In San Francisco, there are many restaurants that specialize in a wide variety of cuisines. Patronage at these restaurants is influenced by factors such as tastes, price, and location. This market is option (b) i.e, monopolistically competitive.
What is monopolistically competitive?
An industry with a lot of companies offering similar (but not identical) replacement goods or services is known as one with monopolistic competition. In a monopolistic competitive industry, there are few barriers to entry and exit, and no firm's decisions directly affect those of its rivals.
Monopolistic competition is characterized by a number of features.
slight variations in the goods and services,Free access to the market and exitmany businessesProfits from incomplete consumer knowledgeConsumer electronics, apparel, restaurants, and hair salons are a few examples of industries with monopolistic competition. Each business delivers goods that are comparable to those of other businesses in the same sector. They can, however, set themselves out through branding and marketing.
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A company has sales of $125,000, variable costs of $45,000 and fixed costs of $30,000. The contribution margin ratio is
Answer:64%
Explanation: (125,000-45,000) /125,000= 64%
The contribution margin ratio with the following data is 0.64.
What is the contribution margin ratio?The contribution margin ratio tells the ratio that can be reached after a particular point. This suggests that the revenue will be found out if the fixed cost will be revealed as the constant factor that is not going to change. the total revenue generated following absorption costing to pay for fixed costs and make a profit for the business,
The given information is:
Sales = $125,000
Variable cost = $45,000
Fixed cost = $30,000
The contribution margin of the company will be:
= Sales (S) - Variable cost (VC)
= $125000 - $45000
= $80000
The contribution margin rate for the company should be:
= Contribution margin / Sales
= 80000/125000
= 0.64
So, the ratio for the contribution margin will be 0.64.
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Consider the following bet: heads I pay you a dollar, tails you pay me a dollar. What is the expected payoff (return) of this bet? (Assume a fair coin.)
Expected Payoff = Probability of Heads * Payoff to you + Probability of Tails * Payoff
Expected Payoff to you = 50% * $2 + 50% * -$1 = $1 + (-$0.5) = $0.50.
$0.50 is the expected payoff (return) of this bet.
Expected value is a measure of what you can expect in the long run for each game. The game payment is the expected value of the game minus the cost. If you play the game repeatedly and get an average of about $ 2.20, and it costs only $ 2 to play, the expected payment is $ 0.20 per game.
To calculate the expected payoff, you need to multiply each result by an estimate of its probability and then sum the products. In this example, there is a 10% chance of a 5% drop with a -0.5% result.
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A sabbatical involves __________ Group of answer choices helping employees manage the demands that exist in the different roles they have. taking time off from work to engage in an alternative activity. two people sharing the responsibility of a single job. the splitting of one job into two
B) Involves taking time off from work to engage in an alternative activity.
What is a sabbatical?A sabbatical is a period of three to twelve months of unpaid leave from work, though some employers may offer compensated leaves as an incentive for long service. Taking one is not assured because they are often a workplace bonus rather than a legal right in most nations. There are several justifications for taking a sabbatical. They are employed to experience the globe, follow a passion, serve as volunteers in underdeveloped nations, or even just to prevent burnout from a hectic job life.
What Advantages Do Sabbaticals Offer?This will greatly depend on your circumstances.
For you to go away and pick up a new ability that will advance your profession, a career break may be necessary.You may have the chance to visit many locations around the globe, experience various cultures, and make lifelong friends as a result.Working on a school project, teaching a language, or conserving the environment, might enable you to have a modest impact on the world.It could provide you time and room to consider how to handle a major event that has occurred in your life. A viewpoint you wouldn't have acquired if you hadn't taken the time to depart from the conventional.Learn more about sabbatical with the help of the given link:
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Revenue on account amounted to $4,600. Cash collections of accounts receivable amounted to $2,750. Expenses for the period were $2,400. The company paid dividends of $600. What was the amount of net income for the period
Answer:
Net income = Revenue - Expenses
4600-2400=2200
The law of ______ returns states that as successive units of a variable resource are added to a fixed resource, beyond some point, the marginal product will decline.
