The advantage of standardization does this scenario illustrate standardized products function uniformly all the time, so customers get a product that meets their expectations. Thus the correct option is A.
What is standardization?The introduction of norms and compatible processes and equipment within a particular industry is commonly referred to as standardization. It ensures that technologies are consistent, accessible, and safe while reflecting the quality and integrity of those technologies.
Standardized products always perform consistently, customers receive a product that lives up to their expectations, which contributes to higher customer satisfaction.
Therefore, option A is appropriate.
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What type of marketing is generally characterized by limited communications and little or no ongoing relationship between the buyer and seller?.
A type of marketing that is generally characterized by limited communications and little or no ongoing relationship between the buyer and seller is transactional marketing.
What is transactional marketing?
Transactional marketing is one business strategy that focuses on single "point of sale" transactions. This strategy emphasizes is on maximizing the volume and efficiency of individual sales rather than developing a relationship with the buyer. The advantage of this strategy is the cost-effective strategy to build a sales model. It's because the strategy doesn't focus on brand image and the promotional costs are low. The example of transactional marketing is a shopping channel on TV advertising a new product and provides a phone number or website to buy the product in that moment.
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business-to-business firms generally use three types of segmentation. what is one of them? multiple choice lifestyle segmentation behavioral segmentation vals segmentation attitude segmentation motivation segmentation
Markets can be divided geographically, demographically, or behaviorally, among other ways.
Which three main types of segmentation are there?Segmentation of Psychographic Data. The consumer's values, beliefs, perceptions, attitudes, interests, and behaviors are addressed by this method of segmentation.Segmentation of the Population...Geographical division.What are the three psychographic segments of the market?Personality, Lifestyle, Social Status, AIO (Activities, Interests, Opinions), and Attitudes are the five psychographic segmentation variables that can be used to prepare homogeneous segments for proper research.
Product positioning, market segmentation, and market targeting make up the three-step funnel. During the phase of your research-based market segmentation, you want to determine important characteristics that will set each market segment apart and establish a foundation for segmenting your target customers.
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the bbc company is forecasting demand to fluctuate over the next four periods. if the beginning inventory level is 120 units and the company wants a pure level output plan, what level of production is required to avoid back orders during any period and to keep ending inventory for period 4 at a minimum? the forecast is: period 1-1900; period 2-1930; period 3-2260; period 4-910.
The technique of estimating and predicting future consumer demand for a good or service is known as demand forecasting.
The forecast period is: 1990.
What is meant by forecasting demand?Making predictions about the demand from customers over a predetermined time period is known as demand forecasting. In general, historical data and other analytical information are taken into account in demand forecasting to provide the most precise estimates.
By analyzing previous sales data, demand forecasting can be used to predict future sales data. You can meet client needs effectively and make the best business decisions as a result. A corporation can analyze its inventory level, SKU stock levels, overall sales, and revenue for a future period with the use of demand forecasting.
The technique of estimating and predicting future consumer demand for a good or service is known as demand forecasting. It involves applying predictive analysis of past data. Demand forecasting assists the company in making more informed supply choices that predict the overall sales and revenue for the upcoming period of time.
The forecast period is: 1990.
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factors of production are foundational to a business achieving their objectives. if a business identifies the need to acquire new machinery to increase efficiency, on which of the four fundamental resources should they focus?
The four fundamental resources should they focus natural resources, capital, human resources, and entrepreneurship.
The required details about Factors of production is mentioned in below paragraph.
Factors of production are the assets that serve as the economic backbone and are utilized by individuals to create goods and services. Land, labor, capital, and entrepreneurship are the four types of production elements that economics differentiate between. According to conventional economics, the four main factors of production are land, which refers to the actual area and natural resources, labor, which refers to the actual workers, capital, which refers to the actual funds and machinery, and entrepreneurship, which refers to the actual concepts and driving forces. All production forces contribute to economic progress. No product can be made without the basic components (land). Such resources cannot be gathered, transformed, or processed without work (labor).
