In response to the enquiry, this same solution is L1 L2 reduction throughout sector 1.
Explain what a market is.
A market is described as the aggregate of all sellers and buyers inside the region or area under consideration. The area could be the entire planet, or it could be countries, regions, countries, or cities. The value, cost, and cost of items traded in a market are determined by the supply and demand forces. When a product is on the industry, it is available to buy. If it ever hits the market.
What are the various market types?
Market types include:
Monopoly: A monopolistic is a market creation that possesses the characteristics of a pure industry.Oligopoly.The ideal rivalry.Monopolistic rivalry.Monopsony.Oligopsony.Monopoly by nature:To know more about Market visit:
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_________ refers to the strategic combination of the four basic marketing mix elements.
a. The marketing plan
b. The marketing program
c. Strategic control
d. The strategic mix
e. Implementation
Answer: b. The marketing program
The four elements of the fundamental marketing mix are strategically combined to form the marketing program.
The marketing program is a technique of conceptualizing the total scope of our marketing endeavors for the whole business. By our particular products or product families, this is dissected. There are products that occasionally cluster together because they share a similar quality or brand. That is referred to as a product family.
A marketing program outlines the outreach and PR initiatives that will be implemented over time, along with how the business will evaluate their success.
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identify which type of sampling is being used: a market researcher randomly selects 500 people from each of 10 cities.
If a market researcher randomly selects 500 people from each of 10 cities is an example of random sampling is collection of data.
What is Stratified sampling?Stratified random sampling is a type of probability sampling using which a research organization can branch off the entire population into multiple non-overlapping, homogeneous groups (strata) and randomly choose final members from the various strata for research which reduces cost and improves efficiency.
A research organization can branch off the total population into numerous groups and randomly choose final participants from the various strata for research using stratified random sampling, which lowers costs and increases efficiency.
Thus the aforesaid is an example of stratified sampling.
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The Labor Market - End of Chapter Problem Consider the labor market for workers who build boats. For each of the given scenarios, graphically show the effect on the market for boat-builders. a. Boat manufacturers begin using more efficient robots on the assembly line, and the substitution effect dominates the scale effect. Labor supply Wage ($ per hour) X Labor demand b. There is an increase in the wage of automobile manufacturing workers (assume boat-builders and automobile workers have similar skills and can work in both industries). Labor supply X Labor demand c. There is a decrease in unemployment benefits. Labor supply x Labor demand
The effect on market for boat-builders is that there is an increase in wage of the automobile manufacturing workers.
What is manufacturing?The process of generating or producing goods using resources like equipment, labor, tools, chemicals, or biological formulas is known as manufacturing. The secondary sector of the economy revolves around it. The expression can be used to represent a range of human activity, from handicraft to high-tech, but it is most usually associated with industrial design, which requires the extensive transformation of the raw materials from primary sector into finished goods. Planning and streamlining the processes that turn raw materials into final things fall within the purview of the engineering field known as "manufacturing engineering." The initial stages of production involve product design and material specifications. By transforming these elements into various shapes, the finished product is produced.
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which of the following statements about the federal gift tax is false? multiple choice the donor's basis in the gifted property carries over to become the donee's basis. the tax is imposed on the donor. the tax is based on the fair market value of the gifted property. an individual can give away $10 million (adjusted annually for inflation) every year without being subject to tax.
The solution is Option A: In 2018, the annual exception for gift tax is $15,000. That suggests the maximum amount a person may transfer tax-free is $15,000 each year. Option A is incorrect, thus. The other choices are all valid.
A tax is a necessary fee or financial charge that a government imposes on a person or a business in order to raise money for public projects like building the greatest infrastructure and services. Different public spending initiatives are then funded with the funds that have been raised. Its root word, taxare, is Latin for "to assess." Before then, the cognate term "task," which is derived from Old French, was used in English. "Task" and "tax" were both often used for a while; the first required labor, the second money. The word "tax" later came to describe anything tiresome or difficult. Your tax bracket and the proportion of your income that is taxed increase as your income does.
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efferson City Computers has developed a forecasting model to estimate its AFN for the upcoming year. All else being equal, which factor is most likely to lead to an increase of the additional funds needed?
a. a sharp increase in its forecasted sales
b. a sharp reduction in its forecasted sales
c. a reduction in its dividend payout ratio
d. excess capacity in its fixed assets
A: a sharp increase in its forecasted sales is the most likely factor to lead to an increase in the additional funds required.
