Which approach claims that it is possible to reduce unit labor costs by increasing wages? Marginal productivity theory Investment Human Capital model Job Competition Theory Efficiency Wage model
Answers
The Efficiency Wage model claims that it is possible to reduce unit labor costs by increasing wages.
The Efficiency Wage model proposes that paying higher wages to employees can lead to cost savings and increased productivity for the firm, despite the initial increase in labor costs. This theory suggests that there are several mechanisms through which higher wages can result in lower unit labor costs:
1. Improved worker motivation and effort: According to the Efficiency Wage model, higher wages act as an incentive for employees to work harder and be more productive. When workers are paid above the market rate, they tend to have a greater sense of job satisfaction and loyalty to the company. This increased motivation and effort can result in higher productivity levels and, consequently, lower unit labor costs.
2. Reduced turnover and recruitment costs: Offering higher wages can help attract and retain high-quality employees. When wages are competitive or above market rates, employees are less likely to seek employment elsewhere, reducing turnover rates. Lower turnover means the company spends less on recruitment, training, and onboarding of new employees. This reduction in recruitment costs can offset the higher wages paid to existing employees, leading to lower overall unit labor costs.
3. Enhanced worker quality and skill level: Higher wages can also attract a higher caliber of workers. When firms offer better compensation packages, they can attract more skilled and experienced employees who are more productive. These skilled employees may require less supervision, make fewer errors, and contribute to higher overall efficiency. This improved worker quality can contribute to cost savings and lower unit labor costs.
4. Reduced shirking and absenteeism: The Efficiency Wage model suggests that higher wages create a reciprocal relationship between employers and employees. When employees are paid above market rates, they feel a greater sense of obligation and loyalty towards the company. This can reduce shirking (the intentional reduction of effort) and absenteeism rates, leading to increased productivity and lower unit labor costs.
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Related Questions
In a centralized organization, __________ make all the important decisions. Group of answer choices staff top managers shareholders front line managers project managers
Answers
It should be noted that in centralized organization, one individual make all the important decisions.
What is Centralization?
Centralization can be regarded as a business structure whereby the decision making is been done by an entity.
Therefore one individual makes the important decisions like resource allocation.
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A Suspense Account was opened for an
error of $30 found in the Trial Balance. Later
it was observed that sales were understated
by $30. This item would be corrected in the
journal by
Answers
The main answer is: Debiting Sales Account and Crediting Suspense Account.
To correct the error of understating sales by $30 in the journal, the Sales Account should be debited and the Suspense Account should be credited. This will rectify the understatement of sales and ensure that the Trial Balance reflects the accurate financial information.
When an error is identified in the Trial Balance, a Suspense Account is created to temporarily hold the amount of the error until it is corrected. In this case, an error of $30 was found in the Trial Balance, indicating that the sales figure was understated. To correct this error, the Sales Account, which represents the revenue generated from sales, needs to be increased by $30. Hence, the Sales Account is debited.
On the other hand, the Suspense Account, which was initially created to balance out the Trial Balance, now needs to be reduced by $30 since the error has been identified and will be corrected. Therefore, the Suspense Account is credited to decrease its balance by $30.
By debiting the Sales Account and crediting the Suspense Account, the error of understating sales by $30 is rectified. The Trial Balance will now accurately reflect the corrected sales figure, ensuring the financial statements present a true and reliable representation of the company's financial position.
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What principle does this demand curve demonstrate?
quantity demanded increases as prices decrease
quantity demanded increases as prices increase
prices decrease as quantity demanded decreases
prices remain the same as quantity demanded increases
Answers
Answer:
quantity demanded increases as prices decrease
Explanation:
Demand is the volume of a product that consumers are willing to buy at the market place at a given price over a given time. The demand curve is a graphical representation of the relationship between the demand and the product's price. It shows how quantity demanded increases as prices decrease. The demand curves illustrate the law of demand.
The demanded curve slope downwards with the prices plotted on the Y-axis while the quantity demanded is on the X-axis. Movement along the slope illustrates how quantities change at different prices.
