Companies should concentrate on a single strategy in order to develop a long-lasting competitive edge. It is not always necessary to accomplish all of the marketing planning's steps.
What is regarded as the most effective method for creating a long-lasting competitive advantage?
High value and high quality without abandoning pricing can give a business a significant sustained advantage. If they successfully leverage economies of scale, the competitors cannot take their market share because their pricing makes them a provider of goods and services at low costs.
What should you look for in a sustainable competitive advantage?
Start thinking of your marketplace as a reactive, adaptive, and dynamic entity rather than as a static one as the first simple step. The error at this time, entrepreneurs frequently make the mistake of losing sight of the long term. Your business now is not significant; what matters is your business in five years.
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In Country T, it takes 10 resources to produce 1 ton of cocoa and 13.5 resources to produce 1 ton of rice. In Country Y, it takes 40 resources to produce 1 ton of cocoa and 20 resources to produce 1 ton of rice. Country T has a comparative advantage over Country Y in cocoa. This follows the theory of comparative advantage, and we can say that engaging in free trade benefits all countries that participate in it; however, this conclusion stems from which of these inaccurate assumptions?O We have assumed constant returns to scale.O We have assumed the prices of resources and exchange rates in the two countries are dynamic.O We have assumed there are barriers to the movement of resources from the production of one good to another within the same country.O We have assumed that agrarian nations do not specialize in producing particular products.O We have assumed diminishing returns to specialization.
"We assumed constant returns to scale," is the wrong assumption.
What are constant returns to scale?Constant returns to scale are an economic concept that refers to the relationship between production inputs and outcomes. It states that if all inputs are increased by a particular factor, output will also grow by the same factor, preserving the same proportion of inputs and outputs. In other words, if doubling all inputs results in twice the output, then the manufacturing process has constant returns to scale. Constant returns to scale show that the production process is linear and efficient, and that increasing inputs results in a rise in output proportional to the increase in inputs. In microeconomic analysis, this idea is utilised to determine business behaviour and the efficiency of manufacturing processes.
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how will you combine these results (your center-of-gravity results, cost, and qualitative criteria analyses)? how might you compute a summary score for each site using all three criteria? explain and justify.
Combining the results of a center-of-gravity analysis, cost analysis, and qualitative criteria analysis can be done by creating a weighted scoring system. This means that each criterion (e.g. center-of-gravity, cost, and qualitative criteria) is assigned a weight or importance value, and the results for each site are then multiplied by the corresponding weight and summed to obtain a composite score.
To compute a summary score for each site, the first step is to normalize the data, if necessary. For example, if the center-of-gravity results are expressed in miles and the cost data in dollars, the data need to be transformed into a common unit, such as a score between 0 and 1, to facilitate comparison.
Next, each criterion is assigned a weight that reflects its relative importance. For example, the weight for center-of-gravity might be set at 50%, cost at 30%, and qualitative criteria at 20%. These weights should be chosen based on the specific goals and objectives of the project and the relative importance of each criterion.
Finally, the weighted scores for each site are calculated by multiplying the normalized results for each criterion by its weight, and summing the results. This provides a composite score for each site, which can then be used to rank the sites and make a final decision on the best location.
It is important to justify the weights assigned to each criterion by providing a rationale for the relative importance of each criterion. For example, if cost is given a high weight, it might be justified by the fact that the project has limited resources, or if the center-of-gravity is given a high weight, it might be justified by the fact that the location of the facility is critical for the efficient operation of the business.
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if a business has current assets of $50 million, noncurrent assets of $700 million and liabilities of $430 million, what is the value of the equity?
The value of equity can be calculated by subtracting liabilities from the total assets.
To find the total assets, we add up current assets and noncurrent assets:
Total assets = Current assets + Noncurrent assets
= $50 million + $700 million
= $750 million
Now, we subtract the liabilities from the total assets:
Equity = Total assets - Liabilities
= $750 million - $430 million
= $320 million
So, the value of equity is $320 million.
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for a defined benefit pension plan, the discount rate used to calculate the projected benefit obligation is determined by the expected return on plan asset actual return on plan assets a. yes yes b. no no c. yes no d. no yes
For a defined benefit pension plan, the discount rate used to determine the projected benefit obligation is calculated by the expected return on plan asset, but not by the actual return on plan assets. So the correct answer is C: "yes; no".