The law of Diminishing returns states that as successive units of a variable resource are added to a fixed resource, beyond some point, the marginal product will decline.
What is the law of Diminishing returns?The law of diminishing returns explains that when an investment in a particular area increases there will be a stop at the rate of profit from that investment, after a certain point.
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The chief executive officers of the major U.S. steel makers would most likely be prosecuted under the antitrust laws if they Group of answer choices met to review developments in the domestic market for steel. agreed to work together to control the price of domestic steel. promised to reveal to each other their positions on trade and tariffs. conferred on resource, supply, and distribution issues.
Agreed to work together to control the price of domestic steel.
The chief executive officers of the major U.S. steel makers would most likely be prosecuted under the antitrust laws if they agreed to work together to control the price of domestic steel.
What are the objectives of antitrust law?The Sherman Act, the nation's first antitrust statute, was enacted by Congress in 1890 as a "comprehensive charter of economic liberty designed to maintain open and unhindered competition as the rule of commerce." The antitrust laws generally prohibit unauthorized mergers and business practices, leaving it to the courts to determine which ones are prohibited based on the specific facts of each case.
From the era of horses and buggies to the modern digital era, courts have applied antitrust rules to evolving marketplaces. Nevertheless, for more than a century, the antitrust laws have had the same fundamental goal: to safeguard the competitive process for the benefit of consumers, by ensuring that there are strong incentives for businesses to operate effectively, keep prices low, and keep quality high.
The three core federal antitrust laws:Any "monopolization, attempted monopolization, conspiracy, or combination to monopolize" is prohibited by the Sherman Act, as is "every contract, combination, or conspiracy in restraint of trade."The Sherman Act has harsh penalties that can be applied. The Sherman Act is a criminal law as well, and although the majority of enforcement actions are civil, anyone or any company that violates it may face legal action from the Department of Justice."Unfair techniques of competition" and "unfair or deceptive activities or practices" are prohibited by the Federal Trade Commission Act.
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________ is an incremental development process that focuses on setting a minimum number of requirements and turning them into a working product.
Idea development is an incremental development process that focuses on setting a minimum number of requirements and turning them into a working product.
What is idea development?Idea development focuses on improving on a an idea in other to get a good result.
It could involve a number of requirement and processes for implementation.
Therefore,
Idea development is an incremental development process that focuses on setting a minimum number of requirements and turning them into a working product.
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An employer-sponsored medical plan that allows each employee to have pretax earnings deposited into a specially designated account for the purposes of paying specific types of expenses is called a Question 46 options: flexible spending account. medical emergency account. medical contingency account. pre-tax contingency account. None of these.
An employer-sponsored medical plan that allows each employee to have pretax earnings deposited into a specially designated account for the purposes of paying specific types of expenses is called a "flexible spending account".
What is flexible spending account?A flexible spending account, often referred to as a flexible spending arrangement, is a specific account that you fund and utilize to cover a number of your out-of-pocket medical expenses.
Some features of flexible spending account are-
FSA monies can be used to cover copayments and deductibles, but not insurance premiums.Both over-the-counter medicines with a prescription from a doctor and prescription medications are eligible for FSA reimbursement. Insulin reimbursements are accepted without a prescription.Medical items like bandages, equipment like crutches, and diagnostic tools like blood sugar test kits can all be paid for with FSAs.Therefore, as long as your annual medical bills and/or costs for taking care of dependent are reasonably predictable. On average, every dollar invested will result in tax savings of 20–25%. Your savings grow as your income does.
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The manager responsible for applying payments to customer's accounts is the: credit manager. production manager. controller. payables manager. purchasing manager.
The answer is credit manager.
A manager is a person who is in charge of the management or administration of an organization or team of workers. And the individual who sets goals for the organization and can operate the business efficiently in the long run.
A Credit Manager, also known as a Collections Manager, safeguards a company's assets and manages the credit-granting process. Their primary responsibilities include evaluating the creditworthiness of new consumers, conducting assessments of existing customers, and maximizing corporate sales.
