Zipcar: Creating Value in the Marketplace Zipcar: Creating Value in the Marketplace Nearly a decade ago, the founders of Zipcar decided to bring the car-sharing experience to the United States. Since then, Zipcar has developed the gold standard by offering its members 24/7 access to thousands of cars around the world and creating a revolution in the way many think about alternate transportation. This activity is important because understanding the marketplace, especially consumers' needs and wants, is fundamental to marketing success. The goal of this exercise is to demonstrate how marketing focuses on creating value for customers, clients, partners, and society at large. Read the case of about how Zipcar creates value in the car-sharing services market and answer the questions that follow. Zipcar is a membership-based car sharing service offering automobile rental to its members in hour or day increments. Zipcar was founded in 2000 by Robin Chase and Antje Danielson, who were inspired by the success of car sharing in Europe; Avis Budget Group acquired the company in 2013. Zipcar has become the world's largest car-sharing service in over 50 North American cities, 20+ European cities, and over 100 college campuses in North America. Zipcar offers different types of membership, with plans aimed at both occasional and frequent drivers. In addition, special plans for corporations and universities are offered. In addition to monthly or annual membership fees, customers pay rental charges to use a Zipcar. Members can view vehicle accessibility and reserve a vehicle on Zipcar's website, using its mobile app, or on the telephone. "Zipsters" (as Zipcar members are called) are given a "Zipcard" that contains a wireless chip that opens their reserved vehicle; keys are stored inside the vehicle, along with a gas card members can use to fill the tank. When the Zipster is done with the car, s/he returns it to the car's home location (a reserved spot for the automobile in the member's area). Zipcar's fleet consists of automobiles from Audi, BMW, Ford, Honda, Nissan, and Toyota Ford and Toyota have partnered with Zipcar to test their new electric and hybrid options with Zipcar members. Zipcar focuses not only on creating a convenient experience for its members, but also on developing awareness about alternative transportation options. One of Zipcar's core missions is to "change the world through urban and environmental transformation." 1a. Zipcar is an example of what type of market... Zipcar is an example of what type of market orientation? Multiple Choice Ο exchange marketing Ο sales marketing Ο value-based marketing Ο production marketing Ο providence marketing
Complete Question
The complete question is shown on the first , second, third, fourth and fifth uploaded image
Answer:
1a
The correct option is C
1b
The correct option is D
1c
The correct option is C
1d
The correct option is C
Explanation:
1a. Zipcar is an example of what type of market...
Answer: value-based marketing
1b. Zipcar's goal is to have an available... Zipcar's goal is to have an available zipcar located within 10-15 minutes of its members. This is an example of what component of the marketing mix?
Answer:Place
1c Zipcar traditionally focused on marketing t... Zipcar traditionally focused on marketing toward individuals without cars as a convenient form of alternative transportation. Zipcar has now begun to also focus its marketing toward businesses and organizations to use Zipcar for their employees. This is an example of
Answer: B2B marketing
1d
1d. Which of the following statements about Zipcar illust... Which of the following statements about Zipcar illustrates how marketing can help to enrich society
Answer: One of Zipcar's core mission is to "change the world through urban and environmental transformation"
Simon Company had the following summarized operations for the month of May: cash sales, $32,000; sales on account, $18,000; expenses paid in cash, $5,000; expenses incurred on credit, $10,000. In addition, the company purchased equipment for $8,000 on account and supplies for $5,000 cash. The net income for the month of May is
Answer:
$35,000
Explanation:
The computation of net income for the month of may is given below:-
Net income for the month of may = Revenues - Expenses
= ($32,000 + $18,000) - ($5,000 + $10,000)
= $50,000 - $15,000
= $35,000
Therefore for computing the net income for the month of may we simply applied the above formula.