Sales forecasting is a process to express expected sales revenue. A sales forecasting method estimates how much a company plans to sell within a certain time period (like a quarter or year). The best sales forecasting performs this estimation with a high degree of accuracy.
In the given scenario where a forecasting model has been developed by Jefferson City Computers in order to estimate its AFN for the year to come; the most likely factor to lead to an increase in the additional funds required is a sharp increase in its forecasted sales.
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TRUE/FALSE: If a firm moves into joint ventures and direct investments, it will eventually need to create an export department.
The statement " If a firm moves into joint ventures and direct investments, it will eventually need to create an export department." is true.
Give a brief account on joint ventures.Common ownership, common returns and risks, and common control are generally characteristics of a joint venture (JV), an entity formed by two or more parties. Joint ventures are typically operated by companies for one of four reasons:
Share the risks of large investments and projects, access skills and capabilities, combine assets and operations to achieve economies of scale, and access new markets, especially emerging markets. . The claim that joint ventures reduce downside risks is refuted by Reuer and Leiblein's research. According to Gerard Baynham of Water Street Partners, joint ventures have received a lot of notoriety, but objective data shows joint ventures outperform wholly owned and controlled subsidiaries. is shown to exist.
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he following cost information pertained to the violin division of stringing music company and was based on monthly demand and sales of 100 units: per-unit costs variable production costs: direct materials $ 170 direct labor 200 variable factory overhead 110 fixed production costs: depreciation (equipment) 70 factory rent 98 other 22 total production cost $ 670 variable selling $ 46 per unit Fixed selling & administrative costs $ 58 per unit Assume that the Violin Division was evaluating whether it would accept a special sales order for 65 violins at $500 per unit. For this purpose, total relevant cost per unit (given the costs stated above) is:
Based on monthly demand and sales of 100 pieces, the cost data below for the violin division of the stringing music company was as follows: cost per unit variable costs of production direct resources Direct labor costs of $170, $200 in variable manufacturing overhead, and 110 in fixed production costs.
$430. Selling price per unit minus variable cost per unit is $1,360. Contribution margin per unit on regular (i.e., recurring) sales = (given) Variable selling and administrative cost per unit = $1,360 ($300 + $330 + $240) $60 = $1,360 $870 $60 = $430. Variable production cost per unit .
Costs that are fixed are those that don't change based on volume. The majority of fixed costs are expenses that depend more on time than they do on how much your company produces or sells. Rent and leasing charges, salary, energy prices, insurance, and loan repayments are a few examples of fixed costs.
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everything else equal, an increase in the government budget deficit would: increase the government's demand for funds shift the demand curve for funds to the left increase the interest rate in the economy
Everything else equal, an increase in the government budget deficit would Increase the government's demand for funds and Increase the interest rate in the economy
An overrun in spending over income results in a budget deficit, which can be a sign of a nation's financial stability. The phrase is frequently used to describe government spending rather than that of companies or people. Budget deficits have an impact on the total amount a nation owes to creditors, the total of its annual budget deficits, and the national debt.
The government experiences losses during times of poor economic development or economic recession. Workers who leave their jobs pay less in taxes, which reduces the government's revenue.
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If the price elasticity of demand for a good is 0.8, then which of the following events is consistent with a 4 percent decrease in the quantity of the good demanded?
a. A 0.2 percent increase in the price of the good,
b. A 3.2 percent increase in the price of the good,
c. A 4.8 percent increase in the price of the good,
d. A 5 percent increase in the price of the good.
If the price elasticity of demand for a good is 0.8, then a 5 percent increase in the price of the good is consistent with a 4 percent decrease in the quantity of the good demanded. Therefore, the option D holds true.
The price elasticity of demand can be referred to or considered as the total resistance to change shown by a change in the price level of a good. When there is an increase in the price levels, then there is also a decrease in the demand for the good, which will be proportionate to the prevailing price elasticity of that good.
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on april 5, 20x9, you discovered that on february 16, 20x9, a flood destroyed the entire uninsured inventory in one of pumpkin's warehouses.on february 17, 20x9, you discovered that on february 16, 20x9, a flood destroyed the entire uninsured inventory in one of pumpkin's warehouses.on february 17, 20x9, you discovered that on november 30, 20x8, a flood destroyed the entire uninsured inventory in one of pumpkin's warehouses.on april 5, 20x9, you discovered that on march 30, 20x9, a fire destroyed one of pumpkin's 10 plants.on april 7, 20x9, you discovered that a debtor of pumpkin went bankrupt on january 6, 20x9.on january 16, 20x9, a lawsuit was filed against pumpkin for a patent infringement action that allegedly took place in early 20x8. in the opinion of pumpkin's attorneys, there is a reasonable (but not probable) danger of a significant loss to pumpkin.on february 19, 20x9, pumpkin settled a lawsuit out of court that had originated in 20x8 and is currently listed as a contingent liability.
