Answer:
D) one cannot determine whether baseball stars today enjoy a higher standard of living than Babe Ruth did in 1931 without additional information regarding increases in prices since 1931.
Explanation:
The value of money changes over time due to inflation and to be able to compare someone's salary back in 1931 with a current salary we would need information regarding how inflation affected the purchasing power of the US dollar. For example, back then a new car costed less than $1,000. Since Babe Ruth was extremely famous and successful, his salary was probably huge compared to the average salaries of back then.
Final answer:
The question about Babe Ruth's salary compared to modern player salaries reflects a significant increase in the economic value of top athletes despite inflation. It highlights the impact of sports economics and societal changes on athlete compensation.
Explanation:
Babe Ruth, the famous baseball player, earned $80,000 in 1931. Today, the best baseball players can earn more than 400 times as much as Babe Ruth earned in 1931. However, prices have also risen since 1931. We can conclude that: the economic value of elite athletes has dramatically increased, despite inflation and changes in the monetary value over time.
This reflects not just a change in sports economics but in how society values entertainment and sports figures. The rise in player salaries since the abandonment of reserve clauses shows a shift towards a more player-favoring market, allowing athletes to command salaries closer to their marginal revenue product (MRP). The historical context of Babe Ruth's career and subsequent changes highlight the evolution of sports into significant cultural and economic phenomena.
Chevrolet has decided to focus on emergent consumers in the automobile market, which includes those individuals who are graduating from college and either heading off to college or the workforce. Chevrolet is engaging in which aspect of STP marketing?
Answer:
Targeting.
Explanation:
STP marketing stands for segmentation, targeting and positioning. The STP of a company is how it decides to compete in a market, and is tailored to a business's unique situation.
Chevrolet has decided to focus on emergent consumers in the automobile market, which includes those individuals who are graduating from college and either heading off to college or the workforce.
Chevrolet is engaging in the targeting aspect of STP.
Chevrolet's focus on emergent consumers in the automobile market, such as new college graduates, exemplifies the 'targeting' phase of STP marketing by identifying and appealing to a specific demographic segment.
Explanation:When Chevrolet decides to focus on emergent consumers in the automobile market, specifically targeting individuals who are graduating from college and who are transitioning either to further education or the workforce, it is engaging in an aspect of STP marketing known as targeting. STP stands for segmentation, targeting, and positioning, three foundational steps in developing effective marketing strategies. In this case, Chevrolet is segmenting the market by identifying a specific group of potential consumers—new college graduates—and then targeting this group with marketing strategies that appeal to their unique needs and aspirations. This approach demonstrates Chevrolet's use of demographic segmentation to tailor its marketing efforts, ensuring that its products resonate with the lifestyles, preferences, and financial situations of emerging adults.
Organizations can achieve a competitive advantage by using their resources to: Group of answer choices duplicate the value a competitor firm provides to its customers. create strategies that are simultaneously being implemented by competitors. foster competitive inertia. provide greater value for customers than competitors can.
Organizations can achieve a competitive advantage by providing greater value for customers than competitors can.
Explanation:In order to achieve a competitive advantage, organizations can use their resources to provide greater value for customers than competitors can. This can be done by offering unique products or services, superior customer service, or innovative features that set them apart from competitors.
For example, a company may offer a product that is more reliable, durable, and efficient than similar products on the market. This provides greater value to customers and gives the organization a competitive edge.
By focusing on providing superior value to customers, organizations can attract and retain more customers, increase market share, and ultimately achieve a competitive advantage over their competitors.
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Final answer:
Organizations gain a competitive advantage by providing greater value to customers than their competitors, following either a cost leadership or a product differentiation strategy, and playing to their core competencies.