Hence, the net income is $35,000
A purposeful systematic process for collecting information on the important work related aspects of a job is called job description. TURE OR FALSE
Answer:
F
Explanation:
Green Corporation reported pretax book income of $1,012,000. During the current year, the net reserve for warranties increased by $50,600. In addition, tax depreciation exceeded book depreciation by $103,000. Finally, Green subtracted a dividends received deduction of $25,300 in computing its current year taxable income. Green's cash tax rate is:
Answer:
19.38%
Explanation:
Green corporation reported pretax book income as $1,012,000
The net reserve warranties increased by $50,600
Tax depreciation exceeded book depreciation by $103,000
The dividend received a deduction of $25,300
Cash tax rate= taxes payable/pre tax book income
The first step is to calculate the taxes payable
= $1,012,000 + $50,600 - $103,000 - $25,300 × 21%
= $934,300× 0.21
= $196,203
Therefore the cash tax rate can be calculated as follows
Cash tax rate= $196,203/$1,012,000
= 0.1938
= 19.38%
Hence Green's cash tax rate is 19.38%
Item 4Item 4 You’ve collected the following information from your favorite financial website. 52-Week Price Stock (Div) Div Yld % PE Ratio Close Price Net Chg Hi Lo 64.60 47.80 Abbott 1.12 1.9 235.6 62.91 −.05 145.94 70.28 Ralph Lauren 2.50 1.8 70.9 139.71 .62 171.13 139.13 IBM 6.30 4.3 23.8 145.39 .19 91.80 71.96 Duke Energy 3.56 4.9 17.6 74.30 .84 113.19 96.20 Disney 1.68 1.7 15.5 ?.10 According to your research, the growth rate in dividends for IBM for the next 5 years is expected to be 5 percent. Suppose IBM meets this growth rate in dividends for the next five years and then the dividend growth rate falls to 3.5 percent indefinitely. Assume investors require a return of 10 percent on IBM stock.
Answer:
P₀ = $106.96
Explanation:
the current dividend paid by IBM was $6.30 per stock
Div₀ = $6.30
Div₁ = $6.615
Div₂ = $6.94575
Div₃ = $7.2930375
Div₄ = $7.657689375
Div₅ = $8.040573844
Div₆ = $8.321993928
we must first determine the terminal value at year 5 = Div₆ / (rrr - g) = $8.321993928 / (10% - 3.5%) = $128.0306758
now we must discount the future values using the 10% discount rate:
P₀ = $6.615/1.1 + $6.94575/1.1² + $7.2930375/1.1³ + $7.657689375/1.1⁴ + $8.040573844/1.1⁵ + $128.0306758/1.1⁵ = $6.013 + $5.740 + $5.479 + $5.230 + $4.993 + $79.50 = $106.96
Item 12Item 12 During October, a firm had the following transactions involving revenue and expenses. Paid $1,275 for rent for October Provided services for $2,900 in cash Paid $280 for the October telephone service Provided services for $2,050 on credit Paid salaries of $1,750 to employees Paid $380 for the monthly office cleaning service Calculate the net income or net loss for the period?
Answer:
$1,265
Explanation:
Net income is the excess of revenue over expenses while Net loss is the excess of expenses over revenue.
We can calculate the net income/net loss for the firm as seen below.
Revenue $
Service. 2,900
Service 2,050
Less : Expenses
Rent $1,275
Telephone $280
Salaries. $1,750
Cleaning $380. (3,685)
Net income. 1,265
You’ve collected the following information about Gandalf, Inc.Sales $320,000 Net income $18,500Dividends $7,300Total debt $68,000Total equity $99,000 A. What is the sustainable growth rate for the company? B. Assuming it grows at this rate, how much new borrowing will take place in the coming year, assuming a constant debt-equity ratio? C. What growth rate could be supported with no outside financing at all?
Answer:
11.31%
Explanation:
sustainable growth rate = retention rate x return on equity
return on equity (ROE) = net income / shareholders' equity = $18,500 / $99,000 = 18.69%
retention rate = 1 - dividend payout ratio
dividend payout ratio = dividends / net income = $7,300 / $18,500 = 39.46%
retention rate = 1 - 39.46% = 60.54%
sustainable growth rate = 0.6054 x 0.1869 = 0.1131 = 11.31%
The sustainable growth rate for the company is : 11.31%
Sustainable growth rate is computed as :
= Retention rate x return on equity
Return on equity (ROE)
= Net income / shareholders' equity = $18,500 / $99,000 = 18.69%
Retention rate
= 1 - dividend payout ratio
Dividend payout ratio
= dividends / net income
= $7,300 / $18,500
= 39.46%
Retention rate
= 1 - 39.46%
= 60.54%
Sustainable growth rate
= 0.6054 x 0.1869
= 0.1131
= 11.31%
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If the inflation rate was 2.40% and the nominal interest rate was 7.20% over the last year, what was the real rate of interest over the last year? Disregard cross-product terms; that is, if averaging is required, use the arithmetic average. Round intermediate calculations to four decimal places.