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joey realizes that he has charged too much on his credit card and has racked up $4,600 in debt. if he can pay $125 each month and the card charges 18 percent apr (compounded monthly), how long will it take him to pay off the debt?
Debt - Joey would take approximately 53.93 months.
What is Debt?
An obligation to pay money or another agreed-upon value to a third party, the creditor, is known as a debt. Debt differs from an immediate purchase in that payments are deferred or made in instalments. A sovereign state or nation, a local government, a business, or an individual may be liable for the debt. Contractual provisions governing the sum and schedule of principal and interest repayments typically apply to commercial debt. Debt includes mortgages, bonds, notes, and loans. Debt, as opposed to equity, is a type of financial transaction in financial accounting. The phrase could also be used metaphorically to refer to duties of a moral nature and other interactions without a monetary exchange.
Given : $4,600 in debt can pay $125 each month 18 percent Apr.
An obligation to pay money or another agreed-upon value to a third party, the creditor, is known as a debt. Debt differs from an immediate purchase in that payments are deferred or made in instalments.
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as a result of a global pandemic, the u.s. government institutes a federally funded program to provide payments to small and medium size enterprises that pay their employees during the economic interruption. this is an example of a(n)
When screening (or more stringent policies) were first implemented, the predicted number of COVID-19 cases increased by approximately 1.9 times.
And cases per capita were 7.7 times higher, in particular, with a one standard deviation increase in the globalization index.
What effects would a global pandemic have on the economy?
The International Monetary Fund (IMF) estimates that the COVID-19 pandemic has had a significant impact on the global economy. Between 2019 and 2020, the median global GDP is expected to decrease by 3.9%, making it the worst economic downturn since the Great Depression.
Which parts of the economy are being affected by this pandemic?
The COVID-19 pandemic is affecting public health and causing economies and labor markets to be disrupted like never before, including for forest industry workers and businesses. It has made the problems that already exist worse, and as a result, many businesses and employees have suffered.
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cowland, inc., manufactures a low-cost generic cheese alternative. it adds a filler to the meat that it does not list on its label. cowland's actions violate federal requirements relating to the labeling of food products. these requirements are enforced by:
Cowland's actions are violating labeling requirements which are enforced by the U.S. Food and Drug Administration and the U.S. Department of Agriculture.
Labeling is the process of applying a label on a commodity. A label provides details about a product that are found on the product itself, its packing, or its container. It also contains warnings. For instance, some commodities state that they shouldn't be consumed by individuals who are allergic to nuts because they may contain traces of nuts. The applicable manufacturing and shipping laws govern the kind and amount of information that needs to be provided by a label.
The brand of the commodity and the company is also represented in the labeling. Labeling distinguishes the product as an element of a specific brand and differentiates it out in the marketplace. In an era of intense competition, this is critical.
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How does the author develop the idea that the current high-tech toilet design may someday be affordable for consumers?.
The Reinvent the Toilet Challenge was launched in 2011 by the Water, Sanitation & Hygiene program to encourage the development of novel toilet technologies that securely and effectively manage human waste.
Why was the toilet invention so significant?Most upper class homes and the vast majority of public areas had restrooms by 1907, though. Since then, the toilet has unquestionably contributed to modernity and the eradication of nearly 50 diseases that can be contracted by contact with human waste, the most infamous of which are cholera, typhoid, and dysentery.The startup that created the water-generating hydropanels has funding from Bill Gates and Blackrock. In order to deliver clean water to those who need it most, Cody Friesen established Source Global in 2015. Source's hydropanels have now been used in 450 different projects across 52 different nations.The Reinvent the Toilet Challenge was launched in 2011 by the Water, Sanitation & Hygiene program to encourage the development of novel toilet technologies that securely and effectively manage human waste.To learn more about Toilet invention refer to:
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for 2020, lydia had adjusted gross income of $60,000 and made the following charitable contributions: cash contribution to her synagogue: $ 1,500 tuition to a private school paid directly to her niece: $ 1,200 contribution to the salvation army: $ 350 cash contribution to a man begging on a freeway off ramp: $ 150 what is the maximum amount that she can deduct as a charitable contribution for 2020?