Explanation:
Organizations can achieve a competitive advantage by utilizing their resources to provide greater value for customers than competitors can. According to Michael Porter's competitive strategy frameworks, firms can either adopt a cost leadership strategy or a product differentiation strategy. Companies aiming for cost leadership focus on minimizing costs to be able to offer goods or services at lower prices, while differentiation involves offering unique features that stand out from competitors. However, trying to achieve both cost leadership and differentiation can risk a firm's strategic focus, potentially getting "stuck in the middle" with neither clear advantage. Moreover, firms can also seek to leverage their core competencies, which are particular strengths in specific areas of their operations that provide unique value and create opportunities for improved profitability.
A company allowed its employees to take a half hour lunch break. However, the break was uncompensated, and the employees were not permitted to leave the employer’s premises during the break. Nevertheless, these employees did leave their positions on the production line and eat in an employee lunchroom. They also went outdoors at their discretion. Should the employer be required under the FLSA to compensate these hourly production workers for their 30-minute lunch breaks? What about maintenance workers who might be recalled early from their lunch breaks if an equipment breakdown required it?
Final answer:
Under the FLSA, bona fide meal periods typically do not need to be compensated, but this depends on whether employees are relieved of all duties. If maintenance workers are often recalled from breaks, their lunch breaks may need to be compensated.
Explanation:
Under the Fair Labor Standards Act (FLSA), there is an expectation that employers provide certain breaks to employees. However, whether a lunch break should be compensated depends on its length and the restrictions placed on employees during that time. Short breaks are typically considered compensable work hours, but bona fide meal periods, usually lasting at least 30 minutes, during which an employee is completely relieved from duty, are not.
Since the employees described are not permitted to leave the premises and maintenance workers might be called back early, this could indicate that they are not completely relieved from duty during their breaks. However, if the lunch period is a bona fide break, it may not need to be compensated. Whether these breaks should be paid may depend on specific circumstances, including the degree of freedom the employees have during their breaks and whether being on-call affects their ability to use the break for their own purposes. If maintenance workers are frequently recalled, their breaks may be more likely to be compensable.
Which of the following refers to the costs of production that fluctuate depending on the number of units produced? A. Total cost B. Contribution per unit C. Markup D. Variable cost E. Fixed cost
Variable cost refers to the costs of production that fluctuate depending on the number of units produced.
Explanation:The cost of any product that changes based on the quantity of goods that are produced. The volume that is produced decides the fluctuations in the variable cost. Fixed cost is the cost that will not change based on the number of units of the goods that is produced. Rent of a building can be considered as a fixed cost.
Example for variable cost may be raw materials cost, packaging cost,etc. Variable cost can be calculated by adding up the cost of labor and raw materials that are used in the production of one unit of a good. The total variable cost can be calculated by multiplying variable cost per unit with the number of units produced.
John works for a consumer products company. His job is to use information to identify and define marketing opportunities, evaluate marketing actions, and monitor marketing performance. John's work involves:_______.
Answer:
The correct answer is marketing research.
Explanation:
Marketing research is the process that includes the actions of identification, collection, analysis and dissemination of information with the purpose of improving marketing decision making. Its implementation occurs basically for two reasons: (1) to solve problems, for example, determine the potential of a market; and / or (2) to identify problems, for example, to know why a product does not have the expected consumption. In essence, it seeks to meet the customer thus complying with the first premise of marketing.
Organic Market sells high-quality products and grocery items that are unique to their area; in addition it offers delivery for customers who are unable to leave their home and a number of regular workshops regarding eating healthy. By offering these types of products and services, Organic Market is pursuing a _____ strategy. Group of answer choices
Answer:
focused differentiation
Explanation:
A focused differentiation strategy requires offering different or unique goods or services that satisfy the demands of a very narrow market (niche market). This type of strategy is usually carried out to either focus the company's efforts in satisfying a specific demographic market or focusing on a specific sales channel.
A representative gives a seminar to investors, making a presentation about successful hedge fund strategies. It is attended by 30 retail clients and 20 institutional clients. FINRA defines this as:
A. an advertisement
B. a solicitation
C. a retail communication
D. correspondence
Final answer:
The seminar given to investors about hedge fund strategies, as per FINRA's definition, is categorized as a retail communication because it's directed at more than 25 retail investors within a 30-day period.
