Answer:
$1,300,000
Explanation:
The costs transferred from a prior process to a subsequent process are a.treated as another type of materials cost for the receiving department. b.referred to as transferred-in costs (for the receiving department). c.referred to as the cost of goods transferred out (for the transferring department). d.All of these. e.None of these.
Answer:
D. All of the above
Explanation:
The cost transferred from a previous process to a current process is known as transferred in cost. It is incured when cost in one department is move to another. It is treated as another type of material cost for the receiving department and it is the cost of goods transferred out of the transferring department. It is the cost of one department moved to another.
Sidney took a $850 cash advance by using checks linked to her credit card account. The bank charges a 3 percent cash advance fee on the amount borrowed and offers no grace period on cash advances. Sidney paid the balance in full when the bill arrived What was the cash advance fee? (Round your answer to 2 decimal places What was the interest for one month at an 12 percent APR? (Round your answer to 2 decimal What was the total amount she paid?
Answer: $884
Explanation:
To calculate the cash advance fee paid. We have:
3% cash advance fee multiplied by the amount borrowed.
0.03 x 850 = $25.50.
To calculate the interest for one month at a 12 percent APR.
850 x 0.12 x 1/12
= $8.50.
To calculate the total amount she paid:
850 + 25.50 + 8.50
= $884
Porsche AG uses the label "Top Guns" to describe one segment of its customers, namely those who care about power and control and who expect to be noticed. Such a profile would be based on which type of segmentation?
A) demographic
B) occupational
C) psychographic
D) behavioral
E) gender
Answer:
C) psychographic
Explanation:
Psychographic segmentation is a type of segmentation where customers are divided into a group based on their psychological characteristics. Such characteristics include beliefs and motivations.
Demographic segmentation is when customers are placed in a group based on their sex, religion, age or occupation.
I hope my answer helps you
An economy produces 10X, 20Y, and 30Z in a year. Base-year prices for these goods are $1, $2, and $3, respectively. Current-year prices for these goods are $2, $3, and $4, respectively. What is Real GDP
Answer:
$140
Explanation:
The computation of the real GDP is shown below:
For computing the real GDP first we have to determine the inflation rate
Inflation rate formula is
= (Current year price - base year price) ÷ (Base year price)
For Product X
= ($2 - $1) ÷ (1) = 1
For Product Y
= ($3 - $2) ÷ (2) = 0.5
For Product Z
= ($4 - $3) ÷ (3) = 0.33
Now the real GDP is
= (Base year price of X)÷ (Inflation rate) + (Base year price of Y)÷ (Inflation rate) + (Base year price of Z)÷ (Inflation rate)
= (10) ÷ (1) + (20) ÷ (0.5) + (30) ÷ (0.3333)
= 10 + 40 + 90
= $140
Therefore, the Real GDP of the economy, using base-year prices, is [tex]\boxed{\$140}.[/tex]
The correct method to calculate Real GDP is to use the base-year prices to value the current year's production of goods and services.
This is because Real GDP is a measure of the economy's output adjusted for price changes, allowing for a comparison of the economy's production across different years.
Given the production quantities and prices, we calculate Real GDP as follows:
For good X, the economy produces 10X units. Using the base-year price of $1 for X, the value of X's production is [tex]\(10X \times \$1 = \$10X\).[/tex]
For good Y, the economy produces 20Y units. Using the base-year price of $2 for Y, the value of Y's production is [tex]\(20Y \times \$2 = \$40Y\).[/tex]
For good Z, the economy produces 30Z units. Using the base-year price of $3 for Z, the value of Z's production is [tex]\(30Z \times \$3 = \$90Z\).[/tex]
Now, we sum up these values to get the Real GDP:
[tex]\[ \text{Real GDP} = \$10X + \$40Y + \$90Z = \$140 \][/tex]
EmployIT is a newly established recruitment company. It does not have adequate funds to rent out an office space for its employees so all the employees work from home. The employees communicate with each other through email and a third party video chat and voice call application. This scenario illustrates that the employees are part of a(n) _____.