Answer:
a
Explanation:
PLEASE HELP QUICKLY: (FIRST ANSWER GETS BRAINLIEST) PERSONAL & FAMILY FINANCE
Owen wants to start a tutoring business. He has a space rented and a lot of ideas, but he has no employees who can tutor the students. Which category of economic resource does he require?
labor
entrepreneurial ability
land
Answers
Answer:
entrepreneurial ability
Sorry, no one answered your question sooner, hope that helps.
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Reinvesting cash flow allows a firm produce additional products and generate additional sales.
O True
O False
Answers
Which is a characteristic of judging approach
Answers
Answer:
Clarity and Closure
Explanation
Judgers take a planned, ordered, and precisely calibrated approach to life, developing both short- and long-term plans to assist them in achieving their objectives. For them, schedules and "to-do" lists are consoling. They dislike uncertainty and change, preferring to know what they are getting into instead.
Those that have this preference feel more in control of their surroundings. They are disciplined and resolute, seeking resolution as soon as possible to reduce stress. Judgers struggle with open-ended plans because they have a "work first-play later" mentality. Instead of addressing issues as they arise, they would prefer to devise three distinct backup plans.
Judgers take their obligations and deadlines very seriously, both in business and in life. They are quite particular.
Since there is no presidential election this year what happens?
Best answer Brainliest
Answers
Answer:
uhh The president will stay the same
Explanation:
I'm smart :)
explain why hands-on activities and exploration are effective and use a specific example of a hands-on activity in your explanation.
Answers
Answer:
People learn by doing and experiencing things rather than just hearing about them. This is called hands-on learning. It is called "hands-on" because these activities usually require the use of the hands. For example, children might use manipulatives like cubes and boxes to learn about math, instead of just being taught the theory through books or pencil and paper exercises.
Young children learn best by doing, as this is their innate method of acquisition of new skills and knowledge. A child learns how to do things with their hands and body from the moment they are born. Play is still the best way to learn new things until they reach school age and beyond.
I hope this helps you
:)
As part of the initial investment, Ray Blake contributes equipment that had originally cost $97,300 and on which accumulated depreciation of $72,975 has been recorded. If similar equipment would cost $140,300 to replace and the partners agree on a valuation of $48,800 for the contributed equipment, what amount should be debited to the equipment account
Answers
Answer:
$48,800
Explanation:
the computation of the amount that should be debited to the equipment account is as follows:
Given that
The cost of an equipment is $97,300
the accumulated depreciation is $72,975
The replacement cost is $140,300
And, the valuation of the equipment is $48,800
So based on the above information, the amount that should be debited is equivalent to the valuation of the equipment i.e. $48,800
Communication may account for as much as____ of a hiring decision.
a. 25%
b. 40%
c. 65%
d. 80%
It isnt d or b. So its either a or c.
Answers
I hope this helps
Which of the following goods would be included in the calculation of gross domestic product? Select the two correct answers. (1 point)
1.Steel sold to an automobile manufacturer.
2.Notebooks sold to students.
3.French fries sold to customers at a restaurant.
4.Chemicals sold to pharmaceutical developers.
5.Lumber sold to construction firms.
Answers
Considering the available options, the goods that would be included in the calculation of gross domestic product include "Notebooks sold to students."
The other good that would be included in the calculation of GDP is "French fries sold to customers at a restaurant."
What is GDP?GDP or Gross Domestic Product as it's generally defined as the summation of consumer spending (C), business investment (I), government spending (G), and net exports.
Consumer spending is the sales of used goods and sales from inventories of goods.
Here the used goods include the Notebooks sold to students and French fries sold to customers at a restaurant.
Hence, in this case, it is concluded that the correct answer is options B and C.
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Suppose that Paolo divorces Sharon and leaves the family without paying alimony or child support. Sharon must now support her two children alone,
so she begins working full time and earns a total of $16,000. Are Sharon and her children living in poverty?
O Yes
O no
Answers
Answer:
yes, based on chart and the number of children. her income level is well bow poverty. if you multiple the number in household under 65 related the income level should be well above 16000
What other considerations do manufacturers have when deciding on the dimensions of the cans, besides minimizing the amount of material used
Answers
Answer:
Imagine that you are an engineer for a soda company, and you are tasked with finding the most economical shape for its aluminum cans. You are given a set of constraints: the can ust hold a volume V of liquid and be a cylindrical shape of height h and radius r, and you need to minimize the cost of the metal required to make the can.