The maximum amount that she can deduct as a charitable contribution for 2020 is $1850.
1500 was given in cash to her synagogue.
350 has been donated to the Salvation Army.
Total = 1500 + 350
= $1850
A donation or gift made to or for the benefit of an approved organisation is referred to as a charitable contribution. It is given voluntarily and without expecting or receiving anything of comparable worth. reputable organisations.
You must keep a record of any contributions made in cash, check, or other forms of money (regardless of the amount), such as a bank record or a written letter from the qualified organisation specifying the organization's name, the donation's amount, and the date.
Under Section 80G of the Income Tax Act, donations made to specific relief funds and charity organisations may be deducted from income. However, section 80G does not permit deductions for all donations. Only contributions made to specified funds are tax-deductible.
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which of the following statements is true? multiple choice platform businesses have a major weakness: they are not very successful at value creation. a platform business exists to help make matches among users and facilitate the exchange of goods, services or social currency. a platform business usually must rely on pipeline businesses to connect it with consumers. platform businesses are dependent on electronic media and thus are a new development in the business world.
A platform business exists to help make matches among users and facilitate the exchange of goods, services or social currency.
Social currency refers to the actual and potential resources of our presence in both digital and offline social networks and communities.
Social currency is personal assets and attributes that help you succeed in interactive social channels. The term generally refers to online social networks, especially these days, but also to real life and the hybrid online/physical environments typical of modern life.
Social currency is basically "influence currency". Brand followers, likes, comments, shares, and views have a monetary value. It's the extent to which people basically share brand information or the lifestyle of influencers sharing parts of their daily lives.
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ace products manufactures and markets a product called grow tall. ace claims in its advertising that grow tall will make its users grow a minimum of six inches taller than their current height. the federal trade commission (ftc) will likely find that the ad is:
The federal trade commission will likely find that the ad is: deceptive, and the FTC may issue a cease-and-desist order.
A court or government organization has the authority to issue a cease and desist order. A firm or an individual may send a cease and desist letter. It is a request, but if it is not complied with, legal action may be taken. A cease and desist letter informs the receiver of an alleged violation of the sender's rights in either situation and requests an end to the infringement. Cease and desist letters or orders frequently address claims of copyright violations, intimidation, slander, and contract violations. A cease and desist letter can be a quick and affordable substitute for pricey legal action.
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a company achieves a successful low-cost provider strategy by multiple choice question. boasting lower costs than rivals, but not necessarily the absolutely lowest cost. being one of several competitors in the industry with low costs. offering only frills-free products or services. always having the rock-bottom lowest cost in the industry regardless of profit margins.
Boasting lower costs than rivals, but not necessarily the absolutely lowest cost.
What is lowest cost strategy?To attract clients to the market, a low-cost provider tries to provide its goods at the lowest possible price while yet turning a profit. Due to the fact that these businesses want to appeal to a large market, this is the wide interpretation of the low-cost strategy.Businesses that employ the best-cost strategy typically attract customers with their cheaper rates and are able to cultivate a loyal following of clients. This is so that they may provide their clients with a value that lives up to their expectations.To learn more about lowest cost strategy refer to:
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how can trainee appraisers be assured that the duties assigned by supervisor appraisers will enhance their understanding and progression of knowledge and experience in all applicable valuation methodologies and approaches to value?
A new requirement for both trainee and supervisory appraisers is to take a course covering the expectations and responsibilities of appraisers in these roles.
The appraisal methodology denotes the method of calculating an asset's value based on elements including its cost, the revenue it generates, and its fair market value (FMW) in comparison to other assets of a similar nature. The final assessment value is essentially an educated guess that tries to predict the cost of an asset in a free market. Despite the fact that appraisals are frequently carried out in conjunction with a sale of an item, they can also be done for insurance or taxation reasons.