Answer:
This scenario illustrates that the employees are part of a virtual team
Explanation:
Virtual organizations are firms set up to address the issues of space and time shifts.
Space shift is the traditional arrangement where employees are meant to be located in one single location in order to effectively function together as teams.
Time shift is the timing barrier where employees are expected to liaise with one another at the same time.
Virtual organization is a break from the norm by ensuring individuals that are geographically dispersed and operating in different time zones function together as a team with the aid of advancement in technology.
The employees of EmployIT are part of a 'virtual team', which consists of members working from different locations and using technology to communicate.
The scenario presented indicates that the employees of EmployIT are part of a virtual team. A virtual team is a group of individuals who work together from different geographic locations and rely on communication technology such as email, video conferencing, and online collaboration platforms to coordinate their work. The use of programs like Slack or Microsoft Teams facilitates efficient communication among remote team members.
Technology advancements have enabled virtual teams to operate effectively, offering the advantage of drawing from a diverse talent pool without being limited to one geographic area. This can help a business operate around the clock by employing staff in various time zones. While this arrangement offers significant benefits, it presents unique management challenges, such as ensuring robust communication and collaboration among team members who may never meet in person.
Two countries, A and B, both are currently in recession. The values of the MPS for A and B are 0.1 and 0.5 respectively. The governments of both countries are planning to boost income through an expansionary policy of a tax cut of $1 billion.
Answer:
Explanation:
The policy of tax cut will be less effective in country B than in country A since the value of the tax multiplier is lower in country B.
The multiplier effect refers to the increase in final income arising from any new injections.
Calculating the Multiplier Effect for a simple economy
k = 1/MPS
A = 1/0.1 =10
B= 1/.5=2
Htc started as an original equipment manufacturing firm (oem) for brand-name mobile device companies. later, it started offering a line up of innovative and high-performance smartphones by acquiring one & co., a san francisco-based design firm. this strategic move of htc is known as___________.
Answer:
Forward vertical integration
Explanation:
Forward vertical integration is a strategy that allows companies to get more control of their business value chain and be more competitive by including the distribution of the products to be able to reach the customers directly. According to this, the answer is that the strategic move of HTC is known as forward vertical integration as HTC acquired one & co. to be able to offer a line of smartphones which was a move to distribute the cellphones they manufactured directly to the customers.
Which of the following is true of advertising? Group of answer choices It can change consumers' deeply rooted values and attitudes. It is of less value for new entrants in the market. It ensures constant sales and market share improvements. It influences attitudes, beliefs, and ultimately, consumers' purchases.
Advertising can influence attitudes, beliefs, and consumers' purchases. Advertising in monopolistic competition can affect the demand curve and lead to increased sales and profits.
Explanation:Advertising influences attitudes, beliefs, and ultimately, consumers' purchases.
In the framework of monopolistic competition, advertising can either cause a firm's perceived demand curve to become more inelastic or cause demand for the firm's product to increase.
A successful advertising campaign may allow a firm to sell a greater quantity or charge a higher price, or both, resulting in increased profits.
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The sf/$ 180-day forward exchange rate is sf1.30/$ and the 180 day forward premium is 8 percent. what is the outright spot exchange rate?
Final answer:
To calculate the outright spot exchange rate with a forward rate of sf1.30/$ and a forward premium of 8%, the formula Spot Rate = Forward Rate / (1 + Forward Premium) is used. The calculation yields a spot rate of approximately sf1.2037/$.