Answer:
the real rate of interest is 4.80%
Explanation:
The computation of the real rate of interest is shown below:
Real rate of interest is
= Nominal rate of interest - inflation rate
= 7.20% - 2.40%
= 4.80%
It is the difference between the nominal rate of interest and the inflation rate and the same is to be considered
hence, the real rate of interest is 4.80%
What are the determinants of supply? Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the box once to place a check mark. For incorrect answer(s), click the option twice to empty the box. Income unanswered Prices of other goods unanswered Technology unanswered Tastes and preferences unanswered Resource prices unanswered Number of producers
Answer:
Number of producers
Prices of other goods
Technology
Resource prices
Explanation:
Supply is the total amount of goods and services available to consumers in a market
The higher the number of producers, the higher the number of goods produced and the higher the supply all things being equal. The reverse would be the case if the number of producers fall.
If the price of other good increases, it would be more profitable to produce the other goods. As a result, the number of producers available to good would reduce.
Technological progress that reduces cost of production and makes production more efficient, would lead to an increase in supply.
If the price of inputs increases, it becomes more expensive to produce the good and as a result, supply would fall.
5. The demand for good X is estimated to be QXd = 10,000 - 4PX + 5PY + 2M + AX where PX is the price of X, PY is the price of good Y, M is income and AX is the amount of advertising on X. Suppose the present price of good X is $50, PY = $100, M = $25,000, and AX = 1,000 units. Determine 1. a. Own price elasticity of demand b. Cross price elasticity of demand c. Income elasticity of demand d. Is good y a complement or a substitute e. Is good is normal or inferior
Answer:
We need to calculate quantity demanded of good X
Qxd = 10,000 − 4PX + 5PY + 2M + AX
Qxd = 10,000 − 4(50) + 5(100) + 2(25000) + 1000
Qxd = 10,000 - 200 + 500 + 50000 + 1000
Qxd = 61,300
a. E(P) = ∆Qx/∆Px * (Px / Qx)
E(P) = - 4 * (50 / 61,300)
{where, ∆Qx/∆Px is the price coefficient = -4}
E(P) = = - 0.003 (The absolute value is 0.003)
Demand is inelastic, because price elasticity is less than 1.
b. CPED = ∆Qx/∆Py * (Py / Qx)
CPED = 5 * (100 / 61,300)
[where, ∆Qx/∆Py is the price coefficient of good Y = 5]
CPED = 0.008
c. IED = ∆Qx/∆M * (M / Qx)
= 2 * (25,000 / 61,300)
[where, ∆Qx/∆M is the income coefficient = 2]
= 0.816
d. Good Y and X is subtitles because CPED is positive.
e. Good X is a normal good because income elasticity is positive.
What are the three components of the BI Ecosystem?
A. Data
B. Intelligence creation
C. Information Management
D. Innovation
Calculate the fair present values of the following bonds, all of which pay interest semiannually, have a face value of $1,000, have 12 years remaining to maturity, and have a required rate of return of 10 percent. (LG 3-5) a. The bond has a 6 percent coupon rate. b. The bond has a 8 percent coupon rate.
Answer:
the bonds' current market value = PV of face value + PV of coupon payments
a. The bond has a 6 percent coupon rate.
PV of face value = $1,000 / (1 + 5%)²⁴ = $310.07
PV of coupon payments = 30 x 13.799 (PV annuity factor, 5%, 24 periods) = $413.97
bond's market value = $724.04
b. The bond has a 8 percent coupon rate.
PV of face value = $1,000 / (1 + 5%)²⁴ = $310.07
PV of coupon payments = 40 x 13.799 (PV annuity factor, 5%, 24 periods) = $551.96
bond's market value = $862.03
What is the amount of the non-cash Items for 2015?
a. $481 million
b. $227 million
c. $311 mllon
d. $473 million?
Answer: c. $311 mllon
Explanation:
Non-cash items are those items that go into the income statement and can either increase or decrease profits but do not have an actual cash value. In other words, they may affect the calculation of profit but they do not impact the company's cash flow.
Examples include; Depreciation and Amortization
, deferred income taxes and loss on disposal of property and equipment.
From the statements of Woodlands Inc., there seems to be only one non-cash item which is Depreciation at a value of $311 million.
