In the Brainstorming decision-making process, everyone can say they have been heard and will support the final decision.
What is Brainstorming?Through the use of a list of ideas that members of the group voluntarily submit, brainstorming is a strategy for fostering collective creativity that aims to solve a particular problem.In other words, brainstorming is a circumstance where a group of people gathers to produce fresh concepts and solutions for a certain area of interest while letting go of inhibitions. People have more mental freedom and offer as many original, unplanned ideas as they can. Following the brainstorming session, all of the ideas are recorded without any criticism.Each person in a circle writes down one idea, gives the piece of paper to the next person, who adds some further ideas, and so on.To learn more about Brainstorming refer to:
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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 A) perfectly competitive. B) monopolist
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 monopoly compare to pure competition has ____________ forces of increasing and diminishing returns to determine cost relationships. A monopoly compare to pure competition has ____________ forces of increasing and diminishing returns to determine cost relationships.
A monopoly compare to pure competition has the same forces of increasing and diminishing returns to determine cost relationships.
What is Monopolistic Competition?Monopolistic competition is defined as a structure of a common market were organizations have different competitors, but they sell different types of product in the market.
Different kind of small businesses work under the state of monopolistic competition, which includes operated high-street stores, restaurants. and independently owned. for restaurants, each one has an element of uniqueness, and offers something that is not the same, but all are necessarily competing for the same customers.
Monopolistic competition can also be called a competition that is imperfect in a way that, different producers sell products that are different from one another.
What is Pure Competition ?Pure competition is a market structure that involves different manufacturers providing customers with similar products. A large number of homogenous goods, many sellers that can easily enter the market, and customers who have full information about the companies and their products create a perfect environment for this market model.
In conclusion, A monopoly has the same factors of increasing and diminishing returns that determine cost relationships as pure competition.
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Which statement below best answers the economic question "How to produce"?
An artisan crafts wooden figurines, toys, and games.
An artisan sells their products at art shows, online, and by word of mouth.
An artisan uses local wood from a sustainable tree farm to make products.
An artist sells their products for prices ranging between $20 and $500.
Answer: An artisan uses local wood from a sustainable tree farm to make products.
Explanation:
Answer:
An artisan uses local wood from a sustainable tree farm to make products.
Explanation:
I took the test and got it right :)
A concentration ratio measures the Group of answer choices None of the Answers are Correct. Dollar value of total industry output produced by the largest firms. Proportion of industry output produced by all firms. Proportion of industry output produced by the largest firms. Dollar value of total industry output produced by all firms.
A concentration ratio measures the (D) proportion of industry output produced by the largest firms.
What is a concentration ratio?Concentration ratios are used in economics to quantify market concentration and are based on a company's market share in a certain industry. Market share can be defined as a company's proportion of total sales in industry, its market capitalization as a percentage of total industry market capitalization, or any other statistic that represents a company's size and dominance relative to its competitors. A concentration ratio (CR) is the sum of the percentage market shares of (a certain number of) an industry's largest firms. An n-firm concentration ratio is a standard metric of market structure that displays the combined market share of the market's n greatest firms.What does a concentration ratio measure?Concentration ratios calculate the percentage of total sales accounted for by the industry's four largest firms.As is shown above that a concentration ratio calculates the percentage of total sales accounted for by the industry's four largest firms.
Therefore, a concentration ratio measures the (D) proportion of industry output produced by the largest firms.
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Correct answer:
A concentration ratio measures the:
A. Proportion of industry output produced by all firms.
B. Dollar value of total industry output produced by the largest firms.
C. Dollar value of total industry output produced by all firms.
D. Proportion of industry output produced by the largest firms.
E. None of the options are correct.
A concentration ratio measures the Proportion of industry output produced by the largest firms.
In economics, a concentration ratio refers to the ratio of the market shares of a particular company in relation to the entire market size. This ratio also measures the size of a company or firm in comparison to the size of the whole market.
The concentration ratio compares the size of firms in relation to their industry as a whole.