The appraisal method is employed to establish the value of high-value assets including real estate, works of art, jewels, cars, financial interests in oil reserves, and other non-traditional assets.
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when tolls on the dulles airport greenway were increased from $0.50 to $1.50, traffic decreased from 31,000 to 10,000 trips a day. assuming all changes in quantity were due to the change in price, what is the price elasticity of demand for the dulles airport greenway?
The price elasticity demand for the Dulles Airport Greenway is equal to -0.34.
Price elasticity of demand may be defined as the ratio of how much the quantity of demanded goods change or fluctuate as compared to the original demand divided by the change in price compared to the original price of the goods. The formula will be expressed as
Price elasticity of demand = (ΔQ/Q) ÷ (ΔP/P) where ΔQ is the Change in quantity demanded, Q is the initial quantity demanded, ΔP is the Change in price and P is the original price. Putting the values according to the question that is ΔQ = 10000 - 31000 = -21000, Q = 31000, ΔP = $1.50 - $0.50 = $1 and P = $0.50
Price elasticity of demand = (-21000/31000) ÷ (1/0.50)
Price elasticity of demand = -0.68/2
Price elasticity of demand = -0.34
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if you are not the boss but need to motivate your coworkers to work faster so that you can leave work a little early today how do you need to behave? like a leader like a manager
If you are not the boss but need to motivate your coworkers to work faster so that you can leave work a little early today, you need to behave like a leader.
A leader is someone who guides and inspires a team or an individual to reach a certain objective. Leaders motivate followers to make the decisions required for success. The skills necessary to be a successful leader must be acquired through study and practice. When the team leader recognizes an coworkers hard work, it gives them more confidence. Coworkers turn to their team leader for motivation.
Leaders are capable of influencing and directing their team toward a common goal. Additionally, they are in charge of fostering and preserving Coworkers morale, assisting staff in realizing their full potential, and motivating loyalty. As a leader, it's critical that you possess effective communication skills.
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Do firms in small towns or in cities have more market power in hiring? small towns cities do you think that firms generally have more market power in hiring today than 50 years ago, or less? more less this change over time has the need for unions.
Because there are fewer possibilities for workers to find work elsewhere, businesses in small towns have more market power when it comes to hiring. Since it is now simpler for employees to travel further to work, businesses generally have less market power than they did in the past.
What function did little towns serve?Small towns have a crucial but frequently underappreciated role in rural landscapes and food systems. In addition to serving as market hubs for food growers and processors, they also offer their own populations and the rural area around them with services, goods, and non-farm employment.Small towns, by virtue of their significantly lower population compared to cities, also have lower crime rates. Small-town residents are frequently highly familiar with one another and the local events, making it far more difficult to commit a crime without anybody noticing.Because there are fewer possibilities for workers to find work elsewhere, businesses in small towns have more market power when it comes to hiring. Since it is now simpler for employees to travel further to work, businesses generally have less market power than they did in the past.To learn more about Firms refer to:
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inancial information is presented below: operating expenses $ 42,000 sales returns and allowances 12,000 sales discounts 3,000 sales revenue 165,000 cost of goods sold 96,000 gross profit would be
Net income - After taking into account all the information provided, the pretax income on the income statement would be $12,000.
Net income (NI), often known as net earnings, is calculated by deducting sales from cost of goods sold, selling, marketing and administration expenditures, operational expenses, amortization, interest, taxes, and other expenditures. Investors can determine how much a company's revenue exceeds its costs by looking at its net income number.
Operating costs are subtracted from gross income to determine net income.
Details $
sixteen thousand five hundred dollars in sales.
Purchase Discount (3,000)
Sales adjustments and returns (12,000)
One hundred fifty thousand dollars in net sales
Charge for Sold Goods (96,000)
54,000 in gross income
operational costs (42,000)
Operating to Net Income Ratio: 12,000
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Instead of cultural and marketing influences, what factors should determine a household’s saving rate?.