A stock that sold for $ per share at the beginning of the year was selling for $ at the end of the year. If the stock paid a dividend of $ per share, what is the simple interest rate on the investment in this stock? Consider the interest to be the increase in value plus the dividend.
Answer:
137.77%
Explanation:
obviously the numbers are missing, so I looked for a similar question:
"A stock that sold for $26 per share at the beginning of the year was selling for $52 at the end of the year. If the stock paid a dividend of $9.82 per share, what is the simple interest rate on the investment in this stock? Consider the interest to be the increase in value plus the dividend."
total interest received (your gain) = (year end market value - purchase price) + dividends received = ($52 - $26) + $9.82 = $35.82initial investment (purchase price) = $26simple interest rate of return on investment = total interest received / initial investment = $35.82 / $26 = 1.3777 or 137.77%
How do society, politics, and culture affect HRM?
Explanation:
Human resource management is responsible for attracting, retaining and helping employees to develop skills that will contribute to an organization achieving its objectives and goals.
Therefore, this strategic business area is directly impacted by society, politics and culture, as human capital in companies is increasingly valued in companies, as today's society is more connected and more informed, which requires companies to adapt to increasingly developed and organized standards with respect to labor relations.
The globalized world directly impacted the relationship between the employee and the company, as it is necessary to stand out in an environment where there is so much competition, and this is also included in the area of human resources, because through an effective HR management, it is possible to capture and retaining talent for the organization that adapts to a world where there is greater interaction, greater need for innovation and vision.
The policy is also essential for the protection of employees and their rights, which means that HR must not only comply with legislative requirements for hiring, but also offer benefits that exceed those required, so that candidates are attracted to work in a company well positioned in the market.
The Balance Sheets at the end of each of the first two years of operations indicate the following: 2006 2005 Total current assets $600,000 $560,000 Total investments 60,000 40,000 Total property, plant, and equipment 900,000 700,000 Total current liabilities 150,000 80,000 Total long-term liabilities 350,000 250,000 Preferred 9% stock, $100 par 100,000 100,000 Common stock, $10 par 600,000 600,000 Paid-in-Capital in excess of par-common stock 60,000 60,000 Retained earnings 325,000 210,000 If Net Income is $115,000 and interest expense is $30,000 for 2006, what is the return on total assets for 2006 (round percent to one decimal place)
Answer:
Return on Assets (2006) = 7.60 %
Explanation:
Return on Assets = Earnings Before Interest and Tax ÷ Total Assets
Therefore,
Return on Assets (2006) = ($115,000 + $30,000) / ( $600,000 + $60,000 + $900,000) × 100
= $118,000 / $1,560,000 × 100
= 7.60 % (one decimal place)
The manager of Dukey’s Shoe Station estimates operating costs for the year will include $480,000 in fixed costs. Required: a. Find the break-even point in sales dollars with a contribution margin ratio of 50 percent. b. Find the break-even point in sales dollars with a contribution margin ratio of 30 percent. c. Find the sales dollars required to generate a profit of $250,000 for the year assuming a contribution margin ratio of 50 percent.
Answer:
a. $960,000
b. $1,600,000
c. $1,460,000
Explanation:
a. Break even point in sales dollar with a contribution margin ratio of 50%
= Fixed cost / Contribution margin ratio
Given that
Fixed cost = $480,000
Contribution margin ratio = 50%
Break even point in sales dollar = $480,000 / 50%
= $960,000
b. Break even point in sales dollar with a Contribution margin ratio of 30%
= Fixed costs / Contribution margin ratio
Given that
Fixed costs = $480,000
Contribution margin ratio = 30%
Break even point in sales dollar
= $480,000 / 30%
= $1,600,000
c. Sales dollar required to generate a profit of $250,000 with Contribution margin ratio of 50%
= (Fixed costs + Target profit) / Contribution margin ratio
= ($480,000 + $250,000) / 50%
= $730,000 / 50%
= $1,460,000
Vulnerability assessment is a curvey of a system to identify:_____.
Answer:
Threats and the risks they pose.
Explanation:
Vulnerability assessment is the identification, evaluation, classification, quantification and also the prioritization of the risks or vulnerabilities in a system. One main importance of carrying out this assessment is to find out the potential risks in a system before attackers find them. Through this assessment future risks can also be averted.