Low concentration ratio indicates greater competition in an industry, compared to one with a ratio nearing 100%, which would be a monopoly.
An oligopoly is apparent when the top five firms in the market account for more than 60% of total market sales, according to the concentration ratio.
Hence, The four-firm concentration ratio is the proportion of total output produced by the four largest firms in the industry and the eight-firm concentration ratio is proportion of total output produced by the eight largest firms in the industry.
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2. The components of marginal revenue
Yakov's Fire Engines is the sole seller of fire engines in the fictional country of Pyrotania. Initially, Yakov produced eight fire engines, but he has decided to increase production to nine fire engines. The following graph shows the demand curve Yakov faces. As you can see, to sell the additional engine, Yakov must lower his price from $80,000 to $60,000 per fire engine. Note that while Yakov gains revenue from the additional engine he sells, he also loses revenue from the initial eight engines because he sells them all at the lower price.
Use the purple rectangle (diamond symbols) to shade the area representing the revenue lost from the initial eight engines by selling at $60,000 rather than $80,000. Then use the green rectangle (triangle symbols) to shade the area representing the revenue gained from selling an additional engine at $60,000.
The information given regarding the marginal revenue is illustrated below.
How to illustrate the information?Marginal revenue is the increase in revenue that results from the sale of one additional unit of output.
While marginal revenue can remain constant over a certain level of output, it follows from the law of diminishing returns and will slow down when the output level increases.
Here, the price effect dominates the quantity effect so he cannot increase the production from 7 units to 8 units.
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Surveys should be worded so that participants will?
Surveys should have a word organization such that participants can:
respond accurately to each question within a few secondsread each question in 10 to 20 secondsHow should surveys be worded?Surveys should be worded such that the participant understands what is being asked of them and so respond accurately.
The questions should also be brief and concise to allow for them to be read in 10 to 20 seconds.
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The structured, measured set of activities designed to produce a specific output for a particular customer or market best defines: A. primary processes. B. production systems. C. formal systems. D. secondary activities. E. key business processes.
The structured, measured set of activities designed to produce a specific output for a particular customer or market best defines a key business process.
What is a key business process?The operations that are most important to your company's customers, employees, and bottom line are considered key business processes.By definition, a process or workflow is a series of recurring actions that a person or group of people must carry out in order for a business to function, accomplish objectives, and maintain a level of production. They are an essential component of the business setup and serve as the foundation for a successful operation.SOP is the end product of business process design. The ultimate result is standard operating procedures, which are the reference manuals used by personnel to make sure they can work independently on jobs and are aware of what they are doing at each stage.To learn more about Key business processes refer to:
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A corporation created under the authority of a foreign country may be called a(n) __________. Multiple Choice distant corporation alien corporation external corporation offshore corporation imported corporation
Answer:
Alien corporation.
What measures the market value of all final goods and services produced within a country in a given time period
GDP measures the market value of all final goods and services produced within a country in a given time period.
Gross National Product (GNP) is a measure of the value of all goods and services produced by a country's residents and businesses. It estimates the value of final products and services produced by the people of the country, regardless of where they are produced.
GDP measures the monetary value of final goods and services produced in a country during a specific time period (for example, quarter or year), that is, those purchased by the end consumer. It counts all the electricity generated within the boundaries of the country.
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Veronica works in the purchasing department for Medical Center Hospital. She buys gloves, masks, and protective gear from Johnson Hospital Supply. Every month Veronica contacts Johnson Supply and places the order. She has used Johnson Supply for years and sees no reason to consider other companies. Veronica is a(n) _______. a. producer b. supplier c. satisficer d. optimizer
C. Satisficer
What is a satisficer?A decision-making method called satisficing aims for a satisfactory or adequate outcome rather than the best one. Satisficing concentrates on practical effort when faced with tasks rather than exerting maximal effort to achieve the ideal result. This is due to the possibility that pursuing the ideal outcome will result in an unnecessary drain on time, effort, and resources. In order to achieve the first feasible solution that yields minimally acceptable results, the satisficing strategy can involve taking a minimalistic approach. Satisficing reduces the range of options that are taken into account to obtain those objectives, eliminating alternatives that would necessitate more demanding, complicated, or impractical efforts in an effort to produce more ideal outcomes.