Explanation:
According to FINRA, the scenario described, in which a representative gives a seminar to 30 retail clients and 20 institutional clients about successful hedge fund strategies, is defined as C. a retail communication. This term is used to describe communications made to more than 25 retail investors within a 30-calendar-day period. The purpose of such a communication is typically to inform and potentially persuade investors about the merits of a particular investment strategy or product. Thus, this would fall under the umbrella of commercial speech, where an entity communicates about its goods or services to consumers.
As part of his senior project, Kevin is conducting a survey of eating attitudes and behaviors among young adults. Kevin distributes questionnaires to 150 randomly selected students enrolled in lower-level psychology courses at his university. These students make up Kevin's
Answer:
sample.
Explanation:
The 150 students that received Kevin's questionnaire are considered the research sample, while young adults in general would be considered the research population. The whole idea behind using a sample is that you can extrapolate the data obtained from the sample to the whole population.
What is the first step in the marketing research process?
The first step in the marketing research process is defining the problem or identifying the research objectives. This involves stating what you want to learn or understand. This step is critical as it guides the entire research project.
Explanation:The first step in the marketing research process is the formulation of a clear problem definition or identification of the research objectives. This involves clearly stating what exactly you wish to learn or understand so that you can design your research to answer these questions. For example, a company might want to understand their target market's preferences or determine customer satisfaction levels. This step is crucial as it sets the direction for the entire research project.
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ToyMax seeks to determine the number of Kanban containers needed to feed a newly established work cell. The cell requires 600 parts over an eight-hour day. Production lead time for the parts needed by the cell is 3 hours and the cell supervisor recommends a safety stock equal to 50% of the cell’s daily production. Assuming a container size of 100 parts, how many containers are needed for the new cell?
Answer:
5.25 containers are needed
Explanation:
Given:
Total Demand for 8 hour = 600
Safety stock = 50%
Container size = 100
Lead hour = 3 hour
Computation of container required:
Demand for an hour = 600/8 = 75
Safety stock = 50% of 600 = 300
Needed container = [(Demand for an hour x Lead hour) + Safety stock ] / 100
= [(75 x 3) + 300] / 100
= 525 /100
=5.25
Therefore, 5.25 containers are needed
Assume a $1,000 Treasury inflation-protected bond has a 2 percent coupon and a face value at issuance of $1,000. The reference CPI is 202.34 and the current CPI is 203.18. What do you know for certain about this bond?
Answer:
The bond has a 2 percent coupon and a face value at issuance of $1000 which is the same with the Treasury inflation-protected bond. However, the reference Consumer Price Index (CPI) which is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services has increased from 202.34 to 203.18. From this deduction, what I know for certain about this bond is that the interest payment have increased and the coupon rate is still 2 percent.
Final answer:
We know for certain that the bond has a 2 percent coupon, pays $20 in coupon interest, and has a new principal value of approximately $1,006.672 based on the current inflation rate.
Explanation:
To determine what we know for certain about this bond, we need to analyze the given information. We know that the bond has a 2 percent coupon, which means it pays 2 percent of its face value as interest. Since the face value is $1,000, the bond pays $20 ($1,000 x 2%) as coupon interest. We also know that the reference CPI is 202.34 and the current CPI is 203.18. The difference between these two values is 0.84 (203.18 - 202.34), which represents the inflation rate.
The Treasury inflation-protected bond is designed to adjust its principal value based on changes in the CPI. This means that the principal value of the bond will increase or decrease based on the inflation rate. In this case, because the current CPI is higher than the reference CPI, the principal value of the bond will increase. To calculate the new principal value, we multiply the current principal value by the inflation rate and add it to the current value. Using the formula, the new principal value would be $1,006.672 ($1,000 + $1,000 x 0.0084).
