Tom's Drug Store chooses to increase the price of the toothpaste it purchases from $1 to $1.50. The marketing mix is where this strategic choice belongs.
Product, pricing, place, and promotion have historically been the four main components of the "marketing mix," which is a foundational business strategy (also known as the "4 Ps").
The early twenty-first century saw the emergence of marketing theory. First published in 1984, the modern marketing mix has now evolved into the preeminent framework for marketing management decisions. An extended marketing mix is employed in the services industry, often consisting of 7 Ps (product, pricing, promotion, place, packaging, positioning, and people), which are the basic 4 Ps plus process, people, and tangible evidence.
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When a cashier is deciding how many hours to work, the marginal benefit she should consider is _____ and the marginal cost she should consider is _____.
When a cashier is deciding how many hours to work, the marginal benefit she should consider is her hourly pay and the marginal cost she should consider is the value of one hour of leisure time.
Marginal Benefit
A marginal benefit is the most a consumer will pay for an additional good or service. It is also the additional satisfaction or usefulness that a buyer obtains while purchasing an additional good or service. As a consumer's consumption of a commodity or service increases, the marginal benefit decreases. The marginal benefit for producers is also known as marginal revenue in the business world. Utility in economics refers to the pleasure or advantage obtained from using a thing. A good or service's marginal utility quantifies how much consumers enjoy or are satisfied after increasing or decreasing their use by one unit. Three different kinds of marginal utility exist.
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If sellers do not adjust their quantity supplied at all in response to a change in price, the price elasticity of supply is:__________
The supply curve is vertical and the price elasticity of supply is zero if sellers do not alter their quantity supplied at all in response to a change in price.
A good or service's responsiveness to supply after a change in its market price is measured by its price elasticity of supply. Basic economic theory states that when a good's price grows, so will its supply. A good's supply will fall when its price rises, on the other hand. Price elasticity of demand is another factor. This gauges how quickly a price change affects the quantity demanded. In general, price elasticity quantifies how much a given change in price affects a product's supply or demand.
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You are an occupational health nurse in a large ceramic manufacturing company. how would you intervene to prevent occupational lung disease in the employees of the company?
As a health nurse here are some prevention methods for lung diseases for the people that work in ceramic industry that everyone should be aware of:
Make sure to use a ceramic mask when you are working or mixing the clay to make sure you do not inhale any fine particles.At all costs unnecessary exposure to the dust should be avoided as these dust particles when inhaled decrease the lung capacity.Do not eat or drink at your working place as these will again go through your system leading to any damages.Always be aware of the ingredients that are using if they are harmful the management should be made aware so that it doesn't harm when working with them.Good and clean working environment with a flow of fresh air should be insured.To know more about lung diseases refer to the link below
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Magnolia inc., an american software development company, has opened a call center in india. the company has hired indian employees to work in the call center. this scenario is an example of _____.
Magnolia inc., an American software development company, has opened a call center in India. the company has hired Indian employees to work in the call center. this scenario is an example of offshoring. Thus, option A is correct.
What is the company?A company is a corporate body established by a collection of people to conduct and manage a multinational corporation, whether it be economic or manufacturing.
Offshoring can be defined as when a country or a business gives its business to another company to process and this scenario is called as offshoring.
For example, in the given scenario Mongolia is a software development country who have given call center job to the people who are in India the scenario is called an of offshoring scenario. Therefore, option A is the correct option.
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The question is incomplete, the complete question will be:
A) offshoring
B) insourcing
C) dejobbing
D) homeshoring
Yolanda and wes decide to go into business together. what form of partnership arrangement can they use to limit their individual and business liability?
The form of partnership agreement that can limit their individual and business liability is a limited liability partnership.
What is a limited liability partnership?
A partnership is an agreement between two or more people who are referred to as partners who decide to come together to run a business with the aim of making profit. Partnerships have the advantage of having the ability to raise more capital than a sole proprietorship.
A limited liability partnership is a form of partnership where the liability of partners are limited to the amount of money invested in the business. This means that in the event where a business cannot meet its debt obligation, the maximum amount the partners can lose is the amount of money that is invested in the business.
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At the start of the month, a company reported a $34,000 debit balance in its cash account. During the month, the company debited cash for $30,000 and credits cash for $42,000. At the end of the month, the cash account has a.
At the start of the month, a company reported a $34,000 debit balance in its cash account. During the month, the company debited cash for $30,000 and credits cash for $42,000. At the end of the month, the cash account has a.22,000 debit.