Explanation:
The question asks to calculate the outright spot exchange rate, given that the forward exchange rate is sf1.30/$ and the forward premium is 8 percent. The forward premium indicates how much higher (or lower) the forward rate is compared to the spot rate. It is calculated as:
Forward Premium (%) = [(Forward Rate - Spot Rate) / Spot Rate] x 100%
We can rearrange this formula to solve for the Spot Rate:
Spot Rate = Forward Rate / (1 + Forward Premium)
Given the forward rate (sf1.30/$) and the forward premium (8% or 0.08), we calculate the spot rate as follows:
Spot Rate = sf1.30/$ / (1 + 0.08)
Spot Rate = sf1.30/$ / 1.08
Spot Rate = sf1.2037/$ (rounded to four decimal places)
Therefore, the outright spot exchange rate is approximately sf1.2037/$.
Final answer:
To find the outright spot exchange rate, use the formula Forward Exchange Rate / (1 + Forward Premium) and substitute the given values.
Explanation:
The outright spot exchange rate refers to the current exchange rate between two currencies in the foreign exchange market, where currencies are traded for immediate delivery or settlement, typically within two business days.
The outright spot exchange rate can be calculated using the formula:
Outright Spot Exchange Rate = Forward Exchange Rate / (1 + Forward Premium)
Substitute the given values: Forward Exchange Rate = 1.30, Forward Premium = 0.08. Calculate: 1.30 / (1 + 0.08) = 1.30 / 1.08 = 1.2037. Therefore, the outright spot exchange rate is 1.2037.
Pastoria Enterprises has scheduled raw material purchases of $100,000 in January, $130,000 in February, and $150,000 in March. The company pays for 75% of its purchases in the month of purchase and 25% the month after the purchase. Calculate the expected cash disbursements for the month of February.
a. $135,000
b. $122,500
c. $107,500
d. $130,000
Answer:
B
Explanation:
The question asks to calculate how much will be disbursed by the company in February.
Firstly , we know that the company disburses 75% in the month of purchase and 25% during the month after purchase.
Now, 75% of $130,000 would be disbursed as February’s own payment:
Mathematically 75/100 * 130,000 = 97,500
Also, we should not forget that the company disburses 25% of previous month during the current. That is 25/100 * 100,000 = 25,000
Total amount disbursed is thus 25,000 + 97,500 = $122,500
Final answer:
The expected cash disbursements for February for Pastoria Enterprises is $122,500, calculated by adding 75% of February's purchases to 25% of January's purchases that are due in February.
Explanation:
The question asks us to calculate the expected cash disbursements for Pastoria Enterprises in the month of February.
To find this, we need to account for the purchases made in February as well as the outstanding 25% from the purchases made in January that will be paid in February. Pastoria Enterprises pays for 75% of purchases in the month of purchase and the remaining 25% the month after.
Calculate 75% of February's purchases: 0.75 x $130,000 = $97,500.Calculate 25% of January's purchases that will be paid in February: 0.25 x $100,000 = $25,000.Add both amounts to get the total cash disbursements for February: $97,500 + $25,000 = $122,500.Therefore, the expected cash disbursements for February is $122,500, which corresponds to option b.
Which terms will make the following statement true? When manufacturing overhead is overapplied, the Manufacturing Overhead account has a __________ balance and applied manufacturing overhead is greater than __________ manufacturing overhead.
a) debit, actual
b) credit, actual
c) debit, estimated
d) credit, estimated
Answer:
b) credit, actual
Explanation:
The journal entry to record the over applied overhead is
Cost of Goods sold A/c Dr XXXXXX
To Manufacturing overhead A/c XXXXXX
(Being the over-applied overhead is recorded)
The over-applied overhead is arise when the applied manufacturing overhead is more than the actual manufacturing overhead
In mathematically
= Applied manufacturing overhead - actual manufacturing overhead
= Over-applied
You are the CEO of Disney, the largest entertainment company in the world. You have been approached with the opportunity to buy a national league hockey team. You can afford to buy the team and Disney has never owned a professional sports team before, but during board meetings the directors have discussed expanding into other areas of entertainment beyond movies, theme parks, and goods. This could create for you:
Answer:
conflict of interest
Explanation:
Conflict of interest occurs when an individual in an organisation has competing interests that can be financial or personal. Most times fulfilling an action results in abandoning another one. It can occur when the personal interest of an employee conflicts with the business decisions of the employer.