Therefore, what we know for certain about this bond is that it has a 2 percent coupon, pays $20 in coupon interest, and has a new principal value of approximately $1,006.672 based on the current inflation rate.
E-commerce creates a great deal of data on how consumers interact with a website. L.L.Bean keeps records that show how quickly consumers make decisions, how many alternatives they explore, and whether they stop without completing a purchase. When a manager sees an issue and proposes a solution, the company can easily test the solution. This is an example of:________.
Answer:
evidence based decision making
Explanation:
Evidence made decision making refers to making decisions about issues related to the company or person based on available information gathered through experiential evidence (i.e. things that happened before).
In this case, L.L. Bean has huge amounts of information about their customers and their purchasing habits. When the company must decide about any issue or proposed ideas, they will test those ideas with the information stored at their databases. It is a way of simulating a potential outcome based on existing evidence.
The money interest rate is the percentage of the amount borrowed that must be paid to the lender in addition to the repayment of the principal. The real interest rate reflects the actual burden on borrowers and the payoff to lenders after accounting for the impact of inflation. True or false?
The given statement is TRUE
Explanation:
When the modification is done in order to remove the results of inflation and to show the real cost of the amount or money that has been raised, or the real yield on the amount of money that is given by the lender is the real interest rate.
When the total amount inclusive of the principal amount that has been borrowed from the lender along with the interest on it is to be paid back, then such interest rate is known as the money interest rate.
Therefore, as per the given information in the question, the statement is TRUE.
The given statement is TRUE
Explanation:
When the modification is done in order to remove the results of inflation and to show the real cost of the amount or money that has been raised, or the real yield on the amount of money that is given by the lender is the real interest rate.
When the total amount inclusive of the principal amount that has been borrowed from the lender along with the interest on it is to be paid back, then such interest rate is known as the money interest rate.
Therefore, as per the given information in the question, the statement is TRUE.
Charles purchases 20 basketball tickets per year when his annual income is $50,000 and 25 basketball tickets when his annual income is $60,000. Charles’s income elasticity of demand for basketball ticket is ________.a) 0.82, and basketball tickets are a normal good. b) 0.82, and basketball tickets are an inferior good c) 1.22, and basketball tickets are an inferior good d) 1.22, and basketball tickets are a normal good
Answer:
d) 1.22, and basketball tickets are a normal good
Explanation:
Given that
Q1 = 20
Q2 = 25
P1 = 50000
P2 = 60000
Income elasticity = (Q2 - Q1)/(Q2 + Q1) ÷ (P2 - P1)/(P2 + P1)
therefore,
IE = (25 - 20)/(25 + 20) ÷ (60000 - 50000)/(50000 + 60000)
= (5/45) ÷ (10000/110000)
= 0.11111 ÷ 0.09090
= 1.22.
Normal goods are those goods that demand increases with increases in income. Therefore, in this case basketball is a normal good as there was an increase in demand with increase in income. Also normal goods has positive income elasticity, given that 1.22 is positive, it also indicates that it is a normal good.
Answer:
d) 1.22, and basketball tickets are a normal good
Explanation:
Income elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Elasticity of demand = percentage change in quantity demanded/ percentage change in income
Percentage change in income = (60,000 - 50,000) / 50,000 = 0.5
Percentage in quantity demanded = (25-20)/20=0.25
0.25/0.5 = 1.25
A normal good is a good whose demand increases when income increases and falls when income falls.
It varies directly with income.
An inferior good is a good whose demand increases when income when income falls and falls when income rises.
Because the demand for tickets increases with income, the tickets are a normal good.
I hope my answer helps you
Anita is employed as plant manager for Mojo Industries, Incorporated. Though she spends some time performing all management functions, she is particularly concerned with tactical planning and controlling. Anita's position would be classified as part of Mojo's:
Answer:
middle management
Explanation:
Based on the scenario being described within the question it can be said that Anita's position would be classified as part of Mojo's middle management. This management level is responsible for leading the line managers as well as junior staff employees and their performance/productivity, including planning and controlling to make sure that everything is running as efficiently as possible.