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A governmental fund Statement of Revenues, Expenditures, and Changes in Fund Balances reported of $30 million, including capital outlay expenditures of $9 million. Capital assets for that government cost $90 million, including land of $10 million. Depreciable assets are amortized over 20 years, on average. The reconciliation from governmental changes in fund balances to governmental activities changes in would reflect a(an):
The reconciliation from governmental changes in fund balances to governmental activities changes in would reflect a Increase of $5 million.
What are the 5 governmental funds?General, special revenue, capital projects, debt service, and permanent funds are the five categories into which the government divides its funds.What is a fund and how is it used in governmental accounting?A fund is an accounting entity having a self-balancing set of accounts used to record financial resources and liabilities as well as operating operations and which is segregated in order to conduct particular activities or meet specific objectives.
According to the question:
Depreciation expense = (90m-10m)/20.
= $4 millions.
= 9 million - 4million.
= Increase of $5 million.
Hence, Reconciliation from governmental changes in fund balances to governmental activities changes in net assets would reflect an (an) increase of $5 million.
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A manufacturer has entered into a contract with a third party to perform services related to processing orders, managing inventory levels, and shipping products to customers. The company is engaged in
A manufacturer has entered into a contract with a third party to perform services related to processing orders, managing inventory levels, and shipping products to customers. The company is engaged in outsourcing.
Advertising, office and warehouse cleaning and website development are the best examples of outsourcing. Most business owners delegate authority to outsourced specialists when it comes to bookkeeping, maintenance, and recruitment. This helps enterprises to focus most of their resources on the main activity.
Outsourcing is the business practice of hiring a party outside a company to perform services or create goods that were traditionally performed in-house by the company's own employees and staff. Outsourcing is a practice usually undertaken by companies as a cost-cutting measure.
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A manufacturing process requires small amounts of glue. The glue used in the production process is classified as a(n) indirect material. period cost. miscellaneous expense. direct material.
A manufacturing process requires small amounts of glue in production process is classified as indirect material.
What is indirect material?Indirect materials are those materials that are not readily traceable or identified with a job.
It is to be noted that indirect materials forms part of production processes whereas are not included in final product.
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A foreign currency ________ gives the purchaser the right, not the obligation, to buy a given amount of foreign exchange at a fixed price per unit for a specified period.
The answer is Option.
An option contract is an agreement between two parties to facilitate a potential transaction involving an asset at a preset price and date.
An options contract offers the buyer the opportunity to buy or sell, depending on the type of contract they hold. If the contract states buying it will be the Call option. On the other hand, if the contract states selling it will become a Put option.
Buying an option offers the right, but not the obligation, to purchase or sell the underlying asset.
Hence, A foreign currency Option gives the purchaser the right, not the obligation, to buy a given amount of foreign exchange at a fixed price per unit for a specified period.
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Union members earn_____________________ than non-union members, even after adjusting for factors such as_____________________. about 10% more; racial discrimination and immigration. about the same; union dues and cost of lawyers for collective bargaining. about 20% more; years of work experience and education level. about 30% more; healthcare and retirement benefits.
Union members earn "about 20% more" than non-union members, even after adjusting for factors such as "years of work experience and education level.".
Who are Union and Non-Union members?Workers who band together and use their collective power to have a say in the workplace create a union.
Labour union members can bargain with employers about pay, benefits, workplace health and safety, job training, and other work-related problems from a position of power through their union.
Employee involvement in corporate decision-making through representative organisations is known as non-union employee representation.
The reasons for union workers paid more are-
Employees that are more productive get paid more - Unions assert that they may bargain for greater salaries for workers. In truth, higher pay rates result from employers in unionised organisations being more selective in the hiring process since they must find individuals who can produce more and do so with higher standards.To know more about the roles of labour union, here
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An indirect measure of risk that tells us how much a firm earned for each dollar invested by its owners is called
An indirect measure of risk that tells us how much a firm earned for each dollar invested by its owners is called Return on Equity.