For a defined benefit pension plan, the discount rate used to calculate the projected benefit obligation is determined by the expected return on plan assets, not the actual return on plan assets. The expected return is a prediction of the future returns of the plan assets, and it is used to estimate the present value of the future pension obligations. This present value is then compared to the current value of the plan assets to determine the pension plan's funding status.
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president jackson ordered that all money be moved out of the national bank and placed in. true or false
Jackson's mistrust of the National Bank was political as well because he thought a federal organisation like the Bank violated the rights of the states.
What did Andrew Jackson say regarding the Federal Reserve?The Bank was "unauthorised by the Constitution, subversive to the powers of States, and hazardous to the people's liberty," according to Jackson, who vetoed the bill when it passed Congress.
What alternative to a national bank did Andrew Jackson favour?Jackson repeated his opposition to the Bank in his annual messages from 1830 and 1831. He suggested a completely government-run entity in its place—in name a bank, but in reality a division of the Treasury with no authority over lending, purchasing property, or issuing notes.
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true or false liberal democrats advocate for a free market economy.
False. Liberal democrats advocate for a free market economy.
Liberals considered free market economy to be a chance for industrialist business visionaries to succeed.
The free market economy is a monetary framework in light of organic market with practically no administration control. It is an outline depiction of all willful trades that occur in a given financial climate. Unregulated economies are described by an unconstrained and decentralized request of plans through which people pursue financial choices.
In light of its political and legitimate standards, a nation's unrestricted economy might go between extremely huge or completely unlawful. The expression "unregulated economy" is once in a while utilized as an equivalent for free enterprise. At the point when a great many people examine the "unrestricted economy," they mean an economy with unhampered contest and just confidential exchanges among purchasers and dealers. Nonetheless, a more comprehensive definition ought to incorporate any intentional financial action inasmuch as it isn't constrained by coercive focal specialists
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Recognizing marketing's greater purpose is one of the four overriding principles of. conscious marketing. What is true of business ethics?
Recognizing marketing's greater purpose is one of the four overriding principles of conscious marketing.
The true statement of business ethics is to examines ethical rules and principles within a commercial context.
What does an conscious marketing refers to?Conscious marketing is a specialized technique that allows brands to align their values and mission with the values and missions of their potential customers.
This marketing strategy seeks to increase brand engagement, which is the emotional connection that a brand uses to connect with its audience. A higher level of brand engagement can assist businesses in increasing consumer loyalty. Conscious marketing differs from traditional marketing methods in that it seeks to directly involve customers in the purchasing process.
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presenting fixed costs on an average per unit basis makes them look like they are variable costs.
a. true
b. false
Option a is Correct. It is true that when fixed expenses are presented on an average per unit basis, they appear to be variable costs.
Fixed costs are not affected by the volume of output. Within the appropriate range, the total fixed costs stay constant. However, as output rises, the fixed cost per unit falls since the same fixed costs are shared over more units. Variable costs are constant per unit, but fixed costs are constant overall.
A fixed cost is one that is constant overall but fluctuates inversely with changes in volume if presented on a per-unit basis. Variable and fixed costs are both included in a mixed cost.
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the government of a foreign nation had controlled the oil and gas industry for many years but recently transferred the business into the hands of several small businesses. these companies are now motivated to increase productivity and enter new markets to achieve greater profits. what tactic did this nation use to help it move toward a market-based economic system? multiple choice question. isolationism privatization deregulation diversification
Privatization is used by the nation to help it move toward a market-based economic system
What is privatization?
Transferring ownership, management, and control of a public or government agency to a non-public or private firm are referred to as privatization. The procedure is followed to ensure that the publicly traded company or organization becomes more efficient and disciplined in light of expectations from the market. Privatization may be accomplished in a number of ways. However, the idea is not exclusive to governmental institutions. Instead, private businesses also go through corporate privatization and transform from publicly traded to privately controlled businesses. The public can no longer purchase the companies' stocks as a result.
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debbie owns a clothing store. she is concerned that a customer who is injured in the store will sue. which type of insurance should debbie purchase?
Debbie should purchase liability insurance to protect her clothing store against lawsuits resulting from customers who are injured in the store.