(a) First, ignore any waste material that is discarded during the manufacturing process and just minimuze the total surface area for a given volume V. Using this constraint, show that the optimal dimensions are achieved when h = 2t.
(b) Next, take the manufacturing process into account. Materials for the cans are fut from flat sheets of metal. The cylindrical sides ar made form curved rectangles, and rectangles can be cut from sheets of metal with virtually no waste. However, when the disks of the top and bottom of the can are cut from flat sheets of metal, there is significant waste material. Assume that the disks are cut from squares with side lengths of 2r, so that one disk is cut out of each square in a grid. Show that in this case the amount of material is minimized when: h÷r = 8÷π ≈2.55 .
(c) It is far more efficient to cut the disks from a tiling of hexagons than from a tiling of squares, as the former leaves far less waste material. Show that if the disks for the lids and bases of the cans are cut from a tiling of hexagons, the optimal ratio is h ÷ r = 4√3 ÷ π ≈ 2.21 . Hint: The formula for the area of a hexagon circumscribing a circle of radius r is A = 6r ^2 ÷ √3.
(d) Look at a variety of aluminum cans of different sizes from the supermarket. Which models from problems a-c best approximate the shapes of the cans? Are the cans actually perfect cylinders? Are there other assumptions about the maufacture of the cans that we should take into account? Do a little bit of research, and write a response to answer some of these questions by comparing our models to the actual dimensions used.
Explanation:
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Seema is heading into her junior year of high school and received a large financial gift from her grandmother. She kind of wants to buy some new clothes, but she has a financial goal of saving for her college education, but she also wants to be able to buy a used car to get her to and from campus. What should Seema do with the money she's received?
Answers
Based on the given information Seema should deposit the money into a savings account.
What is savings account?A savings account is an account that allow a person to save while you earn an interest on the saved amount.
Since she has a financial goal of saving for her college education the best choice is for her to open a saving account and deposit the money given to her by her grandmother into the saving account as this will help her to achieve her set goal.
Inconclusion Seema should deposit the money into a savings account.
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An S corporation does not recognize a loss when distributing assets that are worth less than their basis. a) True b) False.
Answers
b) False. An S corporation does recognize a loss when distributing assets that are worth less than their basis.
When an S corporation distributes assets with a fair market value lower than their adjusted basis, it results in a loss for the corporation. This loss can be recognized and used to offset other income or gains of the S corporation, reducing its taxable income. It is important to note that shareholders of the S corporation may have limitations on deducting the loss on their personal tax returns. Loss refers to a financial outcome where the expenses or costs incurred by an individual, business, or entity exceed the revenue or income generated. It represents a negative result in terms of financial performance. Losses can occur in various contexts, such as in business operations, investments, or personal finances. In business, losses can result from factors such as low sales, high expenses, inefficient operations, or unfavorable market conditions. They can impact profitability and financial stability, and businesses often aim to minimize or mitigate losses through strategic planning, cost control, and risk management.
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According to O*NET, what is the projected growth for this career between 2019–2029? faster than avera slower than average average little or no change
Answers
Answer:
Decline
Explanation:
Answer:
The Answer is D Average
Explanation:
calculate the conversion ratio of a convertible bond with a $1,000 par value, a market price of $35, a current yield of 3%, and a conversion price of $25 per share. a) 28.57 b) 25.75 c) 40.00 d) 36.05
Answers
40.00 is the conversion ratio of a convertible bond with a $1,000 par value, a market price of $35, a current yield of 3%, and a conversion price of $25 per share.
What is conversion ratio?Debt and equity are the two primary categories of capital fundraising techniques. Debt must be repaid, however due to tax concerns, it is frequently less expensive to raise capital by issuing debt than by purchasing equity. Equity does not require repayment, which is advantageous in challenging economic conditions or when earnings growth is negative.By using equity to raise money, ownership is given up, and ownership comes with voting rights.Even while debt receives more credit than equity, when earnings growth is robust, share prices rise, which is good for shareholders. Regardless of the level of earnings, debt holders continue to get the same interest rate.Conversion ratio = Par value / conversion price
= $1000 / $25
Conversion ratio = 40.00
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This graph shows the relationship between the amount of two products a
company can make. This is also known as a(n):
Product A
7
3
A
VO
39
Product B
OA. opportunity cost graph.