Unlike a cost competitive advantage, a sustainable competitive advantage: a. is not attractive because of its durability. b. cannot be copied by the competition. c. lowers costs by removing frills. d. does not offer any low-priced products. e All the Above
Answer: b. cannot be copied by the competition
Explanation: Sustainable competitive advantage is an advantage that cannot be copied by the competition.
It is difficult for the competition to copy due to the rapid emergence of new products and competitors.
The sustainability of a competitive advantage depends upon the rate of obsolescence of the core competence, the availability of substitutes for the core competence, and the imitability of the core competenc e T/F
Answer:
The correct answer is True.
Explanation:
Currently, market competition, traditional conditions and factors, such as labor, access to financial resources and raw materials, offer less competitive advantages than in the past. Current trends require that
the top executives of the companies consider new concepts for their organizations, it is necessary to change the current way of seeing the organizations.
As a first step, it is necessary to visualize the company as a set of heterogeneous resources, capabilities and core skills that can be used to create an advantage over other companies in the market. This implies that each company has resources and capabilities that other companies do not have, at least not in the same combination. Resources are the source of capabilities, some of these lead to the development of core skills. Using core skills, companies can develop their activities better than their competitors. In essence, this new overview bases the strategy in terms of a unique competitive position, rather than operational efficiency.
As a source of competitive advantage, core skills distinguish a company at the competitive level and reflect its personality. These skills arise over time through an organizational process that consists of accumulating and learning to take advantage of the various resources and capabilities. As an ability to take action, core skills “... constitute the essence of what makes an organization unique in its ability to offer value to customers during a
long period".
The development of human resources prepares individuals to perform new functions and fulfill more specific responsibilities, simultaneously constitutes a powerful weapon against phenomena such as the obsolescence of staff knowledge, social and technical changes and the turnover rate .
Answer: True
Explanation: The rate of obsolescence of the core competence affects the sustainability of competitive advantage of a company whereby the managers must acquire modern analytical strategies and administrative formats.The less availability of the substitutes for the core competence the more the sustainability of competitive advantage. The less imitable and more innovative the core competence is, the more the sustainability of competitive advantage. This means it should be difficult to duplicate for the competitive advantage to be sustained.
13. The work day has just started and you receive reports that the inventory management server is not accessible on your company's network. You recall that the new network administration assistant was working on that server last night. Which tool can you use to determine if the network administration assistant left that server's NIC disabled?
Answer:
Server Manager
Explanation:
Based on the scenario being described within the question it can be said that the best tool for this would be Server Manager. This is a management console tool that allows individuals to manage servers from a desktop computer either locally or remotely. This tool will allow you to determine if the network administration assistant left that server's NIC disabled remotely from anywhere with an internet connection.Thus making it the best option.
1.The property in a mixed market economy likely is ____.
2. Most of the property in command economies is owned by ____. The citizens of a command economy are likely to own property than citizens of a mixed-market economy.
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:
Because countries have different financial regulations and customs, it is common for MNEs to apply their domestic rules and regulations when doing financial business in a foreign countrya) trueb) false
Answer:
B) False
Explanation:
Any multinational corporation must follow the laws that apply on the countries that they operate in. Regarding accounting practices, this is fairly simple, since most countries accept International Financial Reporting Standards (IFRS) rules. If the multinational corporation's headquarters are located in the US, the subsidiary will probably have to elaborate two different sets of financial records, one following the US GAAP and the other one following the IFRS guidelines. But that is optional, since the SEC is currently accepting financial statements using IFRS from American multinational corporations. Corporations that only do business in the US cannot use IFRS standards and must use GAAP, the option of using IFRS applies only to multinationals.