In this instance the CEO of Disney personally prefers to buy a national league hockey team, and sees it as an opportunity for Disney to own a professional sports team. However a conflicting idea is being proposed by the board, who want to expand into other areas of entertainment beyond movies, theme parks, and goods.
Owning a professional sports team can bring several benefits to Disney, such as increased brand recognition, new revenue streams, and the ability to cross-promote with other Disney properties.
Explanation:With the opportunity to buy a national league hockey team, as the CEO of Disney, you can create new opportunities for expansion into the sports entertainment industry. Owning a professional sports team can bring several benefits to Disney, such as increased brand recognition, new revenue streams, and the ability to cross-promote with other Disney properties.
For example, Disney could use the hockey team to create new content for its streaming platforms, feature team branding in movies and TV shows, and leverage the team's popularity to attract more visitors to its theme parks. Additionally, owning a sports team can provide Disney with a platform to engage fans, build partnerships with other organizations, and extend its influence in the entertainment industry.
________ is the first step in the systems development life cycle (SDLC), which defines the business need for a project, assesses its importance to the company, and determines whether the project is feasible.
The 'Initiation' or 'Planning' phase is the first step in the Systems Development Life Cycle(SDLC). In this phase, a business need for a project is identified, its significance to the organization is evaluated, and the project's feasibility is assessed.
Explanation:The first step in the Systems Development Life Cycle or SDLC is referred to as the 'Initiation' or 'Planning' phase. During this initial phase, a business need for a new project is identified, its importance to the company is evaluated and feasibility of the project is assessed. Essentially, the potential benefits of the project are weighed against the potential challenges and costs, giving a holistic understanding whether to undertake the project or not.
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The first step in the SDLC is project initiation, which defines the business need, assesses importance, and determines feasibility.
Explanation:The first step in the systems development life cycle (SDLC) is project initiation. In this stage, the business need for a project is defined, the importance of the project to the company is assessed, and the feasibility of the project is determined.
During project initiation, the focus is on understanding the purpose, goals, and scope of the project. This involves gathering requirements, conducting feasibility studies, and evaluating potential risks and benefits. The decision to proceed with the project is based on a thorough analysis of the business need and its alignment with the company's objectives.
For example, if a company wants to implement a new customer relationship management (CRM) system, the project initiation phase would involve assessing the need for the CRM system, determining its strategic importance, and evaluating whether it is feasible within the company's resources and budget.
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Vendors sometimes train the organizations employees or ________ to become inhouse train the trainer sessions.
Answer:
Super users.
Explanation:
A super user is a member of a department that has intimate knowledge of internal processes and bears responsibility of managing knowledge sharing in the department. Super users are the main source of support for end-users of a new product.
Super users assist end users with any issues, help them gain familiarity with the new software, and give feedback to the vendor on any issue.
Vendors also grant super users administration rights so they can resolve some problems independently.
Final answer:
Vendors sometimes train the organizations employees or 'train the trainer' to become inhouse train the trainer sessions. This method is seen as cost-effective, fosters continuous learning, and requires understanding of adult learning principles and effective training material development. The success of such programs relies on quality training and organizational support.
Explanation:
Vendors sometimes train the organization's employees or others to become in-house 'train the trainer' sessions. This method fits within a broader category of workplace learning and professional development strategies. In such programs, a vendor or an external expert educates select employees on specific skills or knowledge areas. Those employees then become equipped to teach their colleagues, creating a ripple effect of learning within the organization. This approach is not only cost-effective but also fosters a culture of continuous learning and adaptation. Key aspects of these programs include understanding adult learning principles, developing effective training materials, and mastering delivery techniques to engage diverse audiences.
There are several benefits to this approach, including tailored training that is directly relevant to the organization's needs, enhanced internal capacity for training, and increased employee engagement through peer learning. However, the success of train the trainer programs depends on the quality of the initial training, the ability of the identified in-house trainers to pass on the knowledge effectively, and the organizational support for learning and development initiatives.