Situation Possible actions no action is to be taken as there is a reasonable (but not probable) danger of a significant loss to pumpkin.
What factors lead to business losses?Poor asset utilization, ineffective working capital management, a lack of costing and pricing, a lack of planning and budgeting, inappropriate money use or diversion, and a thin equity foundation.
How may business loss be demonstrated?Limitations on company losses can be calculated using IRS Form 461 and reported on a personal tax return. This form collects data on your annual total income or loss from all sources. If your losses are limited, you can determine this by subtracting the business loss and comparing the result to the excess loss limits.
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You've just been assigned to prepare a ____ ratio analysis showing your company's ability to pay interest on its debts from its operating income.A)profit marginB)interest coverageC)management efficiencyD)management effectiveness
You've just been assigned to prepare a interest coverage ratio analysis showing your company's ability to pay interest on its debts from its operating income.
A debt and profitability measure called the interest coverage ratio is used to assess how easily a business can pay the interest on its existing debt. Divided by interest expense during a specific time period, a company's earnings before interest and taxes (EBIT) yields the interest coverage ratio.
The times interest earned (TIE) ratio is another name for the interest coverage ratio. This method is frequently used by lenders, investors, and creditors to assess a company's riskiness in relation to its present debt or for potential future borrowing.
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as mentioned earlier, gladstone corporation is about to launch a new product. depending on the success of the new product, gladstone may have one of four values next year: $150 million, $135 million, $95 million, and $80 million. these outcomes are all equally likely, and this risk is diversifiable. suppose the risk-free interest rate is 5% and that, in the event of def
Gladstone Corporation's new product launch is a risky venture, with four possible outcomes of the company's value next year: $150 million, $135 million, $95 million, and $80 million.
The risk of these outcomes is diversifiable, meaning that the company could spread the risk among different investments or strategies, such as diversifying their portfolio, hedging, or using insurance.
If Gladstone takes no action to mitigate the risk associated with their new product launch, the expected return on their investment is the risk-free rate of 5%. However, if they choose to diversify their risk, they may be able to increase their expected return if they can successfully spread their risk across a variety of investments. Additionally, if Gladstone purchases insurance to protect themselves from the downside of their new product launch, their expected return could be higher than the risk-free rate.
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which one of the following sectors grew at the fastest rate in the three years leading up to 2015? group of answer choices
Since the question does not have choices, I will discuss the various Economic sectors which had higher growth rates in 2015 in India.
There are many sectors in India mainly the primary, secondary, and tertiary sectors. The primary sector includes all those activities the end purpose of which consists in exploiting natural resources: agriculture, fishing, forestry, mining, and deposits. The secondary sector covers all those activities consisting of the processing of raw materials (manufacturing, construction industries).
The tertiary sector consists of the provision of services instead of end products it is also called the service sector. During the year 2013-2015, the service sector of India found a very high growth rate of nearly 57.03% growth in the GDP. In 2013-2014 the country's industrial sector had an increased growth rate of 24.77% in the GDP and the agricultural sector with a rate of 18.20%.
In 2014-2015 the agricultural sector only had a growth rate of 1.1 % lower than the previous year. So, we can conclude by saying that the Tertiary sector had the highest growth rate in India from 2013-2015.
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on november 1, eli co. received a $6,000, 60-day, 6% note from a customer as payment on his $6,000 account. eli's journal entry to record this transaction on november 1, would include a: (check all that apply.)
Credit of $6,000 to Accounts Receivable a $6000 debit to notes payable Eli Co. must document the likely cash inflow and outflow in the account document for the supplied report.
The amount that the business got is recorded as a credit to its account, while the amount that it will repay the lender is recorded as a debit. Later, the debit will be paid. A maker of furniture who has supplied furniture to a retail business is an example of an account receivable. Payment due is noted under accounts receivable once the manufacturer bills the retailer for the furniture. The maker of the furniture is awaiting payment from the retailer.
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Wearing a seat belt in an automobile to protect yourself against injury is an example of ____________ risk.