The factors that should determine a household’s saving rate are Monetary situations, social establishments, and the person or populace characteristics can all play a function. Monetary conditions together with financial balance and general earnings are vital in figuring out savings costs.
As a minimum 20% of your profits have to move in the direction of savings. Meanwhile, every other 50% (most) ought to move toward requirements, even as 30% goes toward discretionary objects. That is referred to as the 50/30/20 rule of thumb, and it gives a quick and clean manner that will price range your money.
This record is the today's to be had from this supply but is from 2019, and some sources put common savings even higher: Northwestern Mutual's 2022 making plans & progress have a look at found out that the common amount of personal financial savings (not which include investments) became $62,086 in 2022.
In the end, your cash loses its fee and shopping strength. Some other red flag that you have an excessive amount of cash in your financial savings rate is if you exceed the $250,000 restriction set through the Federal Deposit insurance corporation (FDIC) — glaringly not a difficulty for the common saver.
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the following costs related to summertime company for a relevant range of up to 20,000 units annually: variable costs per unit: direct materials $2.50 direct labor 0.75 manufacturing overhead 1.25 selling and administrative 1.50 fixed costs for the period: manufacturing overhead $3,000 selling and administrative 2,000 the selling price per unit of product is $15.00. at a production and sales volume of 15,000 units, what is the total profit for summertime company?
at a production and sales volume of 15,000 units, the total profit for the summertime company is $15,000.
Manufacturing is the method of combining diverse fabric inputs and immaterial inputs (plans, understanding) so that it will make something for intake (output). It's far the act of making output, a very good or provider that has a cost and contributes to the utility of people. The vicinity of economics that focuses on manufacturing is known as the manufacturing principle, that's intertwined with the intake (or purchaser) idea of economics. The manufacturing manner and output directly result from productively using the original inputs (or factors of manufacturing). Called number one producer items or offerings, land, labor, and capital are deemed the three fundamental manufacturing elements.
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magine that instead of hiring each assistant right away in the hiring assistant problem, we wait until the end to hire the best one. what are the best- , worst-, and average-case costs in this case? explain
An algorithm's running time is typically analyzed using probabilistic analysis. Simply put, probabilistic analysis is the application of probability to problem solving.
What is the issue with hiring?
In the analysis of algorithms, a well-known decision-making issue is the hiring issue. An effective algorithm for selecting the best candidate from a list of n candidates is developed to solve the issue.
Write the hiring problem using a random algorithm.
If a random number generator's values partly determine an algorithm's behavior, it is randomized.This necessitates a modification to the hiring issue scenario:The employment agency provides us with a list of n candidates in advance and lets us select the order in which we want to interview them.We select at random.
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the covenant of quiet enjoyment provides the tenant with group of answer choices a. a promise from the landlord that the premises will be maintained in reasonable condition. b. the right to make alterations to the property without interference from the landlord. c. the right of exclusive possession of the property during the period of the lease.
A covenant of quiet enjoyment gives the lessee, with a group of answers, the right to exclusive possession of the property for the duration of the lease.
In its broadest and most traditional sense, a contract is a solemn undertaking to do or refrain from doing a certain act. A contract was distinguishable from an ordinary contract by the presence of a seal under historic English common law. At common law, the contract would be upheld even in the absence of consideration, because the existence of the seal demonstrated an unusual seriousness in the commitments made therein.
A lease is a legal contract that requires the user to pay the owner for the use of the property. Common assets that are leased include real estate, buildings, and automobiles. Leasing is also done on commercial or industrial equipment. In its simplest form, a lease is a contract between a landlord and a tenant.
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johnson's selling and administrative budget is based on budgeted unit sales, which are 4,600 units for august. the variable selling and administrative expense is $7.30 per unit. the budgeted fixed selling and administrative expense is $51,980 per month, which includes depreciation of $6,440 per month. the remainder of the fixed selling and administrative expense represents current cash flows. the cash disbursements for selling and administrative expenses on the august selling and administrative expense budget should be:
The total cash disbursed for selling and administrative expenses for the month of August is $79120
Included under selling expenses are costs related to selling the company's goods. The costs the company incurs to run its business are included in the administrative expense.