What is Return on Equity?Return on equity is what shows how performing company is generating returns on the investment it received from its shareholders.
In other words, it is a measure of the profitability of a business as it relates to capital invested in the business.
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Can I Plss get some help on this
The reason the government monitors the size of the money supply is so that they can maintain stability and limit inflation.
Why should money supply be monitored?Money supply impacts the level of inflation in a country and therefore the stability of the nation as inflation is tied to economic stability.
The government would therefore try to maintain a level of money supply that leads to an inflation rate that is not too high or low, but will contribute to economic growth.
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On an indirect method statement of cash flows, a gain on the sale of plant assets is?
Deducted from net income in the operating activities section is the correct answer.
Under the Indirect method of cash flow statement, The companies must adjust net income to convert certain items to a cash basis.
The reconciliation starts with net income and converts it to net cash provided/ used by operating activities.
Net Income + Non-cash expenses + Loss on the sale of plant assets - Gain on the sale of plant assets - Increase in current asset account + Decrease in current asset account + Increase in current liability account - Decrease in a current liability account.
In this question, If a gain on the sale of plant assets occurs, The company deducts the gain from net income to determine the net cash provided by operating activities.
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One of the basic ways in which services differ from tangible goods is that the service and the deliverer of it are Blank______ from each other.
One of the basic ways in which services differ from tangible goods is that the service and the deliverer of it are Blank separable from each other.
Any item that can be touched, moved, observed, weighed, measured, or picked up qualifies as a tangible good. Examples of tangible things include cars, printed books, clothing, tools, flowers, furniture, and DVDs, to name just a few.Products that can be seen, touched, and felt are referred to as tangible things. Solutions that give advantages like ease, efficiency, or knowledge but no physical goods are known as intangible products or services.In contrast to products, which we can physically touch or handle, services are the non-physical, intangible components of our economy. The majority of the economies of the wealthy countries are based on services like banking, education, healthcare, and transportation. They also represent the bulk of the economies of the developing countries.Thus this is the answer.
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A department head deciding which project requests to submit is an example of: A. a preliminary investigation of the system problem or opportunity. B. requirements determination. C. identifying potential development projects. D. generating alternative initial designs. E. requirements structuring.
A department head deciding which project requests to submit is an example of: Identifying potential development projects.
A key member of top management, such as the CEO of a small or medium-sized business or a senior executive in a bigger firm, can carry out this process. A steering group made up of a variety of managers having a system interest.The modern enterprise as a whole is the scope of information systems. No matter where the information is located, managers, knowledge workers, and all other organizational members want to be able to quickly access and retrieve it.Cooperative, integrated enterprise systems that can readily facilitate information sharing are replacing the non-integrated systems utilized in the past (which created information islands).Building bridges between these islands is the obvious direction for information system development.Both corporate and information system management face substantial obstacles in achieving integrated enterprise-wide computing.So, this is the answer.
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During its most recent fiscal year, Dover, Inc. had total sales of $3,160,000. Contribution margin amounted to $1,480,000 and pretax income was $370,000. What amount should have been reported as variable costs in the company's contribution margin income statement for the year
The company's contribution margin income statement for the year $1,105,000.
Contribution margin income
A contribution margin income statement is an income statement in which all variable expenses are deducted from sales to arrive at a contribution margin. Then, all fixed expenses are subtracted to arrive at the net profit or net loss for the period.
How do you calculate contribution margin income?
Calculate the operating income by subtracting your total fixed costs from the contribution margin, as they both appear on the contribution income statement. For example, if you have a contribution margin of $30,000 and fixed costs of $5,000, then you would have an operating income of $25,000.
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Examples of barriers to entry include Group of answer choices Price taking. Patents. None of the Answers are Correct. Standardized products. Economic profits.
Examples of barriers to entry include Patents.
What Are Barriers to Entry?A term used in economics and business to describe variables that can deter or make it difficult for newcomers to enter a market or industry sector and so limit competition is "barriers to entry." These might include prohibitive startup fees, bureaucratic roadblocks, or other barriers that make it difficult for new rivals to enter a market. Existing businesses win from entrance barriers because they preserve their market share and capacity to make money.
There are four main types of barriers to entry:
legal (patents/licenses), technical (high start-up costs/monopoly/technical knowledge), strategic (predatory pricing/first mover), brand loyalty.Most people think of patents as temporary entry barriers put in place by the government. Patent protection, however, typically restricts access rather than blocking it. A business may enter a market that is protected as long as its product complies with a minimum standard of novelty and does not violate any active patents.
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The part of disposable income not spent on current consumption (disposable income minus consumption) is called Group of answer choices saving marginal prosperity investment demand-pull inflation
The part of disposable income not spent on current consumption (disposable income minus consumption) is called savings.
Total personal income less current income taxes equals disposable income. Personal income less personal current taxes is referred to as disposable personal income in national accounts terminology.
An account in a retail bank is a savings account. Common characteristics include having a finite number of withdrawals allowed, not having check or connected debit card facilities, having few transfer choices, and not being able to become overdrawn.
Regular deposit, money market, and CDs are the three most popular forms of savings accounts. Regarding accessibility and level of interest, each one functions slightly differently. In addition to these accounts, there are other ways to save money.
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Problems determining authority and responsibility, poor response time, and poor integration are disadvantages of: Group of answer choices The Informal Organization The Formal Organization The Matrix Organization The Project Organization The Functional Organization
Problems determining authority and responsibility, poor response time, and poor integration are disadvantages of The Functional Organization.
The Functional Organization is a type of organizational system which operates according to the principle of specialization in role and function.
In project management, many types of organizations exist and are chosen. The Functional Organization works by division into departments and sub-sections where the role and function of the specific department stand defined and stipulated. A functional manager has a group of employees working under their supervision and authority. Problems determining authority and responsibility, poor response time, and poor integration are more than likely and entirely possible to arise in this organizational system.Therefore, problems determining authority and responsibility, poor response time, and poor integration are disadvantages of The Functional Organization.
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Which of the following can effectively minimize escalation of commitment? Group of answer choices Organizational goals are relatively ambiguous. The team leader has strong opinions about the preferred options for a problem. There are ready-made alternatives to resolve all problems. Those who make the decision are different from those who implement and evaluate it.
Escalation of commitment can be effectively minimized by ensuring that:
those who make the decision are different from those who implement and evaluate it.
What is the Escalation of Commitment?Commitment bias, also known as the escalation of commitment, describes our tendency to remain committed to our past behaviors, particularly those exhibited publicly, even if they do not have desirable outcomes.
Caused by unpleasant tension between belief in initial decision and negative feedback. To reduce tension, we increase our commitment to decision and rationalize current negative outcome by expecting future investment to yield eventual success.
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Correcting a market with an externality through taxation is _________ correcting it through a set output target from command and control. Group of answer choices less efficient than as efficient as either more or less depending on the elasticity of demand more efficient than
Correcting a market with an externality through taxation is (A) less effective than correcting it through a set output target from command and control.
Correcting a market with taxation:The government can discourage the consumption of harmful products by raising taxes on them. Cigarette and alcohol taxes, for example, are raised on a regular basis to discourage their consumption and limit their adverse impacts on unconnected third parties.Command and control strategies:Command and control is a sort of environmental regulation that allows policymakers to expressly regulate both the amount and the procedure by which a company should maintain environmental quality.Correcting marketing is more effective than correcting manufacturing through taxation.Reason -As it is stated above Correcting marketing is more effective than correcting manufacturing through taxation.
Therefore, Correcting a market with an externality through taxation is (A) less effective than correcting it through a set output target from command and control.
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Correct question:
Correcting a market with an externality through taxation is _________ correcting it through a set output target from command and control.