Answer:
Specific risks
Explanation:
Vulnerability assessment is defined as a process used to identifying, quantifying, and ranking vulnerabilities or weaknesses in a given system.
It has been applied in various fields like engineering, psychology, and economics.
There are different variables that gives rise to system vulnerability, and vulnerability asses helps identify specific risks.
The formula for Vulnerability is
Vulnerability = Risk + Response
Vulnerability assessment helps reduce effects of risks and also to avoid future risks
On December 31, 2019, The Bates Company's revenue is $340,000 and expenses total $220,000 before consideration of the following: Accrued wages total $16,000; Accrued revenues total $46,000; Depreciation expense is $22,000; Rental revenue of $8,000 was earned; the rent from a tenant was initially recorded by Bates as unearned rent revenue; The income tax rate is 30% of income before income taxes. What is Bates' net income after consideration of the above information
Answer: $95,200
Explanation:
Net Income before tax = Revenue - Expenses
Revenue = Revenue + Accrued revenues + Rental revenue
= 340,000 + 46,000 + 8,000
= $394,000
Expenses = Expenses + Accrued wages + Depreciation expenses
= 220,000 + 16,000 + 22,000
= $258,000
Net Income before taxes = 394,000 - 258,000
= $136,000
Net Income after tax = 136,000 ( 1 - Tax rate)
= 136,000 ( 1 - 0.3)
= $95,200
started with total assets of and total liabilities of . At the end of , total assets stood at and total liabilities were . Requirements 1. Did the stockholders' equity of increase or decrease during ? By how much? 2. Identify the four possible reasons that stockholders' equity can change. Requirement 1. Did the stockholders' equity of increase or decrease during ? By how much? (Enter a decrease with a minus sign or parentheses.) Change in stockholders' equity during the year is
Answer:
1. Assets = Equity + Liability
Equity = Assets - Liability
Opening Equity = 14,000 - 9,000
= $5,000
Closing Equity = 19,000 - 11,000
= $8,000
Increase ( Decrease) = 8,000 - 5,000
= Increased by $3,000
2. Four ways Equity can change.
Equity will increase if Common Stock is issuedEquity will increase if the company makes a profit ( Net Income ) as this will go to the Equity account as Retained earningsEquity will decrease if the company pays Dividends as those are paid from retained earningsEquity will decrease if there is a net loss.What costs does Shun Electronics consider to be direct costs?
Answer:
Shun Electronics direct costs - their set up establishment cost, associated technicians cost - are direct costs.
Explanation:
Direct Costs are the costs associated with production/manufacturing, not selling & distribution.
Generally, factory costs - factory power, factory wages etc are considered to be direct costs.
In case of Shun Electronics, their set up establishment cost, associated technicians cost - are direct costs.
What was your profit or loss over the day (in $)?
Answer:
profit or loss over the day (in $) is the subtraction of sell price(in $) from the purchase price(in $) at the end of the day.
Explanation:
To find the percentage of profit or loss we first find the profit or loss by the subtraction of sell price from the purchase price and than divide the result by the purchase price and multiply with 100.
Formoula for finding the percentage profit or loss= (sell price- purchase price)*100/(purchase price)
The following data have been recorded for recently completed Job 450 on its job cost sheet. Direct materials cost was $2,049. A total of 35 direct labor-hours and 195 machine-hours were worked on the job. The direct labor wage rate is $21 per labor-hour. The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $24 per machine-hour. The total cost for the job on its job cost sheet would be:
Answer:
Total cost= $7,464
Explanation:
Giving the following information:
Job 450:
Direct materials= $2,049
35 direct labor-hours
195 machine-hours
The direct labor wage rate is $21 per labor-hour.
The predetermined overhead rate is $24 per machine-hour.