A good credit manager must have excellent analytical skills, a solid understanding of statistics, and the courage to make judgments that effect the bottom line of a firm.
The credit manager is responsible for adhering to the accounts receivable policy and administering credit.
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The balance in the supplies account before adjustment at the end of the year is $6,250. The proper adjusting entry if the amount of supplies on hand at the end of the year is $1,500 would be
The proper adjusting entry of the supplies account will include a debit to Supplies Expense $4,750 and a credit to Supplies $4,750.
What is a Supplies expenses?In account, this means cost of consumables that is used during a reporting period.
Supplies Expense = $6,250 - $1,500
Supplies Expense = $4,750
Therefore, its include a debit to Supplies Expense $4,750 and a credit to Supplies $4,750.
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Suppose that government spending is increased at the same time that an autonomous monetary policy tightening occurs. What will happen to the position of the aggregate demand curve
The position of the aggregate demand curve will be uncertain because increased government spending would shift the AD curve to the right while the autonomous policy tightening shifts the AD curve to the left.
What is an increased government spending?This government action are used to increase production and to recover fast from recessions through use of increased government spending to raises aggregate demand and increases consumption.
However, the position of the aggregate demand curve will be uncertain because this increased government spending.
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Romero employs Supply Procurement Service as an agent under a written agreement that describes the rights and duties of both parties. This is Group of answer choices equal authority. express authority. apparent authority. implied authority.
Romero employs Supply Procurement Service as an agent under a written agreement that describes the rights and duties of both parties is known as express authority.
The authority specifically granted by a contract between an agent and a principal to act on the latter's behalf. Observe the definitions of actual, implied, inherent, and apparent authority.
A sort of authority is expressed when it is explicitly stated or granted to the agent, either verbally or in writing, by the principle. For instance, expressed authority refers to a principal's (verbal or written) consent to an agent acting or carrying out transactions on their behalf.
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Intra-industry trade provides a way to combine the lower average production costs that come from ________ and still have competition and variety in the market.
The combination the lower average production costs that come from economies of scale is provided by an Intra-industry trade and as well to have an competition and variety in the market.
What is an economies of scale?This refers to a situation where the average costs per unit of output decrease with the increase in the scale of the output being produced by a firm.
Hence, the combination the lower average production costs that come from economies of scale is provided by an Intra-industry trade.
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Suppose the total fixed cost of a firm is $500, the total variable cost is $200, and the output produced is 5 units. The average fixed cost of the firm is ______.
The average fixed cost of the firm is $100.
Average fixed costUsing this formula
Average fixed cost=Total fixed cost/Out produced
Where:
Total fixed cost=$500
Out produced=5 units
Let plug in the formula
Average fixed cost=$500/5
Average fixed cost=$100
Therefore Average fixed cost is $100.
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To what extent should government influence the economy of a democracy such as the united states?.
Economic conditions often inform the policy changes that governments elect to enact. Specifically in the United States, government policy has always had a large amount of influence on economic growth, the creation of new business entities, and the success of financial markets.
In the broadest sense, a country's economic activity reflects what people, businesses, and governments want to buy and what they want to sell. Because the U.S. has a capitalist economy that relies on the principles of a free market, theoretically, it is primarily the decisions of consumers and producers that mold the economy.
In the United States, the government influences economic activity through two approaches: monetary policy and fiscal policy. Through monetary policy, the government exerts its power to regulate the money supply and level of interest rates. Through fiscal policy, it uses its power to tax and spend.
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When people use money to save for goods and services they will purchase at a later date, they are using money as
When people use the money to save for goods and services they will purchase at a later date, they are using money as a Store of Value.
What is a Store of Value?Any good or asset that typically retains its value over time serves as a store of value. It serves the purpose of being able to be preserved, recovered, and exchanged at a later date and to perform reliably well when retrieved.In the modern era, money, currency, or a commodity like a precious metal or financial capital have been the most prevalent stores of value. Any store of value should be used for risk management because there is a steady market for the underlying asset.One of the three widely acknowledged functions of money is the storage of value. The exchange medium serves as a middleman to prevent the problems caused by the coincidence of wants, among other things.