Liability insurance is designed to cover the costs of legal defense and any resulting damages in the event that a customer files a lawsuit against the business. This type of insurance provides protection for claims of bodily injury or property damage caused by the business' operations, products, or employees. In Debbie's case, having liability insurance in place will help to minimize the financial impact of any legal proceedings, allowing her to focus on running her business rather than worrying about the costs of a lawsuit. Liability insurance is a type of insurance that provides coverage for claims of bodily injury or property damage caused by the policyholder's operations, products, or employees. It helps to protect the policyholder against financial losses resulting from lawsuits or other legal proceedings.
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how long will it take you to save $3,000,000 if you deposit $5,000 annually into an account that earns 9%, compounded annually?
It will take you to 46 years to save $3,000,000 if you deposit $5,000 annually into an account that earns 9%, compounded annually,
What is meant by compounding?
Compounding is the term used to describe how an asset's value grows as a result of the interest that is generated on both the principal and the accumulated interest. Compound interest is another name for this phenomena, which is a direct application of the time value of money (TMV) idea.
Compounding is important in finance, and many investing techniques are driven by the profits associated with its effects. For instance, many businesses have dividend reinvestment programmes (DRIPs), which let investors use their cash dividends to buy more shares of stock. Reinvesting in more of these dividend-paying shares increases investor returns because, assuming constant dividend growth, the higher share count will steadily boost future dividend payout income.
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g suppose that both groups of students are on the right track, and each of the events described above are partially responsible for the increase in the price of chicken wings. based on your analysis of the explanations offered by the two groups of students, how would you determine which of the possible causes was the dominant cause of the increase in the price of chicken wings?
The market shift in supply for chicken wings must have been greater than the market movement in demand if the price increase was significant. The price adjustment for chicken wings must have been primarily caused by whichever alteration took place first.
What is market movement?Market movement information, a word used in stock market investing, is information that would prompt any sane investor to choose between buying and selling. Market forces affect stock prices every day. By this, we imply that changes in share prices are a result of supply and demand. When there is a greater demand (buyers) than supply (sellers) for a stock, the price rises. Trendlines, which link a succession of highs (downtrend) or lows (uptrend), are a popular method of spotting trends (uptrend). A support level for upcoming price movements is created by uptrends, which link a string of higher lows. Downtrends link a string of lower highs, forming a barrier to further price movement.
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cost of goods sold is a major expense of service companies. question content area bottom part 1 true false
Cost of goods sold (COGS) is a term used to describe the direct costs associated with producing and selling a product.
It includes the cost of raw materials, direct labor, and any other direct expenses that go into creating the product. This information is important for product-based companies, as it helps them determine the cost of each unit sold and can impact the company's gross profit margins.
On the other hand, service companies do not have a COGS because they do not produce or sell physical products. Instead, they typically provide services to customers and may incur expenses such as labor costs, overhead costs, and other indirect expenses. These expenses are not considered COGS and are typically accounted for as operating expenses in a service company's financial statements.
In summary, COGS is a concept that is relevant to product-based companies, but not applicable to service companies.
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Cost of goods sold is a major expense of service companies. TRUE/FALSE?
rice company purchases a building for $500,000, which will be used as a production facility. how should the building be classified on the balance sheet?
On the balance sheet, the facility that the rice company paid $500,000 for should be listed as a property, plant, and equipment (PPE) asset. PPE assets are long-term assets not intended for resale that are used in the production or supply of products and services.
A company that produces, processes, and distributes rice is known as a rice company. Since rice is a staple food for a sizable section of the world's population, the rice business is essential to both food security and economic growth worldwide. Rice businesses can either raise their own rice or buy it from other growers to process and distribute to clients. To succeed, rice producers must take into account a number of variables, including rice types, growing environments, and consumer demand. To guarantee that the rice they produce is both safe and of the highest quality, they must also follow stringent quality control and food safety requirements.
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. what is the relation between marginal benefit and marginal cost at this level of the variable? multiple choice marginal cost is much larger than marginal benefit. marginal cost is slightly larger than marginal benefit. marginal cost is much smaller than marginal benefit. marginal cost is slightly smaller than marginal benefit.
Marginal gains and marginal costs are essentially incremental advantages and incremental costs when you're trying to evaluate an investment project. The correct answer is A. marginal cost is much larger than marginal benefit.