Number of units sold by Johnson's = 4600 units
Variable selling and administrative expense per unit = $7.30 per unit
Total variable selling and administrative expense for 4600 units= 4600*7.30 = $33,580
Fixed selling and administrative expense = $51980
Depreciation per month = $6440
Fixed selling and administrative expense after deducting depreciation = 51980 - 6440 = $45540
Total cash disbursed for selling and administrative expense = Fixed selling and administrative expense + Variable selling and administrative expense for 4600 units
45540 + 33580 = $79120
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if the average adult produces $30,000 of output per year, how much global output is lost annually as a result of adult deaths from secondhand smoke? instructions: round your response to one decimal place. output lost
According to a global assessment, secondhand smoke causes the deaths of 600,000 individuals worldwide. 435,000 of these 600,000 victims are adults. The output lost as a result is 13.05 billion.
Elaborate on passive smoking.A deadly concoction of more than 4,000 irritants, poisons, and cancer-causing agents makes up secondhand smoking. People around you continue to breathe in the dangerous toxins no matter how cautious you believe you are because the majority of secondhand smoke is invisible and odorless.
People are not protected by opening windows and doors or by smoking in another room of the house. Even with a window open, smoke can remain in the air for two to three hours after you've finished a cigarette. Additionally, even if you just allow smoking in one room, the smoke will enter the other rooms in the house and be inhaled by residents.
Considering that an adult produces 30,000 worth of production annually, 435,000 adults would have generated,
= 30,000 × 435,000
= 13,050,000,000
As a result, the annual loss in global output due to adult mortality is 13.05 billion.
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the manager of a chain of gyms is concerned about falling prey to marketing myopia by not defining his competitive landscape properly. how should he define the business to avoid falling into this trap?
He should define the business to avoid falling into this trap by giving solutions for good health.
What do you mean by business?
Business is the practise of earning a living or earning money by manufacturing, purchasing, and selling goods. Having a business name does not remove the business entity from the owner, which means that the owner is responsible and liable for the business's debts. If the company incurs debts, creditors may seize the owner's personal belongings. All business income is taxed directly to the proprietor. In addition, the phrase is sometimes used colloquially to refer to a business, such as a corporation or cooperative.
An organisation or enterprising entity that engages in commercial, industrial, as well as professional activities is referred to as a business. Businesses can be for-profit corporations or charitable institutions. Limited liability companies, sole proprietorships, corporations, as well as partnerships are among the different types of businesses.
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soda bubbles corporation makes soft drinks. toby drinks a soda beverage, which proves defective and injures him. one justification for holding soda strictly liable for the harm caused to toby is that
Soft drinks are manufactured and sold by Soda Bubbles Corporation. Talia purchases and consumes a Soda Bubbles beverage, which turns out to be defective and injures her. One reason for holding Soda Bubbles strictly liable for the harm caused to Talia by its defective product is that Soda Bubbles is profitable.
A product defect is any feature of a product that prevents it from being used for the purpose for which it was designed and manufactured. Product defects are most commonly encountered in legal contexts involving product safety, where the term refers to "anything that renders the product not reasonably safe."
A defective product is one that causes harm to a person as a result of a design flaw, a manufacturing flaw, or a marketing flaw.
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A _____ is a set of unique features of a company and its products that are perceived by the people or companies the organization wishes to serve as significant and superior to those of the competition.
A competitive advantage is a set of unique features of a company and its products that are perceived by the people or companies the organization wishes to serve as significant and superior to those of the competition.
What exactly is a competitive advantage?If a company have something that gives it an edge over its competitors that eventually helps it attract more customers and grows its market share, then it is a competitive advantage to the company.
There are three primary forms of a competitive advantage, namely (1) cost advantage, (2) offer advantage, and (3) niche advantage.