OB. capital investment model.
OC. projected annual growth plan.
OD. production possibilities curve.
QB
65
Answers
The graph which shows the relationship between the amount of two products a company can make is also known as a production possibilities curve. The Option D is correct.
What is the use of production possibilities curve in economics?The Production Possibilities Curve (PPC) is a model that illustrates the tradeoffs involved in allocating resources between the production of two goods. Scarcity, opportunity cost, efficiency, inefficiency, economic growth, and contractions can all be illustrated using the PPC.
Because the PPF is a curve based on two variables representing resources between two goods, the data can be manipulated to see how scarcity, growth, inefficiency, efficiency, and other factors affect production.
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Prentice company had cash sales of $95,450, credit sales of $84,150, sales returns and allowances of $2,175, and sales discounts of $3,950. prentice’s net sales for this period equal:
Answers
Prentice Company's net sales for this period equal $173,475. The correct option is $173,475.
To calculate Prentice Company's net sales for this period, we need to consider the following terms:
1. Cash sales
2. Credit sales
3. Sales returns and allowances
4. Sales discounts
Step 1: Add cash sales and credit sales to find the total sales.
Total sales = Cash sales + Credit sales
Total sales = $95,450 + $84,150
Total sales = $179,600
Step 2: Add sales returns and allowances and sales discounts to find the total deductions.
Total deductions = Sales returns and allowances + Sales discounts
Total deductions = $2,175 + $3,950
Total deductions = $6,125
Step 3: Subtract the total deductions from the total sales to find the net sales.
Net sales = Total sales - Total deductions
Net sales = $179,600 - $6,125
Net sales = $173,475
The correct option is $173,475.
The complete question is:
Prince Company had cash sales of $95,450, credit sales of $84,150, sales returns and allowances of $2,175, and sales discounts of $3,950. Prince's net sales for this period equal
$175,650.
$177,425.
$173,475.
$95,450.
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Measuring conversions is a good way to calculate your ROI. Which of the following is a commonly calculated conversion? a shares, b sediment, c downloads, d likes
Answers
A commonly calculated conversion from the list is shares. The answer to this question is option a.
What are shares?Shares can be described as a unit that is called mutual funds. The owner of a share is regarded as a shareholder.
Shares can be converted to be money. Therefore it is the best answer to this question.
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b) The company has found a new national chain retailer who will pay more money for more cans of paint, compared to its current small business retailers. This new retailer will increase the company's profits. How can the company make this switch to the new retailer ethically? (2 points)
Answers
Direct-to-consumer (DTC) marketing refers to the practice of a company selling its own goods directly to consumers.
What is direct-to-consumer (DTC)?When a company sells its own goods directly to consumers, this is known as direct-to-consumer (DTC) marketing. Without the assistance of other merchants or distributors, DTC retail involves direct-to-consumer sales of goods.The DTC retail model is explained by:
DTC brands control the quantity of their supply. It is the brand's responsibility to sort, package, and ship the merchandise when customers submit purchases.not being required to use other sources or delivery services for the goods.Direct-to-consumer (DTC) brands are in charge of the fulfilment process and have direct customer communication.Due to the increased accessibility of companies to consumers, the DTC retail model is becoming more and more popular. Direct to consumer (DTC) brands have direct customer interactions that improve connections. Going DTC helps brands understand their customers' demographics and motivations better.DTC streamlines the client experience by removing numerous steps from the purchasing process. In fact, within the last three months, 66% of internet customers made direct purchases from brands.US DTC ecommerce sales are expected to reach $151.2 billion in 2022, up 16.9% from 2021, according to eMarketer's prediction.To Learn more About Direct-to-consumer (DTC) marketing refer To:
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A company sells its products for $80 per unit and has per-unit variable costs of $30 so the contribution margin per unit per unit is $50.
Answers
Answer:
the contribution margin per unit is $50
Explanation:
The computation of the contribution margin per unit is shown below:
Given that
The Selling price per unit is $80
And, the per unit variable cost is $30
Based on the above information
the contribution margin per unit is
= Selling price per unit - variable cost per unit
= $80 - $30
= $50
hence, the contribution margin per unit is $50
Identify a true statement about contingencies to an employment contract, such as satisfactory background and reference checks
Answers
Reference checks that are successful is the next thing that will probably be a condition of a job offer. Option A is Correct.
A contingent job offer enables businesses to hire an applicant without first doing a reference check to confirm their prior employment history and educational background. to find candidates before moving. In order to hire individuals who live too far away to commute, employers may make them a contingent employment offer.
This is a conditional employment offer, which means that it depends on if you successfully complete a few additional hiring process procedures, such as a background check, reference check, and negotiating or accepting your wage plan. Option A is Correct.
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Correct Question:
Which of the following is likely to be a contingency related to a job offer?
A. satisfactory reference checks
B. job salary
C. job benefits
D. job vacation privileges
Cain Company reports net cash provided by operating activities of $35,000. It also reports the following information under “Adjustments to reconcile net income to net cash provided by operating activities” on its statement of cash flows (using the indirect method).
Answers
It can be seen from the solutions given that Cain's net income is $24,000.
Here is the solution:Net income = Net cash provided by operating activities - Adjustments
= $35,000 - $6,000 - $10,000 + $4,000 + $7,000 + $4,000
= $24,000
Therefore, Cain's net income is $24,000.
Here is a breakdown of the adjustments:
To determine cash flow from operations, it is necessary to include the gain on equipment sales in the net income as it is a non-cash entry.
A rise in accounts receivable implies that customers are prolonging payment of their invoices, resulting in decreased cash flow from the company's activities.
The depreciation expense is classified as a non-cash expense, hence it must be included in the calculation of cash from operations by adding it back to the net income.
A decrease in inventory indicates that the company is experiencing faster turnover of its inventory, leading to increased cash flow generated by its operations.
A rise in prepaid expenses denotes that the company is channeling more funds towards prepaid expenditures like insurance and rent, implying a reduced cash inflow from its operational activities.
A decline in the amount of wages that the company owes indicates that it is not promptly compensating its workforce. Consequently, this implies that the company's operational cash flow is reduced.
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Which component of the balanced scorecard evaluates the economic performance of the responsibility centers?
Answers
Financial component of the balanced scorecard evaluates the economic performance of the responsibility centers. Financial components are payment or billing plans for a case. Case components are the advantages or liabilities that a key customer might be eligible for, e.g., personal benefit. Direct investment, portfolio investment, and reserve assets are financial account components that are divided down by sector.
Financial assets such as gold, currency, derivatives, special drawing rights, equities, and bonds are included in the financial account. Your income statement is the first financial statement you prepare. The income statement, as you are probably aware, breaks down all of your company's earnings and economic expenses.
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A forensic accountant is similar to a(n) ______
because they both work to combat accounting fraud
A. international accountant
B. auditor
C. certified public accountant
D. general ledger accountant
SUBMIT
Answers
Answer:
B. auditor
Explanation:
The work of an auditor and that of the forensic accountants are very similar. They both examine financial records and statements of an organization to confirm their accuracy. The auditor and forensic accountant are specialized officers. They have been trained to detect fraudulent reporting in financial statements. After evaluating the books of account, they form an opinion based on their findings.
Which of the given factors is an assumption of perfect competition? Firms sell differentiated goods. There are high barriers to entr;y O There are a large number of producers in the market. O Firms have price setting power.
Answers
The factor that is an assumption of perfect competition is "there are a large number of producers in the market." The other factors listed are not assumptions of perfect competition.(option c)
What do you mean by perfect competition?In a perfectly competitive market, there are many firms producing identical products, leading to no individual firm having price-setting power, low barriers to entry, and no product differentiation.
According to economic theory, perfect rivalry exists when all businesses sell the same goods, market share has no bearing on prices, businesses can enter or quit the market without any obstacles, consumers have perfect or complete information, and businesses are unable to set prices.
A perfect market, formerly known as a market of atoms, is characterized by various idealising conditions, which are together referred to as ideal rivalry, or atomistic competition, in economics, particularly general equilibrium theory.
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Complete question: Which of the given factors is an assumption of perfect competition?
a) Firms sell differentiated goods.
b) There are high barriers to entry
c) There are a large number of producers in the market.
d) Firms have price setting power.
What percentage of sales revenue goes to the cost of sales for the XYZ company? XYZ offers salary plus commission and bonuses for sales personnel who reach their sales quotas. It has eight salespeople, each earning a base salary of $45,000 plus a 2-percent commission on sales. Sales were $3 million, and bonuses totaled $30,000 for the year.
Answers
The sales revenue would be gotten as 15 percent
How to solve for the sales revenueTo find the percentage of sales revenue that goes to the cost of sales for the XYZ company, we need to calculate the total cost of sales, which would include the cost of goods sold as well as any other direct costs associated with generating the sales, such as commissions paid to salespeople.
In this case, the cost of sales would be:
$45,000 (base salary for each salesperson) x 8 (number of salespeople) = $360,000 (total base salary for sales team)
$3,000,000 (total sales) x 2% (commission rate) = $60,000 (total commission paid to sales team)
$360,000 + $60,000 + $30,000 (bonuses) = $450,000 (total cost of sales)
To find the percentage of sales revenue that goes to the cost of sales, we divide the total cost of sales by the total sales revenue and multiply by 100:
$450,000 / $3,000,000 x 100 = 15%
So, the percentage of sales revenue that goes to the cost of sales for XYZ company is 15%.
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Include a brief summary of the technical and soft skills required for the role;
Identify and describe three soft skills in which the interviewee demonstrates competence. Identify the skill, describe the associated behaviour (e.g., language choice, body language, other visual cues), and provide a short analysis of why these soft skills are particularly relevant to this role and to opportunities for advancement at Aquam;
Identify and describe two unwritten rules that the candidate breaks and why;
Include at least one personal observation and lesson learned that you can apply to your own future workplace experiences.
Scenario
Aquam is a fictional Canadian company with offices in Canada, Europe, China and the Middle East. The company is hiring a project manager, a senior role in the organization, who will directly lead large projects and supervise and mentor diverse entry level engineers. The successful candidate will also coordinate projects with staff across multiple departments, perform engineering analyses and design work, develop reports and presentations, meet financial performance goals on assigned projects, assist with market development locally and internationally, and handle multinational client relations.
James Brooke is an experienced candidate, who believes he is the right person for the role
Answers
Technical and Soft Skills required for the role of a project manager at Aquam are as follows:Technical skills: Expertise in project management methodology, a complete understanding of the project life cycle, excellent communication skills, and the ability to lead large groups of people. They also require solid decision-making abilities, resource allocation and budget management skills, and a strong understanding of project scheduling software.
A project manager must possess a strategic outlook and an analytical ability to monitor the organization's project goals and benchmarks. Project managers must inspire the team to attain objectives, maintain positive working relationships, and meet deadlines.Conflict resolution can assist in maintaining a positive working environment, decreasing stress, and improving the work environment.Two Unwritten rules that the candidate breaks and why:1. Inappropriate Dressing: James arrived at the interview with casual clothes, a T-shirt, and jeans. The dress code for this position is business casual. Dressing inappropriately at work can convey a lack of seriousness or professionalism, and it can distract other employees from their duties.2. Improper use of Mobile: James glanced at his cell phone several times during the interview, which could be considered discourteous. While in the interview process, candidates must remain attentive to the interviewer and ask questions and express interest in the position, indicating a strong desire for the job. Using the phone during the interview displays a lack of seriousness and interest in the position.Personal observation and lesson learned that can apply to future workplace experiences:James' punctuality impressed me the most, and his time management skills are an example that can be implemented in my future workplace experiences.
Planning and preparation in advance can help to finish the task on time. Being disciplined in time management can also assist in reducing stress levels and developing a balance between work and personal life.
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If a cosmetics company is selling eye shadow priced at $11.99 rather than $12, it is using(psychological pricing).
Answers
Answer:
Yes it is
Explanation:
Psychological pricing can also be described as setting prices lower than a whole number — for example, $3.99 is perceived as “cheaper” than $4. The idea is that customers will perceive the slightly lower price as a deal and be motivated to make the purchase.