Incremental benefits are the advantages a business gains from a certain action or choice, always in comparison to not taking that same action or decision.The same holds true for increasing expenses.Therefore, a smart manager should decide whether or not to participate.
A particular investment project if the revenues it would produce are larger than its expenditures and greater than the advantages that may be obtained from other investments of a similar nature (opportunity cost). The technique of setting a product's starting price as high as its target market would tolerate before gradually lowering it is known as price skimming. As the initial customers' need is satisfied and competition enters the market, the company lowers the price to appeal.
Complete question:
what is the relation between marginal benefit and marginal cost at this level of the variable? multiple choice answers
A. marginal cost is much larger than marginal benefit. B. marginal cost is slightly larger than marginal benefit. C. marginal cost is much smaller than marginal benefit. D. marginal cost is slightly smaller than marginal benefit.
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true or false: audit data analytics can be used to perform both a risk assessment procedures and a substantive procedure at the same time.
To gather proof about specific assertions like account balances or categories of transactions, analytical processes are utilized as a substantive test.
Analytical techniques may occasionally be more successful or efficient than tests of specifics in accomplishing certain substantive testing goals.The audit process includes analytical techniques, which involve evaluating financial data by looking at plausible links between financial and nonfinancial variables. Simple comparisons to the employment of intricate models with numerous linkages and data pieces are just a few examples of analytical techniques. The implementation of analytical processes is predicated on the fundamental idea that credible correlations between data can be reasonably expected to exist and persist in the absence of known contraindications.
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The following table contains a demand schedule for a good.Price Quantity Demanded$10 100$20 Q1If the law of demand applies to this good, then Q1 could be:A) 0.B) 100.C) 200.D) 400.
If the rule of supply and demand applies to this good, Q1 might be 0.
A demand schedule in economics is a table that displays the quantity demanded of an item or service at various price points.
On a graph where the X-axis is quantity and the Y-axis is price, a demand schedule can be represented as a continuous demand curve.
Anywhere along the demand calendar, analysts can estimate the demand for a good.
Demand schedules, when combined with supply schedules, offer a visual representation of the dynamics of supply and demand in a market.
If management chooses to offer products at one price over another, demand schedules are used to predict the amount of labour and raw materials needed during manufacturing.
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ming joined her new law firm expecting to participate in exciting environmental law cases, and cutting edge research. after one month at the firm she still hasn't been assigned a case and spends most of her time filing standardized appeals for title disputes with insurance companies. in which stage of the socialization process is ming?
Ming joined her new law firm expecting to participate in exciting environmental law cases, and cutting edge research.Stage of the socialization process is B. Encounter.
The process of assimilating social norms and ideals is known as socialisation or socialisation. Learning and teaching are both a part of socialisation, making it "the mechanism by which social and cultural continuity are attained."
The primary process of socialisation, the secondary process of socialisation, and the adult process of socialisation are the three main stages of socialising.
The proper question is "Ming joined her new law firm expecting to participate in exciting environmental law cases and cutting edge research. After one month at the firm she still hasn't been assigned a case and spends most of her time filing standardized appeals for title disputes with insurance companies. In which stage of the socialization process is Ming ?
A) prearrival
B) encounter
C) metamorphosis
D) post-encounter
E) post-arrival"
Hence the correct answer is B. Encounter.
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the first pepsi yields craig 14 units of utility and the second yields him an additional 10 units of utility. his total utility from three cans of pepsi is 30 units of utility. the marginal utility of the third pepsi is
The first Pepsi yields Craig 14 units of utility and the second yield him an additional 10 units of utility. his total utility from three cans of Pepsi is 30 units of utility. the marginal utility of the third Pepsi is 6 units of utility.
The total utility from three cans of Pepsi can be calculated by adding up the utility from each can. The first can yields Craig 14 units of utility, the second 10 units of utility, and the third 6 units of utility. Therefore, the total utility from three cans of Pepsi is 14 + 10 + 6 = 30 units of utility.
The marginal utility of the third can is the utility gained from consuming the third can, which is 6 units of utility. This can be calculated by subtracting the utility of the first two cans (14 + 10) from the total utility of all three cans (30). Therefore, the marginal utility of the third can is 30 - 24 = 6 units of utility.