Cost advantage means providing a service or producing a product at a lower cost than competitors.Offer advantage means a company's product or service stands out from the competitors by meeting a unique customer need.Niche advantage means designing a product or service that attracts a specific audience.Find out more about competitive advantage here: https://brainly.com/question/26514848
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mona let her permanent policy lapse. she discovered there was $2,498 in cash value remaining in the policy and decided to pay off some of her credit card debt. she exercised which nonforfeiture option?
Mona let her permanent insurance coverage lapse. She realised that the policy still had $2,498 in cash value and chose to use it to pay off some of her credit card debt. She chose the cash surrender.
What is an insurance?
Insurance is a form of financial protection in which, in exchange for a fee, one party undertakes to compensate another party in the case of a certain loss, damage, or injury. It is a sort of risk management which is intended to reduce the risk of a contingent or uncertain loss. A company that provides insurance is known as an insurer, insurance business, insurance carrier, or underwriter. A policyholder is someone or something that buys insurance, whereas an insured is someone or something that is covered by the policy.
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Merit scholarships can be awarded for high gpas or test scores, honors recognition, leadership roles and _____.
Merit scholarships can be awarded for high GPAs or test scores, honors recognition, leadership roles, and community service.
What does a merit-based scholarship mean?Academic, athletic, and artistic achievement are the usual criteria used to award merit scholarships, along with personal interests. Some merit scholarships take into account financial necessity as well, although recognizing skill is the main goal.
For the most part, merit-based rewards require strong academic performance, challenging coursework, and high scores on the SAT or ACT, all of which can help you stand out from the competition. What will set your application apart from the competition is the scholarship essay you submit.
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after the lehman brothers collapse, the federal reserve stood ready to lend financial institutions funds. when the federal reserve did this, it was acting in its role as a lender of last resort. which type of group has this role? informal institution nongovernmental organization formal institution government agency g
When financial institutions are unable to obtain funds from other sources, they must borrow from the lender of the last resort.
What is financial institutions?
A financial institution (FI) is a firm that deals with finances and monetary transactions such deposits, loans, investment, and currency exchange. Financial institutions include a wide range of financial services business operations such as banks, thrift institutions, insurance firms, brokerage firms, and asset dealers. Almost everyone in a developed economy necessitates the assistance of financial institutions on a regular or at least periodic basis. Most people are served by financial institutions in some way, as business statements are a crucial aspect of any society, with individuals and businesses relying on banking firms for payments and investing. Because banks and other financial institutions play such an important role in the economy, governments believe it essential to control and regulate them.
Lender of last resort provides funds to qualifying financial institutions. The country's Central Bank is usually the lender of last resort. They are known as lenders of last resort because they bail out significant financial institutions in severe financial conditions when it becomes impossible for the institutions to raise capital. The Fed is not a government agency or an informal organization. It is not a ngo because its functions are fundamentally different from those of a ngo. As a result, option a) Formal Institution is the correct answer.
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down home furnishings reports inventory using the lower of cost and net realizable value (nrv). below is information related to its year-end inventory. inventory quantity unit cost unit nrv furniture 260 $91 $106 electronics 56 460 400 required: 1. calculate the total recorded cost of ending inventory before any adjustments. 2. calculate ending inventory using the lower of cost and net realizable value. 3. record any necessary adjusting entry for inventory. 4. determine the impact of the adjusting entry in the financial statements.
The value of the items that a company has available for sale at the end of a certain accounting period is known as ending inventory, often referred to as closing inventory. Businesses in almost every sector of the economy benefit from understanding ending inventories.
What is an illustration of a closing inventory?Examples of Ending Inventory Calculation
Home Furnishings reports inventory using the lower of cost and net realizable value (NRV). Below is information related to its year-end inventory.
Inventory Quantity Cost NRV
Furniture 260 $91 $106
Electronics 56 460 400
Ending Inventory = 260 × 91 + 56 ×400
Ending Inventory = 46060
Inconclusion When cost and net realizable value are taken into account, the final inventory is 46060.
Ending inventory is another name for closing stock.
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