A) reducing
B) assuming
C) pooling
D) shifting
E) avoiding
Answer: reducing
Wearing a seat belt in an automobile to protect yourself against injury is an example of reducing risk.
By lowering the possibility and severity of a prospective loss, risk reduction seeks to mitigate potential losses. For instance, a risk-averse investor who is considering buying oil equities may decide against doing so due to the political and credit risk associated with the commodity.
It strengthens the stability of the organization and lowers its legal responsibility. - It helps an organization feel more confidence and aids in helping it make the best business decisions. It safeguards the participants and the business against any potential harm.
The alpha, beta, R-squared, standard deviation, and Sharpe ratio are the five main risk indicators.
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FILL IN THE BLANK. in a barter economy, people are to specialize in the production of one good or service, compared to in a money economy.
People are less likely to specialize in the production of a single commodity or service in a barter system than in a money economy.
What is the barter system?Barter is an exchange system in which participants directly trade commodities or services for other goods or services without the use of a medium of exchange such as money. Economists contrast barter economies with gift economies in a variety of ways; for example, barter offers instantaneous reciprocal transaction rather than one that is delayed in time. Bartering is normally done bilaterally, but it may also be done multilaterally. Only to a limited extent does barter operate alongside monetary systems in most developed countries.
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the total cost method includes all manufacturing costs plus selling and adminstratice espenses in the cost amount to which the markup is added to determine profuct price
The total cost method includes all manufacturing costs plus selling and administrative expenses in the cost amount to which the markup is added to determine product price is TRUE.
Total cost method is a pricing strategy which includes all production cost of a products and its related expenses then adding profit to the resulting amount. This method allows a company to put the highest price as possible based on its desired profits.
However, this method is disfavored by the boards and courts because it ssumes the reasonableness of a company's costs, the accuracy of its bid computations, and its lack of responsibility for increases in costs.
To overcome this issue, the modified total cost method is developed which is the adjusted version of total cost method for any deficiencies in the company's proof in satisfying the requirements of the total cost method.
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on january 15, ross furniture, inc., accepts a $5,000, 180-day, 10 percent note from a customer at the time of a product sale. prepare the january 15 entry for ross furniture by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
The two accounts will be notes receivable account and sales revenue account. The notes receivable account will be debited by $5000 and the sales revenue will be credited by $5000.
In a journal, business transactions are recorded in a chronological fashion. Recording journals is the first step in the creation of final accounts.
A customer's $5,000 note was accepted on January 15.
There are two accounts at play here: Sales revenue and Notes receivable
Both sales revenue and notes receivable are revenue items.
Entry:
Notes receivable account will be debited by $5000.
Sales revenue account will be credited by $5000.
Date Particulars Debit Credit
Jan- 15 Notes receivable account 5000
To sales revenue account 5000
(Being record of notes accepted
on sale)
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denny corporation is considering replacing a technologically obsolete machine with a new state-of-the-art numerically controlled machine. the new machine would cost $290,000 and would have a ten-year useful life. unfortunately, the new machine would have no salvage value. the new machine would cost $48,000 per year to operate and maintain, but would save $89,000 per year in labor and other costs. the old machine can be sold now for scrap for $29,000. the simple rate of return on the new machine is closest to (ignore income taxes.):
The simple rate of return on the new machine is closest to 17.2%. This rate of return is calculated by taking the net annual savings from the new machine ($41,000 = $89,000 - $48,000) and dividing it by the initial cost of the machine ($290,000). $41,000/$290,000 = 0.14103 = 14.1%.
Taking into consideration the initial cost of the old machine ($29,000), the total initial cost of the new machine comes at $261,000. Dividing the annual savings ($41,000) by the revised initial cost ($261,000) results in a simple rate of return of 17.2%. This rate of return takes into account the savings associated with the new machine as well as any scrap value that could be gained from the old machine.
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Businesses that sell services rather than merchandise don't have a line for _____ on their statements. A. operating expenses B.sales expenses C. Interest Expenses D. Cost of goods sold
Businesses that sell services rather than merchandise don't have a line for Cost of goods sold on their statements.
So, option D. Cost of goods sold is correct answer
The direct costs of producing the products that a business sells are referred to as its cost of goods sold (COGS). The cost of the labor and materials directly employed to make the good are also included in this sum. It doesn't include indirect expenditures like those associated with the sales staff and distribution.
The phrase "cost of sales" is another term for "cost of goods sold."
Cost of goods sold is typically not included in the income statement of service businesses. When a company sells commodities, the cost of goods sold (COGS) is computed (=ending inventory + purchases - beginning inventory).
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assume that the price of good x decreases from $10 to $9 per unit and that the quantity demanded of good x increases from 25 to 30 units. in this price range, the demand for good x is group of answer choices
Good X has an elastic demand.
What is elastic demand?An elastic demand is one where there is a significant shift in the quantity sought as a result of a price change.
Which 3 elasticity types are there?Elasticity is a term used to describe how responsive one economic variable is to changes in another economic variable. Prices, cross-price elasticity, and income elasticity of demand are the three main types of elasticity.
What are elasticity's several types?Price Elasticity of Demand (PED), Cross Elasticity of Demand (XED), and Income Elasticity are the three basic categories under which demand elasticity is divided based on factors influencing the quantity demanded for a product
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In the triggering event and the implementation stages of the start-up process model, which of the following environmental small business?
Select one:
a. competition
b. bankers
c. role models
d. suppliers
Option D. Suppliers are a key part of the start-up process model, as they provide the resources necessary for the business to get off the ground.
In the triggering event and implementation stages, suppliers can help entrepreneurs with the materials and services needed to start the business.
Which of environmental small business is as the statement?Option D. SuppliersSuppliers are a vital part of the start-up process model, as they are responsible for providing the resources needed to get the business off the ground. In the triggering event stage, suppliers can help entrepreneurs source the materials, products, and other resources required to start the business. During the implementation stage, suppliers are also needed to provide services and materials that are necessary to build the business's infrastructure and launch the product or service.
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Identify the true statements about Kaizen Improvement.
Kaizen refers to eliminating inventories. Both lean systems and just-in-time (JIT) systems can benefit from kaizen. Cost reduction can be achieved by kaizen.
What does "Kaizen Improvement" mean?Since the term's introduction as a systematic method for company improvement, businesses who use KAIZENTM have consistently produced better outcomes. Continuous improvement costing is referred to as kaizen costing. This method concentrates on examining the expenses incurred.
Kaizen, also known as continuous improvement, asserts that an organization can only succeed in the long run if every employee seeks out and implements improvements on a daily basis.
The pursuit of minor changes encourages reflection on the procedure and how it is being run.
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question:-
Identify a true statement about kaizen.
O It involves a huge financial investment.
O It is performed on a part-time basis.
O It is an intense, rapid improvement process.
O It is based on the concept of continuous improvement.
carlos is single and required to file a return. during the year, he received $900 in interest from a certificate of deposit held with his local bank. he also received $725 in interest from u.s. treasury securities and $300 in municipal bond interest. where on his tax return will carlos report this income? form 1099-int. directly on form 1040, page 1. the qualified dividends and capital gain tax worksheet. schedule b.
Carols will be required to be using Form 1099-INT to publicly release the interest.
What exactly is a bank?
A bank is an institution that lends or borrows money. It even gives loans to people who need them, and the money that is deposited earns interest. A bank is a bank that interacts in money as well as its substitutes and offers other financial services.
Briefing:
The diploma of deposit interest is $900.
The interest rate on US Treasury securities is $725.
The involvement on municipal bonds is $300.
Other wage income of $81,000
Carlos must file form 1099-INT to report all interest-related income.
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researchers have found that employees may be less likely to report ethical problems to management if they are intently focused on achieving a task. t/f
Researchers have discovered that if employees are completely concentrated on completing a task, they may be less inclined to report ethical problem to management. The statement is true.
How can businesses stop their staff from acting unethically?Employers can deter unethical behavior in their workforce by performing routine audits and sporadic spot checks. An employee's unethical behavior is frequently justified by the notion that it will never be discovered, hence it is safe.
What is moral behavior and immoral behavior?When people act in a good, moral, just, and appropriate manner, it is ethical behavior. People that act in a terrible, immoral, unjust, or improper manner are engaging in unethical behavior. Business ethics determine whether a company's actions are moral or immoral.
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an investment adviser with an office in state a has no office located in state b, but has registered in state b and has 19 customers located in state b. the administrator of state b is:
It is legal for the administrator of state b to look into any documents kept in the adviser's office in state a.
An administrator supports teams or individuals with office chores, which is crucial for the smooth operation of a business. They might be in charge of filing, word processing, creating spreadsheets and presentations, greeting visitors, directing them where to go, and answering phones. The tasks of an administrator include planning and managing an institution's or organization's daily operations. An administrator is someone who is in charge of making sure a company runs smoothly. They could have various duties depending on the kind of organisation, team, or body they work for. Above all, administrators need to be organised and proficient communicators. a person who oversees the management of a business or organisation.
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which of the following statements are correct? contracts are complete in both competitive goods markets and labour markets. social norms do not affect the outcomes in either goods markets or in labour markets. in a competitive goods market the buyers are price-takers, while in a labour market the buyers of employment (the firms) are price-setters. there is no economic rent for either the buyers or the sellers in competitive goods markets. in contrast, in labour markets the sellers receive economic rents.
The following statements " In a competitive goods market the buyers are price-takers, while in a labor market the buyers of employment (the firms) are price-setters and There is no economic rent for either the buyers or the sellers in competitive goods markets. In contrast, in labor markets the sellers receive economic rents" are True.
Understanding the operation and dynamics of the markets for paid labor is the goal of labor economics. The commodity of labor is provided by workers, often in return for a salary demanded by employers.
Labor economics must take into consideration social, cultural, and political factors because these workers are a part of a social, institutional, or political system. Employers and employees interact to drive labour markets, or employment markets. In order to understand the pattern of wages, employment, and income that results, labor economics examines the providers and consumers of labor services.
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Which of the following pricing techniques is most appropriate when developing targeting strategies based on the 80/20 rule observed in few industries?
Market-skimming pricing
Cost-plus pricing
Compensation-based pricing
Market-skimming pricing is most appropriate when developing targeting strategies
Price skimming is a method of product pricing in which a company sets its starting price as high as its target market would bear before gradually lowering it. The company reduces the price to appeal to a different, more price-sensitive portion of the population as the demand of the initial clients is met and competition enters the market.
The "skimming" of successive layers of cream, or client segments, as prices decline over time gives the skimming technique its name.
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the best approach to budgeting is objective and task budgeting, whereby the company determines its promotion objectives, outlines the tasks to accomplish these objectives, and multiple choice asks the ad agency for an estimate. surveys customers to determine what spending levels they think are appropriate. asks the media to propose a program. determines what spending level top management will allow for the proposed program. determines the promotion cost of performing these tasks.
The best approach to promotion is task and objective budgeting method whereby the company determines its promotion objectives, outlines the tasks to accomplish these objectives.
Give a brief account on promotion.Any sort of marketing communication designed to persuade target audiences of the relative qualities of a given good, service, brand, or issue is referred to in the marketing world as promotion. Marketing professionals can use either a cognitive or an emotional approach to help buyers remember their brand. The purpose of promotion is to raise brand awareness, pique interest, bring in business, or foster brand loyalty. It is a fundamental component of the market mix, which also comprises the four P.s. : product, price, location, and promotion.
Another component of the promotional mix or marketing strategy is promotion. Personal selling, advertising, sales promotion, direct marketing publicity, word of mouth, event marketing, exhibitions, and trade shows are some of these. Each component of the promotional mix should receive a certain amount of attention, and a promotional plan outlines how much of the cash should go toward each component.
Promotion includes all of the communication techniques a marketer does to spread the word about their product. Both verbal and visual information is possible.
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The complete question is mentioned below :
The best approach to promotion is _______ budgeting method whereby the company determines its promotion objectives, outlines the tasks to accomplish these objectives, and determines the promotion cost of performing these tasks.
Using a supply and demand analysis show first the labour market in equilibrium, and then
show
a) the effect of a reduction in the demand for labour as a consequence of a pandemic.
b) The effect of a government subsidy to producers to restore the employment of labour.
Provide a diagram with clear axis details. Make sure to explain what sort of assumptions you
are making on the elasticities of demand and supp.
If there is a decrease in labor demand as a result of a pandemic, the labor demand curve will shift to the left.
If the government offers a subsidy to producers in order to restore labor employment, the quantity supplied for labor will shift to the right.
What is the demand?The term “demand” relies on people's needs and wants to the amount of goods and services. Demand is an economic notion that deals with the connection between consumer demand for goods and services and their market prices.
If there is a decrease in labor demand as a result of a pandemic, the labor demand curve will shift to the left. This indicates that companies will be ready to hire fewer staff at any given salary rate.
If the government offers a subsidy to companies in order to restore labor employment, the quantity supplied for labor will shift to the right. This suggests that workers will be prepared to provide additional labor at any given wage rate.
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