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The normal underlying level of unemployment in the economy is?
Total structural unemployment and frictional unemployment represent the "typical" underlying level of unemployment in the economy.
What is structural unemployment?
Long-term unemployment known as structural unemployment is brought on by basic changes in an economy and made worse by unrelated elements like technology, rivalry, and public policy. Workers who lack the necessary abilities for the job or who reside too far from the areas where opportunities are available and are unable to relocate are considered structurally unemployed. Although there are open positions, there is a significant gap between what employers demand and what employees can provide. If structural unemployment is not addressed, it can raise the natural rate of unemployment, also referred to as "frictional unemployment," and the unemployment rate even after a recession has ended.
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consumer surplus and producer surplus measure the total benefit consumers and producers receive from participating in a market. True or False
True. Consumer surplus is the gain earned by consumers from participating in a market, measured by the difference between the maximum price they are prepared to pay for a good and the actual market price.
What is consumer surplus?Consumer surplus is an economic measure of the benefit that consumers derive through market participation. It is the discrepancy between the highest price a consumer will pay for a good or service and the actual market price. For example, if a consumer is willing to spend $10 for a good that is in the market for $5, the consumer surplus is $5. Consumer surplus is essential because it indicates consumer welfare and contentment with market outcomes. It is represented by the region above the market price and below the demand curve. A bigger consumer surplus, in general, signifies a more competitive market with lower prices and higher consumer satisfaction.
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on january 20, complete computer service purchases $200 of office supplies on account. the journal entry to record this transaction would be:
By posing this question, it is expected that the following journal entry would be used to record this transaction:
Office supply (Asset) debit: $200
Accounts Payable (Liability) Credit: $200
According to this journal entry, Complete Computer Service grew its inventory of office supplies (an asset) by $200 while accruing a debt to the supplier for the same sum (Accounts Payable).
When a business purchases office supplies on account, it means that it will pay for the supplies at a later date. So, this transaction increases the company's office supplies, which is an asset, and also increases its accounts payable, which is a liability.
In this journal entry, the debit is made to the office supplies account to increase its value, reflecting the acquisition of new office supplies. The credit is made to the accounts payable account to increase its value, reflecting the increase in the company's obligation to pay for the supplies.
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recognizing marketing’s greater purpose is one of the overriding principles of
Recognizing marketing’s greater purpose is one of the overriding principles of conscious marketing.
What is conscious marketing ?In order to ensure that everything supports diversity, inclusiveness, and ethical practice, from the partners you engage with to internal processes and culture, conscious marketing takes a comprehensive approach. through more pertinent, considerate, and therefore successful - efforts, there will be an increase in trust, engagement, and loyalty.
Conscious marketing entails considering factors other than the product. Conscious marketing entails engagement and intention. One of the guiding principles of conscious marketing is seeing the bigger picture of marketing.
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aust company uses the perpetual inventory method. faust sold goods that cost $5,400 for $8,800. if the sale was made on account, the net effect of the sale will:
If the sale was made on account, the net effect of the sale will be an increase in total assets by $3,400.
Refunds, allowances, and discounts are subtracted from gross sales to arrive at net sales.
The direct costs section of the income statement will include a notation if net sales are reported externally.
Gross profit and gross profit margin will change as a result of changes in net sales, however net sales do not take into account costs of products sold.
It is the sum of the sales made during a certain period of time less any sales allowances, discounts, and refunds.
A perpetual inventory system is one that automatically and instantly logs each purchase and sale of merchandise. It is used to maintain and record stock levels. In this approach, whenever a transaction occurs, the programme instantly registers a change in inventory levels.
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nora is an independent contractor, who worked for a local construction company for a few months this year. which of these documents should she expect to receive from her employer before filing her taxes?
Before filing her taxes, Nora should be prepared to get an Application 1099-MISC from her company as an independent consultant.
What does the 1099-MISC form serve?Form 1099-MISC is used to report several forms of income, including rent, royalties, prizes, awards, healthcare payments, and payments to attorneys.
Who needs to submit Form 1099-MISC?The IRS requires that certain rental payments, prize and award payments, and other listed income payments, as well as payments of at least $600 for certain rental payments, prizes and awards, and payments of at least $10 in royalty fees or broker payments despite the absence of dividends or income interest to another person, be filled out and submitted on Form documents.
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what are some disadvantages of centrally planned economies?
In a centrally planned economy, inefficiency levels are very high. In every aspect of society, consumers have zero options. Individual rights are usually limited in economies with central planning.
What three traits do centrally planned economies share?The following are some noteworthy traits that were demonstrated: Support public ownership and oppose private ownership. The government has control over the production elements. Distribution, production, and pricing are all regulated by the government.
What is the name of a centrally planned economy?A centrally planned economy, commonly referred to as a command economy, is a form of capitalism where decisions about the production and distribution of goods are made by the government.
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effective mission statements incorporate the concept of stakeholder management. this suggests that organizations must respond to multiple primary internal constituencies such as all the following except group of answer choices customers. suppliers. competitors. employees.
"Competitors" would be the option that would not be included as a primary internal constituency in an effective mission statement.
Primary internal constituencies refer to individuals or groups within an organization who have a direct relationship with the organization and are affected by its decisions and actions. These typically include employees, managers, owners/shareholders, and the board of directors.
External constituencies refer to individuals or groups outside of the organization who also have a relationship with the organization and are affected by its decisions and actions. These typically include customers, suppliers, partners, creditors, regulators, and the broader community or society.
Effective mission statements do incorporate the concept of stakeholder management, which suggests that organizations must respond to the needs and interests of multiple primary internal and external constituencies, including customers, suppliers, and employees. Therefore, the answer to this question is that "competitors" would be the option that would not be included as a primary internal constituency in effective mission statements.
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your bank account pays a 6% nominal rate of interest. the interest is compounded quarterly. which of the following statements is correct? a. the periodic rate of interest is 1.5% and the effective rate of interest is greater than 6%. b. the periodic rate of interest is 6% and the effective rate of interest is greater than 6%. c. the periodic rate of interest is 3% and the effective rate of interest is 6%. d. the periodic rate of interest is 1.5% and the effective rate of interest is 3%.
The answer that is true is option A: The effective interest rate is more than 6% and the periodic interest rate is 1.5%.
Compound interest serves as the foundation for calculating interest on your assets in the stock market, fixed deposits, recurring deposits, and other financial instruments, therefore it is helpful to understand the idea, its formula, and how it works.
Your ability to calculate your return on investment will enable you to better plan your finances. Understanding the compound interest calculation, which is also used for retail loans like house loans and car loans, may help you have a better idea of how much interest you will pay over time.
When it comes to savings and investments, compound interest is your best friend. You stand to benefit far more from the interest payable if you invest in them.
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since new technologies have made it possible to build larger ships, caribbean cruise lines have offered more passenger tickets than before. does the situation represent:
The quantity of cabins supplied is higher at any given price. This is an increase in supply, which shifts the supply curve to the right.
What is cabins?
They assigned us seats in the first-class cabin of the plane, which is a distinct area in an aircraft for passengers or the crew, or a room on a ship with beds for sleeping. A personal space on a vessel or boat. A space below deck aboard a yacht that is utilized as living quarters. A vehicle's passenger or cargo area (such as that of an automobile or airplane) an exploration vehicle's crew compartment (such as a spacecraft). The most typical types of cabins are fully scribe, stick constructed, timber frame, or homemade. The size and form of modern cabins, which frequently house families, vary greatly depending on their location and intended usage.
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a small manufacturer discovers that her product will satisfy a specific group within a larger market. this is a group that the major corporations in the industry have, for the most part, overlooked. which strategy for competitive advantage is the entrepreneur demonstrating? a. integrity and responsibility b. customer focus c. quality performance d. innovation e. niche market
A niche market strategy for the competitive advantage the entrepreneur is demonstrating.
What is a niche market?A niche market is the segment of the market that a particular product is designed to appeal to. The market niche determines the product characteristics that are intended to meet specific market needs, as well as the price range, production requirements, and target market. A number of super businesses compete in the highly specialised niche market, which is fighting for its life. In practise, the phrases "mainstream suppliers" or "narrow demography specialised market providers" are typically used to refer to product vendors and trade companies. Instead of being influenced by price elasticity of demand, the ultimate product quality—whether it be low or high—is determined by the specific needs that the product is meant to fill and, in certain cases, by factors of brand recognition.
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