skill mismatches, rapidly growing population, slow rate of capital formation, demand for labor fall short.
And also due to the fundamental changes in the structure of the economy.
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One helpful feature of most web 2.0 organization software is that ________. a. it requires one particular internet browser b. it is usually downloaded to a computer hard drive c. it has a complex user interface d. it can usually be synced to a handheld device
Answer:
The answer is d. it can usually be synced to a handheld device
Explanation:
One helpful feature of most web 2.0 organization software is that it can usually be synced to a handheld device.
what eu audiovisual program(s) offer(s) financial and other support to the media industry?
The European Union has several audiovisual programs that provide financial and other support to the media industry. Some of the notable programs include the Creative Europe MEDIA, the European Fund for Strategic Investments, and the Digital Europe Programme.
The Creative Europe MEDIA is one of the EU's flagship programs that offers funding opportunities for the audiovisual industry. It supports the development, distribution, and promotion of European audiovisual works, including films, television series, video games, and interactive content. The program provides funding for co-production, distribution, training, and festivals, among other activities.
The European Fund for Strategic Investments (EFSI) is another program that provides financial support to the audiovisual sector. It aims to stimulate investment in strategic sectors, including culture and creative industries, through a guarantee provided by the EU budget.
The Digital Europe Programme is a new program that supports the development and deployment of digital technologies across Europe. It offers funding opportunities for the media industry to develop innovative digital solutions and improve its competitiveness in the digital age.
In addition to these programs, the EU also provides support to the media industry through various initiatives, such as the Media Literacy for All and the European Media Initiative. These initiatives aim to promote media literacy and pluralism, improve the quality of journalism, and foster cross-border cooperation in the media sector.
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Which selling approach is considered direct and focuses mainly on convincing the buyers that the item is needed?
A. upselling
B. consultative selling
C. relationship selling
D. personal selling
E. traditional selling
Answer:
Which selling approach is considered direct and focuses mainly on convincing the buyers that the item is needed?
A. upselling
B. consultative selling
C. relationship selling
D. personal selling
E. traditional selling
answer is B
The selling approach that is recognized direct and lays emphasis primarily on persuading the buyers about the need of the item would be:
D). Personal selling.
'Personal selling' is described as the selling approach in which the seller hires salesmen to get their products sold directly to the customers. In this technique, the salesman personally interacts with the consumers and uses his/her communication or other skills to convince them about the quality and the worth of the product. They often practically show the effects of the product to the consumers so that they are persuaded to buy it and they can make a maximum sale.Thus, option D is the correct answer.
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pooler corporation is working on its direct labor budget for the next two months. each unit of output requires 0.20 direct labor-hours. the direct labor rate is $7.00 per direct labor-hour. the production budget calls for producing 6,600 units in april and 6,400 units in may. if the direct labor work force is fully adjusted to the total direct labor-hours needed each month, what would be the total combined direct labor cost for the two months?
The total combined direct labor cost for the two months would be $18,200.
To calculate the total combined direct labor cost for the two months, we need to determine the total direct labor-hours required and multiply it by the direct labor rate.
In April:
Number of units produced = 6,600
Direct labor-hours per unit = 0.20
Total direct labor-hours required in April = Number of units produced * Direct labor-hours per unit
= 6,600 * 0.20
= 1,320 direct labor-hours
Direct labor rate = $7.00 per direct labor-hour
Direct labor cost in April = Total direct labor-hours required in April * Direct labor rate
= 1,320 * $7.00
= $9,240
In May:
Number of units produced = 6,400
Direct labor-hours per unit = 0.20
Total direct labor-hours required in May = Number of units produced * Direct labor-hours per unit
= 6,400 * 0.20
= 1,280 direct labor-hours
Direct labor rate = $7.00 per direct labor-hour
Direct labor cost in May = Total direct labor-hours required in May * Direct labor rate
= 1,280 * $7.00
= $8,960
Total combined direct labor cost for the two months = Direct labor cost in April + Direct labor cost in May
= $9,240 + $8,9600
= $18,200
Therefore, the total combined direct labor cost for the two months would be $18,200.
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Supply curves tend to be:
A. perfectly clastic in the long run because consumer demand will have sufficient time to adjust fully io changes in sipply.
B. more elastic in the long run because there is time for fims to enter or leave the industry.
C. less elastic in the long run because there is time for fims to enter or leave an industry.
D. perfectly inclastic in the long run hecause the law of scarcity imposes absolute limits on production.
The supply curves tend to be more elastic in the long run because there is time for firms to enter or leave the industry. Hence option (b) is the answer.
What is a supply curve?The relationship between the price of an item or service and the volume supplied over a specific time period is represented graphically by the supply curve. In the meantime, there are two kind of supply curves: market supply curves and individual supply curves.
The market supply schedule is represented by market supply curves, while individual supply curves graph the individual supply schedule. The quantity of items is represented by the horizontal axis at the bottom and the price is represented by the vertical axis on the left side of the supply curve graph.
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