Comparing how many dollars it takes you to run your car each year to annual earnings on a job insteadof keeping track of costs in terms of gallons of gasoline and quarts of oil represents the use of money as:_______. a. means of payment.b. unit of account.c. store of purchasing power.d. form of plastic money.
Answer:
B
Explanation:
Money has several functions, one of its principal function is using it as unit of account. By comparing the amount in dollars spent on running a car yearly to annual earnings instead of keeping track in terms of gasoline cost and quarts of oil shows that money has been used as a unit of account.
This means that the amount of gasoline gallons bought and quarts of oil has been essentially replaced by the cost of these purchases and hence avail is the power to use money as a unit of account
When consumers need to purchase a refrigerator, they usually evaluate different models across a set of features or characteristics, such as storage capacity, freezer shelving, and energy cost efficiency. Such an evaluation is an example of a(n) _____.
Answer:
The correct answer is attribute-based evaluation.
Explanation:
The products are susceptible to an analysis of the tangible and intangible attributes that make up what can be termed as their personality.
This analysis is carried out through the evaluation of a series of factors that allow dissection of the product, starting from the central elements to the complementary ones, so that in view of both ours and those of the competition, we can elaborate the marketing strategy that allows us to position the product in the market in the most favorable way. In any case, the different factors that we include below have to serve us only as a script or reference, since depending on the product that we commercialize other totally different attributes will be studied.
Suppose 52% of students support the idea of paying student government officers. A random sample of 400 students is taken. What is the probability that fewer than 50% of the students surveyed will express support for paying student government officers?
Answer: The probability that fewer than 50% of the students surveyed will express support for paying student government officers is 8.501 × 10^-65
Explanation:
Since fifty two percent (52%) of the surveyed students support the idea of paying student government officers, it consequently means that 48% (100% - 52%) of students are against the idea or not in support of it.
To find the probability that less than or fewer than fifty percent (< 50%) of the 400 surveyed students are in support, we must obtain the actual number of students that represent 50% of the individuals surveyed.
= (50/100) × 400
= 200 students.
Therefore, we are to find the probability that less than 200 of the surveyed students are in support of the payment. This means that at least, 201 of the surveyed students are not in support of the payment.
Since, 48/100 generally represents the percentage of students that are not in support of the idea, then we multiply 48/100 by itself up to 201 times. The opinions of the other 199 surveyed students doesn't matter
= (48/100)^201
= 8.501 × 10^-65
On June 1, 2018, Brooktown levied special assessments in the amount of $500,000, payable in 10 equal annual installments beginning on June 30, 2018. The assessment installments are intended to pay principal and interest on special assessment bonds for which the town has pledged its full faith and credit should assessments be insufficient. Assuming no allowance for uncollectible receivables, the journal entry in the debt service fund on June 1, 2018 would include:
Answer:Dr Revenue :special assessment service $500 000
Cr Account Receivables $500 000
Explanation:
Dr Revenue :special assessment service $500 000
Cr Account Receivables $500 000
recognizing Revenue generated from services rendered (special assessments services) which increases account receivables for Brooktown because the amount of $500 000 is payable in 10 annual instalments
$500 000 revenue will be paid in 10 equal instalments, 500 000/10 =
$50 000.
When the the first instalment is received on the 30th of June 2018, the following journal would be processed
Dr Bank $50 000
Cr Account receivable $50 000
Guarantees also may trigger financial statement recognition of a liability. Which of the following guarantees would not require financial statement recognition on the books of the guarantor? a. Guarantee to repay the debt of another firm that is solvent and profitable (the interest rate of the debt was not reduced due to the guarantee) b. Guarantee to repurchase accounts receivable sold in a prior transaction if the receivables become uncollectible c. Guarantee to repay the debt of another firm that is insolvent d. Guarantee to repay the debt of another firm that is currently solvent but has no history of profitability (the interest rate of the debt was reduced due to the guarantee)
Answer:
a. Guarantee to repay the debt of another firm that is solvent and profitable (the interest rate of the debt was not reduced due to the guarantee).
Explanation:
According to the rules of full disclosure, the company is to disclose facts about all transactions or contracts that impact and business. For example of a business is most likely to go out of business because of an unfavourable court ruling, this information must be disclosed in the companie's financial statement. If however the activity will not impact the business there is no need to disclose.
In this instance the guarantee need not be disclosed since the guarantee is to repay debt of a company that is solvent and profitable. The chances that the guarantee will become enforceable is very slim.
Also the interest rate of the debt was not reduced due to the guarantee. So there is no financial impact on the business.
A firm has $200 million in total revenue and explicit costs of $190 million. Suppose its owners have invested $100 million in the company at an opportunity cost of 10 percent interest rate per year. The firm's economic profit is:_________.1. $400 million2. $100 million3. $80 million4. Zero
Answer:
The answer us 4. Zero
Explanation:
Economic profit equals explicit cost minus implicit cost.
Explicit cost is also known as the accounting cost. It is the cost that are directly related or attributed to the production.
Implicit cost is the opportunity cost. It it the cost cost of the alternative forgone. The cost of the idea or business that wasn't chosen.
Explicit cost is $190 million
Implicit cost is $10 million( 10percent of $100million)
Total revenue is $200 million.
Therefore, economic profit is
($200 - $190 - 10)million.
= 0 or zero
Competing in the markets of foreign countries entails dealing with such factors except:_____. a) important country-to-country differences in consumer buying habits and buyer tastes and preferences. b) the prevalence of global brands. c) whether to customize the company's offerings in each different country market or whether to offer a mostly standardized product worldwide. d) fluctuating exchange rates, country-to-country variations in host-government restrictions and requirements, and variations in cultural, demographic, and market conditions. e) the fact that product designs suitable for one country are sometimes inappropriate in another.
Answer: b) the prevalence of global brands.
Explanation:
Competing in the markets foreign of countries entails dealing with dealing with such factors except the prevalence of global brands.when a company is competing in the Markets of foreign Country the prevalence of global brands is not the factor a company should be dealing with. Factors such as exchange rate fluctuations , country to country differences in consumer buying habits and preferences are factors a company deals with among other factors
Assume that the marginal cost (MC) of production is increasingincreasing. Can you determine whether the average variable cost (AVC) is increasing or decreasing? Explain.
Final answer:
When the marginal cost (MC) of production is increasing, the average variable cost (AVC) is also increasing.
Explanation:
The relationship between marginal cost (MC) and average variable cost (AVC) can be determined based on the behavior of the two curves. If the MC curve is increasing, it means that each additional unit of output is becoming more costly to produce.
This implies that the cost of producing each additional unit is higher than the average cost of production, so the AVC curve is also increasing. Therefore, when the MC is increasing, the AVC is also increasing.
A company's competitive strength scores pinpoint its strengths and weaknesses against rivals and Select one: a. point directly to accepting the competitive strength scores on face value. b. suggest the company use its strengths to exploit its own competitive liabilities. c. point directly to the company to use its weaknesses as offensive moves to challenge rivals' weaknesses. d. suggest receptivity for astute companies to drive their operating practices if the strength scores are very low. e. point directly to the kinds of offensive/defensive actions it can use to exploit its competitive strengths and reduce its competitive liabilities.
Answer:
e. point directly to the kinds of offensive/defensive actions it can use to exploit its competitive strengths and reduce its competitive liabilities.
Explanation:
A competitive strength assessment is defined as a weighted comparism of a business's strengths and weaknesses compared to the competition. The knowledge gained can be used to improve on weak areas.
Competitive advantage is the traits that set a business aside and gives it an edge over others. Competitive strength assessment evaluates the competitive advantages of a company. Therefore it shows the kinds of offensive/defensive actions it can use to exploit its competitive strengths and reduce its competitive liabilities.
Unstructured decisions are often used in _____. a. introducing a new product b. simple inventory problems c. record keeping d. capital acquisition analysis
Answer:
a. introducing a new product
Explanation:
Unstructured decisions are the decisions made on a case to case basis. There is no developed standard operating procedure on how to solve the issue. Unstructured decisions apply in unique and one-time situations.
Different decision-makers may offer varying solutions to the same problem in unstructured decisions. Decisions depend on the decision-maker's intuition, experience, and the information presently available. In unstructured decision- making, each situation presents unique challenges making it difficult to have a predetermined set of responses. Introducing a new product will involve making unstructured decisions as predicting the market reaction is not easy.
Statement that explains uses of Unstructured decisions is A:introducing a new product .
Unstructured decision making can be regarded as dynamic process which involves individual creating alternative as results of unavailable of a particular option. Though there may not be a known path to arrive at solution. This decision making can be utilised when introducing a new product.Therefore, option A is correct.
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Why are female fans particularly valuable to the sports industry? Cite two specific reasons.
Answer:
1. Potential huge target market for ticket sales
2. Advertising opportunities for different products
Explanation:
The proportion of female sports fan actually pretty low compared to the male counterpart. (For example, only around 22% of the basketball's fan base are women.)
That begin said , sports industry might want to focus on expanding the women's fan base because it could provide them with good financial incentives :
1. Potential huge target market for ticket sales and merchandise
More women fan base equal to more ticket sales that sold overall during the games, as long as it does not surpass the stadium's capacity. The sales of team's jersey and signs will also increase along with it.
2. Advertising opportunities for different products
Advertising is a huge chunk of sports teams' profit. Since the majority of sport fans are men, the products that partnered with the team for advertisement tend to be to targeted toward men (such as truck tire or male cologne).Having larger women fan base will provide opportunities for brands that targeted toward women.
Which the following consists of all the benefits a product will provide for consumers or business customers? A. Augmented product B. Core product C. Actual product D. Good E. Attributes
Answer:
The correct answer is: E. Attributes.
Explanation:
Characteristics of a product are considered, the particularities that must necessarily be part of its nature. If a change in a particularity does not determine that it is a different product, or that it can be traded independently, that particularity will be a characteristic.
We talk about attributes when the particularities that make up a product determine the existence of a different product if there is a change in them. Therefore, it will be possible to market the original product and the product with the changed attribute separately. For example, if color is an attribute, and the original product is blue. A red product can be marketed independently of blue.
The attributes of a product may be susceptible to many different classifications, to highlight the distinction between tangible attributes and intangible attributes of a product. In turn, physical and functional ones can be distinguished within tangibles. In this way we have a classification in physical, functional and psychological attributes. The latter being the characteristic intangible attributes of a product.
It is also common to talk about the distinction between intrinsic attributes, which usually coincide with physical attributes, and external attributes, which serve to identify the product.
Thus, physical attributes are understood as those related to the material aspects of a product while functional attributes are those related to the utilities or benefits of a product.
It is important to keep in mind that, as in the case of the distinction between attributes and characteristics, the distinction between physical attributes and functional attributes does not have absolute character. That is, the physical attributes of one product can be functional attributes in another.
A company has increasing marginal returns. Total production is 5 units when the first worker is hired. Total production rises to 12 units when the second worker is hired. What must happen to total production when the third work is hired if the company is to maintain increasing marginal returns?
Answer:
Total production should be greater or equals to 20 units.
Explanation:
Increasing marginal returns is an improvement in the quantity of goods produced by a company and it typically occurs over the short period of time when the amount of a variable input is initially added to a fixed input.
so given that total production increases when the first and the second workers were hired, therefore total production should be more than 20 units
The development of a product that is closely related to one or more products in the existing product line, but designed specifically to meet somewhat different customer needs is best described as a(n) _______. a. quality modification b. aesthetic modification c. product modification d. brand extension
Answer:
d. brand extension
Explanation:
Brand extension is also called line extension. It involves using the same brand name for products that are closely related to the original but meet e different set of consumer needs. Additional items are introduced in the product category using the same brand name. For example introducing flavors, colours, ingredients, and package sizes.
Line extensions are of two types:
-Horzontal: price and quality are consistent, bit other factors like flavour and colour are changed.
-Vertical: involves increase or decrease of quality and price to create luxury and inferior goods
Wholesome Pet Food has successfully specialized for 20 years in high-quality pet food made from all-natural ingredients and organically raised lamb. This brand has a strong following and is recommended by veterinarians who practice in affluent neighborhoods. Wholesome's main supplier of lamb has announced that the price for lamb will be 15 percent higher next year. Which of the following statements is true?A. Wholesome will probably be able to pass the cost on to its customers because they are less sensitive to price increases than the average buyer.B. Companies pursuing Wholesome’s business strategy are especially vulnerable to this risk.C. If Wholesome raises its pet food prices, customers will turn to less expensive brands such as Purina.D. Wholesome probably operates on very thin margins, and a cost increase will threaten its ability to earn average returns.
Answer:
A. Wholesome will probably be able to pass the cost on to its customers because they are less sensitive to price increases than the average buyer
Explanation:
From the information provided about Wholesome Pet Food; a few statements stand out:
1.The Years of operation (20years)
2.The Standard of Pet Food (high quality: natural ingredients & organically raised lambs)
3.The followership of the Brand (Strong)
4. The Brand endorsement (from leading Veterinarians)
5. Finally the most important element; the Customers Wholesome Pet Food serve are from the affluent neighborhoods
Although more information would have given us a full understanding of the Pet food business e.g the Competitive advantage of Wholsome Pet food over close rivals, the elasticity of its brand, the % of its Customer base that are affluent, middle class or Poor, it's Business profitability proposition etc
However, considering the 5 items listed above it will be a safe argument concluding that Wholesome will probably be able to pass the cost on to its customers because they are less sensitive to price increases than the average buyer
Wayne worked in an office. He had no criminal record, had never had a complaint made against him about his work or his conduct, and had been a faithful employee for nearly 20 years. One day, Wayne followed his supervisor to his home and fatally shot him. The estate of the supervisor sued the company, claiming it should have been aware of Wayne's growing frustration with work. The company's best defense will be that
Answer:
A) there was no way to foresee that the incident would happen.
Explanation:
Wayne hadn't done anything wrong before in the company, his behavior at the workplace could be described as very good; no complaint in 20 years and no criminal record what so ever. If Wayne was frustrated about his job, he disguised it very well. No one can predict this type of behavior if the person shows no prior signs of violence or frustration.
Final answer:
The company's defense in the legal case against Wayne's fatal action towards his supervisor would likely be based on lack of foreseeability, due to Wayne's clean record and no prior indications of violence. They would need to show that a reasonable person could not have predicted the crime, in line with established legal standards.
Explanation:
The question relates to a legal case where Wayne, an employee with no prior criminal record, fatally shot his supervisor and the supervisor's estate filed a lawsuit against the company, arguing that it should have been aware of Wayne's growing frustration. The company's best defense might be to argue that there was no reasonable way to predict Wayne's violent action because he had a clean record and his behavior had not previously indicated any threat. In legal terms, this is known as lack of foreseeability. The company could support its defense by referencing the standards set by past legal cases, such as the reasonable person standard, which judges whether a typical person could have predicted or prevented the crime.
The real-world occurrence of violence in the workplace, such as the incident in Edmond, Oklahoma, where an employee who was known to be troubled committed a mass shooting, does highlight the necessity for employers to be vigilant. However, it also emphasizes that not all scenarios are predictable or preventable, especially when there is no warning sign, as with Wayne. When incidents involve actions fundamentally unpredictable and out of the control of the employer, the defense could argue that the employer met their legal obligations and there was no actionable negligence on their part.