The total cost is calculated using the following formula:
Total cost= direct material + direct labor + allocated overhead
Total cost= 2,049 + 35*21 + 195*24
Total cost= 2,049 + 735 + 4,680
Total cost= $7,464
or 2018, Gourmet Kitchen Products reported $22 million of sales and $18 million of operating costs (including depreciation). The company has $15 million of total invested capital. Its after-tax cost of capital is 9% and its federal-plus-state income tax rate was 35%. What was the firm's economic value added (EVA), that is, how much value did management add to stockholders' wealth during 2018
Answer:
Economic value added = $1,250,000
Explanation:
Economic value added (EVA) = Net operating profit after taxes - Invested capital * cost of capital
Economic value added= [($22,000,000 - $18,000,000) * (1 - 0.35)] - [$15,000,000 * 9%]
Economic value added = ($4,000,000 * 0.65) - $1,350,000
Economic value added = $2,600,000 - $1,350,000
Economic value added = $1,250,000
Which of the following are microeconomic problems? (You may select more than one answer.)(a) Work/leisure choice.(b) Marketing strategy.(c) Recession.(d) Inflation.(e) Federal budget deficit.
Answer:
(a) Work/leisure choice
(b) Marketing strategy
Explanation:
Microeconomic issues relate to those that are within the scope and power of individuals, households and firms which means that problems here will relate to decisions that these participants make in relation to resource allocation.
Choices relating to leisure or work have to do with the individual and the resources they would need or derive from either work or leisure and so are a microeconomic problem.
The marketing strategy that a firm should pursue is related to an individual firm and so is a microeconomic problem as well.
Homeowners insurance gives you both property and liability protection.
Answer:
True
Explanation:
If you have drunk friends you want this insurance.
True. Homeowners insurance provides both property and liability protection.
What is property protection?The property protection aspect of homeowners insurance covers the physical structure of the home, as well as personal belongings within the home, against perils such as fire, theft, and vandalism.
It may also provide coverage for additional structures on the property, such as garages or sheds. Liability protection, on the other hand, safeguards homeowners from legal and financial responsibility if someone is injured on their property or if they accidentally cause damage to someone else's property.
This coverage typically includes legal expenses and medical payments to the injured party.
The answer is true.
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Equivalent Units of Conversion Costs The Rolling Department of Oak Ridge Steel Company had 10,712 tons in beginning work in process inventory (70% complete) on July 1. During July, 82,400 tons were completed. The ending work in process inventory on July 31 was 7,416 tons (60% complete). What are the total equivalent units for conversion costs? Round to the nearest whole unit. 83,636 units
Answer:
Total equivalent unit 86,688
Explanation:
We will use the weighted average method of valuation.
Under the weighted average method of valuation, to account for completed units, it is assumed that the entire degree of work required is done in the period under consideration. So there is no separation of the completed units into opening inventory and fully worked.
Equivalent units = Degree of completion (%) × Number of units
Item Tons Working Equivalent units
Completed unit 82,400 82,400× 100% 82,400
Closing inventory 7,416 7,416 × 60% 7,416
Total equivalent unit 86,687.6
Taggart Goods Corp. just reported a net income of $8,000,000, and its current stock price is $17.50 per share. Taggart is forecasting an increase of 25% for its net income next year, but it also expects it will have to issue 2,400,000 new shares of stock (raising its shares outstanding from 5,500,000 shares to 7,900,000 shares). If Taggart’s forecast turns out to be correct and its price-to-earnings (P/E) ratio does not change, what does management expect its stock price to be one year from now? (Hint: If you choose to compute the firm’s price/earnings ratio, round its value to four decimal places.)
Answer:
$15.2279
Explanation:
Current P/E = Price per share * Share outstanding / Net Income
Current P/E = 17.5 * 5,500,000 / 8,000,000
Current P/E = 12.03
The Current P/E will remain the same next year
Next year P/E = Price * (New shares + Existing shares) / Next year earnings
12.03 = Price * (5,500,000 + 2,400,000) / 8,000,000 * 1.25
12.03 = Price * (7,900,000) / 10,000,000
12.03 * 10,000,000 = Price * (7,900,000)
Price = 120,300,000 / 7,900,000
Price = 15.22785
Hence, the price of shares next year will be $15.2279
Antonio owns a small computer repair firm. Suppose the economy has been in a recession for the past five months. When preparing the company's quarterly earnings report, Antonio realizes profits are down by over 50 percent compared to last quarter. As a result, he is forced to downsize his labor force. This is an example of a(n) _____ change.
Answer:
labor force
Explanation:
Remember, the labor force refers to a ratio of the number of employed and unemployed persons in a given economy or organization. In Antonio's case, his small computer firm had been affected by the economic recession; causing a decline in his labor force.
Give one advantage and one disadvantage for a Market Economy.
Answer:
Advantage: Variety
Disadvantage: Poor work conditions
Explanation: