On the following quality aspects, the Dittenhoefers compete: Performance, Reliability, Durability, Aesthetics, Perceptions.
Performance -Every firm competes on its capacity to provide outcomes.Dittenhoefer's performance has been inadequate ever since the
advent of the new polymer-coating machinery.
Service to Customers-
By failing to keep up with performance, customer service isn't
helping the problem.
They are not promptly giving their clients the information they
require, and they are not monitoring their orders to make sure their
clients are happy.
Reliability: Before they began using the new polymer-coatingequipment, the organization had a stellar reputation for
dependability. More errors are now being shipped with the goods.
Customer service – They are disappointing their clients by having all
of these problems.
Orders are lost due to wrong pricing.
A change in the delivery date was not communicated to the
customers.
Durability: The new goods' durability hasn't raised many, if any,questions. As long as the product continues to be enjoyable,
durability won't be a problem.
Customer service – Their longevity has nothing to do with the client
service they provide.
Aesthetics: Aesthetics is the study of beauty, or the way things look.The new machine has added problems, yet aesthetics have been
preserved despite this. For Dittenhoefer's Fine China, this is
perhaps one of the most important factors. The firm bought the new
machinery so they could expand their current range of goods to
include a new aesthetic product.
Customer service –
Customer service has little discernible influence, good or bad, on
how appealing a product is to consumers.
Perception- Every company's perception is highly important.The way people view a firm may make or ruin it.
even when the product itself is top-notch.
The company has a good reputation, but if product problems
continue, it might lose some of it.
Customer service – Regardless of how wonderful a product is, it will
start to have a bad reputation if the customer service is poor.
People will start to associate the quality of the product with the
degree of service they get.
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suppose that belham company's fixed administrative costs increased to $50,000. what is the new break-even point in units? fill in the blank 1 of 1$ how many units must be sold to earn operating income of $14,300? fill in the blank 1 of 1$
if the fixed administrative expenditures for the Belham Company rose to $50,000. [tex]\frac{1}{37500}[/tex]represents the updated break-even point in units.
Fixed costs: costs like rent that are unrelated to sales volume, that $1
Variable costs: costs like the cost of producing the goods that are based on a sales volume of $14,300
The item has a retail price.
Breakeven Point in Units defines as,
= [tex]\frac{Fixed Costs}{(Price - Variable Costs) }[/tex]
The entire fixed costs divided by the difference between the unit price and variable costs yield the breakeven threshold, in other words. It should be noted that in this method, price and variable costs are expressed as per-unit expenses, or the cost of each sold unit of a product, while fixed costs are expressed as the firm's total overhead.
∴ [tex]\frac{1}{50,000-14,300}[/tex]
= [tex]\frac{1}{37500}[/tex]
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marketing researchers take great care in developing research questions that measure attitudes, beliefs, behaviors, and demographics because they desire positive research outcomes. true false
This is because Marketing research serves marketing management by providing information which is relevant to decision making.
What is marketing research?
Marketing research is the process of interviewing prospective customers directly to ascertain the viability of a new service or product.
Information that is pertinent to decision-making is provided by marketing research, which benefits marketing management.
Marketing research neither determines the course of action nor ensures success. Instead, market research assists in lowering the level of confusion surrounding the decision to be made.
In simple words Marketing research is the systematic and objective search for, and analysis of, information relevant to the identification and solution of any problem in the field of marketing.
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xyz is a publicly traded company and its stock has been doing well for the last several years. xyz is planning to expand into new markets and would like to raise additional capital to finance this expansion. how may this be done?
This can be done if XYZ is planning in setting up a new manufacturing plant and raising money through Shares.
The practise of obtaining money through the selling of shares is known as equity financing. Companies raise money because they can need it to pay expenses in the short term or because they have a long-term objective and need money to invest in their expansion.How can shares be sold to raise money?
purchasing shares A mature corporation can also raise money by selling shares in their business. For a certain sum, an investor can purchase firm shares, thus giving them ownership in the business. As the business expands, this enables investors to share in the profits.To learn more about Equity financing, click the links
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tell me about a time you had to work with a large amount of information or data and determine a recommendation or course of action. what was the situation, your approach/process, and outcome?
A time we had to work with a large amount of information or data and determine a recommendation or course of action when we have identify potential drilling locations and monitor pipeline operations.
How do large amounts of information work?
1. Eliminate distractions at the start of the process for learning a lot of knowledge in a systematic way.
2. Make sloppy handwritten notes to record important thoughts.
3. Convert sloppy notes into sloppy mental maps.
4. After 24 hours, let the mind map(s) rest before reviewing.
5. A set of flash cards should be made.
6. Recovery drills.
What are the approaches/process to work with a large amount of information?
Three Ingenious Ways to Approach Big Data Effectively
1. Set a goal for yourself.
2. Make the most of the data you already have.
3. Outsource the organization and analysis.
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when a manufacturer asks a business to collect information from customers concerning how to improve a product, which type of utility is most likely to be affected?
When a manufacturer asks a business to collect information from customers concerning how to improve a product, D. form is the utility that is most likely to be affected.
In the field of business, a form of utility can be described as the form of the products that you supply.
If you collect information from customers on how to improve a product then you will be making changes to the form of the product based on the advice of improvement given by the customers.
Form utility can be described as the value that a product receives from a consumer. It described how a product is formed in order to meet the need of the customers.
Although a part of your question is missing, you might be referring to this question:
When a manufacturer asks a business to collect information from customers concerning how to improve a product, which type of utility is most likely to be affected?
A. Possession
B. Place
C. Time
D. Form
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answer the question on the basis of the following total utility data for products l and m. assume that the prices of l and m are $3 and $4, respectively, and that the consumer's income is $25 units of l total utility units of m total utility 1 9 1 16 2 15 2 28 3 18 3 36 4 20 4 40 5 21 5 42 what level of total utility does the rational consumer realize in equilibrium?
A situation in which opposing forces are acting in balance or at rest. equitable distribution of all forces, effects, etc.; equal impact. emotional or mental equilibrium; equanimity: She lost it under the burden of the circumstances.
Explain about the equilibrium?The Latin term libra, which meaning weight or balance, is the origin of the word equilibrium. Several instances of equilibrium include: a book that is open and at rest. a vehicle that is going steadily. a chemical process where both the forward and backward rates of reaction are equal.
Equilibrium is essential for a market to be both efficient and balanced. A market cannot move away from its equilibrium price and quantity since it is maintaining a balance between the quantities provided and demanded.
All buyers and sellers are pleased once the market reaches equilibrium, and there is no longer any upward or downward pressure on the price.
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Swathmore clothing corporation grants its customers 30 days’ credit. The company uses the allowance method for its uncollectible accounts receivable. During the year, a monthly bad debt accrual is made by multiplying 2% times the amount of credit sales for the month. At the fiscal year-end of december 31, an aging of accounts receivable schedule is prepared and the allowance for uncollectible accounts is adjusted accordingly.
Bad Debt Expense for 2018 is 85,080. In 2018 journal Account Receivable(net) would appear as 587,920.
The journal entry is as follows-
Bad debt expense 80,400
Allowance for uncollectible accounts 80,400
Allowance for uncollectible accounts 45,000
Accounts receivable 45,00
2.
Bad debt expense 4,680
Allowance for uncollectible accounts 4,680
3a.
Bad Debt Expense for 2018 = 85,080
3b. In 2018 journal-
Account Receivable(net) . 587,920
Here is the complete question-
At the end of 2017, accounts receivable were $586,000 and the allowance account had a credit balance of $50,000. Accounts receivable activity for 2018 was as follows:
Beginning balance $ 586,000
Credit sales 2,680,000
Collections (2,543,000 )
Write-offs (45,000 )
Ending balance $ 678,000
Summary
Age Group Amount Percent Uncollectible
0-60 days $ 400,000 4 %
61-90 days 95,000 15
91-120 days 55,000 25
Over 120 days 128,000 36
Total $ 678,000
Required:
1. Prepare a summary journal entry to record the monthly bad debt accrual and the write-offs during the year.
2. Prepare the necessary year-end adjusting entry for bad debt expense.
3-a. What is total bad debt expense for 2018?
3-b. How would accounts receivable appear in the 2018 balance sheet?
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surfshack corp. buys surfboards, wetsuits, and surf wax from rip to shreds, inc. for sale to consumers. what type of company is surfshack corp? multiple choice question. service business wholesale merchandiser retail merchandiser manufacturer
Buys surfboards, wetsuits, and surf wax from rip to shreds, inc. for sale to consumers. The type of company is surf shack corp is a retail merchandiser.
Merchandising is any practice that contributes to the sale of products to retail consumers. At the retail level, merchandising refers to the presentation of products that are sold in creative ways that induce customers to purchase more items or products.
Retail store clerks are responsible for ensuring that appropriate quantities of merchandise are available in stores and sold at appropriate prices. Clever planning, careful purchases, and smart advertising campaigns can increase your profits.
Merchandisers keep merchandise on retail shelves and present it appropriately to customers. They also track inventory levels, report problems and shortages to management, and clean up unwanted items for blatant violations of store decor.
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carrie bought a house five years ago for $120,000. at that time she borrowed $110,000 from her bank. the house is now worth $142,000. her pmi will automatically be dropped when her mortgage balance drops to:
The sum of all a person or company's assets, minus any obligations or liabilities, is their net worth.
What is the formula for net worth?
All assets are subtracted from all liabilities to determine net worth. Assets are things owned that have monetary value, while liabilities are things like loans, accounts payable (AP), and mortgages that use up resources.
Is a high net worth a sign of wealth?
Well, Americans believe that a person is considered wealthy if they have a net worth of $1.9 million, as stated in Schwab's 2021 Modern Wealth Survey (opens in new tab).Your net worth is the difference between your assets and liabilities.)
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what is the value of company x stock if the dividend next year will be $3 and is expected to grow at a rate of 4% forever if your required return is 10.42%
The value of company x stock is USD 46.73
How do stocks work?A sort of security known as a stock represents a small portion of ownership in a company. When you purchase shares of a firm, you gain a fractional ownership stake in it. Investors invest in shares they believe will go up in value. In a case like this, company's shares value also rises. After then, the stock can be sold at a gain.
Nasdaq or the New York Stock Exchange are stock market exchange where publicly traded corporations sell their stock.
Stock investment helps the investors to grow their money over a period of time and also outpace inflation.
Shares can be purchased and sold by investors through stockbrokers. The supply as well as demand of every company's shares are looked by the stock exchanges directly impacting the price of the stock.
To solve the question :
D= 3
g= 4
r= 10.42
3/(.1042-.04)= 46.73
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what is a purchase return?multiple choice question.a purchase return is the cash discount given for early payment of an invoice.a purchase return is designed to shorten the payment period between the buyer and the seller.a purchase return refers to merchandise a seller acquires, but then returns to the buyer.a purchase return refers to merchandise a buyer purchases, but then returns to the seller.
A purchase return is when a buyer (either a business or an individual) returns goods that they bought to the seller for a refund or store credit, depending on the seller's policy.
Sales are sports-related to promoting or the range of goods sold in a given centered term. The shipping of a provider for a cost is also taken into consideration as a sale. The seller, or the company of the goods or offerings, completes a sale in response to an acquisition, appropriation, requisition, or direct interaction with the customer at the factor of sale. There's a passing of identifying (assets or possession) of the item, and the agreement of a fee, wherein settlement is reached on a rate for which a switch of ownership of the item will occur. The vendor, not the client, commonly executes the sale and it could be completed previous to the obligation of payment.
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leonard oil refiners inc. needs to borrow $1 million overnight and is willing to secure the loan with a portfolio of securities that the borrower will repurchase tomorrow at a higher price. this is an example of a(n):
Based on the fact that Leonard oil refiners inc. needs to borrow $1 million overnight and is willing to secure the loan with a portfolio of securities and the borrower will repurchase tomorrow at a higher price. this is an example of a repurchase agreement
What is a Repurchase Agreement?This refers to the type of agreement that is made between a dealer and investors and is a short-term borrowing usually in government securities that usually leads to repurchase the item at a higher price.
Hence, we can see that the given question is a perfect example of this repurchase agreement as the company, Leonard oil refiners inc. needs to borrow $1 million overnight and trades their securities.
With this in mind, the correct answer is a repurchase agreement
In conclusion, it can be seen that to secure the loan with a portfolio of securities that the borrower will repurchase tomorrow at a higher price. this is an example of a repurchase agreement
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cookies and cream has 41,000 shares outstanding at a market price of $90.38. what will the share price be if the company declares a stock dividend of 20 percent?
$75.32 The stock price is equal to the market price minus the stock dividend, or $90.38 minus 0.20, and the stock price is equal to $75.32.
What are Outstanding Shares?All of a company's stock, including share blocks held by institutional investors and restricted shares owned by the company's officers and insiders, is referred to as its "shares outstanding."On an organization's monetary record, exceptional offers are recorded under the heading "Capital Stock."
The company's market capitalization, earnings per share (EPS), and cash flow per share (CFPS) are all calculated using the number of outstanding shares. The number of outstanding shares in a company is not constant and may fluctuate greatly over time.
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a cereal manufacturer has different products for children and adults. it applies a different marketing strategy for each of these customer groups. which segmentation base is the company using to divide its market in this case? multiple choice lifestyle demographic psychographic geographic behavioral
Statistics that characterize populations and their traits are known as demographics. The study of a population based on characteristics like age, race, and sex is known as demographic analysis
Explain about the demographic?Businesses use demographics, or the socioeconomic features of a population, to determine the product preferences and purchase patterns of their customers. Companies can create a profile of their consumer base using the characteristics of their target market.
A few examples of demographic data include age, race, ethnicity, gender, marital status, income, education, and employment. Survey questions are an easy and effective way to collect this type of information.
Businesses use demographic data to have a better understanding of the characteristics of the consumers of their products and services. Based on their age, location, gender, employment status, income, and a host of other characteristics, demographics can help you pinpoint the individuals who are most drawn to your brand.
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an interest rate of 15% is used to evaluate a new system that has a first cost of $212,400, annual operating and maintenance costs of $41,200, annual savings of $94,600, a life of 6 years, and a salvage value of $32,500. the percentage error in the system's present worth from this is closest to what value?
The closest value to the percentage mistake in the system's current worth is 300%. Here, is the attached solution.
What is Cash flow?
The term "cash flow" describes the flow of funds into and out of your company on a monthly basis. It's one of the most reliable measures of the financial stability of your company. The income produced by customers, clients, and subscribers who buy your goods and services is included in your cash flow, as is the income produced by the collections made by your accounts receivable department. Cash flow also includes the money that your company spends on bills and other expenses. This could include, among other things, the cost of employee salaries, taxes, fees, and rent or mortgage payments for your business. Businesses should conceptualise its cash flow in a manner similar to how an individual might think of a bank account for personal use.To know more about Cash flow visit:
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a company using the periodic inventory system has the following account balances: inventory (beginning of the year), $3,874; freight-in, $608; purchases, $14,424; purchases returns and allowances, $2,521; purchases discounts, $250. the cost of merchandise purchased is
With initial purchase cost of $14,424, freight: $608, returns and allowances: $2,521 and discount: $250, the net cost of merchandise purchased is $12,261
Net cost of merchandise purchased = initial purchase cost + freight - returns and allowances - discount.
The inventory is not included in the calculation of the cost of goods purchased.
Data from the problem:
initial purchase cost = $14,424
freight-in = $608
return and allowances = $2,521
discount = $250
Hence,
Net cost of merchandise purchased =$14,424 + $608 - $2,521 - $250
Net cost of merchandise purchased =$12,261
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g externalities are: group of answer choices the result of government failure the difference between social and private costs (benefits) outside costs that producers absorb the effects of government on the private sector
People who are not directly involved in the transactions are frequently impacted by the consumption, manufacturing, and investment decisions made by individuals, households, and businesses.
These incidental impacts can occasionally be slight. However, when they are significant, or what economists refer to as externalities, they can cause issues.
The majority of externalities fall under the heading of "technical externalities," meaning that although their indirect effects have an impact on other people's opportunities for consumption and production, the price of the product does not account for them. As a result, there are variations in the costs or returns to the private sector and those to society as a whole.
The traditional example of a negative externality is pollution, when the polluter makes decisions based solely on the direct cost of production and the potential for profit, disregarding the indirect costs to those afflicted by the pollution. The indirect costs include lost chances for production, such as when tourism is negatively impacted by pollution, greater health care expenditures, and a diminished quality of life, as in the instance of a home owner who lives close to a smokestack. The social or total costs of production are higher than the private costs because the indirect costs are not incurred by the producer and are thus not passed on to the final consumer of the items produced by the polluter.
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if a firm with market power is not making enough profit (in equilibrium), a. it will lower price thereby increasing total revenue because demand is elastic. b. it will raise price thereby increasing total revenue because demand is inelastic. c. it will exit the industry in the long run if economic profit is negative. d. it will expand sales until it reaches the unit elastic point on demand.
If a firm with market power is not making enough profit (in equilibrium), .it will expand sales until it reaches the unit elastic point on demand.
Due to its dominant position in the market, the company is able to set either its output level or its price. When the demand elasticity is 1 (or "unit elastic"), any revenue loss brought on by a decline in demand will be made up for by an increase in price, and vice versa. As a result, profit will be as high as possible.
If economic profit is negative, the firm with market dominance will never be able to sustain a long-term profit.
The elasticity of Demand:
The quantity reaction to a change in price is what economists refer to as the elasticity of demand. The coefficient of elasticity is greater than 1 in the presence of elastic demand. The coefficient of elasticity is less than 1 if the demand is inelastic. When the coefficient is exactly equal to 1, this is referred to as unit elasticity.
Hence, Option D is the correct answer.
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should healthy hearts include the extinguishment of debt (i.e.,the notes) in its precombination financial statements or should cool care include it in its postcombination financial statements?
Financial statements are written records that convey the business activities and the financial performance of a company. Government organisations, accounting companies, etc. frequently audit financial statements to guarantee accuracy and for tax, financing, or investing purposes.
What is Financial statements ?Financial statements are official records of a person, business, or other entity's financial situation and actions. An easy-to-understand format is used to provide pertinent financial data in a systematic manner.
Financial statements are intended to give information about an enterprise's financial situation, performance, and changes in financial position that will be helpful to a variety of users in making financial decisions. Financial statements must to be comprehensible, pertinent, trustworthy, and similar. An organization's financial situation is directly correlated with its reported assets, liabilities, equity, income, and expenses.
Financial statements are meant to be understood by those who are willing to study the information carefully and who have a basic understanding of accounting, business, and economics.
Government financial statements may be recorded, measured, and presented according to different rules than those that apply to businesses and even non-profit organisations. They can choose between the two accounting techniques of accrual accounting and cost accounting, or they can combine the two (OCBOA).
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toro introduced a small, lightweight snowblower called the snow pup. even though the product worked, sales failed to meet expectations. toro later found out that consumers perceived the name to mean that snow pup was a toy or too light to do any serious snow removal. when the product was renamed snow master, sales increased sharply. this is likely an example of
The product was renamed snow master, sales increased sharply. this is likely an example of Selective distortion.
Because you believe in advertising, you choose to purchase a product from a particular brand, just to find out that it is not as high-quality as you had been led to believe. The tendency for people to interpret information in a way that confirms already held views or perceptions is known as selective distortion.
Selective perception is the propensity to ignore and forget more rapidly things that are upsetting emotionally or go against our preconceived notions. Because of their bias against members of their own group, teachers, for instance, could have a favorite pupil. The instructor disregards the student's subpar performance.
The propensity to interpret information in a way that will fit our beliefs is known as selective distortion. Information is frequently distorted by consumers in order to support existing brand and product beliefs.
Customers often interpret information to fit or support their prejudices, which is known as selective distortion. Customers misinterpret information in a specific way in order to make it conform with their ideas about a brand or a previous product.
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the managers of a production line that fills cereal boxes would like to reach a six sigma level of quality in terms of product weight. the desired range of output extends from 10 to 16 ounces. in order to reach six sigma quality, what would the maximum standard deviation of output need to be?
The maximum standard deviation of output needs to be will be 0.5 ounces
The deviation is a measure used in statistics and mathematics to find the difference between the observed and expected values of a variable. The deviation is simply the distance from the center point.
Sentence Examples of Deviation
It was a departure from his usual routine for him to drink juice instead of coffee. The pattern deviates significantly from the norm.
A deviation is defined as any unwelcome event that deviates from the approved processes, procedures, instructions, specifications, or established standards.
Deviations are possible during the manufacturing, packing, sampling, and testing of pharmaceutical products. Deviations are classified into three types: critical, major, and minor.
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suppose that you win a $1,000 scholarship competition, and spend $600 of that amount right away on books and food, and save $400 for use in the following semester. what is your marginal propensity to consume?
Marginal propensity to consume is 0.6.
Marginal propensity to consume (MPC) is the percentage of additional income that an individual spends rather than saves. It is the percentage of an overall salary increase that a customer spends on the purchase of goods and services.
MPC = Change in consumption ÷ Change in income
In this ques, it is given that the total income is $1000 out of which $600 is being spent and $400 is being saved.
Change in consumption = difference between current consumption and previous consumption.
Change in income = difference between current income and previous income.
In this ques, previous income and consumption are not given, thus, it is assumed to be 0.
Thus, change in consumption = $600 - $0 = $600
Change in income = $1000-0 = $1000
Thus,
MPC = Change in consumption ÷ Change in income
= 600 ÷ 1000
= 6 ÷10
= 0.6
Thus, Marginal propensity to consume is 0.6.
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you realize that the first step in the business information process is deciding how to acquire the data needed to support your suggestion to frank. how will you acquire this specific data?
Customer Relationship Management is shorthand for CRM. It is a tool for managing interactions with current and potential clients.
A CRM framework assists associations with building client connections and smooth out processes so they can increment deals, further develop client care, and increment productivity.
What is the purpose of a CRM system?
Customer Relationship Management is shorthand for CRM. It is a tool for managing interactions with current and potential clients. Organizations can improve customer service, increase profitability, and build relationships with customers through the use of a CRM system.
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In Calc, what does the * symbol mean?
A.
Divide by
B.
Multiply by
C.
Subtract
D.
Calculate these numbers first
we described monetary policy as a sequence starting with a change in the interest on reserves. the demand for cash weakness complicates which part of the sequence?
Monetary policy is a sequence stating with a change in the interest on reserves. the demand for cash weakness complicates the supply part of the sequence
What is Monetary Policy?A Monetary Policy is defined as a set of tools which is used by a nation's central bank in order to control the overall supply of money and to promote economic growth. Monetary policy includes the interest rates and changing bank reserve requirement.
There are two types of monetary policy
ExpansionaryContractionaryContractionary
A Contractionary policy playa an important role in increasing the interest rates and limiting the supply of money to slow growth and it helps in decreasing deflation.
Expansionary
During the time of recession, an expansionary policy helps to increase economic growth.
The goals of monetary policy are
Inflation UnemploymentExchange RatesThe various tools of Monetary Policy are
Open Market Operation, Interest Rates. Reserve Requirements
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a 11-year, semiannual coupon bond sells for $938.52. the bond has a par value of $1,000 and a yield to maturity of 6.45 percent. what is the bond's coupon rate?
The coupon rate is calculated by multiplying the bond's face value, sometimes referred to as its "par value," by the sum of all annual bond payments. The bond's coupon rate 6.08%
How is the coupon rate calculated?The coupon rate is calculated by multiplying the bond's face value, sometimes referred to as its "par value," by the sum of all annual bond payments.
The coupon rate is the annual return an investor could expect while holding a certain bond. It exists determined at the time the bond is issued and is computed by dividing the sum of the annual coupon payments by the par value.
N = 22
I/Y = 6.51/2 = 3.255
PV = $952.52
FV = $1,000
PMT = $30.40
Coupon rate = ($30.40 × 2)/ $1,000 = .0608, or 6.08%
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the difference between talent management and human resource management is... a. just the title; they are the same b. talent management is a more holistic approach to hiring and retaining the right people c. talent management relates to athletes and musicians, whereas human resource management represents other types of professional jobs d. talent management focuses on employee fit with the organization e. both b and d
The correct option is b. Talent management is a more holistic approach to hiring and retaining the right people.
The definition of talent management is the meticulously planned, strategic process of bringing on the right personnel and assisting them in reaching their full potential while keeping organisational objectives in mind. Thus, the process entails identifying talent gaps and open positions, locating and hiring qualified candidates, going to grow them within the system and developing necessary skills, training for expertise with a future-focused approach, and successfully engaging, retaining, and motivating them to accomplish long-term business goals. Similar to how all other areas of work have changed through time, talent management strategies have advanced recently in order to accommodate people-specific developments.
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According to the etextbook, _____________ certification of your company can prove to other companies that your company is committed to sustainability at an organizational level.
According to the etextbook, ISO 14000 certification of your company can prove to other companies that your company is committed to sustainability at an organizational level.
In the field of business, ISO 14000 can be described as a certification that helps in the management and organization of a business. By this certification, a business can claim that they operate under the organizational level.
ISO 14000 helps to work under environmental regulations and comes up with ways to increase the sustainability of a company.
This certification acts as a proof to claim to other organizations that your business has to be regarded at the company level.
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Demand is the demand for a good or service that considers only the private benefits of its consumption.
When the use of a good or service benefits persons who were not engaged in its creation or consumption, this is known as a positive externality on consumption.
What is an illustration of consumption externalities?negative externalities of consumerism
Third parties may suffer unfavorable consequences when certain items, such as demerit goods, are consumed. Examples include excessive alcohol consumption, which can ruin someone else's night out, noise pollution, and cigarette smoking, which can lead to passive smoking.
When someone else's consumption has an explicit and direct impact on their utility function, or when they are directly impacted by learning about another person's consumption, this is known as a consumption externality in economics. This is so that businesses may more easily determine their cost and production strategies. Companies are aware of the optimal number of units to produce for each product based on the marginal benefit. Additionally, customers must support this move.
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________ occurs when the supplier, rather than the retailer, manages the entire inventory process for a particular product or group of products, resulting in more effective inventory replenishment.
VMI(Vendor Managed Inventory) occurs when the supplier, rather than the retailer, manages the entire inventory process for a particular product or group of products, resulting in more effective inventory replenishment.
What is Vendor Managed Inventory?Vendor-managed inventory (VMI) is an inventory management technique in which a product's manufacturer or other supplier is in charge of making the best use of a distributor's inventory.
In conventional inventory management, a retailer (also known as a distributor or a buyer) is in charge of determining the order size. With VMI, the vendor—sometimes referred to as the supplier—receives the retailer's inventory data and uses it to make the order size decision. As a result, the vendor is liable for the retailer's ordering costs, while the retailer is accountable for their own holding costs. This approach can prevent stocking unnecessary inventory, which can lower costs overall.
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