When a corporation receives money earlier from earning it, the accounting may be a debit to the asset Cash for the quantity received and a credit to the liability account like Customer Advances or Unearned Revenues. samples of these accounts are the cash, assets, prepaid expenses, fixed assets (asset) account, wages (expense) and loss on sale of assets (loss) account.
Since the service was performed at the identical time because the cash was received, the revenue account Service Revenues is credited, thus increasing its account balance. Cash is an asset account hence it's increased by debiting it.
When a business receives cash, it's always recorded as a rise to cash and a decrease to an expense. a shot balance may balance but not be correct. Income statements accounts also are referred to as temporary accounts.
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Caroline is writing a business letter to a german client. what should she do as she prepares the letter?
Caroline is writing a business letter to a german client. She should "Observe the receiver's title and rank." as she prepares the letter
This is further explained below.
What is the business letter?Generally, A letter sent from one firm to another, or from one of these organizations to its customers, clients, or other external parties, is known as a business letter.
The nature of the connection between the persons involved should be reflected in the tone of the letter overall.
A person or organization that seeks counsel or employs the services of a professional, such as a lawyer, accountant, advertising agency, architect, etc.
In conclusion, Caroline is now composing a formal letter of business correspondence for a customer in Germany. When she is preparing the letter, she needs to remember to "Observe the receiver's title and rank."
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About half of all business owners choose to go into business for themselves because they?
Many entrepreneurs go in business for themselves because they need too many creative ideas to take a seat in an office and conceal their ideas. Owning a business gives them a way of stability for his or her future and also the way forward for their families, and that they have created businesses to assist provide for his or her retirement or an inheritance for his or her children.
They're extremely pleased with the companies they need created and are in it for the long-term.
Help people For some people, a way of purpose and work that matters is one in every of the most reasons they are going into business for themselves. Financial benefits In addition to having no income cap, many folks are self-employed due to the various tax deductions available to entrepreneurs. . Own investments Not everyone wants to figure for somebody else. Some individuals want to take a position in themselves by taking the danger to reap the rewards of entrepreneurship. No routine Some people just aren't cut out for the 9-5 cubicle life. These people crave change and days that are different from one another each day. Business ownership gives them that chance. Travel When you work for yourself, you'll travel the maximum amount or as little as you would like. you do not need to worry about depletion all of your PTO days because you'll be able to come and go as you please. Meet new people Entrepreneurs can often network quite others. Through their craft, they meet more people and infrequently make lifelong friends. Create tasks Individuals often opt to own a business to make jobs for others and to mentor and coach others. If you have got a leadership mentality, entrepreneurship could also be for you! . Deeper relationships with clients When you are a business owner, you've got the chance to urge closer to your clients because they directly represent the expansion and success of your business. Thought leadership within the field Have you ever been the victim of bad service over and all over again within the same industry? Business ownership gives you the chance to become a concept leader in any industry. you have got the facility to alter the way the industry is surpass leading it yourself! Learn continuously When you are a business owner, you're always learning new things. This goes hand in hand with the very fact that no 2 days are precisely the same. you retain your brain guessing and never stop learning new skills. Work from anywhere Many people are turning to business ownership in order that they can work from anywhere. Work from the beach, the mountains or your lounge. The word truly is your oyster. . Make a reputation for yourself Business owners exerting to form their own personal brand to draw in new clients to their companies.Learn more about Business entrepreneurs
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an increase in supply will have what effect on equilibrium price and quantity? a.price will decrease; quantity will increase. b.price will increase; quantity will decrease. c.both price and quantity will increase. d.both price and quantity will decrease.
The correct option is Price will Decrease, Quantity will Increase
The only price at which consumer and producer plans coincide is the equilibrium price, which is reached when the quantity sought by consumers and the quantity provided by producers, respectively, are equal. The equilibrium quantity is the name given to this shared quantity. Any other price causes the market to be out of balance since the amount requested does not match the quantity provided. Equilibrium simply implies balance. A market has no motivation to stray from its equilibrium price and quantity if it is there. Economic pressures, however, start to build up when a market is out of balance and push it in the direction of the equilibrium price and quantity.
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When were cooking guilds formed, establishing many of the professional standards and traditions still used today?.
The period when cooking guilds formed, establishing many of the professional standards and traditions still used today were formed was 1400-1600 A.D. during the Renaissance.
How did the Renaissance impact society?Art, science, and culture underwent a new transformation throughout the Renaissance. With first the rediscovery of classical philosophy, literature, and art, as well as the new discoveries in travel, invention, and style, it altered the way the citizens thought.
The Renaissance demonstrates the value of looking to the past for solutions to current problems and inspiration. By looking to the past for advice today, we can uncover not just potential sources of solutions, but also strategies for overcoming problems that earlier cultures have had to deal with.