Which of the following is true of a sole proprietorship? a. A separate tax return must be filed. b. It is not a business entity. c. There is no personal liability for the owner. d. none of the above
Answer:
b. It is not a business entity
Explanation:
From the answers provided it can be said that the statement that is true about a sole proprietorship is that it is not a business entity. This is because a sole proprietorship is a business that has only a single owner and is not registered as a corporation, partnership or limited liability company. Meaning that there is no separate existence from the owner and the business, causing the business to NOT be a legal entity.
An investor has purchased less than 20% of the common stock available from each of 12 different investees. As part of their financial statements, they provide a report that details the cost and fair value for each of the investments. What is the purpose of this report?
Answer:
The investor wants to know about the fair value, cost and differences of these two in order to calculate the gains or losses for each of their investments
Explanation:
This helps them to calculate the losses arising because of the share prices fluctuations and best helps in assessing the future risks associated with the investment. This way of analyzing an investment and opting to whether sell or retain the investment is also reffered to as valueing investments on the basis of risks associated with investment. The investors also use this data to assess the performance of their investment in terms of gains and losses by the increase or decrease in the value of investment respectively.
Dynamic Production Services started the year with total assets of $120,000 and total liabilities of $55,000. The revenues and the expenses for the year amounted to $100,000 and $80,000, respectively. During the year, the company did not issue any common stock, but it distributed dividends of $50,000. Calculate Dynamic's net income for the year.
Answer:
$20,000
Explanation:
The income statement shows the revenue and expenses of an entity for a period. The difference between the entity's revenue and expenses gives the net income.
The balance sheet on the other hand shows the company's assets and liabilities, the difference of these is the owners equity.
Hence Dynamic's net income for the year,
= $100,000 - $80,000
= $20,000
Wall Corporation exchanges old equipment for new equipment. The original cost of the old equipment was $100,000, and its accumulated depreciation at the date of exchange was $60,000. The new asset received had a fair value of $80,000 and a book value of $65,000. The journal entry to record this exchange will include which of the following entries? 1. Credit gain on exchange of asset $4000 2. Credit equipment $100,000 3. Debit accumulated depreciation $60,000 4. Debit equipment $80,000 5. Debit equipment $65,000 6. Credit equipment $80,000 7. Credit accumulated depreciation $60,000
Answer:
2.Credit Equipment 100,000
3. Debit accumulated depreciation 60,000
Explanation:
When trading equipments to determinate if there is or not a gain or loss we have to know if there is commercial substrance.
When that is the case then, we can post the difference in value as gain or loss.
When there isn't, we enter the new equipment for the amount of the net book value of the equipment to avoid recording gain or losses.
Equipment (new) 80,000 debit
Acc Dep- Equipment (old) 60,000 debit
Equipment(old) 100,000 credit
Gain at Disposal 40,000 credit
--to record when there is commercial substance--
Equipment (new) 40,000 debit
Acc Dep- Equipment (old) 60,000 debit
Equipment(old) 100,000 credit
--to record when there isn't--
In both cases, whe have to write-off the old equipment thus, debit the accumulated depreciation balance.
and credit the old equipment cost
A college professor wants to know if the university students in the Unites States will find the new textbook that he has authored to be interesting and useful. He chooses all marketing majors at the school he teaches as his sample. He believes that this group of students will be representative of the university student population in the United States. In this scenario, the professor is most likely using:_______. a. area sampling.b. judgment sampling.c. cluster sampling.d. quota sampling.e. census sampling
Answer:
b. judgment sampling.
Explanation:
In this scenario, where he believes that this group of students will be representative of the university student population in the United States, the professor is most likely using Judgment or Expert sampling which is normally used in circumstances where the pointed population involves very intelligent people like student of the University of United States here who cannot be determined by using any different type of probability or non-probability sampling method.
The professor is using judgment sampling, where the sample is selected based on his own judgment rather than random selection, which often introduces biases.
Explanation:The college professor's belief that marketing majors at his own school can represent university students across the United States is an example of judgment sampling. Judgment sampling involves the selection of a sample based on the judgment of the researcher, rather than using random or statistical methods to ensure a representative sample. This form of sampling relies on the belief that the chosen sample will be typical or representative of the broader population, though it often introduces various biases and isn't guaranteed to accurately represent the larger group.