Group of answer choices
A. less efficient than
B. as efficient as
C. either more or less depending on the elasticity of demand
D. more efficient than
A variable is a data characteristic that stands for a value that changes or varies over Blank______. Multiple choice question. business process time
Data characteristics that represent a value that shifts or changes over time.
What makes a characteristic of data?Data quality features make sure you get the most out of your information in the commercial world of today. Your information is not valuable if it doesn't adhere to these guidelines. To increase your data's accuracy, completeness, dependability, relevance, and timeliness, Precisely offers data quality solutions.
What six properties do data have?Accuracy.
Validity.
Reliability.
Timeliness.
Relevance.
Completeness.
What qualifies as a variable data characteristic?The value of the variable's data type, which describes the sort of data a variable represents—such as a number, string, or date—is important to understand. The variable's range, which describes where the data is accessible and how long the variable lasts.
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Product differentiation Group of answer choices Involves charging different prices to different customers. Is a rarely successful advertising campaign. Involves advertising unique product features. Is commonly practiced in perfect competition and monopoly markets. None of the Answers are Correct.
Product differentiation (C) involves advertising unique product features.
What is product differentiation?Product differentiation is a marketing approach used to differentiate a company's products or services from those of its competitors. Successful product differentiation is recognizing and presenting a product's or firm's unique qualities while emphasizing the various differences between that product or company and its competitors. Product differentiation is synonymous with building a compelling value proposition in order to make a product or service appealing to a target market or audience.When a corporation promotes a feature of a new product to market that distinguishes it from others already on the market, this is an example of product differentiation. Tesla, for example, distinguishes itself from other automakers by producing vehicles that are unique, high-end, and battery-powered.As the definition above itself states, successful product differentiation is recognizing and presenting a product's or firm's unique qualities while emphasizing the various differences between that product or company and its competitors.
Therefore, product differentiation (C) involves advertising unique product features.
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Correct question:
Product differentiation is:
a. involves charging different prices to different customers
b. is commonly practiced in perfect competition and monopoly markets
c. involves advertising unique product features
d. is a rarely successful advertising campaign
When the grocery store orders a large shipment of chocolate candy just before Valentine's Day, this type of inventory is typically called:
When the grocery store orders a large shipment of chocolate candy just before Valentine's Day, this type of inventory is typically called Anticipatory inventory.
What is Anticipatory inventory?Anticipatory inventory is the stock that is continued to accord to the normal buyer interest. It is very like wellbeing stock however it contrasts as in this stock is generally kept occasionally when the interest for items can shift enormously.This inventory enables a company to adapt to changes in customer demand.It enables the company to constantly provide customer service.When demand fluctuates, it enables the company to grow its operations.This inventory type may resemble safety stock quite a bit. It varies from safety stock, though, in that it is kept on hand by the business to handle demand swings. This change reflects the anticipation of rising demand in the near future.If a scarcity or price increase is anticipated soon, businesses might store more inventory.
Hence, this kind of inventory is frequently referred to as anticipatory inventory, such as when the grocery store orders a huge supply of chocolate candies right before Valentine's Day.
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With imperfect conditions on the product side of the market, the MRP drops more quickly from a higher level of output and results in ___________ workers being hired than if the product market were perfect competition. With imperfect conditions on the product side of the market, the MRP drops more quickly from a higher level of output and results in ___________ workers being hired than if the product market were perfect competition.
The MRP drops more quickly from a higher level of output and results in Fewer workers being hired than if the product market were perfect competition.
What is Labor Economics?The study of the work force as a component of the production process is known as labor economics. All people who work for pay in the labor market, whether as employees, employers, or self-employed people, as well as those who are jobless but looking for work, are considered to be part of the labor force. In the field of labor economics, everything that has an impact on workers before, during, and after their working lives is studied. This includes childcare, education, pay and incentives, fertility, discrimination, their non-work time, and pension reforms. Labor markets can be geographically constrained within nations or regions or they can be worldwide. They function through the interaction of employees and employers. The mobility of workers inside and across these markets, as well as within and between their employers, is another focus of labor economics.Know more about Labor Economics with the help of the given Link:
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