It should be noted that during this period, people tried out new things and this was when cooking guilds weee formed, which established many of the professional standards and traditions still used today.
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One way the package software firm, intuit has approached the future and avoided disruptive innovation was to?
The package software company, intuit, bought mint.com as one strategy for anticipating the future and avoiding disruptive innovation.
A disruptive innovation is one that makes products and services simpler and more accessible to underserved or untapped markets.
Traditionally, established businesses focus on refining their goods and services for their lucrative clientele, usually ignoring the requirements and preferences of undeveloped markets. This lack of focus allows smaller businesses or newcomers the opportunity to reach this disregarded group with easier, more accessible choices.
On the other side, sustaining innovation refers to the practice of inventing to improve current goods and services for the client base already present, either in response to consumer or market demands.
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Current market prices reflect all information contained in past price movements. True or false?.
This statement is true .Current market prices reflect all information contained in past price movements.
What are Price Action ?In general, price action refers to changes during a security's price over time.A chart are often given various appearances to help traders see price action trends more clearly. this is often particularly true when examining data from several historical periods.
Price action is the foundation for technical analysis formations and chart patterns.Moving averages and other technical analysis techniques also are derived from price activity and extrapolated into the future to guide trades.Although many of us predict future prices using price activity, past price action doesn't guarantee future outcomes.
What is market price?
The market value is the current price at which a good or service can be purchased or sold. The market value of an asset or service is determined by the forces of supply and demand; the price at which quantity supplied equals quantity demanded is the market price.
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A firm makes investments of $2,000 this year, $4,000 next year, and $2,500 the following year. this form of cash flow pattern is a(n) _____.
A firm makes investments of $2,000 this year, $4,000 next year, and $2,500 the following year. this form of cash flow pattern is a(n):(e).uneven cash flow stream
What are the various types of cash flows?
Annuity due cash flows are a stream of equal periodic cash flows where the first cash flow is immediate, lump sum means that a single payment is made rather than a series of cash flows.
Uneven cash flow, which is the case here, has cash series of unequal cash flows at different points, in essence, the cash flows for the three years do not follow a single pattern as they are unequal
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Full question with options:
A firm makes investments of $2,000 this year, $4,000 next year, and $2,500 the following year. This form of cash flow pattern is a(n) _____.
a.annuity due
b.compounded cash flow
c.lump-sum payment
d.ordinary annuity
e.uneven cash flow stream
Suppose that goods a and b are close substitutes. if the price of good a falls, then we would expect an?
When there are two substitutes goods a and b, if the price of good a falls, then we would expect an increase in the demand for good a and decrease in the demand for good b.
Substitute goods are those goods that can be used by consumers as alternative goods. Consumers use these goods and shift between these goods when the price rises and falls. When the price of good a is decreased or falls then the demand increases for good a and demand for good b will be decreased.
An example of substitute goods is milk packs produced by different companies. When a company decreases the price, consumers tend to favor buying this good. If the price rises then customers switch to other substitute goods that offer the lowest price.
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How is the future value of $500 invested for one year at 6 percent annual interest computed?
The future value is therefore $530.
The formula can be used to get the annual compound interest.
Future value is calculated as invested money divided by (1 + rate) years.
Amount Invested: $500, Number of Years = 1, Rate = 6%
The values in the formula being replaced
Future value is equal to 500 (1 + 0.06).
By even more simplifying
The worth in the future is therefore $530.
The interest on a loan or deposit that is calculated based on both the initial principle and the accumulated interest from prior periods is known as compound interest (also known as compounding interest). Compound interest, sometimes known as "interest on interest," is said to have its roots in 17th-century Italy. Compared to simple interest, which is calculated solely on the principal amount, it will cause a sum to grow more quickly.
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An investor is in a 35% combined federal plus state tax bracket. If corporate bonds offer 8.50% yields, what yield must municipals offer for the investor to prefer them to corporate bonds?
If the municipals offer a yield greater than 5.53%, they would be preferred by the investors compared to the corporate bonds.
What is the equivalent tax-free municipal yield that makes investors indifferent?
The tax-free equivalent of municipal bond can be determined as the corporate bond yield multiplied by 1 minus the combined federal plus stated tax bracket for the taxpayer
Equivalent yield on municipal bond=8.50%*(1-35%)
Equivalent yield on municipal bond=5.53%
In for the investor to prefer municipals to corporate bonds, the municipals need to offer a yield that is greater than the equivalent yield of 5.53%, in short, such municipal bonds are issued by the counties or local government areas in order to fund specific projects or their operations, it is different from the ones issued by the national treasury which is back by the full faith of the country's currency
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When supply management costs become more ________, their control becomes more _________.
The answer is visible for blank 1 and feasible for blank 2.
When supply management costs become more visible, their control becomes more feasible.
What is the meaning of supply management?The process of locating, obtaining, and managing the resources and suppliers that are crucial to an organization's operations is known as supply management. It covers the acquisition of tangible commodities, data, services, and any other resources required for a business to carry on operating and expanding. Supply chain management, in the context of commerce, is the control of the movement of products and services between establishments. The movement and storage of raw materials, inventories for work-in-progress, finished goods, and the complete order fulfillment process from the point of origin to the site of consumption can all be included in this.
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A+bond+issue+with+a+face+amount+of+$1,100,000+bears+interest+at+the+rate+of+8%.+the+current+market+rate+of+interest+is+9%.+these+bonds+will+sell+at+a+price+that+is:________
The Face value of bonds is $1,100,000
Given here, The Coupon rate= 8%
Market interest rate (Yield to maturity) = 10%
Market interest rate and price of bonds are inversely propotional to each other ,i.e.. if the market interest rate increases then the bonds of price will decreases.
Since market interest rate is more than coupon rate, from this we can say that the bond issued at price less than face value.
Due to high market interest rate, this bond is discount bond.
Therefore, The Issue price of bonds is Less than $1,100,000.
A financial instrument’s face value is its initial issuance price expressed in dollars. Comparatively, the face value of a stock is the price established by the issuer when the stocks is first issued, but the face value of a bond is the price that the issuer pays at the time of maturity, also referred to as “par value.”
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A positive operating cash flow indicates that the firm is generating enough cash to?
A positive operating cash flow indicates that the firm is generating enough cash to pay operating costs.
What is operating cash flow?Cash flow is the flow of cash and cash equivalent in and and out of a business. The three types of cash flows are investing cash flow, operating cash flow and financing cash flow.
Operating cash flow is the net amount of cash generated from a company's normal business operation . When the operating cash flow is positive, it means that the revenue that the business earns is greater than the cost used in running the business. The operating cash flow is the first section presented on the statement of cash flows.
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One way to overcome the major restriction of linear regression forecasting is to?
One way to overcome the major restriction of linear regression forecasting is to Use a shorter period of history to prepare the forecast.
Linear regression is useful for producing forecasts for strategic planning. However, a major restriction in using linear regression forecasting is, as the name implies, that past data and future projections are assumed to fall about a straight line therefore, a shorter period of history to prepare the forecast should be used.
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If the beginning inventory for 2020 is overstated, the effect of this error on cost of goods sold for 2020 is:_______
In the event that the company's initial inventory is exaggerated, the cost of goods sold will also be overstated, which will result in an understatement of the reported net income.
What is net income?In the context of business and accounting, net income, also referred to as total comprehensive income, net earnings, net profit, bottom line, sales profit, or credit sales, refers to an entity's income less cost of goods sold, expenses, depreciation and amortization, interest, and taxes for a particular accounting period.
The net increase in shareholders' equity that results from a company's operations has also been used to characterize it. It is determined by subtracting all expenses and losses from all earnings and revenues for the time period. It differs from gross revenue.
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When the target firm does not solicit the acquiring firm's bid, it is referred to as a(n)?
The correct answer is takeover.
A takeover occurs when a business successfully attempts to acquire or replace another.
What does a takeover plan entail?A takeover often occurs when one business offers to buy out or control another, frequently by purchasing the majority of the target business. Purchasing the vast majority of the shares of the target firm is one strategy for taking overs. To carry out takeovers, the merger and acquisition strategy is widely employed.
In the acquisition process, the business placing the bid is referred to as the acquirer. In contrast, it refers to the business that it wants to acquire as the target.
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If you are planning an extended drive, advance preparation can pay off in terms of:______.
If you are planning an extended drive, advance preparation can pay off in terms of Fewer troubles, fuel savings and enhanced safety.
What is safety in driving?When operating a motor vehicle, defensive driving refers to the practice of predicting dangers despite unfavorable road conditions or other drivers' errors.
By following the rules and regulations pertaining to road safety, incidents on the road can be avoided. Driving skillfully and cautiously is essential for ensuring the safety of drivers, passengers, and pedestrians on the road. It's crucial to build better roads if you want to reduce collisions.
By driving safely and steadily, defensive driving practices lower the risk of an accident or incident and can even save money on fuel and car maintenance.
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One part of a marketing plan should identify what to do if things go wrong. this section is called ________ planning.
A marketing strategy should include a section that details what to do in case of emergency. this section is called contingency planning.
What is contingency planning?
A contingency plan, sometimes known as Plan B informally, is a strategy developed to deal with a situation that is not anticipated in the regular (expected) plan. It is widely used in risk management when there is a rare risk that, while unlikely, has the potential to be terrible.
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Select all the correct answers. which two sentences describe characteristics of a partnership? the owners are free from personal liability. the owners pool their resources to raise capital. the owners in a partnership are called members. the business benefits because owners can share responsibilities.
The two sentences that describe the characteristics of a partnership are:
the owners pool their resources to raise capital.
the business benefits because owners can share responsibilities.
A partnership is a group of two or more persons who work together to conduct business or engage in commerce. Each individual provides something—cash, goods, labor, or skills and shares in the company's gains and losses.
An official written document outlining the type of partnership and the specifics of the arrangement, signed by all parties, is typically used to confirm a business partnership. A business partnership typically starts with a verbal agreement between the business partners to form a new business or share an existing business
The five characteristics of partnership are:
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After taking $45 billion in taxpayer funding to remain afloat, citibank spent $50 million on a new private jet. this action was:__________
This action was: Unethical since taxpayer money was given solely with the intent to keep CitiBank solvent.
Why is an ethics policy important?A code of ethics is important because it clearly lays out the rules for behavior and provides the groundwork for a preemptive warning. While a code of ethics is often not required, many firms and organizations choose to adopt one, which helps to identify and characterize a business to stakeholders.
What are the five ethical standards?The five principles, autonomy, justice, beneficence, nonmaleficence, and fidelity are each absolute truths in and of themselves.
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econ opportunity cost is illustrated by a movement from one point to another on the production possibilities frontier quizlet
True, econ opportunity cost is illustrated by a movement from one point to another on the production possibilities frontier.
Production Possibilities Curve (PPC) may be a model that sho1w the tradeoffs related to allocating resources between the assembly of two goods. The PPC may be wont to illustrate the concepts of scarcity, cost, efficiency, inefficiency, economic process, and contractions.
Opportunity cost is the forgone benefit that may be derived from an option not chosen. To properly evaluate opportunity costs, the prices and benefits of each option Production Possibilities available must be considered and weighed against the others. A student spends three hours and $20 at the flicks the night before an exam.
The chance cost is time spent studying which money to spend on something else. A farmer chooses to Production Possibilities the chance cost is planting a distinct crop, or an alternate use of the resources (land and farm equipment).
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If a buyer provides a list of home repairs to a seller, based on the report of a licensed inspector, the seller?
If a buyer provides a list of home repairs to a seller, based on the report of a licensed inspector, the parties state the terms and show their intentions in words.
A , buyer sometimes known as a purchasing agent, is in charge of buying products for a company. They are responsible for negotiating contracts with suppliers, looking into potential purchases, and taking stock of the current product line. Construct a job description.
To determine which products are highlighted in shops, catalogs, and online marketplaces, buyers conduct market research, test and evaluate products, and review rivals. They frequently handle the following duties:
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Alice+hall+made+a+$3,000+down+payment+on+a+new+ford+explorer+wagon.+she+still+owes+90%+of+the+selling+price.+what+was+the+selling+price+of+the+wagon?
The fact that she still owes 90% of the selling price, means that she just paid 10%, and these 10% make $3000.
Therefore, the total price is 10 times of $3000, i.e, $30,000
What is meant by selling price ?
The selling price of a good or service is the final cost to the seller, or what the buyer actually pays. A commodity or service in a specific amount, weight, or measurement can be exchanged.
It is one of the most crucial things for a business to decide. It is significant since it determines whether or not it will survive. Sales of a product are directly impacted by its price.
That price might be set at a minimum, maximum, or an average of the two. Prices can be set based on location, demand, market, and the time of year or season. Another smart move is to observe what our rivals are doing.
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The free exercise clause prohibits the government from passing laws that have any impact on religion.
a. true
b. false
The free exercise clause prohibits the government from passing laws that have any impact on religion.
FALSE
A central authority is the system or group of humans governing an organized community, typically a state. inside the case of its huge associative definition, authorities typically consists of legislature, executive, and judiciary.
The act or system of governing in particular : authoritative course or manipulate. 2 : the office, authority, or feature of governing. 3 : the non-stop exercise of authority over and the performance of functions for a political unit : rule.
A government is an institution via which leaders workout strength to make and enforce laws. a central authority's simple capabilities are supplying management, preserving order, imparting public offerings, offering countrywide protection, offering economic safety, and imparting economic help.
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