Your boss never gives you the benefit of the doubt. When you arrived late from lunch, he assumed that you had simply taken too much time. He never considered that the elevators were not working that day and the fact that you had to walk up 10 flights of stairs. Your boss is guilty of ________.a. self-serving bias.b. selective perception.c. fundamental attribution error.d. inconsistency.e. stereotyping.
Answer:
Your boss is guilty of Fundamental attribution error (C)
Explanation:
Fundamental attribution error is our tendency to explain someones behaviour based on internal factors such as personality while underestimating the effect external factors have such as situational influences.
Answer:
Fundamental attribution error.
Explanation:
In psychology, fundamental attribution error also called attribution effect or correspondence bias is the act of under emphasizing the situational explanations of an individual for the observed behavior of the individual while over emphasizing the personality based explanations for the behavior. It is sometimes described as the belief that people do whatever they want to do and what people do shows who they are.
In both examples mentioned in the question, the boss never gave the affected individual the benefit of doubt and he believed he wasn't saying the right thing.
When a seller breaches a sales contract, the Uniform Commercial Code (UCC) provides the buyer with an option to take immediate steps by canceling the contract and purchasing substitute goods from another vendor in order to continue business operations. This right is known as _____.
Answer:
Cover
Explanation:
There are various rights which protect buyers from any sort of misconduct by the sellers. This right is known as 'Cover' which force sellers to follow a contract and avoid unethical behaviour. If sales contract is not followed, buyers have a Cover right to immediately cancel the contract and look for another vendor to continue business operations.
____ are best described as unique strengths, embedded deep within a firm, that allow a firm to differentiate its products and services from those of its rivals, creating higher value for the customer or offering products and services of comparable value at lower cost.
Answer:
Core Commpetencies.
Explanation:
Core competencies are best described as unique strengths, embedded deep within a firm, that allow a firm to differentiate its products and services from those of its rivals, creating higher value for the customer or offering products and services of comparable value at lower cost. Firm can attain sustainable competitive advantage on the bsae of their core competencies as well. Every organization should work hard to find out the different products, services, channels and technology in order to generate not only sales but better positioning in the market as well which then will be harded for the competitors to imitate and copy.
Leisure is Select one: a. a good that is not counted in GDP. b. a good that is counted in GDP. c. neither a good nor a bad, and it is not counted in GDP. d. a bad as far as economists are concerned, because it is not tangible.
Answer:
a. a good that is not counted in GDP.
Explanation:
Leisure is not counted in GDP if the leisure activity does not have a market value, and is not exchanged in the markeplace.
For example, going for a walk, or sitting at a park to read are leisure activities that are not considered economically productive, and therefore, are not counted in GDP.
Online auctions are: a. based on the barter business model. b. used to bring buyers and sellers together in a real marketplace. c. cost-effective for selling excessive inventory. d. useful when goods already have a set price in the marketplace.
Answer:c. cost-effective for selling excessive inventory.
Explanation:An online auction is an auction which is held over the internet.
An online auction is similar to a traditional auction. You bid against others for an item. ... When you enter an auction to place a bid, the site's computers determine the amount you need to bid in order to become the highest bidder. You can accept this amount or enter your own bid.
Final answer:
Online auctions are cost-effective for selling excessive inventory and are designed for price discovery through bidding, rather than for goods with a set price in the marketplace.
Explanation:
Online auctions are not based on the barter business model, instead, they serve as a digital platform for buyers and sellers to transact, often powered by the dynamics of supply and demand. They are particularly cost-effective for selling excessive inventory, as they can quickly connect a seller with a large audience of potential buyers. Additionally, auctions are suitable when the value of goods is not predetermined, allowing the market to set the price through the bidding process. While it may seem that auctions could be used when goods have a set price in the marketplace, the essence of an auction is for the price to be discovered through bidding, rather than set ahead of time.