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Javier works as an assistant manager at a home improvement center. He wants to be promoted to the position of manager but feels that it is unlikely to happen. As a result, Javier is not motivated to achieve this goal. Which theory best explains Javier's situation
The that theory best explains Javier's situation is: expectancy theory
What is expectancy theory?Expectancy theory is a theory that stated that a person can tend to act in a particular ways by choosing a behavior based on what they want or expect the outcome of the behavior they choose to be.
Hence, Based on the scenario Javier situation explain expectancy theory because he wants to be promoted but on the other hand feels that the promotion is unlikely to happen.
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Market structure is determined by the Group of answer choices None of the Answers are Correct. Annual revenue, costs, and profits for an industry. Price charged for the good or service produced. Amount of compensation given to the CEOs. Number and relative size of the firms in an industry.
Market structure is determined by the number and relative size of the firms in an industry.
Market structure describes how different industries are categorized and distinguished based on how fiercely and in what ways they compete with one another for customers' goods and services. There are four different kinds of market structures: monopolistic competition, oligopolistic markets, perfect competition, and monopolistic markets.In economics, market structure illustrates how businesses are categorized and distinguished according to the sorts of items they sell and how external circumstances and elements impact their operations. It is simpler to comprehend the peculiarities of various marketplaces when there is a clear market structure.The four types of economic market structures are oligopoly, monopoly, perfect competition, and monopolistic competition. The following characteristics explain why the categories are different: In oligopoly, there are few producers, many in perfect and monopolistic competition, and one in monopoly.Thus the correct answer is Option D.
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Eleven uses performance management for administrative purposes. The administrative purposes focus on issues such as
It focus on issues such as determining who will be getting raises in administrative purposes .
Administrative purposesAdministrative purposes means any purpose necessary for the operation and proper functioning of the administrative, educational and medical services carried out by an approved developer in a zone.
Administrative purposes include administrative issues, including the working of the corporations, funding from the State government, disbursement of counsillor funds and shortage of staff, got about two to three times more attention than solid waste management, education and health.
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Emily is buying furniture for her apartment for the first time. She is spending considerable time and effort comparing the products that different stores offer. Which type of decision-making process is she using
In the given scenario where Emily is buying furniture for her apartment for the first time. She is spending considerable time and effort comparing the products that different stores offer. She is using extended decision-making.
Extended decision-making occurs when a customer takes an excessive amount of time before making a purchase, weighs several options, researches those products to determine their quality, invests a significant amount of time, and then makes the purchase.
There are undoubtedly many elements that influence consumers to purchase particular products.
Depending on how products and services are manufactured and marketed, consumers are motivated to buy them.
However, a marketing expert must consider exactly what is going through the buyer's head as they are making a purchase.
Extended decision-making happens when a customer wants to acquire very expensive goods or goods that demand a lot of consumer input.
In such circumstances, a customer wants to receive extraordinary benefits from the vendor and ensure that the purchase is advantageous.
Hence, if Emily is buying furniture for her apartment for the first time. She is spending considerable time and effort comparing the products that different stores offer. Extended decision-making is the process she is using.
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According to the book, the individual small business owner must be aware of his own _________ and establish the business in a manner that is consistent with that _________.
Answer: tolerance of risk and tolerance
Explanation: Put tolerance of risk in the first blank, and tolerance in the second.
Dye Trucking raised $130 million in new debt and used this to buy back stock. After the recap, Dye's stock price is $6.50. If Dye had 60 million shares of stock before the recap, how many shares does it have after the recap
The number of shares does it have after the recap is 40,000,000 shares.
Number of shares
First step
Number of shares= Amount raised / stock price
Number of shares= 130,000,000 / 6.50
Number of shares= 20,00,000 shares
Second step
Number of shares= Number of shares before recap - Shares repurchased
Number of shares= 60,000,000 - 20,00,000
Number of share= 40,000,000 shares
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To promote a culture of safety and optimize risk management support to employees, the facility should track error reporting. What are two (2) types of events that should be tracked and reported under a facility's risk management programs
Optimize Risk Management is known to be as the risk which manage the risk actually through the Strategic Planning over a period of the time.
What is Opportunity Risk and Unexpected Risk ?The Opportunity Risk and the Unexpected Risk are considered as the two important events which should be actually tracked and reported under a facility risk managements programs.
Hence, the Opportunity Risk occurs have always Positive effect on achievement of the various project objectives over a period of the time and Unexpected Risk occurs whenever there is a better Opportunity is becoming available in the Management
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A traditional life insurance policy pays the beneficiaries of the policyholder at the time of ______ , whereas an endowment policy pays the insured if he or she is alive on the _______ date named in the policy.
A traditional life insurance policy pays the beneficiaries of the policyholder at the time of the policyholder's death, whereas an endowment policy pays the insured if he or she is alive on the future (maturity) date named in the policy.
There are two different types of life insurance policies that policyholders may opt for depending on the policyholder's needs and requirements at the time:
A traditional life insurance policy pays the beneficiaries of the policyholder at the time of the policyholder's death. An endowment policy pays the insured if he or she is alive on the future (maturity) date named in the policy.The maturity date specifies the time period in an endowment life insurance policy. An endowment policy is different from a life insurance policy in that it allows the policyholder to save regularly over a period of time as the period of endowment in the life insurance matures. The essential difference between a traditional life insurance policy and an endowment policy is that the former pays the beneficiaries at the death of the policyholder, while the latter pays the insured if the policyholder is alive on the maturity future date named in the policy.Therefore, a traditional life insurance policy pays the beneficiaries of the policyholder at the time of the policyholder's death, whereas an endowment policy pays the insured if he or she is alive on the future (maturity) date named in the policy.
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If a production quota is set lower than the equilibrium quantity, at the quota quantity, marginal benefit is ________ marginal cost and the quantity produced is allocative ________.
If a production quota is set lower than the equilibrium quantity, at the quota quantity, the marginal benefit is greater marginal cost and the quantity produced is allocative greater.
If marginal benefit exceeds marginal cost, resources use will be more efficient if the quantity is increased. If marginal cost exceeds marginal benefit, resource use will be more efficiently if the quantity is increased.
Allocative efficiency occurs where the collective sum of consumer and producer surplus is at a maximum. When the marginal benefits exceed the marginal costs of producing a product, then allocative efficiency is not achieved in the market.
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A soft peg exchange rate may create additional _______________ as exchange rate markets try to anticipate when and how the government will intervene.
A soft peg exchange rate may create additional volatility as exchange rate markets try to anticipate when and how the government will intervene.
What is an exchange rate?An exchange rate refers to the value of a country's currency in relation to another currency. This entails the rate at which a currency will be exchanged for another.
It is the value of one currency for the purpose of conversion to another.
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A system that allows managers to specify goals, measure progress, and provide performance feedback by ensuring that the incentives of shareholders and employees are aligned is called a ______ system.
Answer:
strategic control-and-reward
A system that allows managers to specify goals, measure progress, and provide performance feedback by ensuring that the incentives of shareholders and employees are aligned is called a strategic control-and-reward system.
What do you mean by Feedback?Feedback is constructive criticism or information that can be used to enhance a performance or other activity.
Software for performance management is intended to boost employee productivity and thereby increase business performance. It tries to make sure that each employee and team is motivated and supportive of organizational objectives. Real-time performance tracking, goal planning, and feedback replace the annual performance review procedure.
These systems accomplish a task that annual reviews are unable to. They give a company the flexibility to modify individual employee expectations and goals as circumstances alter. Annual assessments, in the opinion of critics, are overly preoccupied with the past and undervalue the demands that lie ahead.
Therefore, Strategic control-and-reward system is the correct answer.
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Internal Environmental Analysis
Exercise #3
One of the simplest Internal Environment tools used today is a Situational Analysis – known by many as a SWOT Analysis (Strengths, Weaknesses, Opportunities, & Threats). When doing a SWOT Analysis, it is extremely important to break down the variables by controllable and uncontrollable. Remember, controllable variables are strengths and weaknesses, while uncontrollable variables are opportunities and threats.
Below is an extensive list of many identifiable variables that a Marketing Manager might come about when doing a SWOT Analysis. Identify the variables as to which category within the SWOT Matrix that they would fit by listing the category along side it.
• Rising Sales of Substitute Products
• Too Narrow a Product Line
• Adequate Financial Resources
• Unable to Finance Needed Strategy Changes
• Ahead of the Experience Curve
• Complacency Among Rival Firms
• Falling Trade Barriers in Attractive Foreign Markets
• Proven Management Skills
• Falling Behind in R & D
• Vulnerability to Recession & Business Cycle
• Poor Track Record in Implementing Strategy
• Diversify into Related Products
• Enter New Markets or Segments
• Issues Costly Regulatory Requirements
• Higher Overall Unit Costs than Competitors
• Proprietary Technology
• Vertical Integration
• Product Innovation Skills
• Well Thought of by Buyers
• Serve Additional Customer Groups
The analysis that you have been asked to examine is called SWOT Analysis. See the categorization below.
What is SWOT Analysis?This is simply a situational analysis that considers the strengths, weaknesses, opportunities, and threats that a company might face in the execution of its business strategy.
,
Strength
• Adequate Financial Resources
• Proven Management Skills
• Ahead of the Experience Curve
• Diversify into Related Products
• Enter New Markets or Segments
• Proprietary Technology
• Vertical Integration
• Product Innovation Skills
• Well Thought of by Buyers
Weaknesses
• Too Narrow a Product Line
• Unable to Finance Needed Strategy Changes
• Falling Behind in R & D
• Vulnerability to Recession & Business Cycle
• Poor Track Record in Implementing Strategy
• Higher Overall Unit Costs than Competitors
Opportunities
• Complacency Among Rival Firms
• Falling Trade Barriers in Attractive Foreign Markets
• Serve Additional Customer Groups
Threats
• Rising Sales of Substitute Products
• Issues Costly Regulatory Requirements
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Frank is the fresh produce supplier to Green Valley, an upscale restaurant. He provides the restaurant with imported meat for which he is paid $1,500 per day. One day, Frank fails to deliver the meat due to personal reasons. This causes the restaurant to order from a neighboring city for $2,500. The delay in shipment results in a foreseeable loss of $1,500 in revenue for Green Valley. If Green Valley decides to sue Frank for damages, the court is most likely to award Green Valley with damages in the amount of ________. Group of answer choices $2,500 $1,000 $5,500 $8,000 $4,000
If Green Valley decides to sue Frank for damages, the court is most likely to award Green Valley with damages in the amount of $2,500.
What is Supplier?
In business, a supplier is a person or an entity who delivers top-notch services and goods from manufacturers at reasonable costs to retailers or distributors for sale. They provide deliverables in the form of raw materials, which the manufacturers later process into market-ready end products.
What are suppliers used for?A supplier is a person or business that provides a product or service to another entity. The role of a supplier in a business is to provide high-quality products from a manufacturer at a good price to a distributor or retailer for resale.
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Which Internet service allows users to send and receive short text messages in real time?
Answer:
Yes, the answer is SMS ( short message service)
Hope this helps you.
The Internet service that allows users to send and receive short text messages in real-time is called "Instant Messaging" (IM).
Instant Messaging (IM) is an Internet service that enables users to send and receive short text messages in real-time. It allows for instant communication between individuals or groups over the Internet, making it a convenient and efficient means of staying in touch.
With popular platforms like What/sApp, Face/book Messenger, iMessage, Telegram, and Go/ogle Hangouts, users can engage in seamless conversations, share multimedia content, and even participate in group chats, fostering quick and direct interactions from anywhere in the world. IM has become an integral part of modern communication, facilitating rapid exchange of information and fostering social connections online.
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