Economics is the detailed study under the social studies that entail an individual or the market about the production, distribution, supply, consumption, and exchange of activities. There are micro and macroeconomics.
1. The property in a mixed market economy likely is Private.
2. Most of the property in command economies is owned by Government.
3. The citizens of a command economy are likely to own less property than citizens of a mixed-market economy.
A mixed market economy is a type of economy having the combination of both the free market and a commanded economy. Generally, the markets are considered to be under a mixed market economy only, this is because there is no perfect capitalist market or economy in the world.
A commanded economy is referred to as the economy that usually includes the autonomy of the demand and supply. The main power of the economy and the subtle of the market is under the government policies and government salience.
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Answer:
1.privet and public
2.governments
3.less
Explanation:
In year 2, Reynolds changes its inventory method from FIFO to the weighted-average method. If the weighted-average method would have been used in year 1, cost of goods sold would be $10,000 higher. Reynolds has an effective tax rate of 40%. What is the after-tax effect on retained earnings for year 1 for the change in accounting method
Answer:
Retained earnings for year 1 would be lower by $6000
Explanation:
A change in inventory valuation method resulted in higher cost of goods sold for the previous year.
This means had the new method of inventory valuation i.e weighted average been followed, the gross profit would have been lower by $10,000.
Had gross profits been lower by $10,000 , it would've led to net income being lower by $10,000. After deduction of 40% tax rate on such income, the after tax income would've been $6000 lower.
This further means the balance of retained earnings would've been reduced by $6000.
Gilmore, Inc., just paid a dividend of $3.20 per share on its stock. The dividends are expected to grow at a constant rate of 6.25 percent per year, indefinitely. Assume investors require a return of 12 percent on this stock. What is the current price?
Answer:
The current price is $55.65 as computed below.
Explanation:
The current price of the stock can be computed using the below formula:
Price=dividend/(rate of return-growth rate)
price=$3.20/(0.12-0.0625)
Price=$55.65
The stock of Jerome can be priced at $55.65 based on the fact that it offers return of 12% and the return is expected to grow at 6.25% in perpetuity.
This return shows that the actual return on shares is dividend dividend yield as well as gains yield.Dividend is the return on the share based on dividends receivable from the share, while gains yield stem from share price appreciation
The current price of the stock is $55.65 per share.
Explanation:To calculate the current price of the stock, we can use the Gordon Growth Model formula. The formula is:
Current Price = Dividend / (Required Return - Growth Rate)
In this case, the dividend is $3.20 per share and the growth rate is 6.25%. The required return is 12%. Plugging in these values into the formula, we get:
Current Price = $3.20 / (0.12 - 0.0625) = $3.20 / 0.0575 = $55.65 per share
Therefore, the current price of the stock is $55.65 per share.
Effective leaders have a strong need for socialized power, meaning that they want power as a means to accomplish organizational objectives and similar good deeds. This behavior of leaders refers to
Answer:
leadership motivation.
Explanation:
All leaders feel the need for social recognition and they view it as a means to accomplishing their objectives or the organization's objectives. A leader doesn't exist if he/she doesn't have anyone that follows them.
Effective leaders generally have some distinct attributes like integrity, drive and emotional intelligence. There are several types of leadership styles depending on how they affect their subordinates (employees, followers):
transformational leaders empower their subordinatescharismatic leaders make them more dependent servant leaders revers the roles and emphasize on the need of the leader following his/her subordinatesOne of the core problems that created the financial meltdown of 2008 was that large loans were made to individuals who could not repay them, and the finance companies purchased these bad debts without realizing how poor the prospects of repayment were. Which of the following decision-making errors was made by the lenders and borrowers?
A) hindsight bias
B) availability bias
C) overconfidence bias
D) confirmation bias
E) anchoring bias
Answer:
d. confirmation bias
Explanation:
Confirmation bias -
It is a type of cognitive bias , where some prior data or information is used to confirm some belief or information , is referred to as confirmation bias .
In simple words ,
It is a type of information which helps to confirm some recent thoughts or beliefs .
Hence , from the given scenario of the question ,
The correct answer is d. confirmation bias .
Answer:
The correct answer is letter "D": confirmation bias.
Explanation:
Confirmation bias is a cognitive process in which individuals tend to favor input to confirm certain beliefs or biases they already had. The term relates to behavioral finance at the time of recognizing subjective and poor decision-making.
This happens when investors are too optimistic about certain instruments, so they look for information that can ensure that their position on the instrument is correct and dismiss any input that might indicate the opposite, even if it is true.
Suppose the nation of Sugarland consists of 50,000 households, 10 of whom are sugar producers. Arguing that the sugar industry is vital to the national economy, sugar producers propose an import tariff. The loss in consumer surplus due to the tariff will be $100,000 per year. The total gain in producer surplus will be $25,000 per year.What is the gross cost per household per year of the proposed policy? Round your answer to the nearest dollar.
Answer:
$2 per household per year
Explanation:
Data provided in the question
Number of households who are sugar producers = 50,000
Loss in consumer surplus = $100,000
Total gain in producer surplus = $25,000
Now considering the above information, the gross cost per household per year is
= Loss in consumer surplus ÷ Number of households who are sugar producers
= $100,000 ÷ 50,000 households
= $2 per household per year
Paul is an employee at a marketing firm. He is someone who prefers to be instructed by his seniors and avoids taking major responsibilities. He rarely uses his own judgment or creativity while doing a task in fear of putting things at risk. Paul's conduct in the workplace is consistent with the assumptions of _____.
Answer:
The options for this question are the following:
A. expectancy theory
B. Theory Y
C. equity theory
D. Theory X
The correct answer is D. Theory X.
Explanation:
In theory X, managers and company administrators believe that workers only perform well under pressure or threats. Only in this way, according to Theory X, is it possible to improve labor growth and production. In the second proposal, which corresponds to Theory Y, company managers think that officials want and also need to work. These proposals corresponding to the theories "X" and "Y" were presented in the book The Human Side of Organizations (1960), by McGregor. This book was, in a way, a manifesto of the author to change and improve the treatment towards employees and modify the way in which personnel are administered. With the publication of this work began a trend of recognition and assessment of the employee in a humane and comprehensive way.
A customer opens a short margin account by selling short 600 shares of XYZ stock at $80 per share and deposits the required margin. If the stock declines in value by 25%, the customer's equity in the account will:
Answer:
It will increase by 50%
Explanation:
Equity is given as: credit - short market value.
Find attached below table of solution
If a company created a product marketing campaign which exaggerated the actual benefits and features of a product and misrepresented the quality of the item, what could be the market’s reaction?
Answer: Loss of customers
Explanation: First of all, this would be an unethical thing to do, because the product will never meet the standard which it has been advertised to be.
This would therefore lead to a loss of customers due to the fact that their trust has been violated. They will also definitely feel cheated and exploited.
In the end, the loss of customers will lead to loss of profit for the company.
Consider the information about the economy of Pakistan. Note that the currency of Pakistan is the rupee. The government purchases: 2.60 trillions of rupees. Individuals consume: 10.60 trillions of rupees. Individuals save: 5.04 trillions of rupees. Businesses invest: 1.50 trillions of rupees. Foreigners spend: 0.70 trillions of rupees to purchase Pakistani firms. Pakistan imports: 2.69 trillions of rupees. Pakistan exports: 1.40 trillions of rupees. Calculate Pakistan's GDP. Assume that the values are all current and no conversions need to be made. Give your answer in terms of trillions of rupees, and round to two decimals.
Answer:
GDP of Pakistan is 13.41 trillion of Rupees
Explanation:
GDP = C + I + G + Net Exports
GDP = 10.6 + 1.5 + 2.6 + (1.4 Exports - 2.69 Imports) =
Where C stands for consumption, I for investment by the businesses, G is the government spending or purchases, Net Exports is the difference between exports X and imports M.
Now:
G-Government spending or Govt. Purchases are Rs 2.60 trillions
I-Investment by the businesses are Rs 1.50 trillions
C-Consumption was Rs 10.6 trillions
Net Exports-(Exports X - Imports M) was the difference of exports Rs 1.4 trillions and imports of Rs 2.69 trillions
By putting the values we have:
GDP= 10.6 + 1.5 + 2.6 + (1.4 Exports - 2.69 Imports)= 13.41 trillion of Rupees
The public debt surpassed GDP during the 1940s 1950s 1960s 1970s 1980s 1990s early 2000s then fell steadily, reaching its lowest point in the . From that decade on, the public debt as a percentage of GDP has increased consistently, except for a decline in the late . By 2010, the debt had risen to ________.
Answer:
The public debt as a percentage of GDP in the United States, reached its lowest point in recent decades, in 2001, when it represented 54.9% of GDP.
After that year, this indicator began to increase, at first slowly, and from 2007 on very rapidly, propelled in part by the financial crisis. In 2010, the public debt as percentage of GDP was 89.3%.
Consider two points on the production possibilities frontier (PPF): point A, at which there are 50 oranges and 100 apricots, and point B, at which there are 51 oranges and 98 apricots. If the economy is currently at point B, the opportunity cost of moving to point A is:_______.a. 2 apricots.
b. 1 orange.
c. 98 apricots.
d. 3 oranges.
High self-monitoring consumers probably prefer ads that contain _____. text focusing on the benefits of the product or service visually provocative themes scenes of social acceptance appeals to nationalism
Answer:
visually provocative themes.
Explanation:
High self monitors are like chameleons that follow social cues on how to behave. They change the way they present themselves in different social setting to fit the occasion. For example if a highly self monitor person is at a party and is having a bad day, they will modify how they present themselves by expressing a happy front.
Because of this adaptability to social environments they go into careers like public relations, sales, diplomacy, and law.
They may buy a product based on how it looks even though it's performance is not that good. For example buying a fancy phone.
They are more attracted by the image of the product.
Final answer:
High self-monitoring consumers probably prefer ads that contain scenes of social acceptance .
Explanation:
High self-monitoring consumers probably prefer ads that contain scenes of social acceptance. These individuals are more attuned to their social environments and are more likely to be influenced by advertisements that depict or suggest social approval or inclusion.
Ads that feature visually provocative themes or appeals to nationalism may attract attention, but scenes promising or illustrating social acceptance directly appeal to high self-monitoring consumers’ sensitivity to how they are perceived by others. This aligns with advertising strategies that focus on creating positive associations with products, such as using appealing music, attractive models, and scenarios depicting happy people using a product to evoke a sense of belonging and acceptance.
Danny "Dimes" Donahue is a neighborhood’s 9-year-old entrepreneur. His most recent venture is selling homemade brownies that he bakes himself. At a price of $2.75 each, he sells 250. At a price of $2.25 each, he sells 300. A. What is the elasticity of demand?
B. Is demand elastic or inelastic over this price range?
C. If demand had the same elasticity for a price decline from $2.25 to $1.75 as it does for the decline from $2.75 to $2.25, would cutting the price from $2.25 to $1.75 increase or decrease Danny's total revenue?
Answer:
A) PED = 1.1
B) demand is elastic
C) Danny's total revenue would decrease
Explanation:
we can calculate the price elasticity of demand using the formula:
PED = % change in quantity demanded / % change in price = [(300 - 250) / 250] / [(2.25 - 2.75) / 2.75] = (50 / 250) / (-0.5 / 2.75) = 0.2 / 0.18 = 1.1
since PED = 1.1, the demand is elastic
if the PED is the same when the price decreases from $2.25 to $1.75, total revenue will :
when price = $2.25, total revenue = $2.25 x 300 = $675
when price = $1.75, total revenue = $1.75 x 373 = $652.75
*a 22.22% decrease in the price will cause a 24.44% increase (= 22.22% x 1.1) in the quantity demanded = 300 units + (300 x 24.44%) = 373.3 ≈ 373 units
A local pizza parlor located on campus offers a student rate for its pizza lunch special. This is a form of __________. a. predatory pricing and is legal. b. predatory pricing and is illegal. c. bait-and-switch pricing and is legal. d. price discrimination and is illegal. e. price discrimination and is legal.
Answer:
E. Price discrimination and is legal
Explanation:
Price discrimination is a situation whereby an organization decides to sell its commodity at different prices to different customers. Here, the pizza parlour offers student rate for students that's different from the rate offered to other customers that are not students. It is the sales of a particular type of product to different buyers or consumers at different prices. It is legal. It only becomes otherwise (illegal) if it is done on the basis of racial discrimination, religious discrimination and so on.
Answer:
The correct answer is e. price discrimination and is legal.
Explanation:
Price discrimination, also known as price differentiation, occurs in situations where a company sells the same product at different prices, either to the same consumer or to different ones. The study of this strategy occurs naturally in cases of monopolies because they seek to sell additional units to consumers without reducing the price of units that have already been sold in a way that allows them to maximize their profits. There are examples of price discrimination in transport and storage companies. To optimize price discrimination, companies will have to control and prevent resale, and they will also have to differentiate consumers depending on their willingness to pay. Although preventing resale is often not complicated, differentiating consumers is a more complex and expensive process.
Riverbend Inc. received a $250,000 dividend from stock it held in Hobble Corporation. Riverbend's taxable income is $2,460,000 before deducting the dividends received deduction (DRD), a $68,500 NOL carryover, and a $172,000 charitable contribution. Use Exhibit 16-6. (Round your tax rates to 1 decimal place. Leave no answer blank. Enter zero if applicable.)
a. What is Riverbend’s deductible DRD assuming it owns 10 percent of Hobble Corporation?
b. Assuming the facts in part (a), what is Riverbend’s effective tax rate on the dividend?
c. What is Riverbend’s DRD assuming it owns 51 percent of Hobble Corporation?
d. Assuming the facts in part (c), what is Riverbend’s marginal tax rate on the dividend?
e. What is Riverbend’s DRD assuming it owns 87 percent of Hobble Corporation (and is part of the same affiliated group)?
f. Assuming the facts in part (e), what is Riverbend’s marginal tax rate on the dividend?
Answer:
a. What is Riverbend’s deductible DRD assuming it owns 10 percent of Hobble Corporation?
$250,000 x 70% = $175,000b. Assuming the facts in part (a), what is Riverbend’s effective tax rate on the dividend?
$15,750 / $250,000 = 6.3%current corporate tax rate = 21%, ($250,000 - $175,000) x 21% = $15,750
c. What is Riverbend’s DRD assuming it owns 51 percent of Hobble Corporation?
$250,000 x 80% = $200,000d. Assuming the facts in part (c), what is Riverbend’s marginal tax rate on the dividend?
21%e. What is Riverbend’s DRD assuming it owns 87 percent of Hobble Corporation (and is part of the same affiliated group)?
$250,000f. Assuming the facts in part (e), what is Riverbend’s marginal tax rate on the dividend?
0%Explanation:
the dividends received deduction:
less than 20% stake, 70% deductionstake between 20-80%, 80% deductionmore than 80% stake, 100% deductionRiverbend Inc.'s deductible Dividends Received Deduction (DRD) varies depending on their percentage of ownership in Hobble Corporation. It ranges from 50% to 100% of the dividends. The effective tax rate on the dividends and the marginal tax rate also change accordingly, with a maximum permissible deduction effectively making the marginal tax rate 0%.
Explanation:This question relates to corporate tax and the dividends received deduction (DRD). The DRD is a tax deduction which corporations can apply, depending on the percentage of ownership they have in the corporation from which they received dividends.
a. The deductible DRD for Riverbend Inc., owning 10 percent of Hobble Corporation, is 50% of the $250,000 dividends, which equals to $125,000.
b. The effective tax rate on dividends for Riverbend Inc., under the above conditions, is determined by the rate at which the company is taxed after considering the DRD. Specifically, it is the remaining 50% of the dividends that would be included in the taxable income.
c. If Riverbend Inc. owns 51 percent of Hobble Corporation, the deductible DRD then increases to 65% of the received dividends which results in a deductible of $162,500.
d. The marginal tax rate depends on the company's income tax bracket and varies based on the amount of taxable income.
e. If Riverbend Inc. owns 87 percent and is part of the same affiliated group, then they could potentially deduct 100% of the dividends received, $250,000, based on current tax regulations.
f. As per the previous point, given 100% of the dividends can be deducted, the marginal tax rate on the dividend in such a case becomes 0%.
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The debits to work in process—roasting department for morning brew coffee company for august 2016, together with information concerning production, are as follows: work in process, august 1, 700 pounds, 20% completed $ 3,479* *direct materials (700 x $4.70) $3,290 conversion (700 x 20% x $1.35) 189 $3,479 coffee beans added during august, 14,300 pounds 65,780 conversion costs during august 21,942 work in process, august 31, 400 pounds, 42% completed ? goods finished during august, 14,600 pounds ?
Answer:
The cost of production report for Morning Brew Coffee Company for August 2016 is attached.
Explanation:
Amanda goes to the toy store to buy 1 ball and 3 different board games. If the toy store is stocked with 3 types of balls and 6 types of board games, how many different selections of the 4 items can Amanda make?
Answer:
E) 60
Explanation:
total possible combinations for the board games = N! / K!(N-K)!
N = total number of items K = size of the subgroup6! / [3! x (6-3)! ]
6! = 6 x 5 x 4 x 3 x 2 x 1 = 720
3! = 3 x 2 x 1 = 6
6! / [3! x (6-3)! ] = 720 / (6 x 6) = 720 / 36 = 20
total possible combinations for the ball = 3! / 1!2! = 6 / 2 = 3
total combinations for both 1 ball and 3 games = 20 x 3 = 60
The editorial board of Gamers' Page, a magazine that primarily caters to people who are enthusiastic about sports and gaming, targets people who enjoy games. This type of market segmentation used by the editorial board of Gamers' Page is an example of ________.A) usage-rate segmentation
B) geographic segmentation
C) psychographic segmentation
D) benefit segmentation
Pare, Inc., purchased 10% of Tot Co.'s 100,000 outstanding shares of common stock on January 2, 20X1, for $50,000. On December 31, 20X1, Pare purchased an additional 20,000 shares of Tot for $150,000. There was no goodwill as a result of either acquisition, and Tot had not issued any additional stock during 20X1. Tot reported earnings of $300,000 for 20X1. What amount should Pare report in its December 31, 20X1, balance sheet as investment in Tot?A. $170,000
B. $200,000
C. $230,000
D. $290,000
Answer:
C) $230,000
Explanation:
Since Pare has significant influence over Tot (it owns 30% of its stock), it must record the transactions using the equity method. Pare purchased the extra 20% of stocks on December 31, so it will only report dividends for the original 10%.
total ownership:
100,000 stocks x 10% = 10,000 stocks at $50,000
20,000 stocks at $150,000
total 30,000 stocks (30%) at $200,000
earning's share (using equity method):
$300,000 x 10% = $30,000
total investment account = $200,000 + $30,000 = $230,000
Quality that measures usefulness vs. price paid is which definition of quality? A. Conformance to specifications B. Fitness for use C. Value for price paid D. Support services E. Psychological
Answer:
Option C. Value for price paid
Explanation:
The quality of goods are measured with the usefulness of the goods to the consumer and how much he is willing to pay for it and the product is determined by the state of how much it is being useful, profitable, or beneficial to the consumer. Consumers pay higher amount for the product which has the higher utility for the consumer and it also shows the quality of the specific product to the consumer. The main determinants of the product's quality are its price and its utility. Value of price paid is determined by the utility or usefulness of the product for each unit of money paid to purchase it.
The governor wants to levy a $1 excise tax on a product but wants to minimize the deadweight loss. The deadweight loss will be LEAST when the demand curve is _____ and the supply curve is _____.
Answer:
D) inelastic, inelastic
Explanation:
A price ceiling set below the equilibrium price will always cause an increase in the quantity demanded and a decrease in the quantity supplied, resulting in both a shortage and a deadweight loss.
When the demand and the supply curves are inelastic, their slope is greater, which reduces the potential loss. The deadweight loss is the area in between the supply and demand curve and left of the equilibrium price.
Javier spends all his income on peanuts and chewing gum. The last dollar spent on peanuts yeilds 14 utils and the last dollar spent on chewing gum yields 6 utils. To increase total utility, Javier should spend less on peanuts and more on chewing gum?
Answer:
False
Explanation:
Javier's utils per dollar of peanuts = 14 utils per $1 spent
Javier's utils per dollar of chewing gum = 6 utils per $1 spent
Since the utils per dollar that Javier obtains from consuming peanuts are higher than those from consuming chewing gum, if he wants to increase his total utility, he should purchase more peanuts.
The covenants and other terms of the agreement between the issuer of bonds and the lender are set forth in the registered bond. bond debenture. bond indenture. bond coupon.
Answer:
The correct answer is Bond indenture.
Explanation:
The bond indenture is a contract through which a person called a guarantor is obliged to respond for the obligation of the principal debtor, it is an accessory obligation under which one or more persons respond to an obligation of another, committing to the creditor to comply with it in whole or in part, if the principal debtor does not comply.
The bond is held for the purpose of guaranteeing a third party obligation, but in which the creditor can only charge the guarantor when the principal debtor of the obligation does not comply.
When posting from the sales journal to the accounts receivable subsidiary ledger, write the letter "S" plus the page number on which the transaction was recorded in the Posting Reference column of the subsidiary ledger account.
Answer:
The correct answer is True.
Explanation:
The general ledger is one of the most basic used in day-to-day accounting. In this, all the economic operations that are carried out in a business are registered in a chronological way for its subsequent transfer to the major. When registering an accounting entry in the daily book it is necessary to understand what we are going to register and always remember that the sum of all debits must be equal to the sum of all credits to comply with the principle of double entry. This means that every time we debit an account, we must also give a credit for the same value to the other affected account.
You can be jailed up to six months and fined up to $1,000 if you _________________. A. are convicted of being a habitual truant from school B. abandon or dump an animal on the road C. drive faster than the posted speed limit
Answer:
Option B Dumping or Abandoning an animal on a highway.
Explanation:
The fine imposed on dumping or abandoning an animal on a highway unintentionally (negligent) will be $1,000 whereas a fine of $1,000 and jail up to six months will be for the person who intentionally dumbed or abandoned an animal on a highway. The durantion of jail punishment is subjected to the judgement of judge.
Depending on the jurisdiction, penalties like jail time up to six months and fines up to $1,000 can be applicable for offenses such as habitual truancy, animal abandonment on roads, and excessive speeding.
Explanation:The penalties mentioned in your question, being jailed for up to six months and fined up to $1,000, can vary depending on jurisdiction and nature of the crime. However, in many cases, such punishments can be applied to individuals who are convicted of being habitual truants from school, abandoning or dumping an animal on the road, or driving faster than the posted speed limit.
Legal Consequences for Truancy, Animal Dumping, and SpeedingA, B, and C in your question reflect varied illegal actions that could follow serious punishments.
A habitual truant from school can face such penalties in some locations if truancy laws are enforced.Abandoning or dumping an animal on the road can also lead to fines and jail time under animal cruelty laws. Similarly, extreme cases of speeding or reckless driving can draw significant fines and potentially even jail time.Learn more about Penalties for Crimes here:https://brainly.com/question/32228967
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Kevin is a top-level manager at an advertising firm. He has many years of varied experience and he spends most of his time making strategic decisions about how to use the company's resources. On which management function does he spend most of his time?
Answer:
Kevin spends most of his time on planning
Explanation:
Planning is considering the activities that an organization needs to undertake to achieve its objectives as well as efficient and effective utilization of resources in carrying out those activities.
Efficiency and effectiveness are very important because the organization is in business in order to maximize the wealth of its founders, which can only be achieved by making sure that organization avoids wastefulness while also deploying the least possible resources in a given circumstance
Which of the following DOES NOT increase profit by improving quality? A. increased productivity B. higher warranty costs C. flexible pricing D. improved reputation
Answer:
B. higher warranty costs
Explanation:
The increase in the profit by improving the quality does not increase or gets impacted by the higher warranty costs and thus is a not the reasons for the increase of the productivity and the higher and content of the quality and thereby an increase of the costs adds to the warranty and does not guarantee the improved quality.Higher warranty costs do not increase profits by improving quality; they may actually signify underlying quality issues and lead to increased costs. In a perfectly competitive market, firms cannot increase prices for higher profit without losing customers, as prices are determined by the market.
Among the choices provided, higher warranty costs do not increase profit by improving quality. On the contrary, higher warranty costs can be a burden for a company. By improving quality, companies generally aim to enhance productivity, establish flexible pricing strategies, and foster an improved reputation, which are all conducive to boosting profitability. However, high warranty costs indicate that there might be quality issues leading to more returns and repairs — ultimately increasing expenses and reducing profit margins.
Annie enjoys restoring old homes. She treasures the beauty and attention to detail that she finds in old buildings. To help her, she hires artisans she works with regularly who share her value of: a. history. b. profit. c. self-sacrifice. d. customer satisfaction.
Answer:
A. History.
Explanation:
As Annie enjoys restoring old homes. She treasures the beauty and attention to detail that she finds in old buildings. To help her, she hires artisans she works with regularly who share her value of history. Annie finds it interesting to restore the genuine beauty of the old buildings, she want to make them new again by restoring their old form, design and style. She undoubtedly, should work with those person who share the same taste and love for history. It will become very easy for her to work in more efficient and effective way. She can also share her ideas freely and openly with a person having the same likeness of making old buildings new ones.
True or False: Keeping his maximum willingness to pay for an apartment in mind, Jake will not buy the apartment because it would be worth less to him than its market price of $300,000.
Answer:
TRUE
Explanation:
True it is that: Keeping his maximum willingness to pay for an apartment in mind, Jake will not buy the apartment because it would be worth less to him than its market price of $300,000.
Generally consumers respond to value as a matter of fact consumers can pay more than the list price if they think it will give them higher value than the market price.
Consumers don't purchase products primarily for their functions, hence Jake will not pay for the house because of his maximum willingness to pay.
A customer buys a product for the perceived benefit he will gain from it. This perceived benefit, in addition to his opinion of the product, are what create customer perceived value.
Who is the highest ranked person responsible for making sure an appealing, high-quality [product] is produced on time and within budget in film and theatre?
Answer:
Producer
Explanation:
The producer of a movie, theater play, sitcom, etc., is the person in charge of securing everything that is needed in order for the movie, play, etc., to be properly carried out. That means he/she is responsible for gathering the necessary funds and paying salaries and all other expenses. The producer is also responsible for dividing the money generated by the movie, play, etc., and distributing it to the investors.